Foundation Communities Inc

Analysis

Foundation Communities Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in May 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation Communities Inc reported income of $41.3m and spending of $30.2m, leaving 27% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $18.1m to $41.3m (+127%), an average of +18% a year. The sharpest change came in the year to December 2019, when income rose by 95%. Over the whole period it spent 67% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Foundation Communities Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Mercy Housing California ($41.1m), Cardinal Bay Inc ($42.0m) and Father Bills & Mainspring Inc ($41.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $1.1m (3.6% of expenses). Other salaries and wages came to $18.1m. At year end it held assets of $236.6m against liabilities of $65.4m, net assets of $171.2m. It reported 823 employees.