Community Affordable Housing Equity Corporation

Organization Overview

Community Affordable Housing Equity Corporation is located in Raleigh, NC. The organization was established in 1997. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Community Affordable Housing Equity Corporation employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Affordable Housing Equity 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 12/2023, Community Affordable Housing Equity Corporation generated $10.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $14.7m during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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.

Since 2015, Community Affordable Housing Equity Corporation has awarded 62 individual grants totaling $827,329. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE AFFORDABLE HOUSING AND COMMUNITIES FOR THE BENEFIT OF LOW/MODERATE-INCOME POPULATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CAHEC RAISES AND INVESTS EQUITY CAPITAL IN QUALIFIED LOW-INCOME HOUSING TAX CREDIT AND OTHER TAX CREDIT PRODUCTS. IN 2023, CAHEC RAISED EQUITY CAPITAL OF $185,042,807 AND INVESTED IN 1,077 HOUSING UNITS. CAHEC ALSO PROVIDES CAPITAL THROUGH A SERIES OF COMMUNITY INVESTMENTS WHICH EMPOWERS RESIDENTS,PROMOTES THE DEVELOPMENT OF AFFORDABLE RENTAL AND OWNERSHIP HOUSING, AND FOSTERS SUSTAINABILITY WITHIN THE COMMUNITIES THAT IT SERVES.


IN 2023, CAHEC'S COMMUNITY INVESTMENTS TOTALED $666,367 TO RESIDENTS, COMMUNITIES, DEVELOPMENTS, AND ORGANIZATIONS. THESE INITIATIVES, ADMINISTERED AND FUNDED BY CAHEC, ARE (I) FOR THE BENEFIT OF THE RESIDENTS WHO RESIDE IN THE DEVELOPMENTS THAT CAHEC INVESTS, AND (II) DESIGNED TO EMPOWER RESIDENTS BY ENCOURAGING THEM TO SET AND ACHIEVE GOALS, STRENGTHEN JOB SKILLS, AND TAKE CARE OF THEIR COMMUNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Board Member
$0
Name Not Listed
Chairman Of The Board
$0
Name Not Listed
Board Member
$0
Name Not Listed
Board Member
$0
Name Not Listed
Secretary & Treasurer
$0
Name Not Listed
Vice Chair
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Manatt Phelps & Phillips Llp
Legal
$529,220
Net Friends Inc
It Consulting
$286,980
Kutak Rock Llp
Legal
$263,085
Forvis Llp
Audit & Tax
$149,661
Bowen National Research Llc
Market Studies
$146,100
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$5,000
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$125,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$130,000
Total Program Service Revenue$10,094,206
Investment income $24,072
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 $10,248,278

Grants Awarded

Over the last fiscal year, Community Affordable Housing Equity Corporation has awarded $190,341 in support to 16 organizations.

Grant RecipientAmount

ASHEVILLE AREA HABITAT FOR HUMANITY

PURPOSE: Open Doors Homeownership Grant

$25,000

BUT GOD MINISTRIES

PURPOSE: Open Doors Homeownership Grant

$10,000

HANOVER AND KING WILLIAM HABITAT FOR HUMANITY

PURPOSE: Open Doors Homeownership Grant

$15,000

CHARLESTON SQUARE LTD

PURPOSE: Rex Williams Wellness Grant

$7,971

MINERAL SPRINGS COMMONS LLC

PURPOSE: Rex Williams Wellness Grant

$7,955

MOUNTAIN LAUREL MANOR III VA LLC

PURPOSE: Rex Williams Wellness Grant

$8,060
View Grant Profile

Peer Organizations

Organization NameAssets
Lutheran Home-Hickory West Inc
Salisbury, NC
$15,130,191
Community Affordable Housing Equity Corporation
Raleigh, NC
$10,248,278
Lutheran Home - Wilmington Inc
Salisbury, NC
$13,182,205
Lutheran Home-Albemarle Inc
Salisbury, NC
$9,894,918
Chambliss Center For Children
Chattanooga, TN
$9,199,192
Covenant House Georgia Inc
Atlanta, GA
$6,679,359
Passage Home Inc
Raleigh, NC
$5,411,567
Seacliff Village Shopping Center Inc
Charlotte, NC
$9,623,348
South Carolina Community Loan Fund
Charleston, SC
$6,646,393
The House Inc
Woodbridge, VA
$3,944,662
Monroe Harding Inc
Nashville, TN
$3,388,870
Pittsboro Christian Village Inc
Pittsboro, NC
$3,993,644
Williams Home Incorporated
Lynchburg, VA
$3,164,578
Movement Resources
Fort Mill, SC
$115,502,899
Skyline Cap Inc
Madison, VA
$3,219,933
Emanuel-Morris Brown-Ebenezer Apartments Inc
West Columbia, SC
$2,530,658
Greater Nashville Apartment Association Inc
Nashville, TN
$2,189,052
Greater Charlotte Apartment Association
Charlotte, NC
$2,080,541
Triangle Apartment Association Inc
Raleigh, NC
$1,991,994
Mason Housing Inc
Fairfax, VA
$24,484,897
Journey Home Inc
Murfreesboro, TN
$4,806,509
Forsyth Economic Ventures Inc
Winstonsalem, NC
$1,405,153
Lake Logan Episcopal Center
Canton, NC
$1,506,588
Apartment Association Of North Carolina
Raleigh, NC
$1,366,076
Community Home Trust
Chapel Hill, NC
$941,098

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