Overview
What is Ahepa 501-Ii Inc?
Ahepa 501-Ii Inc is a not-for-profit organization established in accordance with New Mexico's non-profit regulations. Its primary objective is to construct, own, and manage an affordable housing apartment community in Albuquerque, New Mexico, known as Ahepa 501-ii Apartments. This initiative aligns with Section 202 of the National Affordable Housing Act. The sponsor of this corporation is Ahepa National Housing Corporation, which plays a significant role in its operations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating.
Ahepa 501-Ii Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 82%. This rating is derived entirely from their Accountability and Finance metrics, indicating a strong commitment to transparency and responsible financial management. They have achieved a perfect score of 100% for having an independent board, which demonstrates a robust governance structure.
The organization shows impressive financial health, boasting a program expense ratio of 92.33%, which indicates that the vast majority of their expenses are directed toward their programs rather than administrative costs. Additionally, with a liabilities to assets ratio of only 2.54%, the organization maintains a strong balance sheet, further enhancing its credibility and reliability in handling donations.
While Ahepa 501-Ii Inc has demonstrated commendable financial practices, the single-beacon score means that other areas of impact or effectiveness were not evaluated in this rating. Prospective donors may want to consider additional facets such as program outcomes or community feedback when assessing the overall impact of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 501-Ii Inc legitimate?
Ahepa 501-Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 501-Ii Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Ahepa 501-Ii Inc?
Ahepa 501-II Inc. was established with a specific purpose: to construct, own, and manage an affordable housing apartment community. This not-for-profit corporation, in accordance with the state of New Mexico's not-for-profit statutes, aims to provide affordable living spaces for individuals. The corporation focuses on developing and managing a 50-unit apartment complex, known as Ahepa 501-II Apartments, in compliance with Section 202 of the National Affordable Housing Act. The sponsor of this corporation is Ahepa National Housing Corporation.
Who is the CEO of Ahepa 501-Ii Inc?
Mark Bullock is the President of Ahepa 501-Ii Inc.
What is the revenue of Ahepa 501-Ii Inc?
Ahepa 501-Ii Inc's revenue in 2023 was $510,436.
Who are the executives of Ahepa 501-Ii Inc and what are their salaries?
There 8 volunteers at Ahepa 501-Ii Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Ahepa 501-Ii Inc?
Ahepa 501-Ii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Ahepa 501-Ii Inc
Ahepa 501-Ii Inc, a not-for-profit corporation, was established with a clear mission. The organization was founded with the intent to construct, own, and operate an affordable housing apartment community. This community, named Ahepa 501-II Apartments, is part of the broader initiative under Section 202 of the National Affordable Housing Act, aiming to provide affordable housing solutions. The sponsor of this corporation is Ahepa National Housing Corporation, underscoring the commitment to affordable housing within the broader Ahepa organization.
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Impact
July, 2024
Ahepa 501-Ii Inc's impact is providing affordable housing options to the community in Albuquerque, New Mexico through the construction, ownership, and operation of a 50-unit apartment community known as Ahepa 501-Ii Apartments. By offering affordable housing, Ahepa 501-Ii Inc contributes to addressing housing needs and improving the quality of life for individuals and families in the area. This organization plays a vital role in fulfilling the mission of providing accessible and sustainable housing solutions for those in need.
This information is meant to be a general summary of Ahepa 501-Ii Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $6,318
- Program Service Revenue: $496,296
- Gross Receipts: $510,436
Assets and Liabilities:
- Total Assets: $2,472,371
- Total Liabilities: $63,104
- Net Assets: $2,409,267
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE HUD
Revenue
$314,712
RENTAL INCOME
Revenue
$181,584
Organization Details
Founding Year
1999
Phone
(505) 833-3139Principal Officer
Mark Bullock
Main Address
6700 LOS VOLCANES ROAD NW, ALBUQUERQUE, NM, 87121
NTEE Category
Code: L40 - Housing
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