Foundation Communities
- Assets
- $93.5m
- Revenue
- $25.9m
- Investments
- $0.0
- Employees
- 823
- Location
- Austin, TX
- Founding
- 05/1990
- Data as of
- 12/2023
- 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 12/2023, Foundation Communities employed 823 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 12/2023, Foundation Communities generated $25.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $26.2m during the year ending 12/2023. While expenses have increased by 3.9% 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
2023
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.(2,874 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 |
|---|---|---|---|
Walter Moreau Exec. Director | Officer | 40 | $0 |
Vicki Mcdonald Chief Reo | Officer | 40 | $0 |
Ann Clift CFO | Officer | 40 | $0 |
Marisela Montoya Cpo | Officer | 40 | $0 |
Sabrina Butler Dir. R.e. Dev. | 40 | $0 | |
Kathleen Peschel Cpao | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
All American Roofing Roofing Installations | 12/30/23 | $2,196,597 |
3e1d Services Llc Janitorial | 12/30/23 | $1,001,378 |
Complete Landscapes Inc Landscape Svc | 12/30/23 | $577,201 |
Ijanitorial Janitorial Svc. | 12/30/23 | $527,529 |
Wilson Plumbing Plumbing Repairs/install | 12/30/23 | $535,829 |
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 | $2,173,383 |
| Noncash contributions included in lines 1a–1f | $2,163,383 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,173,383 |
| Total Program Service Revenue | $23,509,687 |
| Investment income | $233,815 |
| 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 | $25,916,885 |
| 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 | $3,469,533 |
| Pension plan accruals and contributions | $143,911 |
| Other employee benefits | $422,238 |
| Payroll taxes | $277,572 |
| Fees for services: Management | $5,559,624 |
| Fees for services: Legal | $36,939 |
| Fees for services: Accounting | $30,906 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $790,972 |
| Advertising and promotion | $95,420 |
| Office expenses | $51,349 |
| Information technology | $6,335 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,245,056 |
| Payments to affiliates | $830,000 |
| Depreciation, depletion, and amortization | $5,870,596 |
| Insurance | $731,935 |
| All other expenses | $243,110 |
| Total functional expenses | $26,233,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,963,479 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $205,049 |
| 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 | $88,578 |
| Net Land, buildings, and equipment | $78,119,995 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,092 |
| Other assets | $6,661,493 |
| Total assets | $93,469,686 |
| Accounts payable and accrued expenses | $3,253,584 |
| Grants payable | $0 |
| Deferred revenue | $273,178 |
| 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 | $54,961,945 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $65,154,181 |
| Total liabilities | $123,642,888 |
| Net assets without donor restrictions | -$31,798,202 |
| 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 | $93,469,686 |