African American Alliance For Home Ownership Inc
- Assets
- $631.9k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Portland, OR
- Founding
- 09/2006
- Data as of
- 06/2022
- EIN
- 74-3140832
Organization Overview
African American Alliance For Home Ownership Inc is located in Portland, OR. The organization was established in 2006. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, African American Alliance For Home Ownership Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African American Alliance For Home Ownership 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 06/2022, African American Alliance For Home Ownership Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 24.9% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
INCREASE HOMEOWNERSHIP AND ECONOMIC STABILITY FOR AFRICAN AMERICANS AND OTHER UNDERSERVED INDIVIDUALS BY PROVIDING ACCESS TO ADVOCACY, AWARENESS AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AAAH PROVIDES CLIENTS WITH A PRE-PURCHASE, HUD CERTIFIED COUNSELOR TO GUIDE THEM THROUGH THE HOME BUYING PROCESS. COUNSELORS ALSO HELP THE CLIENTS TO BECOME MORTGAGE READY, DEVELOP A MONTHLY BUDGET AND SAVINGS PLAN, AND HELP THEM REPAIR THEIR HOME. THE IDA PROGRAM CONTINUES TO IMPROVE DUE TO THE OVERWHELMING DEMAND FOR THE ASSISTANCE IT PROVIDES. AAAH HAS A WAITING LIST OF 15 PARTICIPANTS AND RECEIVED AN ANNUAL REWARD THAT WAS HIGHER THAN THE PRIOR YEAR. THIS WILL ALLOW AAAH TO ASSIST MORE CLIENTS IN PREPARING FOR HOMEOWNERSHIP. DURING THE YEAR MORE THAN 500 HOUSEHOLDS IMPROVED THEIR MORTGAGE READINESS AND 80 HOUSEHOLDS BECAME MORTGAGE READY. AAAH IS IDENTIFYING OTHER RESOURCES TO COUPLE WITH. WE HAVE AN OPPORTUNITY TO EXTEND SOME CLIENTS TO 5 YEARS WHICH WILL PROVIDE ADDITIONAL TIME TO SAVE MONEY INCREASE MATCHED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Roberts Executive Director | Officer | 40 | $99,000 |
Charles Funches Treasurer | OfficerTrustee | 1 | $0 |
Geoff Boyd Board Member | OfficerTrustee | 1 | $0 |
Carol Collier Secretary | OfficerTrustee | 1 | $0 |
Ernest Hill III Board Member | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,338,348 |
| 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 | $1,338,348 |
| Total Program Service Revenue | $35,320 |
| Investment income | $0 |
| 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 | $1,373,668 |
| 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 | $397,475 |
| Pension plan accruals and contributions | $3,255 |
| Other employee benefits | $39,524 |
| Payroll taxes | $33,379 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $466 |
| Fees for services: Accounting | $5,447 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,635 |
| Advertising and promotion | $1,622 |
| Office expenses | $44,244 |
| Information technology | $10,633 |
| Royalties | $0 |
| Occupancy | $33,264 |
| Travel | $7,871 |
| 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 | $1,321 |
| Insurance | $17,026 |
| All other expenses | $0 |
| Total functional expenses | $1,320,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,369 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $201,217 |
| 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 | $3,302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $631,888 |
| Accounts payable and accrued expenses | $19,201 |
| Grants payable | $0 |
| Deferred revenue | $95,009 |
| 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 | $114,210 |
| Net assets without donor restrictions | $0 |
| 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 | $517,678 |
| Total liabilities and net assets/fund balances | $631,888 |