Affordable Housing Preservation Corporation

Analysis

Affordable Housing Preservation Corporation is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in April 2021, 5 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, Affordable Housing Preservation Corporation reported income of $43.6m and spending of $75.4m, spending 173% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $2.3m to $43.6m (+1802%), an average of +336% a year. The sharpest change came in the year to December 2022, when income rose by 1996%. Over the whole period it spent 164% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Affordable Housing Preservation Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Oakland Affordable Housing Preservation Initiatives ($43.4m), St Matthews House Inc ($43.7m) and Baltimore Affordable Housing Development Inc ($43.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $250k (0.3% of expenses). Other salaries and wages came to $23k. At year end it held assets of $590.4m against liabilities of $650.5m, net assets of -$60.1m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.