Ed Rachal Foundation
- Assets
- $723.6m
- Revenue
- $90.1m
- Investments
- $277.6m
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 03/1997
- Data as of
- 08/2023
- EIN
- 74-1116595
Organization Overview
Ed Rachal Foundation is located in Corpus Christi, TX. The organization was established in 1997. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ed Rachal Foundation 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 08/2023, Ed Rachal Foundation generated $90.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $53.5m during the year ending 08/2023. While expenses have increased by 8.9% 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.
Since 2015, Ed Rachal Foundation has awarded 250 individual grants totaling $38,414,217. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN DEVELOPING A RETREAT CENTER FOR QUALIFYING CIVIC COMMUNITY AND NOT-FOR-PROFIT ORGANIZATIONS. USED FOR APPROXIMATELY 6,900 PEOPLE DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Hoyer Board Chairman | 6 | $62,400 | |
Ken W Trawick Vice Board Chairman | 5 | $65,200 | |
John J Johnson Sec/treasurer | 5 | $66,800 | |
Ken L Kellar Director | 5 | $0 | |
Joshua T Gaines Director | 5 | $64,000 | |
David J Morales Director | 5 | $66,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harbor Assets | 8/30/23 | $808,339 |
Brister Surveying Inc | 8/30/23 | $452,988 |
John Wallace Real Estate Llc | 8/30/23 | $152,696 |
Royston Razor Vickery | 8/30/23 | $152,613 |
Wood Boykin Wolter | 8/30/23 | $99,416 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,954 |
| Interest on Savings | $45,900 |
| Dividends & Interest | $8,510,404 |
| Net Rental Income | $6,020,381 |
| Net Gain on Sale of Assets | -$1,288,528 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $70,591,516 |
| Total Revenue | $90,054,904 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,298,778 |
| Other employee salaries and wages | $1,234,743 |
| Pension plans, employee benefits | $376,766 |
| Interest | $0 |
| Taxes | $6,028,354 |
| Depreciation | $4,034,795 |
| Occupancy | $435,238 |
| Travel, conferences, and meetings | $104,030 |
| Printing and publications | $10,188 |
| Other expenses | $12,048,991 |
| Total operating and administrative expenses | $26,606,406 |
| Contributions, gifts, grants paid | $26,869,852 |
| Total expenses and disbursements | $53,476,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $775,181 |
| Savings and temporary cash investments | $4,533,741 |
| Net Accounts receivable | $13,726,749 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,613,669 |
| Net Investments - land, buildings, equipment | $309,189,371 |
| Investments—mortgage loans | $0 |
| Investments—other | $191,586,347 |
| Net Land, buildings, and equipment | $111,709,896 |
| Other assets | $478,795 |
| Total assets | $723,641,857 |
| Accounts payable and accrued expenses | $9,386,304 |
| Grants payable | $0 |
| Deferred revenue | $278,844 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $13,405,691 |
| Total liabilities | $23,070,839 |
Grants Awarded
Over the last fiscal year, Ed Rachal Foundation has awarded $26,869,852 in support to 248 organizations.
| Grant Recipient | Amount |
|---|---|
AGORA MINISTRIES PURPOSE: GENERAL OPERATING (GO) | $75,000 |
AGAPE RANCH PURPOSE: ASSET PURCHASE (AP) | $275,000 |
ALEDO CHILDREN'S ADVOCATS PURPOSE: GO | $10,000 |
ALEDO ISD EDUCATION FOUNDATION PURPOSE: GO | $10,000 |
ADULT & TEEN CHALLENGE OF TEXAS PURPOSE: PROGRAM SUPPORT (PS) | $50,000 |
ALL FIRED UP BENEFIT INC PURPOSE: PS | $25,000 |