Coastal Bend Community Foundation
- Assets
- $108.8m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Corpus Christi, TX
- Founding
- 08/1981
- Data as of
- 12/2020
- EIN
- 74-2190039
Organization Overview
Coastal Bend Community Foundation is located in Corpus Christi, TX. The organization was established in 1981. 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 12/2021, Coastal Bend Community Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal Bend 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 12/2020, Coastal Bend Community Foundation generated $10.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $11.0m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Coastal Bend Community Foundation has awarded 1,179 individual grants totaling $57,732,255. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE IN THE COASTAL BEND AREA OF TEXAS THROUGH CHARITABLE AND EDUCATIONAL GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES GRANTS TO NONPROFIT ORGANIZATIONS TO IMPROVE THE QUALITY OF LIFE IN THE COASTAL BEND AREA OF TEXAS FROM UNRESTRICTED, FIELD-OF-INTEREST, DESIGNATED, SPECIAL PROJECT AND DONOR ADVISED FUNDS.
THE FOUNDATION PROVIDES SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS IN ACCORDANCE WITH THE TERMS OF THE APPROXIMATE 100 SCHOLARSHIP AND FELLOWSHIP FUNDS.
ON NOVEMBER 9, 2021 THE FOUNDATION HAD A ONE 24 HOUR PERIOD OF ONLINE GIVING OF DONATIONS CALLED THE "COASTAL BEND DAY OF GIVING", WHERE DONORS MATCHED THE FIRST 1.2 MILLION COLLECTED FOR 56 NONPROFITS IN THE COASTAL BEND SERVICE AREA. THE TOTAL AMOUNT GRANTED TO THE 56 NONPROFITS WAS 3,545,162 WHICH PROVIDED ASSISTANCE TO OVER 115,600 COASTAL BEND RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen W Selim President An | Officer | 40 | $178,500 |
Alyssa Monette Director Of | Officer | 40 | $94,600 |
Tracy Ramirez Director Of | Officer | 40 | $75,300 |
Jennifer Vogt Chair | OfficerTrustee | 1 | $0 |
Ricki Cunningham Vice Chair | OfficerTrustee | 1 | $0 |
Mike Carrell Past Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,365,980 |
| Investment income | $1,012,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $152,736 |
| Net Rental Income | $28,985 |
| Net Gain/Loss on Asset Sales | $350,907 |
| Net Income from Fundraising Events | -$15,642 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,804,915 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $511,982 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $372,461 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,320 |
| Pension plan accruals and contributions | $5,122 |
| Other employee benefits | $15,877 |
| Payroll taxes | $36,527 |
| Fees for services: Management | $6,910 |
| Fees for services: Legal | $9,955 |
| Fees for services: Accounting | $29,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $228,623 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,450 |
| Office expenses | $23,269 |
| Information technology | $44,760 |
| Royalties | $0 |
| Occupancy | $40,550 |
| Travel | $2,924 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,171 |
| Interest | $42 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,113 |
| Insurance | $10,212 |
| All other expenses | $0 |
| Total functional expenses | $10,980,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $721,899 |
| Savings and temporary cash investments | $96 |
| Pledges and grants receivable | $105,150 |
| Accounts receivable, net | $62,307 |
| 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 | $54,835 |
| Investments—publicly traded securities | $103,629,217 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,250 |
| Total assets | $108,771,206 |
| Accounts payable and accrued expenses | $86,461 |
| Grants payable | $483,847 |
| 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 | $9,373,697 |
| Total liabilities | $9,944,005 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $98,827,201 |
Grants Awarded
Over the last fiscal year, Coastal Bend Community Foundation has awarded $6,857,280 in support to 140 organizations.
| Grant Recipient | Amount |
|---|---|
Sinton, TX PURPOSE: PROGRAM SUPPORT | $625,824 |
Austin, TX PURPOSE: PROGRAM SUPPORT | $499,930 |
Corpus Christi, TX PURPOSE: HUNGER SUPPORT | $189,811 |
Corpus Christi, TX PURPOSE: EDUCATIONAL PROGRAMS | $181,200 |
Corpus Christi, TX PURPOSE: FOOD/EDUCATION PROGR | $160,148 |
Atlanta, GA PURPOSE: FOOD/SHELTER SUPPORT | $146,050 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Coastal Bend Community Foundation has recieved totaling $353,293.
| Awarding Organization | Amount |
|---|---|
Methodist Healthcare Ministries Of South Texas Inc San Antonio, TX PURPOSE: Winter Storm Relief | $100,000 |
Laverne And Thomas Howell Foundation Corpus Christi, TX PURPOSE: COASTAL BEND DAY OF GIVING | $50,000 |
The@margaret Sue Rust Foundation Rockport, TX PURPOSE: OPERATIONS | $40,000 |
Dr And Mrs Hugh A Kennedy Foundation Corpus Christi, TX PURPOSE: DAY OF GIVING | $25,000 |
The Morris L Lichtenstein Jr Medical Research Foundation Corpus Christi, TX PURPOSE: MATCHING GRANT | $25,000 |
Earl C Sams Foundation Inc Corpus Christi, TX PURPOSE: 2020 DAY OF GIVING AND MAYOR'S DISASTER RECOVERY FUND | $20,000 |
Endowment Analysis
| Beg. Balance | $76,273,624 |
| Earnings | $13,406,835 |
| Admin Expense | $915,356 |
| Net Contributions | $2,779,903 |
| Other Expense | -$915,356 |
| Grants | $1,312,856 |
| Ending Balance | $91,147,506 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Antonio Area Foundation San Antonio, TX | $587,345,748 | $192,937,536 |
The Greater New Orleans Foundation New Orleans, LA | $406,748,750 | $50,799,913 |
Arkansas Community Foundation Inc Little Rock, AR | $560,797,819 | $112,679,416 |
Oklahoma City Community Foundation Inc Oklahoma City, OK | $855,000,248 | $159,496,642 |
Community Foundation Of North Texas Fort Worth, TX | $520,525,998 | $72,575,782 |
Baton Rouge Area Foundation Baton Rouge, LA | $293,247,071 | $35,030,558 |
Astros Golf Foundation Houston, TX | $9,630,590 | $24,941,045 |
Santa Fe Community Foundation Santa Fe, NM | $107,508,749 | $26,179,829 |
Houston Jewish Community Foundation Houston, TX | $219,913,135 | $24,014,170 |
El Paso Community Foundation El Paso, TX | $84,044,216 | $21,715,289 |
Dallas Jewish Community Foundation Dallas, TX | $257,889,567 | $62,022,140 |
Excellerate Foundation Rogers, AR | $1,422,117 | $18,582,776 |