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← AVENUE COMMUNITY DEVELOPMENT COPORATION

Form 990 for tax year 2024

Filed by AVENUE COMMUNITY DEVELOPMENT COPORATION.

Totals

Total revenue
$15,106,297
Total expenses
$16,474,178
Contributions and grants received
$4,493,211
Grants paid
$119,668
Program service revenue
$5,663,950
Investment income
$5,362,806
Other revenue
-$413,670
Total assets, end of year
$63,652,158
Total liabilities, end of year
$43,628,114
Net assets or fund balances, end of year
$20,024,044
Program services expenses (Part IX)
$14,970,420
Management and general expenses
$1,008,756
Fundraising expenses
$495,002
Program service expenses (Part III)
$14,970,420

Program services were 90.9% 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.

  • 1c · Fundraising events

    $119,593

  • 1e · Government grants (contributions)

    $1,708,013

  • 1f · All other contributions, gifts and grants

    $2,665,605

  • 2a · Program service revenue: Rental revenue

    total $5,566,668 · related or exempt $5,566,668

  • 2b · Program service revenue: Education, other revenue

    total $55,518 · related or exempt $55,518

  • 2c · Program service revenue: Management income

    total $41,764 · related or exempt $41,764

  • 3 · Investment income

    total $192,550 · excluded $192,550

  • 7a · Gross sales of assets other than inventory

    other assets $31,428,673

  • 7b · Less cost or other basis and sales expenses

    other assets $26,258,417

  • 7c · Gain or loss

    other assets $5,170,256

  • 7d · Net gain or loss

    total $5,170,256 · excluded $5,170,256

  • 8a · Fundraising events: gross income

    $4,575

  • 8a · Fundraising events: contributions included on line 1c

    $119,593

  • 8b · Fundraising events: direct expenses

    $40,346

  • 8c · Net income from fundraising events

    total -$35,771 · excluded -$35,771

  • 10a · Gross sales of inventory

    $1,595,000

  • 10b · Cost of goods sold

    $2,008,950

  • 10c · Net income from sales of inventory

    total -$413,950 · related or exempt -$413,950

  • 11a · Other revenue: NMTC revenue

    total $35,291 · excluded $35,291

  • 11b · Other revenue: Cell tower rental

    total $760 · unrelated business $760

  • 11e · Other revenue, total

    $36,051

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,918 · program services $100,918

  • 2 · Grants to domestic individuals

    total $18,750 · program services $18,750

  • 5 · Compensation of officers, directors and key employees

    total $341,148 · program services $238,182 · management and general $76,914 · fundraising $26,052

  • 7 · Other salaries and wages

    total $2,732,330 · program services $1,983,446 · management and general $434,852 · fundraising $314,032

  • 8 · Pension plan contributions

    total $52,762 · program services $36,945 · management and general $6,929 · fundraising $8,888

  • 9 · Other employee benefits

    total $170,050 · program services $127,659 · management and general $13,724 · fundraising $28,667

  • 10 · Payroll taxes

    total $233,954 · program services $163,202 · management and general $42,408 · fundraising $28,344

  • 11a · Fees: management

    total $270,591 · program services $270,591

  • 11b · Fees: legal

    total $22,047 · program services $22,047

  • 11c · Fees: accounting

    total $223,597 · program services $84,498 · management and general $139,099

  • 11f · Fees: investment management

    total $32,579 · program services $32,579

  • 11g · Fees: other

    total $834,721 · program services $802,851 · management and general $31,870

  • 12 · Advertising and promotion

    total $24,484 · program services $7,005 · fundraising $17,479

  • 13 · Office expenses

    total $213,983 · program services $166,669 · management and general $31,846 · fundraising $15,468

  • 14 · Information technology

    total $272,146 · program services $201,819 · management and general $46,904 · fundraising $23,423

  • 16 · Occupancy

    total $848,888 · program services $848,888

  • 20 · Interest

    total $2,958,763 · program services $2,859,493 · management and general $99,270

  • 22 · Depreciation, depletion and amortization

    total $1,558,527 · program services $1,486,320 · management and general $72,207

  • 23 · Insurance

    total $793,279 · program services $784,269 · management and general $9,010

  • 24a · Other expenses: Program expenses

    total $3,571,836 · program services $3,571,836

  • 24b · Other expenses: Repairs and maintenance

    total $1,044,727 · program services $1,043,101 · management and general $1,626

  • 24c · Other expenses: Special Projects

    total $112,406 · program services $112,406

  • 24d · Other expenses: Fundraising expenses

    total $32,649 · fundraising $32,649

  • 24e · All other expenses

    total $9,043 · program services $6,946 · management and general $2,097

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,810,166 · end of year $3,663,216

  • 2 · Savings and temporary cash investments

    beginning of year $2,159,784 · end of year $3,627,051

  • 3 · Pledges and grants receivable

    beginning of year $381,358 · end of year $639,573

  • 4 · Accounts receivable

    beginning of year $7,818,495 · end of year $125,513

  • 7 · Other notes and loans receivable

    beginning of year $20,075,181

  • 8 · Inventories for sale or use

    beginning of year $3,216,817 · end of year $4,003,729

  • 9 · Prepaid expenses and deferred charges

    beginning of year $644,214 · end of year $145,582

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

    $31,502,161

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

    $11,100,827

  • 10c · Land, buildings and equipment, net

    beginning of year $42,769,609 · end of year $20,401,334

  • 12 · Investments: other securities

    beginning of year $3,419,543

  • 13 · Investments: program-related

    beginning of year $1,487,286 · end of year $3,878,780

  • 14 · Intangible assets

    beginning of year $79,050

  • 15 · Other assets

    beginning of year $380,099 · end of year $27,167,380

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,328,869 · end of year $2,067,357

  • 19 · Deferred revenue

    beginning of year $108,797 · end of year $98,027

  • 23 · Secured mortgages and notes payable

    beginning of year $60,927,198 · end of year $35,889,149

  • 24 · Unsecured notes and loans payable

    beginning of year $40,904 · end of year $1,750,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $3,823,581

  • 27 · Net assets without donor restrictions

    beginning of year $21,544,433 · end of year $18,732,643

  • 28 · Net assets with donor restrictions

    beginning of year $1,291,401 · end of year $1,291,401

Mission and programs · 2024

Mission

The mission of Avenue Community Development Corporation ("Avenue") is to invest in people, homes and communities to advance opportunity for all Houstonians. Continued on Schedule O. Avenue's vision is for all Houstonians to have the opportunity to live in quality homes in healthy, vibrant, and inclusive neighborhoods to ensure Houston's future as a world class city.

Activities or mission (Part I)

To invest in people, homes and communities to advance opportunity for all Houstonians.

  • Affordable Housing: Expenditures relating to the purchase, development, and maintenance of affordable multifamily housing and single-family housing for people living with low to moderate incomes. This activity includes the rental and operation of Avenue's rental portfolio. Avenue Center, the organization's headquarters, also rents space to other nonprofits serving this vulnerable population.

    Expenses $13,892,315 · Revenue $5,194,482

  • Community Initiatives: Fosters resident engagement, leadership, and collaboration to strengthen neighborhoods. Activities include life-skills training, civic engagement, volunteerism, and advocacy for community improvements. By working with residents, government agencies, community organizations, and businesses, Avenue helps increase public safety, beautify neighborhoods, promote health and wellness, improve educational outcomes, and support local arts and culture.

    Expenses $637,285 · Revenue $55,518

  • Family Asset-Building and Other Programs: Promotes homeownership and financial stability through education and counseling. Services include homebuyer education classes, pre- and post-purchase counseling, foreclosure intervention, and matched savings opportunities. During 2024, Avenue provided homebuyer education to 775 households, supported 114 new homeowners, assisted 108 households in preserving their homes, and helped 28 clients access matched savings.

    Expenses $440,820 · Grants $119,668

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Tate Barkley

    President

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Jamie Bryant

    Vice President

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Daniel Ortiz

    Vice President

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Donna Espadas

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Viola Solomon

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Marie Arcos

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Janis Brackett

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Richard Campo

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Alexandra Clements

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Jesus Deanda

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Winnie Kwok

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • John Price

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Meena Rupani

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Jose Sanchez

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Cassandra Silvernail

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Frances Valdez

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Elgin Weaver

    Director

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Mary Lawler

    CEO

    Total calculated
    $173,679
    From this org
    $158,462
    From related orgs
    $0
    Other
    $15,217
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $158,462
    Bonus
    $0
    Other
    $0
    Deferred
    $6,406
    Nontaxable benefits
    $8,811
    Filer's total
    $173,679

  • Karen Briggs Gwin

    CFO

    Total calculated
    $167,467
    From this org
    $154,685
    From related orgs
    $0
    Other
    $12,782
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $154,685
    Bonus
    $0
    Other
    $0
    Deferred
    $4,000
    Nontaxable benefits
    $8,782
    Filer's total
    $167,467

  • Miriam Camero

    VP Programs

    Total calculated
    $119,984
    From this org
    $108,178
    From related orgs
    $0
    Other
    $11,806
    Hours/week
    39 + 1 related

  • Darla Berry

    VP Fund Development

    Total calculated
    $124,781
    From this org
    $112,629
    From related orgs
    $0
    Other
    $12,152
    Hours/week
    39 + 1 related

  • Jason Holoubek

    Real Estate Development Director

    Total calculated
    $121,777
    From this org
    $109,942
    From related orgs
    $0
    Other
    $11,835
    Hours/week
    39 + 1 related

  • David Barron

    Controller

    Total calculated
    $128,081
    From this org
    $120,928
    From related orgs
    $0
    Other
    $7,153
    Hours/week
    39 + 1 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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

  • Avenue 2505 Washington LLC

    Affordable housing · TX · income $1,003,110 · assets $1,610,137

    Directly controlled by Avenue CDC

  • Avenue Jeff Davis LLC

    Affordable housing · TX · income $390,302 · assets $43,053

    Directly controlled by Avenue CDC

  • Avenue Station GP LLC

    Affordable housing · TX · income $790,178 · assets $57

    Directly controlled by Avenue CDC

  • Avenue Center Association LLC

    Affordable housing · TX · income $334,061 · assets $674,730

    Directly controlled by Avenue CDC

  • Avenue Gale Winds LLC

    Affordable housing · TX · income $210,748 · assets $100,766

    Directly controlled by Avenue CDC

  • Avenue Fulton & James LLC

    Affordable housing · TX · income $4,175 · assets $554,665

    Directly controlled by Avenue CDC

  • Avenue Redwood Heights LLC

    Affordable housing · TX · income $690,591 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Las Brisas Apartments LLC

    Affordable housing · TX · income $183,514 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Oak Arbor II LLC

    Affordable housing · TX · income $1,107,883 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Casita NOAH 1 LLC

    Affordable housing · TX · income $2,185,038 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Mangum Oaks Apartments LLC

    Affordable housing · TX · income $141,740 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Leeland Street Apartments LLC

    Affordable housing · TX · income $45,507 · assets $0

    Directly controlled by Avenue CDC

  • Avenue Development LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Avenue Community Capital LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Avenue on 34th Development LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Avenue Station Development LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Avenue Terraces Development LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Irvington Development LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Realty by Avenue LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

  • Avenue Property Management LLC

    Affordable housing · TX · income $0

    Directly controlled by Avenue CDC

Related corporations and trusts

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

  • Irvington Court GP LLC

    C · Affordable housing · TX · 100% owned · share of income -$50 · share of assets $25,832 · controlled entity

    Directly controlled by Avenue CDC

  • Avenue Terraces GP LLC

    C · Affordable housing · TX · 100% owned · share of income -$12 · share of assets -$7 · controlled entity

    Directly controlled by Avenue CDC

  • Avenue on 34th GP LLC

    C · Affordable housing · TX · 100% owned · share of income -$1,052,161 · share of assets -$1,052,159 · controlled entity

    Directly controlled by Avenue CDC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349311761

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