Drake Bettner Foundation
- Assets
- $3.1m
- Revenue
- $121.8k
- Investments
- $3.1m
- Employees
- 0
- Location
- Mckinney, TX
- Founding
- 12/2013
- Data as of
- 12/2022
- EIN
- 27-4299350
Organization Overview
Drake Bettner Foundation is located in Mckinney, TX. The organization was established in 2013. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Drake Bettner 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, Drake Bettner Foundation generated $121.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $431.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Drake Bettner Foundation has awarded 108 individual grants totaling $1,677,227. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Bettner Director | 1 | $0 | |
Katherine D Bettner Director | 1 | $0 | |
Alan D Drake Director | 40 | $84,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,178 |
| Dividends & Interest | $28,506 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $97,391 |
| Capital Gain Net Income | $6,981 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$15,241 |
| Total Revenue | $121,834 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $84,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $6,426 |
| Interest | $1,472 |
| Taxes | $4,417 |
| Depreciation | $0 |
| Occupancy | $9,200 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $354 |
| Total operating and administrative expenses | $135,028 |
| Contributions, gifts, grants paid | $296,030 |
| Total expenses and disbursements | $431,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,624 |
| Savings and temporary cash investments | $47,347 |
| 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 | $1,227,453 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,129,463 |
| Accounts payable and accrued expenses | $1,828 |
| 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 | $1,828 |
Grants Awarded
Over the last fiscal year, Drake Bettner Foundation has awarded $296,030 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH TEXAS FAMILY HEATH FOUNDATION PURPOSE: BUILD STRONGER, HEALTHIER COMMUNITY | $100,000 |
THE 19TH PURPOSE: SOURCE OF NEWS FOR UNDERREPRESENTED | $30,000 |
PATRIOTIC MILLIONAIRES PURPOSE: BUILD MORE STABLE INCLUSIVE NATION | $7,500 |
B C VOICE PURPOSE: COLLECT, PRESERVE & SHARE STORIES | $25,000 |
COMMUNITY FOOD PANTRY PURPOSE: PROVIDE FOOD & HYGEINE THOSE IN NEED | $1,974 |
EDWARD CHARLES FOUNDATION PURPOSE: TO EDUCATE CLIENTS ON CHARITABLE FUN | $25,000 |