Foundation Communities, Group Return in Austin, Texas (TX)

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Foundation Communities, Group Return
Employer Identification Number (EIN)742678601
Name of OrganizationFoundation Communities
Secondary NameGroup Return
Address3036 S 1st St Ste 200, Austin, TX 78704-6382
ActivitiesDescribed in section 509(a)(2) of the Code, Low and moderate income housing
SubsectionCharitable Organization
Ruling Date05/1990
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 - Group return
Asset Amount$37,675,843
Amount of Income$13,292,485
Form 990 Revenue Amount$13,292,485
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Development, Construction, Management


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Amount of income in 2010: $13,292,485
This organization: 

 $13,292,485
Other organizations performing similar types of work: 

 $876,537

Assets in 2010: $37,675,843
Foundation Communities, Group Return: 

 $37,675,843
Other organizations performing similar types of work: 

 $2,682,378

Expenses in 2007: $12,668,325
Foundation Communities, Group Return: 

 $12,668,325
Other organizations performing similar types of work: 

 $966,237

Income to expenses ratio in 2007: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 96.1%
Foundation Communities, Group Return: 

 96.1%
Other organizations performing similar types of work: 

 90.8%

Grants share in income in 2007: 4.3%
This organization: 

 4.3%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$8,979,549$10,065,253$10,327,345$10,460,337$10,507,827$11,581,377$11,297,617$11,606,605
Contributions, gifts, grants, and similar amounts received$192,904$771,726$1,091,506$1,411,966$945,954$1,147,596$1,205,398$495,099
Contributions to donor advised funds$0$0
Direct public support$0$166,860$363,330$462,476$945,954$263,529$0$0
Indirect public support$192,904$604,866$728,176$949,490$0$866,924$1,205,398$495,099
Government contributions (grants)$0$0$0$0$0$17,143$0$0
Program service revenue including government fees and contracts$8,608,122$9,185,600$9,181,219$9,008,086$9,536,190$10,335,344$9,971,634$10,660,809
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$178,523$107,927$54,620$40,285$25,683$68,894$120,585$450,697
Dividends and interest from securities$0$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$29,543$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$2,000,000$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$1,970,457$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$11,583,984$9,705,671$10,048,294$10,165,747$10,795,243$11,745,693$11,931,932$12,668,325
Program services$7,842,984$8,920,671$9,219,294$9,656,747$10,121,243$11,096,843$11,306,932$12,168,325
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$3,741,000$785,000$829,000$509,000$674,000$648,850$625,000$500,000
Net assets or fund balances at end of year$2,174,728$2,534,310$3,335,861$3,630,451$3,173,184$3,008,868$2,374,553$1,312,833
Excess or (deficit) for the year$-2,604,435$359,582$279,051$294,590$-287,416$-164,316$-634,315$-1,061,720
Net assets or fund balances at beginning of year$4,779,163$2,174,728$2,534,310$3,335,861$3,630,451$3,173,184$3,008,868$2,374,553
Other changes in net assets or fund balances$0$0$522,500$0$-169,851$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$12,168,325$12,168,325$0$0
Grants paid from donor advised funds$0
Other grants and allocations$250,546
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$2,072,187$2,072,187$0$0
Pension plan contributions not included above$47,754$47,754$0$0
Employee benefits not included above$258,467$258,467$0$0
Payroll taxes$184,108$184,108$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$21,933$21,933$0$0
Legal fees$21,267$21,267$0$0
Supplies$29,904$29,904$0$0
Telephone$82,067$82,067$0$0
Postage and shipping$12,595$12,595$0$0
Occupancy$1,024,788$1,024,788$0$0
Equipment rental and maintenance$2,398$2,398$0$0
Printing and publications$9,380$9,380$0$0
Travel$3,331$3,331$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$2,641,422$2,641,422$0$0
Depreciation, depletion, etc.$2,323,333$2,323,333$0$0
Other expenses not covered above$3,182,845$3,182,845$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$30,589,329$31,266,468$33,370,965$35,612,128$35,872,234$37,210,227$38,716,273$37,954,596
Cash - non-interest-bearing$0$0$674,346$500,761$1,007,172$1,101,034$976,969$233,075
Savings and temporary cash investments$1,788,269$2,102,448$1,868,463$1,330,418$1,655,143$1,586,494$2,354,197$2,765,939
Accounts receivable less allowance for doubtful accounts$24,993$106,776$175,902$669,992$331,554$746,498$528,289$643,372
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,123,408$1,943,951$1,967,951$1,905,877$2,481,062$2,883,553$2,745,562$3,218,364
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$38,010$97,544$133,932$172,357$134,249$64,206$113,445$106,507
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$1,056,540$0$1,056,540$0$0$1,056,144$1,056,144
Land, buildings, and equipment less accumulated depreciation$24,350,961$24,239,124$25,831,373$28,042,678$27,555,930$27,257,474$29,116,190$29,185,694
Other assets, including program-related investments$3,263,688$1,720,085$2,718,998$1,933,505$2,707,124$3,570,968$1,825,477$745,501
Total liabilities$28,414,601$28,732,158$30,035,104$31,981,677$32,699,050$34,201,359$36,341,720$36,641,763
Accounts payable and accrued expenses$358,527$140,721$210,388$292,904$757,958$330,180$1,157,881$1,261,194
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$20,163$16,031$12,806$62,773$53,174$113,639$83,869$70,852
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$27,472,475$27,807,152$28,549,444$29,788,628$29,950,311$31,078,579$31,481,736$30,819,646
Other liabilities$563,436$768,254$1,262,466$1,837,372$1,937,607$2,678,961$3,618,234$4,490,071
Total liabilities and net assets/fund balances$30,589,329$31,266,468$33,370,965$35,612,128$35,872,234$37,210,227$38,716,273$37,954,596
Total net assets or fund balances$2,174,728$2,534,310$3,335,861$3,630,451$3,173,184$3,008,868$2,374,553$1,312,833
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$8,979,549$10,065,253$10,327,345$10,460,337$10,507,827$0$11,297,617$11,606,605
Total revenue, gains, and other support per audited financial statements$8,979,549$10,065,253$10,327,345$10,460,337$10,507,827$0$14,871,568$11,606,605
Other expenses$0$0$0$0$0$0$7,062,608$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$7,062,608$0
Other revenue$0$0$0$0$0$0$3,488,657$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$3,488,657$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$11,583,984$9,705,671$10,048,294$10,165,747$10,795,243$0$11,931,932$12,668,325
Total expenses and losses per audited financial statements$11,583,984$9,705,671$10,048,294$10,165,747$10,795,243$0$12,102,272$12,668,325
Other revenue$0$0$0$0$0$0$3,239,673$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$3,239,673$0
Other expenses$0$0$0$0$0$0$3,069,333$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$3,069,333$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings14
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$450,697$10,660,809
Program service revenue
Program service revenue 1000000$000$0$497,491
Program service revenue 2000000$000$0$10,163,318
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$450,697$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
74297322079%$-141$366
205368522100%$-15$985
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000200120022003200420052006
Total$7,723,153$8,979,549$9,958,477$10,258,219$9,990,247$9,506,281$11,166,433$11,472,347
Gifts, grants, and contributions received$205,040$192,904$771,726$1,091,506$1,411,966$945,954$1,206,376$1,205,398
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$7,342,230$8,608,122$9,078,824$9,112,093$8,537,996$8,534,644$9,861,620$10,189,843
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$175,883$178,523$107,927$54,620$40,285$25,683$68,894$77,106
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$29,543$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1American Opportunity For Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1992-10$225,314,751
2Maple Avenue Economic Development Corporation Of Dallas4739 Maple Ave, Dallas, TX 75219-1004TX1983-09$32,571,776
3American Agape Foundation Inc, Agape Irving Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$22,531,321
4Housing And Community Services Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-10$17,422,812
5Foundation Communities, Group Return3036 S 1st St Ste 200, Austin, TX 78704-6382TX1990-05$13,292,485
6Commonwealth Housing Corporation1530 Nw Crossroads Apt 1224, San Antonio, TX 78251-2171TX1999-03$11,841,613
7Housing Initiatives Corp VAustin, TX 78749TX$10,350,992
8Dallas City Homes Inc729 N Bishop Ave, Dallas, TX 75208-4340TX1990-09$4,356,742
9American Agape Foundation Inc, Jackson County Fndtn For Rtmt & Hsg7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$3,004,356
10American Agape Foundation Inc, Agape Leander Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$2,544,812
11Texas Inter-Faith Housing Corporati On3131 W Alabama St Ste 300, Houston, TX 77098-2038TX1968-02$2,066,397
12San Antonio Alternative Housing Corporation No 61215 S Trinity St, San Antonio, TX 78207-6143TX1998-11$2,052,670
13American Agape Foundation Inc, Agape Round Rock Housing Inc7334 Blanco Rd Ste 200, Sanm Antonio, TX 78216-4933TX1989-01$1,993,892
14American Agape Foundation Inc, Agape Metro Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$1,888,253
15San Antonio Housing Development Corporation, Low Income HousingPO BOX 1300, San Antonio, TX 78295-1300TX1992-05$1,393,166
16Longview Habitat For Humanity Inc300 W Tyler St, Longview, TX 75601-6236TX1985-11$883,174
17Jaycom Apartment Charitable Trust10801 Vista Alegre Dr, El Paso, TX 79935-3606TX1971-05$868,818
18Habitat For Humanity International Inc, Kerr County HfhPO BOX 2140, Kerrville, TX 78029-2140TX1987-01$461,287
19Center For Housing Resources Inc1402 Corinth St Ste 221, Dallas, TX 75215-2111TX1985-10$401,318
20Pyramid Residential Community Corporation12401 S Post Oak Road, Houston, TX 77045-2020TX1999-01$253,896
21Tg 105 Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$36,606
22San Antonio Alternative Housing Corporation No 71215 S Trinity St, San Antonio, TX 78207-6143TX1997-03$36,340
23American Agape Foundation Inc, Agape Community Housing Foundation7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$19,621
24Housing Assistance Foundation Inc1800 Valley View Ln 125, Dallas, TX 75234-8922TX1995-03$400
25Tg 106 Inc, West Ave8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2001-09$2,523,077
26General Assembly Of The Christian Church Disciples Of Christ Inc, Fowler Christian Apts Inc105 Juliette Fowler, Dallas, TX 75214TX1951-07$2,155,803
27Midland Visions 20001212 E Wadley, Midland, TX 79705-5743TX1995-05$1,277,198
28Louis Manor Charitable Trust1390 Broadway St, Beaumont, TX 77701-2108TX1973-08$1,164,439
29Huntsville Memorial Housing, Parkview Place1440 Lake Front Cir Ste 110, The Woodlands, TX 77380-3607TX1983-10$463,362
30Inez Tims Apartments Inc, 49800 North Chestnut Street, Lufkin, TX 75901-3231TX1982-08$419,113
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas9
Arizona7
California118
Colorado15
Connecticut18
District of Columbia5
Delaware5
Florida40
Georgia22
Hawaii2
Iowa7
Idaho2
Illinois33
Indiana13
Kansas4
Kentucky12
Louisiana13
Massachusetts41
Maryland22
Maine6
Michigan31
Minnesota31
Missouri12
Mississippi3
Montana3
North Carolina24
North Dakota1
Nebraska3
New Hampshire7
New Jersey15
New Mexico3
Nevada6
New York109
Ohio32
Oklahoma2
Oregon11
Pennsylvania35
Rhode Island6
South Carolina4
South Dakota2
Tennessee21
Texas44
Utah6
Virginia25
Vermont8
Washington15
Wisconsin16
West Virginia7
International2
Total882
All affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
CentralFoundation Communities Inc3036 S 1st Street 200, Austin, TX 78704-6352TX1990-05$9,991,987
SubordinateFoundation Communities, Group Return3036 S 1st St Ste 200, Austin, TX 78704-6382TX1990-05$13,292,485
Number of affiliated organizations
Texas2
Total2

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