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The Transit System INC FY2024 filing

Tax-deductible

Glen Rose, TX501(c)(3)UnclassifiedEIN 75-1871831Revenue $1.7M in FY2024

On file with the IRSPo Box 332, 76043-0332 · Glen Rose, TXTax-exempt since Nov 1993Publicly supported charity — 170(b)(1)(A)(vi)

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Transportation to rural areas of somervell and hood counties in texas, enhancing access of persons to health care, employment and public services.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
5 of 5
filings with a surplus
Average surplus $322K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$704K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
-18% vs prior year
Spent
$1.6M
To programs
83%
Net assets
$3.1M
By yearFY2021–FY2025
Revenue
$1.7M
FY2024▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.9M
FY2022$1.5M
FY2023$2.1M
FY2024$1.7M
FY2025$2.1M
Expenses
$1.6M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.3M
FY2022$1.3M
FY2023$1.5M
FY2024$1.6M
FY2025$1.8M
Net assets
$3.1M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.3M
FY2022$2.5M
FY2023$3.1M
FY2024$3.1M
FY2025$3.4M

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

990 PDF Claim
You’re viewing the FY2024 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 Nov 1993.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $1.3M Management & general 17% · $274K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Chris Coffman
Vice Chairma
$0Pt VII · Sec A
Andy Mapes
Secretary
$0Pt VII · Sec A
Greg Corrigan
Parlimentari
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Transit System INC 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

Provides transportation to rural areas for healthcare, jobs, and public services.

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1 program · $1.3M · in their own filed words · FY2023
01

Transportation to rural areas of somervell and hood counties in texas, enhancing access of persons to health care, employment and public services.

$1.3Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.4M
Fees for servicesLn 2g$230K
Investment incomeLn 3$11K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.3M
Managementcol C$274K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$3.8M
LiabilitiesLn 26$704K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$1.4M
Noncash giftsLn 1g$12K
Fees for servicesLn 2g$230K
Investment incomeLn 3$11K
Other incomeLn 4–11$4K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$207K
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$2.3M
Total assetsLn 16$3.8M
LiabilitiesLn 26$704K
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 521
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.2M$1.5M
Land, buildings, equipmentLn 10c$1.7M$2.3M
Total assetsLn 16$3.1M$3.8M
LiabilitiesLn 26$75K$704K
Net assetsLn 32$3.1M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$73K$73K
Other salaries and wagesLn 7$592K$537K$56K
Pension plan contributionsLn 8$7K$7K
Other employee benefitsLn 9$135K$104K$30K
Payroll taxesLn 10$54K$40K$14K
Legal feesLn 11b$207$207
Accounting feesLn 11c$20K$20K
Other fees for servicesLn 11g$23K$23K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$12K$12K
Information technologyLn 14$55K$30K$25K
OccupancyLn 16$17K$14K$3K
TravelLn 17$7K$850$6K
Depreciation, depletion and amortizationLn 22$310K$310K
InsuranceLn 23$102K$77K$25K
Other expenses (24a–d)Ln 24$209K$208K$1K
Total functional expensesLn 25$1.6M$1.3M$274K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.1M$1.8M$268K$3.4M 990 PDF
FY2024 Viewing $1.7M$1.6M$62K$3.1M 990 PDF
FY2023 $2.1M$1.5M$543K$3.1M 990 PDF
FY2022 $1.5M$1.3M$201K$2.5M 990 PDF
FY2021 $1.9M$1.3M$535K$2.3M 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 FY2024 990 (6 parts)
Part I · Summary $1,684,973 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,778,976$1,441,093
I-9 Program service revenuePrior year $269,904$229,593
I-10 Investment incomePrior year $2,657$10,523
I-11 Other revenuePrior year $4,955$3,764
I-12 Total revenuePrior year $2,056,492$1,684,973
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $752,045$859,840
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $761,021$763,389
I-18 Total expensesPrior year $1,513,066$1,623,229
I-19 Revenue less expensesPrior year $543,426$61,744
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,684,973 across 7 lines filed
VIII-1e Government grants$1,441,093
VIII-1g Noncash contributions (included above)$12,000
VIII-1h Total contributions, gifts and grants$1,441,093
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $229,593$229,593
VIII-3 Investment incomeExcluded from tax $10,523$10,523
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $3,742 · Excluded from tax $22$3,764
VIII-12 Total revenueRelated to mission $229,593 · Unrelated business $3,742 · Excluded from tax $10,545$1,684,973
Part IX · Statement of functional expenses $1,623,229 across 16 lines filed
IX-5 Pay of current officers, directors and key staffManagement $72,695$72,695
IX-7 Other salaries and wagesPrograms $536,650 · Management $55,643$592,293
IX-8 Pension plan contributionsPrograms $6,666$6,666
IX-9 Other employee benefitsPrograms $104,424 · Management $30,241$134,665
IX-10 Payroll taxesPrograms $39,703 · Management $13,818$53,521
IX-11b Legal feesManagement $207$207
IX-11c Accounting feesManagement $20,350$20,350
IX-11g Other fees for servicesPrograms $22,532$22,532
IX-12 Advertising and promotionManagement $8,658$8,658
IX-13 Office expensesManagement $11,901$11,901
IX-14 Information technologyPrograms $30,102 · Management $24,876$54,978
IX-16 OccupancyPrograms $14,448 · Management $2,681$17,129
IX-17 TravelPrograms $850 · Management $6,238$7,088
IX-22 Depreciation, depletion and amortizationPrograms $309,540$309,540
IX-23 InsurancePrograms $76,585 · Management $25,154$101,739
IX-24 Other expenses (24a–d)Programs $207,778 · Management $1,489$209,267
IX-25 Total functional expensesPrograms $1,349,278 · Management $273,951 · Fundraising $0$1,623,229
Part X · Balance sheet $3,833,447 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,030,185$1,248,897
X-2 Savings and temporary cash investmentsStart of year $200,000$207,386
X-3 Pledges and grants receivableStart of year $196,106$75,840
X-4 Accounts receivableStart of year $21,567$9,944
X-9 Prepaid expenses and deferred chargesStart of year $2,442$5,380
X-10c Land, buildings and equipment, netStart of year $1,692,707$2,286,000
X-16 Total assetsStart of year $3,143,007$3,833,447
X-17 Accounts payable and accrued expensesStart of year $75,163$703,859
X-26 Total liabilitiesStart of year $75,163$703,859
X-27 Net assets without donor restrictionsStart of year $3,067,844$3,129,588
X-32 Total net assets or fund balancesStart of year $3,067,844$3,129,588
X-33 Total liabilities and net assetsStart of year $3,143,007$3,833,447
Part XI · Reconciliation of net assets $3,129,588 net assets at year end
XI-1 Total revenue$1,684,973
XI-2 Total expenses$1,623,229
XI-3 Revenue less expenses$61,744
XI-4 Net assets at start of year$3,067,844
XI-10 Net assets at end of year$3,129,588

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

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