Permian Basin Area Foundation
- Assets
- $251.1m
- Revenue
- $41.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Midland, TX
- Founding
- 09/1994
- Data as of
- 12/2022
- EIN
- 75-2295008
Organization Overview
Permian Basin Area Foundation is located in Midland, TX. The organization was established in 1994. 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 12/2022, Permian Basin Area Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permian Basin Area 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 12/2022, Permian Basin Area Foundation generated $41.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $22.8m during the year ending 12/2022. While expenses have increased by 12.2% 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 2016, Permian Basin Area Foundation has awarded 1,052 individual grants totaling $71,417,405. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PERMIAN BASIN AREA FOUNDATION FACILITATES THE CREATION OF PERMANENT CHARITABLE FUNDS IN PARTNERSHIP WITH MANY DONORS, AND PROVIDES GRANTS TO ADDRESS COMMUNITY NEEDS AND ENRICH THE QUALITY OF LIFE IN THE PERMIAN BASIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY CAPACITY BUILDING PROGRAMS: 471 GRANTS TO VARIOUS NON-PROFIT ORGANIZATIONS AND 387 INDIVIDUALS AWARDED SCHOLARSHIPS; BASED ON APPROVED GRANT AND SCHOLARSHIP APPLICATIONS.
COMMUNITY EDUCATION INCLUDES GENERAL OUTREACH TO ADVANCE THE MISSION OF THE FOUNDATION AND PHILANTHROPY IN WEST TEXAS. SUCH ACTIVITIES INCLUDE PROVIDING ADVICE TO NONPROFITS ON BEST MANAGEMENT PRACTICES AND CAPACITY BUILDING, MAKING REPORTS TO NONPROFIT BOARDS ABOUT ENDOWMENTS, AND CONDUCTING EDUCATIONAL EVENTS FOR NONPROFITS. DURING 2022 THE FOUNDATION CONDUCTED 31 EDUCATION MEETINGS AND/OR EVENTS WITH NONPROFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy Mccrary President And CEO | Officer | 40 | $278,433 |
Cyndi Vara Chief Financial Officer | Officer | 40 | $190,229 |
Sherri Heiting Education Programs Officer | 40 | $113,849 | |
Mara Hobbs Past Chair | OfficerTrustee | 1 | $0 |
Todd Meade Chair | OfficerTrustee | 1 | $0 |
Cal Hendrick Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rbc Wealth Management Investment Consultant And Management Services | 12/30/22 | $745,035 |
Mason Investment Advisory Services Investment Consultant And Management Services | 12/30/22 | $140,510 |
Ubs Financial Services Inc Investment Consultant And Management Services | 12/30/22 | $200,566 |
Wells Fargo Wealth Management Investment Consultant And Management | 12/30/22 | $118,676 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $692,488 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,359,543 |
| Noncash contributions included in lines 1a–1f | $10,745,945 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,052,031 |
| Total Program Service Revenue | $30,000 |
| Investment income | $5,193,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,110,497 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,672,353 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,134,480 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,842,419 |
| Grants and other assistance to domestic individuals. | $694,313 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $538,320 |
| Compensation of current officers, directors, key employees. | $408,362 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $645,725 |
| Pension plan accruals and contributions | $55,302 |
| Other employee benefits | $58,293 |
| Payroll taxes | $72,266 |
| Fees for services: Management | $134,975 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,751 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,166,116 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,086 |
| Office expenses | $24,283 |
| Information technology | $94,756 |
| Royalties | $0 |
| Occupancy | $43,301 |
| Travel | $12,449 |
| 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 | $154,940 |
| Insurance | $76,025 |
| All other expenses | $15,333 |
| Total functional expenses | $22,816,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $479,768 |
| Savings and temporary cash investments | $3,060,051 |
| Pledges and grants receivable | $465,909 |
| 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 | $18,367 |
| Net Land, buildings, and equipment | $4,057,773 |
| Investments—publicly traded securities | $227,089,749 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,936,586 |
| Total assets | $251,108,203 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $398,000 |
| 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 | $7,099,051 |
| Total liabilities | $7,497,051 |
| Net assets without donor restrictions | $232,217,626 |
| Net assets with donor restrictions | $11,393,526 |
| 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 | $251,108,203 |
Grants Awarded
Over the last fiscal year, Permian Basin Area Foundation has awarded $18,761,153 in support to 150 organizations.
| Grant Recipient | Amount |
|---|---|
29 ACRES PURPOSE: Human Services | $10,000 |
ADDYS HOPE ADOPTION AGENCY PURPOSE: Human Services | $20,000 |
AGAPE COUNSELING SERVICES PURPOSE: Health Mental Health | $50,000 |
ALAMO HEIGHTS BAPTIST CHURCH PURPOSE: Faith Based Ministries | $10,234 |
ALPINE CHRISTIAN SCHOOL PURPOSE: Educational | $100,000 |
ALPINE HUMANE SOCIETY PURPOSE: Animal Services | $30,000 |