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Nonprofiteer
← TG 305 INC

Form 990 for tax year 2023

Filed by TG 305 INC.

Totals

Total revenue
$422,913
Total expenses
$473,412
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$418,218
Investment income
$73
Other revenue
$4,622
Total assets, end of year
$1,238,152
Total liabilities, end of year
$1,275,196
Net assets or fund balances, end of year
-$37,044
Program services expenses (Part IX)
$439,112
Management and general expenses
$34,300
Fundraising expenses
$0
Program service expenses (Part III)
$439,112

Program services were 92.8% 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: TENANT ASSISTANCE PAYM

    total $288,136 · related or exempt $288,136

  • 2b · Program service revenue: TENANT RENTAL INCOME

    total $130,082 · related or exempt $130,082

  • 3 · Investment income

    total $73 · excluded $73

  • 11a · Other revenue: TENANT CHARGES

    total $3,797 · related or exempt $3,797

  • 11b · Other revenue: LAUNDRY & VENDING REVE

    total $825 · related or exempt $825

  • 11e · Other revenue, total

    $4,622

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $52,748 · program services $49,815 · management and general $2,933

  • 9 · Other employee benefits

    total $10,619 · program services $10,619

  • 10 · Payroll taxes

    total $4,388 · program services $4,388

  • 11a · Fees: management

    total $25,071 · management and general $25,071

  • 11b · Fees: legal

    total $397 · program services $397

  • 11c · Fees: accounting

    total $13,697 · program services $10,979 · management and general $2,718

  • 11g · Fees: other

    total $20,950 · program services $20,950

  • 12 · Advertising and promotion

    total $687 · program services $687

  • 13 · Office expenses

    total $17,883 · program services $17,883

  • 16 · Occupancy

    total $147,680 · program services $147,680

  • 19 · Conferences, conventions and meetings

    total $1,188 · program services $1,188

  • 22 · Depreciation, depletion and amortization

    total $69,723 · program services $69,723

  • 23 · Insurance

    total $3,578 · management and general $3,578

  • 24a · Other expenses: CONTRACTS-MAINTENANCE

    total $79,413 · program services $79,413

  • 24b · Other expenses: SUPPLIES-MAINTENANCE

    total $17,746 · program services $17,746

  • 24c · Other expenses: ADMINISTRATIVE

    total $4,319 · program services $4,319

  • 24d · Other expenses: BAD DEBT

    total $1,750 · program services $1,750

  • 24e · All other expenses

    total $1,575 · program services $1,575

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,310 · end of year $38,507

  • 2 · Savings and temporary cash investments

    beginning of year $13,199 · end of year $13,694

  • 4 · Accounts receivable

    beginning of year $9,244 · end of year $6,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,654 · end of year $14,580

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

    $2,060,878

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

    $1,043,970

  • 10c · Land, buildings and equipment, net

    beginning of year $1,044,452 · end of year $1,016,908

  • 15 · Other assets

    beginning of year $169,668 · end of year $148,462

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,547 · end of year $34,820

  • 19 · Deferred revenue

    beginning of year $3,498 · end of year $2,519

  • 21 · Escrow or custodial account liability

    beginning of year $11,727 · end of year $11,610

  • 23 · Secured mortgages and notes payable

    beginning of year $736,473 · end of year $694,935

  • 25 · Other liabilities

    beginning of year $450,827 · end of year $531,312

  • 27 · Net assets without donor restrictions

    beginning of year $13,455 · end of year -$37,044

Mission and programs · 2023

Mission

THE ORGANIZATION WAS INCORPORATED AS A NONPROFIT CORPORATION IN THE STATE OF TEXAS ON OCTOBER 10, 2001. THE MISSION OF THE ORGANIZATION IS TO PRESERVE AFFORDABLE HOUSING FOR FAMILIES, TO PROMOTE A STRONG RESIDENT COMMUNITY, AND TO ASSIST RESIDENTS TO ACHIEVE SOCIAL AND ECONOMIC INDEPENDENCE. THE PRIMARY ACTIVITY OF THE ORGANIZATION IS THE OWNERSHIP AND OPERATION OF THE MEADOW PARK VILLAGE APTS, A 36-UNIT APARTMENT COMPLEX LOCATED AT 1200 MEADOW PARK, LOCKHART, TX 78644 FOR THE BENEFIT OF VERY LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINS A U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) PROPERTY BASED SECTION 8 HOUSING ASSISTANCE PAYMENT (HAP) RENTAL ASSISTANCE CONTRACT FOR ALL 36 UNITS. THE HAP RENT ASSISTED UNITS ARE MADE AVAILABLE TO FAMILIES AND INDIVIDUALS WITH INCOMES OF LESS THAN 30% OF AREA MEDIAN INCOME.

Activities or mission (Part I)

AS A CHARITY, PROVIDES LOW-INCOME HOUSING AND RESIDENT SOCIAL AND EDUCATIONAL SERVICES.

  • DURING THE REPORTING PERIOD, THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE ALL 36 UNITS AVAILABLE FOR LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF HUD.THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION. CALDWELL COUNTY, TEXAS APPRAISAL DISTRICT 100% PROPERTY TAX EXEMPTION. STATE OF TEXAS FRANCHISE TAX EXEMPTION.STATE OF TEXAS SALES TAX EXEMPTION.THE ORGANIZATION CONTINUED TO OPERATE AN ON-SITE HUD CERTIFIED NEIGHBORHOOD NETWORKS CENTER AT WHICH THE ORGANIZATION PROVIDED PROGRAMS, ACTIVITIES, AND SERVICES FOR THE YOUTH AND ADULT RESIDENTS AND SURROUNDING COMMUNITY. PROGRAMS, ACTIVITIES, AND SERVICES INCLUDED:CASE MANAGEMENT (INFORMAL) AND REFERRAL SERVICES AFTER-SCHOOL YOUTH PROGRAMON-LINE COMPUTER ACCESS AND TRAININGHEALTH FAIRSFINANCIAL LITERACY CLASSES JOB SKILLS CLASSESNATIONAL NIGHT OUT AND HOLIDAY CELEBRATIONS.

    Expenses $439,112 · Revenue $422,840

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BEVERLY HAUG

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • EDGAR CHAMBERS

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • ESTOLLEA ARIAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • MARY LOU WALKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • SUE GAIL CROUCH

    ASSISTANT SECRETARY (OUTGOING)

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • JACLYN S WOODRING

    EXECUTIVE DIRECTOR

    Total calculated
    $317,976
    From this org
    $0
    From related orgs
    $297,100
    Other
    $20,876
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,000 related
    Bonus
    $0 + $37,100 related
    Other
    $0 + $10,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $20,876 related
    Filer's total
    $0 + $317,976 related

  • JAMES BUTCHER

    MANAGEMENT AGENT CFO

    Total calculated
    $204,819
    From this org
    $0
    From related orgs
    $198,090
    Other
    $6,729
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,443 related
    Bonus
    $0 + $25,647 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,729 related
    Filer's total
    $0 + $204,819 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
HOUSING AND COMMUNITY SERVICES, INC. (HCS), IS A RELATED 501(C)(3) TAX EXEMPT ORGANIZATION THAT PROVIDES OVERSIGHT SERVICES AND RESIDENT SERVICES COORDINATION TO THE ORGANIZATION. HCS MAINTAINS CONTROL OF THE ORGANIZATION BY ITS POWER TO APPOINT THE MAJORITY OF THE MEMBERS OF THE BOARD. THE EXECUTIVE DIRECTOR (ED) OF HCS ALSO SERVES AS THE UNCOMPENSATED ED OF THE ORGANIZATION. THE HCS BOARD OF DIRECTORS ESTABLISHES A COMPENSATION COMMITTEE ANNUALLY TO REVIEW COMPENSATION FOR THE ED. NONE OF THE ED COMPENSATION IS PAID BY THE ORGANIZATION. WEDGE MANAGEMENT, INC. (WMI) IS A RELATED TAXABLE CORPORATION THAT PROVIDES PROPERTY MANAGEMENT AND ACCOUNTING SERVICES TO THE ORGANIZATION. THE ED OF THE ORGANIZATION IS ALSO THE CEO OF WMI. TOGETHER HCS, WMI, AND THREE OTHER HCS ASSOCIATES PAY THE COMPENSATION AND BENEFITS (C&B) FOR THE ED. THE CHIEF FINANCIAL OFFICER (CFO) FOR HCS & WMI ALSO SERVES AS THE UNCOMPENSATED CFO FOR THE ORGANIZATION. HCS PAYS THE C&B FOR THE CFO. THE ED WITH OVERSIGHT FROM THE HCS COMPENSATION COMMITTEE ANNUALLY REVIEWS THE COMPENSATION FOR THE CFO. NONE OF THE CFO COMPENSATION IS PAID BY THE ORGANIZATION. THE ORGANIZATION HAS ELECTED TO USE OPTION 1 (FORM W-2 METHOD) TO REPORT THE C&B OF THE ED AND CFO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • HCS HOUSTON HOUSE INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • HOUSING AND COMMUNITY SERVICES INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 102 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 104 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 105 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 106 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 107 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 108 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 109 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 110 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 301 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 302 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 303 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 304 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

  • TG 306 INC

    501(C)(3) · LOW-INCOME HOUSING · TX

    Directly controlled by HCS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349301857

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