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Nonprofiteer
← GREATER TEXAS SERVICES INC

Form 990 for tax year 2024

Filed by GREATER TEXAS SERVICES INC.

Totals

Total revenue
$2,080,920
Total expenses
$495,559
Contributions and grants received
$0
Grants paid
$20,383
Program service revenue
$1,540,127
Investment income
$540,793
Other revenue
$0
Total assets, end of year
$30,806,309
Total liabilities, end of year
$459,421
Net assets or fund balances, end of year
$30,346,888
Program services expenses (Part IX)
$316,572
Management and general expenses
$178,987
Fundraising expenses
$0
Program service expenses (Part III)
$316,572

Program services were 63.9% 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: STUDENT LOANS

    total $1,540,127 · related or exempt $1,540,127

  • 3 · Investment income

    total $296,997 · unrelated business -$3,052 · excluded $300,049

  • 7a · Gross sales of assets other than inventory

    securities $873,598

  • 7b · Less cost or other basis and sales expenses

    securities $629,802

  • 7c · Gain or loss

    securities $243,796

  • 7d · Net gain or loss

    total $243,796 · excluded $243,796

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,383 · program services $20,383

  • 5 · Compensation of officers, directors and key employees

    total $4,000 · management and general $4,000

  • 6 · Compensation of disqualified persons

    total $27,026 · management and general $27,026

  • 11b · Fees: legal

    total $3,763 · management and general $3,763

  • 11c · Fees: accounting

    total $51,291 · management and general $51,291

  • 11f · Fees: investment management

    total $17,561 · management and general $17,561

  • 11g · Fees: other

    total $134,673 · program services $134,673

  • 20 · Interest

    total $127,698 · program services $127,698

  • 23 · Insurance

    total $35,846 · management and general $35,846

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $66,318 · program services $26,818 · management and general $39,500

  • 24b · Other expenses: MEMBERSHIP DUES

    total $7,000 · program services $7,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,768 · end of year $19,613

  • 2 · Savings and temporary cash investments

    beginning of year $2,163,168 · end of year $3,429,453

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,930 · end of year $19,914

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

    $39,605

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

    $39,605

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $6,320,150 · end of year $6,638,339

  • 12 · Investments: other securities

    beginning of year $1,709,614 · end of year $1,885,307

  • 13 · Investments: program-related

    beginning of year $23,587,061 · end of year $18,813,683

  • 17 · Accounts payable and accrued expenses

    beginning of year $133,554 · end of year $89,421

  • 18 · Grants payable

    beginning of year $799,117 · end of year $370,000

  • 23 · Secured mortgages and notes payable

    beginning of year $4,730,165 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $28,110,330 · end of year $30,308,363

  • 28 · Net assets with donor restrictions

    beginning of year $41,525 · end of year $38,525

Mission and programs · 2024

Mission

GREATER TEXAS SERVICES' MISSION IS TO ENGAGE IN EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF STUDENTS IN THE STATE OF TEXAS AND PROVIDE FUNDING TO ANY STUDENT THROUGH LOANS, SCHOLARSHIPS AND OTHER MEANS.

  • GREATER TEXAS SERVICES SUPPORTS THE FINANCING OF EDUCATION BY PARTICIPATING IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM AS A DOWNSTREAM HOLDER OF STUDENT LOANS. THE TOTAL PORTFOLIO AS OF DECEMBER 31, 2024 WAS APPROXIMATELY $18,813,683. GTS PLANS TO HOLD THESE LOANS THROUGH THE BORROWERS' REPAYMENT CYCLE.

    Expenses $296,189 · Revenue $1,540,127

  • GTS PROVIDES NEED-BASED SCHOLARSHIP SUPPORT TO HISTORICALLY BLACK COLLEGES AND UNIVERSITIES IN THE STATE OF TEXAS FOR THE BENEFIT OF THEIR UNDERGRADUATE STUDENTS.

    Expenses $10,883 · Grants $10,883

  • GTS AWARDS SCHOLARSHIPS TO HIGH SCHOOL GRADUATES SEEKING HIGHER EDUCATION. THROUGH ITS SCHOLARSHIP PROGRAMS IN 2024 GTS DISTRIBUTED A NET OF $9,500 TO EDUCATIONAL ORGANIZATIONS TO PROVIDE SCHOLARSHIPS FOR APPROXIMATELY 18 STUDENTS.

    Expenses $9,500 · Grants $9,500

As filed on the 2024 return.

Listed in Part VII

  • Mr Ralph B Rushing

    DIRECTOR

    Total calculated
    $41,000
    From this org
    $0
    From related orgs
    $41,000
    Other
    $0
    Hours/week
    1 + 4.47 related

  • Dr Donald Thompson

    DIRECTOR

    Total calculated
    $37,000
    From this org
    $0
    From related orgs
    $37,000
    Other
    $0
    Hours/week
    1 + 3.19 related

  • Mr Bill Youngkin

    DIRECTOR

    Total calculated
    $37,000
    From this org
    $0
    From related orgs
    $37,000
    Other
    $0
    Hours/week
    1 + 0.98 related

  • Mrs Janet Handley

    DIRECTOR (START 11/24)

    Total calculated
    $14,250
    From this org
    $0
    From related orgs
    $14,250
    Other
    $0
    Hours/week
    1 + 0.16 related

  • Dr Terry Jones

    PRESIDENT

    Total calculated
    $37,000
    From this org
    $4,000
    From related orgs
    $33,000
    Other
    $0
    Hours/week
    1 + 1.32 related

  • Dr Alonza Sosa

    DIRECTOR

    Total calculated
    $37,000
    From this org
    $0
    From related orgs
    $37,000
    Other
    $0
    Hours/week
    1 + 2.86 related

  • Dr Samuel Gillespie

    DIRECTOR (TERM 7/24)

    Total calculated
    $18,500
    From this org
    $0
    From related orgs
    $18,500
    Other
    $0
    Hours/week
    1 + 2.41 related

  • Mr Ad James Jr

    VICE PRESIDENT

    Total calculated
    $33,000
    From this org
    $0
    From related orgs
    $33,000
    Other
    $0
    Hours/week
    1 + 2.53 related

  • Mrs Judy Holt

    SECRETARY

    Total calculated
    $33,000
    From this org
    $0
    From related orgs
    $33,000
    Other
    $0
    Hours/week
    1 + 0.65 related

  • Sue McMillin

    ASST VICE PRES

    Total calculated
    $374,902
    From this org
    $0
    From related orgs
    $340,385
    Other
    $34,517
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $340,385 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,917 related
    Nontaxable benefits
    $0 + $600 related
    Filer's total
    $0 + $374,902 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

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

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
28 October 2025
IRS schema version
2024v5.2
Source object
202523109349303227

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