LEXINGTON KY 40507-1937
Contact Information
LEXINGTON , KY 40507 1937
Phone (859) 252-6642
Fax 859 252-3162
Contact Name Phillip Gray
At A Glance
IRS Ruling Year 1991
Other ways to donate, support, or volunteer
Financial Summary
Revenue vs Expenses - All Years
Expense Breakdown - Recent Year
Mission Statement

Foundation for Affordable Housing, Inc. was formed and is dedicated to providing safe, clean, affordable housing to the homeless and recovering homeless veterans, in an effort to promote individual self-improvement and facilitate opportunities for both independent living and reintegration into community life, with the goals of self-sufficiency and independence, and believes that no one should be cold, hungry, or afraid.. 

Background Statement

Over 22 years ago, The Foundation for Affordable Housing, Inc., using tax credits, HOME funds, a Knight Grant, and a large HUD-Insured Mortgage, planned and constructed St. James Place, a 102-unit Single Room Occupancy (SRO) apartment building, dedicated to housing the homeless of our community. Over the decades we have managed and maintained the facility, such that thousands of would-be street sleepers have had a safe, warm, place to live. They wake up and realize they are in a warm locked room with no threat around them. That is when the miracle happens. We believe that no person, especially in this country, should ever be cold, hungry, or afraid, and St. James Place ensures that for its residents. Well, after two decades of very rough use, by numerous residents, the rooms and halls at St. James place are showing their mileage. One look will tell the tale.

In 2015 we embarked upon a quest to bring St. James back to its original quality with a two-phase renovation of the entire facility, inside and out, worth nearly a million dollars. By partnering with the LFUCG Affordable Housing Trust Fund, local suppliers and contractors, volunteer help, internal resources, and the will to make it happen, we were able to obtain a $403,000 grant, over $100,000 in discounts, volunteer labor, supplies, outside special grants, and professional expertise, resulting in the complete renovation of the first floor at St. James Place. In addition, we were able to repurpose a decaying flower bed into a metal covered patio, with beautiful railings, and because of latent water damage, resurfaced and permanently sealed the front of the building. And, all this was accomplished with no construction loan interest.

We are now prepared to embark on the final journey to accomplish this dream. We have determined that we can finish the remaining rooms and showers, as well as the kitchens and common areas for approximately $500,000. LFUCG has again come through with a matching grant to complete the job. They have promised to match our funds for this phase at 1.5 to 1, their $300,000 and our $200,000. If you consider that our first phase was $403,000, and they are matching ours another $300,000, that’s a 3.5 to 1 match over the entire project. They are dedicated to helping us help ourselves.

This is where you and the community come in. We need your help in raising the $200,000 match, so that we can begin the second phase immediately. How can you do that? Of course, you could write a check, and that would be wonderful. Beyond that, we need you to help us multiply our assets by personally introducing your associates to our mission, and how we do it. Remind them that they too can be part of that “first morning miracle” with us, by helping us renovate the remaining rooms, that have protected so many of our disadvantaged citizens. Be sure to mention the fact that they all pay rent for their apartment. It’s not free. Some of our residents only receive an average of $815 per month, because they are so disabled in body and/or mind. They pay $360 per month for rent, so it doesn’t leave much, but they are warm and not afraid. We have The Lighthouse across the street that provides meals for them nearly every day, so they are not hungry. That is all we want to accomplish. No one should be cold, hungry, or afraid. Done! Please understand that we have not come to you for money for a capital campaign in all 22 years, and that the place runs on its own rent. Other than this capital grant, we have never received nor will we receive any other subsidy from the government.

It costs about $5,000 per room to renovate. We strip the room to the walls, usually have to take up the flooring and subfloor, replace the floor and leveling material, repair all the drywall, door, and ceiling, if needed, paint the entire room, and then reassemble the room with new fixtures, counter, sink, toilet, new fire and smoke detection system, and microwave. Then we bring in a new steel bed, if we haven’t already, a refrigerator, a table and chair, and a new PTAC, if it is too old or in disrepair.

You could “Sponsor a Room” for a $5,000 donation.

Of course, there is a kitchen and seven showers on each floor, not to mention all of the hallway walls and floors, as well as many light fixtures. Speaking of light fixtures, we have been replacing old inefficient fluorescent light fixtures with new highly efficient LED panels, which take a single fixture from using 83 watts to using 23 watts. Thousands of dollars in savings.

We are also planning for the future. We have increased our Repair and Replace funding from $76.20 to $125 per year per unit, which will provide more funds for renovations in the future.

Impact Statement
The Foundation for Affordable Housing, Inc. developed, constructed, and after 22 years still manages St. James Place Apartments, which is a 102-unit Single Room Occupancy (SRO) apartment building, specifically focused on affordably housing the homeless. Thousands of homeless individuals, men and women, have found a welcome refuge in St. James Place Apartments. In 2006 the Foundation designed, constructed, and still manages the St. James Place Veteran Wing, a 40-unit SRO apartment building, specifically focused on housing homeless veterans, who have substance abuse or PTSD issues, employing a Service-Intensive Transitional Housing (SITH) support model, serving over 400 veterans throughout the last decade.  The Foundation is also been a member of the Sixth Congressional Drug Task Force, formed by Representative Andy Barr, and through invitation, presented the St. James model to members and guests of the American Enterprise Institute, in Washington DC, broadcast over CSPAN. Additionally, the Foundation has worked with BGCF donors to purchase a duplex "Graduate House" for graduating veterans to rent.  
Needs Statement
Need 1 - We need to raise $200,000 for a matching grant of $300,000 from the city to complete a two-phase renovation, the first of which has been completed, encompassing the entire first floor of St. James Place, including common areas, kitchen, laundry room, and common community area. The second phase is the second and third floors, encompassing 64 units, common halls, 17 showers, 2 kitchens, 2 laundry rooms, and all light fixtures. We do not have a second need to be listed. 
CEO/Executive Director Statement We have been supporting our 102-unit SRO apartment building for 22 years, and have come to a place where we had to renovate or start losing rooms, and we have already raised $403,000 to complete the first phase of renovation, encompassing the entire first floor and are now embarking on a capital campaign to raise and additional $200,000 to be matched by the city at 1.5 to one, providing the additional $500,000 necessary to complete the second and third floors. We have never mounted such a campaign, since we have been managing our money to the point that no major capital has been needed. And, we have modified our Repair and Replace escrow accounts to have the necessary funds for capital improvements in the future, thereby negating any future capital campaigns. 
Board Chair Statement We manage all assets in as conservative a way possible. We replaced lighting to reduce ongoing costs. We stretched our renovation grant of $403,000, until it was worth another $100,000, calling on contractors, suppliers, and volunteers to help us with in-kind donations of money, supplies, and talent. By incorporating increased escrow payments over the next 15 years, we have provided for future capital improvements using our own assets. Additionally, we have been operating St. James Place Apartments on their rent, and have never received any rent subsidy, and we plan to maintain that method of operating. We believe nobody should be cold, hungry, or afraid, not in this country, and to that end, we strive to serve the community, and specifically serve the homeless population, through a safe structured environment. We are only asking for assistance with this capital need for this one circumstance, and we do not intend to be back for more funds for this development.
Geographic Areas Served
Fayette County
The Foundation for Affordable Housing, Inc. has served the homeless in Fayette County for 22 years, providing permanent low-income housing, based on HOME Funds income limits and rent structures. The majority of our units are SRO within two buildings, although we do have a duplex rented as well.  
Board Chair
Board Chair Mr. Theodore Patrick Tudor
Company Affiliation None
Term Jan 2017 to
Board Members
Mr. William BurkeCommunity Volunteer
Mr. Terry L ClarkCommunity Volunteer
Mr. Jonathan EdwardsCommunity Volunteer
Mr. William R. Embry IIICommunity Volunteer
Ms. Elizabeth L GrayCommunity Volunteer
Mr. Guy H. MonroeCommunity Volunteer
Mr. David W. RichardCommunity Volunteer
Rev. Carolyn RichartCommunity Volunteer
Ms. Elizabeth SamesCommunity Volunteer
Mr. Theodore P. TudorCommunity Volunteer
Ms. Pamela J. WalkerCommunity Volunteer
Mr. Paul WarnerCommunity Volunteer
Board Demographics - Ethnicity. Add number
Asian American/Pacific Islander 0
Caucasian 12
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 8
Female 4
Unspecified 0
Board Term Lengths 4
Board Term Limits 99
Board Meeting Attendance % 83%
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100%
Percentage Making In-Kind Contributions 100%
Constituency Includes Client Representation No
Number of Full Board Meetings Annually 6
Board Co-Chair
Board CoChair Ms. Pamela Johnson Walker
Company Affiliation Community Volunteer
Term Nov 2017 to
CEO Comments The Foundation For Affordable Housing, Inc. is about housing the homeless, because we believe that no one should be cold, hungry, or afraid, in our country. It is a simple mission statement for a very complex and humanitarian effort to provide safe, clean, and affordable housing to this special population.
CEO/Executive Director
Executive Director Mr. Phillip N Gray
Term Start June 2012
Full Time Staff 1
Part Time Staff 0
Volunteers 10
Contractors 0
Retention Rate 100%
Management Reports to Board? Yes
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 1
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 1
Female 0
Unspecified 0
Former CEOs
Mr. William R Embry IIJan 1994 - Jan 2006
Mr. Dean C Hammond Jr.Sept 2007 - June 2012
Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
Senior Management Formal Evaluation N/A
Senior Management Formal Evaluation Frequency N/A
NonManagement Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Description Using the HOME Funds income limits and rent limits, we provide low-cost apartments to Low and Very-Low-income homeless individuals a permanent safe place to leave. We provide them with a monthly community meal, acquire God's Pantry distributions for them, and bring in outside organizations to provide mental, physical, and sometimes financial assistance to them.
Budget 413886
Category Housing, General/Other Affordable Housing
Population Served Homeless, Females, Elderly and/or Disabled
Program Short Term Success We have housed thousands of individuals, men and women, through a structured environment of the lowest rent possible, as many safety measures as possible, like surveillance cameras in all common areas, 24-hour management or security for the premises, key-fob-only entrances, and alarm systems, and visitor control. This is a place they can rest, relax, and recharge. Although for some this worm safe place is the last place they live.
Program Long term Success For 22 years, we have provided a morning miracle for thousands of residents. When they wake on their morning with us, they are greeted by a nice air-conditioned clean room, where nobody is standing over them, and not in their cardboard box, weakened by the rain, and not afraid! That is our little life miracle. That goes on every day at St. James Place. And, since we maintain every system in operational order at all times, they are experiencing rental housing like it is supposed to be, thereby providing a lasting example of how to live at the next place. We have a complete explanations of our structure at St. James Place in our always-maintained Resident Hand Book, which is explained and given to each of our residents when they arrive. We have along-term plan, and it works.
Plans & Policies
Organization has a Fundraising Plan? Under Development
Organization has a Strategic Plan? Under Development
Management Succession Plan? Under Development
Organization Policy and Procedures Under Development
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
Revenue vs Expenses - All Years
Expense Breakdown - Recent Year
Fiscal Year
Fiscal Year Start Jan 01, 2017
Fiscal Year End Dec 31, 2017
Projected Revenue $688,576.00
Projected Expenses $606,965.00
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available). Revenue from foundations and corporations may be included in individual contributions when not itemized separately.
Fiscal Year201620152014
Foundation and
Corporation Contributions
Government Contributions$721,038$567,901$572,095
Individual Contributions$42,855$4,031$87,239
Investment Income, Net of Losses$8,243$8,246$8,243
Membership Dues--$0$0
Special Events--$0$0
Revenue In-Kind--$0$0
Expense Allocation
Fiscal Year201620152014
Program Expense$507,485$588,556$602,428
Administration Expense$77,691$0$0
Fundraising Expense--$0$0
Payments to Affiliates------
Total Revenue/Total Expenses1.431.101.15
Program Expense/Total Expenses87%100%100%
Fundraising Expense/Contributed Revenue------
Assets and Liabilities
Fiscal Year201620152014
Total Assets$1,603,254$1,411,727$1,340,670
Current Assets$390,680$398,964$432,975
Long-Term Liabilities$380,598$387,042$390,300
Current Liabilities$260,799$294,968$262,433
Total Net Assets$961,857$729,717$687,937
Form 990s
2016 Form 990
2015 Form 990
2014 Form 990
2013 Form 990
2012 Form 990
2011 Form 990
2010 Form 990
2009 Form 990
2008 Form 990
Audit Documents
2016 Audit 2016
2015 Audit 2015
2014 Audit 2014
Capital Campaign
Currently in a Capital Campaign? Yes
Goal $200,000.00
Dates Nov 2017 to June 2018
Amount Raised To Date 37150 as of Nov 2017
Capital Campaign Anticipated in Next 5 Years? Yes
LEXINGTON , KY 405071937
Primary Phone 859 252-6642
CEO/Executive Director Mr. Phillip N Gray
Board Chair Mr. Theodore Patrick Tudor
Board Chair Company Affiliation None