American Opportunity Foundation
- Assets
- $49.7m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Huntington Beach, CA
- Founding
- 01/1985
- Data as of
- 12/2022
- EIN
- 33-0741689
Organization Overview
American Opportunity Foundation is located in Huntington Beach, CA. The organization was established in 1985. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, American Opportunity Foundation employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. American Opportunity Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, American Opportunity Foundation generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $7.0m during the year ending 12/2022. While expenses have increased by 18.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, American Opportunity Foundation has awarded 22 individual grants totaling $5,142,460. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE QUALITY AFFORDABLE HOUSING FOR MODERATE TO LOW INCOME HOUSEHOLDS AND THE ELDERLY THROUGHOUT ALASKA, ARIZONA, CALIFORNIA, OREGON, ILLINOIS, AND WASHINGTON STATE BY THE ACQUISITION, REHABILITATION, OPERATION, AND PRESERVATION OF AFFORDABLE MULTIFAMILY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET MANAGEMENT AND OVERSIGHT OF APARTMENT COMPLEXES FINANCED THROUGH VARIOUS TAX CREDITS AND OTHER LENDING AGENCIES, RENTED TO LOW AND VERY LOW INCOME RESIDENTS, ALONG WITH SOME SOCIAL PROGRAMS.
CONSULTING AND DEVELOPER SERVICES PROVIDED TO ORGANIZATIONS RELATED TO THE ACQUISITION, REHABILITATION, AND CONSTRUCTION OF VARIOUS MULTIFAMILY AFFORDABLE HOUSING COMPLEXES TO BE RENTED TO OR USED BY LOW INCOME OR VERY LOW INCOME RESIDENTS.
120-UNIT LOW INCOME APARTMENT COMPLEX
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Do-Khanh Trustee | Trustee | 0.2 | $0 |
Steve Jones Trustee, Assistant Secreta | OfficerTrustee | 0.2 | $0 |
Kathryn T Walker President, Executive VP | OfficerTrustee | 10 | $0 |
Ried Schott Trustee | Trustee | 0.2 | $0 |
William P Fisher III Trustee | Trustee | 0.2 | $0 |
Sharon Tran Secretary, VP Of Operation | Officer | 40 | $192,258 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,085,778 |
| Investment income | $252,296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $688 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,338,762 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $362,243 |
| Grants and other assistance to domestic individuals. | $7,953 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $787,052 |
| Compensation of current officers, directors, key employees. | $55,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $491,108 |
| Pension plan accruals and contributions | $26,230 |
| Other employee benefits | $56,382 |
| Payroll taxes | $61,299 |
| Fees for services: Management | $66,022 |
| Fees for services: Legal | $74,477 |
| Fees for services: Accounting | $36,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,000 |
| Fees for services: Other | $143,013 |
| Advertising and promotion | $16,886 |
| Office expenses | $59,770 |
| Information technology | $16,433 |
| Royalties | $0 |
| Occupancy | $318,440 |
| Travel | $52,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,682 |
| Interest | $1,473,409 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $823,334 |
| Insurance | $54,126 |
| All other expenses | $329,020 |
| Total functional expenses | $6,970,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,360,670 |
| Savings and temporary cash investments | $1,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,152,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,684,248 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,372 |
| Net Land, buildings, and equipment | $33,964,835 |
| Investments—publicly traded securities | $5,363,998 |
| Investments—other securities | $0 |
| Investments—program-related | $297,299 |
| Intangible assets | $62,791 |
| Other assets | $3,767,132 |
| Total assets | $49,688,029 |
| Accounts payable and accrued expenses | $1,254,772 |
| Grants payable | $0 |
| Deferred revenue | $27,915 |
| Tax-exempt bond liabilities | $36,865,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $347,276 |
| Total liabilities | $39,794,963 |
| Net assets without donor restrictions | $9,893,066 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,688,029 |
Grants Awarded
Over the last fiscal year, American Opportunity Foundation has awarded $332,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE AMERICAN OPPORTUNITY FOUNDATION INC PURPOSE: SUPPORT OF MODERATE-TO-LOW INCOME HOUSING FOR FAMILIES AND THE ELDERLY. | $240,000 |
LONG BEACH CITY COLLEGE FOUNDATION PURPOSE: COLLEGE SCHOLARSHIP PROGRAM | $18,000 |
CITY FABRICK PURPOSE: COMMERCIAL REAL ESTATE CONVERSION TO AFFORDABLE HOUSING | $10,000 |
PANZA DBA QUIXOTE COMMUNITIES PURPOSE: HOUSING AND SUPPORT FOR PEOPLE EXPERIENCING HOMELESSNESS | $14,500 |
COMMUNITY ENGAGEMENT INC PURPOSE: SUPPORT OF LOW-INCOME COMMUNITIES | $50,000 |