Affordable Housing Management Inc

What it reported doing in 2024

The organization provided technical, managerial, and educational assistance to low and moderate income housing developments in the greater greensboro, North Carolina area.the organization provided these services to 587 housing units during the year ended june 30, 2025, through properties that were owned and/or managed.through its resident education and enrichment fund (reef), to date the organization has provided 109 scholarships totaling $66,859 of which 57 are multiple awards to the same residents, to ahm residents to assist them with furthering their education and career advancement. Through its youth education summer scholarship program (yess), 119 scholarships totaling $19,928 have been awarded to children living at ahm managed apartments, to attend summer camps.the organization received a North Carolina housing finance agency 2013 housing North Carolina award for excellence in affordable housing in the permanent supportive housing category. The award acknowledged the major rehabilitation of 20 units known as village crossing. Of those units, 9 are reserved/targeted for formerly homeless and/or disabled households.the organization received another North Carolina housing finance agency 2017 housing North Carolina award for excellence in affordable housing in the permanent supportive housing category. The award acknowledged the new construction of 20 units known as hope court. Of those units, 6 are reserved/targeted for formerly homeless and/or disabled households.the organization completed a 72-apartment new construction development named muirs landing in 2020. This is a mixed income development with three levels of rents affordable to households earning 30, 50, and 60% of the area medium income.the organization completed an 84-apartment nine percent tax credit new construction development named redhill pointe in 2023. This is another mixed income development with three levels of rents affordable to households earning 30, 50, and 60% of the area median income.on october 4, 2022, the development known as southwoods was awarded acquisition-rehab nine percent low income housing tax credits of and a rental production loan by the North Carolina housing finance agency. Additionally, in may 2022, ahm was awarded a city of greensboro american rescue plan (arp) grant for the southwoods development. In august 2023 the acquisition rehab loans and tax credit syndication closed and construction started. This is a major rehabilitation of an existing ahm tax credit property originally built in 1996. The rents will be affordable to households earning 50% or below the median area income. Southwoods has 59 studio apartments that have been and will continue to provide housing to single people, many who are disabled or had been previously homeless. Construction was completed in november 2024.on august 15, 2023, the development known as windhill development was awarded aquisition-rehab nine percent low income housing tax credits and a rental production program loan by the North Carolina housing finance agency. Additionally, ahm has received a loan commitment from self-help ventures, which is administering the new community of greater greensboro housing fund. This will be a major rehabilitation of an existing ahm tax credit property originally built in 2001. The rents will be affordable to households earning 50% or below the median area income.since 2011, all ahm new construction developments have received national association of home builders green building standard and energy star certifications. The organization received the national association of home builders research center 2011 green partner of the year award and was selected a 2020 national green building standard green partner of excellence.other activity included the investigation and analysis of purchasing existing apartment complexes and land suitable for affordable housing.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 81.5%; rating input score 82
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• 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: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -24.9%; rating input score 7; 7th percentile among comparable filings
• Total-asset coverage ratio: 6.95; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.47; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 17.7%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 4.2% per year; rating input score 100; 38th percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
• Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings