Overview
What is The Setrac Foundation?
The Setrac Foundation, established in December 2017 in Texas, is a nonprofit organization primarily focused on supporting and benefiting another Texas-based organization, the SouthEast Texas Regional Advisory Council (SETRAC). This support encompasses raising funds, managing and investing endowment funds, providing loan guarantees, and setting spending policies for SETRAC's endowments. The Foundation was granted tax-exempt status under Section 501(c)(3) of the Internal Revenue Code in September 2019, operating from its address in Houston, Texas. Despite the information provided, it's unclear if The Setrac Foundation carried out any programs during the reported year.
Is The Setrac Foundation legitimate?
The Setrac Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Setrac Foundation 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:
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What is the mission statement of The Setrac Foundation?
The Setrac Foundation, established with charitable and educational purposes, supports and benefits the SouthEast Texas Regional Advisory Council (SETRAC). Its primary activities include raising funds for SETRAC, managing and investing endowment funds, providing guaranty loans, and establishing spending or distribution policies for endowments. The Foundation received its income tax exempt status under Section 501(c)(3) of the Internal Revenue Code in September 2019. During the reporting year, the Foundation did not operate any programs.
Who is the CEO of The Setrac Foundation?
David Persse Md is the Chairman of The Setrac Foundation.
What is the revenue of The Setrac Foundation?
The Setrac Foundation's revenue in 2022 was $1,003,838.
Who are the executives of The Setrac Foundation and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for The Setrac Foundation?
The Setrac Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Setrac Foundation
The Setrac Foundation, established in December 2017, was organized with the primary objective of supporting and benefiting the SouthEast Texas Regional Advisory Council (SETRAC). This Texas-based nonprofit corporation, exempt under Section 501(c)(3) of the Internal Revenue Code, serves as the Foundation's main beneficiary. The Setrac Foundation's mission is multifaceted, encompassing the raising of funds for SETRAC, the management and investment of SETRAC's endowment funds, the provision of loan guarantees to SETRAC, and the establishment of spending or distribution policies regarding these endowments. By fulfilling these roles, The Setrac Foundation aims to contribute significantly to the overall advancement and welfare of SETRAC. The Foundation received its income tax exempt status within the meaning of Section 501(c)(3) of the Internal Revenue Code in September 2019, effective from the Foundation's inception. During the reporting year, The Setrac Foundation did not operate any programs.
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Impact
October, 2024
The Setrac Foundation plays a crucial role in supporting the SouthEast Texas Regional Advisory Council (SETRAC) by raising funds and managing endowment resources essential for regional health initiatives. Established in December 2017, the Foundation focuses on charitable and educational endeavors, ensuring that vital financial support is directed toward enhancing community healthcare and emergency medical services.
By facilitating guaranteed loans and establishing spending policies regarding endowment distribution, The Setrac Foundation helps to sustain and expand SETRAC's operations. The impact is seen in improved healthcare coordination, emergency response capabilities, and overall health outcomes for the Southeast Texas community. While the Foundation did not operate independent programs in the reporting year, its strategic financial management directly benefits SETRAC, amplifying their efforts and ensuring ongoing support for public health initiatives.
This information is meant to be a general summary of The Setrac Foundation. 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: $1,981
- Gross Receipts: $1,003,838
Assets and Liabilities:
- Total Assets: $1,051,942
- Total Liabilities: $1,847
- Net Assets: $1,050,095
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Organization Details
Founding Year
2018
Phone
(281) 822-4450Principal Officer
David Persse Md
Main Address
1111 North Loop West 160, Houston, TX, 77008
NTEE Category
Code: E11 - Health
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