Marshal Verne Ross Foundation Inc
- Assets
- $4.5m
- Revenue
- $732.5k
- Investments
- $4.4m
- Employees
- 0
- Location
- Bryan, TX
- Founding
- 03/1998
- Data as of
- 12/2022
- EIN
- 74-2864663
Organization Overview
Marshal Verne Ross Foundation Inc is located in Bryan, TX. The organization was established in 1998. 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. Marshal Verne Ross Foundation Inc 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, Marshal Verne Ross Foundation Inc generated $732.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $571.2k during the year ending 12/2022. While expenses have increased by 3.6% 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, Marshal Verne Ross Foundation Inc has awarded 111 individual grants totaling $2,510,030. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE (THE FOUNDATION'S ONLY PURPOSE IS MAKING GRANTS TO TAX EXEMPT ORGANIZATIONS.)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Frances Ross President | 2 | $0 | |
Margaret Purvis Vice President | 1 | $0 | |
Marsha Frances Ross Shaer Director | 1 | $0 | |
Amanda Lee Ross Versari Director | 1 | $2,500 | |
Woody Thompson Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $233,425 |
| Interest on Savings | $118 |
| Dividends & Interest | $122,552 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $48,767 |
| Capital Gain Net Income | $48,767 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $327,638 |
| Total Revenue | $732,500 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,657 |
| Depreciation | $49,146 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,737 |
| Printing and publications | $0 |
| Other expenses | $122 |
| Total operating and administrative expenses | $164,167 |
| Contributions, gifts, grants paid | $407,000 |
| Total expenses and disbursements | $571,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,493 |
| Savings and temporary cash investments | $100,976 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $27,525 |
| Total assets | $4,505,876 |
| 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, Marshal Verne Ross Foundation Inc has awarded $407,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
MIDLAND MEMORIAL FOUNDATION PURPOSE: HOSPITAL EQUIPMENT | $25,000 |
TEXAS TECH UNIVERSITY PURPOSE: SCHOLARSHIPS TO SCHOOLS OF NURSING, HEALTH PROFESSIONS, PA'S AND THIRD YEAR MEDICAL STUDENTS | $100,000 |
CROSSVIEW CHRISTIAN CAMP AND RETREA PURPOSE: CAMP SCHOLARSHIPS | $5,000 |
MIDLAND COLLEGE FOUNDATION PURPOSE: NURSING SCHOLARSHIPS | $12,000 |
BOYS AND GIRLS CLUB PURPOSE: SUPPORT FOR CLUB PROGRAMS | $50,000 |
TEXAS AM FOUNDATION PURPOSE: SCHOLARSHIPS FOR SCHOOL OF VETERINARY MEDICINE. | $20,000 |