Valley Educational Foundation Inc in Alvarado, Texas (TX)

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Valley Educational Foundation Inc
Employer Identification Number (EIN)751575876
Name of OrganizationValley Educational Foundation Inc
AddressPO BOX 800, Alvarado, TX 76009-0800
ActivitiesNursing or convalescent home, Association or convention of churches
SubsectionReligious Organization
Ruling Date01/1950
DeductibilityContributions are deductible
FoundationChurch
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$500,000 to $999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$593,876
Amount of Income$565,976
Form 990 Revenue Amount$449,791
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2013: $565,976
Valley Educational Foundation Inc: 

 $565,976
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2013: $593,876
Valley Educational Foundation Inc: 

 $593,876
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2012: $230,599
Valley Educational Foundation Inc: 

 $230,599
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2012: 2.5
This organization: 

 2.5
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2001: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2012: 2.8%
Valley Educational Foundation Inc: 

 2.8%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$265,683
Contributions, Gifts, Grants and Other Similar Amounts$7,313
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$45,440
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$212,930
Gross rents (Real / Personal)$399,622 / $0
Less: rental expenses (Real / Personal)$186,692 / $0
Rental income or (loss) (Real / Personal)$212,930 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$230,599
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$230,599
Balance Sheet (for 2012)
Total assets$574,981
Total liabilities$816,913
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$673,828
Other$143,085
Total net assets or fund balances$-241,932
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$693,115$465,026
Contributions, gifts, grants, and similar amounts received$0$0
Contributions to donor advised funds
Direct public support$0$0
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$196,978$185,432
Dividends and interest from securities$0$0
Net rental income or (loss)$496,137$435,501
Gross rents$496,137$435,501
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$-155,907
Gross amount from sales of assets other than inventory$0$317,748
Less: cost or other basis and sales expenses$0$473,655
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$0$0
Total expenses$712,266$708,987
Program services$712,266$708,987
Management and general$0$0
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$568,569$324,608
Excess or (deficit) for the year$-19,151$-243,961
Net assets or fund balances at beginning of year$587,720$568,569
Other changes in net assets or fund balances$0$0
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$708,987$708,987$0$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$31,920$31,920$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$209,987$209,987$0$0
Depreciation, depletion, etc.$122,860$122,860$0$0
Other expenses not covered above$344,220$344,220$0$0
Balance Sheets
20002001
Total assets$3,736,255$2,825,079
Cash - non-interest-bearing$75,379$36,504
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$16,200$14,307
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$1,997,851$1,793,387
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$1,646,825$980,881
Other assets, including program-related investments$0$0
Total liabilities$3,167,686$2,500,471
Accounts payable and accrued expenses$0$0
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$3,167,686$2,500,471
Other liabilities$0$0
Total liabilities and net assets/fund balances$3,736,255$2,825,079
Total net assets or fund balances$568,569$324,608
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$693,115$465,026
Total revenue, gains, and other support per audited financial statements$693,115$465,026
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$712,266$708,987
Total expenses and losses per audited financial statements$712,266$708,987
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$620,933
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$185,432
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$435,501
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Support Schedule
19992000
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Southwestern Medical Foundation3963 Maple Ave Ste 100, Dallas, TX 75219-3210TX1940-05$630,509,738
2University Of Texas Law School Foundation727 E Dean Keeton St, Austin, TX 78705-3224TX1958-10$172,703,198
3Texas A & M Research Foundation400 Harvey Mitchell Parkway South, College Station, TX 77845-4375TX1946-11$120,872,464
4Texas Tech Foundation IncPO BOX 41081, Lubbock, TX 79409-1081TX1950-06$58,451,108
5University Of Houston Foundation4543 Post Oak Place Dr Ste 250, Houston, TX 77027-3123TX1961-11$56,197,378
6Kinkaid School Endowment Fund Inc201 Kinkaid School Dr, Houston, TX 77024-7504TX1995-04$55,968,323
7Lamar University Foundation IncPO BOX 11500, Beaumont, TX 77710-1500TX1973-05$43,293,596
8Friends Of Imagine International Academy Of North Texas5100 W Eldorado Parkway Ste 102-589, Mckinney, TX 75070TX2009-09$7,669,453
9Round Top Library Association IncPO BOX 245, Round Top, TX 78954-0245TX1999-10$221,005
10Rockenbaugh Elementary School Parent Teacher Organization700 Chaucer Ct, Southlake, TX 76092-8926TX1999-02$120,008
11Sam Houston State University Lettermen AssociationPO BOX 1776, Huntsville, TX 77342-1776TX1999-10$3,855
12Associates Of Winedale1001 Fannin St Ste 2800, Houston, TX 77002-6710TX1999-02$0
13Dekaney Athletic Booster Club22351 Imperial Valley, Houston, TX 77073TX2008-04$0
14Emma Ousley Junior High Athletic Booster Club950 Southeast Parkway, Arlington, TX 76018TX2000-05$0
15Friends Of Kountze Public Library800 South Redwood, Kountze, TX 77657TX2001-01$0
16Gonzales Apache Band Boosters IncPo Box 513, Gonzales, TX 78629TX2009-11$0
17Livingstonlewis Inc2515 Calumet St Apt 4, Houston, TX 77004-7528TX2001-03$0
18Permian Golf Booster Club1800 E 42nd Street, Odessa, TX 79762TX1999-05$0
19Sweethearts Parents Club3505 Hayman Dr, Garland, TX 75043TX1999-02$0
20Van Alstyne High School Education Boosters Association1722 North Waco Street, Van Alstyne, TX 75495TX2000-08$0
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateLoma Linda UniversityPO BOX 2000, Loma Linda, CA 92354-0200CA1950-01$3,315,441,382
SubordinateAdventist Health System Sunbelt Inc900 Hope Way, Altamonte Spg, FL 32714-1502FL1950-01$3,232,259,164
SubordinateSeventh-Day Adventists Loma Linda University Medical Center IncPO BOX 2000, Loma Linda, CA 92354-0200CA1947-04$1,288,000,186
SubordinatePortercare Adventist Health System, Dba Parker Adventist Hospital3025 S Parker Road Suite 510, Aurora, CO 80014-2911CO1931-09$980,380,702
SubordinateAdventist Healthcare Inc, Adventist Behavioral Health Eastern820 W Diamond Ave Ste 600, Gaithersburg, MD 20878-1469MD1947-04$819,910,080
SubordinateKettering College2110 Leiter Rd, Miamisburg, OH 45342-3598OH1947-04$682,488,958
SubordinateAdventist Health System Sunbelt Healthcare Corporation900 Hope Way, Altamonte Spg, FL 32714-1502FL1947-04$535,227,154
SubordinateDayton Osteopathic Hospital, Dba Southview Medical Center2110 Leiter Rd, Miamisburg, OH 45342-3598OH1947-04$333,694,111
SubordinatePortland Adventist Medical Center10123 Se Market St, Portland, OR 97216-2532OR1947-04$317,892,351
SubordinateAdventist Health System-West, Adventist Health2100 Douglas Blvd, Roseville, CA 95661-3898CA1947-04$296,500,295
SubordinateMemorial Health Systems Inc, Florida Hospital Memorial Med Ctr770 W Granada Blvd Ste 101, Ormond Beach, FL 32174-5179FL1947-04$255,596,080
SubordinateSonora Community Hospital, Dba Sonora Regional Medical Center1000 Greenley Rd, Sonora, CA 95370-5200CA1947-04$210,628,521
SubordinateFlorida Hospital Waterman Inc1000 Waterman Way, Tavares, FL 32778-5266FL1992-07$204,408,195
SubordinateSt Helena Hospital10 Woodland Rd, Saint Helena, CA 94574-9554CA1947-04$195,787,857
SubordinateFeather River Hospital5974 Pentz Rd, Paradise, CA 95969-5509CA1993-07$184,528,992
SubordinateMemorial Hospital Flagler Inc, Florida Hospital-Flagler770 W Granada Blvd Ste 101, Ormond Beach, FL 32174-5179FL1947-04$164,824,429
SubordinateSouthwest Volusia Healthcare Corporation, Florida Hospital Fish Memorial1055 Saxon Blvd, Orange City, FL 32763-8468FL1950-01$130,165,075
SubordinateHackettstown Community Hospital, Hackettstown Regional Medical Ctr651 Willow Grove St, Hackettstown, NJ 07840-1799NJ1950-01$128,807,563
SubordinateMemorial Hospital-West Volusia Inc, Florida Hospital Deland701 W Plymouth Ave, Deland, FL 32720-3236FL1947-04$123,138,698
SubordinateUkiah Adventist Hospital, Ukiah Valley Medical Ctr275 Hospital Dr, Ukiah, CA 95482-4531CA1947-04$117,655,223
Number of affiliated organizations
Alaska6
Alabama13
Arkansas12
Arizona18
California170
Colorado27
Connecticut13
District of Columbia2
Delaware2
Florida103
Georgia36
Hawaii11
Iowa8
Idaho21
Illinois25
Indiana19
Kansas15
Kentucky17
Louisiana10
Massachusetts20
Maryland56
Maine7
Michigan53
Minnesota15
Missouri15
Mississippi8
Montana16
North Carolina31
North Dakota4
Nebraska11
New Hampshire5
New Jersey15
New Mexico5
Nevada7
New York51
Ohio27
Oklahoma11
Oregon47
Pennsylvania22
Rhode Island3
South Carolina12
South Dakota3
Tennessee39
Texas56
Utah7
Virginia23
Vermont6
Washington50
Wisconsin14
West Virginia9
Wyoming2
International3
Total1,181

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