American Opportunity Foundation
- Assets
- $43.7m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 01/1985
- Data as of
- 06/2021
- EIN
- 81-5278581
Organization Overview
American Opportunity Foundation is located in Atlanta, GA. The organization was established in 1985. 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 5 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $6.6m during the year ending 06/2021. While expenses have increased by 20.4% per year over the past 5 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, OPERATE AND SELL AFFORDABLE HOUSING FOR LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING TWO MULTIFAMILY APARTMENT COMPLEXES TOTALLING 429 UNITS FOR MODERATE TO LOW-INCOME PERSONS OR FAMILIES.
OPERATING TWO MULTIFAMILY APARTMENT COMPLEXES TOTALLING 429 UNITS FOR MODERATE TO LOW-INCOME PERSONS OR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip J Kennedy President, Trustee | OfficerTrustee | 1 | $0 |
Kathryn T Walker Vice President, Trustee | OfficerTrustee | 1 | $0 |
Robert R Derrick Trustee | Trustee | 0.2 | $0 |
William F Fisher III Trustee | Trustee | 0.2 | $0 |
Douglas Trivers Trustee | Trustee | 0.2 | $0 |
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 | $5,650,367 |
| Investment income | $848 |
| 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 | $5,651,215 |
| 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 | $565,062 |
| Pension plan accruals and contributions | $14,063 |
| Other employee benefits | $78,444 |
| Payroll taxes | $38,450 |
| Fees for services: Management | $260,693 |
| Fees for services: Legal | $7,144 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,000 |
| Advertising and promotion | $24,784 |
| Office expenses | $31,964 |
| Information technology | $32,663 |
| Royalties | $0 |
| Occupancy | $229,633 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,747,591 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,206,588 |
| Insurance | $681,812 |
| All other expenses | $28,572 |
| Total functional expenses | $6,621,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,582,368 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,492 |
| 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 | $431,617 |
| Net Land, buildings, and equipment | $38,608,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,008,981 |
| Other assets | $2,040,682 |
| Total assets | $43,727,797 |
| Accounts payable and accrued expenses | $2,806,430 |
| Grants payable | $0 |
| Deferred revenue | $109,331 |
| 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 | $41,227,724 |
| Unsecured mortgages and notes payable | $7,000,000 |
| Other liabilities | $1,259,556 |
| Total liabilities | $52,403,041 |
| Net assets without donor restrictions | -$8,675,244 |
| 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 | $43,727,797 |
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