2024-11-13T05:20:33-05:00 2023-12-31 990 2023-01-01 873652885 Texas Alternatives Foundation % Jarett Rodriguez TEXA 5124022777 6101 W Courtyard Dr St 2 225 Austin TX 78730 Jarett Rodriguez CEO 2024-11-13 2023 2024-10-15 13:58:12Z X Jarett Rodriguez 6101 W Courtyard Dr St 2 225 Austin TX 78730 433381 false X www.texasalternativesfoundation.org X 2021 TX TAF accepts and liquidates illiquid assets such as closely held business interests and private equity interests to provide funds to educational research scholarship and arts organizations in alignment with our charitable mission. 9 9 1 45 0 0 0 433381 0 0 0 0 0 0 0 433381 0 0 0 0 0 207002 0 0 0 0 18473 0 225475 0 207906 8957 7391 214608 5136 -205651 2255 Texas Alternatives Foundations mission is to support transformative education research and the arts by accepting managing and liquidating donations of illiquid assets such as private equity venture capital and closely held business interests. false false 140240 0 0 Supporting Educational Institutions: The foundation focused on helping Texas-based higher education institutions by educating development officers on the benefits of alternative assets used in philanthropy. 0 0 0 0 0 0 0 0 0 140240 true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true false false false true false true false false false false false false false false false false false true 1 0 1 true false false false false false false false 0 false false false false false 9 9 false false false false false false false true true false false true true true true true true true true false X Jarett Rodriguez 5124022777 6101 W Courtyard Dr St 2 225 Austin TX 78730 X Philip Sanger Chairman and President 5.00 0.00 X X 0 0 0 Rudy Garza Treasurer 2.00 0.00 X X 0 0 0 Cale McDowell Secretary 2.00 0.00 X X 0 0 0 Scott Holstead Director 2.00 0.00 X 0 0 0 Brent Iverson Director 2.00 0.00 X 0 0 0 Kerry Hall Director 2.00 0.00 X 0 0 0 Jason Downie Director 2.00 0.00 X 0 0 0 Jeff Nash Director 1.00 0.00 X 0 0 0 Pete Winstead Director 1.00 0.00 X 0 0 0 Jarett Rodriguez Executive Director 40.00 0.00 X X 204564 0 0 204564 0 0 1 false true false 1 0 0 0 0 0 433381 0 433381 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 433381 0 0 0 0 0 0 0 0 0 0 0 204564 122738 81826 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2438 0 2438 0 0 0 0 0 0 0 0 0 971 0 971 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2266 2266 0 0 979 979 0 0 0 0 0 0 0 0 0 0 0 0 0 0 753 753 0 0 0 0 0 0 0 0 0 0 13455 13455 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 49 49 0 0 225475 140240 85235 0 0 0 0 0 8957 7391 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8957 7391 0 0 0 0 0 0 0 0 0 0 214608 0 0 0 0 0 0 5136 214608 5136 X 0 0 0 0 -205651 2255 -205651 2255 8957 7391 207906 0 0 0 0 0 X false false X 0 0 0 0 433381 433381 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 433381 433381 424714 8667 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 433381 X Part II Line 1 In 2023 the Texas Alternatives Foundation received a one-time contribution through the forgiveness of a line of credit from Philip Sanger a founding board member. The total value of the debt forgiveness was $433,381.24. Philip Sangers forgiveness of the loan did not result in any control authority or influence over the ongoing management or governance of the foundation beyond his existing role as a board member. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Federal Taxes 941 943 944 5136 5136 X X X false false false false false false false true false Jarett Rodriguez Executive Director 194564 0 10000 0 0 0 0 0 0 0 204564 0 0 0 Part I | PartandLinenumber:,Explanation:|Part I Line 7,Part I Line 7 - The Executive Director received an annual bonus based on his effectively managing the foundation's operations and advancing the Texas Alternatives Foundation's relationships with educational institutions.| Part I & Part II | PartandLinenumber:,Explanation:| Part I Line 3,TAF determined Rodriguezs compensation by considering his extensive experience the scope of his responsibilities and prevailing compensation trends for similar roles in the region. Salary was discussed by the Executive Committee and all voted in favor.| Philip Sanger Director operations X 433381 0 false true true 0 Jarett Rodriguez Executive Director 172688 Rodriguez was paid to serve as the Executive Director through his single-member LLC prior to becoming W2 employee false Item B - Amended Return Texas Alternatives Foundation filed 990N due to no donations in 2023. However in review we later realized that the loan forgiveness given to the foundation should have triggered the necessity to submit our first full 990 filing. Part VI, Line 12c Board members were regularly reminded of our conflict of interests policy and asked to acknowledge any conflicts prior to or during meetings. Part VI, Line 15 Independent Review and Approval: TAF has a documented policy that ensures an objective and independent review of the CEOs compensation. This policy mandates that the compensation is evaluated and approved by the Executive Committee thereby maintaining impartiality in the decision-making process. Use of Comparability Data: To establish a fair and competitive compensation package TAF benchmarks the CEOs salary against comparable organizations. This involves analyzing compensation data from similar nonprofit entities to ensure that the CEOs remuneration aligns with industry standards and reflects the organizations financial capacity and performance. Contemporaneous Documentation: TAF maintains thorough records of the deliberations and decisions regarding the CEOs compensation. This includes detailed minutes of meetings where compensation matters are discussed the data reviewed and the rationale behind the final decisions. Such documentation ensures transparency and accountability. Part VI Line 11 | Explanation:| Description of Process for Reviewing Form 990 a. Preparation by Officers: The Form 990 is prepared by the organizations officers. b. Board Review: One the Form 990 is prepared it is distributed to the executive committee of the board of directors for their review. They are given the opportunity to examine the document ask questions and provide feedback. c. Approval: After the board has had opportunity to ask questions or voice concerns they provide final approval. d. Filing: After board approval Form 990 is signed and filed by the designated officer of the foundation.