Conrad Foundation
- Assets
- $340.1k
- Revenue
- $530.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 06/2008
- Data as of
- 12/2023
- EIN
- 26-2304138
Organization Overview
Conrad Foundation is located in Houston, TX. The organization was established in 2008. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Conrad 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 12/2023, Conrad Foundation generated $530.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $414.1k during the year ending 12/2023. While expenses have increased by 5.2% per year over the past 7 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
SEE SCHEDULE O FOR THE ORGANIZATION MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONRAD FOUNDATION'S CONRAD CHALLENGE BRINGS TOGETHER A DYNAMIC COMMUNITY OF INNOVATORS AND ENTREPRENEURS DRIVING A COLLABORATIVE MOVEMENT TO DEVELOP EXTRAORDINARY AND VIABLE SOLUTIONS TO BENEFIT OUR WORLD IN ONE OF FOUR AREAS: AEROSPACE & AVIATION, CYBER TECHNOLOGY & SECURITY, ENERGY & ENVIRONMENT, AND HEALTH & NUTRITION. THE ANNUAL BUSINESS AND TECHNICAL PLAN COMPETITION CHALLENGES TEAMS OF STUDENTS AGES 13-18 TO COMBINE INNOVATION AND ENTREPRENEURSHIP, ALONG WITH STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH), TO CREATE COMMERCIALLY-VIABLE PRODUCTS. THE CONRAD CHALLENGE REACHES ALL SOCIO-ECONOMIC LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Conrad Board Chairman | OfficerTrustee | 40 | $0 |
Nicolas Costides President & Director | OfficerTrustee | 10 | $0 |
Andy Steinem Treasurer & Director | OfficerTrustee | 10 | $0 |
Laura Peter Secretary & Director | OfficerTrustee | 5 | $0 |
Jack Griem Director | Trustee | 10 | $0 |
Craig Gelfound Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Griffin Communications Group Prgrm Srvc Mgmt | 12/30/21 | $545,000 |
Delivering Impact Llc Consulting | 12/30/21 | $110,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $357,576 |
| Noncash contributions included in lines 1a–1f | $167,066 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $357,576 |
| Total Program Service Revenue | $168,719 |
| Investment income | $4,020 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $530,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,089 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $195,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,186 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $3,750 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,342 |
| Advertising and promotion | $0 |
| Office expenses | $129 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $545 |
| Travel | $25,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,500 |
| All other expenses | $212 |
| Total functional expenses | $414,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,532 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $201,524 |
| 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 | $340,054 |
| Accounts payable and accrued expenses | $455 |
| 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 | $10,703 |
| Total liabilities | $11,158 |
| Net assets without donor restrictions | $282,013 |
| Net assets with donor restrictions | $46,883 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $340,054 |
Grants Awarded
Over the last fiscal year, Conrad Foundation has awarded $102,268 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KC SOCIAL IMPACT LAB LLC PURPOSE: ACCESS TO TECHNOLOGY | $69,802 |
UNREASONABLE KIDS COLLEGE PURPOSE: ACCESS TO TECHNOLOGY | $32,466 |