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Nonprofiteer
← AMERICAN OPPORTUNITY FOUNDATION

Form 990 for tax year 2023

Filed by AMERICAN OPPORTUNITY FOUNDATION.

Totals

Total revenue
$413,609
Total expenses
$388,080
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$413,381
Investment income
$228
Other revenue
$0
Total assets, end of year
$2,449,178
Total liabilities, end of year
$2,896,757
Net assets or fund balances, end of year
-$447,579
Program services expenses (Part IX)
$368,315
Management and general expenses
$19,765
Fundraising expenses
$0
Program service expenses (Part III)
$368,315

Program services were 94.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ASSET ADMINISTRATION

    total $247,054 · related or exempt $247,054

  • 2b · Program service revenue: RENTS - LA VALENCIA

    total $145,405 · related or exempt $145,405

  • 2c · Program service revenue: LAUREL WOODS AHLP K-1

    total $20,922 · related or exempt $20,922

  • 3 · Investment income

    total $228 · excluded $228

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $140,000 · program services $126,000 · management and general $14,000

  • 8 · Pension plan contributions

    total $12,000 · program services $10,800 · management and general $1,200

  • 9 · Other employee benefits

    total $8,736 · program services $7,862 · management and general $874

  • 10 · Payroll taxes

    total $10,443 · program services $9,399 · management and general $1,044

  • 11a · Fees: management

    total $49,592 · program services $49,592

  • 13 · Office expenses

    total $4,122 · program services $3,710 · management and general $412

  • 14 · Information technology

    total $2,480 · program services $2,232 · management and general $248

  • 16 · Occupancy

    total $4,140 · program services $3,726 · management and general $414

  • 17 · Travel

    total $141 · program services $141

  • 19 · Conferences, conventions and meetings

    total $1,059 · program services $1,059

  • 20 · Interest

    total $9,623 · program services $9,623

  • 22 · Depreciation, depletion and amortization

    total $63,575 · program services $63,575

  • 23 · Insurance

    total $656 · program services $590 · management and general $66

  • 24a · Other expenses: FACILITIES EXPENSE

    total $66,722 · program services $66,722

  • 24b · Other expenses: PROFESSIONAL EXPENSES

    total $13,982 · program services $12,584 · management and general $1,398

  • 24c · Other expenses: TAXES, LICENSES, & FEES

    total $490 · program services $490

  • 24d · Other expenses: AUTOMOBILE EXPENSES

    total $210 · program services $210

  • 24e · All other expenses

    total $109 · management and general $109

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $271,252 · end of year $481,594

  • 4 · Accounts receivable

    beginning of year $23,869 · end of year $26,640

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,848 · end of year $4,176

  • 10a · Land, buildings and equipment: cost or other basis

    $2,884,993

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,111,193

  • 10c · Land, buildings and equipment, net

    beginning of year $1,836,761 · end of year $1,773,800

  • 12 · Investments: other securities

    beginning of year $139,179 · end of year $160,100

  • 14 · Intangible assets

    beginning of year $3,482 · end of year $2,868

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,700 · end of year $34,902

  • 19 · Deferred revenue

    beginning of year $608 · end of year $2,143

  • 23 · Secured mortgages and notes payable

    beginning of year $2,681,801 · end of year $2,646,677

  • 25 · Other liabilities

    beginning of year $11,390 · end of year $213,035

  • 27 · Net assets without donor restrictions

    beginning of year -$473,108 · end of year -$447,579

Listed in Part VII

  • DANIEL DO-KHANH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • SAN PHAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • CYNTHIA GRADY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • KATHRYN T WALKER

    SVP-FINANCE, TRUSTEE

    Total calculated
    $459,815
    From this org
    $0
    From related orgs
    $400,000
    Other
    $59,815
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $260,000 related
    Bonus
    $0 + $125,000 related
    Other
    $0 + $15,000 related
    Deferred
    $0 + $37,397 related
    Nontaxable benefits
    $0 + $22,418 related
    Filer's total
    $0 + $459,815 related

  • SHARON TRAN

    SECRETARY, TRUSTEE

    Total calculated
    $240,258
    From this org
    $0
    From related orgs
    $200,666
    Other
    $39,592
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,666 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0 + $20,476 related
    Nontaxable benefits
    $0 + $19,116 related
    Filer's total
    $0 + $240,258 related

  • BRETT MASCARO

    PRESIDENT, TRUSTEE

    Total calculated
    $396,072
    From this org
    $0
    From related orgs
    $349,375
    Other
    $46,697
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,375 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $37,397 related
    Nontaxable benefits
    $0 + $9,300 related
    Filer's total
    $0 + $396,072 related

  • AJAY NAYER

    VICE PRESIDENT

    Total calculated
    $155,723
    From this org
    $134,792
    From related orgs
    $0
    Other
    $20,931
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,792
    Bonus
    $15,000
    Other
    $0
    Deferred
    $12,291
    Nontaxable benefits
    $8,640
    Filer's total
    $155,723

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GSCDC VALENCIA LLC

    AFFORDABLE HOUSING · CA · income $145,405 · assets $2,017,535

    Directly controlled by AOFGOLDEN STATE COMMUNITY DEVELOPMENT CORP

  • GSCDC HOLLY HEIGHTS I & II LLC

    AFFORDABLE HOUSING · CA

    Directly controlled by AOFGOLDEN STATE COMMUNITY DEVELOPMENT CORP

  • AOF SYCAMORE COURT LLC

    AFFORDABLE HOUSING · CA

    Directly controlled by AOFGOLDEN STATE COMMUNITY DEVELOPMENT CORP

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • AVHTV LP

    RELATED · AFFORDABLE HOUSING · CA · 99.99% owned · share of income $3,574 · share of assets $5,766 · general or managing partner

  • LAUREL WOODS AFFORDABLE HOUSING LP

    RELATED · AFFORDABLE HOUSING · CA · 50% owned · share of income $29,240 · share of assets $215,087 · general or managing partner

  • HLH AFFORDABLE LP

    RELATED · AFFORDABLE HOUSING · CA · 0.01% owned · share of income -$9 · share of assets -$53,908 · general or managing partner

  • 10632 BOLSA AVENUE LP

    RELATED · AFFORDABLE HOUSING · CA · 0.01% owned · share of income $9 · share of assets $693,240 · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202403169349305440

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