AFFORDABLE HOUSING PARTNERS INC

EIN: 351993520 501(c)(3) Housing & Shelter

CARMEL, IN

Total Revenue
$39,741,003
Total Expenses
$22,303,501
Total Assets
$337,894,503
Net Assets
$24,874,416
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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
1996
Legal Domicile
IN
Principal Officer
BRUCE CORDINGLEY
Phone
3175870329
Tax Period
2023-01-01 to 2023-12-31

AFFORDABLE HOUSING PARTNERS INC, founded in 1996, is a mid-sized nonprofit in the Housing & Shelter sector that reported $39.7M in total revenue in fiscal year 2023. Revenue surged 255% from the prior year, signaling strong growth momentum. The organization ran a surplus of $17.4M, a strong 44% operating margin.

Mission

PROVIDE AFFORDABLE, SAFE, GOOD QUALITY, WELL-MAINTAINED HOUSING COMMUNITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $250,993
Program Service Revenue $16,857,376
Investment Income $21,777,449
Other Revenue $855,185
TOTAL REVENUE $39,741,003

Expense Breakdown

Grants Paid $326,205
Salaries & Benefits $2,820,903
Fundraising Expenses $0
Program Expenses $19,277,809
Other Expenses $19,156,393
TOTAL EXPENSES $22,303,501

Year-over-Year Comparison

2023 2022 Change
Revenue $39,741,003 $11,200,231 +2.5%
Expenses $22,303,501 $12,603,664 +0.8%
Net Income $17,437,502 $-1,403,433 -13.4%
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
9
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
5
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE A CORDINGLEY PRESIDENT 0.50
Officer Director
$0 $0 $0
TIM MARSHALL BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID MARAMAN BOARD MEMBER 0.50
Director
$0 $0 $0
BRIAN CHAFFIN BOARD MEMBER 0.50
Director
$0 $0 $0
MICHAEL SUTTON BOARD MEMBER 0.50
Director
$0 $0 $0
PHILLIP J STOFFREGEN EXECUTIVE VICE PRESIDENT 0.50
Officer
$0 $0 $0
MAUREEN M HOUGLAND VP AND SECRETARY 0.50
Officer
$0 $0 $0
DOUGLAS BOGGS TREASURER 0.50
Officer
$0 $0 $0
SHURON AGNEW VICE PRESIDENT 0.50
Officer
$0 $0 $0
KATHLEEN LARA EXEC DIRECTOR - INCLUSIVIT 40.00
Highest
$130,615 $1,959 $132,574
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
2023 $39,741,003 $22,303,501 $337,894,503 $17,437,502
2022 $11,200,231 $12,603,664 $238,276,923 $-1,403,433
2021 $9,214,618 $9,997,034 $150,650,716 $-782,416
2020 $5,998,918 $6,468,480 $60,353,720 $-469,562
2019 $4,151,510 $4,308,557 $20,405,949 $-157,047
2018 $3,989,697 $4,338,128 $21,022,126 $-348,431
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