Commonwealth Housing Corporation in San Antonio, Texas (TX)

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Commonwealth Housing Corporation
Employer Identification Number (EIN)541921358
Name of OrganizationCommonwealth Housing Corporation
Address1530 Nw Crossroads Apt 1224, San Antonio, TX 78251-2171
SubsectionCharitable Organization
Ruling Date03/1999
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$5,000,000 to $9,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$9,369,405
Amount of Income$11,841,613
Form 990 Revenue Amount$11,841,613
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Development, Construction, Management


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Amount of income in 2010: $11,841,613
Commonwealth Housing Corporation: 

 $11,841,613
Other organizations performing similar types of work: 

 $914,408

Assets in 2010: $9,369,405
Commonwealth Housing Corporation: 

 $9,369,405
Other organizations performing similar types of work: 

 $2,572,607

Expenses in 2010: $6,937,273
This organization: 

 $6,937,273
Other organizations performing similar types of work: 

 $776,462

Income to expenses ratio in 2010: 1.7
This organization: 

 1.7
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2006: 93.1%
This organization: 

 93.1%
Other organizations performing similar types of work: 

 90.8%

Grants share in income in 2010: 0.0%
Commonwealth Housing Corporation: 

 0.0%
Other organizations performing similar types of work: 

 0.3%

Financial snapshot ($)

Revenue for 2010

Functional expenses for 2010

Statements Regarding Other IRS Filings and Tax Compliance (for 2010)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2010)
Total revenue$11,841,613
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$5,576,817
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$97,284
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$6,167,512
Statement of Functional Expenses (for 2010)
Total functional expenses$6,937,273
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$1,013,129
Payroll taxes$0
Professional fundraising services$0
Other$5,924,144
Balance Sheet (for 2010)
Total assets$9,369,405
Total liabilities$9,369,505
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$10,161,840
Unsecured notes and loans payable to unrelated third parties$0
Other$-792,335
Total net assets or fund balances$0
Reason for Public Charity Status (for 2010)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010)
2006 - 2010 Total
Total Support$1
Gifts, grants, contributions, and membership fees received$1
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002200320052006
Total revenue$5,961,526$5,856,638$11,142,142$6,535,703$9,018,636$6,797,962
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$5,720,145$5,767,072$11,142,132$6,535,703$7,903,547$6,037,874
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$241,381$89,566$10$0$331,940$178,001
Dividends and interest from securities$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$783,149$582,087
Total expenses$4,340,138$4,697,360$4,396,849$6,535,703$10,939,297$11,865,016
Program services$4,340,138$4,697,360$4,394,149$6,535,703$9,772,616$11,049,412
Management and general$0$0$0$0$1,166,681$815,604
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$2,700$0$0$0
Net assets or fund balances at end of year$1,555,074$2,714,352$9,459,644$9,459,644$-12,897,584$-14,286,222
Excess or (deficit) for the year$1,621,388$1,159,278$6,745,293$0$-1,920,661$-5,067,054
Net assets or fund balances at beginning of year$-66,314$1,555,074$2,714,351$9,459,644$3,060,756$-12,897,584
Other changes in net assets or fund balances$0$0$0$0$-14,037,679$3,678,416
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,865,016$11,049,412$815,604$0
Grants paid from donor advised funds$0
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.$12,021$12,021$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
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)$0$0$0$0
Salaries and wages of employees not included above$883,992$838,200$45,792$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$30,622$0$30,622$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$879,117$879,117$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$3,142,845$3,142,845$0$0
Depreciation, depletion, etc.$5,057,376$5,057,376$0$0
Other expenses not covered above$1,859,043$1,119,853$739,190$0
Balance Sheets
200020012002200320052006
Total assets$64,259,884$69,837,692$120,445,253$171,387,180$65,860,220$74,450,229
Cash - non-interest-bearing$30,484$197,927$134,849$1,860,369$472,228$1,060,390
Savings and temporary cash investments$0$0$0$0$0$5,119,261
Accounts receivable less allowance for doubtful accounts$59,312$78,583$44,662$1,322,637$109,916$23,500
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$88,556$90,354$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$7,797,258$13,625,709$14,724,330$22,350,705$147,286$174,065
Investments - publicly-traded securities$0
Investments - other securities$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$0$300$300
Land, buildings, and equipment less accumulated depreciation$56,263,915$55,826,457$105,524,447$145,838,201$57,555,148$65,257,787
Other assets, including program-related investments$20,359$18,662$16,965$15,268$7,575,342$2,814,926
Total liabilities$62,704,810$67,123,341$110,985,609$161,927,536$78,757,804$88,736,451
Accounts payable and accrued expenses$2,132,949$4,834,705$7,638,475$13,727,368$2,144,830$4,442,912
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$2,850,502$393,123
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$60,571,861$62,288,636$0$0$0$0
Mortgages and other notes payable$0$0$103,347,134$148,200,168$73,762,472$83,732,157
Other liabilities$0$0$0$0$0$168,259
Total liabilities and net assets/fund balances$64,259,884$69,837,692$120,445,253$171,387,180$65,860,220$74,450,229
Total net assets or fund balances$1,555,074$2,714,351$9,459,644$9,459,644$-12,897,584$-14,286,222
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002200320052006
Total revenue$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002200320052006
Total expenses$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$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?No
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?No
Does the organization have a written conflict of interest policy?No
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?No
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)?No
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?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$760,088$6,037,874
Program service revenue
Program service revenue 1000000$000$0$6,037,874
Program service revenue 2000000$000$0$0
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)$178,001$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$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$582,087$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
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 2006)
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 2006)
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920002001200220042005
Total$0$0$0$0$2,888,470$9,018,636
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$0$0$0$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$0$0$0$0$2,888,470$7,903,547
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$0$0$0$0$0$331,940
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$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$0$0$0
Other income$0$0$0$0$0$783,149
Lobbying Expenditures by Electing Public Charities (for 2006)
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
1American Opportunity For Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1992-10$181,325,381
2Maple Avenue Economic Development Corporation Of Dallas4739 Maple Ave, Dallas, TX 75219-1004TX1983-09$88,005,582
3American Agape Foundation Inc, Agape Irving Housing Inc7334 Blanco Rd Ste 200, San Antonio, TX 78216-4933TX1989-01$22,531,321
4Foundation Communities, Group Return3036 S 1st St, Austin, TX 78704-6352TX1990-05$19,103,393
5Commonwealth Housing Corporation1530 Nw Crossroads Apt 1224, San Antonio, TX 78251-2171TX1999-03$11,841,613
6Housing Initiatives Corp VAustin, TX 78749TX$10,350,992
7Housing And Community Services Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-10$10,306,720
8Dallas City Homes Inc729 N Bishop Ave, Dallas, TX 75208-4340TX1990-09$6,995,052
9Tarrant County Samaritan Housing Inc929 Hemphill Street, Fort Worth, TX 76104-3126TX1992-02$1,946,950
10Tg 103 Inc, Oak Village Apts8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$1,126,237
11T G 108 Inc, Laredo Manor Apts8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$803,129
12Texas Home Access Fund16250 Knoll Trail Dr Ste 210, Dallas, TX 75248-2873TX2001-04$292,198
13Savannah Housing CorporationPO BOX H, Port Arthur, TX 77641-0238TX1995-03$115,821
14Corpus Christi Finance Corporation3701 Ayers St, Corp Christi, TX 78415-4615TX2004-02$114,064
151000 Cottages Inc1115 Moody Ave, Galveston, TX 77550-4624TX2006-11$0
16Agape Branching Out Community Development Corporation620 Geller Rd, Ferris, TX 75125-8117TX2007-09$0
17Disability Community Housing Development Corporation7407 Grape St, Houston, TX 77074-4419TX1999-03$0
18Freedmens Town Association Inc1318/1320 Robin Street, Houston, TX 77019TX1981-10$0
19Houston Our House Inc925 S Mason Rd Ste 226, Katy, TX 77450-3874TX1994-05$0
20San Jacinto Community Development Corp115 Munger St, Pasadena, TX 77506TX2014-06$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

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