TG 110 INC

EIN: 742699492 501(c)(3) Housing & Shelter

SAN ANTONIO, TX

Total Revenue
$1,032,808
Total Expenses
$1,500,109
Total Assets
$22,611,272
Net Assets
$17,268,972
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
TX
Principal Officer
JACLYN S WOODRING
Phone
2108214300
Tax Period
2023-01-01 to 2023-12-31

TG 110 INC, founded in 1994, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. Revenue fell 69% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 45% operating deficit.

Mission

THE ORGANIZATION WAS INCORPORATED AS A NONPROFIT CORPORATION IN THE STATE OF TEXAS ON OCTOBER 26, 1994. THE MISSION OF THE ORGANIZATION IS TO PRESERVE ASSISTED HOUSING FOR FAMILIES IN NEED, DEVELOP A STRONG COMMUNITY AND PROMOTE SELF- SUFFICIENCY FOR ALL RESIDENTS. THE PRIMARY ACTIVITY OF THE ORGANIZATION IS TO PROVIDE OVERSIGHT AND GUIDANCE FOR THE OWNERSHIP AND OPERATION OF ELEVEN LOW- INCOME MULTIFAMILY HOUSING PROJECTS THAT TOTAL 1001 UNITS. UNITS ARE AVAILABLE FOR THE BENEFIT OF LOW- INCOME RESIDENTS AND THEIR FAMILIES MAKING LESS THAN 30% AND 80% OF THE AREA MEDIAN INCOME (AMI). THE ORGANIZATION ASSISTS IN MAINTAINING SIX U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) PROPERTY BASED SECTION 8 HOUSING ASSISTANCE PAYMENT (HAP) RENTAL ASSISTANCE CONTRACTS. THE LOW-INCOME MULTIFAMILY HOUSING PROJECTS ARE : CALALLEN APARTMENTS (96 UNITS) CASA DE MANANA APARTMENTS ( 99 UNITS WITH 100% AS SECTION 8) GLENOAK APARTMENTS (68 UNITS WITH 100% AS SECTION 8) LEXINGTON MANOR APARTMENTS (153 UNITS WITH 52 UNITS AS SECTION 8) PALMS AT BLUCHER PARK APARTMENTS (72 UNITS UNDER CONSTRUCTION) PALMS AT LEOPARD APARTMENTS (120 UNITS WITH 100% AS SECTION 8) VILLAGE AT GREENWOOD APARTMENTS (69 UNITS) VILLAGE AT HENDERSON APARTMENTS (88 UNITS) VILLAGE AT MCARDLE APARTMENTS ( 82 UNITS) WOODLAND CREEK APARTMENTS (94 UNITS WITH 100% AS SECTION 8)

Program Service Accomplishments

Program 1
Expenses: $1,326,330 Revenue: $878,965

THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION. NUECES COUNTY, TEXAS, APPRAISAL DISTRICT PROPERTY TAX EXEMPTIONS. TATE OF TEXAS...

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THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION. NUECES COUNTY, TEXAS, APPRAISAL DISTRICT PROPERTY TAX EXEMPTIONS. TATE OF TEXAS FRANCHISE TAX EXEMPTION. STATE OF TEXAS SALES TAX EXEMPTION.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 VILLAGE AT GREENWOOD GP, LLC THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 69-UNIT VILLAGE AT GREENWOOD APARTMENTS. THE PROJECT COMPLETED CONSTRUCTION IN 2022. A TEXAS GENERAL OFFICE CONSTRUCTION GRANT PROVIDED THE PRIMARY CONSTRUCTION FUNDING.TAX CREDIT ENTITIES:THE ORGANIZATION FORMED ENTITIES TO ACQUIRE, DEVELOP, CONSTRUCT, AND OPERATE LOW-INCOME MULTIFAMILY PROPERTIES IN CORPUS CHRISTI, TEXAS USING TAX CREDITS. THE ORGANIZATION THROUGH SINGLE MEMBER LIMITED LIABILITY COMPANIES AND LIMITED PARTNERSHIPS MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF HUD AND THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 LEXINGTON GP, LLC, WHICH IS THE GENERAL PARTNER IN THE 110 LEXINGTON, LP THAT OWNS AND OPERATES THE 153- UNIT LEXINGTON MANOR APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF THE PALMS AT LEOPARD GP, LLC, WHICH IS THE GENERAL PARTNER IN THE PALMS AT LEOPARD, LTD. THAT OWNS AND OPERATES THE 120-UNIT PALMS AT LEOPARD APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF WCA GP, LLC, WHICH IS THE GENERAL PARTNER IN WCA, LP THAT OWNS AND OPERATES THE 94-UNIT WOODLAND CREEK APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 GLENOAK LP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 GLENOAK, LP THAT OWNS AND OPERATES THE 68-UNIT GLENOAK APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF PROSPERAHCS CALALLEN GP, LLC, WHICH IS THE GENERAL PARTNER IN PROSPERAHCS CALALLEN, LP THAT OWNS AND OPERATES THE 96-UNIT CALALLEN APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 SAMUEL PLACE GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 SAMUEL PLACE, LP THAT OWNS AND OPERATES THE 60-UNIT SAMUEL PLACE APARTMENTS.THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 VILLAGE AT HENDERSON GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 VILLAGE AT HENDERSON, LP THAT OWNS AND OPERATES THE 88-UNIT VILLAGE AT HENDERSON APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 CASA DE MANANA GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 CASA DE MAN ANA, LP THAT OWNS AND OPERA TES THE 99-UNIT CASA DE MAN ANA APARTMENTS.THE ORGANIZATION CONTINUED AS MEMBER OF TG 110 VILLAGE AT MCARDLE GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 VILLAGE AT MCARDLE, LP THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 82-UNIT VILLAGE AT MCARDLE APARTMENTS. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 PALMS AT BLUCHER PARK GP, LLC, WHICH IS THE GENERAL PAR1NERINTG 110 PALMS AT BLUCHER PARK, LP THAT PURCHASED LAND TO CONSTRUCT, OWN, AND OPERATE THE 72-UNIT PALMS AT BLUCHER PARK APARTMENTS. THE PROJECT IS CURRENTLY UNDER CONSTRUCTION.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,000
Program Service Revenue $971,025
Investment Income $1,344
Other Revenue $59,439
TOTAL REVENUE $1,032,808

Expense Breakdown

Grants Paid $1,000
Salaries & Benefits $122,061
Fundraising Expenses $0
Program Expenses $1,326,330
Other Expenses $1,377,048
TOTAL EXPENSES $1,500,109

Year-over-Year Comparison

2023 2022 Change
Revenue $1,032,808 $3,335,656 -0.7%
Expenses $1,500,109 $1,196,586 +0.3%
Net Income $-467,301 $2,139,070 -1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
6

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$522,795
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CINDY BOSTON DIRECTOR 0.10
Director
$0 $0 $0
DEBRA SMITH TREASURER 0.10
Officer Director
$0 $0 $0
EVERETT ROY CHAIR (OUTGOING) 0.10
Officer Director
$0 $0 $0
GUADALUPE FEREGRINO SECRETARY 0.10
Officer Director
$0 $0 $0
JEANETTE COATS ASST SECRETARY 0.10
Officer Director
$0 $0 $0
LAMONT TAYLOR VICE CHAIR 0.10
Officer Director
$0 $0 $0
JACLYN S WOODRING EXECUTIVE DIRECTOR 0.10
Officer
$24,000 $20,876 $317,976
JAMES BUTCHER MANAGEMENT AGENT SVPFA 0.10
Officer
$0 $6,729 $204,819
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,032,808 $1,500,109 $22,611,272 $-467,301
2022 $3,335,656 $1,196,586 $21,771,900 $2,139,070
2021 $4,591,557 $192,639 $18,817,308 $4,398,918
2021 $5,538,385 $221,838 $15,143,089 $5,316,547
2020 $157,161 $342,946 $3,846,696 $-185,785
2019 $-1,304,955 $188,807 $3,995,622 $-1,493,762
2018 $1,640,942 $839,886 $5,677,826 $801,056
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