British American Foundation Of Texas
- Assets
- $2.1m
- Revenue
- $887.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Houston, TX
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 06-1807573
Organization Overview
British American Foundation Of Texas is located in Houston, TX. The organization was established in 2007. According to its NTEE Classification (T30) the organization is classified as: Public 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. British American Foundation Of Texas 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 12/2023, British American Foundation Of Texas generated $887.3k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 31.8% each year . All expenses for the organization totaled $517.6k during the year ending 12/2023. While expenses have increased by 12.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BAFTX PROVIDES FINANCIAL SUPPORT TO ENABLE TEXAS STUDENTS TO FULFIL THEIR POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNDERGRADUATE SCHOLARSHIP PROGRAM COVERS UP TO ONE SEMESTER'S EDUCATIONAL EXPENSES AT A UNIVERSITY IN TEXAS. IN 2023, 75 UNDERGRADUATE SCHOLARSHIPS WERE AWARDED.
IN 2023, THE SUSAN HOWARD COMMUNITY SERVICE SCHOLARSHIP AWARD WAS GRANTED TO A DESERVING STUDENT.
JR ACHIEVER SCHOLARSHIP PROGRAM - PROVIDES HOUSTON STUDENTS AGED 17-18 THE OPPORTUNITY TO ATTEND A SUMMER STUDIES PROGRAM IN THE UK. IN 2023, TEN JR ACHIEVER SCHOLARSHIPS WERE AWARDED.
WOMEN IN STEM - PROVIDES FEMALES MAJORING IN STEM AWARDS OF UP TO $5,000 AND COVERS UP TO ONE SEMESTER'S EDUCATIONAL EXPENSES AT A UNIVERSITY IN TEXAS. IN 2023, 19 WOMEN IN STEM SCHOLARSHIPS WERE AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Howard Chairman | OfficerTrustee | 5 | $0 |
James Mclennan President | OfficerTrustee | 5 | $0 |
Letitia Verlander Secretary | OfficerTrustee | 5 | $0 |
Genie Panaccione Treasurer | OfficerTrustee | 5 | $0 |
Jenn Ansorger Director | Trustee | 5 | $0 |
Emily Capps Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $832,851 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,833 |
| Noncash contributions included in lines 1a–1f | $154,491 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $937,684 |
| Total Program Service Revenue | $0 |
| Investment income | $55,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$105,908 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $887,261 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $327,145 |
| Grants and other assistance to Foreign Orgs/Individuals | $15,754 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $81,750 |
| Compensation of current officers, directors, key employees. | $20,437 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,254 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,504 |
| Advertising and promotion | $1,060 |
| Office expenses | $11,310 |
| Information technology | $375 |
| Royalties | $0 |
| Occupancy | $876 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $295 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,100 |
| All other expenses | $0 |
| Total functional expenses | $517,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,015 |
| Savings and temporary cash investments | $1,871,097 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,091,112 |
| Accounts payable and accrued expenses | $8,734 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,734 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,082,378 |
| Total liabilities and net assets/fund balances | $2,091,112 |