La Merced Charitable Trust is located in Brownsville, TX. The organization was established in 1971. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 02/2022, LA Merced Charitable Trust employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. LA Merced Charitable Trust is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 02/2022, LA Merced Charitable Trust generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $5.6m during the year ending 02/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE 100 HOMES FOR LOW AND MODERATE INCOME FAMILIES UNDER SECTION 8 OF THE NATIONAL HOUSING ACT, REGULATED BY HUD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Raquel Turrubiates Interim Coordinator | Officer | 20 | $8,750 |
Linda V Alaniz Vice-Chairperson | OfficerTrustee | 1 | $0 |
Jose L Gonzalez Chairman | OfficerTrustee | 1 | $0 |
Rev Eduardo Ortega Trustee | Trustee | 1 | $0 |
Bishop Mario Aviles Trustee | Trustee | 1 | $0 |
Ricardo Garcia Trustee | Trustee | 1 | $0 |
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 | $459,655 |
Investment income | $27 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,034,427 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,498,919 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $4,926,142 |
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. | $8,750 |
Compensation of current officers, directors, key employees. | $562 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $100,546 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $16,196 |
Payroll taxes | $8,394 |
Fees for services: Management | $0 |
Fees for services: Legal | $22,020 |
Fees for services: Accounting | $31,580 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $3,990 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $22,089 |
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 | $22,024 |
Insurance | $48,448 |
All other expenses | $294,002 |
Total functional expenses | $5,552,628 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $667,720 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $145,476 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $813,196 |
Accounts payable and accrued expenses | $70,123 |
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 | $0 |
Total liabilities | $70,123 |
Net assets without donor restrictions | $743,073 |
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 | $813,196 |
Organization Name | Assets | Revenue |
---|---|---|
Leta Mcfarlin Chapman Memorial Tr Tulsa, OK | $288,782,253 | $9,376,594 |
Nancy Ann Hunt Foundation Dallas, TX | $31,623,544 | $3,101,295 |
Don & Sybil Harrington Foundation Amarillo, TX | $137,610,156 | $21,691,315 |
John G Kenedy Jr Charitable Trust San Antonio, TX | $156,709,366 | $16,142,301 |
Bnsf Foundation Fort Worth, TX | $5,580,534 | $10,145,505 |
Walter S & Evan C Jones Trust Bank Iv Kansas Na Ttee Dallas, TX | $63,158,301 | $11,519,606 |
Thomas M & Helen Mckee & John P Ryan Foundation Inc Fort Worth, TX | $135,188,288 | $6,250,331 |
Charles G Woodward Tr Uw Dallas, TX | $129,576,152 | $18,439,245 |
John G Kenedy Jr Charitable Tr -Surface Estate Tr San Antonio, TX | $47,111,872 | $10,559,440 |
Mccombs Enterprises Flexible Benefit Cafeteria Plan & Trust San Antonio, TX | $5,330,904 | $6,919,349 |
J A & Leta M Chapman Tr 10267 Tulsa, OK | $125,788,673 | $4,652,723 |
David M Crowley Foundation Dallas, TX | $161,428,863 | $16,560,741 |