Civic Intelligence

American Agape Foundation Inc

990 • Fiscal year 2023 • EIN 47-2402063

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 03, 2024

7334 Blanco Road Ste 200San Antonio, TX 78216

(210) 341-8097

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.12x

Higher debt load relative to assets than 97% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

4.53x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

27th percentile

-4.1%

Higher net margin than 27% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

23rd percentile

-1.3%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

51st percentile

5.8%

Faster revenue growth than 51% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$30,005,791

Flat from 2023

Net Assets

Flat

-$3,650,481

Flat from 2023

Liabilities

Flat

$33,656,272

Flat from 2023

Revenue

Flat

$7,434,691

Flat from 2023

Expenses

Flat

$7,739,893

Flat from 2023

Net Income

Flat

-$305,202

Flat from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$20M$0-$20MAssets 2014: $1Liabilities 2014: $02014Assets 2015: $35,113,175Liabilities 2015: $36,039,440Net Assets 2015: -$926,2652015Assets 2017: $33,149,352Liabilities 2017: $34,529,182Net Assets 2017: -$1,379,8302017Assets 2018: $32,642,333Liabilities 2018: $34,561,598Net Assets 2018: -$1,919,2652018Assets 2019: $31,760,068Liabilities 2019: $34,355,000Net Assets 2019: -$2,594,9322019Assets 2020: $31,065,332Liabilities 2020: $34,194,704Net Assets 2020: -$3,129,3722020Assets 2021: $30,797,369Liabilities 2021: $33,798,938Net Assets 2021: -$3,001,5692021Assets 2022: $30,399,821Liabilities 2022: $33,745,100Net Assets 2022: -$3,345,2792022Assets 2023: $30,005,791Liabilities 2023: $33,656,272Net Assets 2023: -$3,650,4812023Assets 2023: $30,005,791Liabilities 2023: $33,656,272Net Assets 2023: -$3,650,4812023Assets 2024: $29,576,976Liabilities 2024: $33,655,270Net Assets 2024: -$4,078,2942024

Highlighted filing

2023

Assets$30,005,791
Liabilities$33,656,272
Net Assets-$3,650,481

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $4,171,381Expenses 2015: $5,097,646Net Income 2015: -$926,2652015Revenue 2017: $6,279,581Expenses 2017: $6,635,700Net Income 2017: -$356,1192017Revenue 2018: $6,651,887Expenses 2018: $7,191,322Net Income 2018: -$539,4352018Revenue 2019: $6,796,752Expenses 2019: $7,472,419Net Income 2019: -$675,6672019Revenue 2020: $6,748,844Expenses 2020: $7,283,284Net Income 2020: -$534,4402020Revenue 2021: $7,152,363Expenses 2021: $7,024,560Net Income 2021: $127,8032021Revenue 2022: $7,026,423Expenses 2022: $7,370,133Net Income 2022: -$343,7102022Revenue 2023: $7,434,691Expenses 2023: $7,739,893Net Income 2023: -$305,2022023Revenue 2023: $7,434,691Expenses 2023: $7,739,893Net Income 2023: -$305,2022023Revenue 2024: $7,212,711Expenses 2024: $7,640,524Net Income 2024: -$427,8132024

Highlighted filing

2023

Revenue$7,434,691
Expenses$7,739,893
Net Income-$305,202
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 3, 2024
Return Version
2023v5.0
Gross Receipts
$7,434,691
Mission and Program Overview

Mission

To provide affordable low-income housing to individuals and families in houston texas at two different complexes called concord at williamcrest and concord at little york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,060,437$27,809,006▼ $251,431
Intangible Assets$642,931$572,318▼ $70,613
Prepaid Expenses and Deferred Charges$323,390$408,045▲ $84,655
Accounts Receivable$212,117$139,621▼ $72,496
Cash and Non-Interest-Bearing Accounts$126,770$37,532▼ $89,238
Total Assets$30,399,821$30,005,791▼ $394,030
Other Assets Total$1,034,176$1,039,269▲ $5,093
Liabilities
Tax Exempt Bond Liabilities$32,866,997$32,484,445▼ $382,552
Accounts Payable and Accrued Expenses$826,206$1,130,384▲ $304,178
Other Liabilities$51,897$41,443▼ $10,454
Total Liabilities$33,745,100$33,656,272▼ $88,828
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,345,279$-3,650,481▼ $305,202
Total Net Assets Fund Balance$-3,345,279$-3,650,481▼ $305,202
Total Liabilities and Net Assets / Fund Balance$30,399,821$30,005,791▼ $394,030

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,845,533$6,521,448$30,366,981
Land$2,834,935-$2,834,935
Equipment$1,128,538$1,669,551$2,798,089
Compensation and Service Providers

Board Members and Trustees

NameTitle
David StarrPresident
Muthana Mohammed AttahDirector
James ShipleySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$183,741
Program Service Revenue
$7,217,706
Investment Income
$33,244
Other Revenue
$0
All Other Contributions
$183,741
Change in Net Assets
$-305,202

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,434,691
Total Revenue per Audited Statements
$7,434,691
Total Revenue per Form 990
$7,434,691
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,739,893
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,959,700--$1,959,700
Occupancy$1,688,150--$1,688,150
Depreciation Depletion$1,116,476--$1,116,476
Insurance$997,939--$997,939
Fees for Services Management-$264,104-$264,104
Office Expenses$170,526--$170,526
All Other Expenses$97,721--$97,721
Payments to Affiliates$72,000--$72,000
Other Expenses$54,144--$54,144
Advertising$23,978--$23,978
Fees for Services Legal-$17,889-$17,889
Fees for Services Accounting-$10,000-$10,000
Total Functional Expenses$7,447,900$291,993$0$7,739,893

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,739,893
Total Expenses per Audited Statements$7,739,893
Total Expenses per Form 990$7,739,893
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Family RelationMgt FeesNo$264,104
-Common DirectorGrant IncomeNo$183,741
-Common DirectorA/p-operating AdvNo$88,055
-Common DirectorAsset Mgt FeesNo$72,000
-Common DirectorA/r-operating AdvNo$23,035
-Common DirectorA/r-operating AdvNo$5,656
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Revenue$21,249
Prepaid Revenue$8,806
Tenant Deposit Payable$6,775
Tenant Deposit Payable$4,613

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMultifamily Housing Revenue Bonds-a2015-01-29$34,260,000Facilitate purchase of the properties in houston texas

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

All day-to-day operations at the apartment complexes are managed by foresight asset management, llc.

Form 990, Page 6, Part VI, Line 11B

A copy of the form 990 is provided to mr. Starr, the president, before filing. Mr. Starr reviews and approves the form 990 before being filed with the irs.

Form 990, Page 6, Part VI, Line 12C

If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigations as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 19

All documents available upon written request.

Filing and Contact Details

Filer

Filer Name
Agape Williamcrest Inc
EIN
47-2402063
Phone
2103418097
Address
7334 BLANCO ROAD STE 200, SAN ANTONIO, TX 78216

Signing Officer

Name
David Starr
Title
President
Phone
2103418097
Signed
2024-06-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Starr
Formed
2014
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Davis Ray & Co Pc
Address
PO BOX 309, SEMINOLE, TX 79360
Preparer
Derek Ray
Phone
4327583226
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt06745251
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt06779828
IRS990ScheduleA/Total509Grp/TotalAmt035098908
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt07434691
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt07026423
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt07152363
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt06748844
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt06796752
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt035159073
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt023845533
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06521448
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt030366981
IRS990ScheduleD/EquipmentGrp/BookValueAmt01128538
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01669551
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02798089
IRS990ScheduleD/ExpensesSubtotalAmt07739893
IRS990ScheduleD/LandGrp/BookValueAmt02834935
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02834935
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021249
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18806
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt26775
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt34613
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID REVENUE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT DEPOSIT PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TENANT DEPOSIT PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt07434691
IRS990ScheduleD/TotalBookValueLandBuildingsAmt027809006
IRS990ScheduleD/TotalExpensesPerForm990Amt07739893
IRS990ScheduleD/TotalLiabilityAmt041443
IRS990ScheduleD/TotalRevenuePerForm990Amt07434691
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07739893
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IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0MULTIFAMILY HOUSING REVENUE BONDS-A FACILITATE PURCHASE OF THE PROPERTIES IN HOUSTON TEXAS
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02015-01-29
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt034260000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MULTIFAMILY HOUSING REVENUE BONDS-A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0FACILITATE PURCHASE OF THE PROPERTIES IN HOUSTON TEXAS
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0AMERICAN AGAPE FOUNDATION INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1FORESIGHT ASSET MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2AMERICAN AGAPE FOUNDATION INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3AVISTAR AT WOOD HOLLOW
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt4AGAPE GULFGATE INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt5AVISTAR AT WILCREST
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0COMMON DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1FAMILY RELATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2COMMON DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3COMMON DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4COMMON DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1264104
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt2183741
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt323035
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt488055
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt55656
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ASSET MGT FEES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1MGT FEES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2GRANT INCOME
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3A/R-OPERATING ADV
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4A/P-OPERATING ADV
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc5A/R-OPERATING ADV
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL DAY-TO-DAY OPERATIONS AT THE APARTMENT COMPLEXES ARE MANAGED BY FORESIGHT ASSET MANAGEMENT, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO MR. STARR, THE PRESIDENT, BEFORE FILING. MR. STARR REVIEWS AND APPROVES THE FORM 990 BEFORE BEING FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATIONS AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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