The Laredo Area Community Foundation
- Assets
- $15.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Laredo, TX
- Founding
- 02/2001
- Data as of
- 12/2022
- EIN
- 31-1742706
Organization Overview
The Laredo Area Community Foundation is located in Laredo, TX. The organization was established in 2001. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Laredo Area Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laredo Area Community 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, Laredo Area Community Foundation generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $917.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Laredo Area Community Foundation has awarded 101 individual grants totaling $2,567,953. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE BY GENEROSITY AND EMPOWER BY A LEGACY OF GIVING, THE LAREDO AREA COMMUNITY FOUNDATION PROVIDES FOR THE PHILANTHROPIC NEEDS OF LAREDO AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAREDO AREA COMMUNITY FOUNDATION MANAGES FUNDS CONTRIBUTED BY CITIZENS, BUSINESS ENTITIES, NON-PROFIT ORGANIZATIONS AND PUBLIC AGENCIES TO BENEFIT LAREDO AND SOUTH TEXAS. REVENUES ARE FROM CONTRIBUTIONS, INVESTMENTS AND FUND RAISING. THE INDIVIDUAL FUNDS (DONOR ADVISED FUNDS AND PERMANENT ENDOWMENT FUNDS) MAKE CHARITABLE QUALIFIED GRANTS AS SPECIFIED IN THEIR GOVERNING INSTRUMENTS. GRANTS ARE USED IN THE AREAS OF: ARTS, EDUCATION, ENVIRONMENT, HEALTH, RELIGIOUS AND SOCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith W Franklin Director | Trustee | 0.5 | $0 |
Nancy DE Anda Director | Trustee | 0.5 | $0 |
Ricardo E Morales Director | Trustee | 0.5 | $0 |
Maria Candelaria Uribe Hein Director | Trustee | 0.5 | $0 |
Matias DE Llano III Director | Trustee | 0.5 | $0 |
Jeremy Peters Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $947,802 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $948,502 |
| Total Program Service Revenue | $0 |
| Investment income | $399,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,103 |
| Net Income from Fundraising Events | $4,090 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,353,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $577,414 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $47,042 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $600 |
| Payroll taxes | $3,602 |
| Fees for services: Management | $122,389 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $119,152 |
| Fees for services: Other | $2,175 |
| Advertising and promotion | $825 |
| Office expenses | $2,535 |
| Information technology | $691 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $289 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,402 |
| Insurance | $17,656 |
| All other expenses | $1,054 |
| Total functional expenses | $917,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,455 |
| Investments—publicly traded securities | $15,015,946 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,194,862 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $820,976 |
| Net assets with donor restrictions | $14,373,886 |
| 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 | $15,194,862 |
Grants Awarded
Over the last fiscal year, The Laredo Area Community Foundation has awarded $466,062 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
BETHANY HOUSE OF LAREDO PURPOSE: Operating Expenses | $5,507 |
BOYS AND GIRLS CLUB OF LAREDO PURPOSE: Operating Expenses | $45,572 |
CASA DE MISERICORDIA PURPOSE: Operating Expenses | $13,180 |
CHRIST CHURCH EPISCOPAL PURPOSE: Operating Expenses | $33,384 |
CHURCH OF CHRIST OF LAREDO PURPOSE: Operating Expenses | $20,000 |
COMMUNITIES IN SCHOOLS PURPOSE: Operating Expenses | $5,723 |