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Nonprofiteer
← AMERICAN OPPORTUNITY FOUNDATION

Form 990 for tax year 2022

Filed by AMERICAN OPPORTUNITY FOUNDATION.

Totals

Total revenue
$36,868
Total expenses
$31,000,072
Contributions and grants received
$0
Grants paid
$31,000,000
Program service revenue
$0
Investment income
$36,868
Other revenue
$0
Total assets, end of year
$6,777,597
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$6,777,597
Program services expenses (Part IX)
$31,000,000
Management and general expenses
$72
Fundraising expenses
$0
Program service expenses (Part III)
$31,000,000

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.

  • 3 · Investment income

    total $36,868 · excluded $36,868

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $31,000,000 · program services $31,000,000

  • 24a · Other expenses: BANK FEES

    total $72 · management and general $72

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,917,301 · end of year $1,640,729

  • 2 · Savings and temporary cash investments

    end of year $5,136,868

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,500

  • 25 · Other liabilities

    beginning of year $150,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $37,740,801 · end of year $6,777,597

Mission and programs · 2022

Mission

THE CORPORATION WAS ORGANIZED TO ACQUIRE, REHABILITATE, OPERATE AND SELL AFFORDABLE HOUSING FOR MODERATE TO LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.

Activities or mission (Part I)

THE CORPORATION WAS ORGANIZED TO ACQUIRE, REHABILITATE, OPERATE AND SELL AFFORDABLE HOUSING FOR LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.

  • OPERATING TWO MULTIFAMILY APARTMENT COMPLEXES TOTALLING 429 UNITS FOR MODERATE TO LOW-INCOME PERSONS OR FAMILIES.

    Expenses $31,000,000 · Grants $31,000,000

As filed on the 2022 return.

Listed in Part VII

  • Philip J Kennedy

    PRESIDENT, TRUSTEE

    Total calculated
    $1,065,556
    From this org
    $0
    From related orgs
    $993,125
    Other
    $72,431
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $378,125 related
    Bonus
    $0 + $600,000 related
    Other
    $0 + $15,000 related
    Deferred
    $0 + $37,840 related
    Nontaxable benefits
    $0 + $34,591 related
    Filer's total
    $0 + $1,065,556 related

  • Kathryn T Walker

    VICE PRESIDENT, TRUSTEE

    Total calculated
    $422,670
    From this org
    $0
    From related orgs
    $365,000
    Other
    $57,670
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,000 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $15,000 related
    Deferred
    $0 + $37,840 related
    Nontaxable benefits
    $0 + $19,830 related
    Filer's total
    $0 + $422,670 related

  • Robert R Derrick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • William F Fisher III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • Douglas Trivers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 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

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

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.

  • AOF CEDAR GROVE LLC

    AFFORDABLE HOUSING · DE · assets $531,497

    Directly controlled by AOF MIAMI DADE AFFORDABLE HOUSING CORP

  • AOF EMERALD DUNES LLC

    AFFORDABLE HOUSING · DE · assets $527,701

    Directly controlled by AOF MIAMI DADE AFFORDABLE HOUSING CORP

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2025
IRS schema version
2022v5.0
Source object
202531359349312288

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