Affordable Homes For All
- Assets
- $29.9m
- Revenue
- $944.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 05/2011
- Data as of
- 06/2024
- EIN
- 27-3983571
Organization Overview
Affordable Homes For All is located in Minneapolis, MN. The organization was established in 2011. 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 Homes For All 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 06/2024, Affordable Homes For All generated $944.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $525.8k during the year ending 06/2024. While expenses have increased by 4.2% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND BUILD AFFORDABLE HOMES FOR ALL
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOMES FOR ALL HAS 2 PROGRAMS: THE DEVELOPMENT OF AFFORDABLE HOUSING UNITS AND THE OPERATION OF AFFORDABLE HOUSING UNITS. OUR MISSIONS IS TO DEVELOP, OPERATE, AND MAINTAIN HIGH QUALITY AFFORDABLE HOUSING. WE OPERATED AND MAINTAINED THE FOLLOWING AFFORDABLE PROPERTIES:AFFORDABLE HOMES FOR ALL ACQUIRED WINONA ARMS, INC. IN 2012. WINONA ARMS OWNS A 49-UNIT APARTMENT BUILDING IN WINONA, MINNESOTA. THE BUILDING OPERATES UNDER HUD SECTION 202 AND SECTION 8 REGULATIONS. AFFORDABLE HOMES FOR ALL ACQUIRED GENERAL PARTNERSHIP INTEREST IN EMERSON HOUSING, L.P. IN 2012. EMERSON HOUSING OWNS 44-UNIT MULTIFAMILY HOUSING PROJECT IN GARY, INDIANA. THE HOUSING OPERATES UNDER THE LOW INCOME HOUSING TAX CREDIT PROGRAM. AFFORDABLE HOMES FOR ALL CONTROLS SE HALL-WHITNEY YOUNG HOUSING CORPORATION (THE CORPORATION). THE CORPORATION OWNS 45-UNIT APARTMENT FOR THE ELDELY LOCATED IN SAINT PAUL, MINNESOTA (THE PROJECT). THE PROJECT OPERATES UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE CORPORATION'S FIRST MORTGAGE IS FINANCED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. AFFORDABLE HOMES FOR ALL HAS A GENERAL PARTNERSHIP INTEREST IN YORKTOWN CONTINENTAL, LP. YORKTOWN OPERATES A 264 - UNIT APARTMENT BUILDING LOCATED IN EDINA, MINNESOTA (THE PROJECT). THE PROJECT OPERATES UNDER HUD SECTION 8 REGULATIONS. THE MORTGAGE ON THE THE PROJECT IS INSURED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER SECTION 221(D)4 OF THE NATIONAL HOUSING ACT.AFFORDABLE HOMES FOR ALL HAS A GENERAL PARTNERSHIP INTEREST IN PLYMOUTH STEVENS, LP. THIS LIMITED PARTNERSHIP PURCHASED THE PROPERTIES OWNED BY PLYMOUTH AVENUE AND STEVENS HOUSE ON JUNE 30, 2016. THE PARTNERSHIP OPERATES A 207-UNIT APARTMENT BUILDING LOCATED IN MINNEAPOLIS, MINNESOTA (THE PROJECT). THE PROJECT OPERATES UNDER HUD SECTION 8 REGULATIONS. THE MORTGAGE ON THE PROJECT IS INSURED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER SECTION 221(D)(4) OF THE NATIONAL HOUSING ACT.AFFORDABLE HOMES FOR ALL HAS A GENERAL PARTNERSHIP INTEREST IN CECIL NEWMAN APARTMENTS, LP AND EFFECTIVE DECEMBER 31, 2021, NRRC ASSIGNED THEIR GENERAL PARTNERSHIP INTEREST AND NEF ASSIGNED THEIR LIMITED PARTNERSHIP INTEREST IN CECIL NEWMAN TO AFFORDABLE HOMES FOR ALL. CECIL NEWMAN OPERATES A 64-UNIT APARTMENT COMPLEX IN MINNEAPOLIS, MINNESOTA. ALL UNITS ARE ELIGIBLE TO RECEIVE SECTION 8 RENTAL ASSISTANCE. FINANCED WITH A HUD INSURED MORTGAGE.AFFORDABLE HOMES FOR ALL HAS A GENERAL PARTNERSHIP AND LIMITED PARTNERSHIP INTEREST IN WINNIPEG APARMENTS, LP. WINNIPEG OPERATES A MIXED USE APARTMENT BUILDING LOCATED IN ST. PAUL, MINNESOTA, CONTAINING 56 RESIDENTIAL UNITS AND 6,000 SQUARE FEET OF COMMERCIAL SPACE. FINANCED WITH A HUD INSURED MORTGAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Miller Chair | OfficerTrustee | 1 | $0 |
Joseph L Holmberg President | OfficerTrustee | 40 | $120,000 |
Bruce Wilson Treasurer | OfficerTrustee | 1 | $0 |
Nancy Holmberg Secretary | OfficerTrustee | 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 | $742,340 |
| Investment income | $201,882 |
| 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 | $944,222 |
| 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. | $120,000 |
| 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 | $0 |
| Fees for services: Legal | $28,328 |
| Fees for services: Accounting | $22,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,579 |
| All other expenses | $0 |
| Total functional expenses | $525,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $415,872 |
| Savings and temporary cash investments | $1,763,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,403,954 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,332,536 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,915,993 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $29,915,993 |
| 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 | $29,915,993 |