Abhaile Project Company Limited by Guarantee (“Ava Housing”) was incorporated in November 2017, in accordance with our company constitution, which fully supports our not-for-profit status:
- Our objectives are primarily concerned with generating social benefits for our participating homeowners, whilst simultaneously delivering affordable, high quality rentals.
- Any financial surpluses generated are applied for the benefit of our participating homeowners or charitable endeavours related to our activities.
In this way, we have no profit motive and are precluded from profiting from any activities.
Ava Housing is governed and regulated by our board. Drawn from diverse backgrounds, our directors bring a range of experience and skills. Our board members are never paid members of staff. The board meets at least four times a year.
The board is responsible for:
- Setting the strategy of Ava Housing, in the interests of our participating homeowners.
- Achieving our targets and objectives.
- Identifying and managing the risks that may prevent us from delivering our strategy.
- Ensuring high standards of integrity, transparency and fairness in the way we operate, by adopting effective systems of governance and internal controls.
- Ensuring that our business is conducted in accordance with the constitution and the relevant legislation and regulations.
As a newly established organisation, our board has started on the journey to compliance with the Governance Code,. This is a voluntary code of practice for good governance of Community, Voluntary and Charitable (CVC) organisations in Ireland. We consider that compliance with the Code is a means to benchmark ourselves against best practice in the management of Ava Housing’s affairs. The board has committed to achieving full compliance within a year of incorporation and with continually reviewing and improving our governance standards in line with best practice, as we work to ensure that we continue to meet our statutory and regulatory obligations.