Austin Affordable Housing Corporation
- Assets
- $216.5m
- Revenue
- $62.0m
- Investments
- $87.7m
- Employees
- 0
- Location
- Austin, TX
- Founding
- Data as of
- 03/2023
- EIN
- 41-2121187
Organization Overview
Austin Affordable Housing Corporation is located in Austin, TX. 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. Austin Affordable Housing Corporation 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 03/2023, Austin Affordable Housing Corporation generated $62.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 22.7% each year . All expenses for the organization totaled $30.9m during the year ending 03/2023. While expenses have increased by 3.8% per year over the past 3 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE AND PRESERVE QUALITY, AFFORDABLE HOUSING OPPORTUNITIES FOR LOW- TO MODERATE-INCOME FAMILIES IN AUSTIN AS WELL AS PROVIDE FINANCIAL LITERACY AND HOMEOWNERSHIP OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES SOCIAL AND HUMAN SUPPORT SERVICES, SUCH AS EDUCATIONAL PROGRAMS, TRAINING PROGRAMS, AND FAMILY COUNSELING IN ORDER TO PROMOTE THE HEALTH AND WELFARE OF ITS RESIDENTS AND A DOWN PAYMENT ASSISTANCE PROGRAM TO ASSIST FIRST-TIME HOMEBUYERS WHO ARE RESIDENTS OF PUBLIC HOUSING OR THE HOUSING CHOICE VOUCHER PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Kowal Vice Preside | OfficerTrustee | 8 | $0 |
Mary Apostolou Director | Trustee | 1 | $0 |
Charles Bailey Director | Trustee | 1 | $0 |
Edwina Carrington Director | Trustee | 1 | $0 |
Barbara Chen Treasurer | OfficerTrustee | 2 | $0 |
Tyra Duncan-Hall 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 | $55,374,488 |
| Investment income | $786,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$543,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,957,926 |
| 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 | $1,842,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,137,076 |
| Payroll taxes | $0 |
| Fees for services: Management | $708,341 |
| Fees for services: Legal | $210,435 |
| Fees for services: Accounting | $89,922 |
| 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 | $1,268,917 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,882 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,302,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,004,114 |
| Insurance | $972,839 |
| All other expenses | $781,011 |
| Total functional expenses | $30,898,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,412,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,913,776 |
| 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 | $567,825 |
| Net Land, buildings, and equipment | $69,405,552 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $87,732,828 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,475,107 |
| Total assets | $216,507,483 |
| Accounts payable and accrued expenses | $604,824 |
| Grants payable | $0 |
| Deferred revenue | $91,853 |
| 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 | $92,131,061 |
| Total liabilities | $92,827,738 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $107,413,603 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$14,792,818 |
| Retained earnings, endowment, accumulated income, or other funds | $31,058,960 |
| Total liabilities and net assets/fund balances | $216,507,483 |