Tg 110 Inc
- Assets
- $22.6m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 11/2002
- Data as of
- 12/2023
- EIN
- 74-2699492
Organization Overview
Tg 110 Inc is located in San Antonio, TX. The organization was established in 2002. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Tg 110 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 12/2023, Tg 110 Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 1.3% per year over the past 8 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
AS A CHARITY, PROVIDES LOW-INCOME HOUSING AND RESIDENT SOCIAL AND EDUCATIONAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION. NUECES COUNTY, TEXAS, APPRAISAL DISTRICT PROPERTY TAX EXEMPTIONS. TATE OF TEXAS FRANCHISE TAX EXEMPTION. STATE OF TEXAS SALES TAX EXEMPTION.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 VILLAGE AT GREENWOOD GP, LLC THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 69-UNIT VILLAGE AT GREENWOOD APARTMENTS. THE PROJECT COMPLETED CONSTRUCTION IN 2022. A TEXAS GENERAL OFFICE CONSTRUCTION GRANT PROVIDED THE PRIMARY CONSTRUCTION FUNDING.TAX CREDIT ENTITIES:THE ORGANIZATION FORMED ENTITIES TO ACQUIRE, DEVELOP, CONSTRUCT, AND OPERATE LOW-INCOME MULTIFAMILY PROPERTIES IN CORPUS CHRISTI, TEXAS USING TAX CREDITS. THE ORGANIZATION THROUGH SINGLE MEMBER LIMITED LIABILITY COMPANIES AND LIMITED PARTNERSHIPS MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF HUD AND THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 LEXINGTON GP, LLC, WHICH IS THE GENERAL PARTNER IN THE 110 LEXINGTON, LP THAT OWNS AND OPERATES THE 153- UNIT LEXINGTON MANOR APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF THE PALMS AT LEOPARD GP, LLC, WHICH IS THE GENERAL PARTNER IN THE PALMS AT LEOPARD, LTD. THAT OWNS AND OPERATES THE 120-UNIT PALMS AT LEOPARD APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF WCA GP, LLC, WHICH IS THE GENERAL PARTNER IN WCA, LP THAT OWNS AND OPERATES THE 94-UNIT WOODLAND CREEK APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 GLENOAK LP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 GLENOAK, LP THAT OWNS AND OPERATES THE 68-UNIT GLENOAK APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF PROSPERAHCS CALALLEN GP, LLC, WHICH IS THE GENERAL PARTNER IN PROSPERAHCS CALALLEN, LP THAT OWNS AND OPERATES THE 96-UNIT CALALLEN APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 SAMUEL PLACE GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 SAMUEL PLACE, LP THAT OWNS AND OPERATES THE 60-UNIT SAMUEL PLACE APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 VILLAGE AT HENDERSON GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 VILLAGE AT HENDERSON, LP THAT OWNS AND OPERATES THE 88-UNIT VILLAGE AT HENDERSON APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 CASA DE MANANA GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 CASA DE MAN ANA, LP THAT OWNS AND OPERA TES THE 99-UNIT CASA DE MAN ANA APARTMENTS.THE ORGANIZATION CONTINUED AS MEMBER OF TG 110 VILLAGE AT MCARDLE GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 VILLAGE AT MCARDLE, LP THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 82-UNIT VILLAGE AT MCARDLE APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 PALMS AT BLUCHER PARK GP, LLC, WHICH IS THE GENERAL PAR1NERINTG 110 PALMS AT BLUCHER PARK, LP THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 72-UNIT PALMS AT BLUCHER PARK APARTMENTS. THE PROJECT IS CURRENTLY UNDER CONSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Boston Director | Trustee | 0.1 | $0 |
Debra Smith Treasurer | OfficerTrustee | 0.1 | $0 |
Everett Roy Chair (outgoing) | OfficerTrustee | 0.1 | $0 |
Guadalupe Feregrino Secretary | OfficerTrustee | 0.1 | $0 |
Jeanette Coats Asst Secretary | OfficerTrustee | 0.1 | $0 |
Lamont Taylor Vice Chair | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lucas And Associateslp Housing Consultant | 12/30/23 | $312,844 |
Galaxy Builders Ltd Construction Contractor | 12/30/23 | $180,000 |
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 | $1,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000 |
| Total Program Service Revenue | $971,025 |
| Investment income | $1,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | -$5,283 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,032,808 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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. | $26,050 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,688 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,283 |
| Payroll taxes | $8,040 |
| Fees for services: Management | $45,754 |
| Fees for services: Legal | $13,806 |
| Fees for services: Accounting | $56,270 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,842 |
| Advertising and promotion | $1,113 |
| Office expenses | $39,315 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $427,180 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,005 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $461,145 |
| Insurance | $19,536 |
| All other expenses | $24,153 |
| Total functional expenses | $1,500,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,059,841 |
| Savings and temporary cash investments | $29,637 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $186,367 |
| 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 | $134,283 |
| Net Land, buildings, and equipment | $14,554,462 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,138,752 |
| Intangible assets | $0 |
| Other assets | $507,930 |
| Total assets | $22,611,272 |
| Accounts payable and accrued expenses | $265,813 |
| Grants payable | $0 |
| Deferred revenue | $1,948 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,487 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,862,546 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $184,506 |
| Total liabilities | $5,342,300 |
| Net assets without donor restrictions | $17,268,972 |
| 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 | $22,611,272 |
Grants Awarded
Over the last fiscal year, Tg 110 Inc has awarded $190,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSING AND COMMUNITY SERVICES INC PURPOSE: resident support svc | $40,000 |
TG 306 INC PURPOSE: REPLACE ROOFS | $150,000 |