Affordable Housing Solutions Inc
- Assets
- $4.4m
- Revenue
- $640.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Sioux Falls, SD
- Founding
- 04/1995
- Data as of
- 09/2021
- EIN
- 46-0348562
Organization Overview
Affordable Housing Solutions Inc is located in Sioux Falls, SD. The organization was established in 1995. 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. Affordable Housing Solutions 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 09/2021, Affordable Housing Solutions Inc generated $640.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $662.9k during the year ending 09/2021. While expenses have increased by 0.6% per year over the past 6 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
TO IMPROVE THE QUALITY OF LIFE FOR THE SIOUX FALLS COMMUNITY AND ITS LOWER INCOME RESIDENTS BY PROVIDING AFFORDABLE, DECENT, SAFE AND NONDISCRIMINATORY HOUSING OPPORTUNITIES THAT FURTHER SELF-SUFFICIENCY AND/OR INDEPENDENT LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION AND ADVANCEMENT OF HOUSING PROJECTS AND RELATED FACILITIES FOR THE RESIDENTS OF SIOUX FALLS, SOUTH DAKOTA
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith W Thompson President | OfficerTrustee | 1 | $0 |
Ruth Christopherson Secretary/treasurer | OfficerTrustee | 1 | $0 |
Brian Jans Vice President | OfficerTrustee | 1 | $0 |
Karl Fulmer Executive Director | Officer | 1 | $0 |
Carrie Ensz Member | Trustee | 1 | $0 |
David King Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,829 |
| 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 | $70,829 |
| Total Program Service Revenue | $566,860 |
| Investment income | $356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $640,267 |
| 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 | $112,206 |
| Pension plan accruals and contributions | $82 |
| Other employee benefits | $21,433 |
| Payroll taxes | $8,076 |
| Fees for services: Management | $89,697 |
| Fees for services: Legal | $160 |
| Fees for services: Accounting | $11,579 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,533 |
| Office expenses | $16,675 |
| Information technology | $900 |
| Royalties | $0 |
| Occupancy | $68,554 |
| Travel | $6 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $724 |
| Interest | $25,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,176 |
| Insurance | $17,452 |
| All other expenses | $661 |
| Total functional expenses | $662,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $754,477 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,037 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,966 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,527 |
| Net Land, buildings, and equipment | $2,920,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $648,168 |
| Total assets | $4,382,029 |
| Accounts payable and accrued expenses | $57,928 |
| Grants payable | $0 |
| Deferred revenue | $3,188 |
| 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 | $3,731,908 |
| Total liabilities | $3,793,024 |
| Net assets without donor restrictions | $360,537 |
| Net assets with donor restrictions | $228,468 |
| 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 | $4,382,029 |
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|---|---|---|
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Irc Ii Inc Omaha, NE | $77,092,812 | $15,244,348 |
Southwest Minnesota Housing Partnership Slayton, MN | $59,310,088 | $10,657,099 |
Reach For Your Potential Inc Iowa City, IA | $7,743,905 | $10,140,331 |
Ppl Properties Minneapolis, MN | $55,862,410 | $5,681,463 |
Ark Regional Services Inc Laramie, WY | $4,970,092 | $7,518,317 |
Region Xii Council Of Governments Inc Carroll, IA | $20,470,902 | $9,309,351 |
Homeword Inc Missoula, MT | $58,657,401 | $14,897,886 |
Grand Forks Homes Inc Grand Forks, ND | $15,508,002 | $4,473,354 |
Community Action Region Vi Jamestown, ND | $1,501,649 | $3,945,545 |
Housing In Omaha Inc Omaha, NE | $17,600,066 | $3,936,471 |
Ponderosa Apartments Inc Spearfish, SD | $17,012,312 | $3,089,734 |