American Opportunity Foundation, Diplomat Affordable Housing Corp in Atlanta, Georgia (GA)

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American Opportunity Foundation, Diplomat Affordable Housing Corp
Employer Identification Number (EIN)582358049
Name of OrganizationAmerican Opportunity Foundation
Secondary NameDiplomat Affordable Housing Corp
In Care of NamePhillip Kennedy
Address600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994
ActivitiesCare and housing for the aged (see also 382)
SubsectionCharitable Organization
Ruling Date01/1985
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period2009
Assets$0
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$-2,034,124
Amount of Income$1,433,156
Form 990 Revenue Amount$1,433,156
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Development, Construction, Management


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Amount of income in 2009: $1,433,156
American Opportunity Foundation, Diplomat Affordable Housing Corp: 

 $1,433,156
Other organizations performing similar types of work: 

 $914,408

Assets in 2009: $-2,034,124
This organization: 

 $-2,034,124
Other organizations performing similar types of work: 

 $2,572,607

Expenses in 2002: $2,221,293
This organization: 

 $2,221,293
Other organizations performing similar types of work: 

 $776,462

Income to expenses ratio in 2002: 0.6
American Opportunity Foundation, Diplomat Affordable Housing Corp: 

 0.6
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2002: 86.8%
This organization: 

 86.8%
Other organizations performing similar types of work: 

 90.8%

Grants share in income in 2002: 0.0%
American Opportunity Foundation, Diplomat Affordable Housing Corp: 

 0.0%
Other organizations performing similar types of work: 

 0.3%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$1,653,131$1,483,967$1,433,156
Contributions, gifts, grants, and similar amounts received$0$0$0
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$1,568,951$1,416,664$1,387,324
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$84,180$67,303$45,832
Dividends and interest from securities$0$0$0
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0
Gross amount from sales of assets other than inventory$0$0$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$1,915,077$2,017,844$2,221,293
Program services$1,915,077$1,790,769$1,928,157
Management and general$0$227,075$293,136
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$-712,110$-1,245,987$-2,034,124
Excess or (deficit) for the year$-261,946$-533,877$-788,137
Net assets or fund balances at beginning of year$-450,164$-712,110$-1,245,987
Other changes in net assets or fund balances$0$0$0
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,221,293$1,928,157$293,136$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$141,600$127,440$14,160$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$12,134$10,921$1,213$0
Payroll taxes$12,396$11,156$1,240$0
Professional fundraising fees$0$0$0$0
Accounting fees$17,957$0$17,957$0
Legal fees$0$0$0$0
Supplies$3,234$2,911$323$0
Telephone$6,818$6,136$682$0
Postage and shipping$665$599$66$0
Occupancy$95,845$95,845$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$5,182$4,664$518$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$656,669$656,669$0$0
Depreciation, depletion, etc.$284,978$284,978$0$0
Other expenses not covered above$983,815$726,838$256,977$0
Balance Sheets
200020012002
Total assets$9,245,859$8,661,665$7,764,905
Cash - non-interest-bearing$303,337$217,100$21,679
Savings and temporary cash investments$26,781$35,874$31,387
Accounts receivable less allowance for doubtful accounts$7,256$4,801$27,343
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$3,801$18,762$21,775
Investments - publicly-traded securities
Investments - other securities$1,419,669$1,185,134$747,705
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$6,948,584$6,689,541$6,430,541
Other assets, including program-related investments$536,431$510,453$484,475
Total liabilities$9,957,969$9,907,652$9,799,029
Accounts payable and accrued expenses$668,687$640,024$801,908
Grants payable$0$0$0
Deferred revenue$2,938$100,792$94,687
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$9,259,434$9,144,842$8,875,250
Other liabilities$26,910$21,994$27,184
Total liabilities and net assets/fund balances$9,245,859$8,661,665$7,764,905
Total net assets or fund balances$-712,110$-1,245,987$-2,034,124
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$1,653,131$1,483,967$1,433,156
Total revenue, gains, and other support per audited financial statements$1,653,131$1,483,967$1,433,156
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$1,915,077$2,017,844$2,221,293
Total expenses and losses per audited financial statements$1,915,077$2,017,844$2,221,293
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$45,832$1,387,324
Program service revenue
Program service revenue 1000000$000$0$1,289,347
Program service revenue 2000000$000$0$97,977
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$45,832$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$1,809,661$1,657,387$1,483,967
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$1,729,359$1,573,207$1,416,664
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$80,302$84,180$67,303
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Habitat For Humanity In Atlanta Inc, Atlanta824 Memorial Dr Se, Atlanta, GA 30316-1232GA1984-05$17,497,280
2Enable Of Georgia Inc, R P A1200 Old Ellis Rd Ste A, Roswell, GA 30076-3850GA1983-12$5,635,262
3American Opportunity Foundation, Houston Affordable Housing Corp4401 Northside Pkwy Nw Ste 711, Atlanta, GA 30327-5278GA1985-01$5,602,194
4Jerusalem House Inc17 Executive Park Dr Ne Ste 290, Atlanta, GA 30329-2220GA1989-05$4,327,940
5Habitat For Humanity International Inc, Nw Metro Atlanta Hfh1625 Spring Rd Se, Smyrna, GA 30080-3774GA1987-01$3,918,283
6American Opportunity Foundation, Aofriver Falls Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$3,183,229
7Rha-Housing Inc1819 Peachtree Rd Ne Ste 450, Atlanta, GA 30309-1853GA1995-03$1,808,083
8American Opportunity Foundation, Beech Grove Affordable Housing Corp600 Galleria Pkwy Ste 1660, Atlanta, GA 30339-5994GA1985-01$1,664,395
9American Opportunity Foundation, Diplomat Affordable Housing Corp600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994GA1985-01$1,433,156
10Urban Residential Development Corp72 Solomon St Se Ste 100, Atlanta, GA 30312-2834GA1990-05$1,244,857
11Fairhaven Healthcare Center Inc35 Avco Rd, Haverhill, MA 01835-6936MA2007-11$15,699,503
12Reach Community Development Inc4150 Sw Moody Ave, Portland, OR 97239-4417OR1982-09$11,702,112
13St Ambrose Housing Aid Center Inc321 E 25th St, Baltimore, MD 21218-5303MD1992-07$9,841,406
14St Martins Manor Christopher Homes Inc Agent1000 Howard Avenue, New Orleans, LA 70113-1903LA1946-03$6,327,057
15Lafayette Rehabilitation And Skilled Nursing Facility Inc35 Avco Rd, Haverhill, MA 01835-6936MA2007-11$5,973,591
16Windham & Windsor Housing Trust Inc68 Birge Street, Brattleboro, VT 05301-6421VT1989-02$5,106,581
17William Booth Residence Inc, William Booth Gardens1424 Northeast Expy Ne, Atlanta, GA 30329-2018GA1994-02$585,520
18American Opportunity Foundation, Aof-Dfw Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
19American Opportunity Foundation, Regency Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
20Renew Macon Community Housing Development Organization Inc690 Holt Avenue, Macon, GA 31204GA2007-09$0
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas9
Arizona8
California114
Colorado16
Connecticut18
District of Columbia3
Delaware5
Florida41
Georgia22
Hawaii2
Iowa7
Idaho2
Illinois33
Indiana13
Kansas4
Kentucky12
Louisiana13
Massachusetts39
Maryland21
Maine7
Michigan31
Minnesota30
Missouri12
Mississippi3
Montana3
North Carolina23
North Dakota1
Nebraska3
New Hampshire7
New Jersey14
New Mexico3
Nevada6
New York110
Ohio32
Oklahoma2
Oregon11
Pennsylvania33
Rhode Island6
South Carolina4
South Dakota2
Tennessee22
Texas44
Utah6
Virginia25
Vermont8
Washington15
Wisconsin17
West Virginia7
International2
Total875
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateAmerican Opportunity Foundation, Houston Affordable Housing Corp4401 Northside Pkwy Nw Ste 711, Atlanta, GA 30327-5278GA1985-01$5,602,194
SubordinateAmerican Opportunity Foundation, Aofriver Falls Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$3,183,229
SubordinateAmerican Opportunity Foundation, Beech Grove Affordable Housing Corp600 Galleria Pkwy Ste 1660, Atlanta, GA 30339-5994GA1985-01$1,664,395
SubordinateAmerican Opportunity Foundation, Diplomat Affordable Housing Corp600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994GA1985-01$1,433,156
CentralAmerican Opportunity Foundation Inc4401 Northside Pkwy Nw Ste 711, Atlanta, GA 30327-5278GA1985-01$909,732
SubordinateAmerican Opportunity Foundation, Aofbexar Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$33,758,840
SubordinateAmerican Opportunity Foundation, Pacific Affordable Housing Corp7777 Center Ave Ste 240, Huntingtn Bch, CA 92647-3056CA1985-01$2,356,710
SubordinateAmerican Opportunity Foundation, Aof-Bristol Affordable Housing Corp7777 Center Ave Ste 240, Huntingtn Bch, CA 92647-3056CA1985-01$1,287,918
SubordinateAmerican Opportunity Foundation, Aof-Golden State Community Developm7777 Center Ave Ste 240, Huntingtn Bch, CA 92647-3056CA1985-01$346,806
SubordinateAmerican Opportunity Foundation, Bastrop Community Housing Corp600 Galleria Parkway Suite 1440, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, South Forty Community Housing Corp600 Galleria Parkway Suite 1440, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aof-Dfw Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aof-Sc Housing Corporation600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aofshadybrook Affordable Housing Corporation4401 Northside Parkway Suite 711, Atlanta, GA 30327GA1985-01$0
SubordinateAmerican Opportunity Foundation, Regency Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aof-Northbrook Affordable Hsng Corp600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aof-Spring Grove Affordable Housing600 Galleria Pkwy Ste 1660, Atlanta, GA 30339-5994GA1985-01$0
SubordinateAmerican Opportunity Foundation, Aofaugusta Affordable Housing Corp600 Galleria Parkway Suite 1660, Atlanta, GA 30339GA1985-01$0
SubordinateAmerican Opportunity Foundation, Ash Creek Affordable Housing Corp600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994GA1985-01$0
SubordinateAmerican Opportunity Foundation, Brookstone Affordable Housing Corp600 Galleria Pky Ste 1660, Atlanta, GA 30339-5994GA1985-01$0
Number of affiliated organizations
California3
Georgia21
Total24

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