Active campaign: $5,500 sewage repair at 1527 Walnut St., Anderson IN Closes in —d —h —m —s $200K founder challenge · Bharath donates a third building by year-end As featured in The Star Press · Gannett · May 7, 2026 501(c)(3) Private Operating Foundation · EIN 99-3628811 · tax-deductible See the campaign → Active campaign: $5,500 sewage repair at 1527 Walnut St., Anderson IN Closes in —d —h —m —s $200K founder challenge · Bharath donates a third building by year-end As featured in The Star Press · Gannett · May 7, 2026 501(c)(3) Private Operating Foundation · EIN 99-3628811 · tax-deductible See the campaign →
AMARNATH FOUNDATION Naturally Occurring Affordable Housing

Preserving the housing working families already call home.

The Amarnath Foundation owns and operates two multifamily properties in central Indiana — keeping families stably housed at rents below the HUD-affordable threshold for their county.

A 501(c)(3) Private Operating Foundation · EIN 99-3628811 · As featured in The Star Press
Donate Now Tax-deductible · Secure checkout
Our Mission
Active campaign · Extended through June 30, 2026
$5,500 sewage line replacement at 1527 Walnut St., Anderson IN
A 70-year-old cast iron stack failed. Full replacement keeps 3 families in their homes at current rents.
Read the campaign →
As featured in The Star Press "California Man's Foundation Aims to Provide Housing for Families Here in Muncie, Anderson" — May 7, 2026
Verified Impact (As of April 2026)
0
Affordable units
actively preserved
0
Multifamily properties
(Anderson & Muncie, IN)
0
Active households
currently housed
0
Founder-funded
(seeking partners)
Our Mission

Stable homes. Below the affordable line. For the people the market is leaving behind.

Across the United States, naturally occurring affordable housing — older multifamily buildings whose rents are simply low because of age, location, and ownership choices — is being acquired by investors who raise rents to market. When that happens, the working families who lived there for years lose their homes.

Multi-year tenancy is the actual measure of preservation. We don't sell to maximize return — we renew in place.

The Amarnath Foundation acquires and holds these buildings as a mission-aligned owner. We keep rents below the HUD-affordable threshold for each property's county. We renew leases. We make repairs. We keep families housed.

It isn't glamorous. It's just what real preservation looks like.

A family who stayed
"Multi-year tenancy in naturally occurring affordable housing isn't an aspiration. It's what happens when nobody flips the building."

Timothy, Kristy, and their son Kyle moved into Apt #1 at 1527 Walnut Street in August 2024. They renewed for another full year in November 2025. Rent: $750/month, in a market where comparable units list at $900–$1,100.

They are not a marketing case study. They are the math of the building. The reason the Lindsey family is still on Walnut Street is that nobody flipped the building. Everything else we do is in service of letting that boring sentence stay true on the next eleven buildings.

How We Work

Three commitments to the families who call our properties home

Every dollar donated extends the runway of a foundation that is currently founder-funded.

Acquire NOAH, hold long-term

We buy small multifamily buildings in distressed Rust-Belt cities where naturally occurring affordable housing still exists, and we don't sell them to maximize return. Our two current properties were acquired in 2024 and 2025.

Rents below the affordable line

HUD's "affordable" threshold for our counties is roughly $1,000/month at 80% AMI. Our rents range $550–$750/month — meaningfully below that bar. Tenants keep more income for food, transportation, and savings.

Renew, repair, retain

Multi-year tenancy is the actual measure of preservation. Our flagship Anderson property has families on multi-year leases that have been renewed in place rather than turned over for higher rents.

The 2026 Challenge · Year-end
$0
a third building, donated by Bharath this year

He's giving the next building. You fund the work.

By the end of 2026, Bharath Ramanidharan will donate a third property — real estate worth $200,000 — to Amarnath Foundation. That's on top of the $348,000 in buildings he already gave in 2024–2025. Bharath donates the assets. The public funds the cash that runs them: repairs, permits, reserves, the next pipe.

$200K Bharath · property
+
$200K Public · cash · the ask
Help meet the $200K challenge 501(c)(3) · EIN 99-3628811 · Tax-deductible · Property gift documented at year-end
Our Founder

Bharath Ramanidharan

Bharath is the founder and Executive Director of the Amarnath Foundation. He spent more than two decades in technology and engineering before turning his attention to the housing-preservation problem visible in distressed Midwest neighborhoods. He personally underwrites the foundation's below-market units — and is now seeking philanthropic partners to scale the work.

Bharath gave the foundation $348,000 in real estate across 2024 and 2025 (1527 Walnut Street in Anderson, and 820/822 W Howard Street in Muncie). By year-end 2026 he'll donate a third property worth approximately $200,000.

Bharath holds engineering degrees from Amrita University (India) and The University of Texas at Dallas, and lives with his family in Santa Clara, California.

Executive Director · Amarnath Foundation
Our Properties

Where the work is happening

3 units

1527 Walnut Street

Anderson, Indiana 46016 · Madison County
Building type
Multifamily, 3 units
Acquired
September 2024
Rent range
$550–$750/mo
Currently housed
3 households
4 units

820/822 W Howard Street

Muncie, Indiana 47305 · Delaware County
Building type
Multifamily, 4 units
Acquired
August 2025
Rent range
$550–$700/mo
Status
Turn in progress
Before you give

The questions careful donors ask

Is my donation tax-deductible?

Yes. Amarnath Foundation is recognized by the IRS as a 501(c)(3) private operating foundation under §4942(j)(3). EIN 99-3628811. Contributions are tax-deductible to the fullest extent allowed by law (60% AGI cash, 30% AGI appreciated securities). Givebutter emails a receipt within minutes.

Where does my money go?

Directly into acquiring, repairing, and holding affordable buildings in central Indiana. There is no salaried staff and the founder works unpaid. Active Walnut campaign funds a $5,500 sewage stack replacement; donations above the goal seed the queued-repair reserve for the next building.

How is the $200K founder challenge structured?

The founder is donating a third building (real estate, ~$200K appraised value) to the foundation by year-end 2026. The public challenge is to raise $200K in cash by the same date to fund building operations. The two run in parallel — property gift is documented at year-end with IRS Form 8283.

Can I give stock, DAF, or recurring monthly?

Yes to all three. Recurring monthly gifts are set up inside the Givebutter form. For DAF grants or appreciated securities, email info@amarnathfoundation.org and we'll handle the brokerage transfer in 24 hours.

Will I hear from you again?

Every donor receives an instant tax letter, a thank-you note from the founder within 48 hours, a quarterly impact email, and (for the Walnut Street campaign) a 60-day completion photo set. We don't sell, share, or rent donor data, ever.