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Nonprofit · EIN 35-1993520

AFFORDABLE HOUSING PARTNERS INC

Tax-exempt · CARMEL, IN 46032

Financials

$39.7M$22.3M2023$36.6M$25.8M2024
Revenue Expenses · by fiscal year end
Financials of AFFORDABLE HOUSING PARTNERS INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$36,559,272$25,803,877$10,755,395$413,514,142$346,858,975$66,655,167
December 31, 2023990$39,741,003$22,303,501$17,437,502$337,894,503$313,020,087$24,874,416
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$3,199,915
of which government grants
$3,150,000
Program service revenue
$18,625,586
Investment income
$13,857,304
Net gain from sales of assets
$13,826,895
Other revenue
$876,467

Expenses

Grants and similar amounts paid
$503,299
Other salaries and wages
$2,719,607
Salaries, compensation and benefits (total)
$3,277,037
Professional fundraising fees
$0
Legal fees
$50,961
Accounting fees
$362,533
Occupancy
$13,088,269
Travel
$22,657
Depreciation
$6,846,741
Program services (functional)
$22,331,643
Management and general (functional)
$3,472,234

Balance sheet and other

Total assets, start of year
$337,894,503
Total assets, end of year
$413,514,142
Total liabilities, end of year
$346,858,975
Net assets, end of year
$66,655,167
Land, buildings and equipment
$301,339,567
Net assets without donor restrictions
$66,655,167
Gross receipts
$43,075,377
Employees
8
Volunteers
0
Year formed
1996
State of legal domicile
IN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
KATHLEEN LARAEXEC DIRECTOR - INCLUSIVITY
Highest-paid employee
40$131,535$1,973
BRUCE A CORDINGLEYPRESIDENT
Trustee or director, Officer
0.5$0$0
TIM MARSHALLBOARD MEMBER
Trustee or director
0.5$0$0
DAVID MARAMANBOARD MEMBER
Trustee or director
0.5$0$0
BRIAN CHAFFINBOARD MEMBER
Trustee or director
0.5$0$0
MICHAEL SUTTONBOARD MEMBER
Trustee or director
0.5$0$0
PHILLIP J STOFFREGENEXECUTIVE VICE PRESIDENT
Officer
0.5$0$0
MAUREEN M HOUGLANDVP AND SECRETARY
Officer
0.5$0$0
DOUGLAS BOGGSTREASURER
Officer
0.5$0$0
SHURON AGNEWVICE PRESIDENT
Officer
0.5$0$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensationOther / benefits
KATHLEEN LARAEXEC DIRECTOR - INCLUSIVIT
Highest-paid employee
40$130,615$1,959
BRUCE A CORDINGLEYPRESIDENT
Trustee or director, Officer
0.5$0$0
TIM MARSHALLBOARD MEMBER
Trustee or director
0.5$0$0
DAVID MARAMANBOARD MEMBER
Trustee or director
0.5$0$0
BRIAN CHAFFINBOARD MEMBER
Trustee or director
0.5$0$0
MICHAEL SUTTONBOARD MEMBER
Trustee or director
0.5$0$0
PHILLIP J STOFFREGENEXECUTIVE VICE PRESIDENT
Officer
0.5$0$0
MAUREEN M HOUGLANDVP AND SECRETARY
Officer
0.5$0$0
DOUGLAS BOGGSTREASURER
Officer
0.5$0$0
SHURON AGNEWVICE PRESIDENT
Officer
0.5$0$0

Address and contacts

Address (IRS master file)
770 3RD AVE SW, CARMEL, IN 46032-2036
In care of
% PHILLIP J STOFFREGEN
Principal officer (990 for 2024)
BRUCE CORDINGLEY, 770 3RD AVENUE SOUTHWEST, CARMEL, IN 46032
Signed the 990
PHILLIP J STOFFREGEN, EXECUTIVE VICE PRESIDENT
Phone
(317) 587-0329
Return prepared by
DAUBY O'CONNOR & ZALESKI LLC

Mission

THE CORPORATION'S CHARITABLE PURPOSES INCLUDE DEVELOPING OR FACILITATING THE DEVELOPMENT OF AFFORDABLE, SAFE, GOOD QUALITY, WELL-MAINTAINED HOUSING COMMUNITIES. SEE THE PROGRAM SERVICE ACCOMPLISHMENTS FOR A DETAILED LIST OF COMMUNITIES OWNED.

990 for the year ended December 31, 2024

Program accomplishments

  • THE CORPORATION DEVELOPED, OWNS AND OPERATES FOURTEEN AFFORDABLE HOUSING COMMUNITIES. CRYSTAL GLEN APARTMENTS, PHASE II IS A 64 UNIT APARTMENT COMMUNITY LOCATED IN FINDLAY, OHIO. CRYSTAL GLEN APARTMENTS, PHASE II WAS SOLD IN 2024. AUTUMN WOODS APARTMENTS AND AUTUMN WOODS II APARTMENTS ARE BOTH 96 UNIT APARTMENT COMMUNITIES LOCATED CONTIGUOUS TO EACH OTHER IN CRAWFORDSVILLE, INDIANA. AUTUMN WOODS APARTMENTS AND AUTUMN WOODS II APARTMENTS WERE SOLD IN 2024. MILL RUN IS A 200 UNIT APARTMENT COMMUNITY LOCATED IN COLUMBIA, SOUTH CAROLINA. LANDINGS OF GASTONIA APARTMENT HOMES IS A 156 UNIT APARTMENT COMMUNITY IN GASTONIA, NORTH CAROLINA. THE BLUFFS APARTMENT HOMES IS A 144 UNIT APARTMENT COMMUNITY LOCATED IN SPARTANBURG, SOUTH CAROLINA. WOODWINDS APARTMENT HOMES IS A 144 UNIT APARTMENT COMMUNITY LOCATRED IN GREENVILLE, SOUTH CAROLINA. BROAD RIVER VILLAGE APARTMENTS IS A 160 UNIT APARTMENT COMMUNITY AND BROAD RIVER VILLAGE II APARTMENTS IS A 120 UNIT APARTMENT COMMUNITY. THEY ARE LOCATED CONTIGUOUS TO EACH OTHER IN BEAUFORT, SOUTH CAROLINA. BROAD RIVER VILLAGE L.P. OWNS BROAD RIVER VILLAGE APARTMENTS. THE CORPORATION IS THE 100% OWNER OF AHP-BROAD RIVER, LLC. AHP-BROAD RIVER, LLC IS THE GENERAL PARTNER OF BROAD RIVER VILLAGE L.P. AND HAS TOTAL OWNERSHIP IN THIS ENTITY OF .0083%. BROAD RIVER VILLAGE II IS OWNED BY PORT ROYAL, I LLC WHOSE SOLE MEMBER IS THE CORPORATION. THE CORPORATION HAS 4.99% OWNERSHIP IN SPARTANBURG-CROWN POINTE, LLC AND ROCK HILL SI, LLC. THESE ENTITIES OWN CROWN POINTE APARTMENT HOMES (A 241 UNIT APARTMENT COMMUNITY IN SPARTANBURG, SOUTH CAROLINA) AND STONE HAVEN POINTE APARTMENTS (A 264 UNIT APARTMENT COMMUNITY IN ROCK HILL, SOUTH CAROLINA) RESPECTIVELY. THE CORPORATION IS THE 100% OWNER OF AHP-HIGHLAND OAKS, LLC AND AHP-CARRIAGE HOUSE, LLC WHO EACH HAVE A TOTAL OWNERSHIP OF 0.1% IN WS-HIGHLAND OAKS, LLC AND SD-CARRIAGE HOUSE, LLC, RESPECTIVELY. THESE ENTITIES OWN HIGHLAND OAKS APARTMENTS (A 200 UNIT APARTMENT COMMUNITY IN WINSTON-SALEM, NORTH CAROLINA) AND CARRIAGE HOUSE APARTMENTS (A 156 UNIT APARTMENT COMMUNITY IN GASTON COUNTY, NORTH CAROLINA), RESPECTIVELY. HAWTHORN SPRINGS APARTMENT HOMES IS A 240 UNIT APARTMENT COMMUNITY LOCATED IN COLUMBIA, SOUTH CAROLINA. SILVER STATION APARTMENTS IS A 240 UNIT APARTMENT COMMUNITY LOCATED IN COLUMBIA, SOUTH CAROLINA. THE CORPORATION ALSO FORMED THE INCLUSIVITIY INSTITUTE TO FURTHER ITS CHARITABLE PURPOSES.
    Expenses $22,331,643 · grants $503,299 · revenue $32,417,481
  • LEVEL UP LENDING, LLC WAS FORMED WITH AN AIM OF PROVIDING BENEFICIAL LOAN PRODUCTS TO EMPOWER LOW-TO-MODERATE INCOME INDIVIDUALS AND HELP TO RETAIN AND BUILD WEALTH IN UNDERSERVED COMMUNITIES FOR UNDESERVED INDIVIDUALS.
    revenue $35,000

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
35-1993520
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1997
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$413,514,142
Income (IRS master file)
$43,075,377

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$36,559,272$25,803,877$413,514,142IRS
990December 2023$39,741,003$22,303,501$337,894,503XML
990December 2022$11,200,231$12,603,664$238,276,923IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 35-1993520).

Questions about AFFORDABLE HOUSING PARTNERS INC

What is the EIN of AFFORDABLE HOUSING PARTNERS INC?
The employer identification number (EIN) of AFFORDABLE HOUSING PARTNERS INC is 35-1993520.
Is AFFORDABLE HOUSING PARTNERS INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
Are donations to AFFORDABLE HOUSING PARTNERS INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does AFFORDABLE HOUSING PARTNERS INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of AFFORDABLE HOUSING PARTNERS INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did AFFORDABLE HOUSING PARTNERS INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of AFFORDABLE HOUSING PARTNERS INC?
The 990 for the year ended December 31, 2024 names BRUCE CORDINGLEY.
Who are the officers and directors of AFFORDABLE HOUSING PARTNERS INC?
The 990 for the year ended December 31, 2024 lists 10 people; 1 received compensation from the organization, the highest $131,535 (KATHLEEN LARA, EXEC DIRECTOR - INCLUSIVITY).
How much revenue does AFFORDABLE HOUSING PARTNERS INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $36,559,272, expenses of $25,803,877 and total assets of $413,514,142 at year end.

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