Veteto Foundation
- Assets
- $19.8k
- Revenue
- $40.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 12/2006
- Data as of
- 06/2024
- EIN
- 20-5181651
Organization Overview
Veteto Foundation is located in Hobbs, NM. 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. Veteto Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2016, Veteto Foundation has awarded 114 individual grants totaling $408,750. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
FURTHERING PUBLIC EDUCATION IN THE CITY OF HOBBS, NEW MEXICO BY ENCOURAGING TEACHERS TO STAY IN THE PROFESSION OF TEACHING.
DONATION TO SOUTHWEST SYMPHONY, INC
DONATION TO PALMER DRUG ABUSE PROGRAM
DONATION TO UNIVERSITY OF NORTH TEXAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Veteto President | 5 | $0 | |
Mark Veteto Secretary/di | 5 | $0 | |
Mark Veteto Treasurer | 5 | $0 | |
Scotty Holloman Director | 15 | $0 | |
Janey Roan Director | 1 | $0 | |
Kali D'onofrio Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,000 |
| 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 | $40,000 |
| 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 | $7,681 |
| Total operating and administrative expenses | $9,707 |
| Contributions, gifts, grants paid | $36,500 |
| Total expenses and disbursements | $46,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,795 |
| 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 | $19,795 |
| 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, Veteto Foundation has awarded $36,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
PALMER DRUG ABUSE PROGRAM PURPOSE: DRUG ABUSE COUNSELING | $5,000 |
SOUTHWEST SYMPHONY INC PURPOSE: PROMOTION OF EDUCATION | $3,000 |
UNIVERSITY OF NORTH TEXAS PURPOSE: PROMOTION OF EDUCATION | $2,500 |
MYPOWER PURPOSE: PROMOTION OF EDUCATION | $1,000 |
DORA K DAVIS PURPOSE: PROMOTION OF EDUCATION | $5,000 |
HAYLEY ARMSTRONG PURPOSE: PROMOTION OF EDUCATION | $5,000 |