Overview
What is Tg 306 Inc?
Tg 306 Inc, a nonprofit organization situated in San Antonio, Texas, primarily focuses on providing low-income housing for families and individuals. During the reporting period, they successfully maintained a HUD contract for their 50-unit apartment complex, Poesta Creek Apartments, located in Beeville, Texas. The organization ensures compliance with HUD and Texas Department of Housing and Community Affairs (TDHCA) regulations and continues to offer essential services such as an on-site computer learning center, resident activities, and after-school programs. They also undertook a rehabilitation project in 2020, investing in the renovation of the apartments and receiving funding from various sources. Tg 306 Inc also offers tax exemptions, including those from the Internal Revenue Service, Bee County, and the State of Texas. Their mission is to provide a secure and supportive living environment for families and individuals with low incomes.
Is Tg 306 Inc legitimate?
Tg 306 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tg 306 Inc 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: $6,347
Professional Fundraising Fees: $0
Other Salaries and Wages: $76,987
For more financial information, click here
What is the mission statement of Tg 306 Inc?
Tg 306 Inc, as a charitable organization, focuses on providing housing solutions for low-income families and individuals. Their primary activity involves managing the Poesta Creek Apartments, a 50-unit complex located in an unspecified area. This complex is specifically designed to cater to very-low income families and individuals, with their rents being assisted through a HUD contract. The Housing Assistance Payment (HAP) contract ensures that families and individuals with an income below 30% of the area median income can afford the rent. Essentially, Tg 306 Inc's mission is to offer affordable housing with the necessary support services for those in need.
Who is the CEO of Tg 306 Inc?
Jaclyn S Woodring is the Secretary of Tg 306 Inc.
What is the revenue of Tg 306 Inc?
Tg 306 Inc's revenue in 2022 was $556,284.
Who are the executives of Tg 306 Inc and what are their salaries?
There 4 volunteers at Tg 306 Inc.
Here are 7 key members and their salaries:
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- Other: $0
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- Compensation: $5,433
- Related: $183,959
- Other: $6,658
- Compensation: $0
- Related: $230,879
- Other: $17,202
- Compensation: $0
- Related: $190,311
- Other: $6,414
Where can I find the form 990 for Tg 306 Inc?
Tg 306 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tg 306 Inc
Tg 306 Inc, as a charitable organization, is dedicated to providing low-income housing and offering social and educational services to its residents. The primary activity of this organization revolves around owning and managing the Poesta Creek Apartments, a 50-unit complex located in Beeville, Texas. This apartment complex serves as a refuge for families and individuals with incomes that fall below 30% of the area median income.
Tg 306 Inc secures rental assistance through a contract with the U.S. Department of Housing and Urban Development (HUD) under the Housing Assistance Payment (HAP) program. This assistance ensures that the affordable housing units provided by Tg 306 Inc remain accessible to those in need, making housing a less significant financial burden for the residents. By offering low-income housing and supportive services, Tg 306 Inc contributes to the well-being of its residents, enabling them to focus on other aspects of their lives.
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Impact
October, 2024
Tg 306 Inc has made a significant impact in the community by providing low-income housing and essential social and educational services to very low-income families and individuals. The organization operates the Poesta Creek Apartments, a 50-unit complex, ensuring that all units are available to those with incomes below 30% of the area median. This access to affordable housing is crucial in addressing the needs of one of the most vulnerable segments of the population.
The sustained operation of the HUD Property-Based Section 8 Housing Assistance Payment (HAP) contract highlights the commitment to maintaining affordable rents, while also adhering to regulatory compliance with both HUD and the Texas Department of Housing and Community Affairs (TDHCA). The organization’s successful rehabilitation of the apartment complex, supported by various funding sources, has enhanced the living conditions for residents and reinforced the community’s infrastructure.
In addition to housing, Tg 306 Inc fosters a supportive community environment through initiatives like on-site educational programs, including a computer learning center, and resident activities that promote engagement and skill development. Events such as holiday celebrations and after-school programs operated by resident volunteers not only enhance the sense of community but also enrich the lives of residents.
Overall, Tg 306 Inc plays a vital role in transforming the quality of life for low-income families in Beeville, Texas, by ensuring access to safe, decent, and affordable housing while providing opportunities for personal and communal growth.
This information is meant to be a general summary of Tg 306 Inc. 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 2022.
- Investment Income: $1,323
- Program Service Revenue: $530,338
- Gross Receipts: $556,284
Assets and Liabilities:
- Total Assets: $3,418,868
- Total Liabilities: $3,388,698
- Net Assets: $30,170
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$428,550
TENANT RENTAL INCOME
Revenue
$101,788
Organization Details
Founding Year
2002
Phone
(210) 821-4300Principal Officer
Jaclyn S Woodring
Main Address
3419 NACOGDOCHES ROAD, SAN ANTONIO, TX, 782173377
NTEE Category
Code: L21 - Housing
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