Affordable Housing Investors Council

Nonprofit profile at a glance

EIN
742761790
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Leesburg, VA, USA
Phone
5712930998
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$836,464
Expenses
$623,925
Assets
$1,001,777
Liabilities
$212,135

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • VIHAR SHETH (PRESIDENT)

People named in this filing

  • VIHAR SHETH (PRESIDENT)
  • LEIGH ANN MERCHANT (VICE PRESIDE)
  • KERSTIN PALMER (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Affordable housing investors council seeks to preserve and strengthen the low-income housing tax credit as an effective tool for the development of affordable housing. To accomplish this, we provide educational opportunities and a forum for sharing information to our investor members, and create industry best practices.

What it reported doing in 2025

Service to members

Operating model

Revenue model
Earned-program. 99% 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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.4%; rating input score 62
  • Program expense ratio: 84.7%; rating input score 85
  • 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; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Fail

Sustainability

  • Operating margin: 25.4%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 1.61; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 62.4% of revenue deployed · 84.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $529K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.