Agape Homes CDC FY2024 filing

Tax-deductible

Houston, TX501(c)(3)HousingEIN 46-2978748Revenue $5.6M in FY2024

On file with the IRSagapedevelopment.org6504 Calhoun Rd, 77021-4206 · Houston, TXTax-exempt since Aug 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To provide families in the community an affordable option for home ownership.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$21K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $908K a year · 21% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$21K
to officers and key staff · 0.3% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$742K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.6M
+45% vs prior year
Spent
$5.9M
To programs
99%
Net assets
$6.4M
By yearFY2021–FY2025
Revenue
$5.6M
FY2024▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.7M
FY2022$3.9M
FY2024$5.6M
FY2025$5.2M
Expenses
$5.9M
FY2024▲ +275%
Tap a bar for its year
Expenses by fiscal year
FY2021$36K
FY2022$1.6M
FY2024$5.9M
FY2025$6.3M
Net assets
$6.4M
FY2024▲ +28%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.7M
FY2022$5.0M
FY2024$6.4M
FY2025$3.8M

From the FY2024 Form 990 (year ending May 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $5.8M Management & general 1% · $50K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $21K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$10,378Pt VII · Sec A
$10,245Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Peter Freedman’s $10K as Secretary is at the 1st percentile of top reported officer pay among 2037 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2022
Peter Freedman$10,245$70,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps families achieve affordable homeownership.

Provided by the organization

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2 programs · $5.6M · in their own filed words · FY2023
01

Agape Homes CDC will build new homes on empty lots causing zero displacement while increasing the owner occupancy rate in the neighborhood. We aim to serve families below 80% AMI by offering homes at reduced cost. All the houses will fit the current and historical architecture of the Greater OST South Union neighborhood.

$4.7Mprogram expense
02

Agape Homes CDC is building new homes on empty lots causing zero displacement while increasing the owner occupancy rate in the neighborhood. We aim to serve families below 80% AMI by offering homes at reduced cost. All the houses will fit the current and historical architecture of the Greater OST/ South Union neighborhood.

$893Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$10K
Grants paid · 3 grants · $2.0M · 2022–2023
Agape Development MinistriesTX · FY2023$1,562,113
Individual RecipientFY2023$175,490
Individual RecipientFY2022$289,671

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.6M
Ln 12
Other incomeLn 4–11$4.0M
Gifts and grantsLn 1h$774K
Fees for servicesLn 2g$772K
Money outPt IX
$5.9M
Ln 25
Programscol B$5.8M
Managementcol C$50K
Owns and owesPt X
$6.4M
net assets · Ln 32
Cash and savingsLn 1–2$849K
Total assetsLn 16$9.0M
LiabilitiesLn 26$742K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$774K
Fees for servicesLn 2g$772K
Investment incomeLn 3$2K
Other incomeLn 4–11$4.0M
Total revenueLn 12$5.6M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$849K
Total assetsLn 16$9.0M
LiabilitiesLn 26$742K
Net assetsLn 32$6.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.2M$6.3M−$1.0M$3.8M 990 PDF
FY2024 Viewing $5.6M$5.9M−$305K$6.4M 990 PDF
FY2023 Not on file
FY2022 $3.9M$1.6M$2.3M$5.0M 990 PDF
FY2021 $2.7M$36K$2.7M$2.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (1 part)
Part VI · Governance 5 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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