Nabors Charitable Foundation
- Assets
- $21.0m
- Revenue
- $300.0k
- Investments
- $20.8m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/2005
- Data as of
- 12/2022
- EIN
- 03-0569199
Organization Overview
Nabors Charitable Foundation is located in Houston, TX. The organization was established in 2005. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nabors Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Nabors Charitable Foundation generated $300.0k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $267.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL GRANTS TO INDIVIDUALS SELECTED BY THE FOUNDATION'S BOARD OF DIRECTORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Rasmuson Svp/cco/secretary | 0 | $0 | |
Clark Wood Treasurer | 0 | $0 | |
Stephen Kaufman Member | 0 | $0 | |
Carina Lovato Member | 0 | $0 | |
William Macauley Member | 0 | $0 | |
Robert Morgenthau Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $300,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,741 |
| Total operating and administrative expenses | $3,741 |
| Contributions, gifts, grants paid | $263,500 |
| Total expenses and disbursements | $267,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,523 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,017,523 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Nabors Charitable Foundation has awarded $283,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DISASTER RELIEF PURPOSE: DISASTER RELEIF - FURTHER DETAILS ATTACHED | $15,000 |
STUDENT GRANTS PURPOSE: STUDENT GRANTS - FURTHER DETAILS ATTACHED | $268,500 |