Scottish Rite Foundation Of Texas
- Assets
- $2.6m
- Revenue
- $181.3k
- Investments
- $1.2m
- Employees
- 9
- Location
- Waco, TX
- Founding
- 01/1957
- Data as of
- 12/2023
- EIN
- 74-6042276
Organization Overview
Scottish Rite Foundation Of Texas is located in Waco, TX. The organization was established in 1957. According to its NTEE Classification (A53) the organization is classified as: Folk Arts Museums<i>(Draft Code - not for internal IRS use)</i>, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Scottish Rite Foundation Of Texas employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scottish Rite Foundation Of Texas 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 12/2023, Scottish Rite Foundation Of Texas generated $181.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $424.7k during the year ending 12/2023. While expenses have increased by 1.6% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADMINISTER THE OPERATIONS OF THE LEE LOCKWOOD SCOTTISH RITE LIBRARY AND MUSEUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLE PURPOSE OF THE SCOTTISH RITE FOUNDATION OF TEXAS IS TO ADMINISTER THE OPERATIONS OF THE LEE LOCKWOOD SCOTTISH RITE LIBRARY AND MUSEUM. THE LIBRARY AND MUSEUM COLLECTS, CATALOGS, AND PRESERVES FOR THE USE AND ENLIGHTENMENT OF PRESENT AND FUTURE GENERATIONS THE HISTORY OF FREEMASONRY IN TEXAS, AS WELL AS NATIONALLY AND INTERNATIONALLY.
PROVIDED FUNDS FOR SCHOLARSHIP FOR LOCAL YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Waldrop Secretary | 0 | $0 | |
Sam Cryan Chairman | 0 | $0 | |
Cameron M Talbert III Director | 0 | $0 | |
Randy H Riggs Director | 0 | $0 | |
Clint Detlefsen Director | 0 | $0 | |
Lee Goble Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $80,941 |
| Interest on Savings | $0 |
| Dividends & Interest | $42,452 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$61,971 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $119,849 |
| Total Revenue | $181,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $47,690 |
| Pension plans, employee benefits | $5,624 |
| Interest | $38,751 |
| Taxes | $26 |
| Depreciation | $36,222 |
| Occupancy | $46,245 |
| Travel, conferences, and meetings | $2,345 |
| Printing and publications | $0 |
| Other expenses | $246,605 |
| Total operating and administrative expenses | $424,658 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $424,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,329 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $21,212 |
| 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 | $1,182,832 |
| Net Land, buildings, and equipment | $1,325,147 |
| Other assets | $44,750 |
| Total assets | $2,635,270 |
| Accounts payable and accrued expenses | $8,112 |
| Grants payable | $0 |
| Deferred revenue | $2,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $806,177 |
| Total liabilities | $816,289 |