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← FAMILY GATEWAY AFFORDABLE HOUSING INC

Form 990 for tax year 2024

Filed by FAMILY GATEWAY AFFORDABLE HOUSING INC.

Totals

Total revenue
$215,522
Total expenses
$315
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$188,700
Investment income
$26,822
Other revenue
$0
Total assets, end of year
$1,260,954
Total liabilities, end of year
$2,478
Net assets or fund balances, end of year
$1,258,476
Program services expenses (Part IX)
$0
Management and general expenses
$315
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 2a · Program service revenue: PARTNERSHIP DISTRIBUTI

    total $188,700 · related or exempt $188,700

  • 3 · Investment income

    total $26,822 · excluded $26,822

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: BANK FEES

    total $315 · management and general $315

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $513,096 · end of year $1,228,216

  • 3 · Pledges and grants receivable

    beginning of year $700,000 · end of year $11,415

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,323 · end of year $21,323

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,450 · end of year $2,478

  • 27 · Net assets without donor restrictions

    beginning of year $1,231,969 · end of year $1,258,476

Mission and programs · 2024

Mission

FAMILY GATEWAY AFFORDABLE HOUSING, INC. (FGAH) IS OPERATED, SUPERVISED, AND CONTROLLED BY FAMILY GATEWAY, INC. (FG), A TEXAS NONPROFIT FOR THE PURPOSE OF BUILDING AND OPERATING HOUSING UNITS AVAILABLE TO LOW INCOME TENANTS. FGAH WORKS WITH FG TO PROVIDE VARIOUS SUPPORT SERVICES TO TENANTS OCCUPYING FGAH'S PROPERTY, AND ASSIST FG IN FULFILLING ITS PURPOSES OF PROVIDING SAFE, DECENT, AND AFFORDABLE HOUSING TO LOW INCOME AND VERY LOW INCOME INDIVIDUALS.

  • FAMILY GATEWAY AFFORDABLE HOUSING, INC. (FGAH) IS THE SPONSOR OF AN AFFORDABLE HOUSING PROJECT IN HUTCHINS, TEXAS.

    Revenue $188,700

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

Listed in Part VII

  • Alex Sharma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andy Yung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rob Groverstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Exa Whiteman

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ellen Magnis

    PRESIDENT AND CEO

    Total calculated
    $273,324
    From this org
    $0
    From related orgs
    $264,897
    Other
    $8,427
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,897 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $8,427 related
    Filer's total
    $0 + $273,324 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

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.

Related corporations and trusts

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

  • HUTCHINS 805 NORTH DENTON GP LLC

    C · LOW-INCOME HOUSING · TX · 51% owned

    Directly controlled by RMGM

Provenance

Return type
form_990
Tax year
2024
Filed
16 November 2025
IRS schema version
2024v5.2
Source object
202523219349303742

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