Civic Intelligence

Friends of Trtf

990 • Fiscal year 2019 • EIN 84-4065430

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 15, 2020

Organization ProfileN/A
1305 E Houston StSan Antonio, TX 78205

(210) 866-8073

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

92nd percentile

$388,500

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

$7,242,700

No earlier filing loaded for comparison.

Net Assets

$7,242,700

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin100th percentile

Revenue

$7,242,700

No earlier filing loaded for comparison.

Expenses

$0

No earlier filing loaded for comparison.

Net Income

$7,242,700

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2019: $7,242,700Liabilities 2019: $0Net Assets 2019: $7,242,7002019Assets 2020: $7,315,478Liabilities 2020: $0Net Assets 2020: $7,315,4782020Assets 2021: $7,387,837Liabilities 2021: $300Net Assets 2021: $7,387,5372021Assets 2022: $7,460,482Liabilities 2022: $995Net Assets 2022: $7,459,4872022Assets 2023: $7,532,838Liabilities 2023: $995Net Assets 2023: $7,531,8432023Assets 2024: $7,604,936Liabilities 2024: $6,269Net Assets 2024: $7,598,6672024

Highlighted filing

2019

Assets$7,242,700
Liabilities$0
Net Assets$7,242,700
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2019: $7,242,700Expenses 2019: $0Net Income 2019: $7,242,7002019Revenue 2020: $72,829Expenses 2020: $51Net Income 2020: $72,7782020Revenue 2021: $73,212Expenses 2021: $1,153Net Income 2021: $72,0592021Revenue 2022: $72,738Expenses 2022: $788Net Income 2022: $71,9502022Revenue 2023: $72,427Expenses 2023: $71Net Income 2023: $72,3562023Revenue 2024: $72,116Expenses 2024: $5,292Net Income 2024: $66,8242024

Highlighted filing

2019

Revenue$7,242,700
Expenses$0
Net Income$7,242,700
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 15, 2020
Return Version
2019v5.1
Gross Receipts
$7,242,700
Mission and Program Overview

Mission

To support texas research and technology foundation (trtf) through the federal new markets tax credit program.

the support texas research and technology foundation (TRTF) through the federal new markets tax credit program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$0$7,242,700▲ $7,242,700
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$7,242,700▲ $7,242,700
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$7,242,700▲ $7,242,700
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$7,242,700▲ $7,242,700
Total Liabilities and Net Assets / Fund Balance$0$7,242,700▲ $7,242,700
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleOtherTotal
krista m coveyVP - VelocityTX$145,506$145,506
david fonsecaVP - VelocityTX$140,520$140,520
rene i dominguezCOO$92,630$92,630
jp negemCFO$70,746$70,746

Board Members and Trustees

NameTitle
J York Duncanpresident
James M Summersboard member
John F Lefloreboard member
Stephen M Dufilhoboard member
christopher clausboard member
james r dublinboard member
ken rectorboard member
larry millsboard member
andrea giuffridaTrustee
don frostTrustee
f nelson finch iiTrustee
h drake leddyTrustee
joe c mckinneyTrustee
john feikTrustee
john kerrTrustee
kenneth p trevettTrustee
nicolas musiTrustee
robert m cavenderTrustee
steve hallTrustee
steven leeTrustee
terrell mccombsTrustee
william l henrichTrustee
Randy HarigCEO
sylvia lopez gaonaexecutive VP of community dev
Revenue and Support

Revenue Composition

Contributions and Grants
$7,242,700
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$7,242,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B - PROCESS TO REVIEW THE FORM 990:

“An outside accounting firm prepares and files the organization's form 990. Management conducts a review of the draft and provides it to executive committee for review. The final draft is provided to the entire board for review and approval.”

Form 990, Part VI, Section B, Line 12C-monitoring the Conflict of Interest

“The policy is included in the employee policy manual and is applicable to the board of trustees. The executive committee, along with the president and ceo, monitors for compliance and reviews any potential or actual conflicts. Any member of the governing body that has a conflict of interest on a particular matter is required to abstain from voting on that matter.”

Form 990, Part VI, Section B, Line 15A - Review of Top Mgmt Compensation

“A thorough review is conducted and performed in conjuction with the annual bonuses awarded at year end by the board of trustees. The review is recorded in the meeting minutes. During 2018 the board commissioned a compensation study to determine the reasonableness of the ceo's compensation.”

FORM 990, PART VI, SECTION B, LINE 15B - COMPENSATION:

“Texas research and technology foundation does not provide compensation to any other officers.”

FORM 990, PART VI, SECTION C, LINE 19 - HOW DOCUMENTS ARE MADE AVAILABLE:

“The form 990, financial statements, and other documents will be provided upon request to the public.”

Filing and Contact Details

Filer

Filer Name
Friends of TRTF
EIN
84-4065430
In Care Of
% JP NEGEM
Phone
2108668073
Address
1305 E Houston St, San Antonio, TX 78205

Signing Officer

Name
Randy Harig
Title
CEO
Phone
2105912456
Signed
2020-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy Harig
Formed
2019
Legal Domicile
TX
Voting Board Members
22
Independent Board Members
21
Employees
0
Volunteers
21

Preparer

Firm
Bdo USA Llp
Address
9901 IH-10 Suite 500, San Antonio, TX 78230
Preparer
N Ari Berlin
Phone
2103428000
Supplemental Narrative

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

“The Foundation is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC); therefore, no provision for income taxes has been made in these statements. The Foundation follows the provisions of ASC 740-10 Accounting for Uncertainty in Income Taxes, which requires recognition and disclosure of uncertain tax positions in the financial statements. The Foundations management believes that is has appropriate support for any tax positions taken and that it has no material uncertain tax positions. Accordingly, it will not recognize any liability for uncertain tax benefits. For the year ended December 31, 2019, the Foundation did not recognize any interest or penalties in the financial statements. Tax years 2016-2018 remain open to examination by the taxing jurisdictions which the Foundation is subject to, and these periods have not been extended beyond the applicable statute of limitations.”

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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,242,700
Liabilities
$0
Net assets
$7,242,700
Revenue
$7,242,700
Expenses
$0
Net income
$7,242,700
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.60$0.01$7.60$0.07$0.01$0.07
2023Detailed filing. Detailed filing data is available for this year.$7.53$0.00$7.53$0.07$0.00$0.07
2022Detailed filing. Detailed filing data is available for this year.$7.46$0.00$7.46$0.07$0.00$0.07
2021Detailed filing. Detailed filing data is available for this year.$7.39$0.00$7.39$0.07$0.00$0.07
2020Detailed filing. Detailed filing data is available for this year.$7.32$0.00$7.32$0.07$0.00$0.07
2019Detailed filing. Detailed filing data is available for this year.$7.24$0.00$7.24$7.24$0.00$7.24