Civic Intelligence

Texas School Venture Fund

EIN 81-3674046 • 501(c)3 • Houston, TX

Pub. 78 Eligible990-N Coverage

Profile

The Texas School Venture Fund's mission is to increase the supply and diversity of great schools in communities where families want more options, thereby getting to the day when there is enough quality and diversity in school options.

3900 Essex Lane NO 1200Houston, TX 77027

www.txsvf.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

75th percentile

0.20x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

86th percentile

0.45x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

51st percentile

4.9%

Higher net margin than 51% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

32nd percentile

-2.9%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

8th percentile

-40%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$393,520

Down $212,003 (-35%) from 2023

Liabilities

Down

$93,275

Down $28,610 (-23%) from 2023

Net Assets

Down

$300,245

Down $183,393 (-38%) from 2023

Operations
Liabilities / Revenue86th percentileNet Margin51st percentile

Revenue

Down

$212,826

Down $56,542 (-21%) from 2023

Expenses

Up

$359,878

Up $103,774 (+41%) from 2023

Net Income

Down

-$147,052

Down $160,316 (-1209%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2018: $297,047Liabilities 2018: $41,000Net Assets 2018: $256,0472018Assets 2019: $292,001Liabilities 2019: $5,220Net Assets 2019: $286,7812019Assets 2020: $448,857Liabilities 2020: $150,413Net Assets 2020: $298,4442020Assets 2021: $654,986Liabilities 2021: $173,038Net Assets 2021: $481,9482021Assets 2022: $623,755Liabilities 2022: $151,256Net Assets 2022: $472,4992022Assets 2023: $605,523Liabilities 2023: $121,885Net Assets 2023: $483,6382023Assets 2024: $393,520Liabilities 2024: $93,275Net Assets 2024: $300,2452024

Highlighted filing

2024

Assets$393,520
Liabilities$93,275
Net Assets$300,245
Open 2024 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2018: $320,657Expenses 2018: $64,610Net Income 2018: $256,0472018Revenue 2019: $357,157Expenses 2019: $326,423Net Income 2019: $30,7342019Revenue 2020: $296,944Expenses 2020: $285,281Net Income 2020: $11,6632020Revenue 2021: $493,731Expenses 2021: $310,248Net Income 2021: $183,4832021Revenue 2022: $452,488Expenses 2022: $461,938Net Income 2022: -$9,4502022Revenue 2023: $269,368Expenses 2023: $256,104Net Income 2023: $13,2642023Revenue 2024: $212,826Expenses 2024: $359,878Net Income 2024: -$147,0522024

Highlighted filing

2024

Revenue$212,826
Expenses$359,878
Net Income-$147,052
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$393,520
Liabilities
$93,275
Net assets
$300,245
Revenue
$212,826
Expenses
$359,878
Net income
-$147,052
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.94$0.93$3.00$2.13$3.60$1.47
2023Detailed filing. Detailed filing data is available for this year.$6.06$1.22$4.84$2.69$2.56$0.13
2022Detailed filing. Detailed filing data is available for this year.$6.24$1.51$4.72$4.52$4.62$0.09
2021Detailed filing. Detailed filing data is available for this year.$6.55$1.73$4.82$4.94$3.10$1.83
2020Detailed filing. Detailed filing data is available for this year.$4.49$1.50$2.98$2.97$2.85$0.12
2019Detailed filing. Detailed filing data is available for this year.$2.92$0.05$2.87$3.57$3.26$0.31
2018Detailed filing. Detailed filing data is available for this year.$2.97$0.41$2.56$3.21$0.65$2.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 21, 2025
Return Version
2024v5.1
Gross Receipts
$212,826
Mission and Program Overview

Mission

The Texas School Venture Fund's mission is to increase the supply and diversity of great schools in communities where families want more options, thereby getting to the day when there is enough quality and diversity in school options.

Help start new schools and help grow great school options in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$534,383$358,743▼ $175,640
Rtn Earn Endowment Incm Other Fnds$483,638$300,245▼ $183,393
Accounts Receivable$36,364--
Prepaid Expenses and Deferred Charges$19,769$19,769→ $0
Other Notes and Loans Receivable, Net$15,007$15,008▲ $1
Total Assets$605,523$393,520▼ $212,003
Liabilities
Mortgage Notes Payable Secured by Investment Property$139,563$131,162▼ $8,401
Accounts Payable and Accrued Expenses$-17,678$-37,887▼ $20,209
Total Liabilities$121,885$93,275▼ $28,610
Net Assets / Fund Balance
Total Net Assets Fund Balance$483,638$300,245▼ $183,393
Total Liabilities and Net Assets / Fund Balance$605,523$393,520▼ $212,003
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Leo Linbeck IIIChair
Mike FeinbergPresident
Howard FullerDirector
Karol MusherDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Third Frontier LLCManagement Services3900 Essex Ave Suite 1200, Houston, TX 77227$176,000
Revenue and Support

Revenue Composition

Contributions and Grants
$157,835
Program Service Revenue
$54,000
Investment Income
$991
Other Revenue
$0
All Other Contributions
$157,835
Change in Net Assets
$-147,052
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$359,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$252,031$0$0$252,031
Advertising$71,307$0$0$71,307
Occupancy$0$10,010$0$10,010
Conferences and Meetings$5,000$0$0$5,000
Fees for Services Other$0$4,000$0$4,000
Office Expenses$0$3,309$0$3,309
Other Expenses$1,975$0$0$1,975
Travel$1,267$0$0$1,267
Information Technology$1,162$0$0$1,162
Fees for Services Accounting$0$850$0$850
Interest$178$0$0$178
Total Functional Expenses$332,968$26,910$0$359,878
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Leo Linbeck IIIChairManagement ServicesNo$176,000
Mike FeinbergPresidentManagement ServicesNo$176,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Texas School Venture Fund
EIN
81-3674046
Phone
7132020549
Address
3900 Essex Lane NO 1200, Houston, TX 77027

Signing Officer

Name
Mike Feinberg
Title
President
Phone
7132020549
Signed
2025-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Feinberg
Formed
2018
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
J & K CPA LLC
Address
108 E 3RD, SWEENY, TX 77480
Preparer
Jada Faber
Phone
9795483782
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Mike Feinberg is a president of Third Frontier, LLC, a wholly owned subsidary of Aquinas Corporation. Leo Linbeck III has a controlling interest in Aquinas, owned by Greater Houston Community Foundation and Linbeck Family Charitable Trust.”

Pt VI, Line 3

“Third Frontier, LLC was approved with unanimous board consent (Linbeck and Feinberg not voting due to conflict of interest) to provide management services to Texas School Venture Fund. Feinberg is president of Third Frontier, LLC.”

Pt VI, Line 8B

“There were no committees given authority to act on behalf of the governing body.”

Pt VI, Line 11B

“The management team prepares the form 990 and submits a copy to the executive board for comment before filing.”

Pt VI, Line 12C

“Board members sign a conflict of interest statement each year and in the even of a conflict, a board member must disclose the existsence of his or her financial interests and must be given the oppurtunity to disclose all material facts. The board member will recuse themselves and the remaining board will decide if a conflict of interest exists and whether the contract or transition under discussion is in the best interests of the fund. There are periodic reviews of existing contracts and service providers to acertain whether any conflicts exist.”

Pt VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0384525
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0177518
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01165379
IRS990ScheduleA/TotalSupportAmt01181362
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Leo Linbeck III
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1Mike Feinberg
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Chair
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1President
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0176000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1176000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Management Services
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Management Services
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Business Transcations Involving Interested Persons:(a) Name of Person: Leo Linbeck III (d) Description of Transaction: Management services for the organization are provided by Third Frontier LLC. Mr. Linbeck is a principal with that organization. The amount shown is the total amount paid to Third Frontier LLC
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt1Business Transcations Involving Interested Persons:(a) Name of Person: Mike Feinberg (d) Description of Transaction: Management services for the organization are provided by Third Frontier LLC. Mr. Feinberg is a principal with that organization. The amount shown is the total amount paid to Third Frontier LLC
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Sch L, Part IV
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc1Sch L, Part IV
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Mike Feinberg is a president of Third Frontier, LLC, a wholly owned subsidary of Aquinas Corporation. Leo Linbeck III has a controlling interest in Aquinas, owned by Greater Houston Community Foundation and Linbeck Family Charitable Trust.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Third Frontier, LLC was approved with unanimous board consent (Linbeck and Feinberg not voting due to conflict of interest) to provide management services to Texas School Venture Fund. Feinberg is president of Third Frontier, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2There were no committees given authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The management team prepares the form 990 and submits a copy to the executive board for comment before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Board members sign a conflict of interest statement each year and in the even of a conflict, a board member must disclose the existsence of his or her financial interests and must be given the oppurtunity to disclose all material facts. The board member will recuse themselves and the remaining board will decide if a conflict of interest exists and whether the contract or transition under discussion is in the best interests of the fund. There are periodic reviews of existing contracts and service providers to acertain whether any conflicts exist.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0605523
IRS990/TotalAssetsEOYAmt0393520
IRS990/TotalAssetsGrp/BOYAmt0605523
IRS990/TotalAssetsGrp/EOYAmt0393520
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0157835
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026910
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0332968
IRS990/TotalFunctionalExpensesGrp/TotalAmt0359878
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0121885
IRS990/TotalLiabilitiesEOYAmt093275
IRS990/TotalLiabilitiesGrp/BOYAmt0121885
IRS990/TotalLiabilitiesGrp/EOYAmt093275
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0483638
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0300245
IRS990/TotalProgramServiceExpensesAmt0332968
IRS990/TotalProgramServiceRevenueAmt054000
IRS990/TotalRevenueGrp/ExclusionAmt0991
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt054000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0212826
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0605523
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0393520
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt01267
IRS990/TravelGrp/TotalAmt01267
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03900 Essex Lane NO 1200
IRS990/USAddress/CityNm0Houston
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077027
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.txsvf.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mike Feinberg
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum07132020549
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Texas School Venture Fund
ReturnHeader/Filer/BusinessNameControlTxt0TEXA
ReturnHeader/Filer/EIN0813674046
ReturnHeader/Filer/PhoneNum07132020549
ReturnHeader/Filer/USAddress/AddressLine1Txt03900 Essex Lane NO 1200
ReturnHeader/Filer/USAddress/CityNm0Houston
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077027
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0824552497
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J & K CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0108 E 3RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SWEENY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077480
ReturnHeader/PreparerPersonGrp/PhoneNum09795483782
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jada Faber
ReturnHeader/ReturnTs02025-04-01T12:29:14-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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