Austin Affordable Housing Corporation
- Assets
- $189.5m
- Revenue
- $41.0m
- Investments
- $32.5m
- Employees
- 0
- Location
- Austin, TX
- Founding
- Data as of
- 03/2022
- EIN
- 41-2121187
Organization Overview
Austin Affordable Housing Corporation is located in Austin, TX. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Austin 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 03/2022, Austin Affordable Housing Corporation generated $41.0m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $24.5m during the year ending 03/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE AND PRESERVE QUALITY, AFFORDABLE HOUSING OPPORTUNITIES FOR LOW- TO MODERATE-INCOME FAMILIES IN AUSTIN AS WELL AS PROVIDE FINANCIAL LITERACY AND HOMEOWNERSHIP OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES SOCIAL AND HUMAN SUPPORT SERVICES, SUCH AS EDUCATIONAL PROGRAMS, TRAINING PROGRAMS, AND FAMILY COUNSELING IN ORDER TO PROMOTE THE HEALTH AND WELFARE OF ITS RESIDENTS AND A DOWN PAYMENT ASSISTANCE PROGRAM TO ASSIST FIRST-TIME HOMEBUYERS WHO ARE RESIDENTS OF PUBLIC HOUSING OR THE HOUSING CHOICE VOUCHER PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Kowal Vice Preside | OfficerTrustee | 32 | $0 |
Barbara Chen Treasurer | OfficerTrustee | 2 | $0 |
Michael Gerber President/se | OfficerTrustee | 2 | $0 |
Edwina Carrington Director | Trustee | 1 | $0 |
Tyra Duncan-Hall Director | Trustee | 1 | $0 |
Carl Richie Jr 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $40,593,403 |
| Investment income | $28,668 |
| 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 | $40,972,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $1,835,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,069,084 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,144,480 |
| Fees for services: Legal | $61,373 |
| Fees for services: Accounting | $15,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $110,830 |
| Office expenses | $1,733,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,524 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,261,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,456,782 |
| Insurance | $781,111 |
| All other expenses | $401,913 |
| Total functional expenses | $24,514,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,474,177 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,202,878 |
| 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 | $607,461 |
| Net Land, buildings, and equipment | $67,249,483 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $32,470,405 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,488,432 |
| Total assets | $189,492,836 |
| Accounts payable and accrued expenses | $1,258,034 |
| Grants payable | $0 |
| Deferred revenue | $345,364 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $95,268,653 |
| Total liabilities | $96,872,051 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $97,964,807 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$21,802,039 |
| Retained earnings, endowment, accumulated income, or other funds | $16,458,017 |
| Total liabilities and net assets/fund balances | $189,492,836 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Austin Affordable Housing Corporation has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Oregon Corporation For Affordable Housing Chicago, IL PURPOSE: SUPPORT RESIDENTS OF AFFORDABLE HOUSING PROJECT PARTNERSHIPS IN FEDERALLY DECLARED DISASTER AREAS | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |