Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2002.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
8 people listed on the 990; $516K paid to officers and key staff.
George Baker’s $270K as Vice President and Secretary is at the 95th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2024 | FY2023 |
|---|---|---|
| George Baker | $270,108 | — |
| Matthew Verboon | $131,234 | — |
| Andrea Wolford | $114,909 | $95,091 |
| Chris Etheredge | — | $85,371 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Preserves and owns distressed low-income and historic tax credit housing communities to ensure safe, affordable housing for low-income residents.
Questions for Cahec Properties Corporation
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Assists in low income HOUSING/HISTORIC tax credit properties that are distressed for FINANCIAL/MANAGERIAL reasons in which community affordable housing equity corporation (cahec - parent company) sponsored equity funds made an investment.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.2M | $1.5M |
| InvestmentsLn 11–13 | $714K | $716K |
| Land, buildings, equipmentLn 10c | $9.9M | $9.8M |
| Total assetsLn 16 | $15.1M | $19.3M |
| LiabilitiesLn 26 | $7.4M | $9.5M |
| Net assetsLn 32 | $7.7M | $9.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $503K | $503K | ||
| Pension plan contributionsLn 8 | $34K | $34K | ||
| Other employee benefitsLn 9 | $30K | $30K | ||
| Payroll taxesLn 10 | $29K | $29K | ||
| Management feesLn 11a | $2K | $2K | ||
| Legal feesLn 11b | $10K | $10K | ||
| Accounting feesLn 11c | $65K | $65K | ||
| Other fees for servicesLn 11g | $2K | $2K | $0 | $0 |
| Advertising and promotionLn 12 | $5K | $5K | ||
| Office expensesLn 13 | $4K | $4K | ||
| Information technologyLn 14 | $17K | $17K | ||
| TravelLn 17 | $33K | $33K | ||
| Conferences, conventions and meetingsLn 19 | $72K | $72K | ||
| InterestLn 20 | $336K | $336K | ||
| Depreciation, depletion and amortizationLn 22 | $268K | $268K | ||
| InsuranceLn 23 | $559 | $559 | ||
| Other expenses (24a–d)Ln 24 | $113K | $113K | ||
| All other expensesLn 24e | $2K | $2K | $0 | $0 |
| Total functional expensesLn 25 | $1.5M | $1.5M | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $3.5M | $1.5M | $2.0M | $9.9M | 990 PDF |
| FY2023 | $2.6M | $1.4M | $1.2M | $7.7M | 990 PDF |
| FY2022 | $2.1M | $929K | $1.1M | $6.5M | 990 PDF |
| FY2021 | $634K | $658K | −$24K | $3.6M | 990 PDF |
| FY2020 | $1.3M | $1.3M | $28K | $3.7M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $3,499,876 revenue, 12 lines filed
Part VI · Governance 1 of 5 board members independent, 4 to look at
Part VIII · Statement of revenue $3,499,876 across 6 lines filed
Part IX · Statement of functional expenses $1,525,515 across 18 lines filed
Part X · Balance sheet $19,349,148 assets, 12 lines filed
Part XI · Reconciliation of net assets $9,873,440 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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