Tac East Holdings Company No 1
- Assets
- $6.4m
- Revenue
- $450.4k
- Investments
- $0.0
- Employees
- 0
- Location
- New Boston, TX
- Founding
- 05/2016
- Data as of
- 09/2023
- EIN
- 47-4590611
Organization Overview
Tac East Holdings Company No 1 is located in New Boston, TX. The organization was established in 2016. 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 an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 09/2023, Tac East Holdings Company No 1 generated $450.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $291.1k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS A TITLE HOLDING COMPANY FOR TEXAMERICAS CENTER, A POLITICAL SUBDIVISION OF THE STATE OF TEXAS, PURSUANT TO THE AUTHORITY SET FORTH IN SECTION 3503.111 OF THE SPECIAL DISTRICT LOCAL LAWS CODE OF THE STATE OF TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CURRENTLY HAS ONE MISSION AND THAT IS TO ACT AS A TITLE HOLDING COMPANY FOR TEXAMERICAS CENTER. FOR ALL TWELVE MONTHS OF THE FISCAL YEAR ENDED SEPTEMBER 30, 2023 THE ORGANIZATION FULFILLED THAT MISSION BY MAINTAINING AND LEASING PROPERTY TRANSFERRED TO IT BY TEXAMERICAS CENTER. THE ORGANIZATION'S PROGRAM ACTIVITY IS REFLECTED IN THE COLLECTION OF 609,009 IN LEASE REVENUE AND THE EXPENDITURE OF 296,941 IN THE MANAGEMENT, MAINTENANCE AND IMPROVEMENT OF THIS PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William S Norton President | Officer | 2 | $0 |
Eric Voyles Vice Preside | Officer | 14 | $0 |
Jeffery D Whitten Key Employee | Officer | 6 | $0 |
John T Sesler Key Employee | Officer | 0 | $0 |
John Moran Treasurer | Officer | 0.5 | $0 |
Darrell Thompson Highly Compe | 0 | $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 | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $294,917 |
| Net Gain/Loss on Asset Sales | $155,498 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $450,415 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $266,821 |
| Fees for services: Legal | $10,005 |
| Fees for services: Accounting | $14,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2 |
| 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 | $220 |
| All other expenses | $0 |
| Total functional expenses | $291,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $913,386 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,149 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,052,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,421,930 |
| Total assets | $6,412,444 |
| Accounts payable and accrued expenses | $949 |
| 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 | $1,244,699 |
| Total liabilities | $1,245,648 |
| Net assets without donor restrictions | $1,113,817 |
| Net assets with donor restrictions | $4,052,979 |
| 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 | $6,412,444 |