Foundation For Affordable Rental Housing Holdings Inc
- Assets
- $1.1b
- Revenue
- $238.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 11/2005
- Data as of
- 12/2021
- EIN
- 20-2563055
Organization Overview
Foundation For Affordable Rental Housing Holdings Inc is located in Atlanta, GA. The organization was established in 2005. 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. Foundation For Affordable Rental Housing Holdings 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 12/2021, Foundation For Affordable Rental Housing Holdings Inc generated $238.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 47.3% each year . All expenses for the organization totaled $122.7m during the year ending 12/2021. While expenses have increased by 35.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESERVE AT FOX RIVER APARTMENTS, LOCATED AT 1222 MARKET PLACE DRIVE, YORKVILLE, ILLINOIS,60560 , HAS 132 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
SABAL CHASE APARTMENTS, LOCATED AT 100 CORNER DRIVE, FORT PIERCE, FLORIDA, 34947, HAS 340 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE
PASCO WOODS APARTMENTS, LOCATED AT 6135 RYERSON CIRCLE, WESLEY CHAPEL, FLORIDA, 33544, HAS 200 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Rosenberg Vp/secretary | OfficerTrustee | 1 | $0 |
Robert Barolak President | Officer | 1 | $0 |
Curtis Pollock Vp/asst. Secretary | Officer | 1 | $0 |
Tanya Eastwood Vice President | Officer | 1 | $0 |
Joseph E Thomas III Director | Trustee | 1 | $0 |
Kenneth Rogozinski Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greystone Property Management Corp Payroll Contracting | 12/30/21 | $17,825,667 |
Beltrock Llc Property Renovation | 12/30/21 | $3,390,730 |
Wright Way Remodeling And Construction Property Renovation | 12/30/21 | $678,663 |
Ricciaridis Heating And Air Conditioning Hvac Contract Work And Supplies | 12/30/21 | $462,590 |
Haynes Electric Electrical Contracting & Supplies | 12/30/21 | $421,494 |
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 | $441 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $441 |
| Total Program Service Revenue | $122,858,591 |
| Investment income | $20,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $115,275,862 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $238,155,388 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,524,986 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $8,090,644 |
| Fees for services: Legal | $1,316,741 |
| Fees for services: Accounting | $354,197 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $449,327 |
| Office expenses | $571,587 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $66,744 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,395 |
| Interest | $26,140,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,882,473 |
| Insurance | $4,216,589 |
| All other expenses | $7,531,390 |
| Total functional expenses | $122,650,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,129,238 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,609,418 |
| 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 | $3,772,591 |
| Net Land, buildings, and equipment | $863,070,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,116,104 |
| Other assets | $152,255,986 |
| Total assets | $1,081,953,835 |
| Accounts payable and accrued expenses | $32,071,010 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $957,492,051 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $989,563,061 |
| Net assets without donor restrictions | $0 |
| 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 | -$251 |
| Retained earnings, endowment, accumulated income, or other funds | $92,391,025 |
| Total liabilities and net assets/fund balances | $1,081,953,835 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Affordable Rental Housing Holdings Inc has recieved totaling $441.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $441 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navigate Affordable Housing Partners Inc Birmingham, AL | $60,725,438 | $765,013,461 |
Foundation For Affordable Rental Housing Holdings Inc Atlanta, GA | $1,081,953,835 | $238,155,388 |
Presbyterian College Clinton, SC | $178,788,042 | $82,344,801 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Institute For Intergovernmental Research Inc Tallahassee, FL | $7,668,279 | $34,374,531 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Habitat For Humanity In Atlanta Inc Atlanta, GA | $81,551,003 | $20,263,546 |
Habitat For Humanity Of Lee & Hendry Counties Inc North Fort Myers, FL | $37,502,621 | $24,631,007 |
Habitat For Humanity Of Collier County Inc Naples, FL | $122,499,137 | $30,188,706 |
I M Sulzbacher Center For The Homeless Inc Jacksonville, FL | $19,053,781 | $20,126,235 |