Overview
What is Ann Arbor Affordable Housing Corp?
Ann Arbor Affordable Housing Corp is a nonprofit organization devoted to addressing the shortage of affordable housing in Ann Arbor, Michigan. They primarily focus on providing decent, safe, and sanitary living spaces for individuals of low income, including families, elderly, and handicapped or disabled persons. To achieve this mission, the corporation engages in the development, financing, and operation of various low-income housing projects, acting as an instrumental entity under Section 3(6) of the United States Housing Act of 1937, as amended. These projects are intended for public housing purposes or other charitable uses that are not inconsistent with their mission. Their efforts aim to alleviate housing disparities in the community.
Official website here: www.a2gov.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating).
Ann Arbor Affordable Housing Corp has achieved a moderate rating of 73%, indicating some strengths in its operational transparency and financial practices. The organization has a fully independent board, which is a positive sign for governance, and it maintains high scores in areas such as financial audits and program expense ratios. This suggests that the majority of the funds raised are directed towards its mission of affordable housing.
However, there are notable areas for improvement. The organization lacks a conflict of interest policy and a document retention policy, which raises concerns regarding governance and accountability. Additionally, the liabilities to assets ratio is relatively high at 75.45%, which may indicate financial strain. Furthermore, the absence of key documents on its website, like the tax form, limits transparency for potential donors and stakeholders.
Overall, while Ann Arbor Affordable Housing Corp demonstrates a commitment to its mission and has solid financial management in some aspects, addressing the highlighted limitations would strengthen its nonprofit governance and enhance credibility in the eyes of supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Ann Arbor Affordable Housing Corp legitimate?
Ann Arbor Affordable Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ann Arbor Affordable Housing Corp 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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Official website here: www.a2gov.org
What is the mission statement of Ann Arbor Affordable Housing Corp?
The Ann Arbor Affordable Housing Corp is committed to alleviating the scarcity of decent, safe, and sanitary housing for individuals of low income, including families, the elderly, handicapped, or disabled persons. Their mission extends to promoting and enhancing such housing conditions in various ways. They achieve this by financing housing projects approved by the corporation, which can be utilized for public housing purposes or other charitable purposes not contradictory. Furthermore, the corporation engages in or assists with the development, financing, or operation of low-income housing projects, functioning as an instrumentality under Section 3(6) of the United States Housing Act of 1937, as amended.
Official website here: www.a2gov.org
Who is the CEO of Ann Arbor Affordable Housing Corp?
Jennifer Hall is the Board Member of Ann Arbor Affordable Housing Corp.
Official website here: www.a2gov.org
What is the revenue of Ann Arbor Affordable Housing Corp?
Ann Arbor Affordable Housing Corp's revenue in 2022 was $1,277,787.
Official website here: www.a2gov.org
Who are the executives of Ann Arbor Affordable Housing Corp and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.a2gov.org
Where can I find the form 990 for Ann Arbor Affordable Housing Corp?
Ann Arbor Affordable Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.a2gov.org
Learn more at the official website: www.a2gov.org
Mission Statement of Ann Arbor Affordable Housing Corp
Ann Arbor Affordable Housing Corp is committed to alleviating the shortage of decent, safe, and sanitary housing for individuals and families of low income, including the elderly, handicapped, or disabled, in Michigan. Their mission extends beyond providing housing, aiming to promote and advance such housing opportunities for these populations. To accomplish this, the corporation engages in the development, financing, or operation of low-income housing projects that are approved for public housing purposes or other charitable purposes that do not contradict their goals. They function as an instrumental entity within the United States Housing Act of 1937, as amended, with the objective of making a substantial and meaningful contribution to the availability of affordable housing in their community.
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Impact
July, 2024
Ann Arbor Affordable Housing Corp's impact is felt through its direct contribution to providing low-income housing to the citizens of Ann Arbor. By relieving the shortage of decent, safe, and sanitary housing for persons of low income, including families and elderly, handicapped or disabled persons, the organization has a significant positive impact on the community. Through financing housing projects that are usable for public housing purposes or other charitable purposes, the organization actively promotes and advances the availability of decent housing for those in need.
This information is meant to be a general summary of Ann Arbor Affordable Housing Corp. 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 2022.
- Investment Income: $958
- Program Service Revenue: $1,049,462
- Gross Receipts: $1,277,787
Assets and Liabilities:
- Total Assets: $6,051,688
- Total Liabilities: $4,865,067
- Net Assets: $1,186,621
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,049,462
Organization Details
Founding Year
2020
Phone
(734) 794-6720Principal Officer
Jennifer Hall
Main Address
2000 S INDUSTRIAL HWY, ANN ARBOR, MI, 48104
Website
www.a2gov.orgNTEE Category
Code: L20 - Housing
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