Robert G Carr & Nona K Carr Scholarship Foundation
- Assets
- $175.0m
- Revenue
- $4.2m
- Investments
- $156.0m
- Employees
- 4
- Location
- San Angelo, TX
- Founding
- 10/1979
- Data as of
- 08/2021
- EIN
- 75-1658292
Organization Overview
Robert G Carr & Nona K Carr Scholarship Foundation is located in San Angelo, TX. The organization was established in 1979. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 08/2021, Robert G Carr & Nona K Carr Scholarship Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Robert G Carr & Nona K Carr Scholarship 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 08/2021, Robert G Carr & Nona K Carr Scholarship Foundation generated $4.2m 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 (13.5%) each year. All expenses for the organization totaled $10.8m during the year ending 08/2021. 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 PROVIDE ACADEMIC SCHOLARSHIPS FOR NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP-PAYMENTS WERE MADE INTO A DESIGNATED FUND OF ANGELO STATE UNIVERSITY FROM WHICH ACADEMIC SCHOLARSHIPS ARE AWARDED TO NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY. DURING THE 2020-2021 TAX YEAR, THE FOUNDATION TRANSFERRED $10,255,201 TO THE UNIVERSITY TO BE USED FOR SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Candice Upton Brewer Director Of Operations | Officer | 40 | $83,091 |
Mark Griffin Chairman | OfficerTrustee | 1 | $0 |
Dusty Womble Vice Chairman | OfficerTrustee | 1 | $0 |
John Walker Trustee | Trustee | 1 | $0 |
John Steinmetz Trustee | Trustee | 1 | $0 |
Ginger Kerrick Davis Trustee | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $328,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,145,684 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,297,340 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,176,344 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,255,201 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $96,821 |
| Compensation of current officers, directors, key employees. | $96,821 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,673 |
| Pension plan accruals and contributions | $3,298 |
| Other employee benefits | $33,144 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,199 |
| Fees for services: Accounting | $19,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $115,554 |
| Fees for services: Other | $7,900 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,183 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,918 |
| 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 | $385 |
| Total functional expenses | $10,762,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $74,876 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $332,732 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $156,029,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,578,090 |
| Total assets | $175,014,798 |
| Accounts payable and accrued expenses | $33,524 |
| Grants payable | $0 |
| Deferred revenue | $156,994 |
| 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 | $647,147 |
| Total liabilities | $837,665 |
| Net assets without donor restrictions | $64,093 |
| Net assets with donor restrictions | $174,113,040 |
| 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 | $175,014,798 |
Endowment Analysis
| Beg. Balance | $125,989,583 |
| Earnings | $39,084,064 |
| Admin Expense | $264,434 |
| Grants | $9,255,201 |
| Ending Balance | $155,554,012 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |