2012-03-12T09:45:55-07:00 2010-12-31 990 2010-01-01 742563260 Foundation Communities Inc FOUN 5124472026 3036 South First St Austin TX 78704 Walter Moreau 2012-03-12 2010 2016-02-24 21:20:13Z Walter Moreau 3036 S First Suite 200 Austin TX 78704 9991987 false false 7171 X www.foundcom.org X 1990 TX 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. 14 14 296 800 0 3729244 6534215 3421069 3435971 32253 21801 0 7182566 9991987 178061 297000 0 3413317 4222367 0 466055 999403 1209965 4590781 5729332 2591785 4262655 41358871 50737296 9874563 14990333 31484308 35746963 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. false false 2671759 297000 OPENING DOORS TO HOMESImprovement of overall community stability by providing affordable housing alternatives for low income residents.(2,403 housing units at 16 affordable housing communities in Austin, Dallas-Fort Worth) Strategically pursued new acquisitions, especially for families. Social work case managers provide individual case management to families at or below 30% Median Family Income(CHI program) to assist with issues that risk stability in the household. Increased CHI Units from 72 to 111 in 2010. Additional case management services provided for SRO communities that house individuals that have previously been homeless(345 units). Property operating costs and revenues are reported at Group Affiliates Form 990 (Tax ID# 74-2678601) 1572385 COMMUNITY TAX CENTERS & FINANCIAL LITERACY PROGRAMS - SAVING FOR THE FUTURECommunity tax centers provided free income tax return preparation services for low-income taxpayers that received $29 million in tax refunds and credits (16,927 taxpayers provided services by 600+ volunteers)62 families deposited $57,000 in their savings accounts, earning nearly double that in matching funds to be used for post-secondary education, home purchases or small business.100 people completed money management classes.73% of those who completed money management classes improved their credit scores or established credit within 6 months, and 298 clients received one-on-one financial coaching.260 clients received one-on-one financial coaching. 453686 LEARNING IN A COMMUNITY800 children took part in free after-school or summer learning center programs, with 85% maintaining or improving grades; 96 adults attended classes in ESL classes. 4697830 true true false true false false false false true false true false false true false true false true false false false false false false false false false false true true false false false false false false false false false false false false false false false false true true true false false true 32 0 true 296 true false false false false false false false false false false false 0 false false false false false false false false false false false X 14 14 false true false false false false false true true false false false true true true true true true true false true true X X Ann Clift 5124472026 3036 South First Austin TX 787046382 Walter Moreau 40.00 X X 146170 0 13896 Vicki McDonald 40.00 X 92857 0 11393 Tom Chmielewski 5.00 X 0 0 0 Theresa Alvarez 5.00 X X 0 0 0 Socar Chatmon-Thomas 5.00 X 0 0 0 Sandra Lumley 40.00 X 105745 0 11363 Lew Aldridge 5.00 X 0 0 0 Leslie Pearson 5.00 X 0 0 0 Julian Huerta 40.00 X 103551 0 16428 Jason Qunell 5.00 X X 0 0 0 Gina Richardson 5.00 X X 0 0 0 Freddy Marichal 5.00 X 0 0 0 Debbie Knight 5.00 X 0 0 0 Danny Hamilton 5.00 X X 0 0 0 Christina Cohee 5.00 X 0 0 0 Charles DiTullio 5.00 0 0 0 Aubrey Gonzales 5.00 X 0 0 0 Ann Clift 40.00 X X 94988 0 13543 Alicia Wong 5.00 0 0 0 543311 66623 3 false true false None over 100000 0 240503 640000 2197025 3456687 6534215 Resident Service Fees 267160 267160 Misc. Reimbursements,etc. 742846 742846 Management Fees 733510 733510 Interest on Affil. Notes 1176647 1176647 Asset Management Fees 365808 365808 150000 150000 3435971 21801 21801 0 0 0 0 0 0 0 0 9991987 3435971 21801 0 297000 297000 0 0 543311 383229 121137 38945 0 3007744 2436273 300774 270697 88016 71293 8802 7921 181710 147185 18171 16354 401586 325285 40158 36143 0 191 191 2788 2258 279 251 0 0 0 161234 160349 466 419 80086 80086 44556 36090 4456 4010 60089 48672 6009 5408 0 76547 62003 7655 6889 30242 24496 3024 2722 0 0 53632 43442 5363 4827 124171 124171 137493 111369 13749 12375 16469 13340 1647 1482 Telecommunications 61440 49766 6144 5530 Property taxes 42177 34163 4218 3796 Program supplies 33782 33782 Printing and Publications 84463 68415 8446 7602 Mileage/parking 34502 27947 3450 3105 166103 117025 11499 37579 5729332 4697830 565447 466055 343632 5914706 4499223 1038978 1902085 155622 2762290 0 0 21245900 27490954 0 39112 23462 2187951 684835 1562682 1503116 0 0 0 0 11401871 12212534 41358871 50737296 233275 2753475 322000 354141 9319288 11882717 9874563 14990333 X 25331699 28224786 1660432 2155000 4492177 5367177 31484308 35746963 41358871 50737296 4262655 X X false true true X true true X 4114430 2920447 4726118 3729244 6534215 22024454 2827801 2683806 3116113 2421069 3435971 14484760 0 0 0 6942231 5604253 7842231 6150313 9970186 36509214 0 0 36509214 111554 152410 108549 32253 21801 426567 0 111554 152410 108549 32253 21801 426567 0 0 7053785 5756663 7950780 6182566 9991987 36935781 0.98850 0.95970 0.01150 0.04030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false true 7910 false false false 7910 false false false true 307132 307132 1121413 168009 953404 262009 118990 143019 441925 349514 92411 55472 48322 7150 1503116 Mgmt. Fees & Misc. due from affil. 126732 Int. Receivable from non-affil. 1518495 Int. Receivable from Affil. 6586171 Escrow deposits Dev. Fees Receivable 2422186 12212534 Part X Part X : FIN48 Footnote In June 2006, the FASB issued new guidance within ASC740-10, Income Taxes, effective for years beginning after December 15, 2008. It clarified the accounting for uncertainty in income taxes recognized in the consolidated financial statements. Foundation Communities adopted the amended provisions during the year ended December 31, 2009. This standard had no effect on Foundation Communities' consolidated financial position, results of operations or cash flows. Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. Neighborworks America has granted Capital funds for the establishment of a revolving loan pool that Foundation Communities uses to acquire and improve low-income housing in Texas. Foundation Communities loans these funds to affiliate organizations for the acquisition and improvements made to low income properties.Additionally, Neighborworks America has granted an $1,230,000 that has been granted to affiliates of Foundation Communities to permanently reduce the mortage debt on the property and house families at 30% of median family income levels. This amount is reported on the Group Affiliate Form 990.Additional endowment funds are held by Austin Community Foundation as designated by donors for future support of Foundation Communities. As of December 31, 2010, Austin Community Foundation had received $15,800 in donations in 2010 and the fair market value of the endowment fund was $172,869 at 12-31-2010. Part IV, Line 2b Part IV, Line 2b: Explanation of escrow account liability Foundation Communities holds funds from grant sources and internally designated funds for a matched savings program participants as part of a Financial Literacy education program. Participants savings are matched with funds from the escrow for three eligible purposes - home purchase, secondary education or small business start-up. true X 0 0 Transportion/bus passes 2112 7029 Cost Daily bus passes Rent assistance 133 138712 Cost Rent and security deposits Medical assistance 288 46526 Cost Med. services Household assistance 299 104733 Cost Food & Util. X false false false false false false false false false false Walter Moreau 146170 13896 160066 148188 Audited Financial Statement - Part X Foundation Communities, Inc. is included in the audited financial statements and single audit report for the combined group of Foundation Communities, Inc. and its affiliates. Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Mailed or e-mailed upon request. Also available on Guidestar website Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Executive Committee reviews and approves compensation of Executive Director. Executive Director reviews and approves compensation of all other employees. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts All board and staff submit an annual statement regarding conflicts of interest and disclosing any possible conflicts. Statements are summarized by Human Resources department and reviewed by the Executive Director. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process Form 990 is reviewed by senior staff and then the Finance/Audit committee before filing with IRS. Form 990, Part VI, Line 3 Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company During 2010, Foundation Communities contracted with ADP Totalsource as a PEO to administer payroll and employee benefits. Accordingly during 2010 all W-2 wages are reported by ADP Totalsource instead of Foundation Communities and Affiliates. As of January 2, 2011 this contract was terminated. Client Note 1 - Schedule D,Part XI, XII and XIII, Reconciliation of Revenue per Audited Financial Statements with Revenue per ReturnFOUNDATION COMMUNITIES, INC. AND AFFILIATESRECONCILIATION OF 2010 REVENUE PER THE FORMS 990 TO THE 2010 AUDITED FINANCIAL STATEMENTS Revenue ExpensesPer Form 990Foundation Communities(74-2563260) 9,991,987 5,729,332Affiliates (74-2678601) 13,292,485 14,474,533Total before Eliminations 23,284,472 20,203,865Less Eliminations (3,053,752) (3,104,023) (see audit report supplemental info)Total after eliminations 20,230,720 17,099,8422010 Audited Financials 20,204,450 17,099,274 2010 Audited Financials 26,270 436 [LLC entities not included in exempt groupdue to taxable status under IRC 169(h)(6)(F)(ii)] (see audit report supplemental info)Difference -0- -0- FC Austin Two Housing Corp 3036 S First St 200 Austin TX 78704 208832986 Inactive entity TX 501(c)(3) 9 Foundation Communities Inc false FC Austin One Housing Corp 3036 S First St 200 Austin TX 78704 208832910 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false FC Ashford Housing Corp 3036 S First St 200 Austin TX 78704 743018421 Inactive entity TX 501(c)(3) 9 Foundation Communities Inc false Central Texas PC Mutual Housing Corp 3036 S First St 200 Austin TX 78704 742951149 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Central Texas SWA Mutual Housing Corp 3036 S First St200 Austin TX 78704 742914069 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Central Texas Searight Housing Corp 3036 S First St 200 Austin TX 78704 742877220 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Garden Terrace Housing Corporation 3036 S First St 200 Austin TX 78704 743019950 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Spring Terrace Housing Corporation 3036 S First St 200 Austin TX 78704 203499523 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Peters Colony Mutual Housing Corporatio 3036 S First St 200 Austin TX 78704 742748151 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Shadow Brook Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742748153 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Sleepy Hollow Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742748154 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Daffodil Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742763624 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Village Green Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742941951 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Saint Elmo Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742592916 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Crossroads Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742564401 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Cherry Creek Mutual Housing Corporation 3036 S First St 200 Austin TX 78704 742539401 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Buckingham Mutual Housing Corporation 3036 South First St 200 Austin TX 78704 742602616 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false M Station Hsg LP 3036 South First Street Austin TX 78704 264307919 LI housing TX NA related true false Shady Oaks Hsg LP 3036 South First Street Austin TX 78704 271658966 LI housing TX NA related true false Skyline Terrace Hsg LP 3036 S First St 200 Austin TX 78704 205250955 LI housing TX NA related true false SWA Housing LP 3036 S First Street 200 Austin TX 78704 742914068 LI housing TX NA related true false Searight Housing LP 3036 S First Street 200 Austin TX 78704 742877221 LI housing TX NA related true false FC Shady Oaks Hsg LLC 3036 South First Street Austin TX 78704 271658922 Low income housing TX Foundation Comm C -27053 500000 1.00000 FC M Station Hsg LLC 3036 South First Street Austin TX 78704 264307826 Low income housing TX Foundation Communities Inc C 443 1444 1.00000 FC Skyline Terrace Hsg LLC 3036 South First Street Austin TX 78704 205368522 Low income housing TX Foundation Communities Inc C -31 1363728 1.00000 true true true true true false false false false false true false true true true true false false FC Shady Oaks Hsg LLC d 500000 loan balance M Station Hsg LP p 926893 cash pmt Skyline Terrace Hsg LP p 497799 cash pmt SWA Housing LP p 205596 cash pmt Searight Housing LP p 347117 cash pmt Searight Housing LP o 18291 cash pmtt FC Austin One Housing Corp d 75000 loan balance Central Texas PC Mutual Housing Corp p 190948 cash pmt Central Texas SWA Mutual Housing Corp d 1041087 loan balance Central Texas Searight Housing Corp d 1822032 loan balance Garden Terrace Housing Corporation p 329153 cash pmt Garden Terrace Housing Corporation d 577945 loan balance Garden Terrace Housing Corporation b 10710 cash pmt Garden Terrace Housing Corporation a 9528 cash pmt Spring Terrace Housing Corporation p 294845 cash pmt Spring Terrace Housing Corporation d 1487975 loan balance Spring Terrace Housing Corporation b 11396 cash pmt Peters Colony Mutual Housing Corporatio p 142733 cash pmt Peters Colony Mutual Housing Corporatio d 30000 loan balance Shadow Brook Mutual Housing Corporation p 153956 cash pmt Shadow Brook Mutual Housing Corporation d 201433 loan balance Shadow Brook Mutual Housing Corporation c 30000 cash pmt Shadow Brook Mutual Housing Corporation a 8873 cash pmt Sleepy Hollow Mutual Housing Corporation p 70570 cash pmt Sleepy Hollow Mutual Housing Corporation d 693651 loan balance Sleepy Hollow Mutual Housing Corporation a 41172 cash pmt Daffodil Mutual Housing Corporation p 134730 cash pmt Daffodil Mutual Housing Corporation d 718854 loan balance Village Green Mutual Housing Corporation p 356902 cash pmt Village Green Mutual Housing Corporation d 5417230 loan balance Village Green Mutual Housing Corporation b 55723 cash pmt Saint Elmo Mutual Housing Corporation p 410896 cash pmt Saint Elmo Mutual Housing Corporation d 33572 loan balance Saint Elmo Mutual Housing Corporation c 24981 cash pmt Saint Elmo Mutual Housing Corporation b 90000 cash pmt Saint Elmo Mutual Housing Corporation a 179 cash pmt Crossroads Mutual Housing Corporation d 1157886 Loan balance Crossroads Mutual Housing Corporation a 2218 cash pmt Cherry Creek Mutual Housing Corporation p 252050 cash pmt Cherry Creek Mutual Housing Corporation e 2550000 Line of Credit Cherry Creek Mutual Housing Corporation d 67145 loan balance Cherry Creek Mutual Housing Corporation c 120000 cash pmt Cherry Creek Mutual Housing Corporation a 3171 cash pmt Buckingham Mutual Housing Corporation p 333460 cash pmt Buckingham Mutual Housing Corporation d 67145 loan balance Buckingham Mutual Housing Corporation c 400000 cash pmt Buckingham Mutual Housing Corporation a 3171 cash pmt