Foresight Affordable Housing of Pennsylvania Inc

Foresight Affordable Housing of Pennsylvania Inc is a nonprofit organization dedicated to providing affordable housing solutions. The organization operates under the Low-Income Housing Preservation and Resident Homeownership Act of 1990 and manages an apartment complex of 111 units located in Bethlehem, Pennsylvania[2].

Nonprofit Status and Activities

Foresight Affordable Housing is classified as a public charity under the IRS's 501(c) category, allowing it to receive tax-deductible donations. The organization focuses on developing and maintaining affordable housing through various programs, including those involving the U.S. Department of Housing and Urban Development (HUD) and other federal initiatives[1][4].

Financial Overview

In recent years, the organization's financial profile has seen significant fluctuations. As of 2023, Foresight reported a revenue of $1.42 million against expenses of $3.53 million, with total assets valued at $2.81 million and liabilities at $2.51 million[1]. Historically, the majority of its revenue has come from program services rather than contributions or investments[1].

Leadership and Governance

The leadership includes experienced professionals from various fields related to affordable housing, finance, and education. Dr. Bruce W. Johnson serves as the President after previously holding roles as Vice President and Secretary. Other key figures include individuals with backgrounds in real estate management and auditing, reflecting the organization's diverse expertise in affordable housing[3].

Mission and Impact

Foresight Affordable Housing aims to enhance living environments for economically, educationally, and vocationally challenged individuals by offering superior housing standards. Through these efforts, the organization seeks to create better opportunities for its residents and support their overall well-being[4].