Red Bank Affordable Housing Corporation

Organization Overview

Red Bank Affordable Housing Corporation is located in Red Bank, NJ. The organization was established in 2008. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Red Bank Affordable Housing Corporation 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, Red Bank Affordable Housing Corporation generated $19.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $50.0k during the year ending 12/2021. While expenses have increased by 13.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO DEVELOP AND MANAGE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AS WELL AS ASSIST IN CERTIFING ELIGIBLE FAMILIES FOR LOW AND MODERATE INCOME HOUSING

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO DEVELOP AND MANAGE HOUSING FOR LOW AND MODERATE INCOME FAMILIES INVOLVING ASSISTANCE IN CONFIRMING ELIGIBILITY OF PARTICIPANTS


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Board, Officers & Key Employees

Name (title)Compensation
Rev Terrence Porter
President
$20,400
Nichoele Peguese
Treasurer
$0
Vanessa Munson
Trustee
$0
Renee Harris
Vice President
$0
Sonia Quiles
Trustee
$0
Ann Wolf
Trustee
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$19,651
Investment income $0
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 $19,651

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