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Nonprofiteer
← AHC INC

Form 990 for tax year 2024

Filed by AHC INC.

Totals

Total revenue
$3,041,267
Total expenses
$2,149,157
Contributions and grants received
$0
Grants paid
$662,005
Program service revenue
$3,008,672
Investment income
$9,664
Other revenue
$22,931
Total assets, end of year
$41,308,697
Total liabilities, end of year
$22,622,109
Net assets or fund balances, end of year
$18,686,588
Program services expenses (Part IX)
$2,072,150
Management and general expenses
$77,007
Fundraising expenses
$0
Program service expenses (Part III)
$2,072,150

Program services were 96.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST INCOME

    total $1,787,215 · related or exempt $1,787,215

  • 2b · Program service revenue: RENTAL INCOME

    total $1,200,578 · related or exempt $1,200,578

  • 2c · Program service revenue: TENANT CHARGES

    total $20,879 · related or exempt $20,879

  • 3 · Investment income

    total $9,664 · excluded $9,664

  • 11a · Other revenue: LAUNDRY INCOME

    total $16,072 · related or exempt $16,072

  • 11b · Other revenue: OTHER RENTAL INCOME

    total $6,859 · related or exempt $6,859

  • 11e · Other revenue, total

    $22,931

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $662,005 · program services $662,005

  • 7 · Other salaries and wages

    total $261,960 · program services $261,960

  • 9 · Other employee benefits

    total $23,642 · program services $23,642

  • 11a · Fees: management

    total $65,282 · management and general $65,282

  • 11b · Fees: legal

    total $1,442 · program services $1,442

  • 11c · Fees: accounting

    total $11,725 · management and general $11,725

  • 12 · Advertising and promotion

    total $8,958 · program services $8,958

  • 13 · Office expenses

    total $22,384 · program services $22,384

  • 14 · Information technology

    total $18,969 · program services $18,969

  • 16 · Occupancy

    total $723,029 · program services $723,029

  • 17 · Travel

    total $148 · program services $148

  • 22 · Depreciation, depletion and amortization

    total $273,136 · program services $273,136

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $76,477 · program services $76,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $213,288 · end of year $162,675

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $32,000

  • 4 · Accounts receivable

    beginning of year $14,044 · end of year $24,920

  • 7 · Other notes and loans receivable

    beginning of year $35,371,246 · end of year $35,955,452

  • 9 · Prepaid expenses and deferred charges

    beginning of year $159 · end of year $166

  • 10a · Land, buildings and equipment: cost or other basis

    $5,652,119

  • 10b · Land, buildings and equipment: accumulated depreciation

    $920,568

  • 10c · Land, buildings and equipment, net

    beginning of year $4,900,865 · end of year $4,731,551

  • 14 · Intangible assets

    beginning of year $92,850 · end of year $67,527

  • 15 · Other assets

    beginning of year $270,536 · end of year $334,406

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,590 · end of year $24,035

  • 19 · Deferred revenue

    beginning of year $10,391 · end of year $19,879

  • 21 · Escrow or custodial account liability

    beginning of year $35,159 · end of year $36,175

  • 23 · Secured mortgages and notes payable

    beginning of year $3,200,000 · end of year $3,200,000

  • 25 · Other liabilities

    beginning of year $19,803,426 · end of year $19,342,020

  • 27 · Net assets without donor restrictions

    beginning of year $17,792,422 · end of year $18,686,588

Mission and programs · 2024

Mission

TO ASSIST IN THE OPERATIONS OF DECENT, SAFE, AFFORDABLE HOUSING FOR LOW-INCOME PERSONS.

  • ON APRIL 9, 2021, LEE GARDENS HOUSING CORPORATION ACQUIRED A MULTIFAMILY APARTMENT COMPLEX FROM KATE'S TRACE LIMITED PARTNERSHIP, AN AFFILIATE, WHICH CONSISTS OF 108 UNITS LOCATED IN NEWPORT NEWS, VIRGINIA AND OPERATES UNDER THE NAME OF KATE'S TRACE APARTMENTS.

    Expenses $1,345,792 · Grants $662,005 · Revenue $1,244,388

  • LEE GARDENS HOUSING CORPORATION (LEE GARDENS) PROVIDED 364 RENTAL HOUSING UNITS FOR LOW/MODERATE INCOME FAMILIES THROUGH DECEMBER 5, 2014, WHEN THE ASSET WAS SOLD TO AN AFFILIATED ENTITY. LEE GARDENS PROVIDED A SELLER TAKE BACK NOTE WHICH MATURES DECEMBER 4, 2044.

    Expenses $726,358 · Revenue $1,787,215

As filed on the 2024 return.

Listed in Part VII

  • PAUL BERNARD

    PRESIDENT

    Total calculated
    $397,149
    From this org
    $0
    From related orgs
    $365,604
    Other
    $31,545
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,129 related
    Bonus
    $0 + $33,475 related
    Other
    $0
    Deferred
    $0 + $17,600 related
    Nontaxable benefits
    $0 + $13,945 related
    Filer's total
    $0 + $397,149 related

  • KENNETH CRAWFORD

    VICE PRESIDENT (PART YEAR)

    Total calculated
    $339,778
    From this org
    $0
    From related orgs
    $330,891
    Other
    $8,887
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $317,824 related
    Bonus
    $0 + $13,067 related
    Other
    $0
    Deferred
    $0 + $4,596 related
    Nontaxable benefits
    $0 + $4,291 related
    Filer's total
    $0 + $339,778 related

  • STEVE YEATMAN

    TREASURER (PART YEAR)

    Total calculated
    $209,221
    From this org
    $0
    From related orgs
    $202,106
    Other
    $7,115
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,106 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,177 related
    Nontaxable benefits
    $0 + $2,938 related
    Filer's total
    $0 + $209,221 related

  • JENNIFER ENDO

    SECRETARY

    Total calculated
    $232,882
    From this org
    $0
    From related orgs
    $216,977
    Other
    $15,905
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,108 related
    Bonus
    $0 + $18,869 related
    Other
    $0
    Deferred
    $0 + $15,905 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $232,882 related

  • JOHN ELLIOTT

    TREASURER

    Total calculated
    $176,715
    From this org
    $0
    From related orgs
    $172,574
    Other
    $4,141
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,574 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $1,539 related
    Nontaxable benefits
    $0 + $2,602 related
    Filer's total
    $0 + $176,715 related

  • REGINA JACKSON

    TREASURER (PART YEAR)

    Total calculated
    $172,794
    From this org
    $0
    From related orgs
    $160,429
    Other
    $12,365
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,713 related
    Bonus
    $0 + $13,716 related
    Other
    $0
    Deferred
    $0 + $11,247 related
    Nontaxable benefits
    $0 + $1,118 related
    Filer's total
    $0 + $172,794 related

  • WALTER WEBDALE

    FORMER PRESIDENT

    Total calculated
    $158,475
    From this org
    $0
    From related orgs
    $158,475
    Other
    $0
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,475 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $158,475 related

  • ALAN GOLDSTEIN

    FORMER VICE PRESIDENT

    Total calculated
    $304,598
    From this org
    $0
    From related orgs
    $279,169
    Other
    $25,429
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,368 related
    Bonus
    $0 + $20,801 related
    Other
    $0
    Deferred
    $0 + $18,347 related
    Nontaxable benefits
    $0 + $7,082 related
    Filer's total
    $0 + $304,598 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
LEE GARDEN HOUSING CORPORATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE AHC, INC., RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(3). A COMPENSATION STUDY ANALYSIS IS PERFORMED FOR TOP POSITIONS. A COMPENSATION CONSULTANT WAS USED TO DETERMINE MARKET RATE COMPENSATION AS RELATED TO JOB DESCRIPTIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • AHC INC

    $662,005

    TO SUPPORT THE ORGANIZATION'S PROGRAM SERVICE ACCOMPLISHMENTS.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202513189349306011

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