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Ahepa-Penelope 38 Apartments Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 421417593 ✦ Ankeny, IA ✦ Designated as a 501(c)(3)

Overview

What is Ahepa-Penelope 38 Apartments Inc?

Ahepa-Penelope 38 Apartments Inc is a not-for-profit organization, established in accordance with Iowa's non-profit laws. Its primary purpose is to construct, manage, and operate an affordable housing apartment community in Ankeny, Iowa, named Ahepa-Penelope 38 Apartments. This initiative aligns with Section 202 of the National Affordable Housing Act, aiming to provide affordable housing options for the community. The sponsor of this project is Ahepa National Housing Corporation.


Is Ahepa-Penelope 38 Apartments Inc legitimate?

Ahepa-Penelope 38 Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa-Penelope 38 Apartments 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


What is the mission statement of Ahepa-Penelope 38 Apartments Inc?
Who is the CEO of Ahepa-Penelope 38 Apartments Inc?
What is the revenue of Ahepa-Penelope 38 Apartments Inc?
Who are the executives of Ahepa-Penelope 38 Apartments Inc and what are their salaries?
Where can I find the form 990 for Ahepa-Penelope 38 Apartments Inc?

Mission Statement of Ahepa-Penelope 38 Apartments Inc

Ahepa-Penelope 38 Apartments Inc was established with a mission to construct, own, and operate an affordable housing apartment community. This not-for-profit corporation, in accordance with the statutes of Iowa, aims to provide affordable living spaces for its residents. The organization's primary objective is to develop and manage a 53-unit apartment complex, known as Ahepa-Penelope 38 Apartments, under the National Affordable Housing Act. The sponsor of this initiative is Ahepa National Housing Corporation, demonstrating a commitment to affordable housing and community development.

Impact

This information is meant to be a general summary of Ahepa-Penelope 38 Apartments Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




Wednesday, July 24, 2024

Ahepa-Penelope 38 Apartments Inc's impact can be seen in providing affordable housing options for individuals in Ankeny, Iowa. By owning and operating a 53-unit apartment community, they are addressing the crucial need for affordable housing in the area. This initiative contributes to the overall well-being of the community by offering a stable and affordable living environment for those in need. Their focus on affordable housing aligns with their mission to serve the community and make a positive impact on the lives of residents.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $32
  • Program Service Revenue: $450,412
  • Gross Receipts: $486,092

    • Assets and Liabilities:
  • Total Assets: $1,571,158
  • Total Liabilities: $40,016
  • Net Assets: $1,531,142
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    RENTAL INCOME

    Revenue

    $243,938

    TENANT ASSISTANCE HUD

    Revenue

    $206,474

    Organization Details

    Founding Year

    1995

    Principal Officer

    Christy Karthan

    Main Address

    717 NE 5TH STREET, ANKENY, IA, 50021

    NTEE Category

    Code: L99Z - Housing

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