Ed Rachal Foundation
- Assets
- $646.1m
- Revenue
- $106.8m
- Investments
- $245.3m
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 03/1997
- Data as of
- 08/2022
- EIN
- 74-1116595
The information for Ed Rachal Foundation is as of the organization's most recent filing in August '22. This organization is located in Corpus Christi, TX. It has been in existence for 25 years, following its founding in 1997.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Ed Rachal Foundation's NTEE code is X99. The "X" tells us that the organization is classified as Religion-Related. The "99" tells us that the organization falls under the sub-category of Religion-Related N.E.C. The NTEE describes this category as organizations that provide services relating to religion where a more specific code cannot be accurately assigned, including various religious beliefs and references to miracles. The Ed Rachal Foundation is also classified as a 501(c)(3) organization, which means it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.
Program Areas
The organization reports all expenses incurred in developing a retreat center for qualifying civic community and not-for-profit organizations within the general fund. This fund is used for approximately 6,900 people days.
Grant History
Our dataset includes one year of grant history for the Ed Rachal Foundation. In that year, they have awarded two grants, with an average check size of $5,772,183. Unfortunately, we do not have information on the NTEE sector for these awards. However, both grants were awarded in the state of Texas.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Altheide President/ce | 50 | $593,616 | |
Myra K Morris Chief Legal | 40 | $329,887 | |
Michael Hill Comptroller | 40 | $187,548 | |
David Roberts Sr. Architec | 40 | $154,769 | |
Taylor Hunt Sr. Project | 40 | $141,990 | |
John Creedon Cost Analyst | 40 | $122,774 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Savills Inc | 8/30/22 | $727,335 |
Carol Bailey Attorney At Law | 8/30/22 | $120,405 |
John Wallace Real Estate Llc | 8/30/22 | $120,000 |
Republic Ranches | 8/30/22 | $80,000 |
Edr Architects | 8/30/22 | $68,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $44,669 |
| Interest on Savings | $25,425 |
| Dividends & Interest | $6,165,328 |
| Net Rental Income | $4,644,596 |
| Net Gain on Sale of Assets | $1,284,871 |
| Capital Gain Net Income | $1,284,871 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $88,575,099 |
| Total Revenue | $106,764,115 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,143,503 |
| Other employee salaries and wages | $1,257,230 |
| Pension plans, employee benefits | $443,963 |
| Interest | $0 |
| Taxes | $4,332,092 |
| Depreciation | $2,949,169 |
| Occupancy | $398,454 |
| Travel, conferences, and meetings | $86,724 |
| Printing and publications | $10,208 |
| Other expenses | $9,806,971 |
| Total operating and administrative expenses | $21,466,446 |
| Contributions, gifts, grants paid | $18,087,550 |
| Total expenses and disbursements | $39,553,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,954,827 |
| Savings and temporary cash investments | $20,717,977 |
| Net Accounts receivable | $20,155,521 |
| 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 | $2,739,348 |
| Net Investments - land, buildings, equipment | $250,304,709 |
| Investments—mortgage loans | $0 |
| Investments—other | $169,026,851 |
| Net Land, buildings, and equipment | $103,337,511 |
| Other assets | $566,561 |
| Total assets | $646,089,771 |
| Accounts payable and accrued expenses | $7,217,998 |
| Grants payable | $0 |
| Deferred revenue | $631,486 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,475,862 |
| Total liabilities | $10,325,346 |
Grants Awarded
Over the last fiscal year, Ed Rachal Foundation has awarded $11,544,365 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE STATEMENT 25 PURPOSE: SEE STMT | $10,544,365 |
NUECES COUNTY TEXAS PURPOSE: PURCHASE OF LAND | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ed Rachal Foundation has recieved totaling $29,472.
| Awarding Organization | Amount |
|---|---|
Friends Of Corpus Christi Public Libraries Corpus Christi, TX PURPOSE: TO HELP FUND THE PLANETARIUM AND CHILDRENS PROGRAMMING IN THE CORPUS CHRISTI AREA | $29,472 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Rachal Foundation Corpus Christi, TX | $646,089,771 | $106,764,115 |
Glory Of Zion International Ministries Inc Denton, TX | $19,221,752 | $22,884,653 |
Emmaus Calling Inc Lakeway, TX | $82,731,037 | $15,260,002 |
Evelyn Rubenstein Jewish Community Center Of Houston Texas Houston, TX | $63,544,592 | $32,335,855 |
Multi-Faith Retirement Services Live Oak Retirement Center Shreveport, LA | $13,466,156 | $10,872,483 |
Southern Oklahoma Memorial Foundation Inc Ardmore, OK | $106,106,910 | $11,493,167 |
El Paso Center For Children Inc El Paso, TX | $2,932,170 | $7,098,518 |
Adult & Teen Challenge Of Texas San Antonio, TX | $11,283,106 | $8,543,774 |
Project Vida El Paso, TX | $4,738,725 | $6,974,845 |
If Gathering Dallas, TX | $3,452,499 | $4,210,258 |
Ecumenical Center For Religion And Health San Antonio, TX | $7,342,387 | $4,148,621 |
To Every Tribe Los Fresnos, TX | $3,193,524 | $2,946,318 |