Fox Lake Ahf Inc

The information for Fox Lake Ahf Inc is as of the organization's most recent filing in December 2015. This organization is located in Atlanta, GA. It has been in existence for 10 years, following its founding in 2005.

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.

Fox Lake Ahf 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 Fox Lake Ahf Inc is to provide low income housing.

Program Areas

Program Area 1: Lakeside Pointe Apartments, located in Indianapolis, IN, provides low income housing to those in need of public housing assistance. The complex consists of 558 multifamily units, all leased to qualified applicants.

Program Area 2: Fox Club Apartments, located at 4401 South Keystone Avenue, Indianapolis, IN, provides low income housing to those individuals needing public housing assistance, with 336 multifamily units leased to this end.

Board Governance

Fox Lake Ahf Inc is well-governed, with a board of five voting members and five independent members. This ensures that the organization is held accountable to its stakeholders and that potential conflicts of interest are avoided. The organization has also delegated management to an outside firm, which can help ensure that operations are run efficiently and effectively. Furthermore, board and committee meetings are documented, providing transparency and accountability. However, Fox Lake Ahf Inc could be better-governed by implementing additional policies and procedures. The organization does not have a conflict of interest policy, a whistleblower policy, or a document retention policy, all of which are important for ethical and responsible management. Additionally, the organization does not substantiate or review leadership or officer salaries, which could lead to potential financial mismanagement. Despite these shortcomings, Fox Lake Ahf Inc provides copies of the 990 to the board prior to filing, which is an important step in ensuring transparency and accountability.

Organization Growth

Fox Lake Ahf Inc appears to have grown over the given time period, as evidenced by an increase in Program Service Revenue and Total Revenue. Although Investment Income decreased, Total Expenses also decreased, resulting in a net growth.