La Merced Charitable Trust
- Assets
- $813.2k
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Brownsville, TX
- Founding
- 02/1971
- Data as of
- 02/2022
- EIN
- 74-1617905
Organization Overview
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 5 years, it has increased revenue by an average of 40.9% 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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raquel Turrubiates Interim Coordinator | Officer | 20 | $8,750 |
Rev Eduardo Ortega Trustee | Trustee | 1 | $0 |
Linda V Alaniz Vice-Chairperson | OfficerTrustee | 1 | $0 |
Jose L Gonzalez Chairman | OfficerTrustee | 1 | $0 |
Ricardo Garcia Trustee | Trustee | 1 | $0 |
Bishop Mario Aviles Trustee | Trustee | 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 | $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 |