Grand Central Texas Dev Corporation
- Assets
- $10.3m
- Revenue
- $3.7m
- Investments
- $145.0k
- Employees
- 0
- Location
- Austin, TX
- Founding
- 04/2001
- Data as of
- 06/2022
- EIN
- 31-1748289
Organization Overview
Grand Central Texas Dev Corporation is located in Austin, TX. The organization was established in 2001. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Grand Central Texas Dev Corporation 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 06/2022, Grand Central Texas Dev Corporation generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.9% each year . All expenses for the organization totaled $568.9k during the year ending 06/2022. While expenses have increased by 5.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DECENT AND AFFORDABLE HOUSING FOR LOWER INCOME RESIDENTS, INCLUDING MINORITIES, WOMEN, ELDERLY AND THE HANDICAPPED AND ACQUIRE IMPROVED AND UNIMPROVED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT - LEASE MULTI-FAMILY DEVELOPMENTS, ASSIST BOARD OF DIRECTORS WITH CAPACITY BUILDING, PROVIDE TRAINING FOR ON SITE PROPERTY MANAGERS, DEVELOP FORMAL INTERNAL POLICIES & PROCEDURES FOR PROPERTY MANAGEMENT, DEVELOP TENANT SERVICES (MANUAL, ACTIVITIES, AND COMMUNICATIONS). WE ALSO ASSIST COMMUNITIES, AT NO COST, WITH AFFORDABLE HOUSING SOLUTIONS AND SOLICIT GRANTS FOR RENT SUBSIDIES AND COMMUNITY FACILITIES.
BUSINESS DEVELOPMENT - THE ORGANIZATION PROCESSES AND SERVICES SBA LOANS FOR SMALL BUSINESSES THAT DO NOT QUALIFY FOR CONVENTIONAL FINANCING. IN ADDITION, LOANS ARE MADE TO SMALL BUSINESSES FROM GRANT FUNDS AND CONTRIBUTIONS FROM VARIOUS BUSINESSES AND LOCAL GOVERNMENTS AS WELL AS INTEREST EARNINGS AND PRINCIPAL RETURNED TO THE LOAN FUND POOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosa Rios Valdez President | Officer | 12 | $0 |
David Salinas Chairman | Trustee | 1 | $0 |
William Sutherland Treasurer | Trustee | 1 | $0 |
Andres Garza Jr Vice Chair | Trustee | 1 | $0 |
Stacy Bowers 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 | $472,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $472,580 |
| Total Program Service Revenue | $491,223 |
| Investment income | $14,092 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,674,197 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,652,092 |
| 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 | $95,340 |
| Pension plan accruals and contributions | $3,485 |
| Other employee benefits | $6,547 |
| Payroll taxes | $7,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,732 |
| Fees for services: Accounting | $17,524 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,385 |
| Advertising and promotion | $0 |
| Office expenses | $38,488 |
| 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 | $143,832 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,359 |
| Insurance | $28,552 |
| All other expenses | $0 |
| Total functional expenses | $568,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,930 |
| Savings and temporary cash investments | $4,694,751 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,718 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $709,309 |
| Inventories for sale or use | $880,419 |
| Prepaid expenses and deferred charges | $11,089 |
| Net Land, buildings, and equipment | $3,284,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $145,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,047 |
| Total assets | $10,295,372 |
| Accounts payable and accrued expenses | $94,294 |
| 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 | $2,032,393 |
| Unsecured mortgages and notes payable | $417,202 |
| Other liabilities | $473,964 |
| Total liabilities | $3,017,853 |
| Net assets without donor restrictions | $6,975,478 |
| Net assets with donor restrictions | $302,041 |
| 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 | $10,295,372 |
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