Cen-Tex Certified Development Corporation
- Assets
- $31.2m
- Revenue
- $7.0m
- Investments
- $329.8k
- Employees
- 18
- Location
- Austin, TX
- Founding
- 07/1992
- Data as of
- 06/2022
- EIN
- 74-2581297
Organization Overview
Cen-Tex Certified Development Corporation is located in Austin, TX. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Cen-Tex Certified Development Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cen-Tex Certified Development Corporation 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 06/2022, Cen-Tex Certified Development Corporation generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $3.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST AND PROMOTE THE GROWTH AND DEVELOPMENT OF SMALL BUSINESSES IN TEXAS AND TO FACILITATE HOUSING INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS LENDING - THE ORGANIZATION PROCESSES AND SERVICES SBA LOANS FOR SMALL BUSINESSES THAT DO NOT QUALIFY FOR CONVENTIONAL FINANCING. LOANS ARE MADE TO SMALL BUSINESSES FROM GRANT FUNDS AND CONTRIBUTIONS FROM VARIOUS BUSINESSES AND LOCAL GOVERNMENTS AS WELL AS INTEREST EARNINGS AND PRINCIPAL RETURNED TO THE LOAN FUND POOL. DURING FISCAL YEAR 2022, THE ORGANIZATION DISBURSED OVER $5 MILLION IN LOANS.
COMMUNITY DEVELOPMENT - THE ORGANIZATION COUNSELED OVER 1,000 FAMILIES ON HOME FORECLOSURE AND MITIGATION, AND OVER 800 BUSINESSES WITH MANAGEMENT COUNSELING, BUSINESS MARKETING, GROWTH STRATEGIES, AND GENERAL BUSINESS START UP AND DEVELOPMENT.
HOUSING AND HOME OWNERSHIP - THE ORGANIZATION HELPS FAMILIES SECURE A HOME OF THEIR OWN AND BUILD THEIR ASSETS. THE ORGANIZATION'S SPECIALISTS WORK TO BUILD A CUSTOMIZED PLAN WITH CLIENTS TO HELP THEM ACHIEVE THEIR GOALS AT THEIR OWN PACE.
ENTREPRENEURSHIP - THE ORGANIZATION USES ITS KNOWLEDGE AND EXPERIENCE TO HELP SMALL BUSINESSES MEET THEIR GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosa Rios Valdez Chief Executive Officer | Officer | 40 | $182,000 |
Stacy Bowers Secretary | Trustee | 1 | $0 |
David Brennan Director | Trustee | 1 | $0 |
Larry Dovalina Director | Trustee | 1 | $0 |
Andres Garza Vice Chair | Trustee | 1 | $0 |
David Salinas Chair | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,606,265 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,121,912 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,728,177 |
| Total Program Service Revenue | $1,195,719 |
| Investment income | $30,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,954,395 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $957,925 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $196,063 |
| Compensation of current officers, directors, key employees. | $42,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $638,313 |
| Pension plan accruals and contributions | $42,575 |
| Other employee benefits | $83,827 |
| Payroll taxes | $63,809 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $337,402 |
| Advertising and promotion | $27,949 |
| Office expenses | $89,145 |
| Information technology | $55,888 |
| Royalties | $0 |
| Occupancy | $364,655 |
| Travel | $14,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $339,131 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,727 |
| Insurance | $31,790 |
| All other expenses | $0 |
| Total functional expenses | $3,764,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,607,152 |
| Savings and temporary cash investments | $14,813,399 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,604,417 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,450 |
| Net Land, buildings, and equipment | $161,724 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $329,829 |
| Investments—program-related | $5,057,278 |
| Intangible assets | $21,686 |
| Other assets | $2,502,082 |
| Total assets | $31,238,408 |
| Accounts payable and accrued expenses | $132,426 |
| 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 | $2,595,495 |
| Unsecured mortgages and notes payable | $12,733,900 |
| Other liabilities | $71,102 |
| Total liabilities | $15,532,923 |
| Net assets without donor restrictions | $15,204,490 |
| Net assets with donor restrictions | $500,995 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $31,238,408 |
Grants Awarded
Over the last fiscal year, Cen-Tex Certified Development Corporation has awarded $605,400 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Fort Wayne, IN PURPOSE: COMMUNITY LENDING | $393,600 |
Lafayette, IN PURPOSE: COMMUNITY LENDING | $196,800 |
Austin, TX PURPOSE: COMMUNITY LENDING | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Cen-Tex Certified Development Corporation has recieved totaling $296,786.
| Awarding Organization | Amount |
|---|---|
Opportunity Finance Network Philadelphia, PA PURPOSE: FINANCE JUSTICE FUND SUBGRANT | $250,000 |
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $35,000 |
Cba Fund Washington, DC PURPOSE: SMALL DOLLAR LENDING | $11,786 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |