TY 2021 Form 990PF

Part I	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books	(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)
	1	Contributions, gifts, grants, etc., received (attach schedule)	44,669
2	Check .............
3	Interest on savings and temporary cash investments	25,425
4	Dividends and interest from securities...	6,165,328	6,165,328
5a	Gross rents............	10,668,723	10,668,723
b	Net rental income or (loss) 4,644,596
6a	Net gain or (loss) from sale of assets not on line 10		1,284,871
b	Gross sales price for all assets on line 6a 34,425,610
7	Capital gain net income (from Part IV, line 2)...		1,284,871
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		88,575,099	88,575,099
12	Total. Add lines 1 through 11........	106,764,115	106,694,021
	13	Compensation of officers, directors, trustees, etc.	1,143,503	608,427		535,077
14	Other employee salaries and wages......	1,257,230	716,621		540,609
15	Pension plans, employee benefits.......	443,963	256,281		187,682
16a	Legal fees (attach schedule).........		292,715	261,559		31,156
b	Accounting fees (attach schedule).......		27,612	13,806		13,806
c	Other professional fees (attach schedule)....		717,805	357,923		359,882
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		4,332,092	4,332,092
19	Depreciation (attach schedule) and depletion...		2,949,169	2,949,169
20	Occupancy..............	398,454	139,745		258,709
21	Travel, conferences, and meetings.......	86,724	74,827		11,897
22	Printing and publications..........	10,208	5,104		5,104
23	Other expenses (attach schedule).......		9,806,971	8,518,280		1,288,692
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	21,466,446	18,233,834		3,232,614
25	Contributions, gifts, grants paid.......	18,087,550			18,087,550
26	Total expenses and disbursements. Add lines 24 and 25	39,553,996	18,233,834		21,320,164
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	67,210,119
b	Net investment income (if negative, enter -0-)		88,460,187
c	Adjusted net income (if negative, enter -0-)...

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	3,224,784	2,954,827	2,954,827
	2	Savings and temporary cash investments.........	33,672,679	20,717,977	20,717,977
	3	Accounts receivable 20,155,521
		Less: allowance for doubtful accounts	9,071,248	20,155,521	20,155,521
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	5,466,942	2,739,348	2,739,348
	10a	Investments—U.S. and state government obligations (attach schedule)	64,627,037	71,969,817	71,969,817
	b	Investments—corporate stock (attach schedule).......	2,304,536	2,780,866	2,780,866
	c	Investments—corporate bonds (attach schedule).......	1,401,784	1,535,783	1,535,783
	11	Investments—land, buildings, and equipment: basis 261,909,216
		Less: accumulated depreciation (attach schedule) 11,604,507	182,150,942	250,304,709	250,304,709
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	174,926,091	169,026,851	169,026,851
	14	Land, buildings, and equipment: basis 103,337,511
		Less: accumulated depreciation (attach schedule)	48,977,459	103,337,511	103,337,511
	15	Other assets (describe )	122,220	566,561	566,561
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	525,945,722	646,089,771	646,089,771
	17	Accounts payable and accrued expenses..........	6,292,005	7,217,998
	18	Grants payable.................
	19	Deferred revenue.................	227,131	631,486
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	8,534,739	2,475,862
	23	Total liabilities (add lines 17 through 22).........	15,053,875	10,325,346
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	510,891,847	635,764,425
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	510,891,847	635,764,425
	30	Total liabilities and net assets/fund balances (see instructions).	525,945,722	646,089,771

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

510,891,847

Enter amount from Part I, line 27a .....................

67,210,119

Other increases not included in line 2 (itemize) bullet

72,498,798

Add lines 1, 2, and 3 ..........................

650,600,764

Decreases not included in line 2 (itemize) bullet

14,836,339

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

635,764,425

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1a
b
c
d
e

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,284,871
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	1,229,597
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,229,597
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	1,099,820
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	1,099,820
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	129,777
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax	Refunded	11

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
DAVID L HOYER	BOARD CHAIRM 5.00	64,000	0	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401
KEN W TRAWICK	VICE BOARD C 5.00	64,000	0	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401
JOHN J JOHNSON	SEC /TREASUR 5.00	64,000	0	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401
KEN L KELLAR	DIRECTOR 5.00	0	0	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401
JOSHUA T GAINES	DIRECTOR 5.00	14,000	0	0
555 N CARANCAHUA STSTE 700 CORPUS CHRISTI,TX78401
DAVID J MORALES	DIRECTOR 5.00	14,000	0	0
555 N CARANCAHUA ST STE 700 CORPUS CHRISTI,TX78401
PAUL D ALTHEIDE	PRESIDENT/CE 50.00	593,616	21,065	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401
MYRA K MORRIS	CHIEF LEGAL 40.00	329,887	13,718	0
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
MICHAEL HILL	COMPTROLLER 40.00	187,548	30,652
555 N CARANCAHUA ST STE 700 CORPUS CHRISTI,TX78418	COMPTROLLER 40.00	187,548	30,652
TAYLOR HUNT	SR. PROJECT 40.00	141,990	30,583
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401	SR. PROJECT 40.00	141,990	30,583
DAVID ROBERTS	SR. ARCHITEC 40.00	154,769	900
555 N CARANCAHUA ST STE700 CORPUS CHRISTI,TX78401	SR. ARCHITEC 40.00	154,769	900
BETTIE BILLINGS	ASST. COMPTR 40.00	117,880	30,364
555 N CARANCAHUA ST SUITE 700 CORPUS CHRISTI,TX78401	ASST. COMPTR 40.00	117,880	30,364
JOHN CREEDON	COST ANALYST 40.00	122,774	23,143
555 N CARANCAHUA ST STE 700 CORPUS CHRISTI,TX78401	COST ANALYST 40.00	122,774	23,143
Total number of other employees paid over $50,000...................				5


SAVILLS INC	BROKER	727,335
5505 N CYMBERLAND AVE STE 307 CHICAGO,IL60656
CAROL BAILEY ATTORNEY AT LAW	ATTORNEY	120,405
700 EVERHART RD STE B-2 CORPUS CHRISTI,TX78411
JOHN WALLACE REAL ESTATE LLC	CONSULTANT	120,000
12 CAMDEN PLACE CORPUS CHRISTI,TX78412
REPUBLIC RANCHES	BROKER	80,000
453 ROBERT DRIVE CORPUS CHRISTI,TX78412
EDR ARCHITECTS	ARCHITECT	68,170
PO BOX 271613 CORPUS CHRISTI,TX78427

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	SEE STATEMENT 24
2


All other program-related investments. See instructions.
3

		(a) Corpus	(d) 2021
1 Distributable amount for 2021 from Part X, line 7			21,832,795
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2021:
a From 2016......	3,967,490
b From 2017......	3,795,552
c From 2018......	1,807,835
d From 2019......	3,568,324
e From 2020......
f Total of lines 3a through e ........		13,139,201
4Qualifying distributions for 2021 from Part
XI, line 4: $ 21,320,164
a Applied to 2020, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2021 distributable amount.....			21,320,164
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2021.		512,631	512,631
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		12,626,570
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...		3,454,859
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		9,171,711
10 Analysis of line 9:
a Excess from 2017....	3,795,552
b Excess from 2018....	1,807,835
c Excess from 2019....	3,568,324
d Excess from 2020....
e Excess from 2021....

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

PAUL D ALTHEIDE
555 N CARANCAHUA SUITE 700
CORPUS CHRISTI,TX78401
(361) 881-9040

bThe form in which applications should be submitted and information and materials they should include:

SEE FOUNDATION WEBSITE: WWW.EDRACHAL.ORG FOR GUIDELINES AND APPLICATION. AVAILABLE UPON REQUEST.

cAny submission deadlines:

NO SUBMISSION DEADLINES.

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

GRANTS LIMITED GEOGRAPHICALLY TO THE STATE OF TEXAS.

3 Grants and Contributions Paid During the Year or Approved for Future Payment
aPaid during the year
SEE STATEMENT 25 555 N CARANCAHUA STREET SUITE 700 CORPUS CHRISTI,TX78401		VARIOUS	NFP PROGRAMS	18,087,550
Total ................................. 3a	18,087,550

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements
1a(1)	374,168	ERF REAL ESTATE INC EIN 20-2661759	CASH TRANSFERS FOR REAL PROPERTY IMPROVEMENTS
1a(2)	29,187,414	ERF REAL ESTATE INC EIN 20-2661759	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1a(2)	481,551	ERF PORT ARANSAS INC EIN 46-4468454	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1a(2)	2,905,776	ERF TOWER II INC EIN 47-4191656	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1a(2)	7,504,346	802 NC INC EIN 83-0802751	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1a(2)	2,971,410	ERF WEST SIDE INC EIN 85-1914948	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1a(2)	7,681,855	ERF PALACIOS EIN 86-3879335	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY CONTRIBUTIONS
1a(2)	12,947,784	ERF VAL VERDE INC EIN 88-1331102	CAPITAL CONTRIBUTIONS MADE FOR REAL PROPERTY IMPROVEMENTS
1b(3)	188,004	ERF TOWER II INC EIN 47-4191656	LEASED OFFICE SPACE FROM 501(C)(2) TITLE HOLDING COMPANY

(a) Name of organization	(b) Type of organization	(c) Description of relationship
ERF REAL ESTATE INC EIN 20-2661759	501(C)(2)	SEE GENERAL FOOTNOTE
ERF PORT ARANSAS INC EIN 46-4468454	501(C)(2)	SEE GENERAL FOOTNOTE
ERF TOWER II INC EIN 47-4191656	501(C)(2)	SEE GENERAL FOOTNOTE
802 NC INC EIN 83-0802751	501(C)(2)	SEE GENERAL FOOTNOTE
ERF WEST SIDE INC EIN 85-1914948	501(C)(2)	SEE GENERAL FOOTNOTE
ERF VAL VERDE INC EIN 88-1331102	501(C)(2)	SEE GENERAL FOOTNOTE
ERF PALACIOS INC EIN 86-3879335	501(C)(2)	SEE GENERAL FOOTNOTE
ERF LAMAR INC EIN 85-1494970	501(C)(2)	SEE GENERAL FOOTNOTE

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	25,425
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	4,644,596
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			14	1,284,871
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aMISCELLANEOUS INCOME			1	554,395
bEASEMENTS & ROW			1	102,402
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				100,695,319

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Name of organization ED RACHAL FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	COASTAL BEND COMMUNITY FOUNDATION 555 N CARANCAHUA STE 900 CORPUS CHRISTI, TX78401	$ 6,649	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	SHANNON MARY LOU GEORGE 1118 S STAPLES CORPUS CHRISTI, TX78404	$ 20,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	JOE FRAZER 333 BERMUNDA CORPUS CHRISTI, TX78411	$ 10,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Name of organization ED RACHAL FOUNDATION		Employer identification number 74-1116595

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
2	FURNITURE	$ 20,000	2022-01-01
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
3	FURNITURE	$ 10,000	2021-01-01
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2021)

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included
DEPRECIATION			6,481,737	STRAIGHT LINE		2,424,727	2,424,727
AMORTIZATION			658,704	AMORTIZATION		524,442	524,442

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
SAVILLS INC	BROKER	727,335
5505 N CYMBERLAND AVE STE 307 CHICAGO,IL60656	BROKER	727,335
CAROL BAILEY ATTORNEY AT LAW	ATTORNEY	120,405
700 EVERHART RD STE B-2 CORPUS CHRISTI,TX78411	ATTORNEY	120,405
JOHN WALLACE REAL ESTATE LLC	CONSULTANT	120,000
12 CAMDEN PLACE CORPUS CHRISTI,TX78412	CONSULTANT	120,000
REPUBLIC RANCHES	BROKER	80,000
453 ROBERT DRIVE CORPUS CHRISTI,TX78412	BROKER	80,000
EDR ARCHITECTS	ARCHITECT	68,170
PO BOX 271613 CORPUS CHRISTI,TX78427	ARCHITECT	68,170

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEE STATEMENT 25 555 N CARANCAHUA STREET SUITE 700 CORPUS CHRISTI,TX78401		VARIOUS	NFP PROGRAMS	18,087,550
Total ................................. 3a				18,087,550

bApproved for future payment

Total ................................. 3b


Name of organization ED RACHAL FOUNDATION			Employer identification number 74-1116595
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Name	Date Acquired	How Acquired	Date Sold	Purchaser Name	Gross Sales Price	Basis	Basis Method	Sales Expenses	Total (net)	Accumulated Depreciation
VARIOUS STOCK SALES		PURCHASE			27,826,485	27,790,096			36,389
VARIOUS ASSET SALES		PURCHASE			6,599,125	5,350,643			1,248,482

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CORPORATE STOCK	1,972,644	1,972,644
TRULITE	772,560	772,560
SMART FURNITURE HOLDING LLC	35,662	35,662
UNREALIZED GAIN/LOSS OTHER (NETTED)

Category/ Item	Cost/Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND	93,669,376		93,669,376	93,669,376
LAND IMPROVEMENTS	2,463,553	1,089,616	1,373,937	1,370,790
BLDGS & LEASEHOLD IMPROVEMENTS	39,877,397	8,521,614	31,355,783	31,355,783
FURNITURE & EQUIPMENT	531,895	254,161	277,734	277,734
EQUIPMENT & TOOLS	100,772	25,505	75,267	75,268
SOFTWARE	31,268	21,279	9,989	9,988
LEASEHOLD COSTS	669,581	86,705	582,876	582,876
MOBILE HOME COMPLEX	47,529	18,556	28,973	32,120
LEASE ACQUISITION COSTS	2,257,321	1,587,071	670,250	670,250
MINERAL INTERESTS	122,260,524		122,260,524	122,260,524
UNREAL LOSS

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
CITY OF CORPUS CHRISTI BONDS	FMV	1,530,000	1,530,000
LOAN COMMITMENTS	FMV	2,336,323	2,336,323
NOTES RECEIVABLE	FMV	165,160,528	165,160,528
STANDARD RENEWABLE ENERGY (NETTED)	FMV
UNREALIZED LOSS ON OTHER (NETTED))	FMV

Category / Item	Cost / Other Basis	Book Value	End of Year Fair Market Value
BLDGS & LEASEHOLD IMPROVEMENTS	35,757,578	35,757,578	35,757,578
LAND IMPROVEMENTS	3,134,739	3,134,739	3,134,739
MOBILE HOMES	319,409	319,409	319,409
PILATUS	12,094,439	12,094,439	12,094,439
FURNITURE AND OFFICE EQ	61,028	61,028	61,028
EQ AND TOOLS	14,606	14,606	14,606
MINERALS
UNREALIZED LOSS ON FIXED ASSETS
LAND	51,955,712	51,955,712	51,955,712

Description	Amount
UNREALIZED LOSS ON ASSETS	14,234,361
UNREALIZED LOSS ON INVESTMENTS	601,978

Software ID:
Software Version:

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
RENT INCOME
802NC RENTAL EXPENSES	3,076,066	3,076,066
TOWER II RENTAL EXPENSES	2,948,061	2,948,061
FARM RENTAL INCOME
INSURANCE
EXPENSES
FUEL & OIL - NON-EXEMPT	13,608	13,608
MACHINE HIRE - NON-EXEMPT	5,195	5,195
REPAIR & MAINT - NON-EXEMPT	787,964	787,964
CONTRACT LABOR - NON EXEMPT	384,962	384,962
SUPPLIES - NON-EXEMPT	182,362	182,362
POSTAGE - NON EXEMPT	1,334	1,334
SEMINARS - NON-EXEMPT	29,189	29,189
GENERAL OFFICE EXPENSE - NON	42,712	42,712
LIABILITY & WORKERS COMP - NO	2,489	2,489
AUTO INSURANCE - NON EXEMPT	5,471	5,471
OTHER INSURANCE - NON EXEMPT	942,602	942,602
BOARD TRAVEL & OTHER EXPENSE	11,475	7,651	3,825
AIRPLANE - NON-EXEMPT	20,876	20,876
OTHER EMPLOYEE EXPENSE	67,738	67,738
FUEL & OIL - EXEMPT	401		401
REPAIR & MAINT - EXEMPT	663,536		663,536
CONTRACT LABOR - EXEMPT	12,875		12,875
SUPPLIES - EXEMPT	39,586		39,586
EXEMPT PURPOSE EXPENSES	337,052		337,052
POSTAGE - EXEMPT	1,425		1,425
SEMINARS - EXEMPT	31,793		31,793
GENERAL OFFICE EXPENSE	53,687		53,687
AUTO INSURANCE - EXEMPT	531		531
OTHER INSURANCE - EXEMPT	137,079		137,079
AIRPLANES - EXEMPT	6,902		6,902

Description	Revenue And Expenses Per Books	Net Investment Income
ROYALTIES - GALVAN RANCH	86,934,407	86,934,407
ROYALTIES - EL DESCONSO	631,938	631,938
ROYALTIES-OTHER	351,957	351,957
MISCELLANEOUS INCOME	554,395	554,395
EASEMENTS & ROW	102,402	102,402

Description	Beginning of Year - Book Value	End of Year - Book Value
ESCROW ACCT	2,894	4,754
TENANT DEPOSITS	135,445	134,785
UNFUNDED LOAN COMMITMENTS	8,396,400	2,336,323

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
CONSULTING	684,167	324,576		359,591
INVESTMENT CHARGES & FEES	33,638	33,347		291

Category	Amount	Net Investment Income
PENALTY	1,155	1,155
EXCISE TAXES	970,000	970,000
PROPERTY TAXES	3,360,937	3,360,937

Name	US / Foreign Address	EIN	Description	Amount
ERF REAL ESTATE INC	555 N CARANCAHUA STE 700 CORPUS CHRISTI,TX78401	20-2661759	REMIT NET INCOME	5,007,923
Total				8,057,804

Name	US / Foreign Address	EIN	Description	Amount
ERF REAL ESTATE INC	555 N CARANCAHUA STE 700 CORPUS CHRISTI,TX78401	20-2661759	CASH TRANSFERS FOR IMPROVMNTS	374,168
Total				64,242,308