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Nonprofiteer
← AFFORDABLE HOMEOWNERSHIP FOUNDATION INC

Form 990 for tax year 2023

Filed by AFFORDABLE HOMEOWNERSHIP FOUNDATION INC.

Totals

Total revenue
$945,353
Total expenses
$753,490
Contributions and grants received
$805,277
Grants paid
$8,270
Program service revenue
$139,073
Investment income
$0
Other revenue
$1,003
Total assets, end of year
$2,766,631
Total liabilities, end of year
$580,758
Net assets or fund balances, end of year
$2,185,873
Program services expenses (Part IX)
$683,516
Management and general expenses
$65,399
Fundraising expenses
$4,575
Program service expenses (Part III)
$683,516

Program services were 90.7% 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.

  • 1e · Government grants (contributions)

    $640,026

  • 1f · All other contributions, gifts and grants

    $165,251

  • 2a · Program service revenue: Low Income Housing

    total $124,504 · related or exempt $124,504

  • 2b · Program service revenue: Homebuyer Education

    total $4,959 · related or exempt $4,959

  • 2c · Program service revenue: GainLoss on property

    total $9,610 · related or exempt $9,610

  • 11a · Other revenue: Miscellaneous

    total $1,003 · related or exempt $1,003

  • 11e · Other revenue, total

    $1,003

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,270 · program services $8,270

  • 5 · Compensation of officers, directors and key employees

    total $72,000 · program services $64,378 · management and general $6,503 · fundraising $1,119

  • 7 · Other salaries and wages

    total $193,234 · program services $172,779 · management and general $17,451 · fundraising $3,004

  • 9 · Other employee benefits

    total $1,989 · program services $1,492 · management and general $398 · fundraising $99

  • 10 · Payroll taxes

    total $22,712 · program services $20,308 · management and general $2,051 · fundraising $353

  • 12 · Advertising and promotion

    total $1,493 · program services $1,493

  • 13 · Office expenses

    total $28,830 · program services $25,947 · management and general $2,883

  • 14 · Information technology

    total $18,297 · program services $13,723 · management and general $4,574

  • 16 · Occupancy

    total $37,457 · program services $33,711 · management and general $3,746

  • 17 · Travel

    total $2,097 · program services $1,887 · management and general $210

  • 19 · Conferences, conventions and meetings

    total $140 · program services $70 · management and general $70

  • 20 · Interest

    total $29,748 · program services $26,773 · management and general $2,975

  • 22 · Depreciation, depletion and amortization

    total $83,982 · program services $79,783 · management and general $4,199

  • 23 · Insurance

    total $51,256 · program services $38,442 · management and general $12,814

  • 24a · Other expenses: Licenses and professional

    total $28,188 · program services $25,369 · management and general $2,819

  • 24b · Other expenses: Property holding costs

    total $122,594 · program services $122,594

  • 24c · Other expenses: Consulting

    total $37,454 · program services $33,709 · management and general $3,745

  • 24d · Other expenses: Closing Costs

    total $2,488 · program services $2,488

  • 24e · All other expenses

    total $11,261 · program services $10,300 · management and general $961

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,388 · end of year $58,221

  • 3 · Pledges and grants receivable

    beginning of year $16,478 · end of year $101,656

  • 4 · Accounts receivable

    beginning of year $60,633 · end of year $3,000

  • 7 · Other notes and loans receivable

    beginning of year $6,548 · end of year $6,548

  • 8 · Inventories for sale or use

    beginning of year $132,559 · end of year $128,615

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,531

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

    $2,776,142

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

    $337,030

  • 10c · Land, buildings and equipment, net

    beginning of year $2,192,372 · end of year $2,439,112

  • 15 · Other assets

    beginning of year $57,758 · end of year $29,479

  • 17 · Accounts payable and accrued expenses

    beginning of year $95,520 · end of year $148,466

  • 23 · Secured mortgages and notes payable

    beginning of year $279,496 · end of year $200,551

  • 25 · Other liabilities

    beginning of year $168,241 · end of year $231,741

  • 27 · Net assets without donor restrictions

    beginning of year $1,988,505 · end of year $2,185,873

  • 28 · Net assets with donor restrictions

    beginning of year $5,505

Mission and programs · 2023

Mission

See attached PDF.

  • The Foundation meets its goals annually by offering a host of counseling services to families and individuals such as: homebuyer education, pre-purchase counseling, post-purchase counseling, non-delinquency post purchase counseling, rental counseling, mortgage delinquency/foreclosure prevention services, homeless counseling & homeless prevention counseling, predatory lending workshops, FHA back-to-work counseling, affordable housing rehab & new home building for seniors, disabled and veterans, and all families and individuals that are very low, low and moderate income. During 2023, the Foundation was able to assist over 950 clients with its various services.

    Expenses $683,516 · Revenue $139,073

As filed on the 2023 return.

Listed in Part VII

  • Lois Healy

    CEO

    Total calculated
    $79,692
    From this org
    $79,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Tony Neal

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gary Donabed

    Director

    Total calculated
    $0
    Hours/week
    1

  • Adam Rivas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Garritt Pankratz

    Director

    Total calculated
    $0
    Hours/week
    1

  • Howard Atkin

    DirectorVice President

    Total calculated
    $0
    Hours/week
    1

  • Darryl Clare

    DirectorSecretaryTreasurer

    Total calculated
    $0
    Hours/week
    1

  • Mary Dussault

    DirectorPresident

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
24 July 2024
IRS schema version
2023v5.1
Source object
202432259349300813

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