Tg 110 Inc

What it reported doing in 2024

The following tax exemptions continued to be received: internal revenue service 501(c)(3) income tax exemption. Nueces county, Texas, appraisal district property tax exemptions. State of Texas franchise tax exemption. State of Texas sales tax exemption.the organization continued as the sole member of tg 110 village at greenwood gp, llc that purchased land to construct, own, and operate the 69-unit village at greenwood apartments. The project completed construction in 2022. A Texas general office construction grant provided the primary construction funding.tax credit entities: the organization formed entities to acquire, develop, construct, and operate low-income multifamily properties in corpus christi, Texas using tax credits. The organization through single member limited liability companies and limited partnerships maintained property operations in compliance with the regulations of hud and the Texas department of housing and community affairs. The organization continued as the sole member of tg 110 lexington gp, llc, which is the general partner in the 110 lexington, lp that owns and operates the 153-unit lexington manor apartments. The organization continued as the sole member of the palms at leopard gp, llc, which is the general partner in the palms at leopard, ltd. That owns and operates the 120-unit palms at leopard apartments.the organization continued as the sole member of wca gp, llc, which is the general partner in wca, lp that owns and operates the 94-unit woodland creek apartments.the organization continued as the sole member of tg 110 glenoak lp, llc, which is the general partner in tg 110 glenoak, lp that owns and operates the 68-unit glenoak apartments.the organization continued as the sole member of prosperahcs calallen gp, llc, which is the general partner in prosperahcs calallen, lp that owns and operates the 96-unit calallen apartments.the organization continued as the sole member of tg 110 samuel place gp, llc, which is the general partner in tg 110 samuel place, lp that owns and operates the 60-unit samuel place apartments.the organization continued as the sole member of tg 110 village at henderson gp, llc, which is the general partner in tg 110 village at henderson, lp that owns and operates the 88-unit village at henderson apartments. The organization continued as the sole member of tg 110 casa de manana gp, llc, which is the general partner in tg 110 casa de manana, lp that owns and operates the 99-unit casa de manana apartments.the organization continued as the sole member of tg 110 village at mcardle gp, llc, which is the general partner in tg 110 village at mcardle, lp that owns and operates the 82-unit village at mcardle apartments. The organization continued as the sole member of tg 110 palms at blucher park gp, llc, which is the general partner in tg 110 palms at blucher park, lp that owns and operates the 72-unit palms at blucher park apartments.

Financial Efficiency

• Mission deployment rate: 91.6%; rating input score 92
• Program expense ratio: 92.7%; rating input score 93
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.1%; rating input score 36; 36th percentile among comparable filings
• Total-asset coverage ratio: 15.49; rating input score 95; 95th percentile among comparable filings
• Liabilities to assets ratio: 0.24; rating input score 29; 29th percentile among comparable filings
• Officer compensation ratio: 4.2%; rating input score 55; 55th percentile among comparable filings

Growth

• Program expense growth: -10.9% per year; rating input score 0; 4th percentile among comparable filings
• Revenue growth: -3.1% per year; rating input score 0; 7th percentile among comparable filings
• Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings