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← AVENUE COMMUNITY DEVELOPMENT COPORATION

Form 990 for tax year 2023

Filed by AVENUE COMMUNITY DEVELOPMENT COPORATION.

Totals

Total revenue
$10,964,102
Total expenses
$13,906,560
Contributions and grants received
$3,134,294
Grants paid
$756,617
Program service revenue
$7,733,258
Investment income
$723,690
Other revenue
-$627,140
Total assets, end of year
$87,241,602
Total liabilities, end of year
$64,405,768
Net assets or fund balances, end of year
$22,835,834
Program services expenses (Part IX)
$12,151,322
Management and general expenses
$1,179,835
Fundraising expenses
$575,403
Program service expenses (Part III)
$12,151,322

Program services were 87.4% 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.

  • 1e · Government grants (contributions)

    $744,590

  • 1f · All other contributions, gifts and grants

    $2,389,704

  • 2a · Program service revenue: RENTALS

    total $6,245,250 · related or exempt $6,245,250

  • 2b · Program service revenue: HOMEBUYER ASSISTANCE PROGRAM

    total $840,997 · related or exempt $840,997

  • 2c · Program service revenue: EDUCATION AND OTHER

    total $500,507 · related or exempt $500,507

  • 2d · Program service revenue: SUPPORTIVE SERVICES

    total $120,900 · related or exempt $120,900

  • 2e · Program service revenue: APARTMENT MANAGEMENT

    total $25,604 · related or exempt $25,604

  • 3 · Investment income

    total $89,841 · excluded $89,841

  • 7a · Gross sales of assets other than inventory

    other assets $1,170,000

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

    other assets $536,151

  • 7c · Gain or loss

    other assets $633,849

  • 7d · Net gain or loss

    total $633,849 · excluded $633,849

  • 8a · Fundraising events: gross income

    $226,578

  • 8b · Fundraising events: direct expenses

    $96,545

  • 8c · Net income from fundraising events

    total $130,033 · excluded $130,033

  • 10a · Gross sales of inventory

    $525,000

  • 10b · Cost of goods sold

    $494,714

  • 10c · Net income from sales of inventory

    total $30,286 · related or exempt $30,286

  • 11a · Other revenue: CELL TOWER RENTAL

    total $9,028 · unrelated business $9,028

  • 11b · Other revenue: INVESTMENT IN PARTNERSHIP

    total -$796,487 · related or exempt -$796,487

  • 11e · Other revenue, total

    -$787,459

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $728,261 · program services $728,261

  • 2 · Grants to domestic individuals

    total $28,356 · program services $28,356

  • 5 · Compensation of officers, directors and key employees

    total $676,237 · program services $464,513 · management and general $141,148 · fundraising $70,576

  • 7 · Other salaries and wages

    total $2,789,553 · program services $1,916,170 · management and general $582,252 · fundraising $291,131

  • 8 · Pension plan contributions

    total $80,866 · program services $55,548 · management and general $16,879 · fundraising $8,439

  • 9 · Other employee benefits

    total $207,296 · program services $142,394 · management and general $43,268 · fundraising $21,634

  • 10 · Payroll taxes

    total $370,966 · program services $254,820 · management and general $77,430 · fundraising $38,716

  • 11a · Fees: management

    total $164,685 · program services $113,124 · management and general $34,374 · fundraising $17,187

  • 11b · Fees: legal

    total $14,641 · program services $10,057 · management and general $3,056 · fundraising $1,528

  • 11c · Fees: accounting

    total $81,963 · program services $56,301 · management and general $17,108 · fundraising $8,554

  • 11g · Fees: other

    total $288,869 · program services $198,427 · management and general $60,294 · fundraising $30,148

  • 12 · Advertising and promotion

    total $48,895 · program services $33,586 · management and general $10,206 · fundraising $5,103

  • 13 · Office expenses

    total $333,424 · program services $229,032 · management and general $69,594 · fundraising $34,798

  • 14 · Information technology

    total $244,925 · program services $168,241 · management and general $51,122 · fundraising $25,562

  • 16 · Occupancy

    total $2,891,175 · program services $2,827,765 · management and general $42,273 · fundraising $21,137

  • 17 · Travel

    total $12,540 · program services $12,540

  • 19 · Conferences, conventions and meetings

    total $37,578 · program services $5,857 · management and general $30,831 · fundraising $890

  • 20 · Interest

    total $2,006,093 · program services $2,006,093

  • 22 · Depreciation, depletion and amortization

    total $1,713,841 · program services $1,713,841

  • 23 · Insurance

    total $961,554 · program services $961,554

  • 24a · Other expenses: SPECIAL PROJECTS

    total $219,715 · program services $219,715

  • 24b · Other expenses: LOSS ON INTEREST RATE S

    total $5,127 · program services $5,127

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,344,653 · end of year $4,810,166

  • 2 · Savings and temporary cash investments

    beginning of year $673,192 · end of year $2,159,784

  • 3 · Pledges and grants receivable

    beginning of year $980,681 · end of year $381,358

  • 4 · Accounts receivable

    beginning of year $7,845,331 · end of year $7,818,495

  • 7 · Other notes and loans receivable

    beginning of year $18,200,049 · end of year $20,075,181

  • 8 · Inventories for sale or use

    beginning of year $3,142,908 · end of year $3,216,817

  • 9 · Prepaid expenses and deferred charges

    beginning of year $687,042 · end of year $644,214

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

    $52,639,939

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

    $9,870,330

  • 10c · Land, buildings and equipment, net

    beginning of year $44,861,978 · end of year $42,769,609

  • 12 · Investments: other securities

    beginning of year $3,419,823 · end of year $3,419,543

  • 13 · Investments: program-related

    beginning of year $927,973 · end of year $1,487,286

  • 14 · Intangible assets

    beginning of year $94,350 · end of year $79,050

  • 15 · Other assets

    beginning of year $431,591 · end of year $380,099

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,163,042 · end of year $3,328,869

  • 19 · Deferred revenue

    beginning of year $531,193 · end of year $108,797

  • 23 · Secured mortgages and notes payable

    beginning of year $57,875,690 · end of year $60,927,198

  • 24 · Unsecured notes and loans payable

    beginning of year $35,777 · end of year $40,904

  • 27 · Net assets without donor restrictions

    beginning of year $24,008,869 · end of year $21,544,433

  • 28 · Net assets with donor restrictions

    beginning of year $995,000 · end of year $1,291,401

Mission and programs · 2023

Mission

AVENUE COMMUNITY DEVELOPMENT CORPOATION'S ("AVENUE") MISSION IS TO INVEST IN PEOPLE, HOMES AND COMMUNITIES TO ADVANCE EQUITY AND OPPORTUNITY FOR ALL HOUSTONIANS. AVENUE'S VISION IS FOR ALL HOUSTONIANS HAVE THE OPPORTUNITY TO LIVE IN QUALITY HOMES IN HEALTHY, VIBRANT, AND INCLUSIVE NEIGHBORHOODS TO ENSURE HOUSTON'S FUTURE AS A WORLD CLASS CITY.

Activities or mission (Part I)

AVENUE'S MISSION IS TO INVEST IN PEOPLE, HOMES AND COMMUNITIES TO ADVANCE EQUITY AND OPPORTUNITY FOR ALL HOUSTONIANS.

  • AFFORDABLE HOUSING PROGRAM SERVICES - EXPENDITURES RELATING TO THE PURCHASE AND DEVELOPMENT OF AFFORDABLE HOUSING FOR RENT AND SALES TO LOW INCOME AND MODERATE INCOME FAMILIES AND INDIVIDUALS AND IMPROVEMENTS TO EXISTING PROPERTIES. THIS ACTIVITY INCLUDED THE RENTAL, OPERATIONS AND SALE OF 869 MULTI-FAMILY UNITS LOCATED WITHIN 14 PROPERTIES, AND 35 SCATTERED SITE UNITS AND THE RENTAL OF SPACE IN AVENUE CENTER TO OTHER TAX EXEMPT ENTITIES.

    Expenses $9,467,623 · Revenue $5,504,653

  • COMMUNITY INITIATIVES PROGRAM SERVICES - SUPPORTED COMMUNITY BUILDING AND ENGAGEMENT, PROMOTED CIVIC ENGAGEMENT, CULTIVATED RESIDENT LEADERSHIP AND BROUGHT NEIGHBORS TOGETHER TO ADVOCATE FOR COMMUNITY IMPROVEMENTS. BY ENGAGING RESIDENTS, GOVERMENT AGENCIES, COMMUNITY ORGANIZATIONS, BUSINESSES AND OTHER STAKEHOLDERS, AVENUE HELPED RESIDENTS INCREASE PUBLIC AWARENESS AND SAFETY, BEAUTIFY THEIR NEIGHBORHOODS, PROMOTE HEALTH AND WELLNESS, IMPROVE EDUCATIONAL OUTCOMES, AND SUPPORT LOCAL ARTS AND CULTURE.

    Expenses $595,163 · Revenue $621,407

  • FAMILY ASSET BUILDING AND OTHER PROGRAMS - AVENUE PROMOTED HOMEOWNERSHIP; ASSISTED FAMILIES AND INDIVIDUALS TO OBTAIN HOMEOWNERSHIP AND IMPROVE THEIR FINANCIAL STABILITY THROUGH HOMEBUYER EDUCATION CLASSES, PRE-PURCHASE COUNSELING, POST PURCHASE COUNSELING & WORKSHOPS, AND FORECLOSURE INTERVENTION COUNSELING. PROVIDED HOMEBUYER EDUCATION TO 748 HOUSEHOLDS, CREATED 260 NEW HOMEOWNERS, AND ASSISTED 67 HOUSEHOLDS IN OBTAINING A POSITIVE OUTCOME PRESERVING THEIR HOMES. IN ADDITION PROVIDED FINANCIAL ASSISTANCE TO 51 HOUSEHOLDS IN THE FORM OF DOWN PAYMENT ASSISTANCE.

    Expenses $2,088,536 · Grants $756,617 · Revenue $840,997

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Lawler

    CEO

    Total calculated
    $209,980
    From this org
    $173,014
    From related orgs
    $0
    Other
    $36,966
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $173,014
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,966
    Filer's total
    $209,980

  • Marie D Arcos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Michael Tate Barkley

    VP, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Janis Brackett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Jamie Bryant

    VP, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Richard Campo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Alexandra Clements

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Jesus Deanda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Donna Espadas

    TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Winnie Kwok

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Cathryn Martinez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • John Price

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Cassandra Silvernail

    PRESIDENT, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Viola Solomon

    SEC, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Frances Valdez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Elgin Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • David Barron

    CONTROLLER

    Total calculated
    $114,486
    From this org
    $114,025
    From related orgs
    $0
    Other
    $461
    Hours/week
    39 + 1 related

  • Karen Briggs Gwin

    CFO

    Total calculated
    $47,577
    From this org
    $47,577
    From related orgs
    $0
    Other
    $0
    Hours/week
    39 + 1 related

  • Daniel Ortiz

    VP, DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Jose Sanchez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Meena Rupani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Darla Berry

    VP, FUND DEVELOPMENT

    Total calculated
    $119,180
    From this org
    $108,760
    From related orgs
    $0
    Other
    $10,420
    Hours/week
    39 + 1 related

  • Brenda Bocanegra

    VP, HUMAN RESOURCES

    Total calculated
    $134,115
    From this org
    $112,905
    From related orgs
    $0
    Other
    $21,210
    Hours/week
    39 + 1 related

  • Jason Holoubek

    DIRECTOR, ACQUISITIONS/REHABILIT

    Total calculated
    $116,364
    From this org
    $106,301
    From related orgs
    $0
    Other
    $10,063
    Hours/week
    39 + 1 related

  • Tyler Fuller

    FORMER VP

    Total calculated
    $116,206
    From this org
    $108,715
    From related orgs
    $0
    Other
    $7,491
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $108,715
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,491
    Filer's total
    $116,206

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

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.

  • AVENUE DEVELOPMENT LLC

    CONSTRUCTION · TX · income $86,492 · assets $2,592,360

    Directly controlled by TAXPAYER

  • AVENUE LAS BRISAS APARTMENTS LLC

    APARTMENTS · TX · income $731,450 · assets $2,086,060

    Directly controlled by TAXPAYER

  • AVENUE JEFF DAVIS LLC

    APARTMENTS · TX · income $369,859 · assets $3,248,513

    Directly controlled by TAXPAYER

  • AVENUE OA II LLC

    AFFORDABLE HOUSING · TX · income $1,012,130 · assets $5,901,003

    Directly controlled by TAXPAYER

  • AVENUE REDWOOD HEIGHTS LLC

    AFFORDABLE HOUSING · TX · income $911,590 · assets $5,139,625

    Directly controlled by TAXPAYER

  • AVENUE GALE WINDS LLC

    AFFORDABLE HOUSING · TX · income $210,194 · assets $3,248,513

    Directly controlled by TAXPAYER

  • AVENUE 2505 WASHINGTON LLC

    AFFORDABLE HOUSING · TX · income $1,082,622 · assets $2,178,143

    Directly controlled by TAXPAYER

  • AVENUE COMMUNITY CAPITAL LLC

    LENDING · TX · income $909,340 · assets $131,399

    Directly controlled by TAXPAYER

  • AVENUE ON 34TH DEVELOPMENT LLC

    DEVELOPMENT · TX · income $0 · assets $1,797,616

    Directly controlled by TAXPAYER

  • AVENUE CASITA NOAH 1 LLC

    AFFORDABLE HOUSING · TX · income $770,946 · assets $5,314,859

    Directly controlled by TAXPAYER

  • AVENUE ON 34TH GP LLC

    REAL ESTATE · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • AVENUE TERRACES GP LLC

    REAL ESTATE · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • AVENUE STATION GP LLC

    REAL ESTATE · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • AVENUE STATION DEVELOPMENT LLC

    DEVELOPMENT · TX · income -$831,776 · assets $659,143

    Directly controlled by TAXPAYER

  • AVENUE TERRACES DEVELOPMENT LLC

    DEVELOPMENT · TX · income $25,604 · assets $25,435

    Directly controlled by TAXPAYER

  • IRVINGTON COURT GP LLC

    REAL ESTATE · TX · income $0 · assets -$105,118

    Directly controlled by TAXPAYER

  • IRVINGTON DEVELOPMENT LLC

    REAL ESTATE · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • REALTY BY AVENUE LLC

    REAL ESTATE · TX · income $23,646 · assets $28,657

    Directly controlled by TAXPAYER

  • AVENUE FULTON & JAMES LLC

    AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • AVENUE PROPERTY MANAGEMENT LLC

    REAL ESTATE · TX · income $0 · assets $0

    Directly controlled by TAXPAYER

  • AVENUE LEELAND STREET APARTMENTS LLC

    AFFORDABLE HOUSING · TX · income $291,280 · assets $3,411,922

    Directly controlled by TAXPAYER

  • AVENUE MANGUM OAKS APARTMENTS LLC

    AFFORDABLE HOUSING · TX · income $341,379 · assets $3,029,269

    Directly controlled by TAXPAYER

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423199349309587

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