TG 302 INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

JACLYN S WOODRING

Phone

2108214300

Tax Period

2024-01-01 to 2024-12-31

TG 302 INC, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $614K in total revenue in fiscal year 2024. The organization ran a surplus of $94K, a strong 15% operating margin.

Mission

THE ORGANIZATION WAS INCORPORATED AS A NONPROFIT CORPORATION IN THE STATE OF TEXAS ON JANUARY 24, 2000. THE MISSION OF THE ORGANIZATION IS TO PRESERVE AFFORDABLE HOUSING FOR FAMILIES, TO PROMOTE A STRONG RESIDENT COMMUNITY, AND TO ASSIST RESIDENTS TO ACHIEVE ECONOMIC INDEPENDENCE.THE PRIMARY ACTIVITY OF THE ORGANIZATION IS THE OWNERSHIP AND OPERATION OF THE HARRISON MANOR APARTMENTS, A 50-UNIT APARTMENT COMPLEX LOCATED AT 601 SOUTH 17TH STREET, HARLINGEN, TEXAS 78415 FOR THE BENEFIT OF VERY LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINS A U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) PROPERTY BASED SECTION 8 HOUSING ASSISTANCE PAYMENT (HAP) RENTAL ASSISTANCE CONTRACT FOR ALL 50 UNITS. THE HAP RENT ASSISTED UNITS ARE MADE AVAILABLE TO FAMILIES AND INDIVIDUALS WITH INCOMES OF LESS THAN 30% OF AREA MEDIAN INCOME.

Program Service Accomplishments

Program 1

Expenses: $477,840 Revenue: $612,128

THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE ALL 50 UNITS AVAILABLE FOR LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINED PROPERTY...

THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE ALL 50 UNITS AVAILABLE FOR LOW-INCOME FAMILIES AND INDIVIDUALS. THE ORGANIZATION MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF HUD.THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION, CAMERON COUNTY, TEXAS, APPRAISAL DISTRICT 100% PROPERTY TAX EXEMPTION, STATE OF TEXAS FRANCHISE TAX EXEMPTION, STATE OF TEXAS SALES TAX EXEMPTION.THE ORGANIZATION CONTINUED TO OPERATE AN ON-SITE HUD CERTIFIED NEIGHBORHOOD NETWORKS CENTER AT WHICH THE ORGANIZATION PROVIDED PROGRAMS, ACTIVITIES, AND SERVICES FOR THE YOUTH AND ADULT RESIDENTS AND SURROUNDING COMMUNITY. PROGRAMS, ACTIVITIES, AND SERVICES INCLUDED:CASE MANAGEMENT (INFORMAL) AND REFERRAL SERVICES AFTER-SCHOOL YOUTH PROGRAMON-LINE COMPUTER ACCESS AND TRAININGADULT LEARNING OPPORTUNITIESARTS & CRAFTS FINANCIAL/BUDGETING CLASSES AND NUTRITION CLASSESNATIONAL NIGHT OUT AND HOLIDAY CELEBRATIONSNATIONAL AFFORDABLE HOUSING MANAGEMENT ASSOCIATION (NAHMA) DRUG FREE POSTER ART CONTEST

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $605,818

Investment Income $1,879

Other Revenue $6,310

TOTAL REVENUE $614,007

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,189

Fundraising Expenses $0

Program Expenses $477,840

Other Expenses $423,797

TOTAL EXPENSES $519,986

Year-over-Year Comparison

	2024	2023	Change
Revenue	$614,007	$588,113	+0.0%
Expenses	$519,986	$465,512	+0.1%
Net Income	$94,021	$122,601	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$556,372

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYNTHIA RODRIQUEZ	TREASURER	0.10	Officer Director	$0	$0	$0
DEBBIE ALFORD	CHAIR	0.10	Officer Director	$0	$0	$0
NIDIA RUIZ	VICE CHAIR	0.10	Officer Director	$0	$0	$0
JACLYN S WOODRING	EXECUTIVE DIRECTOR	0.10	Officer	$0	$29,794	$352,294
JAMES BUTCHER	MANAGEMENT AGENT CFO	0.10	Officer	$0	$6,001	$204,078

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	$614,007	$519,986	$1,738,155	$94,021
2023	$588,113	$465,512	$1,713,149	$122,601
2022	$582,485	$698,758	$1,666,546	$-116,273
2021	$272,057	$355,229	$1,916,053	$-83,172
2021	$665,577	$454,912	$2,023,567	$210,665
2020	$500,220	$619,311	$1,861,037	$-119,091
2019	$540,968	$467,721	$1,931,922	$73,247
2018	$520,174	$431,998	$1,926,923	$88,176