Douglass Foundation
- Assets
- $10.5m
- Revenue
- $1.1m
- Investments
- $7.4m
- Employees
- 0
- Location
- Richmond, TX
- Founding
- 10/1982
- Data as of
- 12/2021
- EIN
- 74-2239830
Organization Overview
Douglass Foundation is located in Richmond, TX. The organization was established in 1982. 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. Douglass 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, Douglass Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 44.4% each year . All expenses for the organization totaled $777.5k during the year ending 12/2021. While expenses have increased by 15.5% per year over the past 5 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, Douglass Foundation has awarded 67 individual grants totaling $2,766,800. 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
ARTWORK OWNED BY THE FOUNDATION WAS LOANED TO VARIOUS PUBLIC MUSEUMS FOR EXHIBITION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah K Samuel Secretary & Director | 8 | $13,000 | |
Laurel B Douglass President & Director | 0 | $13,000 | |
James Douglass Director | 0 | $2,000 | |
Marylee D Browning Director | 0 | $3,000 | |
Stanley L Blend Vice President | 0 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $97,600 |
| Interest on Savings | $0 |
| Dividends & Interest | $177,993 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $810,663 |
| Capital Gain Net Income | $812,934 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,086,256 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $3,184 |
| Taxes | $12,248 |
| Depreciation | $0 |
| Occupancy | $11,100 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $104,168 |
| Total operating and administrative expenses | $178,050 |
| Contributions, gifts, grants paid | $599,434 |
| Total expenses and disbursements | $777,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $905,549 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $130 |
| 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 | $21,192 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,150,491 |
| Total assets | $10,494,689 |
| 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 | $10,000 |
| Total liabilities | $10,000 |
Grants Awarded
Over the last fiscal year, Douglass Foundation has awarded $341,967 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EPISCOPAL DIOCESE OF WEST TEXAS PURPOSE: UNRESTRICTED GIFT | $105,049 |
TEXAS BIOMEDICAL RESEARCH INSTITUTE PURPOSE: PRE-DOC PROGRAM | $85,477 |
MCNAY ART MUSEUM PURPOSE: GRADUATE LEVEL INTERNSHIP | $54,017 |
SMITHSONIAN AMERICAN ART MUSEUM PURPOSE: FELLOWSHIP OF AMERICAN ART | $97,424 |