Abode Communities
- Assets
- $71.5m
- Revenue
- $32.7m
- Investments
- $0.0
- Employees
- 211
- Location
- Los Angeles, CA
- Founding
- 11/1972
- Data as of
- 12/2022
- EIN
- 95-6377511
Organization Overview
Abode Communities is located in Los Angeles, CA. The organization was established in 1972. 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 12/2022, Abode Communities employed 211 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abode Communities 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 12/2022, Abode Communities generated $32.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $19.1m during the year ending 12/2022. While expenses have increased by 12.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, DESIGN, DEVELOP AND OPERATE AFFORDABLE HOUSING PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING MANAGEMENT
ALL OTHER PROGRAM SERVICES
AFFORDABLE HOUSING DESIGN AND ARCHITECTURAL SERVICES
AFFORDABLE HOUSING DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Boyer Chair | OfficerTrustee | 0.1 | $0 |
Nkechi Odu Vice Chair | OfficerTrustee | 0.1 | $0 |
Sindy Spivak Secretary | OfficerTrustee | 0.1 | $0 |
Brian Hansen Treasurer | OfficerTrustee | 0.1 | $0 |
Milton Curry Director | Trustee | 0.1 | $0 |
Khalif Edwards Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Van Meter Williams Pollack Llp Architectural Design Consulting | 12/30/22 | $355,374 |
Jendolin Consulting Llc Management Services | 12/30/22 | $185,227 |
Da Collective Co Architectural Design Consulting | 12/30/22 | $184,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,796,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,369,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,165,983 |
| Total Program Service Revenue | $16,747,248 |
| Investment income | $721,147 |
| 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 | $32,741,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,900 |
| 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. | $845,435 |
| Compensation of current officers, directors, key employees. | $57,292 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,873,964 |
| Pension plan accruals and contributions | $303,450 |
| Other employee benefits | $336,343 |
| Payroll taxes | $571,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,759 |
| Fees for services: Accounting | $102,768 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,045,605 |
| Advertising and promotion | $0 |
| Office expenses | $783,634 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $594,145 |
| Travel | $121,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $493,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $150,678 |
| Insurance | $325,838 |
| All other expenses | $900 |
| Total functional expenses | $19,051,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,493,511 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $782,628 |
| Accounts receivable, net | $4,618,566 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,691,270 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $230,675 |
| Net Land, buildings, and equipment | $183,619 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,762,369 |
| Intangible assets | $1,375,981 |
| Other assets | $26,384,608 |
| Total assets | $71,523,227 |
| Accounts payable and accrued expenses | $1,392,832 |
| Grants payable | $0 |
| Deferred revenue | $8,933,829 |
| 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 | $22,066,094 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,634,717 |
| Total liabilities | $34,027,472 |
| Net assets without donor restrictions | $37,015,822 |
| Net assets with donor restrictions | $479,933 |
| 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 | $71,523,227 |
Grants Awarded
Over the last fiscal year, Abode Communities has awarded $87,150 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA COMMUNITY FOUNDATION PURPOSE: DONOR ADVISED FUND | $37,150 |
ROLLAND CURTIS COMMERCIAL QALICB INC PURPOSE: UNRESTRICTED GRANT TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $50,000 |