Asco Foundation
- Assets
- $17.6m
- Revenue
- $5.0m
- Investments
- $11.1m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 03/2012
- Data as of
- 12/2022
- EIN
- 45-6659354
Organization Overview
Asco Foundation is located in Lubbock, TX. The organization was established in 2012. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Asco 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, Asco Foundation generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Asco Foundation has awarded 51 individual grants totaling $1,715,171. 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 |
|---|---|---|---|
Wb Brax Wright Trustee | 1 | $0 | |
John Stephen Wright Trustee | 1 | $0 | |
Paula Wright Key Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,043 |
| Interest on Savings | $8 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,000,051 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $35 |
| Total operating and administrative expenses | $35 |
| Contributions, gifts, grants paid | $1,503,323 |
| Total expenses and disbursements | $1,503,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,498,580 |
| 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 | $11,140,652 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,639,232 |
| 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, Asco Foundation has awarded $1,503,323 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
LUBBOCK ISD FOUNDATION PURPOSE: GENERAL PURPOSE | $2,500 |
COMMUNITY PARTNERS OF LUBBOCK PURPOSE: GENERAL PURPOSE | $2,500 |
LUBBOCK WOMEN'S CLUB PURPOSE: GENERAL PURPOSE | $5,000 |
HIGH POINT VILLAGE PURPOSE: GENERAL PURPOSE | $5,500 |
ALL SAINTS SCHOOL PURPOSE: GENERAL PURPOSE | $5,000 |
CASA OF THE SOUTH PLAINS PURPOSE: GENERAL PURPOSE | $63,173 |