History
The American Opportunity Foundation, Inc. (AOF) was formed in 1983 in order to sponsor low-income housing, housing for the elderly and handicapped, and all other charitable purposes permitted under Internal Revenue Code Section 501(c)3. AOF received its initial Determination Letter from the Department of the Treasury on January 30, 1985 and received its group determination letter on April 7, 1993. See exemption letters attached. The group letter permits AOF to extend its exempt status to organizations under AOF'S direct supervision and control as outlined in Revenue Procedure 80-27.

Prior to 1995 AOF was primarily engaged in accepting donations of low-income multifamily properties under the Bargain Sale Provisions of IRC Code Section 1011(B).

From March 1996 through December 1998 AOF has acquired twenty- three (23) properties in sixteen (17) subordinate entities totaling 5,220 affordable housing units.

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