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Nonprofiteer
← AMERICAN VILLAGE COMMUNITIES INC

Form 990 for tax year 2024

Filed by AMERICAN VILLAGE COMMUNITIES INC.

Totals

Total revenue
$2,053,711
Total expenses
$936,901
Contributions and grants received
$0
Grants paid
$50,000
Program service revenue
$362,500
Investment income
$1,691,211
Other revenue
$0
Total assets, end of year
$9,886,434
Total liabilities, end of year
$86,722
Net assets or fund balances, end of year
$9,799,712
Program services expenses (Part IX)
$855,244
Management and general expenses
$81,657
Fundraising expenses
$0
Program service expenses (Part III)
$855,244

Program services were 91.3% 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: CAPACITY SUSTAINING GRANTS

    total $362,500 · related or exempt $362,500

  • 3 · Investment income

    total $267,106 · excluded $267,106

  • 7a · Gross sales of assets other than inventory

    securities $5,307,095

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

    securities $3,882,990

  • 7c · Gain or loss

    securities $1,424,105

  • 7d · Net gain or loss

    total $1,424,105 · excluded $1,424,105

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000 · program services $50,000

  • 5 · Compensation of officers, directors and key employees

    total $584,052 · program services $584,052

  • 7 · Other salaries and wages

    total $75,200 · program services $75,200

  • 9 · Other employee benefits

    total $5,151 · program services $5,151

  • 10 · Payroll taxes

    total $35,058 · program services $35,058

  • 11c · Fees: accounting

    total $34,869 · management and general $34,869

  • 11f · Fees: investment management

    total $26,563 · management and general $26,563

  • 11g · Fees: other

    total $2,439 · program services $2,439

  • 13 · Office expenses

    total $30,753 · program services $30,753

  • 14 · Information technology

    total $25,341 · program services $25,341

  • 16 · Occupancy

    total $32,291 · program services $32,291

  • 17 · Travel

    total $857 · program services $857

  • 22 · Depreciation, depletion and amortization

    total $6,207 · program services $6,207

  • 23 · Insurance

    total $15,496 · management and general $15,496

  • 24a · Other expenses: MEALS

    total $4,436 · program services $4,436

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,459 · program services $3,459

  • 24c · Other expenses: CONSULTING

    total $2,500 · management and general $2,500

  • 24d · Other expenses: CLIENT RELATIONS

    total $2,229 · management and general $2,229

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $156,553 · end of year $265,126

  • 2 · Savings and temporary cash investments

    beginning of year $263,916 · end of year $865,533

  • 4 · Accounts receivable

    beginning of year $9,326 · end of year $18,880

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,159 · end of year $7,541

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

    $76,887

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

    $43,856

  • 10c · Land, buildings and equipment, net

    beginning of year $27,131 · end of year $33,031

  • 11 · Investments: publicly traded securities

    beginning of year $9,041,275 · end of year $8,619,667

  • 15 · Other assets

    beginning of year $8,552 · end of year $76,656

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,177 · end of year $13,949

  • 25 · Other liabilities

    beginning of year $4,669 · end of year $72,773

  • 27 · Net assets without donor restrictions

    beginning of year $9,492,066 · end of year $9,799,712

Mission and programs · 2024

Mission

ASSIST IN AND DIRECTLY SUPPORT PROVIDING HOUSING FOR LOW AND VERY LOW-INCOME PERSONS, ELDERLY PERSONS AND HANDICAPPED PERSONS BY PROVIDING MANAGEMENT AND PROGRAM SUPPORT SERVICES TO SUBORDINATE AND/OR SUPPORTED ORGANIZATIONS WHICH ENGAGE IN HOUSING PROJECTS THAT SERVE THE ABOVE.

Activities or mission (Part I)

ASSIST IN AND DIRECTLY SUPPORT PROVIDING HOUSING FOR LOW AND VERY LOW-INCOME, ELDERLY AND HANDICAPPED PERSONS.

  • AVC PROVIDES ASSET MANAGEMENT AND PROGRAM SUPPORT SERVICES ON BEHALF OF ITS SUBORDINATE AND/OR SUPPORTED ORGANIZATIONS WHICH ENGAGE IN LOW AND VERY-LOW INCOME HOUSING AND ELDERLY HOUSING PROJECTS. AVC, AS AN IRC SECTION 509(A)(3) SUPPORTING ORGANIZATION, SUPPORTS THESE ORGANIZATIONS IN PROVIDING HOUSING FOR LOW AND VERY-LOW INCOME PERSONS AND ELDERLY AND HANDICAPPED.

    Expenses $855,244 · Grants $50,000 · Revenue $362,500

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

Listed in Part VII

  • BRANT BABER

    PRES/SEC/TREAS/DIR

    Total calculated
    $348,539
    From this org
    $343,750
    From related orgs
    $0
    Other
    $4,789
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $343,750
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,789
    Filer's total
    $348,539

  • JOHN CONRAD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARGARET P BESSETTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SAMUEL CARNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DANIEL J JESSEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • STEELE JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KATHERINE KALINOWSKI

    EXEC. VICE PRESIDENT

    Total calculated
    $235,513
    From this org
    $231,250
    From related orgs
    $0
    Other
    $4,263
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $231,250
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,263
    Filer's total
    $235,513

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 · Independent compensation consultant
  • 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.

Provenance

Return type
form_990
Tax year
2024
Filed
22 October 2025
IRS schema version
2024v5.2
Source object
202542979349301934

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