Marshall Formby Foundation
- Assets
- $1.2m
- Revenue
- $76.5k
- Investments
- $888.7k
- Employees
- 0
- Location
- Kerrville, TX
- Founding
- 11/1987
- Data as of
- 12/2023
- EIN
- 75-2156614
Organization Overview
Marshall Formby Foundation is located in Kerrville, TX. The organization was established in 1987. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall Formby 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 12/2023, Marshall Formby Foundation generated $76.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $53.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Marshall Formby Foundation has awarded 28 individual grants totaling $424,000. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES CONTRIBUTIONS TO PRESELECTED CHARITABLE ORGANIZATIONS. THE FOUNDATION DISTRIBUTES ITS NET INVESTMENT INCOME FOR RELIGIOUS AND EDUCATIONAL PURPOSES. THE FOUNDATION DOES NOT PARTICIPATE IN ANY FUND RAISING ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Hamilton Trustee | 0 | $0 | |
Danny Glenn Trustee | 2 | $0 | |
Jeffrey Tunnell Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10,512 |
| Dividends & Interest | $41,393 |
| Net Rental Income | $22,255 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $76,473 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,313 |
| Total operating and administrative expenses | $13,475 |
| Contributions, gifts, grants paid | $40,000 |
| Total expenses and disbursements | $53,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,561 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $152,528 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,243,799 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Marshall Formby Foundation has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HALE CO HOSPITAL AUTHORITY PURPOSE: HOSPITAL EQUIPMENT | $10,000 |
PLAINVIEW METHODIST CHURCH PURPOSE: CHILD DEVELOPMENT | $10,000 |
Y M C A PURPOSE: CAPITAL PROJECTS FUND | $10,000 |
TEXAS TECH FOUNDATION PURPOSE: HIGHER EDUCATION | $10,000 |