Affordable Homes for All

Nonprofit profile at a glance

EIN
273983571
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123770549
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$877,939
Expenses
$178,919
Assets
$30,615,013
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JOSEPH L HOLMBERG (PRESIDENT)

People named in this filing

  • JOHN MILLER (CHAIR)
  • JOSEPH L HOLMBERG (PRESIDENT)
  • BRUCE WILSON (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The mission of affordable homes for all is to preserve and build affordable homes for all. It has been created to respond to the growing need for quality affordable housing for families, individuals, the eldely and hadicapped.

What it reported doing in 2024

Affordable homes for all has 2 programs: the development of affordable housing units and the operation of affordable housing units. Our missions is to develop, operate, and maintain high quality affordable housing. We operated and maintained the following affordable properties: affordable homes for all acquired winona arms, inc. In 2012. Winona arms owns a 49-unit apartment building in winona, Minnesota. The building operates under hud section 202 and section 8 regulations. Affordable homes for all acquired general partnership interest in emerson housing, l.p. In 2012. Emerson housing owns 44-unit multifamily housing project in gary, Indiana. The housing operates under the low income housing tax credit program. Affordable homes for all controls se hall-whitney young housing corporation (the corporation). The corporation owns 45-unit apartment for the eldely located in saint paul, Minnesota (the project). The project operates under section 202 of the national housing act. The corporation's first mortgage is financed by the united states department of housing and urban development (hud) under section 202 of the national housing act. Affordable homes for all has a general partnership interest in yorktown continental, lp. Yorktown operates a 264 - unit apartment building located in edina, Minnesota (the project). The project operates under hud section 8 regulations. The mortgage on the the project is insured by the united states department of housing and urban development (hud) under section 221(d)4 of the national housing act.affordable homes for all has a general partnership interest in plymouth stevens, lp. This limited partnership purchased the properties owned by plymouth avenue and stevens house on june 30, 2016. The partnership operates a 207-unit apartment building located in minneapolis, Minnesota (the project). The project operates under hud section 8 regulations. The mortgage on the project is insured by the united states department of housing and urban development (hud) under section 221(d)(4) of the national housing act.affordable homes for all has a general partnership interest in cecil newman apartments, lp and effective december 31, 2021, nrrc assigned their general partnership interest and nef assigned their limited partnership interest in cecil newman to affordable homes for all. Cecil newman operates a 64-unit apartment complex in minneapolis, Minnesota. All units are eligible to receive section 8 rental assistance. Financed with a hud insured mortgage.affordable homes for all has a general partnership and limited partnership interest in winnipeg aparments, lp. Winnipeg operates a mixed use apartment building located in st. Paul, Minnesota, containing 56 residential units and 6,000 square feet of commercial space. Financed with a hud insured mortgage.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 96
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.2%; rating input score 8
  • Program expense ratio: 45.1%; rating input score 45
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 79.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 171.11; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -12.6% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -16.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 8.2% of revenue deployed · 45.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $81K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 11 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 8/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.