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Nonprofiteer
← TFEC PROPERTIES INC

Form 990 for tax year 2024

Filed by TFEC PROPERTIES INC.

Totals

Total revenue
$395,866
Total expenses
$4,407
Contributions and grants received
$390,870
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$4,996
Total assets, end of year
$1,585,451
Total liabilities, end of year
$1,193,992
Net assets or fund balances, end of year
$391,459
Program services expenses (Part IX)
$2,405
Management and general expenses
$2,002
Fundraising expenses
$0
Program service expenses (Part III)
$2,405

Program services were 54.6% 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.

  • 1d · Related organizations

    $390,870

  • 6a · Gross rents

    real property $4,996

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $4,996

  • 6d · Net rental income or loss

    total $4,996 · excluded $4,996

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $4,407 · program services $2,405 · management and general $2,002

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    end of year $10,697

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

    $1,574,754

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,574,754

  • 19 · Deferred revenue

    end of year $9,992

  • 23 · Secured mortgages and notes payable

    end of year $1,184,000

  • 27 · Net assets without donor restrictions

    end of year $391,459

Mission and programs · 2024

Mission

SEE SCHEDULE OTFEC PROPERTIES, INC. ALLOWS TFEC TO RECEIVE, HOLD, MANAGE, LEASE, AND OTHERWISE PROCESS REAL ESTATE GIFTS FROM DONORS TO BENEFIT NONPROFIT ORGANIZATIONS. TFEC PROPERTIES, INC. CAN HANDLE CHARITABLE GIFTS OF REAL ESTATE AND CAN EVEN CONSIDER ACCEPTING PART SALE/PART GIFT TRANSACTIONS, SUCH AS REAL ESTATE WITH A SMALL MORTGAGE STILL TO BE PAID. TFEC PROPERTIES, INC. CAN ALSO RECEIVE REAL ESTATE IN VARIOUS ARRANGEMENTS LIKE GIFT UNITRUSTS, WHICH ADDRESS THE ONGOING INTERESTS AND INCOME NEEDS OF THE DONOR IN THEIR LIFETIME TO MAKE THE CHARITABLE GIFT NOW AND IN THE FUTURE.

Activities or mission (Part I)

TFEC PROPERTIES, INC. ALLOWS TFEC TO RECEIVE, HOLD, MANAGE, LEASE, AND OTHERWISE PROCESS REAL ESTATE GIFTS FROM DONORS TO BENEFIT NONPROFIT ORGANIZATIONS. TFEC PROPERTIES, INC. CAN HANDLE CHARITABLE GIFTS OF REAL ESTATE AND CAN EVEN CONSIDER ACCEPTING PART SALE/PART GIFT TRANSACTIONS, SUCH AS REAL ESTATE WITH A SMALL MORTGAGE STILL TO BE PAID. TFEC PROPERTIES, INC. CAN ALSO RECEIVE REAL ESTATE IN VARIOUS ARRANGEMENTS LIKE GIFT UNITRUSTS, WHICH ADDRESS THE ONGOING INTERESTS AND INCOME NEEDS OF THE DONOR IN THEIR LIFETIME TO MAKE THE CHARITABLE GIFT NOW AND IN THE FUTURE.

  • PURCHASE AND LEASEBACK OF PROPERTY ACQUIRED IN 2024.

    Expenses $2,405

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert C Grubic

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Daniel Alderman Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Joy Daniels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • J Stephen Feinour Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Steve Hawbecker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Gary L Nalbandian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Lane Schultz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Neal S West Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
24 March 2025
IRS schema version
2024v5.1
Source object
202540839349300004

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