Mccorkle Foundation
- Assets
- $2.9m
- Revenue
- $372.1k
- Investments
- $2.5m
- Employees
- 0
- Location
- Cypress, TX
- Founding
- 03/2015
- Data as of
- 12/2022
- EIN
- 47-2704829
Organization Overview
Mccorkle Foundation is located in Cypress, TX. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Mccorkle 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, Mccorkle Foundation generated $372.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $306.0k during the year ending 12/2022. While expenses have increased by 23.5% per year over the past 8 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.
Since 2015, Mccorkle Foundation has awarded 64 individual grants totaling $669,879. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
SCHOLARSHIPS WERE GIVEN TO 8 RECIPIENTS TOTALLING $54,720
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank A Mccorkle Director & President | 0 | $0 | |
Kristin V Mccorkle Director | 0 | $0 | |
Rachel Mccorkle Director | 0 | $0 | |
Marsha M Mccorkle Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $79,768 |
| Net Rental Income | $90,742 |
| Net Gain on Sale of Assets | $86,729 |
| Capital Gain Net Income | $86,729 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $112,569 |
| Total Revenue | $372,097 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $21,590 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $29,090 |
| Total operating and administrative expenses | $51,805 |
| Contributions, gifts, grants paid | $254,174 |
| Total expenses and disbursements | $305,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,323 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $21,670 |
| 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 | $2,900,267 |
| 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, Mccorkle Foundation has awarded $254,174 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
ABUNDANT BLESSINGS PURPOSE: FUNDS WERE PROVIDED TO HELP FURTHER THEIR CHARITABLE PROGRAMS IN SUPPORT OF NEW AND SOON TO BE MOTHERS IN THE GROVE, OK AREA. | $500 |
BRUK MULATU PURPOSE: SCHOLARSHIP PAID TO THE LETOURNEAU UNIVERSITY FOR BRUK MULATU TO ATTEND SCHOOL. THE SCHOLARSHIP IS INTENDED TO ASSIST WITH HER EDUCATION, INCLUDING TUITION, BOOKS, ROOM AND BOARD. | $10,000 |
CALEB TESFAYE PURPOSE: SCHOLARSHIP PAID TO THE LETOURNEAU UNIVERSITY FOR CALEB TESFAYE TO ATTEND SCHOOL. THE SCHOLARSHIP IS INTENDED TO ASSIST WITH HER EDUCATION, INCLUDING TUITION, BOOKS, ROOM AND BOARD. | $4,720 |
CHACE NELSON PURPOSE: SCHOLARSHIP PAID TO THE OK BAPTIST UNIVERSITY FOR CHCE NELSON TO ATTEND SCHOOL. THE SCHOLARSHIP IS INTENDED TO ASSIST WITH HER EDUCATION, INCLUDING TUITION, BOOKS, ROOM AND BOARD. | $5,000 |
LILY GREENLAW PURPOSE: SCHOLARSHIP PAID TO THE LIBERY UNIVERSITY FOR LILY GREENLAW TO ATTEND SCHOOL. THE SCHOLARSHIP IS INTENDED TO ASSIST WITH HER EDUCATION, INCLUDING TUITION, BOOKS, ROOM AND BOARD. | $10,000 |
NEBIYOU ERSABO PURPOSE: SCHOLARSHIP PAID TO TEXAS A&M UNIVERSITY FOR NEBIYOU ERSABO TO ATTEND SCHOOL. THE SCHOLARSHIP IS INTENDED TO ASSIST WITH HER EDUCATION, INCLUDING TUITION, BOOKS, ROOM AND BOARD. | $5,000 |