Louis And Mary Kay Smith Family Foundation Inc
- Assets
- $997.2k
- Revenue
- $179.5k
- Investments
- $975.9k
- Employees
- 0
- Location
- Houston, TX
- Founding
- 11/2011
- Data as of
- 12/2021
- EIN
- 45-2632241
Organization Overview
Louis And Mary Kay Smith Family Foundation Inc is located in Houston, TX. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Louis And Mary Kay Smith Family Foundation Inc 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 12/2021, Louis And Mary Kay Smith Family Foundation Inc generated $179.5k 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 (3.6%) each year. All expenses for the organization totaled $457.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Louis And Mary Kay Smith Family Foundation Inc has awarded 455 individual grants totaling $1,946,100. 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
2021
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 |
|---|---|---|---|
Janet Hughes Vice President | 3 | $30,008 | |
Louis Smith President/treasurer | 2.3 | $0 | |
Mary Kay Smith Secretary | 2.3 | $0 | |
Marcia Robitaille Director | 1 | $0 | |
Matthew Smith Director | 1 | $0 | |
Andrew Smith Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $18 |
| Dividends & Interest | $96,591 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $82,873 |
| Capital Gain Net Income | $82,873 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $179,482 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,008 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,198 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $57,472 |
| Contributions, gifts, grants paid | $400,000 |
| Total expenses and disbursements | $457,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,301 |
| 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 | $997,207 |
| 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, Louis And Mary Kay Smith Family Foundation Inc has awarded $400,000 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
Lagrange, GA PURPOSE: EDUCATION | $35,000 |
Northfield, MN PURPOSE: EDUCATION | $35,000 |
Seattle, WA PURPOSE: EDUCATION | $25,000 |
CROSSLAKE PRESBYTERIAN CHURCH PURPOSE: CHURCH | $17,000 |
HOPKINS PUBLIC SCHOOLS PURPOSE: EDUCATION | $10,000 |
RICE UNIVERSITYWILLIAM MARSH RICE UNIVERSITY PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |