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← AFFORDABLE HOUSING CORPORATION

Form 990 for tax year 2023

Filed by AFFORDABLE HOUSING CORPORATION.

Totals

Total revenue
$617,848
Total expenses
$67,137
Contributions and grants received
$0
Grants paid
$55,000
Program service revenue
$0
Investment income
$617,848
Other revenue
$0
Total assets, end of year
$17,039,842
Total liabilities, end of year
$92,169
Net assets or fund balances, end of year
$16,947,673
Program services expenses (Part IX)
$58,909
Management and general expenses
$8,228
Fundraising expenses
$0
Program service expenses (Part III)
$58,909

Program services were 87.7% 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.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $618,198 · excluded $618,198

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $45,000

  • 7b · Less cost or other basis and sales expenses

    securities $45,350

  • 7c · Gain or loss

    securities -$350 · other assets $0

  • 7d · Net gain or loss

    total -$350 · excluded -$350

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,000 · program services $55,000

  • 11c · Fees: accounting

    total $6,900 · management and general $6,900

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $1,537 · program services $1,537

  • 24a · Other expenses: Telephone

    total $1,328 · management and general $1,328

  • 24b · Other expenses: Real Estate Taxes

    total $1,242 · program services $1,242

  • 24c · Other expenses: Repairs and Maintenance

    total $1,130 · program services $1,130

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,517,074 · end of year $3,737,253

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,675,000 · end of year $1,575,000

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $10,471,487 · end of year $11,497,995

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $183,449 · end of year $183,449

  • 15 · Other assets

    beginning of year $46,145 · end of year $46,145

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,331 · end of year $5,331

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $86,838 · end of year $86,838

  • 27 · Net assets without donor restrictions

    beginning of year $15,800,986 · end of year $16,947,673

Mission and programs · 2023

Mission

THE ORGANIZATION WAS ORGANIZED AND IS OPERATED EXCLUSIVELY AS A CHARITABLE ORGANIZATION TO CONSTRUCT, DEVELOP, ACQUIRE, RENOVATE, MANAGE AND OPERATE LOW INCOME HOUSING FOR PERSONS OF LIMITED FINANCIAL MEANS, QUALIFIED HOUSING FOR MENTALLY AND PHYSICALLY DISABLED PERSONS, AND QUALIFIED HOUSING FOR ELDERLY PERSONS WITHIN THE UNITED STATES.

  • THE ORGANIZATION WAS ORGANIZED AND IS OPERATED EXCLUSIVELY AS A CHARITABLE ORGANIZATION TO CONSTRUCT, DEVELOP, ACQUIRE, RENOVATE, MANAGE AND OPERATE LOW INCOME HOUSING FOR PERSONS OF LIMITED FINANCIAL MEANS, QUALIFIED HOUSING FOR MENTALLY AND PHYSICALLY DISABLED PERSONS, AND QUALIFIED HOUSING FOR ELDERLY PERSONS WITHIN THE UNITED STATES.

    Expenses $58,909 · Grants $55,000

As filed on the 2023 return.

Listed in Part VII

  • Clare R Dove

    Secretary

    Total calculated
    $0
    Hours/week
    7 + 14 related

  • Wilbur G Dove

    President

    Total calculated
    $0
    Hours/week
    7 + 14 related

  • John Sower

    Director

    Total calculated
    $0
    Hours/week
    7 + 14 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.

Grants on this return

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 December 2024
IRS schema version
2023v5.1
Source object
202433469349300008

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