Valero Energy Foundation
- Assets
- $18.1m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 07/1999
- Data as of
- 09/2023
- EIN
- 74-2904514
Organization Overview
Valero Energy Foundation is located in San Antonio, TX. The organization was established in 1999. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is the central organization for a national or regional group of organizations. Valero Energy 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 09/2023, Valero Energy Foundation generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $11.0m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE VALERO FOUNDATION COLLABORATES WITH NON-PROFIT PARTNERS ACROSS THE UNITED STATES TO FOSTER IMPROVED QUALITY OF LIFE AND CREATE MEASURABLE IMPACT WHERE UNMET NEEDS EXIST.
Describe the Organization's Program Activity:
THE VALERO ENERGY FOUNDATION RAISES FUNDS FOR THE PURPOSES OF MAKING CHARITABLE GRANTS TO NONPROFIT ORGANIZATIONS THAT SERVE, CHILDREN, ADULTS AND FAMILIES, IN THE AREAS OF FOOD INSECURITY AND BASIC NEEDS, VIRTUAL EDUCATION AND DIGITAL SUPPORT/LAPTOPS TO IMPROVE ACCESS FOR UNDERSERVED KIDS AND CHILDREN LIVING IN POVERTY, CHILD ABUSE AND MENTAL HEALTH SERVICES, AND IMPROVED HEALTH CARE SERVICES IN UNDERSERVED NEIGHBORHOODS WHERE VALERO ENERGY HAS MAJOR OPERATIONS. DURING THE TAX YEAR ENDED SEPTEMBER 30, 2023, 345 CHARITIES RECEIVED GRANTS FROM THE FOUNDATION.
THE SAFE FUND PROVIDES ASSISTANCE TO INDIVIDUALS WHO HAVE A SIGNIFICANT CHARITABLE NEED RESULTING FROM AN UNEXPECTED NATURAL DISASTER SUCH AS A HURRICANE, TORNADO OR FLOOD, OR ARE EXPERIENCING A DEMONSTRABLE FINANCIAL HARDSHIP RELATED TO A HOME FIRE, SERIOUS ILLNESS, OR DEATH IN THE FAMILY. GRANTS ARE AVAILABLE TO AFFECTED QUALIFYING CURRENT AND FUTURE EMPLOYEES OF VALERO ENERGY CORPORATION. THIS FISCAL YEAR, SEVERAL GRANTS WERE TARGETED FOR HURRICANE AND TORNADO RELIEF. DURING THE TAX YEAR ENDED SEPTEMBER 30, 2023, 15 INDIVIDUALS RECEIVED ASSISTANCE FROM THE SAFE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seymour Battle Senior Vice President | OfficerTrustee | 8 | $0 |
Laura J Vaccaro VP | OfficerTrustee | 5 | $0 |
Kari Waclawczyk Corporate Sponsorship Officer | Officer | 10 | $0 |
Joseph W Gorder CEO | OfficerTrustee | 1 | $0 |
Jason W Fraser Exec Vp/cfo | OfficerTrustee | 1 | $0 |
Harminder S Bhullar Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wasserman Events Llc Event Services | 9/29/23 | $1,934,841 |
Getz Transportation Solutions Llc Transportation | 9/29/23 | $634,431 |
Partytime Hdo Operations Llc Event Services | 9/29/23 | $596,153 |
William Morris Entertainment Entertainment | 9/29/23 | $850,000 |
C3 Presents Llc Promotion | 9/29/23 | $644,582 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $19,786,483 |
| Related organizations | $2,807,259 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,902 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,650,644 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $209,870 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,558,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,302,504 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,872,975 |
| Grants and other assistance to domestic individuals. | $103,361 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,256 |
| Fees for services: Accounting | $12,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,388 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,707 |
| Total functional expenses | $10,998,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,824,995 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,940,466 |
| Accounts receivable, net | $0 |
| 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 | $27,426 |
| Net Land, buildings, and equipment | $334,157 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,127,044 |
| Accounts payable and accrued expenses | $1,070,600 |
| Grants payable | $8,353,123 |
| Deferred revenue | $697,258 |
| 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 | $0 |
| Total liabilities | $10,120,981 |
| Net assets without donor restrictions | $3,995,460 |
| Net assets with donor restrictions | $4,010,603 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,127,044 |