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← FOUNDATION COMMUNITIES

Form 990 for tax year 2022

Filed by FOUNDATION COMMUNITIES.

Totals

Total revenue
$24,735,536
Total expenses
$25,393,485
Contributions and grants received
$2,313,313
Grants paid
$0
Program service revenue
$22,328,348
Investment income
$93,875
Other revenue
$0
Total assets, end of year
$84,244,765
Total liabilities, end of year
$114,101,708
Net assets or fund balances, end of year
-$29,856,943
Program services expenses (Part IX)
$25,393,485
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$25,393,485

Program services were 100.0% 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.

  • 1d · Related organizations

    $2,313,313

  • 1g · Noncash contributions included above

    $2,313,313

  • 2a · Program service revenue: Misc. Property Income

    total $851,908 · related or exempt $851,908

  • 2b · Program service revenue: Residential Rents

    total $21,476,440 · related or exempt $21,476,440

  • 3 · Investment income

    total $93,875 · excluded $93,875

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,183,930 · program services $3,183,930

  • 8 · Pension plan contributions

    total $121,739 · program services $121,739

  • 9 · Other employee benefits

    total $312,713 · program services $312,713

  • 10 · Payroll taxes

    total $249,380 · program services $249,380

  • 11a · Fees: management

    total $5,003,955 · program services $5,003,955

  • 11b · Fees: legal

    total $5,277 · program services $5,277

  • 11c · Fees: accounting

    total $25,000 · program services $25,000

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $85,301 · program services $85,301

  • 13 · Office expenses

    total $53,701 · program services $53,701

  • 14 · Information technology

    total $2,121 · program services $2,121

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $530,161 · program services $530,161

  • 17 · Travel

    total $2,927 · program services $2,927

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $3,141,826 · program services $3,141,826

  • 21 · Payments to affiliates

    total $725,000 · program services $725,000

  • 22 · Depreciation, depletion and amortization

    total $5,408,091 · program services $5,408,091

  • 23 · Insurance

    total $649,221 · program services $649,221

  • 24a · Other expenses: Prop. Maintenance

    total $2,047,872 · program services $2,047,872

  • 24b · Other expenses: Property Service Contracts

    total $1,738,735 · program services $1,738,735

  • 24c · Other expenses: Utilities

    total $1,661,927 · program services $1,661,927

  • 24d · Other expenses: Property taxes

    total $224,191 · program services $224,191

  • 24e · All other expenses

    total $220,417 · program services $220,417

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,446,707 · end of year $2,656,528

  • 2 · Savings and temporary cash investments

    beginning of year $1,378,615 · end of year $1,592,703

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $274,582 · end of year $207,919

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,430,000 · end of year $1,430,000

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $74,375 · end of year $79,880

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

    $171,976,609

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

    $100,318,368

  • 10c · Land, buildings and equipment, net

    beginning of year $65,111,043 · end of year $71,658,241

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $3,712 · end of year $1,725

  • 15 · Other assets

    beginning of year $6,496,906 · end of year $6,617,769

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,877,942 · end of year $2,614,349

  • 19 · Deferred revenue

    beginning of year $521,104 · end of year $318,172

  • 23 · Secured mortgages and notes payable

    beginning of year $53,095,390 · end of year $50,272,367

  • 25 · Other liabilities

    beginning of year $51,920,498 · end of year $60,896,820

  • 27 · Net assets without donor restrictions

    beginning of year -$30,823,994 · end of year -$31,481,943

  • 28 · Net assets with donor restrictions

    beginning of year $1,625,000 · end of year $1,625,000

Mission and programs · 2022

Mission

Creating housing where families succeed. Affordable housing with supportive social services to educate, support and improve the financial standing of the working poor and their communities.

  • AFFORDABLE HOUSING & SUPPORTIVE SERVICESImprove overall community stability by providing affordable housing alternatives for low income residents and educational services to expand opportunities for them.(2,874 multi-family and 859 SRO housing units) Properties are managed and supervised by Foundation Communities, Inc. - see separate Form 990 (Tax ID#74-2563260) On-site learning centers provide free after-school and summer learning programs for children. Adults are provided with ESL, financial literacy, exercise and healthy living classes. Social work case managers provide individual case management to families at or below 30% median family income to assist with issues that risk stability in the household. Additional case management services provided for communities that house individuals that have previously been homeless.

    Expenses $25,393,485

As filed on the 2022 return.

Listed in Part VII

  • Walter Moreau

    Exec. Director

    Total calculated
    $355,132
    From this org
    $0
    From related orgs
    $334,433
    Other
    $20,699
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $283,433 related
    Bonus
    not reported + $51,000 related
    Other
    not reported
    Deferred
    not reported + $16,259 related
    Nontaxable benefits
    not reported + $4,440 related
    Filer's total
    not reported + $355,132 related

  • Vicki McDonald

    Chief REO

    Total calculated
    $199,187
    From this org
    $0
    From related orgs
    $185,428
    Other
    $13,759
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $174,428 related
    Bonus
    not reported + $11,000 related
    Other
    not reported
    Deferred
    not reported + $9,319 related
    Nontaxable benefits
    not reported + $4,440 related
    Filer's total
    not reported + $199,187 related

  • Ann Clift

    CFO

    Total calculated
    $197,084
    From this org
    $0
    From related orgs
    $183,075
    Other
    $14,009
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $167,075 related
    Bonus
    not reported + $16,000 related
    Other
    not reported
    Deferred
    not reported + $9,569 related
    Nontaxable benefits
    not reported + $4,440 related
    Filer's total
    not reported + $197,084 related

  • Desiree Golden

    Dir. Prop. Mgmt.

    Total calculated
    $151,633
    From this org
    $0
    From related orgs
    $139,840
    Other
    $11,793
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $133,840 related
    Bonus
    not reported + $6,000 related
    Other
    not reported
    Deferred
    not reported + $7,353 related
    Nontaxable benefits
    not reported + $4,440 related
    Filer's total
    not reported + $151,633 related

  • Sabrina Butler

    Dir. R.E. Dev.

    Total calculated
    $150,716
    From this org
    $0
    From related orgs
    $138,866
    Other
    $11,850
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $123,266 related
    Bonus
    not reported + $15,600 related
    Other
    not reported
    Deferred
    not reported + $7,410 related
    Nontaxable benefits
    not reported + $4,440 related
    Filer's total
    not reported + $150,716 related

  • Julie Candoli

    Dir. Inst. Giving

    Total calculated
    $143,912
    From this org
    $0
    From related orgs
    $132,757
    Other
    $11,155
    Hours/week
    40 + 40 related

  • Marisela Montoya

    CPO

    Total calculated
    $133,927
    From this org
    $0
    From related orgs
    $123,294
    Other
    $10,633
    Hours/week
    40 + 40 related

  • Mandy Lewis

    Dir. Asset Mgmt

    Total calculated
    $123,331
    From this org
    $0
    From related orgs
    $113,191
    Other
    $10,140
    Hours/week
    40 + 40 related

  • Kathleen Peschel

    CPAO

    Total calculated
    $122,795
    From this org
    $0
    From related orgs
    $116,088
    Other
    $6,707
    Hours/week
    40 + 40 related

  • Mary C Young

    Dir. Supp. Svc.

    Total calculated
    $120,004
    From this org
    $0
    From related orgs
    $110,057
    Other
    $9,947
    Hours/week
    40 + 40 related

  • Selina Serna

    Treasurer

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Estrellita Doolin

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Angela Herron

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Andrew Clements

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Angelique Goodnough

    Vice Chair

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Tiffany Nicely-Williams

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Jewel Arrington

    Chair

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Faye Goggins

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Jason Reneau

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Betty Warren

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Phil Redmond

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • David Hart

    Board Secretary

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Yvette Flores

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Adrianna Cuellar Rojas

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7: Non-Fixed payments not listed above
Bonus amounts are approved by board of directors to Executive Director and ED approves any bonus to staff based on exceptional performance or merit. Additionally all staff receive holiday bonus based on years of service and capped at $1,000 per person.

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.

Related partnerships

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

  • M Station Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$66 · share of assets $1,479 · general or managing partner

    Directly controlled by FC M St Hsg LLC

  • Shady Oaks Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$20 · share of assets $1,450 · general or managing partner

    Directly controlled by FCShady Oaks Hsg LLC

  • Capital Studios Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$42 · share of assets $1,413 · general or managing partner

    Directly controlled by FC Dwntn Std Hsg LLC

  • FC SW Housing LP Homestead

    related · Low income housing · TX · 0.01% owned · share of income -$40 · share of assets $1,973 · general or managing partner

    Directly controlled by FC Homestead Hsg LLC

  • FC Rutledge Housing LP

    related · Low income housing · TX · 0.01% owned · share of income $33 · share of assets $2,377 · general or managing partner

    Directly controlled by FC Lakeline Hsg LLC

  • FC Southwest Trails Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$59 · share of assets $1,254 · general or managing partner

    Directly controlled by FC Hwy 71 Hsg LLC

  • FC Bluebonnet Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$71 · share of assets $1,741 · general or managing partner

    Directly controlled by FC SOLA Hsg LLC

  • FC Cardinal Point Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$43 · share of assets $2,254 · general or managing partner

    Directly controlled by FC 4 Points Hsg LLC

  • FC Mueller Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$55 · share of assets $2,505 · general or managing partner

    Directly controlled by FC Tilley Hsg LLC

  • FC Waters Park Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$66 · share of assets $2,547 · general or managing partner

    Directly controlled by FC N Studios HsgLLC

  • FC N Lamar Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$122 · share of assets $2,690 · general or managing partner

    Directly controlled by FC Braker Hsg LLC

  • FC Zilker Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$1 · share of assets $2,379 · general or managing partner

    Directly controlled by FC 1508 S Lamar Hsg

  • FC Lakeline Mall Housing LP

    related · Low income housing · TX · 0.01% owned · share of income -$1 · share of assets $2,880 · general or managing partner

    Directly controlled by FC Hwy 45 Hsg LLC

  • FC Parker Housing LP

    related · Low income housing · TX · 0.01% owned · share of income $2,000 · share of assets $1,544 · general or managing partner

    Directly controlled by FC 2105 Parker Hsg

  • Parker GC Joint Venture LLC

    related · Low income housing const. · TX · 99% owned · share of income $63,817 · share of assets $1,215,140

    Directly controlled by Foundation Communit

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FC M Station Housing LLC

    C · Low income housing · TX · 100% owned · share of income -$22 · share of assets $936,405

    Directly controlled by Found Comm

  • FC Shady Oaks Housing LLC

    C · Low income housing · TX · 100% owned · share of income -$15 · share of assets $119,925

    Directly controlled by Found Comm

  • FC Downtown Studios Housing LLC

    C · Low income housing · TX · 100% owned · share of income -$73,561 · share of assets $2,407,833

    Directly controlled by Found Comm

  • FC Homestead Housing LLC

    C · Low income housing · TX · 100% owned · share of income -$48 · share of assets $11,458

    Directly controlled by Found Comm

Provenance

Return type
form_990
Tax year
2022
Filed
3 November 2023
IRS schema version
2022v5.0
Source object
202313079349303131

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