Overview
What is Old Spanish Trailalmeda Corridors?
The Old Spanish Trailalmeda Corridors (OST) is a local government corporation established in 1998 by the Houston City Council. Its primary mission is to oversee the Project Plan and Financing Plan of Reinvestment Zone Number Seven in the City of Houston, Texas. As a nonprofit organization, the OST/Almeda Corridors Redevelopment Authority is dedicated to managing the revitalization efforts within the given zone.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Old Spanish Trailalmeda Corridors has achieved a 79% rating from Charity Navigator, indicating a solid level of accountability and financial health. This rating primarily stems from their strong performance in the Accountability & Finance category, where they excelled in areas such as having a fully independent board and robust financial oversight practices. The organization demonstrates a high commitment to transparency and responsible financial management.
One of the notable strengths of Old Spanish Trailalmeda Corridors is their impressive program expense ratio of 99.02%, suggesting that nearly all of their expenses support their mission-related activities rather than administrative costs. Additionally, the organization has implemented comprehensive policies regarding conflict of interest, whistleblower protection, and document retention, which further enhances their credibility and trustworthiness.
However, the organization faces some challenges, particularly in its liabilities to assets ratio, which stands at 72.36%. This may indicate a higher level of liabilities relative to their assets, potentially raising concerns about financial sustainability in the long term. Despite this limitation, the overall financial practices and governance structure reflect a commitment to ethical management and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Old Spanish Trailalmeda Corridors legitimate?
Old Spanish Trailalmeda Corridors is a legitimate nonprofit organization registered as a 501(c)(3) entity. Old Spanish Trailalmeda Corridors 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: $622,549
For more financial information, click here
What is the mission statement of Old Spanish Trailalmeda Corridors?
The Old Spanish Trailalmeda Corridors Redevelopment Authority is a local government corporation established in 1998 by the Houston City Council. Its main role is to oversee the Project Plan and Financing Plan of Reinvestment Zone Number Seven in the city. The entity was created with the objective of managing and implementing the redevelopment projects under this reinvestment zone. The authority aims to revitalize and transform the designated area through its administrative functions. By working closely with the city council, the Old Spanish Trailalmeda Corridors Redevelopment Authority contributes to the economic growth and improvement of the specified region.
Who is the CEO of Old Spanish Trailalmeda Corridors?
Unavailable
What is the revenue of Old Spanish Trailalmeda Corridors?
Old Spanish Trailalmeda Corridors's revenue in 2022 was $12,122,908.
Who are the executives of Old Spanish Trailalmeda Corridors and what are their salaries?
The average compensation at Old Spanish Trailalmeda Corridors during 2022 was $124,510. There are 5 employees and 7 volunteers at Old Spanish Trailalmeda Corridors.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Old Spanish Trailalmeda Corridors?
Old Spanish Trailalmeda Corridors's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Old Spanish Trailalmeda Corridors
Old Spanish Trailalmeda Corridors (OST/Almeda Corridors) is a local government corporation established in July 1998 by the Houston City Council. Its mission is twofold: to oversee the Project Plan and Financing Plan of Reinvestment Zone Number Seven in the City of Houston, Texas. In simpler terms, OST/Almeda Corridors was created to spearhead the revitalization efforts of a designated area in Houston. By assuming this role, the organization plays a pivotal part in driving economic development, urban renewal, and community enhancement within the zone.
The organization's inception was driven by the Houston City Council's commitment to revitalizing underdeveloped areas and fostering sustainable growth. OST/Almeda Corridors, as the governing body, took charge of implementing the strategic plans designed to breathe new life into the identified zone. The ultimate goal is to create an environment conducive to economic prosperity and improved quality of life for local residents. By administering the Project Plan and Financing Plan, the organization serves as a catalyst for positive change, working closely with various stakeholders to ensure the success of the redevelopment project.
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Impact
October, 2024
The Old Spanish Trail/Almeda Corridors plays a crucial role in the revitalization and development of the neighborhoods it serves in Houston, Texas. Established in July 1998, this initiative focuses on the strategic redevelopment of Reinvestment Zone Number Seven, aiming to enhance community infrastructure and spur economic growth.
The impact of the Old Spanish Trail/Almeda Corridors can be seen in improved public spaces, increased property values, and the attraction of new businesses to the area. By administering a comprehensive Project Plan and Financing Plan, the initiative has facilitated investments that not only improve the aesthetic appeal of the corridor but also enhance the quality of life for local residents.
Moreover, the initiative fosters a sense of community by promoting local engagement and partnerships, thus ensuring that redevelopment efforts align with the needs and desires of residents. As a result, the Old Spanish Trail/Almeda Corridors significantly contributes to community improvement, creating a vibrant environment conducive to social and economic activities.
This information is meant to be a general summary of Old Spanish Trailalmeda Corridors. 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: $121,633
- Program Service Revenue: $11,978,542
- Gross Receipts: $12,122,908
Assets and Liabilities:
- Total Assets: $78,486,325
- Total Liabilities: $66,415,322
- Net Assets: $12,071,003
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TAX INCREMENTS
Revenue
$11,978,542
AUTHORITY OTHER
Organization Details
Founding Year
1978
Phone
(713) 528-3535Main Address
5445 ALMEDA ROAD, HOUSTON, TX, 77004
NTEE Category
Code: S31 - Community improvement
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