TG 304 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

2001

Legal Domicile

Principal Officer

JACLYN S WOODRING

Phone

2108214300

Tax Period

2023-01-01 to 2023-12-31

TG 304 INC, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $430K in total revenue in fiscal year 2023. Expenses of $378K left a modest 12% surplus.

Mission

THE ORGANIZATION WAS INCORPORATED AS A NONPROFIT CORPORATION IN THE STATE OF TEXAS ON OCTOBER 10, 2001. THE MISSION OF THE ORGANIZATION IS TO PRESERVE AFFORDABLE HOUSING FOR FAMILIES, TO PROMOTE A STRONG RESIDENT COMMUNITY, AND TO ASSIST RESIDENTS TO ACHIEVE SOCIAL AND ECONOMIC INDEPENDENCE.THE PRIMARY ACTIVITY OF THE ORGANIZATION IS THE OWNERSHIP AND OPERATION OF THE NOLAN TERRACE APARTMENTS, A 40-UNIT APARTMENT COMPLEX LOCATED AT 221 PEACH STREET, LULING, TEXAS 78648 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 40 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: $338,225 Revenue: $430,162

DURING THE REPORTING PERIOD, THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE ALL 40 UNITS AVAILABLE FOR LOW-INCOME FAMILIES AND INDIVIDUALS. THE...

DURING THE REPORTING PERIOD, THE ORGANIZATION SUSTAINED THE HUD PROPERTY BASED SECTION 8 HAP CONTRACT AND CONTINUED TO MAKE ALL 40 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.CALDWELL 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 SERVICESAFTER-SCHOOL YOUTH PROGRAMON-LINE COMPUTER ACCESS AND TRAININGHEALTH FAIRSFINANCIAL LITERACY CLASSESJOB SKILLS CLASSESNATIONAL NIGHT OUT AND HOLIDAY CELEBRATIONS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $427,560

Investment Income $88

Other Revenue $2,602

TOTAL REVENUE $430,250

Expense Breakdown

Grants Paid $0

Salaries & Benefits $63,035

Fundraising Expenses $0

Program Expenses $338,225

Other Expenses $314,862

TOTAL EXPENSES $377,897

Year-over-Year Comparison

	2023	2022	Change
Revenue	$430,250	$412,886	+0.0%
Expenses	$377,897	$404,962	-0.1%
Net Income	$52,353	$7,924	+5.6%

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

$522,795

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUDREY DAVENPORT	TREASURER	0.10	Officer Director	$0	$0	$0
BEVERLY HAUG	VICE CHAIR	0.10	Officer Director	$0	$0	$0
EDGAR CHAMBERS	CHAIR	0.10	Officer Director	$0	$0	$0
NORMA JEAN PARR	SECRETARY	0.10	Officer Director	$0	$0	$0
SUE GAIL CROUCH	ASSISTANT SECRETARY(OUTGOING)	0.10	Officer Director	$0	$0	$0
JACLYN S WOODRING	EXECUTIVE DIRECTOR	0.10	Officer	$0	$20,876	$317,976
JAMES BUTCHER	MANAGEMENT AGENT CFO	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	$430,250	$377,897	$919,400	$52,353
2022	$412,886	$404,962	$895,645	$7,924
2021	$204,986	$224,159	$854,513	$-19,173
2021	$401,388	$412,156	$879,271	$-10,768
2020	$379,179	$363,333	$880,100	$15,846
2019	$368,536	$351,276	$862,441	$17,260
2018	$372,949	$329,713	$876,487	$43,236