Municipal Advisory Council Of Texas
- Assets
- $11.3m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 34
- Location
- Austin, TX
- Founding
- 01/1982
- Data as of
- 10/2023
- EIN
- 74-1213601
Organization Overview
Municipal Advisory Council Of Texas is located in Austin, TX. The organization was established in 1982. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 10/2023, Municipal Advisory Council Of Texas employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Municipal Advisory Council Of Texas is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 10/2023, Municipal Advisory Council Of Texas generated $5.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $5.3m during the year ending 10/2023. While expenses have increased by 5.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MAC IS THE ONLY SOURCE, IN TEXAS, OF COMPREHENSIVE FINANCIAL INFORMATION REGARDING MUNICIPAL DEBT ISSUERS. ITS INFORMATION SERVICES PROVIDE BENEFITS TO ISSUERS, BROKER-DEALERS, INVESTORS, STATE GOVERNMENT AND THE CITIZENS OF TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEXAS MUNICIPAL REPORTS - THE MAC PUBLISHES AND REGULARLY UPDATES NEARLY 5,000 TEXAS MUNICIPAL REPORTS (TMRS), WHICH ARE A COLLECTION OF FINANCIAL AND ECONOMIC DATA ON EACH STATE AGENCY AND LOCAL GOVERNMENT ISSUER. EACH TMR INCLUDES, AT A MINIMUM, AN ISSUER'S OUTSTANDING DEBT AND DEBT SERVICE SCHEDULE, ITS BASIC FINANCIAL OPERATING STATEMENTS, ITS ECONOMIC BACKGROUND, AND A LIST OF ITS FINANCE-RELATED OFFICIALS. THE TMRS ALSO INCLUDE VITAL TAX INFORMATION FOR ISSUERS WITH TAX-SUPPORTED DEBT. TO FACILITATE TMR PRODUCTION, MAC ANALYSTS UTILIZE DATA FROM AUDITS, CONTINUING DISCLOSURE FILINGS, OFFICIAL STATEMENTS, COUNTY APPRAISAL DISTRICTS, THE STATE COMPTROLLER'S OFFICE, AND VARIOUS WEBSITES. THE MAC USES THE INFORMATION FROM ISSUERS WITH OVERLAPPING JURISDICTIONS TO CALCULATE THEIR OVERLAPPING TAX-SUPPORTED DEBT BURDENS. TMRS AND ADDITIONAL INFORMATION, SUCH AS BOND RATINGS, TRADE DATA FROM THE MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB) AND ASSOCIATED DOCUMENTS, ARE AVAILABLE ON-LINE AND ARE UPDATED BY THE MAC DAILY.
TEXAS BOND REPORTER - THE MAC PUBLISHES THE TEXAS BOND REPORTER, A WEEKLY MAGAZINE THAT PROVIDES THE UPCOMING WEEK'S COMPETITIVE AND NEGOTIATED SALE CALENDAR, SCHEDULED BOND ELECTIONS, MATERIAL EVENT NOTICES, AND OTHER TIMELY ISSUER UPDATES. THE TEXAS BOND REPORTER QUALIFIES AS A FINANCIAL JOURNAL PUBLISHED IN THE STATE FOR PURPOSES OF LAWS AND BOND COVENANTS REQUIRING PUBLICATION OF NOTICES. THE MAC PUBLISHES ISSUER NOTICES WITHOUT CHARGE.
SERVICE TO STATE AGENCIES - MAC SUPPLIES INFORMATION REGARDING TEXAS MUNICIPAL DEBT ISSUERS TO SEVERAL STATE AGENCIES FOR USE IN RELATED PROGRAMS - THE TEXAS WATER DEVELOPMENT BOARD, WHICH RUNS A STATE BOND BANK TO FINANCE WATER RESOURCE AND CLEANWATER PROJECTS BY PURCHASING LOCAL GOVERNMENT DEBT ISSUED FOR THAT PURPOSE; THE TEXAS EDUCATION AGENCY, WHICH MANAGES A FINANCIAL GUARANTY PROGRAM FOR SCHOOL DISTRICT DEBT BACKED BY THE STATE'S PERMANENT SCHOOL FUND (PSF); AND THE TEXAS PUBLIC FINANCE AUTHORITY, WHICH PROVIDES FINANCING FOR THE CONSTRUCTION OR ACQUISITION OF FACILITIES FOR STATE AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danielle Cody Immediate Past Chairman | OfficerTrustee | 1 | $0 |
Derek Honea Trustee | Trustee | 1 | $0 |
Mark Mcgruder Chairman | OfficerTrustee | 2 | $0 |
Desrye Morgan Trustee | Trustee | 1 | $0 |
Ester Flores Trustee | Trustee | 1 | $0 |
Donald Gonzales Vice Chairman | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,171,495 |
| Investment income | $380,960 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,601,038 |
| 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. | $1,122,847 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,024,215 |
| Pension plan accruals and contributions | $97,438 |
| Other employee benefits | $263,925 |
| Payroll taxes | $203,283 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $81,675 |
| Advertising and promotion | $127,724 |
| Office expenses | $75,573 |
| Information technology | $161,323 |
| Royalties | $0 |
| Occupancy | $154,291 |
| Travel | $41,648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $442,169 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,709 |
| Insurance | $49,792 |
| All other expenses | $0 |
| Total functional expenses | $5,308,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,825 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $510,978 |
| 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 | $308,725 |
| Net Land, buildings, and equipment | $916,231 |
| Investments—publicly traded securities | $9,221,493 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,338,252 |
| Accounts payable and accrued expenses | $554,086 |
| Grants payable | $0 |
| Deferred revenue | $112,644 |
| 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 | $318,536 |
| Total liabilities | $985,266 |
| Net assets without donor restrictions | $10,352,986 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,338,252 |