Tg 109 Inc
- Assets
- $618.8k
- Revenue
- $44.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 11/2002
- Data as of
- 12/2023
- EIN
- 74-2699723
Organization Overview
Tg 109 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 109 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 109 Inc generated $44.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (21.9%) each year. All expenses for the organization totaled $814.5k during the year ending 12/2023. 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
DURING THE REPORTING PERIOD, THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE 27 UNITS AVAILABLE FOR LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF HUD.THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED:INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION.VAL VERDE COUNTY, TEXAS, APPRAISAL DISTRICT 100% PROPERTY TAX EXEMPTION.STATE OF TEXAS FRANCHISE TAX EXEMPTION.STATE OF TEXAS SALES TAX EXEMPTION.THE ORGANIZATION CONTINUED TO PROVIDE RESIDENT ACTIVITIES INCLUDING:NATIONAL AFFORDABLE HOUSING MANAGEMENT ASSOCIATION (NAHMA) DRUG FREE POSTER ART CONTESTNATIONAL NIGHT OUT AND HOLIDAY CELEBRATIONS.THE APARTMENTS WERE SOLD TO PHCS RIO MANOR, LP ON DECEMBER 12, 2023, TO BE PRESERVED AS AFFORDABLE HOUSING IN A REHABILITATION AND RECONSTRUCTION PROJECT UNDER A LOW-INCOME HOUSING TAX CREDIT PROGRAM.AS DESCRIBED IN SCHEDULE I, THE ORGANIZATION TO FURTHER ITS MISSION CONTRIBUTED A $450,000 PROMISSORY NOTE RECEIVABLE BY ASSIGNMENT TO HOUSING AND COMMUNITY SERVICES, INC. DBA PROSPERA HOUSING COMMUNITY SERVICES (PHCS). PHCS IS A 501(C)(3) INCOME TAX-EXEMPT, NON-PROFIT TEXAS CORPORATION PROVIDER OF SAFE, HIGH-QUALITY, AFFORDABLE HOUSING WITH SUPPORT SERVICES TO LOW-INCOME RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carole Buffler Director | Trustee | 0.1 | $0 |
Darrell Deming Director | Trustee | 0.1 | $0 |
Nancy Hard Vice Chair | OfficerTrustee | 0.1 | $0 |
Rafael Torres Chair | OfficerTrustee | 0.1 | $0 |
Virginia Delerme Secretary | OfficerTrustee | 0.1 | $0 |
William Nash Treasurer | OfficerTrustee | 0.1 | $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 | $214,501 |
| Investment income | $8,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$201,228 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $450,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,654 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,756 |
| Payroll taxes | $6,741 |
| Fees for services: Management | $21,179 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,768 |
| Advertising and promotion | $687 |
| Office expenses | $13,690 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $119,704 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,706 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,853 |
| Insurance | $3,509 |
| All other expenses | $1,369 |
| Total functional expenses | $814,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,567 |
| Savings and temporary cash investments | $10,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,420 |
| 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 | $1,815 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $525,345 |
| Total assets | $618,764 |
| Accounts payable and accrued expenses | $19,477 |
| 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 | $19,477 |
| Net assets without donor restrictions | $599,287 |
| 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 | $618,764 |