Overview
What is Tg 302 Inc?
Tg 302 Inc is a nonprofit organization, incorporated in Texas in 2000, dedicated to providing affordable housing and supporting the economic independence of low-income families and individuals. The organization operates the Harrison Manor Apartments, a 50-unit complex in Harlingen, Texas, under a HUD-funded Section 8 housing assistance program. This program ensures rent is affordable for residents earning less than 30% of the area median income. Additionally, Tg 302 Inc operates an on-site Neighborhood Networks Center, offering various programs and services for residents, such as case management, after-school programs, computer access, financial literacy classes, arts and crafts workshops, and community events. The organization also maintains several tax exemptions, including a 501(c)(3) income tax exemption and property tax exemptions in Cameron County and Texas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
Tg 302 Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 94%, indicating a high level of transparency and effective financial management. The ratings are based on a comprehensive assessment of various factors, predominantly emphasizing the charity's adherence to accountability standards.
The organization exhibits a robust governance structure, with a fully independent board comprising three members. Tg 302 Inc demonstrates sound financial practices, including a low liabilities-to-assets ratio of 34.22%, signifying financial stability. Moreover, the charity allocates an impressive 97.31% of its expenses directly to programs, showcasing its commitment to maximizing impact through resource allocation.
Limitations or areas of concern were not noted in the data provided, highlighting the organization's strengths in governance practices, including the presence of conflict of interest and whistleblower policies. Overall, Tg 302 Inc's high rating underscores its dedication to maintaining high standards in nonprofit management and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Tg 302 Inc legitimate?
Tg 302 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tg 302 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $75,258
For more financial information, click here
What is the mission statement of Tg 302 Inc?
Tg 302 Inc, established as a nonprofit corporation in Texas, has a mission to preserve affordable housing for families and promote a strong community amongst its residents. The organization's primary objective is to help residents attain economic independence. The main activity of Tg 302 Inc involves managing the Harrison Manor Apartments, a 50-unit complex, providing housing assistance to very low-income families and individuals through a HUD-funded Section 8 Housing Assistance Payment (HAP) contract. The rent-assisted units are intended for families and individuals earning less than 30% of the area median income.
Who is the CEO of Tg 302 Inc?
Jaclyn S Woodring is the Chair of Tg 302 Inc.
What is the revenue of Tg 302 Inc?
Tg 302 Inc's revenue in 2022 was $582,485.
Who are the executives of Tg 302 Inc and what are their salaries?
There 5 volunteers at Tg 302 Inc.
Here are 8 key members and their salaries:
- 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
- Compensation: $0
- Related: $162,403
- Other: $5,486
- Compensation: $0
- Related: $227,279
- Other: $16,994
- Compensation: $0
- Related: $190,311
- Other: $6,414
Where can I find the form 990 for Tg 302 Inc?
Tg 302 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tg 302 Inc
Tg 302 Inc, a charity organization incorporated in Texas, dedicated its mission towards preserving affordable housing for families, fostering a strong resident community, and aiding residents in achieving economic independence. The primary activity of this organization is the management of the Harrison Manor Apartments, a 50-unit complex located in Harlingen, Texas. Tg 302 Inc provides housing assistance payments to families and individuals with incomes less than 30% of the area median income, ensuring that very low-income families can afford their residences. The organization's commitment to its mission extends further, as it works tirelessly to create a supportive and thriving community for its residents, thereby empowering them to improve their economic standing.
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Impact
July, 2024
Tg 302 Inc's impact lies in its dedication to providing low-income housing and essential social and educational services to individuals and families in need. By sustaining the HUD property-based Section 8 HAP contract and maintaining all 50 units for low-income residents, Tg 302 Inc ensures that vulnerable individuals have access to safe and affordable housing. Additionally, the organization operates an on-site HUD certified Neighborhood Networks Center, offering a range of programs and services such as case management, computer access and training, educational opportunities, and community events.
Furthermore, Tg 302 Inc's tax exemptions enable it to allocate more resources towards serving its community, promoting economic independence, and fostering a strong resident community within the Harrison Manor Apartments in San Antonio, TX. Through its mission to preserve affordable housing and empower residents, Tg 302 Inc plays a vital role in addressing housing insecurity and promoting social wellbeing in the region.
This information is meant to be a general summary of Tg 302 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: $43
- Program Service Revenue: $570,058
- Gross Receipts: $1,324,879
Assets and Liabilities:
- Total Assets: $1,666,546
- Total Liabilities: $570,406
- Net Assets: $1,096,140
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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
$463,447
TENANT RENTAL INCOME
Revenue
$106,611
Organization Details
Founding Year
2000
Phone
(210) 821-4300Principal Officer
Jaclyn S Woodring
Main Address
3419 NACOGDOCHES ROAD, SAN ANTONIO, TX, 78217
NTEE Category
Code: L21 - Housing
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