Skip to content
Nonprofiteer
← FOUNDATION COMMUNITIES INC

Form 990 for tax year 2022

Filed by FOUNDATION COMMUNITIES INC.

Totals

Total revenue
$44,338,510
Total expenses
$27,216,921
Contributions and grants received
$30,951,700
Grants paid
$1,060,558
Program service revenue
$8,952,776
Investment income
$4,434,034
Other revenue
$0
Total assets, end of year
$222,576,163
Total liabilities, end of year
$62,423,994
Net assets or fund balances, end of year
$160,152,169
Program services expenses (Part IX)
$23,621,151
Management and general expenses
$2,388,751
Fundraising expenses
$1,207,019
Program service expenses (Part III)
$23,621,151

Program services were 86.8% 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.

  • 1a · Federated campaigns

    $294,870

  • 1d · Related organizations

    $725,000

  • 1e · Government grants (contributions)

    $4,997,198

  • 1f · All other contributions, gifts and grants

    $24,934,632

  • 1g · Noncash contributions included above

    $248,820

  • 2a · Program service revenue: Asset Management Fees

    total $853,755 · related or exempt $853,755

  • 2b · Program service revenue: Development Fees

    total $2,282,896 · related or exempt $2,282,896

  • 2c · Program service revenue: Management Fees

    total $2,117,421 · related or exempt $2,117,421

  • 2d · Program service revenue: Misc. Reimbursements,etc.

    total $542,078 · related or exempt $542,078

  • 2e · Program service revenue: Resident Service Fees

    total $2,710,832 · related or exempt $2,710,832

  • 2f · All other program service revenue

    total $445,794 · related or exempt $445,794

  • 3 · Investment income

    total $4,434,034 · excluded $4,434,034

  • 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 $1,060,558 · program services $1,060,558

  • 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 $942,318 · management and general $942,318

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $15,179,628 · program services $13,653,667 · management and general $595,870 · fundraising $930,091

  • 8 · Pension plan contributions

    total $547,673 · program services $466,088 · management and general $50,387 · fundraising $31,198

  • 9 · Other employee benefits

    total $1,081,297 · program services $882,863 · management and general $145,086 · fundraising $53,348

  • 10 · Payroll taxes

    total $1,252,596 · program services $1,071,863 · management and general $111,623 · fundraising $69,110

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $11,040 · program services $6,298 · management and general $4,742

  • 11c · Fees: accounting

    total $15,105 · program services $4,054 · management and general $11,051

  • 11d · Fees: lobbying

    total $41,290 · program services $41,290

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $450,087 · program services $336,418 · management and general $104,771 · fundraising $8,898

  • 12 · Advertising and promotion

    total $191,203 · program services $145,710 · management and general $23 · fundraising $45,470

  • 13 · Office expenses

    total $118,304 · program services $100,024 · management and general $15,098 · fundraising $3,182

  • 14 · Information technology

    total $167,867 · program services $155,808 · management and general $9,644 · fundraising $2,415

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $348,488 · program services $346,259 · management and general $2,229

  • 17 · Travel

    total $134,901 · program services $122,432 · management and general $10,845 · fundraising $1,624

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $1,779,326 · program services $1,732,587 · management and general $46,739

  • 21 · Payments to affiliates

    total $778,036 · program services $778,036

  • 22 · Depreciation, depletion and amortization

    total $368,033 · program services $349,798 · management and general $14,947 · fundraising $3,288

  • 23 · Insurance

    total $134,988 · program services $134,988

  • 24a · Other expenses: Program supplies

    total $1,353,321 · program services $1,349,932 · management and general $3,389

  • 24b · Other expenses: Project predevelopment

    total $492,792 · program services $492,792

  • 24c · Other expenses: License,fees & dues

    total $487,212 · program services $184,354 · management and general $272,530 · fundraising $30,328

  • 24d · Other expenses: Staff training

    total $98,980 · program services $76,107 · management and general $20,888 · fundraising $1,985

  • 24e · All other expenses

    total $181,878 · program services $129,225 · management and general $26,571 · fundraising $26,082

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,174,584 · end of year $2,543,290

  • 2 · Savings and temporary cash investments

    beginning of year $15,533,242 · end of year $17,079,284

  • 3 · Pledges and grants receivable

    beginning of year $10,557,854 · end of year $8,358,002

  • 4 · Accounts receivable

    beginning of year $8,498,950 · end of year $9,599,841

  • 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 $135,230,612 · end of year $151,364,389

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,609 · end of year $123,417

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

    $5,910,094

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

    $1,634,304

  • 10c · Land, buildings and equipment, net

    beginning of year $3,754,139 · end of year $4,275,790

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $14,000 · end of year $17,000

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $27,015,223 · end of year $29,215,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,393,753 · end of year $7,050,599

  • 21 · Escrow or custodial account liability

    beginning of year $58,637 · end of year $104,767

  • 23 · Secured mortgages and notes payable

    beginning of year $45,847,601 · end of year $52,090,850

  • 24 · Unsecured notes and loans payable

    beginning of year $4,461,642 · end of year $3,177,778

  • 27 · Net assets without donor restrictions

    beginning of year $120,000,733 · end of year $129,222,886

  • 28 · Net assets with donor restrictions

    beginning of year $23,029,847 · end of year $30,929,283

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.

  • OPENING DOORS TO HOMES - AFFORDABLE HOUSING PLUS SUPPORTIVE SERVICESImprove community stability by providing affordable housing for low income residents(3,733 units at 26 affordable housing communities in Austin, Dallas-Fort Worth) Pursued new acquisitions of affordable housing. Case managers provide support to 188 families at or below 30% Median Family Income(CHI program) and 859 individuals living in our SRO communities, 50% of whom were formerly homeless. Case management supports promote housing stability, physical and mental health well-being. Services include access to basic needs, medical and behavioral health services, tools and supports to increase income,community building activities, parenting support, school advocacy and career case management. Property operations are reported at Group Affiliates Form 990 (Tax ID#74-2678601)

    Expenses $11,957,162

  • PROSPER CENTER PROGRAMS-TAX HELP, HEALTH COVERAGE, FINANCIAL WELLNESS & COLLEGE HUB Foundation Communities' Community Tax Help programs in Austin, Dallas and Arlington provided free income tax return preparation services for low-income taxpayers that received $40 million in tax refunds. More than 300 staff and volunteers prepared 23,386 tax returns. The Health Coverage program helped 4,366 people enroll in health insurance, claiming $26.5 million in premium tax credits. Financial Wellness services provided for 204 residents received more than $450,000 in emergency rent or utility assistance funds and 114 residents enrolled in a program designed to improve their credit scores.

    Expenses $5,989,803

  • LEARNING IN A COMMUNITY494 children took part in free after-school and summer learning center programs including pre-K, elementary and teen programs. Additionally, adults are provided with onsite and virtual ESL, digital literacy support, as well as college and career coaching. 321 adults participated in our Adult Education Programs, including 251 ESL, 50 Digital Literacy and 20 through our college humanities class, FreeMinds. The College HUB provided college support services to 623 students and staff facilitated 59 community events connecting with 1,676 total attendees.

    Expenses $3,668,648

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Walter Moreau

    Exec. Director

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

    Schedule J breakdown matched by us

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

  • Vicki McDonald

    Chief REO

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

    Schedule J breakdown matched by us

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

  • Ann Clift

    CFO

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

    Schedule J breakdown matched by us

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

  • Desiree Golden

    Dir. Prop. Mgmt.

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

    Schedule J breakdown matched by us

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

  • Sabrina Butler

    Dir. R.E. Develop.

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

    Schedule J breakdown matched by us

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

  • Julie Candoli

    Dir. Inst. Giving

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

  • Marisela Montoya

    CPO

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

  • Mandy Lewis

    Dir. Asset Mgmt

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

  • Kathleen Peschel

    CPAO

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

  • Mary C Young

    Dir. Supp. Housing

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

  • Angela Herron

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Jason Reneau

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Estrellita Doolin

    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

  • David Hart

    Board Secretary

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Faye Goggins

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Andrew Clements

    Board Member

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • Yvette Flores

    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

  • Selina Serna

    Treasurer

    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

  • 2 · Substantiation required before reimbursing expenses
  • 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.

  • Shady Oaks Hsg 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 FC Shady Oaks HsgLLC

  • M Station Hsg 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 Station Hsg LLC

  • Capital Studios Hsg 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 Dwntown StHsgLLC

  • FC SW Housing LP

    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 Hsg 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 Hsg 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 Hsg 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 North Studios Hsg

  • 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 housiing · TX · 0.01% owned · share of income -$1 · share of assets $2,379 · general or managing partner

    Directly controlled by FC 1508 S Lamar LLC

  • 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 Lane 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

  • Parker GC Joint Venture LLC

    related · Construction of low income housing · TX · 99% owned · share of income $63,817 · share of assets $1,215,140 · general or managing partner

    Directly controlled by Foundation Comm

  • FC Juniper Creek Housing LP

    related · Low income housiing · TX · 0.01% owned

    Directly controlled by FC 11630 NLamar LLC

  • AHFC-FC Norman Housing LP

    related · Low income housing · TX · 0.01% owned

    Directly controlled by AHFC Norman NP Corp

Related corporations and trusts

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

  • FC M Station Hsg 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 Hsg 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
12 September 2023
IRS schema version
2022v5.0
Source object
202312559349300716

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.