Tg 306 Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
THE ORGANIZATION WAS INCORPORATED AS A NONPROFIT CORPORATION IN THE STATE OF TEXAS ON JULY 23, 2002. THE MISSION OF THE ORGANIZATION IS TO PRESERVE AFFORDABLE HOUSING FOR FAMILIES, TO PROMOTE A STRONG COMMUNITY, AND TO ASSIST RESIDENTS TO ACHIEVE ECONOMIC INDEPENDENCE.THE PRIMARY ACTIVITY OF THE ORGANIZATION IS THE OWNERSHIP AND OPERATION OF THE POESTA CREEK APARTMENTS, A 5O-UNIT APARTMENT COMPLEX LOCATED AT 1301 SOUTH TYLER STREET, BEEVILLE, TEXAS 78102 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.
- Income
- $638,610
- Spending
- $648,395
- Spent on programs
- 94%
- Reserves
- -53.1 months of spending
- Largest source of income
- fees for its services, 98%
- Employees
- 0
- Volunteers
- 4
- Highest pay
- $352,294, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 38 out of 100. Higher than 25% of charities in its peer group (housing, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 101% of what it owns.
Living within its means
8 of 15Spending exceeded income by 2% of income.
Income trend
15 of 15Income rose 5% on the year before.
Spending floor
15 of 1594% of spending went to programs.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 83 out of 100. Higher than 55% of charities in its peer group (housing, $250k to $1m).
Independent board
18 of 254 of 4 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $607,243 spent. DURING THE REPORTING PERIOD, 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 AND THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS (TDHCA) FROM WHICH THE ORGANIZATION RECEIVED FUNDING FOR PROPERTY REHABILITATION.THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED:INTERNAL REVENUE SERVICE 50L(C)(3) INCOME TAX EXEMPTION.BEE 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 COMPUTER LEARNING CENTER ADMINISTERED BY THE PROPERTY MANAGER THAT WAS AVAILABLE TO RESIDENTS ON A DAILY BASIS. THE ORGANIZATION CONTINUED TO PROVIDE RESIDENT ACTIVITIES INCLUDING:NATIONAL AFFORDABLE HOUSING MANAGEMENT ASSOCIATION (NAHMA) DRUG FREE POSTER ART CONTESTNATIONAL NIGHT OUT AND HOLIDAY CELEBRATIONS.AFTER SCHOOL PROGRAM 1-2 DAYS PER WEEK OPERATED BY RESIDENT VOLUNTEERS.REHABILITATION PROJECT:THE ORGANIZATION COMPLETED A PROJECT IN FISCAL YEAR 2020 TO REHABILITATE THE 50 UNITS OF THE APARTMENT COMPLEX AND CERTAIN OF ITS LAND IMPROVEMENTS. IN FISCAL YEAR 2020, THE ORGANIZATION PLACED INTO SERVICE $2,701,882 OF FIXED ASSETS FROM THE PROJECT. REHABILITATION COSTS WERE FUNDED FROM OWNER NON-OPERATING CASH, LOANS, RELATED PARTY ADVANCES, GRANTS, INSURANCE, AND CONTRIBUTIONS OF PROFESSIONAL SERVICES.THE ORGANIZATION PROVIDED NON-OPERATING FUNDS OF $167,000 AS PART OF ITS COMMITMENT. THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS (TDHCA) AWARDED THE ORGANIZATION A $2,000,000 HOME PROGRAM MULTIFAMILY DIRECT LOAN. HOUSING AND COMMUNITY SERVICES, INC. PROVIDED A LOAN OF $371,012 AS WELL AS ADVANCING ADDITIONAL FUNDS OF $628,618 AS DIRECT PAYMENTS TO VENDORS ON BEHALF OF THE ORGANIZATION. THE TDHCA AWARDED A $50,000 OPERATING EXPENSES GRANT FOR COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) HOME CONTRACT. THE CITY OF BEEVILLE, TEXAS THROUGH THE BEEVILLE ECONOMIC IMPROVEMENT BOARD AWARDED A $50,000 GRANT TO SUPPLEMENT REHABILITATION COSTS AND TO MEET LOCAL PARTICIPATION REQUIREMENTS. TG 110, INC., AN INCOME TAX EXEMPT 501(C)(3) ENTITY, PROVIDED A $150,000 GRANT TO FUND REPLACEMENT OF THE ROOFS. INSURANCE CLAIM PROCEEDS OF $19,072 RESULTING FROM HURRICANE DAMAGE WAS ALSO RECEIVED. PROFESSIONAL SERVICES PROVIDERS CONTRIBUTED PERFORMED SERVICES OF $122,630.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since January 2003.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.