John And Patricia Adams Foundation
- Assets
- $6.7m
- Revenue
- $393.1k
- Investments
- $6.4m
- Employees
- 0
- Location
- Bedford, TX
- Founding
- 05/2006
- Data as of
- 12/2022
- EIN
- 20-4480039
Organization Overview
John And Patricia Adams Foundation is located in Bedford, TX. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. John And Patricia Adams 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, John And Patricia Adams Foundation generated $393.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $336.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, John And Patricia Adams Foundation has awarded 31 individual grants totaling $1,853,520. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE JOHN AND PATRICIA ADAMS FOUNDATION IS TO PROVIDE FUNDING ON A PERPETUAL BASIS TO DESERVING ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS OR EDUCATIONAL PURPOSES, WITH EMPHASIS ON EDUCATION, WITHIN THE MEANING OF SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Adams President | 0 | $0 | |
Patricia Adams Secretary | 0 | $0 | |
John Adams Jr Former VP | 0 | $0 | |
Lary Snodgrass Trustee | 0 | $0 | |
Sam P Burford Jr Trustee | 0 | $0 | |
Sherri Adams Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $22,603 |
| Dividends & Interest | $125,123 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $245,368 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $393,094 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $934 |
| Depreciation | $0 |
| Occupancy | $9,313 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $41,977 |
| Total operating and administrative expenses | $60,954 |
| Contributions, gifts, grants paid | $275,000 |
| Total expenses and disbursements | $335,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $241,792 |
| Net Accounts receivable | $5,395 |
| 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 | $177 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,687,812 |
| 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, John And Patricia Adams Foundation has awarded $275,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
HEIDELBERG COLLEGE PURPOSE: PATRICIA ADAM LECTURE SERIES | $100,000 |
RANGER ACADEMIC ENRICHMENT FDT PURPOSE: EDUCATIONAL PROGRAMS | $35,000 |
CHILD CARE ASSOCIATES PURPOSE: PREK CHILD PARTNERSHIP | $70,000 |
HAPPY HILL FARM PURPOSE: EDUCATIONAL PROGRAMS | $20,000 |
SEEDS OF LEARNING PURPOSE: ENDOWMENT FUND | $50,000 |