Texas Higher Education Foundation
- Assets
- $2.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Austin, TX
- Founding
- 05/2002
- Data as of
- 08/2023
- EIN
- 74-3017895
Organization Overview
Texas Higher Education Foundation is located in Austin, TX. The organization was established in 2002. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Higher Education 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 08/2023, Texas Higher Education Foundation generated $1.0m 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 (7.1%) each year. All expenses for the organization totaled $1.7m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Texas Higher Education Foundation has awarded 105 individual grants totaling $1,620,871. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER AND FURTHER EVIDENCE-BASED INITIATIVES THAT POSITIVELY IMPACT POSTSECONDARY OUTCOMES IN TEXAS TOGETHER WITH THE TEXAS HIGHER EDUCATION COORDINATING BOARD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RAISES PRIVATE SECTOR CONTRIBUTIONS AND DISBURSES THE FUNDS IN SUPPORT OF THE TEXAS HIGHER EDUCATION COORDINATING BOARD'S PROGRAMS TO REACH THE GOALS OF THE STATE'S HIGHER EDUCATION STRATEGIC PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal Adams President And CEO | OfficerTrustee | 1.5 | $0 |
Darryl Heath Trustee | Trustee | 1 | $0 |
Fred Heldenfels Vice President | OfficerTrustee | 1 | $0 |
Woody Hunt Trustee | Trustee | 1 | $0 |
Robert Bobby Jenkins Jr Trustee | Trustee | 1 | $0 |
Elaine Mendoza Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alvarez & Marsal Data Infrastructure Design | 8/30/23 | $1,236,988 |
Vidlet Inc College & Career Advising Research And C | 8/30/23 | $263,731 |
Wpa Intelligence Community College Finance Research | 8/30/23 | $101,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $248,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $611,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $859,938 |
| Total Program Service Revenue | $124,667 |
| Investment income | $47,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,032,734 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $5,970 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,961 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,145 |
| 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 | $221,453 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,959 |
| All other expenses | $0 |
| Total functional expenses | $1,736,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,748 |
| Savings and temporary cash investments | $1,788,673 |
| Pledges and grants receivable | $205,063 |
| Accounts receivable, net | $13,640 |
| 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 | $5,750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,243,874 |
| Accounts payable and accrued expenses | $179,875 |
| Grants payable | $0 |
| Deferred revenue | $60,000 |
| 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 | $239,875 |
| Net assets without donor restrictions | $594,958 |
| Net assets with donor restrictions | $1,409,041 |
| 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 | $2,243,874 |
Grants Awarded
Over the last fiscal year, Texas Higher Education Foundation has awarded $466,749 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMO COMMUNITY COLLEGE DISTRICT PURPOSE: COVID-19 EMERGENCY AID | $25,000 |
AMARILLO COLLEGE PURPOSE: COVID-19 EMERGENCY AID | $20,000 |
AUSTIN COMMUNITY COLLEGE PURPOSE: COVID-19 EMERGENCY AID | $30,000 |
BLINN COLLEGE PURPOSE: COVID-19 EMERGENCY AID | $30,000 |
BRAZOSPORT COLLEGE PURPOSE: COVID-19 EMERGENCY AID | $10,000 |
COLLEGE OF THE MAINLAND COMMUNITY COLLEGE PURPOSE: COVID-19 EMERGENCY AID | $10,000 |