Affordable Communities Inc

Nonprofit profile at a glance

EIN
810541460
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2007
Location
Broomfield, CO, USA
Phone
3034035420
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,355,821
Expenses
$1,581,152
Assets
$4,173,934
Liabilities
$3,368,499

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • ED BIGA (PRESIDENT)

Highest reported compensation

  • ED BIGA (PRESIDENT): $85,000 total reported compensation
  • ALAN M FEINSTEIN (VICE PRESIDE): $85,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Affordable communities, inc. Is a non-profit housing corporation created to provide affordable housing to low and moderate income families and individuals in the denver metro area and lamar, Colorado.

What it reported doing in 2024

The organization's exempt purpose achievement is to acquire boulevard garden apartments (a 40-unit project on south federal boulevard in denver, Colorado) under the neighborhood stabilization program 2 (nsp2) and to rent the apartments to low and moderate income families and individuals. Presently twenty (20) of the units are restricted to households with income at or below 50% of the area media income (ami), 16 of the units are restricted at the lesser of the fair market rent for comparable units in the area as established by hud or 30% of the income of households at 80% of ami, and the remaining 4 units are restricted to households with incomes not exceeding 120% of the ami.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.6%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 2.64; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.7% of spending went to programs
  • Governance: 2 of 2 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $85K · 2 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.