Foundation Communities Inc

Organization Overview

Foundation Communities Inc 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 Inc employed 721 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Foundation Communities Inc 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 Inc generated $44.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $25.5m during the year ending 12/2021. While expenses have increased by 9.6% 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.

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

OPENING DOORS TO HOMES - AFFORDABLE HOUSING PLUS SUPPORTIVE SERVICESIMPROVE COMMUNITY STABILITY BY PROVIDING AFFORDABLE HOUSING FOR LOW INCOME RESIDENTS(3,645 UNITS AT 25 AFFORDABLE HOUSING COMMUNITIES IN AUSTIN, DALLAS-FORT WORTH) PURSUED NEW ACQUISITIONS OF AFFORDABLE HOUSING. CASE MANAGERS PROVIDE SUPPORT TO 172 FAMILIES AT OR BELOW 30% MEDIAN FAMILY INCOME(CHI PROGRAM) AND 859 INDIVIDUALS LIVING IN OUR SRO COMMUNITIES, 50% OF WHOM WERE FORMERLY HOMELESS. CASE MANAGEMENT SUPPORTS PROMOTE HOUSING STABILITY, PHYSICAL AND MENTAL HEALTH WELL-BEING. SERVICES INCLUDE ACCESS TO MEDICAL AND BEHAVIORAL HEALTH SERVICES AND COMMUNITY BUILDING ACTIVITIES. PROPERTY OPERATIONS ARE REPORTED AT GROUP AFFILIATES FORM 990 (TAX ID#74-2678601)


PROSPER CENTER PROGRAMS-TAX HELP, HEALTH COVERAGE, FINANCIAL WELLNESS & COLLEGE HUB PROSPER CENTER'S TAX HELP PROGRAM PROVIDED FREE INCOME TAX RETURN PREPARATION SERVICES FOR LOW-INCOME TAXPAYERS THAT RECEIVED $14.5 MILLION IN TAX REFUNDS. MORE THAN 300 VOLUNTEERS PREPARED 7,426 TAX RETURNS. THE HEALTH COVERGE PROGRAM HELPED 4,310 PEOPLE ENROLLED IN HEALTH INSURANCE, CLAIMING $24.9 MILLION IN PREMIUM TAX CREDITS. THROUGH OUR COLLEGE HUB PROGRAM, OVER 1,000 COLLEGE STUDENTS UTILIZED COLLEGE SUPPORT SERVICES; 192 COLLEGE STUDENTS RECEIVED MORE THAN $625,000 IN PELL GRANTS AND $40,500 IN SCHOLARSHIPS; 76 STUDENTS MADE DEPOSITS TO SAVINGS ACCOUNTS AND RECEIVED MATCHING FUNDS TO BE USED FOR THEIR COLLEGE EDUCATION. USING OUR FINANCIAL WELLNESS SERVICES, 358 RESIDENTS RECEIVED MORE THAN $450,000 IN EMERGENCY RENT OR UTILITY ASSISTANCE FUNDS AND 72 RESIDENTS ENROLLED IN A PROGRAM DESIGNED TO IMPROVE THEIR CREDIT SCORES.DALLAS COMMUNITY TAX CENTERS PREPARED 3,992 TAX RETURNS DURIING THE 2021 TAX SEASON. CLIENTS RECEIVED $8,691,424 IN REFUNDS. $4,092 HOURS WERE DONATED BY 125 VOLUNTEERS. 17 PEOPLE SIGNED UP FOR THE DALLAS SAVES PROGRAM.


LEARNING IN A COMMUNITY687 CHILDREN TOOK PART IN FREE AFTER-SCHOOL AND SUMMER LEARNING CENTER PROGRAMS INCLUDING PRE-LITERACY, ELEMENTARY AND TEEN PROGRAMS. ADDITIONALLY, ADULTS ARE PROVIDED WITH ONSITE AND VIRTUAL ESL, FINANCIAL LITERACY, EXERCISE AND HEALTHY LIVING CLASSES. 110 ADULTS PARTICIPATED INCLUDING 99 THROUGH ESL AND 11 THROUGH DIGITAL LITERACY.


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Board, Officers & Key Employees

Name (title)Compensation
Walter Moreau
Exec. Director
$261,864
Julian Huerta
Deputy Director
$182,104
Ann Clift
CFO
$181,465
Vicki Mcdonald
Chief Reo
$181,465
Sabrina Butler
Dir. R.e. Develop.
$135,686
Desiree Golden
Dir. Prop. Mgmt.
$130,933

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Austin Public Education Foundation
Education Consultant
$116,047
Bartlett Cocke Residential Llc
General Contractor
$9,363,340
Charter Communications Holdings Llc
Telecommunications
$442,717
Ijanitorial
Janitorial Services
$125,449
Mapp Llc
Construction
$152,412
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$401,967
Membership dues$0
Fundraising events$0
Related organizations$1,280,000
Government grants $9,884,259
All other contributions, gifts, grants, and similar amounts not included above$14,344,004
Noncash contributions included in lines 1a–1f $4,888,151
Total Revenue from Contributions, Gifts, Grants & Similar$25,910,230
Total Program Service Revenue$10,731,835
Investment income $3,961,094
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,482,188
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $44,085,347

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Foundation Communities Inc has recieved totaling $100,000.

Awarding OrganizationAmount
The Powell Foundation

Houston, TX

PURPOSE: HUMAN SERVICES: FOOD/HOUSING INSECURITY OR OTHER STABLIZATION AND EMPOWERMENT EFFORTS

$100,000
View Grant Recipient Profile

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