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Grand Central Texas Development Corp FY2020 filing

Tax-deductible

Austin, TX501(c)(3)HousingEIN 31-1748289Revenue $443K in FY2020

On file with the IRStexascommunitybuilders.org1011 San Jacinto Blvd, 78701-2494 · Austin, TXTax-exempt since Apr 2001Publicly supported charity — 170(b)(1)(A)(vi)

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Provide decent and affordable housing for lower income residents, including minorities, women, elderly and the handicapped and acquire improved and unimproved

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $468K a year · 44% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
54 mo
of spending, in cash
Looks good: 54.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.9M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$443K
Spent
$608K
To programs
92%
Net assets
$4.0M
By yearFY2020–FY2025
Revenue
$443K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$443K
FY2021$821K
FY2022$3.7M
FY2023$417K
FY2024$569K
FY2025$498K
Expenses
$608K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$608K
FY2021$647K
FY2022$569K
FY2023$536K
FY2024$628K
FY2025$606K
Net assets
$4.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$4.0M
FY2021$4.2M
FY2022$7.3M
FY2023$7.2M
FY2024$7.1M
FY2025$7.0M

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $557K Management & general 8% · $51K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Liz Allen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Grand Central Texas Development Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds and renovates affordable homes for low-income individuals and families.

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Provided by the organization

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2 programs · $557K · in their own filed words · FY2019
01

Property Management

Lease multi-family developments, assist board of directors with capacity building, provide training for on site property managers, develop formal internal policies & procedures for property management, develop tenant services (manual, activities, and communications).

$557Kprogram expense
02

Business Development

The organization processes and services sba guaranteed loans for small businesses that do not qualify for conventional financing. In addition, loans are made to small businesses from grant funds and contributions from various businesses and local governments as well as interest earnings and principal returned to the loan fund pool.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$443K
Ln 12
Fees for servicesLn 2g$550K
Investment incomeLn 3$5K
Money outPt IX
$608K
Ln 25
Programscol B$557K
Managementcol C$51K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$8.0M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$550K
Investment incomeLn 3$5K
Total revenueLn 12$443K
Assets in detailPt X, end of year
CashLn 1$2.4M
SavingsLn 2$318K
Cash and savings togetherLn 1–2$2.8M
InvestmentsLn 11–13$145K
Land, buildings, equipmentLn 10c$4.2M
Other assetsLn 15$41K
Total assetsLn 16$8.0M
LiabilitiesLn 26$3.9M
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.0M$2.8M
InvestmentsLn 11–13$145K$145K
Land, buildings, equipmentLn 10c$5.3M$4.2M
Total assetsLn 16$7.4M$8.0M
LiabilitiesLn 26$3.2M$3.9M
Net assetsLn 32$4.2M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$100K$100K$0$0
Other employee benefitsLn 9$12K$12K$0$0
Payroll taxesLn 10$8K$8K$0$0
Accounting feesLn 11c$19K$0$19K$0
Other fees for servicesLn 11g$22K$21K$1K$0
Office expensesLn 13$3K$0$3K$0
TravelLn 17$349$0$349$0
InterestLn 20$147K$146K$2K$0
Depreciation, depletion and amortizationLn 22$153K$153K$0$0
InsuranceLn 23$27K$27K$0$0
Other expenses (24a–d)Ln 24$118K$91K$27K$0
Total functional expensesLn 25$608K$557K$51K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $498K$606K−$108K$7.0M 990 PDF
FY2024 $569K$628K−$59K$7.1M 990 PDF
FY2023 $417K$536K−$119K$7.2M 990 PDF
FY2022 $3.7M$569K$3.1M$7.3M 990 PDF
FY2021 $821K$647K$174K$4.2M 990 PDF
FY2020 Viewing $443K$608K−$165K$4.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $443,186 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $481,452$550,353
I-10 Investment incomePrior year $82,611$4,878
I-11 Other revenue−$112,045
I-12 Total revenuePrior year $564,063$443,186
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $96,537$120,144
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $554,340$487,561
I-18 Total expensesPrior year $650,877$607,705
I-19 Revenue less expensesPrior year −$86,814−$164,519
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $443,186 across 3 lines filed
Lines not itemized here account for −$112,045 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$550,353
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $4,878$4,878
VIII-12 Total revenueRelated to mission $438,308 · Unrelated business $0 · Excluded from tax $4,878$443,186
Part IX · Statement of functional expenses $607,705 across 11 lines filed
IX-7 Other salaries and wagesPrograms $100,148 · Management $0 · Fundraising $0$100,148
IX-9 Other employee benefitsPrograms $12,327 · Management $0 · Fundraising $0$12,327
IX-10 Payroll taxesPrograms $7,669 · Management $0 · Fundraising $0$7,669
IX-11c Accounting feesPrograms $0 · Management $18,603 · Fundraising $0$18,603
IX-11g Other fees for servicesPrograms $20,673 · Management $1,018 · Fundraising $0$21,691
IX-13 Office expensesPrograms $0 · Management $2,634 · Fundraising $0$2,634
IX-17 TravelPrograms $0 · Management $349 · Fundraising $0$349
IX-20 InterestPrograms $145,546 · Management $1,573 · Fundraising $0$147,119
IX-22 Depreciation, depletion and amortizationPrograms $152,520 · Management $0 · Fundraising $0$152,520
IX-23 InsurancePrograms $26,513 · Management $0 · Fundraising $0$26,513
IX-24 Other expenses (24a–d)Programs $91,424 · Management $26,708 · Fundraising $0$118,132
IX-25 Total functional expensesPrograms $556,820 · Management $50,885 · Fundraising $0$607,705
Part X · Balance sheet $7,952,042 assets, 15 lines filed
Asset lines not itemized here account for $731,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $319,465$2,442,806
X-2 Savings and temporary cash investmentsStart of year $710,496$317,781
X-4 Accounts receivableStart of year $6,816$34,993
X-9 Prepaid expenses and deferred chargesStart of year $18,747$19,830
X-10c Land, buildings and equipment, netStart of year $5,298,416$4,219,753
X-12 Other securitiesStart of year $145,000$145,000
X-15 Other assetsStart of year $60,862$40,879
X-16 Total assetsStart of year $7,394,373$7,952,042
X-17 Accounts payable and accrued expensesStart of year $47,768$80,875
X-25 Other liabilitiesStart of year $8,154$157,188
X-26 Total liabilitiesStart of year $3,209,351$3,931,539
X-27 Net assets without donor restrictionsStart of year $3,203,604$3,050,863
X-28 Net assets with donor restrictionsStart of year $981,418$969,640
X-32 Total net assets or fund balancesStart of year $4,185,022$4,020,503
X-33 Total liabilities and net assetsStart of year $7,394,373$7,952,042
Part XI · Reconciliation of net assets $4,020,503 net assets at year end
XI-1 Total revenue$443,186
XI-2 Total expenses$607,705
XI-3 Revenue less expenses−$164,519
XI-4 Net assets at start of year$4,185,022
XI-10 Net assets at end of year$4,020,503

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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