Fondren Foundation
- Assets
- $199.2m
- Revenue
- $10.0m
- Investments
- $197.0m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 04/1950
- Data as of
- 10/2023
- EIN
- 74-6042565
Organization Overview
Fondren Foundation is located in Houston, TX. The organization was established in 1950. 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. Fondren 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 10/2023, Fondren Foundation generated $10.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $12.5m during the year ending 10/2023. While expenses have increased by 5.0% per year over the past 4 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 Program Activity:
Part 3 - Line 4a
N/A-THE FOUNDATION ONLY MAKES GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Fondren Chrmn,admin | 0 | $0 | |
David M Underwood Jr Secr,admin C | 0 | $0 | |
Harper B Trammell Admin Comm T | 0 | $0 | |
Ann Gordon Trammell Trustee | 0 | $0 | |
Lynda Knapp Underwood Trustee | 0 | $0 | |
R Edwin Allday Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Partners Capital Investment Group | 10/30/23 | $1,038,364 |
Jp Morgan Chase Bank | 10/30/23 | $200,000 |
Silchester International Investors | 10/30/23 | $59,277 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $147,372 |
| Dividends & Interest | $3,579,901 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,308,766 |
| Capital Gain Net Income | $6,290,310 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$7,495 |
| Total Revenue | $10,028,544 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $33,945 |
| Taxes | $195,439 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $31,422 |
| Printing and publications | $0 |
| Other expenses | $1,555 |
| Total operating and administrative expenses | $1,738,774 |
| Contributions, gifts, grants paid | $10,800,000 |
| Total expenses and disbursements | $12,538,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104 |
| Savings and temporary cash investments | $2,138,918 |
| 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 | $72,454 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $141,167,239 |
| Net Land, buildings, and equipment | $4 |
| Other assets | $0 |
| Total assets | $199,167,011 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $17,359,694 |
| 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 | $17,359,694 |