Ahepa 232 Inc
- Assets
- $4.3m
- Revenue
- $764.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 01/1984
- Data as of
- 06/2023
- EIN
- 35-1552643
Organization Overview
Ahepa 232 Inc is located in Indianapolis, IN. The organization was established in 1984. 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. Ahepa 232 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 06/2023, Ahepa 232 Inc generated $764.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $843.2k during the year ending 06/2023. 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 WAS ORGANIZED TO CONSTRUCT, OWN, AND OPERATE AN AFFORDABLE HOUSING APARTMENT COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING TO LOW INCOME INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelo Kostarides President | OfficerTrustee | 1 | $0 |
Angelo Zarvas Vice President | OfficerTrustee | 1 | $0 |
Andrew Spirrison Secretary | OfficerTrustee | 1 | $0 |
Irene Doney Treasurer | OfficerTrustee | 1 | $0 |
Irene Sarris Director | Trustee | 1 | $0 |
Ilias Sotos Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cpm Construction Planning & Management Construction - Unit Conversions | 6/29/17 | $1,515,169 |
Cpm Construction Planning & Management Construction - Rehab | 6/29/17 | $559,936 |
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 | $755,145 |
| Investment income | $1,052 |
| 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 | $764,202 |
| 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. | $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 | $53,325 |
| Fees for services: Legal | $1,222 |
| Fees for services: Accounting | $10,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,109 |
| Office expenses | $3,882 |
| Information technology | $7,889 |
| Royalties | $0 |
| Occupancy | $63,662 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,149 |
| Interest | $106,460 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140,310 |
| Insurance | $66,569 |
| All other expenses | $19,673 |
| Total functional expenses | $843,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,832 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,822 |
| 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 | $39,893 |
| Net Land, buildings, and equipment | $3,326,698 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $739,328 |
| Total assets | $4,330,573 |
| Accounts payable and accrued expenses | $56,604 |
| Grants payable | $0 |
| Deferred revenue | $1,276 |
| 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 | $2,790,132 |
| Other liabilities | $20,089 |
| Total liabilities | $2,868,101 |
| Net assets without donor restrictions | $1,462,472 |
| 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 | $4,330,573 |