Foundation Communities
- Assets
- $78.2m
- Revenue
- $25.7m
- Investments
- $0.0
- Employees
- 721
- Location
- Austin, TX
- Founding
- 05/1990
- Data as of
- 12/2021
- EIN
- 74-2678601
Organization Overview
Foundation Communities is located in Austin, TX. The organization was established in 1990. 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. As of 12/2021, Foundation Communities employed 721 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Foundation Communities 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 12/2021, Foundation Communities generated $25.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $24.4m during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 6 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
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING & SUPPORTIVE SERVICESIMPROVE OVERALL COMMUNITY STABILITY BY PROVIDING AFFORDABLE HOUSING ALTERNATIVES FOR LOW INCOME RESIDENTS AND EDUCATIONAL SERVICES TO EXPAND OPPORTUNITIES FOR THEM.(2,786 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Clements Treasurer | OfficerTrustee | 5 | $0 |
Jewel Arrington Vice Chair | OfficerTrustee | 5 | $0 |
Yvette Boatwright Chair | OfficerTrustee | 5 | $0 |
David Hart Board Secretary | OfficerTrustee | 5 | $0 |
Adrianna Cuellar Rojas Chair | OfficerTrustee | 5 | $0 |
Julian Huerta Deputy Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alpha Barnes Real Estate Apt. Management | 12/30/21 | $109,630 |
3e1d Services Llc Janitorial | 12/30/21 | $591,492 |
Central Texas Refuse Llc Trash Removal | 12/30/21 | $185,399 |
Ijanitorial Janitorial Svc. | 12/30/21 | $111,773 |
Complete Landscapes Inc Landscape Services | 12/30/21 | $297,076 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,100,453 |
| Government grants | $1,772,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $3,872,759 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,872,759 |
| Total Program Service Revenue | $21,757,708 |
| Investment income | $59,487 |
| 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 | $25,689,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,204,812 |
| Pension plan accruals and contributions | $101,688 |
| Other employee benefits | $252,542 |
| Payroll taxes | $330,609 |
| Fees for services: Management | $2,148,241 |
| Fees for services: Legal | $27,770 |
| Fees for services: Accounting | $60,297 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,317,520 |
| Advertising and promotion | $76,151 |
| Office expenses | $48,804 |
| Information technology | $6,259 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,062,536 |
| Payments to affiliates | $1,280,000 |
| Depreciation, depletion, and amortization | $5,491,033 |
| Insurance | $517,260 |
| All other expenses | $522,790 |
| Total functional expenses | $24,364,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,446,707 |
| Savings and temporary cash investments | $1,378,615 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $274,582 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,430,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,375 |
| Net Land, buildings, and equipment | $65,111,043 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,712 |
| Other assets | $6,496,906 |
| Total assets | $78,215,940 |
| Accounts payable and accrued expenses | $1,877,942 |
| Grants payable | $0 |
| Deferred revenue | $521,104 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $53,095,390 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,920,498 |
| Total liabilities | $107,414,934 |
| Net assets without donor restrictions | -$30,823,994 |
| Net assets with donor restrictions | $1,625,000 |
| 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 | $78,215,940 |
Grants Recieved
Over the last fiscal year, we have identified 48 grants that Foundation Communities has recieved totaling $1,985,873.
| Awarding Organization | Amount |
|---|---|
Michael & Susan Dell Foundation Austin, TX PURPOSE: EMPOWERING CHILDREN AND FAMILIES TO ACHIEVE EDUCATIONAL SUCCESS AND FINANCIAL STABILITY | $666,000 |
Genevieve And Ward Orsinger Foundation San Antonio, TX PURPOSE: STRENGTHENING THE FAMILY UNIT/DUALGEN/COVID 19 | $200,000 |
Genevieve And Ward Orsinger Foundation San Antonio, TX PURPOSE: 2022 STRENGTHENING THE FAMILY UNIT/DUAL GEN INITIATIVE | $200,000 |
Michael & Susan Dell Foundation Austin, TX PURPOSE: BOLSTERING REENGAGEMENT EFFORTS IN LOCAL COMMUNITIES DURING COVID-19 | $125,000 |
Greater Texas Foundation Bryan, TX PURPOSE: TO SUPPORT TRANSFER, TRANSITION, AND ADVISING THROUGHOUT AUSTIN AND THE CENTRAL TEXAS REGION. | $120,833 |
Madrono Foundation Denver, CO PURPOSE: GENERAL SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |