Greater Texas Services Inc
- Assets
- $46.7m
- Revenue
- $1.6m
- Investments
- $1.7m
- Employees
- 0
- Location
- Bryan, TX
- Founding
- 08/2005
- Data as of
- 12/2020
- EIN
- 74-2471210
Organization Overview
Greater Texas Services Inc is located in Bryan, TX. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Texas Services Inc 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 12/2020, Greater Texas Services Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $981.3k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (20.1%) per year over the past 3 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
GREATER TEXAS SERVICES' MISSION IS TO ENGAGE IN EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF STUDENTS IN THE STATE OF TEXAS AND PROVIDE FUNDING TO ANY STUDENT THROUGH LOANS, SCHOLARSHIPS AND OTHER MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GTS PROVIDES NEED-BASED SCHOLARSHIP SUPPORT TO HISTORICALLY BLACK COLLEGES AND UNIVERSITIES IN THE STATE OF TEXAS FOR THE BENEFIT OF THEIR UNDERGRADUATE STUDENTS.
GREATER TEXAS SERVICES SUPPPORTS THE FINANCING OF EDUCATION BY PARTICIPATING IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM AS A DOWNSTREAM HOLDER OF STUDENT LOANS. THE TOTAL PORTFOLIO AS OF DECEMBER 31, 2022 WAS APPROXIMATELY $26,721,443. GTS PLANS TO HOLD THESE LOANS THROUGH THE BORROWERS' REPAYMENT CYCLE.
GTS AWARDS SCHOLARSHIPS TO HIGH SCHOOL GRADUATES SEEKING HIGHER EDUCATION. THROUGH ITS SCHOLARSHIP PROGRAMS IN 2022 GTS DISTRIBUTED A NET OF $9,500 TO EDUCATIONAL ORGANIZATIONS TO PROVIDE SCHOLARSHIPS FOR APPROXIMATELY 17 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Mcmillin Asst Vice Pres | Officer | 1 | $0 |
Mr Ralph B Rushing Director | Trustee | 1 | $0 |
Dr Donald Thompson Director | Trustee | 1 | $0 |
Mr Bill Youngkin Director | Trustee | 1 | $0 |
Dr John F Moss Director | Trustee | 1 | $0 |
Dr Terry Jones President | OfficerTrustee | 1 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $136,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $161,101 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,581,000 |
| Statement of Expenses | |
|---|---|
| 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. | $4,000 |
| Compensation to disqualified persons | $16,034 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,667 |
| Fees for services: Accounting | $55,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,070 |
| Fees for services: Other | $325,495 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,578 |
| Interest | $500,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,649 |
| All other expenses | $0 |
| Total functional expenses | $981,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,950 |
| Savings and temporary cash investments | $1,368,510 |
| 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 | $16,069 |
| Investments—publicly traded securities | $6,561,189 |
| Investments—other securities | $1,683,833 |
| Investments—program-related | $37,006,272 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,660,823 |
| Accounts payable and accrued expenses | $130,140 |
| 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 | $20,053,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,183,474 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $26,477,349 |
Grants Awarded
Over the last fiscal year, Greater Texas Services Inc has awarded $330,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
HUSTON-TILLOTSON UNIVERSITY PURPOSE: Support Need Based Scholarships | $35,000 |
JARVIS CHRISTIAN COLLEGE PURPOSE: Support Need Based Scholarships | $35,000 |
PAUL QUINN COLLEGE PURPOSE: Support Need Based Scholarships | $20,000 |
SOUTHWESTERN CHRISTIAN COLLEG PURPOSE: Support Need Based Scholarships | $20,000 |
ST PHILIPS COLLEGE PURPOSE: Support Need Based Scholarships | $50,000 |
TEXAS COLLEGE PURPOSE: Support Need Based Scholarships | $35,000 |