Overview
What is Aafe Community Development Fund Inc?
Aafe Community Development Fund Inc, based in New York City, is a nonprofit organization dedicated to improving homeownership opportunities for low- and moderate-income residents, particularly the Asian-American community and other minorities and immigrants. Their initiatives include providing first-time homebuyer training, mortgage referral and origination services, homeownership retention support, landlord counseling, and assistance with mortgage delinquency and default resolution. The organization also offers affordable second mortgage loans to further enhance homeownership possibilities. With a mission to empower these communities, Aafe Community Development Fund Inc plays a crucial role in promoting equitable housing access in New York City.
Official website here: www.aafecdf.org
Is Aafe Community Development Fund Inc legitimate?
Aafe Community Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Aafe Community Development Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $102,376
Professional Fundraising Fees: $0
Other Salaries and Wages: $124,228
For more financial information, click here
Official website here: www.aafecdf.org
What is the mission statement of Aafe Community Development Fund Inc?
Aafe Community Development Fund Inc, through its mission, aims to improve homeownership opportunities for low and moderate-income residents, particularly those of Asian-American, minority, and immigrant backgrounds in New York City. The organization provides targeted technical assistance and offers affordable second mortgage loans. One of their key programs, the Home Ownership Program, offers services such as first-time homebuyer training, mortgage referral and origination, homeownership retention, landlord counseling, and mortgage delinquency and default resolution to enhance homeownership for this demographic.
Official website here: www.aafecdf.org
Who is the CEO of Aafe Community Development Fund Inc?
Thomas Yu is the Director of Aafe Community Development Fund Inc.
Official website here: www.aafecdf.org
What is the revenue of Aafe Community Development Fund Inc?
Aafe Community Development Fund Inc's revenue in 2022 was $687,283.
Official website here: www.aafecdf.org
Who are the executives of Aafe Community Development Fund Inc and what are their salaries?
The average compensation at Aafe Community Development Fund Inc during 2022 was $75,535. There are 3 employees and 5 volunteers at Aafe Community Development Fund Inc.
Here are 8 key members and their salaries:
- Thomas Yu (Co-Executive Director)
- Jennifer Sun (Co-Executive Director(Outgoing))
- Jessie Lee (Managing Director)
- Joy Suzanne Granado (Chief Accounting Officer)
- Eddie Wong (Deputy Managing Director)
- Donna Chiu (Director)
- Heidie Joo Burwell (Board Chair) [Trustee/Director]
- Lydia Tom (Director)
Official website here: www.aafecdf.org
Where can I find the form 990 for Aafe Community Development Fund Inc?
The Aafe Community Development Fund Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.aafecdf.org
Learn more at the official website: www.aafecdf.org
Mission Statement of Aafe Community Development Fund Inc
Aafe Community Development Fund Inc, a nonprofit organization, is committed to enhancing homeownership opportunities for low and moderate income residents of New York City, with a particular focus on Asian-Americans, minorities, and immigrants. To achieve this mission, the organization provides targeted technical assistance and affordable second mortgage loans. This approach enables eligible individuals to secure homes and build stable living environments, thereby contributing to the diversity and vitality of the community.
In practice, Aafe Community Development Fund Inc implements a Home Ownership Program that offers a range of services aimed at facilitating homeownership for its target demographic. These services include first-time homebuyer training, mortgage referral and origination, homeownership retention, landlord counseling, and mortgage delinquency and default resolution. By providing these resources, the organization empowers individuals to navigate the complex process of homeownership and overcome potential obstacles, ultimately fostering a sense of security and stability in their lives.
Impact
This information is meant to be a general summary of Aafe Community Development Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Wednesday, July 24, 2024
The impact of Aafe Community Development Fund Inc can be seen in the increased home-ownership opportunities for low and moderate-income residents of New York City, particularly Asian-Americans, minorities, and immigrants. By providing targeted technical assistance and affordable second mortgage loans, Aafe Community Development Fund Inc plays a crucial role in helping these underserved communities achieve the dream of owning a home. Their services, such as first-time homebuyer training, mortgage referral and origination, and homeownership retention, contribute to stabilizing neighborhoods and empowering individuals to build wealth through homeownership. Through their dedicated efforts, Aafe Community Development Fund Inc actively works towards addressing housing disparities and promoting financial inclusion in the diverse city of New York.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$76,517
LOAN FEES
Revenue
$40,724
BAD DEBTS
Revenue
$4,181
OTHER PROGRAM INCOME
Revenue
$3,950
Organization Details
Founding Year
2000
Phone
(212) 964-2288
Principal Officer
Thomas Yu
Main Address
2 ALLEN STREET 7TH FLOOR, NEW YORK, NY, 10002
Website
www.aafecdf.org
NTEE Category
Code: L80 - Housing
If you are a representative of Aafe Community Development Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.