Texas Inter-Faith Housing Corporati On
- Assets
- $27.3m
- Revenue
- $15.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 02/1968
- Data as of
- 12/2021
- EIN
- 74-1589570
Organization Overview
Texas Inter-Faith Housing Corporati On is located in Houston, TX. The organization was established in 1968. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Inter-Faith Housing Corporati On 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 12/2021, Texas Inter-Faith Housing Corporati On generated $15.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.4% each year . All expenses for the organization totaled $4.9m during the year ending 12/2021. While expenses have increased by 14.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AFFORDABLE HOUSING FOR LOW INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUBSIDIZED HOUSING - LOW INCOME HOUSING PROJECTS FOR THE ELDERLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Veronica Sanders Sec/treasurer | OfficerTrustee | 0 | $0 |
Daniel Jones President | OfficerTrustee | 0 | $0 |
Karen Nelson V. Pres. | OfficerTrustee | 0 | $0 |
Jot Couch Financial Administrator | Officer | 0 | $0 |
Gloria Sanderson Board Member | Trustee | 0 | $0 |
Minal Vyas Board Member | Trustee | 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 | $3,341,149 |
| Investment income | $39,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,824,749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,259,186 |
| 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. | $20,757 |
| Compensation of current officers, directors, key employees. | $20,757 |
| 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 | $177,652 |
| Fees for services: Legal | $79,186 |
| Fees for services: Accounting | $56,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,407 |
| Advertising and promotion | $9,713 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $159,076 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $214,928 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231,753 |
| Insurance | $288,579 |
| All other expenses | $1,457,459 |
| Total functional expenses | $4,883,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,580,113 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $964,852 |
| 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 | $617,165 |
| Net Land, buildings, and equipment | $5,414,478 |
| Investments—publicly traded securities | $11,771,986 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $187,930 |
| Other assets | $3,787,337 |
| Total assets | $27,323,861 |
| Accounts payable and accrued expenses | $644,062 |
| Grants payable | $0 |
| Deferred revenue | $76,559 |
| 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 | $9,782,735 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $89,222 |
| Total liabilities | $10,592,578 |
| Net assets without donor restrictions | $16,731,283 |
| 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 | $27,323,861 |
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