Avenue Community Development Coporation
- Assets
- $81.2m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 55
- Location
- Houston, TX
- Founding
- 01/1993
- Data as of
- 12/2021
- EIN
- 76-0380602
Organization Overview
Avenue Community Development Coporation, operating under the name Avenue, is located in Houston, TX. The organization was established in 1993. 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, Avenue employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avenue 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, Avenue generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $13.0m during the year ending 12/2021. While expenses have increased by 26.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AVENUE'S MISSION IS TO INVEST IN PEOPLE, HOMES AND COMMUNITIES TO ADVANCE EQUITY AND OPPORTUNITY FOR ALL HOUSTONIANS.
Describe the Organization's Program Activity:
AFFORDABLE HOUSING PROGRAM SERVICES- EXPENDITURES RELATING TO THE PURCHASE AND DEVELOPMENT OF AFFORDABLE HOUSING FOR RENT AND SALES TO LOW INCOME AND MODERATE INCOME FAMILIES AND INDIVIDUALS AND IMPROVEMENTS TO EXISTING PROPERTIES THIS ACTIVITY INCLUDED THE SALE OF 5 SINGLE FAMILY HOMES, THE RENTAL AND OPERATIONS OF APPROXIMATELY 467 RENTAL UNITS AT 7 APARTMENT PROJECTS AND 33 RENTAL HOMES, THE RENTAL OF SPACE IN AVENUE CENTER TO OTHER TAX EXEMPT ENTITIES, THE DEVELOPMENT OF A LOW INCOME HOUSING TAX CREDIT APARTMENT PROJECT AND THE COMPLETION OF MAJOR REPAIRS AND IMPROVEMENTS TO PROPERTIES DAMAGED BY THE 2021 WINTER FREEZE.
COMMUNITY INITIATIVES PROGRAM SERVICES- SUPPORTED COMMUNITY BUILDING AND ENGAGEMENT, PROMOTED CIVIC ENGAGEMENT, CULTIVATED RESIDENT LEADERSHIP AND BROUGHT NEIGHBORS TOGETHER TO ADVOCATE FOR COMMUNITY IMPROVEMENTS. BY ENGAGING RESIDENTS, GOVERMENT AGENCIES, COMMUNITY ORGANIZATIONS, BUSINESSES AND OTHER STAKEHOLDERS, AVENUE HELPED RESIDENTS INCREASE PUBLIC AWARENESS AND SAFETY, BEAUTIFY THEIR NEIGBORHOODS, PROMOTE HEALTH AND WELLNESS, IMPROVE EDUCTAIONAL OUTCOMES, AND SUPPORT LOCAL ARTS AND CULTURE.
FAMILY ASSET BUILDING AND OTHER PROGRAMS- AVENUE PROMOTED HOME OWNERSHIP AND FINANCIAL CAPABLITY; ASSISTED FAMILIES AND INDIVIDUALS TO IMPROVE ECONOMIC CIRCUMSTANCES THROUGH HOMEBUYER EDUCATION, FORECLOSURE PREVENTION COUNSELING AND FINANCIAL CAPABILITY TRAINING. PROVIDED HOMEBUYER EDUCATION CLASSES TO 960 INDIVIDUALS AND ASSISTED NUMEROUS CLIENTS WITH THE PURCHASE AND PRESERVATION OF HOMES. IN ADDITION PROVIDED FINACIAL ASSISTANCE TO APPROXIMATELY 70 HOUSEHOLDS IN THE FORM OF DOWN PAYMENT ASSISTANCE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lawler CEO | Officer | 39 | $173,423 |
Bernice Yu COO | Officer | 39 | $131,484 |
Travis Gordon CFO | Officer | 39 | $120,675 |
Cassandra Sivernail Pres, Director | OfficerTrustee | 1 | $0 |
Jamie Bryant Vp, Director | OfficerTrustee | 1 | $0 |
Viola Solomon Sec, Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wells & Son Roofing Roofing | 12/30/21 | $140,000 |
Ymca Buildout Reimbusements | 12/30/21 | $331,000 |
Fca Contruction Construction | 12/30/21 | $1,033,594 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,477,528 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,260,123 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,737,651 |
| Total Program Service Revenue | $7,473,283 |
| Investment income | $157,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $122,454 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $42,986 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,542,239 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $525,000 |
| Grants and other assistance to domestic individuals. | $176,279 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $425,582 |
| Compensation of current officers, directors, key employees. | $88,947 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,963,417 |
| Pension plan accruals and contributions | $82,229 |
| Other employee benefits | $315,527 |
| Payroll taxes | $305,730 |
| Fees for services: Management | $206,940 |
| Fees for services: Legal | $85,924 |
| Fees for services: Accounting | $85,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $446,442 |
| Advertising and promotion | $12,036 |
| Office expenses | $316,364 |
| Information technology | $192,482 |
| Royalties | $0 |
| Occupancy | $2,591,276 |
| Travel | $2,324 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,039 |
| Interest | $1,036,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,347,069 |
| Insurance | $452,035 |
| All other expenses | $1,396,669 |
| Total functional expenses | $12,982,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,416,452 |
| Savings and temporary cash investments | $5,615,823 |
| Pledges and grants receivable | $361,436 |
| Accounts receivable, net | $6,639,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,542,020 |
| Inventories for sale or use | $2,573,517 |
| Prepaid expenses and deferred charges | $487,242 |
| Net Land, buildings, and equipment | $39,426,840 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $772,832 |
| Intangible assets | $0 |
| Other assets | $353,128 |
| Total assets | $81,189,118 |
| Accounts payable and accrued expenses | $5,004,548 |
| Grants payable | $0 |
| Deferred revenue | $2,467,503 |
| 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 | $44,998,450 |
| Unsecured mortgages and notes payable | $597,615 |
| Other liabilities | $0 |
| Total liabilities | $53,068,116 |
| Net assets without donor restrictions | $27,237,556 |
| Net assets with donor restrictions | $883,446 |
| 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 | $81,189,118 |
Grants Awarded
Over the last fiscal year, Avenue Community Development Coporation has awarded $77,755 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ALL OTHERS EACH UNDER 5000 PURPOSE: IMPROVEMENTS | $29,855 |
Houston, TX PURPOSE: PROGRAM SUPPORT | $12,000 |
GREATER NORTHSIDE MANAGEMENTDISTRICT PURPOSE: ORG SUPPORT | $11,000 |
GREATER NORTHSIDE CHAMBER OF COMMER PURPOSE: SUPPORT | $10,900 |
Phoenix, AZ PURPOSE: OUTREACH | $8,000 |
Washington, DC PURPOSE: WORKSHOPS | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Avenue Community Development Coporation has recieved totaling $1,478,617.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Houston Houston, TX PURPOSE: Disaster | $500,000 |
Episcopal Health Foundation Houston, TX PURPOSE: Support Change in Healthcare Financing | $400,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $192,000 |
Centerpoint Energy Foundation Inc Houston, TX PURPOSE: PRESERVATION OF AFFORDABLE HOUSING THROUGH AVENUE'S SOCIAL IMPACT FUND | $125,000 |
Houston In Action Houston, TX PURPOSE: HUMAN SERVICES | $103,592 |
Rockwell Fund Inc Houston, TX PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |