2012-07-31T16:31:10-07:00 2011-12-31 ANN ELISE CLIFT CPA 248 ADDIE ROY RD STE B301 AUSTIN TX 787464101 990 2011-01-01 742563260 Foundation Communities Inc FOUN 5124472026 3036 South First St Austin TX 78704 Walter Moreau 2012-07-31 true Ann Elise Clift CPA 5123013160 X 2011 2016-02-24 21:20:13Z 12737792 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 14 317 900 0 6534215 6913143 3435971 5808245 21801 16404 0 9991987 12737792 297000 347906 0 4222367 4031517 0 388394 1209965 1493645 5729332 5873068 4262655 6864724 50737296 57164131 14990333 14552444 35746963 42611687 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 1634707 347906 OPENING DOORS TO HOMESImprovement of overall community stability by providing affordable housing alternatives for low income residents.(2,553 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 - 101 CHI Units in 2011. 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) 1461447 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 $27.6 million in tax refunds and credits (16,227 taxpayers provided services by 600+ volunteers)51 families deposited to savings accounts with matching funds to be used for post-secondary education, home purchases or small business.100 people completed money management classes.68% of those who completed money management classes improved their credit scores or established credit within 6 months, and 302 clients received one-on-one financial coaching.260 clients received one-on-one financial coaching. 666634 LEARNING IN A COMMUNITY723 children took part in free after-school or summer learning center programs, with 85% maintaining or improving grades; 142 adults attended classes in ESL classes. 3762788 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 101 0 true 317 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 false 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 Aubrey Gonzales 5.00 X 0 0 0 Ed Turknett 5.00 X 0 0 0 Jason Qunell 5.00 X X 0 0 0 Christina Cohee 5.00 X X 0 0 0 Lew Aldridge 5.00 X 0 0 0 Danny Hamilton 5.00 X 0 0 0 Freddy Marichal 5.00 X 0 0 0 Theresa Alvarez 5.00 X X 0 0 0 Socar Chatmon-Thomas 5.00 X 0 0 0 Charles DiTullio 5.00 X 0 0 0 Leslie Pearson 5.00 X X 0 0 0 Tom Chmielewski 5.00 X 0 0 0 David Tandy 5.00 X 0 0 0 Alicia Wong 5.00 X 0 0 0 Sandra Lumley 40.00 X 115364 0 9224 Julian Huerta 40.00 X 112247 0 9068 Vicki McDonald 40.00 X 107828 0 8847 Ann Clift 40.00 X 102953 0 8604 Walter Moreau 40.00 X 153162 0 11114 591554 46857 5 false true false None over 100000 0 560025 706000 1916750 3730368 6913143 Resident Service Fees 532038 532038 Management Fees 742318 742318 Interest on Affil. Notes 1681632 1681632 Development Fees 2416571 2416571 Asset Management Fees 361950 361950 73736 73736 5808245 16404 16404 0 0 0 0 0 0 0 0 12737792 5808245 16404 0 347906 347906 0 0 608834 243534 304417 60883 0 2748160 1629429 912283 206448 172798 113556 52819 6423 213191 132974 67406 12811 288534 170306 95545 22683 0 0 6846 6846 5000 5000 0 0 378960 266515 109168 3277 85680 81120 4560 41764 24074 15514 2176 67412 42825 20945 3642 0 90360 58938 28585 2837 32007 22258 9749 0 0 69630 69630 291247 291247 105863 95277 5293 5293 6909 5529 690 690 Uncollectible Pledges 37980 37980 Property taxes 42405 30223 11872 310 Program/project costs 64844 61291 3553 Printing and Publications 47142 22159 10902 14081 Mileage/parking 42088 33131 6884 2073 77508 20866 49855 6787 5873068 3762788 1721886 388394 343632 460581 4499223 4355415 1902085 1604640 2762290 3220129 0 0 27490954 30063466 0 23462 38108 2244447 790699 1503116 1453748 0 0 0 0 12212534 15968044 50737296 57164131 2753475 3096927 354141 108000 11882717 11347517 14990333 14552444 X 28224786 33073835 2155000 3112395 5367177 6425457 35746963 42611687 50737296 57164131 6864724 X X false true true X true true X 2920447 4726118 3729244 6534215 6913143 24823167 2683806 3116113 2421069 3435971 4126613 15783572 0 0 0 5604253 7842231 6150313 9970186 11039756 40606739 0 0 40606739 152410 108549 32253 21801 16404 331417 0 152410 108549 32253 21801 16404 331417 0 0 5756663 7950780 6182566 9991987 11056160 40938156 0.99190 0.98850 0.00810 0.01150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false true false false false true 5000 false false false 5000 false false Part II-B, Line 1i Part II-B, Line 1i - Other Activities Description Four members of management spent a total of approx. 120 hours in communications regarding various local and state level issues related to affordable housing financing programs and informing local City Council in regards to raising attention to payday loan operators' harm to the local low income community. false true 307132 307132 1121413 219873 901540 270784 140574 130210 445097 342529 102568 100021 87723 12298 1453748 Mgmt. Fees & Misc. due from affil. 119678 Int. Receivable from non-affil. 2008964 Int. Receivable from Affil. 7666695 Escrow deposits 75000 Dev. Fees Receivable 4538757 15968044 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 $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, 2011, Austin Community Foundation had received $3,215 in donations in 2011 and the fair market value of the endowment fund was $182,670 at 12-31-2011. 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 581 10685 Cost Daily bus passes Rent assistance 1576 130677 Cost Rent and security deposits Medical assistance 141 137846 Cost Med. services Household assistance 2501 68698 Cost Food & Util. Grantmaker's Description of How Grants are Used Grant funds and assistance to individuals are monitored through approval processed to disburse funds directly to service providers. X false false false false false false false false false false Walter Moreau 153162 7658 3456 164276 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. Client Note 1 - Schedule D,Part XI, XII and XIII, Reconciliation of Revenue per Audited Financial Statements with Revenue per ReturnFoundation Communities, Inc. and Affiliates' audited financial statements are prepared on a combined/consolidated basis with all 100% owned affiliates included. Based on the group exemption filing requirements per IRS instructions two separate Forms 990 are prepared - one showing only the parent entity, Foudation Communities, Inc. (74-2563260) and another one which combines all the group affiliates (74-2678601). Shown below is a reconciliation between the separate 990's and the combined audit report.FOUNDATION COMMUNITIES, INC. AND AFFILIATESRECONCILIATION OF 2011 REVENUE PER THE FORMS 990 TO THE 2011 AUDITED FINANCIAL STATEMENTS Revenue ExpensesPer Form 990Foundation Communities(74-2563260) 12,737,792 5,873,068Affiliates (74-2678601) 13,609,193 14,510,169Total before Eliminations 23,346,985 20,383,237Less Eliminations (3,746,483) (3,797,190) (see audit report supplemental info)Total after eliminations 22,600,502 16,586,0472011 Audited Financials 22,611,192 16,595,825 2011 Audited Financials 10,690 9,778 [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 Four Housing Corp 3036 South First Street Austin TX 78704 452536121 Inactive entity TX 501c3 9 Foundation Communities Inc false FC Austin Three Housing Corp 3036 South First Street Austin TX 78704 452536080 Inactive entity TX 501c3 9 Foundation Communities Inc false FC Austin Two Housing Corp 3036 S First St Austin TX 78704 208832986 Inactive entity TX 501(c)(3) 9 Foundation Communities Inc false FC Austin One Housing Corp 3036 S First St Austin TX 78704 208832910 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false FC Ashford Housing Corp 3036 S First St 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 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 St 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 Austin TX 78704 742877220 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Garden Terrace Housing Corporation 3036 S First St Austin TX 78704 743019950 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Spring Terrace Housing Corporation 3036 S First St 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 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 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 Austin TX 78704 742748154 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Daffodil Mutual Housing Corporation 3036 S First St 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 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 Austin TX 78704 742592916 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Crossroads Mutual Housing Corporation 3036 S First St 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 Austin TX 78704 742539401 Low income housing TX 501(c)(3) 9 Foundation Communities Inc false Buckingham Mutual Housing Corporation 3036 South First St 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 Low income housing TX NA related -68 2827 true false Shady Oaks Hsg LP 3036 South First Street Austin TX 78704 271658966 Low income housing TX NA related -86 1834 false false Skyline Terrace Hsg LP 3036 S First St Austin TX 78704 205250955 Low income housing TX NA related -27 875 false false SWA Housing LP 3036 S First Street Austin TX 78704 742914068 Low income housing TX NA related -238 786 true false Searight Housing LP 3036 S First Street Austin TX 78704 742877221 Low income housing TX NA related -516321 874 true false FC Shady Oaks Hsg LLC 3036 South First Street Austin TX 78704 271658922 Low income housing TX Foundation Comm C 472947 1.00000 FC M Station Hsg LLC 3036 South First Street Austin TX 78704 264307826 Low income housing TX Foundation Communities Inc C 1513 1012102 1.00000 FC Skyline Terrace Hsg LLC 3036 South First Street Austin TX 78704 205368522 Low income housing TX Foundation Communities Inc C 33 1363629 1.00000 true true true true false false false false false false true false false false true true false false M Station Hsg LP p 12246669 cash pd M Station Hsg LP k 19506 cash pd M Station Hsg LP d 1000000 cash pd Shady Oaks Hsg LP p 7264864 cash pd Shady Oaks Hsg LP k 12485 cash pd Shady Oaks Hsg LP a 181821 accrual Skyline Terrace Hsg LP p 236951 cash pd Skyline Terrace Hsg LP k 33198 cash pd SWA Housing LP p 220429 cash pd SWA Housing LP k 59592 cash pd SWA Housing LP a 150713 accrual Searight Housing LP p 394634 cash pd Searight Housing LP o 53587 cash pd Searight Housing LP k 95403 cash pd Searight Housing LP d 25000 cash pd Searight Housing LP a 169952 accrual FC Austin One Housing Corp d 3055635 cash pd Garden Terrace Housing Corporation p 298831 cash pd Garden Terrace Housing Corporation k 102879 cash pd Garden Terrace Housing Corporation d 22000 cash pd Garden Terrace Housing Corporation a 38092 accrual Spring Terrace Housing Corporation p 323283 cash pd Spring Terrace Housing Corporation k 109266 cash pd Spring Terrace Housing Corporation d 155000 cash pd Spring Terrace Housing Corporation a 141069 accrual Peters Colony Mutual Housing Corporatio p 118834 cash pd Peters Colony Mutual Housing Corporatio k 111889 cash pd Shadow Brook Mutual Housing Corporation p 61747 cash pd Shadow Brook Mutual Housing Corporation k 230089 cash pd Shadow Brook Mutual Housing Corporation c 117500 cash pd Sleepy Hollow Mutual Housing Corporation p 56646 cash pd Sleepy Hollow Mutual Housing Corporation k 82544 cash pd Sleepy Hollow Mutual Housing Corporation a 33766 cash pd Daffodil Mutual Housing Corporation p 95079 cash pd Daffodil Mutual Housing Corporation k 15385 cash pd Daffodil Mutual Housing Corporation d 10000 cash pd Daffodil Mutual Housing Corporation b 29695 cash pd Daffodil Mutual Housing Corporation a 43345 accrual Village Green Mutual Housing Corporation p 416726 cash pd Village Green Mutual Housing Corporation k 97794 cash pd Village Green Mutual Housing Corporation d 686000 cash pd Village Green Mutual Housing Corporation b 110867 cash pd Village Green Mutual Housing Corporation a 464683 accrual Saint Elmo Mutual Housing Corporation p 487979 cash pd Saint Elmo Mutual Housing Corporation k 156845 cash pd Saint Elmo Mutual Housing Corporation b 97098 cash pd Crossroads Mutual Housing Corporation p 120467 cash pd Crossroads Mutual Housing Corporation k 102806 cash pd Crossroads Mutual Housing Corporation a 638116 Accrual Cherry Creek Mutual Housing Corporation p 169088 cash pd Cherry Creek Mutual Housing Corporation k 173106 cash pd Cherry Creek Mutual Housing Corporation c 148500 Cash pd Buckingham Mutual Housing Corporation p 198251 Cash pd Buckingham Mutual Housing Corporation k 235501 Cash pd Buckingham Mutual Housing Corporation c 440000 Cash pd