Avenue Community Development Corporation

Avenue Community Development Corporation is a U.S. nonprofit organization dedicated to creating affordable housing and strengthening communities in Houston, Texas. Established in 1991, it operates as a 501(c)(3) organization, allowing donations to be tax deductible[3][4].

Mission and Vision

The organization's mission is to invest in people, homes, and communities to advance equity and opportunity for all Houstonians[1]. Its vision is for all Houstonians to have the opportunity to live in quality homes within healthy, vibrant, and inclusive neighborhoods[1].

Focus Areas

Avenue CDC focuses on three main areas:

1. Affordable Housing: It provides affordable housing solutions, including single-family homes and rental units, to help low-income families access stable housing[1][5].
2. Financial Stability: The organization assists families in building financial stability through education and counseling programs[3][4].
3. Community Programs: Avenue CDC also implements community initiatives to foster connected, supportive neighborhoods[1].

Impact

Since its inception, Avenue CDC has invested more than $170 million in Houston communities, leading to significant neighborhood revitalization and improved living conditions for thousands of residents[1]. In 2023, the organization reported that it assisted 260 new homeowners through its Homebuyer Education and Counseling program and provided over 20,000 meals to children in Avenue communities[1].

Financial Overview

As of 2023, Avenue CDC's total assets were valued at $87.2 million, with total liabilities of $64.4 million[2]. The organization's revenue for 2023 was approximately $11 million, while expenses were around $13.9 million[2].

Values and Governance

Avenue CDC emphasizes values such as neighborliness, integrity, collaboration, effectiveness, and equity in its operations[1]. The organization's board ensures inclusive practices and conducts regular assessments to maintain governance standards[4].

Equity Strategies

Avenue CDC actively promotes equity by engaging in practices that ensure diverse and inclusive board recruitment, reviewing compensation for disparities, and analyzing program data by demographics[4].