American Housing Foundation Inc
- Assets
- $17.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Troy, NY
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 22-3363205
Organization Overview
American Housing Foundation Inc is located in Troy, NY. The organization was established in 1995. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Housing Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, American Housing Foundation Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP, OWN AND OPERATE AFFORDABLE SENIOR HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
AHF DEVELOPED, OWNS AND OPERATES THREE SENIOR HOUSING PROJECTS(282 APARTMENT UNITS)LEASED TO LOW-TO-MODERATE INCOME SENIORS FUNDED BY NYS HOUSING TRUST FUND CORPORATION AND TAX-EXEMPT BOND FINANCING.
AHF CONTINUES TO EVALUATE AND DEVELOP OPPORTUNITIES TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY IN UPSTATE NEW YORK THROUGH DIRECT OWNERSHIP AND IN PARTNERSHIP WITH FOR-PROFIT DEVELOPERS TO BUILD HOUSING UITLIZING TAX CREDIT INCENTIVES.
SUPERVISION AND CONSULTING SERVICES RENDERED TO AHMC CORP. (THE COMPANIES FOR PROFIT SUBSIDIARY) RELATED TO THE OWNED SENIOR HOUSING PROPERTIES AND TAX CREDIT PROPERTIES WHICH AHF WAS A CO DEVELOPER AND HOLDS A SMALL GP INTEREST AND THE RIGHT OF FIRST REFUSAL TO PURCHASE THE PROPERTY AFTER THE INITIAL 15 YEARS OF OPERATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garry J Kearns Executive Direc | OfficerTrustee | 20 | $0 |
John J Naughter President | OfficerTrustee | 1 | $0 |
Jerry Pucci Vice President | OfficerTrustee | 1 | $0 |
William J Riley Director | Trustee | 1 | $0 |
Paul C Reuss Director | Trustee | 1 | $0 |
John P Smith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,000 |
| Total Program Service Revenue | $2,988,179 |
| Investment income | $13,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,162,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,004 |
| Payroll taxes | $0 |
| Fees for services: Management | $177,098 |
| Fees for services: Legal | $2,324 |
| Fees for services: Accounting | $37,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,783 |
| Office expenses | $15,767 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,800 |
| Travel | $3,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85 |
| Interest | $801,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $573,851 |
| Insurance | $87,701 |
| All other expenses | $477,180 |
| Total functional expenses | $2,952,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,074 |
| Savings and temporary cash investments | $932,140 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,573 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $94,608 |
| Net Land, buildings, and equipment | $9,995,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $431,522 |
| Other assets | $4,984,001 |
| Total assets | $17,147,393 |
| Accounts payable and accrued expenses | $98,652 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,175,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,230,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $349,652 |
| Total liabilities | $16,853,339 |
| Net assets without donor restrictions | $294,054 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,147,393 |
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