American Opportunity Foundation
- Assets
- $46.4m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- Data as of
- 12/2023
- EIN
- 87-3241481
Organization Overview
American Opportunity Foundation is located in Atlanta, GA. 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 12/2023, American Opportunity Foundation generated $4.4m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $7.9m during the year ending 12/2023. While expenses have increased by 14.0% per year over the past 2 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
TO DEVELOP, ACQUIRE, CONSTRUCT, OWN, OPERATE OR OTHERWISE SUPPORT AFFORDABLE HOUSING TO BE OCCUPIED BY PERSONS OR FAMILIES OF LOW OR MODERATE INCOME AND/OR ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A 150-UNIT APARTMENT COMPLEX AND A 220-UNIT APARTMENT COMPLEX FOR LOW-INCOME INDIVIDUALS OR FAMILIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip J Kennedy President And Treasurer | OfficerTrustee | 2 | $0 |
Kathryn Walker VP And Secretary | OfficerTrustee | 5 | $0 |
William Fisher III Trustee | Trustee | 0.2 | $0 |
Sara Fay Officer | OfficerTrustee | 0.2 | $0 |
Alan Ferguson Trustee | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Georgia Security Officers Inc Security | 12/30/23 | $478,598 |
Hsi Management Inc Management | 12/30/23 | $164,457 |
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 | $4,354,441 |
| Investment income | $0 |
| 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 | $4,354,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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 | $635,387 |
| Pension plan accruals and contributions | $2,102 |
| Other employee benefits | $17,167 |
| Payroll taxes | $45,017 |
| Fees for services: Management | $164,457 |
| Fees for services: Legal | $20,082 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $43,646 |
| Office expenses | $61,240 |
| Information technology | $62,455 |
| Royalties | $0 |
| Occupancy | $530,527 |
| Travel | $382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,280,241 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,650,511 |
| Insurance | $269,073 |
| All other expenses | $61,089 |
| Total functional expenses | $7,866,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,202 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,832 |
| 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 | $231,405 |
| Net Land, buildings, and equipment | $42,541,597 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,878,743 |
| Other assets | $1,568,122 |
| Total assets | $46,429,901 |
| Accounts payable and accrued expenses | $1,178,673 |
| Grants payable | $0 |
| Deferred revenue | $510,687 |
| Tax-exempt bond liabilities | $49,401,400 |
| 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 | $1,124,669 |
| Total liabilities | $52,215,429 |
| Net assets without donor restrictions | -$5,785,528 |
| 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 | $46,429,901 |