Las Villas De Magnolia Inc
- Assets
- $3.7m
- Revenue
- $347.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 08/2005
- Data as of
- 12/2021
- EIN
- 20-3168458
Organization Overview
Las Villas De Magnolia Inc is located in Houston, TX. The organization was established in 2005. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Las Villas DE Magnolia Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Las Villas DE Magnolia Inc generated $347.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $577.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SENIOR CITIZEN HOUSING, ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT PRIMARILY IN HOUSTON'S HISPANIC NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE DECENT, SAFE AND AFFORDABLE HOUSING TO VERY LOW AND LOW INCOME ELDERLY PEOPLE BY DEVELOPING, OWNING, LEASING, OPERATING, RENOVATING, FINANCING AND DISPOSING OF THE LAS VILLAS DE MAGNOLIA HOUSING PROJECT AT 7123 HARRISBURG IN THE CITY OF HOUSTON, AND DOING ALL THINGS INCIDENT TO THE OWNERSHIP OF SUCH PROJECT. 75 UNITS WERE PLACED IN SERVICE IN 2008.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Clementi Chairman | OfficerTrustee | 10 | $0 |
Gary Flores Vice Chairman | Trustee | 1 | $0 |
Carlos Alvarez Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $346,884 |
| Investment income | $351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $347,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,102 |
| Payroll taxes | $10,343 |
| Fees for services: Management | $27,324 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $798 |
| Office expenses | $20,292 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $191,133 |
| Insurance | $31,516 |
| All other expenses | $7 |
| Total functional expenses | $577,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,371 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,106 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,981 |
| Net Land, buildings, and equipment | $3,486,223 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $178,358 |
| Total assets | $3,681,039 |
| Accounts payable and accrued expenses | $22,070 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $446,423 |
| Total liabilities | $468,493 |
| Net assets without donor restrictions | -$2,582,754 |
| Net assets with donor restrictions | $5,795,300 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,681,039 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alamo Area Mutual Housing Association Inc San Antonio, TX | $51,706,215 | $15,020,368 |
Community Development Corporation Of Brownsville Inc Brownsville, TX | $63,084,439 | $14,190,282 |
Merced Housing Texas San Antonio, TX | $50,611,683 | $9,858,961 |
Trinity Affordable Housing Corporation Austin, TX | $27,521,509 | $8,167,693 |
Assisting Texas With Housing Inc Austin, TX | $21,990,420 | $4,581,783 |
Dallas Neighborhood Alliance For Habitat Dallas, TX | $1,401,689 | $4,975,573 |
Tierra Del Sol Housing Corporation Las Cruces, NM | $16,041,382 | $6,574,879 |
Louisiana Housing Assistance Corporation Alexandria, LA | $350,109 | $3,738,733 |
Affordable Community Housing Trust Edmond, OK | $6,149,448 | $2,689,134 |
Lago De Plata Inc Dallas, TX | $0 | $4,971,984 |
St Jude Inc Dallas, TX | $20,844,887 | $6,967,988 |
St Martin De Porres Inc Dallas, TX | $5,546,092 | $2,713,631 |