Affordable Housing Preservation Corporation
- Assets
- $618.4m
- Revenue
- $48.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Jacksonville, FL
- Founding
- Data as of
- 12/2022
- EIN
- 86-1646797
Organization Overview
Affordable Housing Preservation Corporation is located in Jacksonville, FL. 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. Affordable Housing Preservation 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 12/2022, Affordable Housing Preservation Corporation generated $48.1m in total revenue. All expenses for the organization totaled $64.3m during the year ending 12/2022. While expenses have increased by 111.2% per year over the past 2 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
OUR MISSION IS TO IMPROVE THE QUALITY OF FAMILIES, STUDENTS, INDIVIDUALS, AND COMMUNITIES BY HELPING TO DEVELOP, PRODUCE, ACQUIRE, MANAGE OR PRESERVE LOW-COST AFFORDABLE HOUSING, WORKFORCE HOUSING AND STUDENT HOUSING IN NEIGHBORHOODS ACROSS THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AGENCY IS A FLORIDA NOT-FOR-PROFIT ORGANIZATION FORMED ON JANUARY 13, 2021 TO PROVIDE QUALITY, AFFORDABLE HOUSING TO ALL PERSONS OF LOW INCOME ACROSS THE UNITED STATES OF AMERICA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deno Hicks Chairman | OfficerTrustee | 5 | $0 |
Beth Ann Smith Secretary | OfficerTrustee | 5 | $0 |
James Anderson Treasurer | OfficerTrustee | 5 | $0 |
Barbara Cocciolo Executive Director | Officer | 40 | $104,167 |
Dwayne Alexander Director | Trustee | 2 | $0 |
Chad Bowling Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Apartment Management Consultants Llc Property Management Fees | 12/30/22 | $5,124,207 |
Spain Companies Llc Developer Fees | 12/30/22 | $1,750,000 |
Ancient City Capital Llc Asset Management And Development Fees | 12/30/22 | $1,623,340 |
Greystar Worldwide Llc Property Management Fees | 12/30/22 | $754,943 |
Apartment Life Inc Social Services | 12/30/22 | $316,517 |
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 | $41,572,269 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,512,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,084,916 |
| 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. | $104,167 |
| Compensation of current officers, directors, key employees. | $52,083 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,969 |
| Fees for services: Management | $6,441,775 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $483,981 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,481,805 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,981,280 |
| Insurance | $3,526,596 |
| All other expenses | $2,437,857 |
| Total functional expenses | $64,269,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,208,543 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $324,891 |
| 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 | $1,157,132 |
| Net Land, buildings, and equipment | $565,222,380 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,454,549 |
| Total assets | $618,367,495 |
| Accounts payable and accrued expenses | $9,484,427 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $374,690,434 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $261,972,630 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $520,924 |
| Total liabilities | $646,668,415 |
| Net assets without donor restrictions | -$28,300,920 |
| 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 | $618,367,495 |