FOUNDATION FOR AFFORDABLE RENTAL HOUSING HOLDINGS INC F/K/A FARH-LAMPLIGHTER AFF

EIN: 202563055 501(c)(3) Housing & Shelter

ATLANTA, GA

Total Revenue
$64,110,359
Total Expenses
$92,733,499
Total Assets
$779,582,325
Net Assets
$447,608,714
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
DE
Principal Officer
JAMES O'CONNELL
Phone
7704331711
Tax Period
2024-01-01 to 2024-12-31

FOUNDATION FOR AFFORDABLE RENTAL HOUSING HOLDINGS INC F/K/A FARH-LAMPLIGHTER AFF, founded in 2005, is a mid-sized nonprofit in the Housing & Shelter sector that reported $64.1M in total revenue in fiscal year 2024. Revenue fell 89% from the prior year — a significant decline worth monitoring. Expenses of $92.7M exceeded revenue, resulting in a 45% operating deficit.

Mission

PROVIDE LOW INCOME HOUSING

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $337,500
Program Service Revenue $44,944,180
Investment Income $22,876,084
Other Revenue $-4,047,405
TOTAL REVENUE $64,110,359

Expense Breakdown

Grants Paid $39,150,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $92,733,499
Other Expenses $53,583,499
TOTAL EXPENSES $92,733,499

Year-over-Year Comparison

2024 2023 Change
Revenue $64,110,359 $569,587,470 -0.9%
Expenses $92,733,499 $135,307,439 -0.3%
Net Income $-28,623,140 $434,280,031 -1.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH E THOMAS III DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN ROSENBERG DIRECTOR 1.00
Director
$0 $0 $0
TERENCE SCHWARTZ DIRECTOR 1.00
Director
$0 $0 $0
ELIZABETH SALVATI DIRECTOR 1.00
Director
$0 $0 $0
BRUCE BOLICK DIRECTOR 1.00
Director
$0 $0 $0
CORA REYES EFFECTIVE 5125 DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN ROSENBERG DIRECTOR 1.00
Director
$0 $0 $0
JAMES O'CONNELL PRESIDENT 1.00
Officer
$0 $0 $0
ALLISON BERMAN VICE PRESIDENT & SECRETARY 1.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2024 $64,110,359 $92,733,499 $779,582,325 $-28,623,140
2023 $569,587,470 $135,307,439 $702,135,903 $434,280,031
2022 $113,440,418 $163,878,993 $1,089,223,731 $-50,438,575
2021 $238,155,388 $122,650,359 $1,081,953,835 $115,505,029
2020 $79,328,342 $81,026,785 $881,137,766 $-1,698,443
2019 $44,094,192 $62,349,273 $647,744,190 $-18,255,081
2018 $42,757,841 $48,202,455 $540,495,498 $-5,444,614
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