Texo Foundation

Nonprofit profile at a glance

EIN
752255527
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Dallas, TX, USA
Phone
9726470697
Rating
50
Verdict
MIXED
Rating confidence
Standard
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,312,352
Expenses
$345,147
Assets
$2,254,690
Liabilities
$63,162

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • MELONI RANEY (PRESIDENT/CEO)

Highest reported compensation

  • MELONI RANEY (PRESIDENT/CEO): $297,832 total reported compensation
  • TODD HOLTZ (VP OF OPERATIONS): $199,203 total reported compensation
  • ASHLYN SMITH (VP OF MEMBER PROGRAMS AND SERV): $153,937 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We develop innovative programs, provide scholarships, offer education grants, which support the construction education community.

What it reported doing in 2024

University grants and student scholarships in areas of construction and civil engineering.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 58
  • Accountability: 69
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.6%; rating input score 14
  • Program expense ratio: 42.3%; rating input score 42
  • Fundraising efficiency: $22.03 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 1st 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: 66.3%; rating input score 66; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 62.5%; rating input score 62; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 73.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 6.53; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 42%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 17.1% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 13.6% of revenue deployed · 42.3% of spending went to programs
  • Governance: 5 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $146K in reported program spending
  • Leadership: top reported pay $298K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 35 current checks pass · 3 findings to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 14/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 42/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Transparency & Controls: Schedule D other securities reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.