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Nonprofiteer
← AFRICAN AMERICAN ALLIANCE FOR HOME OWNERSHIP INC

Form 990 for tax year 2023

Filed by AFRICAN AMERICAN ALLIANCE FOR HOME OWNERSHIP INC.

Totals

Total revenue
$4,421,289
Total expenses
$4,190,743
Contributions and grants received
$4,405,036
Grants paid
$0
Program service revenue
$16,253
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,468,273
Total liabilities, end of year
-$1,203
Net assets or fund balances, end of year
$1,469,476
Program services expenses (Part IX)
$4,042,689
Management and general expenses
$126,904
Fundraising expenses
$21,150
Program service expenses (Part III)
$4,042,689

Program services were 96.5% 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)

    $4,405,036

  • 2a · Program service revenue: HOMEBUYER FAIR

    total $14,014 · related or exempt $14,014

  • 2b · Program service revenue: HOMEBUYER CLASSES

    total $2,239 · related or exempt $2,239

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $116,083 · program services $99,831 · management and general $13,930 · fundraising $2,322

  • 7 · Other salaries and wages

    total $540,957 · program services $465,223 · management and general $64,915 · fundraising $10,819

  • 9 · Other employee benefits

    total $53,435 · program services $45,954 · management and general $6,412 · fundraising $1,069

  • 10 · Payroll taxes

    total $54,682 · program services $47,026 · management and general $6,562 · fundraising $1,094

  • 11a · Fees: management

    total $6,816 · program services $5,862 · management and general $818 · fundraising $136

  • 11c · Fees: accounting

    total $12,472 · program services $10,726 · management and general $1,497 · fundraising $249

  • 11g · Fees: other

    total $62,965 · program services $54,150 · management and general $7,556 · fundraising $1,259

  • 12 · Advertising and promotion

    total $7,417 · program services $6,379 · management and general $890 · fundraising $148

  • 13 · Office expenses

    total $45,288 · program services $38,948 · management and general $5,434 · fundraising $906

  • 14 · Information technology

    total $11,668 · program services $10,035 · management and general $1,400 · fundraising $233

  • 16 · Occupancy

    total $57,974 · program services $49,858 · management and general $6,957 · fundraising $1,159

  • 17 · Travel

    total $23,842 · program services $20,504 · management and general $2,861 · fundraising $477

  • 19 · Conferences, conventions and meetings

    total $22,340 · program services $19,212 · management and general $2,681 · fundraising $447

  • 22 · Depreciation, depletion and amortization

    total $476 · program services $476

  • 23 · Insurance

    total $28,234 · program services $24,281 · management and general $3,388 · fundraising $565

  • 24a · Other expenses: REPAIRS

    total $2,833 · program services $2,436 · management and general $340 · fundraising $57

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $8,205 · program services $7,056 · management and general $985 · fundraising $164

  • 24c · Other expenses: PROGRAM SERVICE EXPENSES

    total $3,132,740 · program services $3,132,740

  • 24e · All other expenses

    total $2,316 · program services $1,992 · management and general $278 · fundraising $46

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $741,110 · end of year $941,564

  • 4 · Accounts receivable

    beginning of year $509,227 · end of year $524,695

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

    $4,128

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

    $2,114

  • 10c · Land, buildings and equipment, net

    beginning of year $1,188 · end of year $2,014

  • 15 · Other assets

    beginning of year $29,920

  • 17 · Accounts payable and accrued expenses

    end of year -$90

  • 19 · Deferred revenue

    beginning of year $45,000

  • 25 · Other liabilities

    beginning of year -$1,184 · end of year -$1,113

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,237,629 · end of year $1,469,476

Mission and programs · 2023

Mission

INCREASE HOMEOWNERSHIP AND ECONOMIC STABILITY FOR AFRICAN AMERICANS AND OTHER UNDERSERVED INDIVIDUALS BY PROVIDING ACCESS TO ADVOCACY, AWARENESS AND EDUCATION.

  • AAAH PROVIDES CLIENTS WITH A PRE-PURCHASE, HUD CERTIFIED COUNSELOR TO GUIDE THEM THROUGH THE HOME BUYING PROCESS. COUNSELORS ALSO HELP THE CLIENTS TO BECOME MORTGAGE READY, DEVELOP A MONTHLY BUDGET AND SAVINGS PLAN, AND HELP THEM REPAIR THEIR HOME. DURING THE YEAR MORE THAN 500 HOUSEHOLDS IMPROVED THEIR MORTGAGE READINESS AND 80 HOUSEHOLDS BECAME MORTGAGE READY. AAAH IS IDENTIFYING OTHER RESOURCES TO COUPLE WITH. THE IDA PROGRAM CONTINUES TO IMPROVE DUE TO THE OVERWHELMING DEMAND FOR THE ASSISTANCE IT PROVIDES. THIS WILL ALLOW AAAH TO ASSIST EVEN MORE CLIENTS IN PREPARING FOR HOMEOWNERSHIP.

    Expenses $4,042,689

As filed on the 2023 return.

Listed in Part VII

  • Cheryl Roberts

    EXECUTIVE DIRECTOR

    Total calculated
    $117,283
    From this org
    $117,283
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Charles Funches

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Franteece Jackson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Josh Akwenuke

    CO CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ernest Hill Jr

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Geoff Boyd

    BOARD MEMBER

    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
10 November 2024
IRS schema version
2023v6.0
Source object
202531359349317543

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