Amarillo Area Foundation Inc
- Assets
- $153.2m
- Revenue
- $11.0m
- Investments
- $45.2m
- Employees
- 26
- Location
- Amarillo, TX
- Founding
- 02/1960
- Data as of
- 12/2020
- EIN
- 75-0978220
Organization Overview
Amarillo Area Foundation Inc is located in Amarillo, TX. The organization was established in 1960. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Amarillo Area Foundation Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amarillo Area Foundation Inc 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 12/2020, Amarillo Area Foundation Inc generated $11.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.7%) each year. All expenses for the organization totaled $13.8m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Amarillo Area Foundation Inc has awarded 1,040 individual grants totaling $56,727,349. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
A COMMUNITY FOUNDATION OPERATING AS A PUBLIC CHARITY, WITH A MISSION TO IMPROVE THE QUALITY OF LIFE IN THE TEXAS PANHANDLE THROUGH EFFECTIVE PHILANTHROPIC EFFORTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION PROGRAM - GRANT REQUEST APPLICATIONS ARE RECEIVED FROM CHARITABLE ORGANIZATIONS OF THE TEXAS PANHANDLE AREA. AFTER BEING RESEARCHED AND APPROVED, DISTRIBUTIONS ARE MADE.
SCHOLARSHIP PROGRAM - APPLICATIONS ARE RECEIVED FROM AREA HIGH SCHOOL AND COLLEGE STUDENTS. A COMMITTEE THEN REVIEWS THE APPLICATIONS AND BOARD APPROVED SCHOLARSHIPS ARE AWARDED ACCORDINGLY.
PROGRAM MANAGEMENT - STAFF TIME AND RESOURCES ARE USED FOR MANAGEMENT OF THE GRANT AND SCHOLARSHIP PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clay Stribling President & | Officer | 20 | $222,408 |
David Hurtt Asst.sec/vp | Officer | 20 | $113,420 |
Keralee Clay VP Of Operat | 20 | $111,086 | |
Lara Escobar VP Of Com.in | 20 | $103,420 | |
Paul Clark Chair | OfficerTrustee | 1 | $0 |
Vanessa Buzzard 1st Vice Cha | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $158,394 |
| Fundraising events | $0 |
| Related organizations | $2,057,100 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,183,210 |
| Noncash contributions included in lines 1a–1f | $147,942 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,398,704 |
| Total Program Service Revenue | $1,217,788 |
| Investment income | $1,150,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $86,963 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$687,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,027,021 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,621,990 |
| Grants and other assistance to domestic individuals. | $1,792,877 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $426,612 |
| Compensation of current officers, directors, key employees. | $170,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,378,909 |
| Pension plan accruals and contributions | $138,112 |
| Other employee benefits | $183,007 |
| Payroll taxes | $129,731 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,267 |
| Fees for services: Accounting | $71,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $287,485 |
| Fees for services: Other | $0 |
| Advertising and promotion | $75,662 |
| Office expenses | $58,392 |
| Information technology | $180,573 |
| Royalties | $0 |
| Occupancy | $181,683 |
| Travel | $452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,260 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,937 |
| Insurance | $26,343 |
| All other expenses | $0 |
| Total functional expenses | $13,755,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $490 |
| Savings and temporary cash investments | $4,588,564 |
| Pledges and grants receivable | $1,216,854 |
| Accounts receivable, net | $1,760,865 |
| 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 | $81,700 |
| Investments—publicly traded securities | $100,176,876 |
| Investments—other securities | $45,197,885 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $207,932 |
| Total assets | $153,231,166 |
| Accounts payable and accrued expenses | $1,069,355 |
| Grants payable | $346,487 |
| Deferred revenue | $2,900 |
| 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 | $14,423,919 |
| Total liabilities | $15,842,661 |
| Net assets without donor restrictions | $137,388,505 |
| Net assets with donor restrictions | $0 |
| 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 | $153,231,166 |
Grants Awarded
Over the last fiscal year, Amarillo Area Foundation Inc has awarded $9,581,432 in support to 183 organizations.
| Grant Recipient | Amount |
|---|---|
Canadian, TX PURPOSE: GENERAL SUPPORT | $463,937 |
Canyon, TX PURPOSE: CAPITAL SUPPORT | $404,323 |
Amarillo, TX PURPOSE: STUDENT AID | $323,790 |
Amarillo, TX PURPOSE: GENERAL SUPPORT | $292,429 |
Amarillo, TX PURPOSE: GENERAL SUPPORT | $271,177 |
Canyon, TX PURPOSE: GENERAL SUPPORT | $248,909 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Amarillo Area Foundation Inc has recieved totaling $28,990.
| Awarding Organization | Amount |
|---|---|
Dale & Joan Coleman Charitable Trust Amarillo, TX PURPOSE: FBO COLLINGSWORTH COUNTY HIST MUSEUM | $28,990 |
Endowment Analysis
| Beg. Balance | $60,912 |
| Earnings | $967 |
| Other Expense | $61,879 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
W W Caruth Jr Foundation Dallas, TX | $444,705,321 | $32,925,098 |
Dallas Center For The Performing Arts Foundation Inc Dallas, TX | $209,822,251 | $21,963,048 |
Houston Parks Board Houston, TX | $62,239,000 | $18,357,527 |
Fossil Foundation Richardson, TX | $2,468,423 | $514,916 |
Pratham Usa Houston, TX | $25,223,728 | $25,510,214 |
Lsu Health Sciences Foundation In Shreveport Shreveport, LA | $312,345,482 | $53,948,217 |
Amarillo Area Foundation Inc Amarillo, TX | $153,231,166 | $11,027,021 |
University Of North Texas Foundation Inc Denton, TX | $307,856,436 | $18,135,985 |
Soi Dog Houston, TX | $2,898,470 | $10,171,466 |
The Livestrong Foundation Austin, TX | $32,201,486 | $2,234,840 |
Adopt A Platoon San Benito, TX | $2,311,218 | $7,326,430 |
Emerge Center Inc Baton Rouge, LA | $1,893,812 | $1,088,912 |