Erf Real Estate Inc
- Assets
- $14.9m
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 09/2015
- Data as of
- 08/2019
- EIN
- 47-4191656
Organization Overview
Erf Real Estate Inc is located in Corpus Christi, TX. The organization was established in 2015. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Erf Real Estate Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
THIS ORGANIZATION WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO REAL ESTATE, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO AN ORGANIZATION EXEMPT FROM TAXATION UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. AT THE TIME OF ITS FORMATION, THE ORGANIZATION WAS A TITLE HOLDING COMPANY OF THE ED RACHAL FOUNDATION (EIN: 74-1116595), A SECTION 501(C)(3) PRIVATE FOUNDATION. AS EXPLAINED BELOW, THE ED RACHAL FOUNDATION RESTRUCTURED ITS RELATIONSHIPS TO ITS TITLE HOLDING COMPANIES DURING THE TAXABLE YEAR; CONSEQUENTLY, THIS ORGANIZATION IS NOW A TITLE HOLDING COMPANY OF ERF REAL ESTATE, INC. (EIN: 20-2661759), A SECTION 501(C)(2) TITLE HOLDING COMPANY. ERF TOWER II, INC. REMAINS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ERF REAL ESTATE, INC. ATTACHED ARE TRUE AND CORRECT COPIES OF THE CERTIFICATES OF FILING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO REAL ESTATE, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ERF REAL ESTATE, INC. (EIH: 20-2661759), A SECTION 501(C)(2) TITLE HOLDING COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Altheide President | OfficerTrustee | 2 | $0 |
E Richard Schendel Asst. Treasu | OfficerTrustee | 1 | $0 |
David L Hoyer Board Chairm | OfficerTrustee | 1 | $0 |
John J Johnson Secretary/tr | OfficerTrustee | 1 | $0 |
Kenneth W Trawick Board Vice C | OfficerTrustee | 1 | $0 |
Myra K Morris Chief Legal | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$581,532 |
| 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 | $0 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,052 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,053 |
| 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 | $158,448 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,903,571 |
| Accounts payable and accrued expenses | $232,976 |
| Grants payable | $0 |
| Deferred revenue | $7,600 |
| 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 | $41,933 |
| Total liabilities | $282,509 |
| Net assets without donor restrictions | $14,621,062 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $14,621,062 |
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