Foundation For Affordable Rental Housing Holdings Inc
Foundation For Affordable Rental Housing Holdings Inc shows significant asset growth and revenue volatility with no reported officer compensation.
EIN: 202563055 · Atlanta, GA · NTEE: L20 · Updated: 2026-03-28
Is Foundation For Affordable Rental Housing Holdings Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation For Affordable Rental Housing Holdings Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Foundation For Affordable Rental Housing Holdings Inc
Foundation For Affordable Rental Housing Holdings Inc (EIN: 202563055) is a nonprofit organization based in Atlanta, GA, classified under NTEE code L20. The organization reported total revenue of $76.8M and total assets of $779.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Affordable Rental Housing Holdings Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Affordable Rental Housing Holdings Inc is a major nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 78.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $569.6M |
| Total Expenses | $135.3M |
| Surplus / Deficit | +$434.3M |
| Total Assets | $702.1M |
| Total Liabilities | $225.9M |
| Net Assets | $476.2M |
| Operating Margin | 76.2% |
| Debt-to-Asset Ratio | 32.2% |
| Months of Reserves | 62.3 months |
Financial Health Grade: A
In 2023, Foundation For Affordable Rental Housing Holdings Inc reported a surplus of $434.3M with revenue exceeding expenses, holds 62.3 months of operating reserves (strong position), has a debt-to-asset ratio of 32.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Foundation For Affordable Rental Housing Holdings Inc's revenue has grown at a compound annual growth rate (CAGR) of 78.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +402.1% | -17.4% | -35.5% |
| 2022 | -52.4% | +33.6% | +0.7% |
| 2021 | +200.2% | +51.4% | +22.8% |
| 2020 | +79.9% | +30.0% | +36.0% |
| 2019 | +3.1% | +29.3% | +19.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation For Affordable Rental Housing Holdings Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Foundation For Affordable Rental Housing Holdings Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $434.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 32.2%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an entity of its size with assets reaching over $700 million. This either indicates that executives are not compensated, or their compensation is reported under different categories, requiring further scrutiny for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation For Affordable Rental Housing Holdings Inc's IRS 990 filings:
- Consistent 0% officer compensation reported for a large organization, potentially obscuring executive remuneration.
- Significant year-over-year revenue volatility without clear explanations in the provided data.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary, hindering efficiency assessment.
Strengths
The following positive indicators were identified for Foundation For Affordable Rental Housing Holdings Inc:
- Substantial and consistent growth in assets, from $60.4M in 2014 to $779.5M in the latest period, indicating financial stability and growth.
- Focus on affordable rental housing, addressing a critical societal need (NTEE Code L20).
Frequently Asked Questions about Foundation For Affordable Rental Housing Holdings Inc
Is Foundation For Affordable Rental Housing Holdings Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation For Affordable Rental Housing Holdings Inc (EIN: 202563055) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Foundation For Affordable Rental Housing Holdings Inc spend its money?
Foundation For Affordable Rental Housing Holdings Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Foundation For Affordable Rental Housing Holdings Inc tax-deductible?
Foundation For Affordable Rental Housing Holdings Inc is registered as a tax-exempt nonprofit (EIN: 202563055). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Foundation For Affordable Rental Housing Holdings Inc fund its operations given the 0% officer compensation reported?
The consistent reporting of 0% officer compensation suggests that executive salaries might be covered by related entities, reported under different expense categories, or that the organization operates with entirely volunteer leadership at the officer level. Further investigation into their financial statements would be needed to clarify this.
What is the specific breakdown of program spending for Foundation For Affordable Rental Housing Holdings Inc?
The provided IRS 990 data does not offer a detailed breakdown of program spending. To understand how effectively the organization is delivering on its mission, a deeper dive into their full financial statements or Schedule O of their 990 would be necessary to identify specific program activities and their associated costs.
Why did the organization's revenue fluctuate so dramatically, from $11.5M in 2014 to $569.5M in 2023?
Such significant revenue fluctuations could be attributed to various factors, including large one-time grants, property sales, changes in investment income, or the acquisition/disposition of significant assets. Without more detailed financial notes, the exact causes remain unclear.
Filing History
IRS 990 filing history for Foundation For Affordable Rental Housing Holdings Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foundation For Affordable Rental Housing Holdings Inc's revenue has grown by 107361.6%, moving from $530K to $569.6M. Total assets increased by 31223.1% over the same period, from $2.2M to $702.1M. Total functional expenses rose by 14962.9%, from $898K to $135.3M. In its most recent filing year (2023), Foundation For Affordable Rental Housing Holdings Inc reported a surplus of $434.3M, with revenue exceeding expenses. The organization holds $225.9M in liabilities against $702.1M in assets (debt-to-asset ratio: 32.2%), resulting in net assets of $476.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $569.6M | $135.3M | $702.1M | $225.9M | — | — |
| 2022 | $113.4M | $163.9M | $1.1B | $1.0B | — | View 990 |
| 2021 | $238.2M | $122.7M | $1.1B | $989.6M | — | View 990 |
| 2020 | $79.3M | $81.0M | $881.1M | $904.3M | — | View 990 |
| 2019 | $44.1M | $62.3M | $647.7M | $669.2M | — | View 990 |
| 2018 | $42.8M | $48.2M | $540.5M | $543.7M | — | View 990 |
| 2017 | $33.5M | $44.9M | $504.2M | $502.0M | — | View 990 |
| 2016 | $31.1M | $27.3M | $226.7M | $212.9M | — | View 990 |
| 2015 | $15.9M | $14.8M | $151.7M | $141.7M | — | View 990 |
| 2014 | $11.6M | $2.7M | $60.4M | $51.6M | — | View 990 |
| 2013 | $0 | $311 | $1 | $0 | — | View 990 |
| 2012 | $1.4M | $954K | $29K | $1.8M | — | View 990 |
| 2011 | $530K | $898K | $2.2M | $4.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $569.6M, expenses of $135.3M, and assets of $702.1M (revenue +402.1% year-over-year).
- 2022: Revenue of $113.4M, expenses of $163.9M, and assets of $1.1B (revenue -52.4% year-over-year).
- 2021: Revenue of $238.2M, expenses of $122.7M, and assets of $1.1B (revenue +200.2% year-over-year).
- 2020: Revenue of $79.3M, expenses of $81.0M, and assets of $881.1M (revenue +79.9% year-over-year).
- 2019: Revenue of $44.1M, expenses of $62.3M, and assets of $647.7M (revenue +3.1% year-over-year).
- 2018: Revenue of $42.8M, expenses of $48.2M, and assets of $540.5M (revenue +27.6% year-over-year).
- 2017: Revenue of $33.5M, expenses of $44.9M, and assets of $504.2M (revenue +7.6% year-over-year).
- 2016: Revenue of $31.1M, expenses of $27.3M, and assets of $226.7M (revenue +96.2% year-over-year).
- 2015: Revenue of $15.9M, expenses of $14.8M, and assets of $151.7M (revenue +37.1% year-over-year).
- 2014: Revenue of $11.6M, expenses of $2.7M, and assets of $60.4M.
- 2013: Revenue of $0, expenses of $311, and assets of $1 (revenue -100.0% year-over-year).
- 2012: Revenue of $1.4M, expenses of $954K, and assets of $29K (revenue +173.3% year-over-year).
- 2011: Revenue of $530K, expenses of $898K, and assets of $2.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Affordable Rental Housing Holdings Inc:
Data Sources and Methodology
This transparency report for Foundation For Affordable Rental Housing Holdings Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.