Sarofim Foundation
- Assets
- $28.1m
- Revenue
- $21.9m
- Investments
- $7.8m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 03/1971
- Data as of
- 06/2022
- EIN
- 23-7065248
Organization Overview
Sarofim Foundation is located in Houston, TX. The organization was established in 1971. 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. Sarofim 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 06/2022, Sarofim Foundation generated $21.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 52.2% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 4.1% per year over the past 6 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.
Since 2015, Sarofim Foundation has awarded 155 individual grants totaling $11,968,000. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fayez Sarofim Through 5282022 Trustee | 0 | $0 | |
Christopher B Sarofim Trustee | 0 | $0 | |
Raye G White Trustee | 0 | $0 | |
William Gentry Lee Jr Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,303,764 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $561,941 |
| Capital Gain Net Income | $561,941 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,865,705 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,038 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,856 |
| Total operating and administrative expenses | $25,588 |
| Contributions, gifts, grants paid | $1,942,000 |
| Total expenses and disbursements | $1,967,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,228,597 |
| 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 | $45,577 |
| Total assets | $28,099,480 |
| 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, Sarofim Foundation has awarded $1,942,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
THE BEACON FORMERLY HOUSTON COMPASS INC PURPOSE: GENERAL CHARITABLE PURPOSES | $30,000 |
KNOWLEDGE ARTS FOUNDATION DBA TEACH PURPOSE: GENERAL CHARITABLE PURPOSES | $1,150,000 |
SOCIETY OF ST VINCENT DE PAUL PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |
STAR OF HOPE MISSION PURPOSE: GENERAL CHARITABLE PURPOSES | $77,000 |
HOUSTON PUBLIC MEDIA FOUNDATION PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
HOUSTON BALLET PURPOSE: GENERAL CHARITABLE PURPOSES (2022 NUTCRACKER MARKET) | $25,000 |