Transit System Inc
- Assets
- $2.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Glen Rose, TX
- Founding
- 11/1993
- Data as of
- 08/2022
- EIN
- 75-1871831
Organization Overview
Transit System Inc is located in Glen Rose, TX. The organization was established in 1993. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 08/2022, Transit System Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Transit System 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 08/2022, Transit System Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.3m during the year ending 08/2022. While expenses have increased by 3.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRANSPORTATION TO RURAL AREAS OF SOMERVELL AND HOOD COUNTIES IN TEXAS, ENHANCING ACCESS OF PERSONS TO HEALTH CARE, EMPLOYMENT AND PUBLIC SERVICES.
Describe the Organization's Program Activity:
TRANSPORTATION TO RURAL AREAS OF SOMERVELL AND HOOD COUNTIES IN TEXAS, ENHANCING ACCESS OF PERSONS TO HEALTH CARE, EMPLOYMENT AND PUBLIC SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Foster Chairman | OfficerTrustee | 2 | $0 |
Jeanelle Tuuk Parlimentari | OfficerTrustee | 2 | $0 |
Dennis Moore Secretary | OfficerTrustee | 2 | $0 |
Chris Coffman Vice Chairma | OfficerTrustee | 2 | $0 |
Danny Chambers Director | Trustee | 2 | $0 |
Ron Massingill Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,322,619 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $12,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,322,619 |
| Total Program Service Revenue | $195,023 |
| Investment income | $1,385 |
| 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 | $1,527,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $63,264 |
| Compensation of current officers, directors, key employees. | $63,264 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $489,605 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $112,458 |
| Payroll taxes | $43,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,655 |
| Advertising and promotion | $6,598 |
| Office expenses | $9,603 |
| Information technology | $41,201 |
| Royalties | $0 |
| Occupancy | $17,198 |
| Travel | $4,254 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $221,035 |
| Insurance | $73,431 |
| All other expenses | $5,348 |
| Total functional expenses | $1,326,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $961,431 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $207,414 |
| Accounts receivable, net | $9,621 |
| 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 | $31,285 |
| Net Land, buildings, and equipment | $1,370,231 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,500 |
| Total assets | $2,588,482 |
| Accounts payable and accrued expenses | $64,064 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $64,064 |
| Net assets without donor restrictions | $2,524,418 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,588,482 |
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