True Texas Education Corporation

Analysis

True Texas Education Corporation is a registered charity in United States, based in Grapevine, TX. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, True Texas Education Corporation reported income of $265k and spending of $167k, leaving 37% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income grew from $55k to $265k (+384%), an average of +384% a year. The sharpest change came in the year to September 2023, when income rose by 384%. Over the whole period it spent 56% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, True Texas Education Corporation sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($265k), Alabama Small Business Development Initiative ($265k) and Jain Center of Greater Boston ($265k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $60k (36% of expenses). Other salaries and wages came to $38k. At year end it held assets of $148k against liabilities of $2,370, net assets of $146k. It reported 7 employees.