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The 4-letter ALMO can stand for many generic acronyms, but the most common is an Arms-Length Management Organization, which is a is a not-for-profit company that provides housing services on behalf of a local authority.
Almo is also a Latin word that means nourishing, kind or propitious, which gave birth to the Italian word Almo, meaning nourishing or life-giving.
From Wikipedia and Wiktionary