Allen A M E Housing Corp
- Assets
- $8.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Jamaica, NY
- Founding
- 09/1982
- Data as of
- 12/2023
- EIN
- 11-2600290
Organization Overview
Allen A M E Housing Corp is located in Jamaica, NY. The organization was established in 1982. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Allen A M E Housing Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allen A M E Housing Corp 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 12/2023, Allen A M E Housing Corp generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION PROVIDES AFFORDABLE HOUSING TO THE UNDERSERVED ECONOMICALLY CHALLENGED INDIVIDUALS OF THE SOUTH JAMAICA COMMUNITY OF QUEENS NEW YORK. THE ORGANIZATION ALSO WORKS WITH LOCAL DEVELOPMENT PROJECTS TO BRING AFFORDABLE HOUSING TO THE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES AFFORDABLE HOUSING TO ELIGIBLE APPLICANTS RESIDING IN THE SOUTH QUEENS NEIGHBORHOOD. SOME COMMERCIAL SPACES ARE RENTED TO BUSINESSES TO SUBSIDIZE THE BELOW MARKET RENTS CHARGED TO THE RESIDENCE AND TO REPAIR AND MAINTAIN THE BUILDINGS SO THEY REMAIN HABITABLE FOR THE OCCUPANTS AS WELL AS PAY OTHER EXPENSES TO CARRY-OUT THE BUSINESS OF THE CORPORATION.
THE CORPORATION ESTABLISHED A STEAM PROGRAM CREATING AN ENVIRONMENT WHERE YOUNG PEOPLE CAN DEVELOP AN UNDERSTANDING OF SUSTAINABLE ENTREPRENEURIAL AND AGRICULTURAL PRACTICES MAKING THE UPCOMING GENERATION EVEN MORE ECO-ACTIONABLE. THE STUDENT POSSESS AN UNDERSTANDING OF THE IMPORTANCE OF WORKING THROUGH PROJECTS TO OVERCOME CHALLENGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Elain Flake President | OfficerTrustee | 5 | $0 |
Kevin Howard Director Of Finance | OfficerTrustee | 40 | $115,000 |
Harold Flake Director Of Operations | OfficerTrustee | 40 | $100,000 |
Stefanie Kenchen Grant Writer | OfficerTrustee | 30 | $90,000 |
Evette C Ennis ESQ Board Secretary | OfficerTrustee | 3 | $0 |
Nadine Morency-Mohs Board Member | Trustee | 2 | $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 | $50,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Total Program Service Revenue | $1,011,876 |
| 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 | $1,061,876 |
| 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. | $205,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $159,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,382 |
| Payroll taxes | $28,672 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,000 |
| Fees for services: Accounting | $29,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,030 |
| Advertising and promotion | $0 |
| Office expenses | $22,890 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,712 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $202,161 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $145,326 |
| Insurance | $0 |
| All other expenses | $13,397 |
| Total functional expenses | $1,469,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $397,765 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $305,931 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,944,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,312,689 |
| Total assets | $7,999,120 |
| Accounts payable and accrued expenses | $537,801 |
| Grants payable | $0 |
| Deferred revenue | $5,450 |
| 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 | $2,933,576 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $598,898 |
| Total liabilities | $4,075,725 |
| Net assets without donor restrictions | $3,923,395 |
| 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 | $7,999,120 |