Civic Intelligence

Aof Georgia Affordable Housing Corp

EIN 87-3241481 • 501(c)3 • Atlanta, GA

Profile

To develop ,acquire, construct, own, operate or otherwise support affordable housing to be occupied by persons or families of low or moderate income and/or elderly.

1000 Parkwood Circle SE 805Atlanta, GA 30339

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.20x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.09x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

4th percentile

-64%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

87th percentile

$598,720

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

10%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$44,351,219

Down $2,078,682 (-4.5%) from 2023

Liabilities

Up

$53,211,440

Up $996,011 (+1.9%) from 2023

Net Assets

Down

-$8,860,221

Down $3,074,693 (-53%) from 2023

Revenue

Up

$4,798,368

Up $443,927 (+10%) from 2023

Expenses

Up

$7,873,061

Up $6,916 (+0.1%) from 2023

Net Income

Up

-$3,074,693

Up $437,011 (+12%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0-$20MAssets 2022: $49,512,470Liabilities 2022: $51,786,294Net Assets 2022: -$2,273,8242022Assets 2023: $46,429,901Liabilities 2023: $52,215,429Net Assets 2023: -$5,785,5282023Assets 2024: $44,351,219Liabilities 2024: $53,211,440Net Assets 2024: -$8,860,2212024

Highlighted filing

2024

Assets$44,351,219
Liabilities$53,211,440
Net Assets-$8,860,221

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2022: $3,779,578Expenses 2022: $6,053,402Net Income 2022: -$2,273,8242022Revenue 2023: $4,354,441Expenses 2023: $7,866,145Net Income 2023: -$3,511,7042023Revenue 2024: $4,798,368Expenses 2024: $7,873,061Net Income 2024: -$3,074,6932024

Highlighted filing

2024

Revenue$4,798,368
Expenses$7,873,061
Net Income-$3,074,693

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$4,798,368
Mission and Program Overview

Mission

To develop ,acquire, construct, own, operate or otherwise support affordable housing to be occupied by persons or families of low or moderate income and/or elderly.

To develop, acquire, construct, own, operate or otherwise support affordable housing to be occupied by persons or families of low or moderate income and/or elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$42,541,597$41,421,739▼ $1,119,858
Intangible Assets$1,878,743$1,811,844▼ $66,899
Accounts Receivable$37,832$169,298▲ $131,466
Cash and Non-Interest-Bearing Accounts$172,202$164,470▼ $7,732
Prepaid Expenses and Deferred Charges$231,405$21,813▼ $209,592
Total Assets$46,429,901$44,351,219▼ $2,078,682
Other Assets Total$1,568,122$762,055▼ $806,067
Liabilities
Tax Exempt Bond Liabilities$49,401,400$49,401,400→ $0
Accounts Payable and Accrued Expenses$1,178,673$2,086,022▲ $907,349
Other Liabilities$1,124,669$1,365,567▲ $240,898
Deferred Revenue$510,687$358,451▼ $152,236
Total Liabilities$52,215,429$53,211,440▲ $996,011
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,785,528$-8,860,221▼ $3,074,693
Total Net Assets Fund Balance$-5,785,528$-8,860,221▼ $3,074,693
Total Liabilities and Net Assets / Fund Balance$46,429,901$44,351,219▼ $2,078,682

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,570,383$3,129,809$35,700,192
Equipment$4,053,052$1,442,021$5,495,073
Land$4,425,000-$4,425,000
Other Land Buildings$373,304$48,422$421,726
Compensation and Service Providers

Employees

NameTitleOtherTotal
William Fisher IiiTrustee$25,000$25,000

Board Members and Trustees

NameTitle
Philip J KennedyPresident and Treasurer
Alan FergusonTrustee
Sara FayOfficer
Kathryn WalkerVP and Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Georgia Security Officers INCSecurity800 VETERANS MEMORIAL HIGHWAY STE, Mableton, GA 31026$362,972
Hsi Management INCManagement1000 PARKWOOD CIRCLE SE STE 320, Atlanta, GA 30339$212,484
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,797,437
Investment Income
$931
Other Revenue
$0
Change in Net Assets
$-3,074,693
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,254,149
Salaries, Compensation, and Employee Benefits$618,912
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,346,982--$2,346,982
Depreciation Depletion$1,691,619--$1,691,619
Occupancy$694,978--$694,978
Other Salaries and Wages$552,794--$552,794
Insurance$285,040--$285,040
Fees for Services Management-$243,564-$243,564
Office Expenses$82,906--$82,906
Fees for Services Legal-$66,550-$66,550
Other Expenses$61,570--$61,570
All Other Expenses$4,824$50,528-$55,352
Information Technology$53,009--$53,009
Payroll Taxes$41,843--$41,843
Other Employee Benefits$24,275--$24,275
Fees for Services Accounting-$16,000-$16,000
Advertising$15,835--$15,835
Travel-$3,692-$3,692
Total Functional Expenses$7,492,727$380,334$0$7,873,061
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Aof Parent Note Payable$760,000
Aof Parent Note Payable - Accrued Interest$263,096
Capital Improvement Loan$223,447
Tenant Security Deposits$119,024

Bond Issues

BondIssuerIssuedIssue PricePurpose
BDevelopment Authority of Fulton County (georgia)2022-01-31$31,188,400LOW-INCOME HOUSING
ADevelopment Authority of Fulton County (georgia)2022-01-31$18,213,000LOW-INCOME HOUSING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$31,188,400--$569,698
A$18,213,000--$317,275

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A copy of form 990 is provided to the cfo of the parent company and president of the company for review. Once the review is completed the form 990 is then filed with the irs.

Form 990, Part VI, Section B, Line 12C

The cfo of the parent company and the president of the company monitor and enforce the policy.

Form 990, Part VI, Section C, Line 19

Copies are available for public review at the corporate office.

Filing and Contact Details

Filer

Filer Name
Aof Georgia Affordable Housing Corp
EIN
87-3241481
Phone
7147991339
Address
1000 PARKWOOD CIRCLE SE 805, ATLANTA, GA 30339

Signing Officer

Name
Kathryn T Walker
Title
Vice President
Phone
7147991339
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathryn T Walker
Formed
2021
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Carter & Company Cpas LLC
Address
PO BOX 279, DESTIN, FL 32540
Preparer
Samuel T Boerma
Phone
8506500125
Raw XML AppendixShowing 400 of 598 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt02021 WAS A SHORT TAX YEAR AS THE ORGANIZATION WAS FORMED ON JULY 29, 2021 AND SELECTED A 12-31 YEAR END.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, SHORT YEAR EXPLANATION
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0931
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0931
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt04797437
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt04354441
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03779578
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt012931456
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0931
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0931
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt012931456
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt04797437
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt04354441
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03779578
IRS990ScheduleA/Total509Grp/TotalAmt012931456
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt04798368
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt04354441
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03779578
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt012932387
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt032570383
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03129809
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt035700192
IRS990ScheduleD/EquipmentGrp/BookValueAmt04053052
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01442021
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05495073
IRS990ScheduleD/LandGrp/BookValueAmt04425000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04425000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0373304
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt048422
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0421726
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0223447
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1760000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2263096
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3119024
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL IMPROVEMENT LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1AOF PARENT NOTE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2AOF PARENT NOTE PAYABLE - ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt041421739
IRS990ScheduleD/TotalLiabilityAmt01365567
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt050000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt180000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt260000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0450000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1285000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2259167
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt042991
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt142991
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt234205
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt040729
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt120424
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt220112
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt115000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PHILIP J KENNEDY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1KATHRYN WALKER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2SARA FAY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT AND TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VP AND SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0598720
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1443415
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2373484
IRS990ScheduleJ/SeverancePaymentInd01
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd1B
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd11
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd11
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02022-01-31
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12022-01-31

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