American Opportunity Foundation
- Assets
- $34.6m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 01/1985
- Data as of
- 06/2021
- EIN
- 58-2484113
Organization Overview
American Opportunity Foundation is located in Atlanta, GA. The organization was established in 1985. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. 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 06/2021, American Opportunity Foundation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $7.6m during the year ending 06/2021. While expenses have increased by 14.7% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WAS ORGANIZED TO ACQUIRE, REHABILITATE, AND OPERATE APARTMENT COMPLEXES FOR LOW-INCOME, ELDERLY, AND/OR MENTALLY OR PHYSICALLY DISABLED PERSONS OR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF TWO APARTMENT COMPLEXES FOR LOW-INCOME AND/OR MENTALLY OR PHYSICALLY DISABLED PERSONS OR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip J Kennedy Treasurer, Trustee | OfficerTrustee | 1 | $0 |
Kathryn T Walker Trustee, Secretary | OfficerTrustee | 1 | $0 |
Gabrielle Miller Trustee | Trustee | 0.2 | $0 |
Trudi Taylor Trustee | Trustee | 0.2 | $0 |
Natalie Breault Trustee | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $5,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,667,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $553,914 |
| Pension plan accruals and contributions | $15,571 |
| Other employee benefits | $41,371 |
| Payroll taxes | $44,158 |
| Fees for services: Management | $225,637 |
| Fees for services: Legal | $8,429 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,000 |
| Advertising and promotion | $13,896 |
| Office expenses | $34,822 |
| Information technology | $40,058 |
| Royalties | $0 |
| Occupancy | $1,211,810 |
| Travel | $362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,501 |
| Interest | $3,351,619 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,025,496 |
| Insurance | $245,850 |
| All other expenses | $0 |
| Total functional expenses | $7,632,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193,370 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,521 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,876 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $503,536 |
| Other assets | $2,667,443 |
| Total assets | $34,585,201 |
| Accounts payable and accrued expenses | $100,909 |
| Grants payable | $0 |
| Deferred revenue | $123,624 |
| Tax-exempt bond liabilities | $30,670,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,893,415 |
| Total liabilities | $44,787,948 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$10,202,747 |