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Pharr Housing Development Corporation

Tax-deductible

Pharr, TX501(c)(3)Housing EIN 74-2708782Revenue $2.4M in FY2024

On file with the IRS1005 W Gore Ave, 78577-5121 · Pharr, TXTax-exempt since Jun 2023Publicly supported charity — 170(b)(1)(A)(vi)

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The organization assists with the creation and ownership of low income rental apartments and tenant related housing needs with the affiliate, Pharr Housing Authority.

501(c)(3) charity; gifts are tax-deductible.
73¢ 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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FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $170K a year · 7% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 20.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.1M
50% of total assets
Looks good: liabilities are 50% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+2% vs prior year
Spent
$2.0M
To programs
73%
Net assets
$7.1M
By yearFY2023–FY2024
Revenue
$2.4M
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2023$2.4M
FY2024$2.4M
Expenses
$2.0M
FY2024▼ -34%
Tap a bar for its year
Expenses by fiscal year
FY2023$3.1M
FY2024$2.0M
Net assets
$7.1M
FY2024▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2023$7.8M
FY2024$7.1M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Revoked Feb 2022, reinstated. IRS ruling Jun 2023, per the IRS master file. Latest filing on record: FY2024. IRS ruling in Jun 2023.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $1.5M Management & general 27% · $549K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Mario Lizcano
President
$0Pt VII · Sec A
Romeo Garza
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Romeo Cantu
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Pharr Housing Development Corporation 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 15aNo

Programs and updates

Develops and manages affordable rental housing for low-income individuals and families.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2023
01

Provide decent, safe, and sanitary housing for low-income families.

$1.5Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.4M
Ln 12
Fees for servicesLn 2g$2.0M
Gifts and grantsLn 1h$430K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.5M
Managementcol C$549K
Owns and owesPt X
$7.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$14.1M
LiabilitiesLn 26$7.1M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$430K
Government grantsLn 1e$430K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$2.0M
Gains on assetsLn 7$0
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$3.4M
Cash and savings togetherLn 1–2$3.4M
Land, buildings, equipmentLn 10c$7.7M
Other assetsLn 15$114K
Total assetsLn 16$14.1M
LiabilitiesLn 26$7.1M
Net assetsLn 32$7.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
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 FY24End FY24
Cash and savingsLn 1–2$3.1M$3.4M
Land, buildings, equipmentLn 10c$13.7M$7.7M
Total assetsLn 16$17.2M$14.1M
LiabilitiesLn 26$9.5M$7.1M
Net assetsLn 32$7.8M$7.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$219K$219K
Management feesLn 11a$38K$38K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$51K$51K
Office expensesLn 13$450K$450K
InterestLn 20$117K$117K
Depreciation, depletion and amortizationLn 22$312K$312K
InsuranceLn 23$118K$118K
Other expenses (24a–d)Ln 24$720K$720K$0$0
Total functional expensesLn 25$2.0M$1.5M$549K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.4M$2.0M$364K$7.1M 990 PDF
FY2023 $2.4M$3.1M−$705K$7.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $2,398,783 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $785,640$430,253
I-9 Program service revenuePrior year $1,569,222$1,968,530
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,354,862$2,398,783
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $98,512$218,655
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,961,554$1,815,899
I-18 Total expensesPrior year $3,060,066$2,034,554
I-19 Revenue less expensesPrior year −$705,204$364,229
Part VI · Governance 0 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $2,398,783 across 15 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$430,253
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$430,253
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,968,530 · Unrelated business $0 · Excluded from tax $0$1,968,530
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $1,968,530 · Unrelated business $0 · Excluded from tax $0$2,398,783
Part IX · Statement of functional expenses $2,034,554 across 9 lines filed
IX-7 Other salaries and wagesPrograms $218,655$218,655
IX-11a Management feesManagement $38,444$38,444
IX-11c Accounting feesManagement $10,240$10,240
IX-12 Advertising and promotionManagement $50,501$50,501
IX-13 Office expensesManagement $450,111$450,111
IX-20 InterestPrograms $116,706$116,706
IX-22 Depreciation, depletion and amortizationPrograms $311,761$311,761
IX-23 InsurancePrograms $118,303$118,303
IX-24 Other expenses (24a–d)Programs $719,833 · Management $0 · Fundraising $0$719,833
IX-25 Total functional expensesPrograms $1,485,258 · Management $549,296 · Fundraising $0$2,034,554
Part X · Balance sheet $14,139,499 assets, 12 lines filed
Asset lines not itemized here account for $34,354; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,142,782$3,405,438
X-4 Accounts receivableStart of year $161,521$2,751,937
X-9 Prepaid expenses and deferred chargesStart of year $108,997$107,087
X-10c Land, buildings and equipment, netStart of year $13,738,931$7,726,652
X-15 Other assetsStart of year $75,636$114,031
X-16 Total assetsStart of year $17,245,042$14,139,499
X-17 Accounts payable and accrued expensesStart of year $1,082,290$957,596
X-19 Deferred revenueStart of year $253,186$6,759
X-25 Other liabilitiesStart of year $50,875$29,225
X-26 Total liabilitiesStart of year $9,477,030$7,076,430
X-32 Total net assets or fund balancesStart of year $7,768,012$7,063,069
X-33 Total liabilities and net assetsStart of year $17,245,042$14,139,499
Part XI · Reconciliation of net assets $7,063,069 net assets at year end
XI-1 Total revenue$2,398,783
XI-2 Total expenses$2,034,554
XI-3 Revenue less expenses$364,229
XI-4 Net assets at start of year$7,768,012
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$1,069,172
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,063,069

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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