Overview
What is La Merced Charitable Trust?
La Merced Charitable Trust is a nonprofit organization situated in Brownsville, Texas. Their primary mission is to provide housing for families with low and moderate incomes, adhering to Section 8 of the National Housing Act, overseen by HUD. In total, they offer 100 homes within their housing program. The trust employs a team of seven individuals to facilitate this mission, ensuring access to affordable housing for the designated income bracket.
Is La Merced Charitable Trust legitimate?
La Merced Charitable Trust is a legitimate nonprofit organization registered as a 501(c)(4) entity. La Merced Charitable Trust 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: $8,750
Professional Fundraising Fees: $0
Other Salaries and Wages: $100,546
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What is the mission statement of La Merced Charitable Trust?
La Merced Charitable Trust is committed to providing housing solutions for families with moderate to low income levels. In line with this mission, the trust ensures the availability of 100 homes under Section 8 of the National Housing Act, which is overseen by the HUD. Their primary objective is to make housing accessible to families who fall within this income bracket. The organization's activities are focused on providing affordable housing, thereby improving the living conditions and overall quality of life for these families.
Who is the CEO of La Merced Charitable Trust?
Joel Ruiz is the Interim Coordinator of La Merced Charitable Trust.
What is the revenue of La Merced Charitable Trust?
La Merced Charitable Trust's revenue in 2022 was $4,498,919.
Who are the executives of La Merced Charitable Trust and what are their salaries?
The average compensation at La Merced Charitable Trust during 2022 was $15,614. There are 7 employees at La Merced Charitable Trust.
Here are 6 key members and their salaries:
- Compensation: $8,750
- Related: $57,190
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for La Merced Charitable Trust?
La Merced Charitable Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of La Merced Charitable Trust
La Merced Charitable Trust, as a nonprofit organization, is committed to providing housing solutions for families with modest incomes. In line with its mission, the trust makes 100 homes available for such families, adhering to Section 8 of the National Housing Act, which is overseen by the Department of Housing and Urban Development (HUD). The primary objective of La Merced Charitable Trust is to ensure that families who fall under the low and moderate income bracket have access to stable and affordable residential spaces. By doing so, the trust plays a significant role in enhancing the living conditions of these families, thereby contributing positively to their overall well-being.
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Impact
October, 2024
La Merced Charitable Trust has significantly impacted low and moderate-income families in Brownsville, Texas, by providing access to stable and affordable housing. Through its efforts under Section 8 of the National Housing Act, the trust has successfully facilitated the development of 100 homes, ensuring that families in need can secure a safe and supportive living environment. This initiative not only addresses immediate housing challenges but also fosters community stability, economic growth, and improved quality of life for residents. By prioritizing the needs of vulnerable populations, La Merced Charitable Trust plays a crucial role in enhancing social equity and empowering families within the region.
This information is meant to be a general summary of La Merced Charitable Trust. 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: $4,034,454
- Program Service Revenue: $459,655
- Gross Receipts: $5,651,992
Assets and Liabilities:
- Total Assets: $813,196
- Total Liabilities: $70,123
- Net Assets: $743,073
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYMENTS
Revenue
$339,870
RENT REVENUE
Revenue
$103,151
LEASE INCOME
Revenue
$16,634
Organization Details
Founding Year
1968
Phone
(956) 565-2622Principal Officer
Joel Ruiz
Main Address
1910 UNIVERSITY BOULEVARD, BROWNSVILLE, TX, 785204971
NTEE Category
Code: L20 - Housing
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