Community Affordable Housing Equity Corporation
Community Affordable Housing Equity Corporation
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About this organization
Mission
Promote affordable housing and communities for the benefit of low/moderate-income population.
About
CAHEC raises and invests equity capital in qualified low-income housing tax credit and other tax credit products. In 2019, CAHEC raised equity capital of $169,889,712 and invested in 1,955 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.
Interesting data from their 2020 990 filing
The non-profit's mission, as documented in the filing, is “Cahec's primary mission is to raise capital to finance the development of affordable multi-family rental housing under the provisions of the federal low-income housing tax credit program (section 42 of irc); and make available an array of supportive service initiatives.”.
When explaining its purpose, the activities were described as: “Promote affordable housing and communities for the benefit of low/moderate-income population.”.
- The non-profit is legally allowed to operate in the state of NC, as reported.
- The filing provides the non-profit's address in 2020 as 7700 FALLS OF NEUSE ROAD NO 200, RALEIGH, NC, 27615.
- The non-profit has a total of 46 employees, as reported on their form for 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $239,930.
- The organization has 9 independent voting members.
- The organization was formed in 1992.
- The organization pays $6,734,811 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.