AFFORDABLE HOUSING RESOURCES INC

EIN: 581857324 501(c)(3) Housing & Shelter

NASHVILLE, TN

Total Revenue
$7,609,212
Total Expenses
$5,655,691
Total Assets
$29,939,155
Net Assets
$13,369,384
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
TN
Principal Officer
EDDIE LATIMER
Phone
6152510025
Tax Period
2024-01-01 to 2024-12-31

AFFORDABLE HOUSING RESOURCES INC, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $7.6M in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.0M, a strong 26% operating margin.

Mission

AFFORDABLE HOUSING RESOURCES, INC. (AHR) IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO CREATE AFFORDABLE HOUSING AND STRONG NEIGHBORHOODS. FOR OVER 20 YEARS, AHR HAS BEEN LAYING A FOUNDATION FOR SUCCESSFUL HOME OWNERSHIP FOR MIDDLE TENNESSEE'S WORKFORCE. AHR IS COMMITTED TO PROVIDING HOME OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME FAMILIES, WHICH ENABLES THESE FAMILIES TO BECOME SUCCESSFUL HOMEOWNERS OVER THE LONG TERM.

Program Service Accomplishments

Program 1
Expenses: $4,470,739

DISASTER RELIEF PROGRAM: AHR ACQUIRES FUNDING TO ASSIST IN THE PREVENTION OF FORCLOSURE AND RENTAL EVICTIONS OF LOW INCOME FAMILIES.

Program 2
Expenses: $434,345 Revenue: $1,252,034

SINGLE FAMILY DEVELOPMENT - AHR PROVIDES HOUSING TO LOW INCOME FAMILIES THROUGH CONSTRUCTION, SALES, REHAB, AND RENTAL OF HOMES.

Program 3
Expenses: $360,753 Revenue: $403,893

LENDING - INTEREST ON LOANS SERVICED BY PINNACLE BANK ON BEHALF OF AHR.

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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 $5,506,736
Program Service Revenue $952,771
Investment Income $1,149,705
Other Revenue $0
TOTAL REVENUE $7,609,212

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,033,038
Fundraising Expenses $0
Program Expenses $5,422,609
Other Expenses $4,622,653
TOTAL EXPENSES $5,655,691

Year-over-Year Comparison

2024 2023 Change
Revenue $7,609,212 $5,229,157 +0.5%
Expenses $5,655,691 $2,518,879 +1.2%
Net Income $1,953,521 $2,710,278 -0.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
13
Employees
15
Volunteers
13

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
4
$232,475
Total Directors
14
$232,475
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDDIE LATIMER CEO 40.00
Officer Director
$224,917 $7,558 $232,475
DAN EATON DIRECTOR OF HOUSING DEVELOPMENT 40.00
Highest
$119,663 $4,062 $123,725
DAVID CRANE DIRECTOR 1.00
Director
$0 $0 $0
JAQUELINE PAUL SIMS DIRECTOR 1.00
Director
$0 $0 $0
ALETA YOUNG DIRECTOR 1.00
Director
$0 $0 $0
PAUL HOFFMAN DIRECTOR 1.00
Director
$0 $0 $0
JOHN A BEAM III SECRETARY & CHAIR GOVERNANCE 2.00
Officer Director
$0 $0 $0
W PERRY BLANDFORD BOARD CHAIR 2.00
Officer Director
$0 $0 $0
DEWAYNE OLIVE TREASURER & FINANCE CHAIR 1.00
Officer Director
$0 $0 $0
JIM RIENIETS DIRECTOR 1.00
Director
$0 $0 $0
PAIGE O'DELL DIRECTOR 1.00
Director
$0 $0 $0
R DALE MITCHELL DIRECTOR 1.00
Director
$0 $0 $0
ROSEMARY NABAWEESI DIRECTOR 1.00
Director
$0 $0 $0
JAMAL CAMBELL-GOOCH DIRECTOR 1.00
Director
$0 $0 $0
MARK G CALVERT DIRECTOR 1.00
Director
$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 $7,609,212 $5,655,691 $29,939,155 $1,953,521
2023 $5,229,157 $2,518,879 $27,266,246 $2,710,278
2022 $4,202,801 $1,617,401 $25,997,448 $2,585,400
2021 $4,651,138 $2,052,790 $24,037,814 $2,598,348
2020 $3,810,561 $1,958,699 $20,979,124 $1,851,862
2019 $2,444,699 $1,219,793 $18,848,203 $1,224,906
2018 $1,309,873 $1,101,506 $16,582,033 $208,367
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