Housing Affordability Trust
- Assets
- $52.1m
- Revenue
- $6.3m
- Investments
- $28.5m
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 46-1003393
Organization Overview
Housing Affordability Trust is located in Nashville, TN. The organization was established in 2014. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, 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. Housing Affordability Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2016, Housing Affordability Trust has awarded 91 individual grants totaling $15,657,334. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF HOUSING AFFORDABILITY TRUST IS TO PROVIDE FINANCIAL SUPPORT TO QUALIFIED CHARITIES (AS DEFINED BY THE TRUST AGREEMENT) AND GOVERNMENTAL AUTHORITIES (AS DEFINED BY THE TRUST AGREEMENT) THAT PROMOTE AND ADVANCE HOUSING PROJECTS FOR PERSONS WHO ARE MEMBERS OF LOW-INCOME FAMILIES AND VERY LOW-INCOME FAMILIES (INCLUDING ELDERLY AND HANDICAPPED PERSONS) BY FINANCING THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF ONE OR MORE BUILDINGS AND RELATED FACILITIES AND TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE BY PROVIDING DECENT, SAFE, AND SANITARY HOUSING, IN EACH CASE PRIMARILY IN JEFFERSON COUNTY, ALABAMA, AND ELSEWHERE THROUGHOUT THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RECEIVES CONTRIBUTIONS AND EARNS INVESTMENT INCOME TO FUND ITS MISSION TO PROVIDE FINANCIAL SUPPORT TO QUALIFIED CHARITIES (AS DEFINED BY THE TRUST AGREEMENT) AND GOVERNMENTAL AUTHORITIES (AS DEFINED BY THE TRUST AGREEMENT) THAT PROMOTE AND ADVANCE HOUSING PROJECTS FOR PERSONS WHO ARE MEMBERS OF LOW-INCOME FAMILIES AND VERY LOW-INCOME FAMILIES (INCLUDING ELDERLY AND HANDICAPPED PERSONS) BY FINANCING THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF ONE OR MORE BUILDINGS AND RELATED FACILITIES AND TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE BY PROVIDING DECENT, SAFE, AND SANITARY HOUSING, IN EACH CASE PRIMARILY IN JEFFERSON COUNTY, ALABAMA, AND ELSEWHERE THROUGHOUT THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Synovus Trust Company Na Trustee | 40 | $230,041 | |
Sam Parker Trust Advisory Board | 1 | $0 | |
Hugo Isom Trust Advisory Board | 1 | $0 | |
Michael Davis Trust Advisory Board | 1 | $0 | |
Perry Shuttlesworth Trust Advisory Board | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adams & Reese Llp Legal Services | 12/30/17 | $119,920 |
Liv Apartment Partners Llc Consulting Services | 12/30/17 | $110,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $39,408 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,102,584 |
| Capital Gain Net Income | $6,102,584 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $116,615 |
| Total Revenue | $6,258,607 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $230,041 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,145 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $685,088 |
| Total operating and administrative expenses | $1,150,798 |
| Contributions, gifts, grants paid | $4,585,140 |
| Total expenses and disbursements | $5,735,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,502,776 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,941,568 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $52,052,062 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Housing Affordability Trust has awarded $4,585,140 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Odenville, AL PURPOSE: DISCRETIONARY | $601,545 |
NAVIGATE COMMUNITIES LLC PURPOSE: DISCRETIONARY | $518,339 |
TITUSVILLE DEVELOPMENT PURPOSE: DISCRETIONARY | $506,650 |
Birmingham, AL PURPOSE: DISCRETIONARY | $424,748 |
AIDS ALABAMA INC PURPOSE: DISCRETIONARY | $372,968 |
Bessemer, AL PURPOSE: DISCRETIONARY | $354,215 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Capital Inc Decatur, GA | $142,652,504 | $11,518,951 |
St Dominic Health Services Foundation Inc Jackson, MS | $23,422,483 | $3,942,568 |
Housing Affordability Trust Nashville, TN | $52,052,062 | $6,258,607 |
Eastern Eight Community Development Corporation Johnson City, TN | $18,111,272 | $3,788,608 |
St Josephs Villa Foundation Richmond, VA | $27,697,790 | $1,723,000 |
Captrust Community Foundation Inc Raleigh, NC | $4,464,164 | $1,082,695 |
Thomasville-Thomas County Habitat For Humanity Inc Thomasville, GA | $1,651,165 | $641,558 |
Kingswood Senior Living Community Foundation Kansas City, MO | $1,424,825 | $366,812 |
Snapping Shoals Electric Trust Inc Covington, GA | $122,535 | $447,686 |
Habitat For Humanity Of North Carolina Inc Raleigh, NC | $680,613 | $355,089 |
Faithworks Inc Winchester, VA | $18,501 | $230,860 |
Danville Lions Foundation Inc Danville, VA | $3,088 | $202,004 |