Weatherford College Foundation Inc
- Assets
- $12.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Weatherford, TX
- Founding
- 10/1978
- Data as of
- 08/2021
- EIN
- 75-1593084
Organization Overview
Weatherford College Foundation Inc is located in Weatherford, TX. The organization was established in 1978. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weatherford College 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 08/2021, Weatherford College Foundation Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.4% each year . All expenses for the organization totaled $949.9k during the year ending 08/2021. While expenses have increased by 21.1% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT WEATHERFORD COLLEGE AND ITS STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS ARE PROVIDED FOR STUDENTS AT WEATHERFORD COLLEGE.
TRANSFER OF FUNDRAISING GIFTS TO CONTRIBUTE TO WEATHERFORD COLLEGE'S CAPITAL IMPROVEMENTS.
SCHOLARSHIPS ARE PROVIDED FOR STUDENTS AT WEATHERFORD COLLEGE.
TRANSFER OF FUNDRAISING GIFTS TO CONTRIBUTE TO WEATHERFORD COLLEGE'S CAPITAL IMPROVEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Baker Executive Di | OfficerTrustee | 40 | $0 |
Brent Gough Treasurer | OfficerTrustee | 2 | $0 |
Jacy Guynes Secretary | OfficerTrustee | 2 | $0 |
Bob Glenn President | OfficerTrustee | 2 | $0 |
Nancy Stuart Vice-Preside | OfficerTrustee | 2 | $0 |
Dr Tod Farmer Wc President | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,203,540 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,203,540 |
| Total Program Service Revenue | $0 |
| Investment income | $204,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $606,677 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,014,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $800,806 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $10,044 |
| Total functional expenses | $949,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,587 |
| Savings and temporary cash investments | $2,475,806 |
| Pledges and grants receivable | $273,693 |
| Accounts receivable, net | $6,486 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,495 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,522,938 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $166,432 |
| Total assets | $12,734,437 |
| Accounts payable and accrued expenses | $3,880 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $3,880 |
| Net assets without donor restrictions | $451,884 |
| Net assets with donor restrictions | $12,278,673 |
| 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 | $12,734,437 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Weatherford College Foundation Inc has recieved totaling $1,002,063.
| Awarding Organization | Amount |
|---|---|
Wiggs Family Foundation Wilmington, DE PURPOSE: NURSING SCHOOL FUND | $1,000,000 |
Eidson Family Charitable Foundation Weatherford, TX PURPOSE: GENERAL CHARITABLE PURPOSES | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $63 |
Endowment Analysis
| Beg. Balance | $7,441,822 |
| Earnings | $951,424 |
| Net Contributions | $153,945 |
| Other Expense | $374,455 |
| Ending Balance | $8,172,736 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hendrix College Conway, AR | $318,329,586 | $98,419,951 |
Oklahoma Baptist University Shawnee, OK | $289,242,729 | $80,964,114 |
Oklahoma Christian University Inc Oklahoma City, OK | $129,228,959 | $77,254,883 |
Ouachita Baptist University Arkadelphia, AR | $209,281,744 | $71,056,315 |
Wayland Baptist University Plainview, TX | $171,784,780 | $76,328,072 |
John Brown University Siloam Springs, AR | $239,506,733 | $75,339,651 |
Texas Lutheran University Seguin, TX | $175,887,975 | $71,493,316 |
Schreiner University Kerrville, TX | $168,371,925 | $56,783,840 |
Lubbock Christian University Lubbock, TX | $106,659,922 | $54,957,813 |
Mcmurry University Abilene, TX | $155,891,753 | $53,294,386 |
Dillard University New Orleans, LA | $290,476,609 | $59,120,673 |
Lyon College Batesville, AR | $134,360,694 | $34,275,899 |