Plano Housing Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Plano Housing Corporation, The Organization, is involved in construction of not-for-profit housing and urban rehabilitation, in cooperation and coordination with the City of Plano, TX for the acquisition, establishment, improvement, and maintenance of housing to benefit all citizens and residents of the City of Plano, TX.
- Income
- $729,397
- Spending
- $554,018
- Spent on programs
- 54%
- Reserves
- 99.3 months of spending
- Largest source of income
- fees for its services, 82%
- Employees
- 1
- Volunteers
- 45
- Highest pay
- $160,000, executive dir.
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
Strong: 93 out of 100. Higher than 88% of charities in its peer group (housing, $250k to $1m).
Reserves
35 of 35Spendable reserves would cover 99.3 months of spending.
Debt
20 of 20It owes 1% of what it owns.
Living within its means
15 of 15Income exceeded spending by 24% of income.
Income trend
15 of 15Income rose 86% on the year before.
Spending floor
8 of 1554% 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: 80 out of 100. Higher than 48% of charities in its peer group (housing, $250k to $1m).
Independent board
5 of 250 of 3 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
10 of 10Gave 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)
- $301,129 spent. The purpose of Plano Housing Corporation (PHC)is to become involved in construction of not-for-profit housing and urban rehabilitation in Collin County, Texas, in cooperation and coordination with the city of Plano, Texas for the acquisition, establishment, improvement, and maintenance of housing to benefit all citizens and residents of the City of Plano, Texas and especially those persons disadvantaged in any way. Plano Housing Corporation through Plano Family 001, LP has purchased land in downtown Plano and closed on the property July 31, 2019 and construction began in August 2019 on the one hundred thirty-nine (139) units of Phase One Patriot Park. Patriot Park is available to the general population, but with preferences for artists and for Veterans. This is the first phase of a two phase project which will have a minimum of two-hundred twenty (220) units in total. As of year end 2020 Patriot Park is approximately seventy-five percent (75%) complete with an estimated date of completion and one hundred percent (100%) occupancy in mid 2021. Predevelopment work has started on Phase II for Patriot Park for the remaining additional eighty-one (81) units. Veranda 40 Town-homes land was purchased and exchange of 2016 credits to 2018 credits were approved in May 2018 by the TDHCA. Construction to build forty (40) townhomes for workforce housing in North Plano, Texas started in March 2019. In September of 2020 Veranda Town homes' forty (40) units were completed and certificates of occupancy granted by the City of Plano, Texas. Veranda Townhomes are one-hundred percent (100%) Project Based Walker Vouchers with a twenty (20) year contract. By November 2020 Veranda Townhomes were one-hundred percent (100%)leased. Douglas Visions (a Plano, Texas nonprofit) was engaged to provide social services to the residents of Patriot Park and Veranda Townhomes. Douglass Visions has deep roots in the community and a excellent history of serving the City of Plano, Texas. The teams in place will assure upward mobility for the residents living in Patriot Park and Veranda Townhomes. Integrating these families into the community and connecting with services needed will be paramount to their success and the success of these properties.Patriot Park and Veranda Townhomes continue to remain one-hundred percent (100%) occupied in 2021. Plano Housing Corporation has invested proceeds for the needs of these residents during the Covid pandemic working with local individuals and other nonprofit organizations.Phase II of Patriot Park vacant land was sold in 2021. PHC completed predevelopment on the site including approved site plan to facilitate the sale of the property. Proceeds from the sale of the property were placed in certificates of deposits. PHC started receiving developer fees on Veranda and Patriot Park and was able to make donations to the community in order to fulfill its promise to the community for supporting Veranda and Patriot Park.Predevelopment and market analysis continues on potential Eco homes in Garland, TX with Citi Salutes. Volunteer hours from individuals in the community, Citibank, and Douglas Visions were over two thousand (2,000) hours. This number was less than prior years due to Covid restrictions.In 2023 the PHC board of directors and the executive director continued to be involved in the day to day operations of Patriot Park and Veranda Townhomes. They worked with Legacy Church and Citibank volunteers to provide social services, stock food pantries, provide rental assistance, and other activities for the residents as well as mentoring life skills to the residents. Plano Housing Corporation provides outreach to the local community and other nonprofit organizations. PHC has continued its support of local nonprofits in Collin County Texas through donations to assist those in need in order to honor its commitment to the Plano Texas City Council. Plano Housing Corporation continued its annual Christmas drive to provide food and presents to not only its residents but also to others in the community that needed assistance. In cooperation with Legacy Church approximately one thousand (1,000) man hours were provided to feed the residents of Patriot Park. In 2024 and 2023 Citi Bank provided over thirteen hundred and eight hundred (800) hours, respectively to Veranda and Patriot Park to the benefit of those residents. In addition to the above, over five-hundred (500) man hours were provided by residents of the properties and the local community for afternoon tutoring and mentoring to the children and adults of Patriot Park and Veranda Townhomes. Plano Housing Corporation continued supporting nonprofits on the front line of preventing and helping the homeless in downtown Plano, Texas by providing financial assistance. In 2023 a marked improvement was noted in the properties due to the maintenance efforts and additional investment in the property. PHC continues to strive to make the low income properties, Patriot Park and Veranda Townhomes, model communities in terms or maintaining the properties themselves and also serving the residents. In 2024 a jobs training program was initiated for tax credit property management by PHC onsite at Patriot Park and Veranda Townhomes. Trained personnel continues to be a huge issue in the Plano, TX area and as such PHC is investing in training and also hired industry consultants to facilitate training. The summer intern program was facilitated for high school students to come onsite at the properties to create and manage activities for the children living at the properties. It is a huge benefit to the properties to have the kids entertained and provide education series for the kids such as nutrition, exercise and maintaining healthy habits. PHC made a commitment to the Plano City Council in 2019 that if a tax credit allocation was received for the two properties, Patriot Park and Veranda Townhomes, PHC would donate/invest up to fifty percent (50%) of proceeds/developer fe
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 October 1992.
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.
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