Communities Foundation Of Texas
- Assets
- $891.5m
- Revenue
- $274.4m
- Investments
- $516.0m
- Employees
- 170
- Location
- Dallas, TX
- Founding
- 03/1961
- Data as of
- 06/2022
- EIN
- 75-0964565
Organization Overview
Communities Foundation Of Texas is located in Dallas, TX. The organization was established in 1961. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Communities Foundation Of Texas employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Communities 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 06/2022, Communities Foundation Of Texas generated $274.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $207.4m during the year ending 06/2022. While expenses have increased by 6.4% per year over the past 7 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.
Since 2016, Communities Foundation Of Texas has awarded 20,890 individual grants totaling $823,809,695. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS COMMITTED TO SERVING CHARITABLE NEEDS BOTH DOMESTICALLY AND ABROAD THROUGH CHARITABLE GRANTS AND SERVICES AT THE DISCRETION OF THE BOARD OF TRUSTEES.
Describe the Organization's Program Activity:
THE FOUNDATION ACHIEVED ITS PRIMARY PURPOSE THROUGH NUMEROUS CHARITABLE GRANTS AND THE PROVISION OF CHARITABLE SERVICES TO SUPPORT CHARITABLE NEEDS BOTH DOMESTICALLY AND ABROAD. SEE THE ATTACHED SCHEDULE F AND SCHEDULE I.
EDUCATE TEXAS, A PUBLIC-PRIVATE INITIATIVE OF COMMUNITIES FOUNDATION OF TEXAS, IS AN INNOVATIVE ALLIANCE OF PUBLIC AND PRIVATE GROUPS THAT SHARE A COMMON GOAL IMPROVING THE PUBLIC EDUCATION SYSTEM SO THAT EVERY TEXAS STUDENT IS PREPARED FOR SUCCESS IN SCHOOL, IN THE WORKFORCE, AND IN LIFE.
NORTH TEXAS GIVING DAY, LAUNCHED IN 2009 BY CFT, IS THE LARGEST GIVING DAY IN THE NATION. IT IS AN ONLINE EVENT DEDICATED TO RAISING MONEY FOR NORTH TEXAS NONPROFITS. BONUS FUNDS AND PRIZES ARE PROVIDED BY CFT AND OTHER LOCAL FOUNDATIONS, CORPORATIONS AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David J Scullin President And CEO | Officer | 40 | $539,979 |
Elizabeth W Bull Sr Vp CFO & Admn Officer (thru March 2022) | Officer | 40 | $368,067 |
John J Fitzpatrick Executive Director - Educate Texas | Officer | 40 | $333,388 |
George Tang Managing Director, Educate Texas | Officer | 40 | $289,981 |
Monica Egert Smith Sr Vp Chief Giving & Cmty Impact Officer | Officer | 40 | $277,057 |
Sarah C Nelson Chief Philanthropy Officer (thru Jan 2022) | Officer | 40 | $256,083 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Learning Agenda Inc Consulting | 6/29/22 | $868,009 |
Epam Systems Inc Consulting | 6/29/22 | $337,550 |
The David L Aldridge Company Inc Dba A Technology Support | 6/29/22 | $318,928 |
Civicore Llc Technology Provider | 6/29/22 | $1,029,411 |
Strategic Focus Llc Consulting | 6/29/22 | $771,306 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $33,989,900 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $205,056,379 |
| Noncash contributions included in lines 1a–1f | $66,134,086 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $239,046,279 |
| Total Program Service Revenue | $6,135,984 |
| Investment income | $4,248,884 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $345,725 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,852,787 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,423,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $169,862,148 |
| Grants and other assistance to domestic individuals. | $2,049,464 |
| Grants and other assistance to Foreign Orgs/Individuals | $254,471 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,962,111 |
| Compensation of current officers, directors, key employees. | $1,088,826 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,297,315 |
| Pension plan accruals and contributions | $844,258 |
| Other employee benefits | $1,484,577 |
| Payroll taxes | $961,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $133,618 |
| Fees for services: Accounting | $115,307 |
| Fees for services: Lobbying | $31,592 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $304,685 |
| Fees for services: Other | $9,417,409 |
| Advertising and promotion | $629,473 |
| Office expenses | $377,467 |
| Information technology | $506,542 |
| Royalties | $0 |
| Occupancy | $905,394 |
| Travel | $344,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $950,701 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,398,917 |
| Insurance | $201,062 |
| All other expenses | $242,500 |
| Total functional expenses | $207,437,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,638,342 |
| Savings and temporary cash investments | $9,061,537 |
| Pledges and grants receivable | $47,199,202 |
| Accounts receivable, net | $1,471,436 |
| 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 | $0 |
| Net Land, buildings, and equipment | $19,758,378 |
| Investments—publicly traded securities | $285,549,020 |
| Investments—other securities | $515,990,383 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,802,008 |
| Total assets | $891,470,306 |
| Accounts payable and accrued expenses | $2,629,999 |
| Grants payable | $28,960,423 |
| Deferred revenue | $197,061 |
| 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 | $66,730,014 |
| Total liabilities | $98,517,497 |
| Net assets without donor restrictions | $508,421,417 |
| Net assets with donor restrictions | $284,531,392 |
| 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 | $891,470,306 |
Grants Awarded
Over the last fiscal year, Communities Foundation Of Texas has awarded $165,633,158 in support to 2,242 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR SOUTHERN GATEWAY PUBLIC GREEN FOUNDATION FOR SOUTHERN GATEWAY PARK AND FOR GENERAL SUPPORT | $4,940,919 |
Atlanta, GA PURPOSE: THIS GRANT IS DESIGNATED FOR THE CONSTRUCTION OF A CHAPEL IN THE DALLAS SOCIAL SERVICE CENTER PLAZA AND FOR GENERAL SUPPORT | $3,145,908 |
Midland, TX PURPOSE: THIS GRANT IS DESIGNATED FOR THE PREK ACADEMY AND CENTER FOR TEACHING EXCELLENCE, SCHOLARSHIPS AND GENERAL SUPPORT. | $3,063,836 |
THE UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER DALLAS PURPOSE: THIS GRANT IS DESIGNATED FOR BASIC RESEARCH IN MOLECULAR CARDIOLOGY, THE DISTINGUISHED CHAIR IN OPHTHALMOLOGY AND GENERAL SUPPORT. | $3,006,546 |
Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $2,884,088 |
Midland, TX PURPOSE: THIS GRANT IS DESIGNATED FOR THE MIDLAND DOWNTOWN PARK CONSERVANCY ENDOWMENT FUND. NO BENEFITS TO BE RECEIVED FROM THIS GRANT. | $2,500,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Communities Foundation Of Texas has recieved totaling $1,228,698.
| Awarding Organization | Amount |
|---|---|
Constantin Foundation Inc Dallas, TX PURPOSE: TOWARDS CONSTANTIN FOUNDATION FUND FOR OUR CALLING | $500,000 |
Constantin Foundation Inc Dallas, TX PURPOSE: TOWARDS CONSTANTIN FOUNDATION FUND FOR FOREST FORWARD | $500,000 |
Addy Foundation Dallas, TX PURPOSE: CIVIC/COMMUNITY ENGAGEMENT | $165,000 |
Eclat Foundation Murphy, TX PURPOSE: SCHOLARSHIP TO NEEDY STUDENTS. | $63,000 |
Fordan Family Foundation Cedar Hill, TX PURPOSE: SUPPORT | $410 |
M B Ahmed Family Foundation Plano, TX PURPOSE: GENERAL | $288 |
Endowment Analysis
| Beg. Balance | $317,159,000 |
| Earnings | -$34,668,000 |
| Net Contributions | $21,709,000 |
| Other Expense | $4,178,000 |
| Grants | $4,882,000 |
| Ending Balance | $295,140,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communities Foundation Of Texas Dallas, TX | $891,470,306 | $274,423,452 |
Greater Houston Community Foundation Houston, TX | $1,277,788,508 | $567,166,923 |
Tulsa Community Foundation Tulsa, OK | $812,010,286 | $307,738,379 |
Northeast Arkansas Clinic Char Foundation Inc Jonesboro, AR | $30,841,351 | $111,453,747 |
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX | $387,395,879 | $137,312,103 |
Austin Community Foundation Austin, TX | $433,764,301 | $88,798,773 |
San Antonio Area Foundation San Antonio, TX | $587,345,748 | $192,937,536 |
The Greater New Orleans Foundation New Orleans, LA | $406,748,750 | $50,799,913 |
Arkansas Community Foundation Inc Little Rock, AR | $560,797,819 | $112,679,416 |
Oklahoma City Community Foundation Inc Oklahoma City, OK | $855,000,248 | $159,496,642 |
Community Foundation Of North Texas Fort Worth, TX | $520,525,998 | $72,575,782 |
Baton Rouge Area Foundation Baton Rouge, LA | $293,247,071 | $35,030,558 |