Ed Rachal Foundation
- Assets
- $503.1m
- Revenue
- $47.9m
- Investments
- $251.9m
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 03/1997
- Data as of
- 08/2020
- EIN
- 74-1116595
Organization Overview
Ed Rachal Foundation is located in Corpus Christi, TX. The organization was established in 1997. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 08/2020, Ed Rachal Foundation generated $47.9m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $35.6m during the year ending 08/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN DEVELOPING A RETREAT CENTER FOR QUALIFYING CIVIC COMMUNITY AND NOT-FOR-PROFIT ORGANIZATIONS. USED FOR APPROXIMATELY 6,900 PEOPLE DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Altheide President/ce | 40 | $504,969 | |
Myra K Morris Chief Legal | 40 | $305,769 | |
John P Jordan Vice Preside | 40 | $193,173 | |
Michael Hill Comptroller | 40 | $158,559 | |
Taylor Hunt Sr. Project | 40 | $130,689 | |
Dave Tupaj Property Man | 40 | $102,280 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pro-equity | 8/30/20 | $269,214 |
Turner Ramirez Architects | 8/30/20 | $192,937 |
Edi Architecture | 8/30/20 | $194,029 |
Encompass Litigation Services | 8/30/20 | $130,000 |
Lloyd Engineering | 8/30/20 | $105,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,503 |
| Interest on Savings | $30,150 |
| Dividends & Interest | $6,718,097 |
| Net Rental Income | $7,138,962 |
| Net Gain on Sale of Assets | $258,154 |
| Capital Gain Net Income | $258,154 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,891,839 |
| Total Revenue | $47,927,944 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,282,797 |
| Other employee salaries and wages | $909,924 |
| Pension plans, employee benefits | $384,779 |
| Interest | $0 |
| Taxes | $4,720,497 |
| Depreciation | $1,916,359 |
| Occupancy | $294,465 |
| Travel, conferences, and meetings | $63,393 |
| Printing and publications | $14,915 |
| Other expenses | $7,012,764 |
| Total operating and administrative expenses | $17,775,979 |
| Contributions, gifts, grants paid | $17,823,048 |
| Total expenses and disbursements | $35,599,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,290,606 |
| Savings and temporary cash investments | $32,945,404 |
| Net Accounts receivable | $9,718,423 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $391,979 |
| Net Investments - land, buildings, equipment | $163,831,933 |
| Investments—mortgage loans | $0 |
| Investments—other | $204,907,436 |
| Net Land, buildings, and equipment | $42,866,555 |
| Other assets | $121,491 |
| Total assets | $503,109,232 |
| Accounts payable and accrued expenses | $4,742,826 |
| Grants payable | $0 |
| Deferred revenue | $292,854 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,143,666 |
| Total liabilities | $7,179,346 |
Grants Awarded
Over the last fiscal year, Ed Rachal Foundation has awarded $11,544,365 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE STATEMENT 25 PURPOSE: SEE STMT | $10,544,365 |
NUECES COUNTY TEXAS PURPOSE: PURCHASE OF LAND | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ed Rachal Foundation has recieved totaling $29,472.
| Awarding Organization | Amount |
|---|---|
Friends Of Corpus Christi Public Libraries Corpus Christi, TX PURPOSE: TO HELP FUND THE PLANETARIUM AND CHILDRENS PROGRAMMING IN THE CORPUS CHRISTI AREA | $29,472 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Rachal Foundation Corpus Christi, TX | $503,109,232 | $47,927,944 |
Emmaus Calling Inc Lakeway, TX | $85,819,941 | $17,114,382 |
Evelyn Rubenstein Jewish Community Center Of Houston Texas Houston, TX | $39,703,149 | $34,578,117 |
Glory Of Zion International Ministries Inc Denton, TX | $14,681,565 | $16,820,826 |
Multi-Faith Retirement Services Live Oak Retirement Center Shreveport, LA | $15,168,762 | $12,817,982 |
Southern Oklahoma Memorial Foundation Inc Ardmore, OK | $98,158,493 | $5,357,476 |
El Paso Center For Children Inc El Paso, TX | $2,303,297 | $5,714,814 |
Adult & Teen Challenge Of Texas San Antonio, TX | $7,696,953 | $3,493,230 |
Tejas Ministries Inc Giddings, TX | $3,845,216 | $3,347,828 |
Ecumenical Center For Religion And Health San Antonio, TX | $5,493,022 | $3,326,327 |
If Gathering Dallas, TX | $2,200,475 | $3,424,283 |
Project Vida El Paso, TX | $3,624,188 | $2,990,708 |