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Foundation for Affordable Rental Housing Holdings Inc

EIN 20-2563055 · Atlanta, GA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak29 out of 100GovernanceFair68 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO PROVIDE LOW INCOME HOUSING.

Income
$64.1 million
Spending
$92.7 million
Spent on programs
100%
Reserves
0.8 months of spending
Largest source of income
fees for its services, 70%
Employees
0
Volunteers
0

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 29 out of 100. Higher than 5% of charities in its peer group (housing, $10m to $100m).

  • Reserves

    4 of 35

    Spendable reserves would cover 0.8 months of spending.

  • Debt

    10 of 20

    It owes 43% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 45% of income.

  • Income trend

    0 of 15

    Income fell 89% on the year before.

  • Spending floor

    15 of 15

    100% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 68 out of 100. Higher than 6% of charities in its peer group (housing, $10m to $100m).

  • Independent board

    25 of 25

    5 of 5 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (32)
  1. $2.4 million spent. BEECHWOOD AT THE PRESERVE APARTMENTS, LOCATED AT 3080 WEST 8TH STREET, WAUKEGAN, IL 60085, HAS 166 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  2. $2.4 million spent. THE LANDMARK OF WEST ALLIS, LOCATED AT 1441 SOUTH 68TH STREET, WEST ALLIS, WI 53214, HAS 127 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  3. $2.2 million spent. CAMPANION AT BRIDLE RIDGE APARTMENTS, LOCATED AT 310 CHANDLER ROAD, GREER, SC 29651, HAS 152 MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  4. $63.0 million spent. TO PROVIDE LOW-INCOME HOUSING.
  5. $889,329 spent. ASBURY PLACE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  6. $895,525 spent. BEACON BAY OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  7. $314,466 spent. BLUESTONE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  8. $887,653 spent. BLUFFVIEW VILLAS OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  9. $1.1 million spent. BRENHAM OAKS OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  10. $259,565 spent. CANAL PLACE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  11. $162,588 spent. CEDAR DRIVE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  12. $335,834 spent. CENTRAL PLACE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  13. $799,379 spent. CREEK CROSSING OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  14. $2.4 million spent. CREEKSTONE RANCH OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  15. $356,257 spent. EL DORADO OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  16. $1.2 million spent. GATEWAY OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  17. $1.3 million spent. GLENWOOD OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  18. $379,033 spent. HIGHLAND GARDENS OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  19. $983,100 spent. HIGHLAND OAKS HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  20. $68,835 spent. HUBBARD OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  21. $1.3 million spent. LAKE JACKSON OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  22. $670,899 spent. MARIPOSA GARDENS OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  23. $366,147 spent. MISSION OAKS OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  24. $161,208 spent. OAK TREE OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  25. $1.9 million spent. PLUM CREEK OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  26. $1.7 million spent. SADDLE CREEK OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  27. $472,565 spent. SANDIA CROSSING OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  28. $775,011 spent. TIERRA BLANCA OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  29. $1.1 million spent. WESTVIEW RANCH OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  30. $498,986 spent. WINDING WAY OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  31. $212,548 spent. WINDSTAR OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.
  32. $1.2 million spent. WOODVIEW OTM HARMONY LP HAS MULTIFAMILY UNITS THAT ARE LEASED TO PROVIDE LOW INCOME HOUSING TO THOSE INDIVIDUALS NEEDING PUBLIC HOUSING ASSISTANCE.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 2005.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.