Affordable Housing and Economic Development Foundation
Affordable Housing and Economic Development Foundation
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About this organization
Mission
THE ORGANIZATION IS INCORPORATED TO SUPPORT THE PRESERVATION, REHABILITATION AND DEVELOPMENT OF, AND ACCESS TO, AFFORDABLE HOUSING, AND TO SUPPORT ECONOMIC OPPORTUNITIES FOR LOWER-INCOME FAMILIES. THE ORGANIZATION SHALL FUNCTION PRIMARILY AS A FUNDING ORGANIZATION THAT SECURES AFFORDABLE HOUSING AND ECONOMIC OPPORTUNITY GRANTS, LOANS OR OTHER FUNDING FROM GOVERNMENTAL AGENCIES, LENDERS, PUBLIC AND PRIVATE COMPANIES AND CHARITABLE ORGANIZATIONS, AND THEREAFTER PARTNERING WITH AFFORDABLE HOUSING DEVELOPERS AND SERVICE PROVIDERS TO PROMOTE, PRESERVE AND PROVIDE AFFORDABLE HOUSING AND ECONOMIC OPPORTUNITIES TO RESIDENTS IN NEED.
About
(1) THE ORGANIZATION MATERIALLY PARTICIPATED IN THE REDEVELOPMENT OF THE WAIPAHU TOWER, A 64-UNIT HIGH-RISE FACILITY RESTRICTED TO VERY LOW INCOME TENANTS.(2) THE ORGANIZATION WORKED TO BUILD FURTHER CAPACITY AS AN AFFORDABLE HOUSING NON-PROFIT BY SUBMITTING FUNDING APPLICATIONS UNDER THE LOW-INCOME HOUSING TAX CREDIT PROGRAM AS ADMINISTEREDBY THE STATE OF HAWAII.(3) THE ORGANIZATION SUBMITTED FUNDING APPLICATIONS WITH THE NATIONAL HOUSING TRUST FUND AND THE HOME FUND ADMINISTRATED BY THE CITY AND COUNTY OF HONOLULU AND HAWAII COUNTY HOUSING AND DEVELOPMENT OFFICE FOR THE ACQUISITION OF AFFORDABLE RENTAL HOUSING PROJECTS.(4) THE ORGANIZATION SUBMITTED APPLICATIONS AND SOLICITATION LETTERS FROM VARIOUS FUNDING ORGANIZATIONS(5) THE ORGANIZATION COORDINATED TENANT SOCIAL SERVICE AND PARTNERSHIP SERVICES WITH AFFILLIATES.THE ORGANIZATION IS CURRENTLY INVOLVED WITH THE FOLLOWING PROPERTIES:(1) PUA LOKE - NEW CONSTRUCTION OF 53-UNIT FACILITY CURRENTLY IN PRE-DEVELOPMENT.(2) PAHALA ELDERLY - ACQUISITION AND REHAB OF EXISTING 8-UNIT PROPERTY CURRENTLY IN PRE-DEVELOPMENT.(3) NANI O'PUNA - ACQUISITION AND REHAB OF AN EXISTING 32-UNIT FACILITY WITH CONSTRUCTION SET TO BEGIN IN 2020.(4) DE THOMPSON VILLAGE - ACQUSIITION AND REHAB OF EXISTING 84-UNIT SENIOR PROPERTY CURRENTLY IN PREDEVELOPMENT.(5) 1039 11TH AVE - NEW CONSTRUCTION OF 193-UNIT SENIOR FACILITY CURRENTLY IN PREDEVELOPMENT.(6) KOKUA - NEW CONSTRUCTION OF 222-UNIT SENIOR PROPERTY WITH CONSTRUCTION SET TO BEGIN IN 2021.(7) WAIMEA HUAKAI - NEW CONSTRUCTION OF 35-UNIT FAMILY PROPERTY WITH CONSTRUCTION SET TO COMPLETE IN 2019.(8) QUEEN EMMA TOWER - ADAPTIVE REHAB OF AN EXISTING DERELICT BUILDING FOR 71 UNITS WITH CONSTRUCTION SET TO BEGIN IN 2019.(9) WAIPAHU TOWER - ACQUISITION AND REHABILITATION OF 64-UNIT TOWER COMPLETED IN 2017.(10) RICE CAMP II - NEW CONSTRUCTION 30-UNIT SENIOR PROPERTY COMPLETED IN 2017.
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “The organization is incorporated to support the preservation, rehabilitation and development of, and access to, affordable housing, and to support economic opportunities for lower-income families.”.
When talking about its functions, they were outlined as: “The organization is incorporated to support the preservation, rehabilitation and development of, and access to, affordable housing, and to support economic opportunities for lower-income families. the organization shall function primarily as a funding organization that secures affordable housing and economic opportunity grants, loans or other funding from governmental agencies, lenders, public and private companies and charitable organizations, and thereafter partnering with affordable housing developers and service providers to promote, preserve and provide affordable housing and economic opportunities to residents in need.”.
- The legally reported state of operation for the non-profit is HI.
- The non-profit organization as of 2020 has a total of 1 employees reported on their form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are between $100,000 and $250,000.
- Revenue is between $250,000 and $500,000.
- Revenue less expenses is $58,830.
- The CEO's compensation within the organization is determined through a thorough evaluation by an impartial entity.
- The organization has 3 independent voting members.
- The organization was formed in 2015.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule J.
- The organization is required to file Schedule O.
- The organization pays $192,898 in salary, compensation, and benefits to its employees.
- The organization pays $8,247 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a business related organization transaction.
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