Herzstein Investments Inc
- Assets
- $73.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 01/2002
- Data as of
- 12/2023
- EIN
- 76-0694434
Organization Overview
Herzstein Investments Inc is located in Houston, TX. The organization was established in 2002. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herzstein Investments Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2023, Herzstein Investments Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION HOLDS TITLE TO REAL PROPERTY, COLLECTS INCOME THERE FROM AND TURNS OVER ALL SUCH INCOME (LESS EXPENSES) TO AN AFFILIATED 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Michael Hajtman President (1/1/23 - 8/4/23) | OfficerTrustee | 17.5 | $149,992 |
George W Strake III Secretary/treasurer (8/23/23 - 12/31/23) | OfficerTrustee | 1 | $4,167 |
Justina Renee Masaryk President (8/23/23 - 12/31/23) | OfficerTrustee | 5 | $56,917 |
Richard Loewenstern Director (1/1/23 - 8/23/23) | Trustee | 1 | $5,833 |
Craig Loewenstern Chairman (8/23/23 - 12/31/23) | OfficerTrustee | 1 | $4,167 |
Bryan Miller Vice President (8/23/23 - 12/31/23) | OfficerTrustee | 1 | $4,167 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $49,193 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,204,966 |
| 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 | $4,254,159 |
| 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. | $192,171 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $548,526 |
| Pension plan accruals and contributions | $83,673 |
| Other employee benefits | $35,982 |
| Payroll taxes | $35,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $57,427 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,079 |
| Advertising and promotion | $0 |
| Office expenses | $2,175 |
| Information technology | $1,689 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,557 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,254,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,239 |
| Savings and temporary cash investments | $953,709 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $379,848 |
| 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 | $4,159 |
| Net Land, buildings, and equipment | $36,362,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,810,347 |
| Total assets | $73,675,396 |
| Accounts payable and accrued expenses | $836,014 |
| 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 | $1,214,555 |
| Total liabilities | $2,050,569 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $71,623,827 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $73,675,396 |