Overview
What is Tac East Holdings Company No 1?
Tac East Holdings Company No 1 is a title holding organization established with a specific mission: to act as a title holder for Texamericas Center, a political subdivision of Texas, under the authority outlined in Section 3503.111 of the Special District Local Laws Code. During the fiscal year ending September 30, 2021, the company fulfilled this mission by managing and leasing the property transferred to it by Texamericas Center. Their primary program activity involves collecting lease revenue, amounting to 489,332, while also spending 315,767 on the maintenance, upkeep, and improvement of the property. Additionally, the company sold real estate with a basis of 199,398, generating a significant profit of 1,852,152 from the sale. In summary, Tac East Holdings Company No 1 is a dedicated title holding organization that generates revenue through leasing and property sales while ensuring the proper management of the transferred property.
Official website here: www.texamericascenter.org
What do the Facebook reviews say about Tac East Holdings Company No 1?
90% of reviewers on Facebook recommend Tac East Holdings Company No 1. Here is a summary of their reviews:
Many users express high satisfaction with the organization, highlighting the dedication and effectiveness of the staff. The sentiment towards the nonprofit is overwhelmingly positive, with several comments praising their impactful work in Texas. The community appreciates the commitment shown by the team and the positive difference they are making in the region.
Overall, the organization appears to resonate well with supporters, who feel confident in its mission and the efforts undertaken by the team. The consistent praise indicates that Tac East Holdings Company No 1 delivers on its promises, making it a valued entity in the community it serves.
This AI summary has been generated from reviews found on Facebook.
Is Tac East Holdings Company No 1 legitimate?
Tac East Holdings Company No 1 is a legitimate nonprofit organization registered as a 501(c)(25) entity. Tac East Holdings Company No 1 submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.texamericascenter.org
What is the mission statement of Tac East Holdings Company No 1?
Tac East Holdings Company No 1 serves as a title holding company for Texamericas Center, a political subdivision of the State of Texas, in accordance with the authority outlined in Section 3503.111 of the Special District Local Laws Code of the State of Texas. The company's primary mission is to maintain and manage the title of the property transferred to it by Texamericas Center. During the fiscal year ending September 30, 2021, the organization successfully fulfilled this mission by leasing the property and collecting lease revenue. Additionally, the company generated a significant gain by selling real property that was previously owned by it. Overall, Tac East Holdings Company No 1's role is to act as a title holding company for Texamericas Center, providing necessary property management services.
Official website here: www.texamericascenter.org
Who is the CEO of Tac East Holdings Company No 1?
William S Norton is the President of Tac East Holdings Company No 1.
Official website here: www.texamericascenter.org
What is the revenue of Tac East Holdings Company No 1?
Tac East Holdings Company No 1's revenue in 2021 was $2,099,056.
Official website here: www.texamericascenter.org
Who are the executives of Tac East Holdings Company No 1 and what are their salaries?
There 3 volunteers at Tac East Holdings Company No 1.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $286,743
- Other: $28,165
- Compensation: $0
- Related: $193,588
- Other: $8,554
- Compensation: $0
- Related: $112,367
- Other: $7,952
- Compensation: $0
- Related: $66,345
- Other: $8,884
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.texamericascenter.org
Where can I find the form 990 for Tac East Holdings Company No 1?
Tac East Holdings Company No 1's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.texamericascenter.org
Learn more at the official website: www.texamericascenter.org
Mission Statement of Tac East Holdings Company No 1
Tac East Holdings Company No 1, as a title holding organization, carries out a mission in accordance with the authority granted by Section 3503.111 of the Special District Local Laws Code of the State of Texas. This mission involves acting as a title holder for Texamericas Center, a political subdivision within the state. In this role, Tac East Holdings Company No 1 maintains and leases property that has been transferred to it by Texamericas Center for the entire fiscal year, contributing to lease revenue of 489,332 dollars. Furthermore, the company manages, maintains, and improves this property, spending 315,767 dollars in the process. In addition to these activities, Tac East Holdings Company No 1 also sold real property, with a basis of 199,398 dollars, for a substantial sales price of 2,051,550 dollars. This transaction yielded a significant gain of 1,852,152 dollars for the organization. In essence, Tac East Holdings Company No 1 serves as a title holding entity for Texamericas Center, managing and utilizing property to generate revenue while also realizing substantial gains through property sales.
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Impact
October, 2024
Tac East Holdings Company No 1 significantly impacts the local economy and community development in New Boston, Texas. By acting as a title holding company for the TexAmericas Center, it plays a crucial role in the management and leasing of properties that contribute to the region's growth and revitalization.
The organization's activities resulted in substantial lease revenue, totaling $489,332, which is reinvested into property management, maintenance, and improvement efforts amounting to $315,767. This not only ensures the upkeep of vital infrastructure but also enhances the overall appeal of the area for potential businesses and tenants.
Furthermore, Tac East Holdings made a notable impact through its real estate transactions. The sale of property, with a cost basis of $199,398 for an impressive sales price of $2,051,550, generated a substantial gain of $1,852,152. This transaction demonstrates effective asset management and serves to bolster financial resources that can be utilized for further community development initiatives.
Overall, Tac East Holdings Company No 1 acts as a catalyst for growth within the TexAmericas Center and the broader New Boston community, fostering economic activity, creating job opportunities, and supporting improvements that benefit residents and businesses alike.
This information is meant to be a general summary of Tac East Holdings Company No 1. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $1,852,152
- Gross Receipts: $2,540,882
Assets and Liabilities:
- Total Assets: $4,113,003
- Total Liabilities: $152,922
- Net Assets: $3,960,081
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Organization Details
Founding Year
2015
Phone
(903) 223-9841Principal Officer
William S Norton
Main Address
107 CHAPEL LANE, NEW BOSTON, TX, 75570
Website
www.texamericascenter.orgNTEE Category
Code: S47 - Community improvement
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