Community Foundation Of West Texas
- Assets
- $69.6m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Lubbock, TX
- Founding
- 09/1980
- Data as of
- 12/2021
- EIN
- 75-1709180
Organization Overview
Community Foundation Of West Texas is located in Lubbock, TX. The organization was established in 1980. 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 12/2021, Community Foundation Of West Texas employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of West 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 12/2021, Community Foundation Of West Texas generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $4.7m during the year ending 12/2021. While expenses have increased by 7.8% 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 2015, Community Foundation Of West Texas has awarded 672 individual grants totaling $16,349,842. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COMMUNITY FOUNDATION OF WEST TEXAS ENHANCES THE LIVES OF ALL RESIDENTS OF THE TEXAS SOUTH PLAINS REGION, NOW AND FOR GENERATIONS TO COME, BY WORKING TOGETHER WITH OUR DONORS TO BUILD COMMUNITY ENDOWMENT, ADDRESS NEEDS THROUGH GRANTMAKING AND PROVIDE LEADERSHIP ON KEY COMMUNITY ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S LARGEST PROGRAM IS GRANTMAKING. APPROXIMATELY 17% OF GRANTS IN 2021 WERE DIRECTED BY THE BOARD OF DIRECTORS THROUGH FIELD OF INTEREST AND DISCRETIONARY FUNDS THAT ADDRESS VITAL COMMUNITY NEEDS IN THE SOUTH PLAINS REGION AND RESPOND TO EMERGING OPPORTUNITIES IN A WIDE RANGE OF CHARITABLE ORGANIZATIONS. FOCUS AREAS INCLUDE BASIC NEEDS AND SELF SUFFICIENCY, EDUCATION AND YOUTH, CIVIC, SOCIAL AND ECONOMIC DEVELOPMENT, AND ARTS AND CULTURE. 9% OF FUNDS DISTRIBUTED IN 2021 WERE FROM SCHOLARSHIP FUNDS. THE REMAINING 74% OF GRANTS AUTHORIZED BY THE BOARD OF DIRECTORS IN 2021 WERE FROM ENDOWED AND LIMITED-TERM DESIGNATED AND DONOR-ADVISED FUNDS.
THE ORGANIZATION IS COMMITTED TO COMMUNITY BETTERMENT AND GROWING REGIONAL PHILANTHROPY. IN 2021, GRANTS AWARDED BY THE COMMUNITY FOUNDATION AND ITS AFFILIATES IN PLAINVIEW/HALE COUNTY, POST/GARZA COUNTY, LEVELLAND/HOCKLEY COUNTY AND SLATON INCLUDED MULTIPLE COLLABORATIVE COMMUNITY PROJECTS SUCH AS THE SOUTH PLAINS COVID-19 RELIEF FUND, GIVING TUESDAY, AND THE TORNADO GATEWAY MEMORIAL PROJECT IN DOWNTOWN LUBBOCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Warren President | Officer | 40 | $116,475 |
Mont Mcclendon Chairman | OfficerTrustee | 1 | $0 |
Dwight Mcdonald Chair Elect | OfficerTrustee | 1 | $0 |
Greg Freeman Past Chairman | OfficerTrustee | 1 | $0 |
Sandy Martinez Secretary/treasurer | OfficerTrustee | 1 | $0 |
Marisa Scheef Grants Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $48,499 |
| Related organizations | $0 |
| Government grants | $87,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,739,799 |
| Noncash contributions included in lines 1a–1f | $455,379 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,875,798 |
| Total Program Service Revenue | $12,365 |
| Investment income | $1,057,713 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,431,569 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,377,445 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,205,509 |
| Grants and other assistance to domestic individuals. | $312,439 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,078 |
| Compensation of current officers, directors, key employees. | $51,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,504 |
| Pension plan accruals and contributions | $17,096 |
| Other employee benefits | $32,519 |
| Payroll taxes | $36,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,421 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $421,231 |
| Fees for services: Other | $4,400 |
| Advertising and promotion | $11,691 |
| Office expenses | $30,090 |
| Information technology | $20,844 |
| Royalties | $0 |
| Occupancy | $20,581 |
| Travel | $2,022 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,019 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,939 |
| Insurance | $4,532 |
| All other expenses | $3,121 |
| Total functional expenses | $4,677,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,622,063 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,750,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $526,585 |
| Investments—publicly traded securities | $64,648,425 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $69,554,926 |
| Accounts payable and accrued expenses | $22,610 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,218,954 |
| 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 | $3,241,564 |
| Net assets without donor restrictions | $66,310,616 |
| Net assets with donor restrictions | $2,746 |
| 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 | $69,554,926 |
Grants Awarded
Over the last fiscal year, Community Foundation Of West Texas has awarded $2,499,811 in support to 111 organizations.
| Grant Recipient | Amount |
|---|---|
Lubbock, TX PURPOSE: GATEWAY TORNADO MEMORIAL | $344,216 |
New York, NY PURPOSE: GENERAL SUPPORT | $125,517 |
ST ELIZABETH UNIVERSITY PARISH PURPOSE: GENERAL SUPPORT | $105,510 |
ABERNATHY UNITED CHURCH PURPOSE: REPLANT MINISTRY DESIGNATED ACCOUNT | $100,000 |
Lubbock, TX PURPOSE: SALARIES FOR STAFF EXPANSION, SPECIAL OLYMPICS, SUMMER FUN, GENERAL SUPPORT | $97,640 |
Lubbock, TX PURPOSE: GENERAL SUPPORT | $95,405 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Community Foundation Of West Texas has recieved totaling $132,496.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For The Greater Capital Region Inc Albany, NY PURPOSE: TO TRANSFER THE PRONET FUND FROM THE COMMUNITY FOUNDATION FOR THE GREATER CAPITAL REGION TO THE COMMUNITY FOUNDATION OF WEST TEXAS | $56,413 |
Globalgiving Foundation Inc Washington, DC PURPOSE: FUNDS RAISED BY GLOBALGIVING AND DISBURSED TO MEET DONOR EXPECTATIONS | $50,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR 2022 GIVING TUESDAY WEST | $15,000 |
Optimist International Lubbock, TX PURPOSE: CHARITABLE PURPOSES | $6,010 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR FUNDING INFORMATION LIBR | $2,995 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,000 |
Endowment Analysis
| Beg. Balance | $60,383,088 |
| Earnings | $7,719,386 |
| Admin Expense | $264,295 |
| Net Contributions | $2,900,154 |
| Other Expense | $907,023 |
| Grants | $3,517,948 |
| Ending Balance | $66,313,362 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Jewish Community Foundation Houston, TX | $219,913,135 | $24,014,170 |
El Paso Community Foundation El Paso, TX | $84,044,216 | $21,715,289 |
Dallas Jewish Community Foundation Dallas, TX | $257,889,567 | $62,022,140 |
Excellerate Foundation Rogers, AR | $1,422,117 | $18,582,776 |
Community Foundation Of Acadiana Lafayette, LA | $154,976,502 | $32,964,309 |
East Texas Communties Foundation Inc Tyler, TX | $137,619,988 | $26,912,059 |
Permian Basin Area Foundation Midland, TX | $279,717,835 | $33,055,231 |
Coastal Bend Community Foundation Corpus Christi, TX | $108,771,206 | $10,804,915 |
Community Foundation Of Abilene Abilene, TX | $138,667,981 | $15,269,593 |
Community Foundation Of North Louisiana Shreveport, LA | $154,534,783 | $16,289,106 |
Albuquerque Community Foundation Albuquerque, NM | $124,587,657 | $15,721,383 |
Wichita Falls Area Community Foundation Wichita Falls, TX | $80,507,148 | $8,576,098 |