Amarillo Area Foundation Inc
- Assets
- $152.6m
- Revenue
- $28.3m
- Investments
- $16.8m
- Employees
- 26
- Location
- Amarillo, TX
- Founding
- 02/1960
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Amarillo Area Foundation Inc generated $28.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $20.5m during the year ending 12/2022. While expenses have increased by 0.9% per year over the past 8 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 2014, Amarillo Area Foundation Inc has awarded 1,243 individual grants totaling $70,821,677. 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
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:
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 |
|---|---|---|---|
Vanessa Buzzard Chair | OfficerTrustee | 1 | $0 |
David Prescott 1st Vice Chair | OfficerTrustee | 1 | $0 |
Cheri DE Jong 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Sharon White Secretary | OfficerTrustee | 1 | $0 |
Bill Britain Treasurer | OfficerTrustee | 1 | $0 |
Paul Clark Immediate Past Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chuck Jacobson Construction Construction | 12/30/22 | $207,710 |
Amarillo Place One Partners Ltd Rents | 12/30/22 | $205,650 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $70,850 |
| Fundraising events | $0 |
| Related organizations | $1,014,052 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,427,834 |
| Noncash contributions included in lines 1a–1f | $778,725 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,512,736 |
| Total Program Service Revenue | $1,328,610 |
| Investment income | $2,170,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $263,144 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,027,866 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,347,458 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,857,366 |
| Grants and other assistance to domestic individuals. | $1,814,373 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $430,585 |
| Compensation of current officers, directors, key employees. | $176,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,462,393 |
| Pension plan accruals and contributions | $145,595 |
| Other employee benefits | $205,864 |
| Payroll taxes | $135,308 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,241 |
| Fees for services: Accounting | $81,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $300,180 |
| Fees for services: Other | $0 |
| Advertising and promotion | $157,101 |
| Office expenses | $126,469 |
| Information technology | $205,989 |
| Royalties | $0 |
| Occupancy | $197,346 |
| Travel | $11,206 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,706 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,308 |
| Insurance | $43,236 |
| All other expenses | $0 |
| Total functional expenses | $20,512,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,179,422 |
| Pledges and grants receivable | $44,500 |
| Accounts receivable, net | $1,927,623 |
| 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 | $86,692 |
| Investments—publicly traded securities | $125,433,849 |
| Investments—other securities | $16,796,866 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,240 |
| Total assets | $152,569,192 |
| Accounts payable and accrued expenses | $844,429 |
| Grants payable | $578,301 |
| Deferred revenue | $2,300 |
| 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 | $12,760,233 |
| Total liabilities | $14,185,263 |
| Net assets without donor restrictions | $138,383,929 |
| 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 | $152,569,192 |
Grants Awarded
Over the last fiscal year, Amarillo Area Foundation Inc has awarded $14,094,328 in support to 203 organizations.
| Grant Recipient | Amount |
|---|---|
100 CLUB OF THE TEXAS PANHANDLE PURPOSE: CAPITAL SUPPORT | $79,182 |
7 STAR THERAPEUTIC RIDING CENTER PURPOSE: GENERAL SUPPORT | $14,351 |
AMARILLO AREA CASA PURPOSE: PROGRAM SUPPORT | $92,130 |
ALEX O'BRIEN TENNIS FOUNDATION PURPOSE: PROGRAM SUPPORT | $9,503 |
AMARILLO ART INSTITUTE PURPOSE: PROGRAM SUPPORT | $53,960 |
AMARILLO BOTANICAL GARDENS PURPOSE: GENERAL SUPPORT | $37,034 |