Joseph W Craft Iii Foundation
- Assets
- $111.8m
- Revenue
- $19.4m
- Investments
- $36.7m
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 06/1997
- Data as of
- 12/2021
- EIN
- 73-1514539
Organization Overview
Joseph W Craft Iii Foundation is located in Tulsa, OK. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Joseph W Craft Iii 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 12/2021, Joseph W Craft Iii Foundation generated $19.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $11.8m during the year ending 12/2021. While expenses have increased by 21.5% per year over the past 7 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 2014, Joseph W Craft Iii Foundation has awarded 94 individual grants totaling $25,257,360. 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
2021
Describe the Organization's Program Activity:
THE JOSEPH W. CRAFT, III FOUNDATION IS A NON-OPERATING PRIVATE FOUNDATION WHICH MAKES GIFTS TO CHARITABLE ORGANIZATIONS. THE FOUNDATION DOES NOT OPERATE ANY FACILITY OR INSTITUTION UNDERTAKING A CHARITABLE, EDUCATIONAL, OR RELIGIOUS ENDEAVOR.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,750,000 |
| Interest on Savings | $2,627 |
| Dividends & Interest | $640,996 |
| Net Rental Income | $129,002 |
| Net Gain on Sale of Assets | $3,291,769 |
| Capital Gain Net Income | $2,636,788 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,619,814 |
| Total Revenue | $19,434,208 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $4,657 |
| Taxes | $322,854 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,009,777 |
| Total operating and administrative expenses | $6,419,340 |
| Contributions, gifts, grants paid | $5,357,359 |
| Total expenses and disbursements | $11,776,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,549,982 |
| Savings and temporary cash investments | $35,524,287 |
| 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 | $29,042,391 |
| Investments—mortgage loans | $0 |
| Investments—other | $21,476,435 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $111,776,138 |
| 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, Joseph W Craft Iii Foundation has awarded $5,357,359 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF KENTUCKY PURPOSE: CHARITABLE | $1,120,000 |
Morehead, KY PURPOSE: CHARITABLE | $950,000 |
Louisville, KY PURPOSE: CHARITABLE | $900,000 |
Lexington, KY PURPOSE: CHARITABLE | $500,000 |
GOVERNMENT ACCOUNTABILITY OVERSIGHT PURPOSE: CHARITABLE | $300,000 |
AMERICAN ENTERPRISE INSTITUTE PURPOSE: CHARITABLE | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burnett Foundation Fort Worth, TX | $195,880,351 | $2,811,908 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Rapier Family Foundation San Antonio, TX | $15,198 | $1,321,420 |
Dan L Duncan Family Foundation Houston, TX | $0 | $27,292,814 |
James S Mcdonnell Foundation St Louis, MO | $496,119,714 | $80,243,658 |
Patterson Family Foundation Kansas City, MO | $1,526,002,008 | $1,174,628,172 |
Fmh Foundation Midland, TX | $321,253,044 | $148,706,487 |
Inasmuch Foundation Oklahoma City, OK | $394,422,796 | $49,887,073 |
Ting Tsung And Wei Fong Chao Foundation Houston, TX | $26,401,006 | $21,447,473 |
William K Warren Foundation Tulsa, OK | $318,898,600 | $38,179,587 |
Impetus Foundation San Antonio, TX | $248,495,187 | $85,291,192 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |