Totals
- Total revenue
- $25,916,885
- Total expenses
- $26,233,144
- Contributions and grants received
- $2,173,383
- Grants paid
- $0
- Program service revenue
- $23,509,687
- Investment income
- $233,815
- Other revenue
- $0
- Total assets, end of year
- $93,469,686
- Total liabilities, end of year
- $123,642,888
- Net assets or fund balances, end of year
- -$30,173,202
- Program services expenses (Part IX)
- $26,233,144
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $26,233,144
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.
-
1f · All other contributions, gifts and grants
$2,173,383
-
1g · Noncash contributions included above
$2,163,383
-
2a · Program service revenue: Misc. Property Income
total $824,232 · related or exempt $824,232
-
2b · Program service revenue: Residential Rents
total $22,685,455 · related or exempt $22,685,455
-
3 · Investment income
total $233,815 · excluded $233,815
-
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 $0
-
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 $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $3,469,533 · program services $3,469,533
-
8 · Pension plan contributions
total $143,911 · program services $143,911
-
9 · Other employee benefits
total $422,238 · program services $422,238
-
10 · Payroll taxes
total $277,572 · program services $277,572
-
11a · Fees: management
total $5,559,624 · program services $5,559,624
-
11b · Fees: legal
total $36,939 · program services $36,939
-
11c · Fees: accounting
total $30,906 · program services $30,906
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $790,972 · program services $790,972
-
12 · Advertising and promotion
total $95,420 · program services $95,420
-
13 · Office expenses
total $51,349 · program services $51,349
-
14 · Information technology
total $6,335 · program services $6,335
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $3,726 · program services $3,726
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $2,245,056 · program services $2,245,056
-
21 · Payments to affiliates
total $830,000 · program services $830,000
-
22 · Depreciation, depletion and amortization
total $5,870,596 · program services $5,870,596
-
23 · Insurance
total $731,935 · program services $731,935
-
24a · Other expenses: Prop. Maintenance
total $2,094,327 · program services $2,094,327
-
24b · Other expenses: Utilities
total $1,700,189 · program services $1,700,189
-
24c · Other expenses: Property Service Contracts
total $1,378,653 · program services $1,378,653
-
24d · Other expenses: Property taxes
total $250,753 · program services $250,753
-
24e · All other expenses
total $243,110 · program services $243,110
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,656,528 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $1,592,703 · end of year $6,963,479
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $207,919 · end of year $205,049
-
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 $1,430,000 · end of year $1,430,000
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $79,880 · end of year $88,578
-
10a · Land, buildings and equipment: cost or other basis
$184,121,464
-
10b · Land, buildings and equipment: accumulated depreciation
$106,001,469
-
10c · Land, buildings and equipment, net
beginning of year $71,658,241 · end of year $78,119,995
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $1,725 · end of year $1,092
-
15 · Other assets
beginning of year $6,617,769 · end of year $6,661,493
-
17 · Accounts payable and accrued expenses
beginning of year $2,614,349 · end of year $3,253,584
-
19 · Deferred revenue
beginning of year $318,172 · end of year $273,178
-
23 · Secured mortgages and notes payable
beginning of year $50,272,367 · end of year $54,961,945
-
25 · Other liabilities
beginning of year $60,896,820 · end of year $65,154,181
-
27 · Net assets without donor restrictions
beginning of year -$31,481,943 · end of year -$31,798,202
-
28 · Net assets with donor restrictions
beginning of year $1,625,000 · end of year $1,625,000
Mission and programs · 2023
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.
-
AFFORDABLE HOUSING & SUPPORTIVE SERVICESImprove overall community stability by providing affordable housing alternatives for low income residents and educational services to expand opportunities for them.(2,874 multi-family and 859 SRO housing units) Properties are managed and supervised by Foundation Communities, Inc. - see separate Form 990 (Tax ID#74-2563260) On-site learning centers provide free after-school and summer learning programs for children. Adults are provided with ESL, financial literacy, exercise and healthy living classes. Social work case managers provide individual case management to families at or below 30% median family income to assist with issues that risk stability in the household. Additional case management services provided for communities that house individuals that have previously been homeless.
Expenses $26,233,144
As filed on the 2023 return.
Listed in Part VII
-
Walter Moreau
Exec. Director
- Total calculated
- $392,818
- From this org
- $0
- From related orgs
- $369,104
- Other
- $23,714
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $339,900 related
- Bonus
- not reported + $49,000 related
- Other
- not reported
- Deferred
- not reported + $17,806 related
- Nontaxable benefits
- not reported + $5,908 related
- Filer's total
- not reported + $412,614 related
-
Vicki McDonald
Chief REO
- Total calculated
- $230,330
- From this org
- $0
- From related orgs
- $214,206
- Other
- $16,124
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $184,358 related
- Bonus
- not reported + $31,000 related
- Other
- not reported
- Deferred
- not reported + $10,751 related
- Nontaxable benefits
- not reported + $5,373 related
- Filer's total
- not reported + $231,482 related
-
Ann Clift
CFO
- Total calculated
- $214,561
- From this org
- $0
- From related orgs
- $198,937
- Other
- $15,624
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $184,358 related
- Bonus
- not reported + $21,000 related
- Other
- not reported
- Deferred
- not reported + $10,251 related
- Nontaxable benefits
- not reported + $5,373 related
- Filer's total
- not reported + $220,982 related
-
Marisela Montoya
CPO
- Total calculated
- $170,180
- From this org
- $0
- From related orgs
- $157,119
- Other
- $13,061
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $136,500 related
- Bonus
- not reported + $21,000 related
- Other
- not reported
- Deferred
- not reported + $7,884 related
- Nontaxable benefits
- not reported + $5,177 related
- Filer's total
- not reported + $170,561 related
-
Sabrina Butler
Dir. R.E. Dev.
- Total calculated
- $167,843
- From this org
- $0
- From related orgs
- $154,361
- Other
- $13,482
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $133,661 related
- Bonus
- not reported + $20,700 related
- Other
- not reported
- Deferred
- not reported + $8,272 related
- Nontaxable benefits
- not reported + $5,210 related
- Filer's total
- not reported + $167,843 related
-
Kathleen Peschel
CPAO
- Total calculated
- $166,680
- From this org
- $0
- From related orgs
- $153,654
- Other
- $13,026
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $136,500 related
- Bonus
- not reported + $20,300 related
- Other
- not reported
- Deferred
- not reported + $7,849 related
- Nontaxable benefits
- not reported + $5,177 related
- Filer's total
- not reported + $169,826 related
-
Desiree Golden
Dir. Prop. Mgmt.
- Total calculated
- $166,034
- From this org
- $0
- From related orgs
- $153,086
- Other
- $12,948
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $147,086 related
- Bonus
- not reported + $6,000 related
- Other
- not reported
- Deferred
- not reported + $7,714 related
- Nontaxable benefits
- not reported + $5,234 related
- Filer's total
- not reported + $166,034 related
-
Julie Candoli
Dir. Inst. Giving
- Total calculated
- $148,765
- From this org
- $0
- From related orgs
- $136,936
- Other
- $11,829
- Hours/week
- 40 + 40 related
-
Mandy Lewis
Dir. Asset Mgmt
- Total calculated
- $132,071
- From this org
- $0
- From related orgs
- $120,933
- Other
- $11,138
- Hours/week
- 40 + 40 related
-
Mary C Young
Dir. Supp. Svc.
- Total calculated
- $131,556
- From this org
- $0
- From related orgs
- $120,443
- Other
- $11,113
- Hours/week
- 40 + 40 related
-
Selina Serna
Treasurer
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Estrellita Doolin
Board Member
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Angela Herron
Board Member
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Andrew Clements
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
-
Faye Goggins
Board Member
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Jason Reneau
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
-
David Hart
Board Secretary
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Yvette Flores
Board Member
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
Michael Furrow
Board Member
- Total calculated
- $0
- Hours/week
- 5
-
Erika Levack
Board Member
- Total calculated
- $0
- Hours/week
- 5
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 · 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.
-
501(c)(3) · Low income housing and social services · TX
Directly controlled by NA
-
501(c)(3) · Community business office rental · TX
Directly controlled by Foundation Communities Inc
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.
-
Low income housing · TX · income -$56 · assets $575
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$64 · assets $1,680,250
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$63 · assets $469
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income $3,393 · assets $5,327
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$54 · assets $735
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$70
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$85
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income -$125 · assets $21,453
Directly controlled by Foundation Communities Inc
-
Low income housing · TX
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income $7 · assets $3,007
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income $5,604 · assets $5,604
Directly controlled by Foundation Communities Inc
-
Low income housing · TX · income $773 · assets $773
Directly controlled by Foundation Communities Inc
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
related · Low income housing · TX · 0.01% owned · share of income -$66 · share of assets $1,376 · general or managing partner
Directly controlled by FC M St Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$20 · share of assets $1,434 · general or managing partner
Directly controlled by FCShady Oaks Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$42 · share of assets $1,503 · general or managing partner
Directly controlled by FC Dwntn Std Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$51 · share of assets $1,935 · general or managing partner
Directly controlled by FC Homestead Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$63 · share of assets $2,328 · general or managing partner
Directly controlled by FC Lakeline Hsg LLC
-
FC Southwest Trails Housing LP
related · Low income housing · TX · 0.01% owned · share of income -$56 · share of assets $1,216 · general or managing partner
Directly controlled by FC Hwy 71 Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$64 · share of assets $1,713 · general or managing partner
Directly controlled by FC SOLA Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$49 · share of assets $2,191 · general or managing partner
Directly controlled by FC 4 Points Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$54 · share of assets $2,441 · general or managing partner
Directly controlled by FC Tilley Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$70 · share of assets $2,531 · general or managing partner
Directly controlled by FC N Studios HsgLLC
-
related · Low income housing · TX · 0.01% owned · share of income -$85 · share of assets $2,576 · general or managing partner
Directly controlled by FC Braker Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income -$125 · share of assets $2,608 · general or managing partner
Directly controlled by FC 1508 S Lamar Hsg
-
related · Low income housing · TX · 0.01% owned · share of income -$103 · share of assets $3,403 · general or managing partner
Directly controlled by FC Hwy 45 Hsg LLC
-
related · Low income housing · TX · 0.01% owned · share of income $6 · share of assets $2,981 · general or managing partner
Directly controlled by FC 2105 Parker Hsg
-
related · Low income housing const. · TX · 99% owned · share of income -$63,811 · share of assets $4,582,848
Directly controlled by Foundation Communit
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · Low income housing · TX · 100% owned · share of income -$166 · share of assets $950,470
Directly controlled by Found Comm
-
C · Low income housing · TX · 100% owned · share of income -$5,012 · share of assets $6,415
Directly controlled by Found Comm
-
FC Downtown Studios Housing LLC
C · Low income housing · TX · 100% owned · share of income -$68,611 · share of assets $2,401,259
Directly controlled by Found Comm
-
C · Low income housing · TX · 100% owned · share of income -$55 · share of assets $16,528
Directly controlled by Found Comm
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402989349300525
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