Erf Tower Ii Inc
Nonprofit profile at a glance
- EIN
- 474191656
- IRS 990 coverage
- 2015–2018
- Forms available
- Form 990 2018
- Location
- Corpus Christi, TX, USA
- Phone
- 3618819040
- Rating confidence
- Limited
- Sector
- Real Estate Associations
Reported finances
- Revenue
- $0
- Expenses
- $0
- Assets
- $14,903,571
- Liabilities
- $282,509
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- PAUL D ALTHEIDE (PRESIDENT)
Highest reported compensation
- PAUL D ALTHEIDE (PRESIDENT): $489,391 total reported compensation
- MYRA K MORRIS (CHIEF LEGAL): $318,543 total reported compensation
- JOHN P JORDAN (VICE PRESIDE): $192,940 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
This organization was organized for the exclusive purpose of holding title to real estate, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization exempt from taxation under section 501(a) of the internal revenue code. At the time of its formation, the organization was a title holding company of the ed rachal foundation (EIN: 74-1116595), a section 501(c)(3) private foundation. As explained below, the ed rachal foundation restructured its relationships to its title holding companies during the taxable year; consequently, this organization is now a title holding company of erf real estate, inc. (EIN: 20-2661759), a section 501(c)(2) title holding company. Erf tower ii, inc. Remains organized and operated for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to erf real estate, inc. Attached are true and correct copies of the certificates of filing
What it reported doing in 2018
The organization is organized and operated for the exclusive purpose of holding title to real estate, collecting income therefrom, and turning over the entire amount thereof, less expenses, to erf real estate, inc. (eih: 20-2661759), a section 501(c)(2) title holding company.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 57
- Accountability: 42
- Sustainability: 3
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 7th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: Limited
- Total-asset coverage ratio: Limited
- Liabilities to assets ratio: 0.02; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: -120% per year; rating input score 0; 1st percentile among comparable filings
- Revenue growth: -120% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: -5.6% per year; rating input score 0; 24th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 6 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $489K · 9 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $126K reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 4 filing years from 2015 to 2018
- Contacts: How to reach this organization
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
- High — Growth: Asset growth scored 0/100.