Foundation Communities

Analysis

Foundation Communities 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 reported income of $25.9m and spending of $26.2m, spending 101% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $22.4m to $25.9m (+15%), an average of +4.9% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Foundation Communities sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Elderhomes Corp ($25.9m), Kingdom Development Inc ($26.0m) and Herons Key ($25.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.4% and program service revenue 91% of the total. Other salaries and wages came to $3.5m. At year end it held assets of $93.5m against liabilities of $123.6m, net assets of -$30.2m. It reported 823 employees.