Texas One Fund Inc

Analysis

Texas One Fund Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Texas One Fund Inc reported income of $10.5m and spending of $13.7m, spending 131% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $5.3m to $10.5m (+97%), an average of +97% a year. The sharpest change came in the year to December 2023, when income rose by 97%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Texas One Fund Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Materials Research Society ($10.5m), Potters House Community Development ($10.5m) and Goodwill Industries of South Mississippi Inc ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.7% of the total. Other salaries and wages came to $138k. It paid $622k in professional fundraising fees. At year end it held assets of $1.5m against liabilities of $3,771, net assets of $1.5m. It reported 1 employees.