Affordable Housing America Inc
- Assets
- $4.5m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Atlanta, GA
- Founding
- 09/2005
- Data as of
- 12/2020
- EIN
- 20-3310723
Organization Overview
Affordable Housing America 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. As of 12/2020, Affordable Housing America Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Affordable Housing America 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 12/2020, Affordable Housing America Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $2.4m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SPONSOR, ACQUIRE, DEVELOP, OPERATE AND/OR OVERSEE OPERATIONS OF AFFORDABLE AND SENIOR MULTI-FAMILY HOUSING, INCLUDING HOUSING WHICH RECEIVES FEDERAL, STATE OR LOCAL SUBSIDIES, AS WELL AS PRESERVATION OF AFFORDABLE AND SENIOR HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SPONSOR, ACQUIRE, DEVELOP, OPERATE AND/OR OVERSEE OPERATIONS OF AFFORDABLE MULTI-FAMILY HOUSING, INCLUDING HOUSING WHICH RECEIVES FEDERAL, STATE OR LOCAL SUBSIDIES, AS WELL AS PRESERVATION OF AFFORDABLE HOUSING. THE ORGANIZATION OWNS, OPERATES OR MANAGES 6 AFFORDABLE HOUSING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter H Wasserman Executive Director | OfficerTrustee | 40 | $150,000 |
Stephen M Wasserman Vice President | OfficerTrustee | 40 | $120,833 |
L Matthew Stone Director | Trustee | 1 | $0 |
Amy Moorehouse Director | Trustee | 1 | $0 |
Christopher M Buerkle Director | Trustee | 1 | $0 |
Aaron Kuney 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 | $1,016,191 |
| Investment income | $2,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,585,724 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,692,750 |
| 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. | $270,833 |
| Compensation of current officers, directors, key employees. | $270,833 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $323,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,967 |
| Payroll taxes | $3,701 |
| Fees for services: Management | $55,776 |
| Fees for services: Legal | $13,341 |
| Fees for services: Accounting | $53,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $197,407 |
| Advertising and promotion | $0 |
| Office expenses | $109,543 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $219,809 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,620 |
| Interest | $479,845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $125,627 |
| Insurance | $33,312 |
| All other expenses | $20,389 |
| Total functional expenses | $2,369,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,995 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $248,690 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,645,691 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,528,062 |
| Total assets | $4,465,438 |
| Accounts payable and accrued expenses | $117,609 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $3,682,769 |
| 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 | $443,868 |
| Total liabilities | $4,244,246 |
| Net assets without donor restrictions | $221,192 |
| 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 | $4,465,438 |