The Powell Foundation
- Assets
- $372.8m
- Revenue
- $35.5m
- Investments
- $369.3m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 74-6104592
Organization Overview
The Powell Foundation is located in Houston, TX. The organization was established in 1999. 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. Powell 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 12/2022, Powell Foundation generated $35.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.1%) each year. All expenses for the organization totaled $22.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Powell Foundation has awarded 581 individual grants totaling $38,262,205. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIBBS-POWELL HOUSE: PRESERVING A LOCAL HISTORIC LANDMARK, PROVIDING OPPORTUNITIES FOR EDUCATION REGARDING WALKER COUNTY'S HISTORY, AND MAKING THE LANDMARK OPEN TO THE PUBLIC. THE GIBBS-POWELL HOUSE IS LEASED TO WALKER COUNTY AND IS MANAGED AND OPERATED BY THE WALKER COUNTY HISTORICAL COMMISSION AS THE GIBBS-POWELL HOUSE AND WALKER COUNTY MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Osborne Valdez Board President/director | 20 | $82,068 | |
Harvin C Moore IV Treasurer/director | 2 | $0 | |
Ben H Powell V Vp/assistant Treasurer/director | 2 | $0 | |
Charles F Caldwell Secretary/director | 3 | $0 | |
Terry Bruner Director | 1 | $0 | |
Marian M Casey Director | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fayez Sarofim & Co | 12/30/21 | $727,671 |
Denise Smith Consulting Llc | 12/30/21 | $78,930 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $470,000 |
| Interest on Savings | $41,001 |
| Dividends & Interest | $6,486,330 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,542,903 |
| Capital Gain Net Income | $28,542,903 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $35,540,234 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $82,068 |
| Other employee salaries and wages | $704,427 |
| Pension plans, employee benefits | $242,075 |
| Interest | $0 |
| Taxes | $585,401 |
| Depreciation | $0 |
| Occupancy | $105,062 |
| Travel, conferences, and meetings | $65,523 |
| Printing and publications | $0 |
| Other expenses | $50,243 |
| Total operating and administrative expenses | $2,660,144 |
| Contributions, gifts, grants paid | $19,984,422 |
| Total expenses and disbursements | $22,644,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $780,477 |
| Savings and temporary cash investments | $2,142,613 |
| 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 | $36,525 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $470,000 |
| Other assets | $0 |
| Total assets | $372,755,906 |
| Accounts payable and accrued expenses | $46,470 |
| Grants payable | $1,120,000 |
| 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 | $1,166,470 |
Grants Awarded
Over the last fiscal year, The Powell Foundation has awarded $20,734,422 in support to 305 organizations.
| Grant Recipient | Amount |
|---|---|
COLLABORATIVE FOR CHILDREN PURPOSE: EARLY CHILDHOOD DEVELOPMENT AND EDUCATION: QUALITY EARLY LEARNING CENTERS AND PROVIDERS | $1,016,916 |
UTEACH INSTITUTE CO UNIVERSITY OF TEXAS FOUNDATION PURPOSE: QUALITY K-12 PUBLIC SCHOOLS: EXCELLENT EDUCATOR INITIATIVES | $802,166 |
AVANCE INC PURPOSE: EARLY CHILDHOOD DEVELOPMENT AND EDUCATION: PARENT, FAMILY, AND CAREGIVER SUPPORT | $974,456 |
AUSTIN PARKS FOUNDATION PURPOSE: CONSERVATION: COMMUNITY ACCESS TO PARKS AND URBAN GREENSPACES | $503,085 |
HILL COUNTRY CONSERVANCY PURPOSE: CONSERVATION: ENVIRONMENTAL PROTECTION EFFORTS | $491,527 |
CENTER FOR TRANSFORMING ALTERNATIVE PREPARATION PATHWAYS PURPOSE: QUALITY K-12 PUBLIC SCHOOLS: EXCELLENT EDUCATOR INITIATIVES | $400,000 |