Greater Texas Services Inc
- Assets
- $46.7m
- Revenue
- $1.6m
- Investments
- $1.7m
- Employees
- 0
- Location
- Bryan, TX
- Founding
- 08/2005
- Data as of
- 12/2020
- EIN
- 74-2471210
Organization Overview
Greater Texas Services Inc is located in Bryan, TX. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Texas Services Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Greater Texas Services Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $981.3k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
GREATER TEXAS SERVICES' MISSION IS TO ENGAGE IN EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF STUDENTS IN THE STATE OF TEXAS AND PROVIDE FUNDING TO ANY STUDENT THROUGH LOANS, SCHOLARSHIPS AND OTHER MEANS.
Describe the Organization's Program Activity:
GREATER TEXAS SERVICES SUPPPORTS THE FINANCING OF EDUCATION BY PARTICIPATING IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM AS A DOWNSTREAM HOLDER OF STUDENT LOANS. THE TOTAL PORTFOLIO AS OF DECEMBER 31, 2020 WAS APPROXIMATELY $37,006,000. GTS PLANS TO HOLD THESE LOANS THROUGH THE BORROWERS' REPAYMENT CYCLE.
GTS AWARDS SCHOLARSHIPS TO HIGH SCHOOL GRADUATES SEEKING HIGHER EDUCATION. THROUGH ITS SCHOLARSHIP PROGRAMS IN 2020 GTS DISTRIBUTED A NET OF $9,500 TO EDUCATIONAL ORGANIZATIONS TO PROVIDE SCHOLARSHIPS FOR APPROXIMATELY 17 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Terry Jones President | OfficerTrustee | 1 | $4,000 |
Mr Ad James Jr Vice President | OfficerTrustee | 1 | $0 |
Mrs Judy Holt Secretary | OfficerTrustee | 1 | $0 |
Sue Mcmillin Asst Vice Pres | Officer | 1 | $0 |
Mr Ralph B Rushing Director | Trustee | 1 | $0 |
Mr Bill Youngkin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $136,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $161,101 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,581,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,000 |
| Compensation to disqualified persons | $16,034 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,667 |
| Fees for services: Accounting | $55,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,070 |
| Fees for services: Other | $325,495 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,578 |
| Interest | $500,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,649 |
| All other expenses | $0 |
| Total functional expenses | $981,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,950 |
| Savings and temporary cash investments | $1,368,510 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,069 |
| Investments—publicly traded securities | $6,561,189 |
| Investments—other securities | $1,683,833 |
| Investments—program-related | $37,006,272 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,660,823 |
| Accounts payable and accrued expenses | $130,140 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,053,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,183,474 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $26,477,349 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |