Overview
What is Foundation Communities Inc?
Foundation Communities Inc is a renowned nonprofit organization based in Austin, Texas. Their primary mission is to enhance community stability by offering affordable housing options for low-income residents. They currently manage 3,733 units across 26 affordable housing communities in Austin and Dallas-Fort Worth. The organization also pursues new acquisitions to expand their reach. Foundation Communities Inc goes beyond just providing shelter by offering supportive services. Case managers work with 1,047 families and individuals, including those at or below 30% Median Family Income, and those living in Single Room Occupancy (SRO) communities. A significant portion of the SRO residents were formerly homeless. The organization's case management services aim to promote housing stability and encourage physical and mental health well-being. They provide access to essential needs, medical and behavioral health services, income-increasing tools, community-building activities, parenting support, school advocacy, and career case management. Foundation Communities Inc's vision is to create an environment where families thrive by providing affordable housing and supportive social services, ultimately improving the financial standing of the working poor and their communities.
Official website here: www.foundcom.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97%, Four-Star out of Four Star rating.
Foundation Communities Inc has achieved a high level of accountability and financial management, reflected in its impressive 97% score from Charity Navigator. This rating is based entirely on its fiscal accountability, demonstrating that the organization operates with transparency and integrity. The charity has an independent board with all members contributing to its governance, ensuring diverse perspectives and oversight.
The organization excels in various financial metrics, including an excellent program expense ratio of 82.20%, indicating that a substantial portion of its resources is directed toward its programs rather than administrative costs. Additionally, the fundraising efficiency ratio is commendable at $0.04, signifying effective resource allocation in raising funds. The charity also maintains a strong working capital ratio, ensuring stability and sustainability for future initiatives.
No significant limitations were noted in the data, highlighting the organization’s robust financial health and responsible governance practices. Overall, Foundation Communities Inc demonstrates a strong commitment to its mission and effective use of resources, positioning it as a trustworthy nonprofit in its sector.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation Communities Inc legitimate?
Foundation Communities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation Communities Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $942,318
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,179,628
For more financial information, click here
Official website here: www.foundcom.org
What is the mission statement of Foundation Communities Inc?
Foundation Communities Inc is dedicated to creating an environment where families can thrive by providing them with affordable housing and essential supportive services. Through this approach, the organization aims to improve the financial standing of the working poor and their communities. With over 3,733 units of affordable housing across 26 communities, Foundation Communities Inc has made strides in enhancing community stability. Their case management services, offered to families at or below 30% Median Family Income and individuals living in Single Room Occupancy (SRO) communities, provide vital support to ensure housing stability and promote physical and mental health well-being. These services encompass access to basic needs, medical and behavioral health care, income-increasing tools, community building activities, parenting support, school advocacy, and career development assistance.
Official website here: www.foundcom.org
Who is the CEO of Foundation Communities Inc?
Walter Moreau is the Exec. Director of Foundation Communities Inc.
Official website here: www.foundcom.org
What is the revenue of Foundation Communities Inc?
Foundation Communities Inc's revenue in 2022 was $44,338,510.
Official website here: www.foundcom.org
Who are the executives of Foundation Communities Inc and what are their salaries?
The average compensation at Foundation Communities Inc during 2022 was $20,564. There are 784 employees and 1906 volunteers at Foundation Communities Inc.
Here are 24 key members and their salaries:
- Compensation: $334,433
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- Other: $20,699
- Compensation: $185,428
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- Other: $13,759
- Compensation: $183,075
- Related: $0
- Other: $14,009
- Compensation: $139,840
- Related: $0
- Other: $11,793
- Compensation: $138,866
- Related: $0
- Other: $11,850
- Compensation: $132,757
- Related: $0
- Other: $11,155
- Compensation: $123,294
- Related: $0
- Other: $10,633
- Compensation: $113,191
- Related: $0
- Other: $10,140
- Compensation: $116,088
- Related: $0
- Other: $6,707
- Compensation: $110,057
- Related: $0
- Other: $9,947
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Official website here: www.foundcom.org
Where can I find the form 990 for Foundation Communities Inc?
Foundation Communities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.foundcom.org
Learn more at the official website: www.foundcom.org
Mission Statement of Foundation Communities Inc
Foundation Communities Inc, a renowned nonprofit organization, is dedicated to creating an environment where families can thrive. By providing affordable housing and supportive social services, they aim to educate, empower, and elevate the financial standing of the working poor and their communities.
Through their commitment to community stability, Foundation Communities Inc manages over 3,733 units of affordable housing across 26 communities in Austin and Dallas-Fort Worth. They go beyond just offering affordable housing, as their team of case managers offers individualized support to families and individuals in need. With a focus on those at or below 30% Median Family Income, the organization provides essential services to 1,047 individuals.
These services extend beyond the basics, with a focus on promoting housing stability, enhancing physical and mental well-being, and increasing income. Foundation Communities Inc offers access to various resources, including medical and behavioral health services, tools to expand income, community-building activities, and educational and career guidance. By providing a comprehensive support system, Foundation Communities Inc empowers families to improve their lives and create a more stable future.
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Impact
October, 2024
Foundation Communities Inc significantly impacts the lives of low-income families by providing affordable housing paired with essential supportive services. Operating 3,733 units across 26 communities in Austin and the Dallas-Fort Worth area, the organization addresses the pressing need for stable, affordable living spaces. By enhancing community stability, Foundation Communities plays a crucial role in uplifting individuals and families struggling to make ends meet.
Among its achievements, case managers offer tailored support to 188 families earning at or below 30% of the Median Family Income, as well as 859 individuals residing in shared room occupancy (SRO) communities—half of whom have experienced homelessness. The comprehensive case management services help these residents navigate challenges related to housing stability and improve their overall well-being.
Foundation Communities facilitates access to basic necessities, medical and behavioral health services, and provides tools to bolster income through education and employment support. Additionally, community-building activities, parenting support, and school advocacy ensure that families can thrive, creating a ripple effect that benefits the entire community. Through these multifaceted initiatives, the organization is dedicated to improving the financial standing and quality of life for the working poor, ultimately fostering environments where families can succeed.
This information is meant to be a general summary of Foundation Communities Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,434,034
- Program Service Revenue: $8,952,776
- Gross Receipts: $44,338,510
Assets and Liabilities:
- Total Assets: $222,576,163
- Total Liabilities: $62,423,994
- Net Assets: $160,152,169
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Asset Management Fees
Revenue
$853,755
Development Fees
Revenue
$2,282,896
Management Fees
Revenue
$2,117,421
Misc. Reimbursements,etc.
Revenue
$542,078
Resident Service Fees
Revenue
$2,710,832
Organization Details
Founding Year
1990
Phone
(512) 447-2026Principal Officer
Walter Moreau
Main Address
3000 S IH 35 Suite 300, Austin, TX, 78704
Website
www.foundcom.orgNTEE Category
Code: L20Z - Housing
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