Foundation for Affordable Rental Housing Holdings Inc

Analysis

Foundation for Affordable Rental Housing Holdings Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in November 2005, 21 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation for Affordable Rental Housing Holdings Inc reported income of $569.6m and spending of $135.3m, leaving 76% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $44.1m to $569.6m (+1192%), an average of +90% a year. The sharpest change came in the year to December 2023, when income rose by 402%. Over the whole period it spent 54% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Foundation for Affordable Rental Housing Holdings Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within GA. Charities of a similar size with the same main cause include Front Porch Communities and Services ($381.3m), Navigate Affordable Housing Partners Inc ($834.3m) and Metropolitan Boston Housing Partnership Inc ($359.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 42% of the total. At year end it held assets of $702.1m against liabilities of $225.9m, net assets of $476.2m.