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Nonprofiteer
← TEXAS RURAL COMMUNITIES INC

Form 990 for tax year 2024

Filed by TEXAS RURAL COMMUNITIES INC.

Totals

Total revenue
$306,717
Total expenses
$488,353
Contributions and grants received
$0
Grants paid
$81,730
Program service revenue
$82,406
Investment income
$224,618
Other revenue
-$307
Total assets, end of year
$10,029,083
Total liabilities, end of year
$8,638
Net assets or fund balances, end of year
$10,020,445
Program services expenses (Part IX)
$244,256
Management and general expenses
$244,097
Fundraising expenses
$0
Program service expenses (Part III)
$244,256

Program services were 50.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Rural Leases

    total $82,406 · related or exempt $82,406

  • 3 · Investment income

    total $224,618 · excluded $224,618

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Miscellaneous

    total -$307 · excluded -$307

  • 11e · Other revenue, total

    -$307

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $81,730 · program services $81,730

  • 5 · Compensation of officers, directors and key employees

    total $110,239 · program services $60,632 · management and general $49,607

  • 7 · Other salaries and wages

    total $53,733 · program services $29,553 · management and general $24,180

  • 8 · Pension plan contributions

    total $2,944 · program services $1,619 · management and general $1,325

  • 9 · Other employee benefits

    total $14,767 · program services $8,121 · management and general $6,646

  • 10 · Payroll taxes

    total $11,865 · program services $6,526 · management and general $5,339

  • 11c · Fees: accounting

    total $22,551 · management and general $22,551

  • 11g · Fees: other

    total $2,350 · management and general $2,350

  • 13 · Office expenses

    total $10,410 · program services $2,411 · management and general $7,999

  • 16 · Occupancy

    total $9,554 · management and general $9,554

  • 19 · Conferences, conventions and meetings

    total $56,643 · program services $13,000 · management and general $43,643

  • 22 · Depreciation, depletion and amortization

    total $23,870 · management and general $23,870

  • 23 · Insurance

    total $22,467 · management and general $22,467

  • 24a · Other expenses: Bad Debt Expense

    total $40,664 · program services $40,664

  • 24e · All other expenses

    total $24,566 · program services $0 · management and general $24,566 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $426,879 · end of year $456,446

  • 4 · Accounts receivable

    beginning of year $11,888 · end of year $23,192

  • 7 · Other notes and loans receivable

    beginning of year $1,148,263 · end of year $977,941

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,642 · end of year $4,222

  • 10a · Land, buildings and equipment: cost or other basis

    $635,706

  • 10b · Land, buildings and equipment: accumulated depreciation

    $250,634

  • 10c · Land, buildings and equipment, net

    beginning of year $386,512 · end of year $385,072

  • 11 · Investments: publicly traded securities

    beginning of year $7,600,660 · end of year $8,177,490

  • 15 · Other assets

    beginning of year $4,720 · end of year $4,720

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,258 · end of year $3,918

  • 25 · Other liabilities

    beginning of year $4,720 · end of year $4,720

  • 27 · Net assets without donor restrictions

    beginning of year $9,455,586 · end of year $9,903,445

Mission and programs · 2024

Mission

Texas Rural Communities, Inc. (TRC) makes a long-term commitment to assisting rural communities, individuals, groups, and support organizations in creating, sustaining, and enabling self-sufficient, viable rural development enterprises that improve or maintain the quality of rural life through independent and cooperative ventures.

  • Rural development loans loans are made to rural businesses in defined program areas that meet criteria established by the Board of Directors. Loans for the acquisition of farm and ranch real estate have been made independently by TRC to the agricultural producer and also in cooperation with the Farm Service Agency (FSA). In these participation loans, TRC funds approximately half of the borrower's loan and receives a first lien on the real estate, with the FSA funding the remaining loan and receiving a subordinate lien.

    Expenses $152,849 · Revenue $82,406

  • Expenses $91,407

As filed on the 2024 return.

Listed in Part VII

  • Greg A Akins

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Alfredo Chaparro

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Rolando Salinas

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Socorro Espinoza

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brad Hill

    Director

    Total calculated
    $0
    Hours/week
    1

  • Travis Loe

    Director

    Total calculated
    $0
    Hours/week
    1

  • Fredrick Newhouse

    Director

    Total calculated
    $0
    Hours/week
    1

  • Clayton Wilson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Nora Linares-Moeller

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Martin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lisa Smith

    Executive Director

    Total calculated
    $72,900
    From this org
    $62,427
    From related orgs
    $0
    Other
    $10,473
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
2 March 2026
IRS schema version
2024v5.2
Source object
202620619349300732

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