The George Foundation
- Assets
- $259.8m
- Revenue
- $17.7m
- Investments
- $187.9m
- Employees
- 0
- Location
- Richmond, TX
- Founding
- 09/1950
- Data as of
- 12/2023
- EIN
- 74-6043368
Organization Overview
The George Foundation is located in Richmond, 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. George 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 12/2023, George Foundation generated $17.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $26.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, George Foundation has awarded 275 individual grants totaling $40,646,484. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
THE GEORGE RANCH HISTORICAL PARK (GRHP) - OPERATING EXPENSESTHE GRHP IS AN OUTDOOR LIVING MUSEUM WHERE EVERY DAY, THE LEGENDS AND LEGACIES OF THOSE WHO SHAPED THIS PLACE COME TO LIFE. AUTHENTIC LOCATIONS, HISTORIC HOMES, COSTUMED PRESENTERS AND A REMARKABLE STORY OF DETERMINATION AND COURAGE SET THE STAGE FOR TREKKING THROUGH TEXAS HISTORY. PUBLIC TOURS AND AN EXTENSIVE LIST OF SCHOOL PROGRAMS ARE AVAILABLE.21,771 STUDENT GROUP ATTENDEES FROM 112 PUBLIC SCHOOLS; 283 HOMESCHOOL GROUPS; 87 PRIVATE/CHARTER GROUPS; 44 SUMMER GROUPS - 31 INDEPENDENT SCHOOL DISTRICTS, PLUS 75 PRIVATE/CHARTER SCHOOLS, AND 18 COUNTIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger E Adamson CEO | 40 | $433,750 | |
Mark Magee Trustee | 4 | $30,000 | |
James Condrey Trustee | 4 | $30,000 | |
Stephen J Ewbank Trustee | 4 | $30,000 | |
Thomas Randle Trustee | 4 | $30,000 | |
Ruthanne Mefford Trustee | 6 | $27,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rmb Capital Management Llc | 12/30/23 | $251,458 |
Lytle & Moore Llp | 12/30/23 | $92,289 |
Upstream Thinking Llc | 12/30/23 | $238,537 |
Westfall Constructors Ltd | 12/30/23 | $3,133,616 |
Paul Comstock Partners | 12/30/23 | $167,983 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $332 |
| Interest on Savings | $2,618,311 |
| Dividends & Interest | $2,697,202 |
| Net Rental Income | $539,763 |
| Net Gain on Sale of Assets | $7,569,313 |
| Capital Gain Net Income | $7,569,313 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,985,883 |
| Total Revenue | $17,706,886 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $581,350 |
| Other employee salaries and wages | $942,208 |
| Pension plans, employee benefits | $229,258 |
| Interest | $0 |
| Taxes | $544,418 |
| Depreciation | $548,520 |
| Occupancy | $86,436 |
| Travel, conferences, and meetings | $12,058 |
| Printing and publications | $0 |
| Other expenses | $3,041,498 |
| Total operating and administrative expenses | $7,583,499 |
| Contributions, gifts, grants paid | $19,018,722 |
| Total expenses and disbursements | $26,602,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400 |
| Savings and temporary cash investments | $6,676,220 |
| 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 | $25,318,746 |
| Investments—mortgage loans | $0 |
| Investments—other | $105,023,449 |
| Net Land, buildings, and equipment | $12,559,426 |
| Other assets | $27,353,126 |
| Total assets | $259,760,343 |
| 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 | $11,560 |
| Total liabilities | $11,560 |
Grants Awarded
Over the last fiscal year, The George Foundation has awarded $40,646,484 in support to 275 organizations.
| Grant Recipient | Amount |
|---|---|
ABIGAILS PLACE PURPOSE: SUPPORT DISPLACED SINGLE MOTHERS AND THEIR CHILDREN IN FBC BY PROVIDING HOUSING ASSISTANCE | $30,000 |
ACCESS HEALTH -FB FAMILY HEALTH CENTER PURPOSE: COVID-19 IT TECH ASSISTANCE | $10,000 |
ALLIANCE OF COMM ASSISTANCE MINISTRIES PURPOSE: SUPPORT OF COLLABORATIVE PROGRAMS IN FORT BEND COUNTY | $45,000 |
ALLIANCE OF COMM ASSISTANCE PURPOSE: COVID-19 IT TECH ASSISTANCE | $3,500 |
AID TO VICTIMS OF DOMESTIC ABUSE AVDA PURPOSE: COVID-19 IT TECH ASSISTANCE | $1,000 |
AN NISA HOPE CENTER PURPOSE: SUPPORT MISSION TO PROVIDE HOUSING AND SUPPORT TO WOMEN FLEEING DOMESTIC VIOLENCE AND THEIR CHILDREN | $10,000 |