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Nonprofiteer
← AMERICAN VILLAGE COMMUNITIES INC

Form 990 for tax year 2024

Filed by AMERICAN VILLAGE COMMUNITIES INC.

Totals

Total revenue
$4,075,039
Total expenses
$3,471,798
Contributions and grants received
$0
Grants paid
$150,000
Program service revenue
$3,739,087
Investment income
$236,693
Other revenue
$99,259
Total assets, end of year
$16,538,233
Total liabilities, end of year
$13,298,677
Net assets or fund balances, end of year
$3,239,556
Program services expenses (Part IX)
$3,208,793
Management and general expenses
$263,005
Fundraising expenses
$0
Program service expenses (Part III)
$3,208,793

Program services were 92.4% 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: RENTAL REAL ESTATE

    total $4,801,513 · related or exempt $4,801,513

  • 2b · Program service revenue: VACANCIES AND ALLOWANCES

    total -$1,062,426 · related or exempt -$1,062,426

  • 3 · Investment income

    total $189,041 · excluded $189,041

  • 7a · Gross sales of assets other than inventory

    securities $1,699,923

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

    securities $1,652,271

  • 7c · Gain or loss

    securities $47,652

  • 7d · Net gain or loss

    total $47,652 · related or exempt $47,652

  • 11a · Other revenue: LATE CHARGES

    total $39,013 · related or exempt $39,013

  • 11b · Other revenue: CLEANING FEES

    total $33,324 · related or exempt $33,324

  • 11c · Other revenue: LAUNDRY & VENDING

    total $13,779 · related or exempt $13,779

  • 11d · All other revenue

    total $13,143 · related or exempt $13,143

  • 11e · Other revenue, total

    $99,259

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $150,000 · program services $150,000

  • 7 · Other salaries and wages

    total $553,147 · program services $553,147

  • 9 · Other employee benefits

    total $62,585 · program services $62,585

  • 10 · Payroll taxes

    total $42,441 · program services $42,441

  • 11a · Fees: management

    total $157,495 · program services $157,495

  • 11b · Fees: legal

    total $800 · program services $800

  • 11c · Fees: accounting

    total $16,200 · program services $16,200

  • 11f · Fees: investment management

    total $12,387 · program services $12,387

  • 12 · Advertising and promotion

    total $35,016 · program services $35,016

  • 13 · Office expenses

    total $57,837 · program services $57,837

  • 16 · Occupancy

    total $863,727 · program services $863,727

  • 17 · Travel

    total $40 · program services $40

  • 22 · Depreciation, depletion and amortization

    total $560,066 · program services $560,066

  • 23 · Insurance

    total $13,005 · management and general $13,005

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $598,565 · program services $598,565

  • 24b · Other expenses: CAPACITY SUSTAINING GRA

    total $250,000 · management and general $250,000

  • 24c · Other expenses: SECURITY

    total $52,875 · program services $52,875

  • 24d · Other expenses: CONTRACT LABOR

    total $42,887 · program services $42,887

  • 24e · All other expenses

    total $2,725 · program services $2,725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,218,810 · end of year $1,597,970

  • 2 · Savings and temporary cash investments

    beginning of year $4,657,722 · end of year $4,953,923

  • 4 · Accounts receivable

    beginning of year $26,790 · end of year $29,738

  • 9 · Prepaid expenses and deferred charges

    beginning of year $286,252 · end of year $305,716

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

    $19,784,367

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

    $10,253,509

  • 10c · Land, buildings and equipment, net

    beginning of year $9,852,827 · end of year $9,530,858

  • 14 · Intangible assets

    beginning of year $152,036 · end of year $120,028

  • 17 · Accounts payable and accrued expenses

    beginning of year $62,953 · end of year $61,296

  • 19 · Deferred revenue

    beginning of year $94,394 · end of year $80,904

  • 23 · Secured mortgages and notes payable

    beginning of year $13,343,678 · end of year $13,036,830

  • 25 · Other liabilities

    beginning of year $128,993 · end of year $119,647

  • 27 · Net assets without donor restrictions

    beginning of year $2,564,419 · end of year $3,239,556

Mission and programs · 2024

Mission

A TEXAS NON-STOCK, NOT-FOR-PROFIT CORPORATION IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WAS ORGANIZED TO OWN AND OPERATE A 308 UNIT APARTMENT COMPLEX FOR LOW-INCOME PERSONS AND VERY LOW-INCOME PERSONS.

Activities or mission (Part I)

PROVIDES AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND VERY LOW-INCOME PERSONS.

  • PROVIDES AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND VERY LOW-INCOME PERSONS.

    Expenses $3,208,793 · Grants $150,000 · Revenue $3,885,997

As filed on the 2024 return.

Listed in Part VII

  • BRANT BABER

    PRES/TREAS/DIRECTOR

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

    Schedule J breakdown matched by us

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

  • SAMUEL CARNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • TIFFANY THEISS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KATHERINE KALINOWSKI

    VICE PRESIDENT/SECRETARY

    Total calculated
    $235,513
    From this org
    $0
    From related orgs
    $231,250
    Other
    $4,263
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

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

The filer's explanations (Part III)

PART II:
THE PRESIDENT (WHO ALSO IS A DIRECTOR) AND THE VICE PRESIDENT RECEIVE COMPENSATION ONLY FROM A RELATED EXEMPT ORGANIZATION, AMERICAN VILLAGE COMMUNITIES, INC., A VIRGINIA NONPROFIT CORPORATION AND SUPPORTING ORGANIZATION FOR TAXPAYER UNDER SEC 509(A)(3) OF THE IRC, BUT RECEIVES NO COMPENSATION FROM THE TAXPAYER.

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
202512979349301656

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