Friends Non-Profit Housing Inc

The information for Friends Non-Profit Housing Inc is as of the organization's most recent filing in June 2020. This organization is located in Columbia, MD. It has been in existence for 48 years, following its founding in 1972.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Friends Non-Profit Housing Inc's NTEE code is L21. The "L" tells us that the organization is classified along with Housing & Shelter. The "21" tells us that the organization is a Low-Income & Subsidized Rental Housing organization. The NTEE describes Low-Income & Subsidized Rental Housing organizations as those that develop, rehabilitate, manage and/or provide rental housing that is available to people who qualify on the basis of income, age or disability for publicly subsidized housing.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(3) organization. The IRS describes these organizations as those engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of Friends Non-Profit Housing Inc is to create, enhance and operate communities offering low-income housing opportunities.

Program Areas

The organization focuses on the operation of affordable housing that was formerly under Section 236 of the National Housing Act.

Board Governance

Friends Non-Profit Housing Inc is well-governed with a board of 10 voting members and 10 independent members. The organization has delegated management to an outside firm, which helps to ensure that potential conflicts of interest are avoided. Board meetings are documented, as are committee meetings, which helps to ensure that all decisions are properly recorded and transparent. Unfortunately, the organization does not have a conflict of interest policy, nor does it require disclosure of conflicts. It also does not have a written whistleblower policy or document retention policy. Furthermore, the organization does not substantiate and review leadership or officer salaries, and does not provide copies of the 990 to the board prior to filing. Despite these shortcomings, Friends Non-Profit Housing Inc is still well-governed and is taking the necessary steps to ensure that its operations are transparent and accountable.

Organization Growth

Friends Non-Profit Housing Inc has grown significantly between 2014 and 2019. Program Service Revenue, Investment Income, Total Revenue and Employee Salaries all increased over this time period, indicating growth of the organization. Total Expenses also increased, indicating the organization has become more active in providing services.