Sumners Foundation
- Assets
- $69.2m
- Revenue
- $4.9m
- Investments
- $66.8m
- Employees
- 0
- Location
- Irving, TX
- Founding
- 04/1998
- Data as of
- 12/2022
- EIN
- 75-2734032
Organization Overview
Sumners Foundation is located in Irving, TX. The organization was established in 1998. According to its NTEE Classification (I20) the organization is classified as: Crime Prevention, under the broad grouping of Crime & Legal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sumners 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, Sumners Foundation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $4.9m during the year ending 12/2022. While expenses have increased by 3.4% 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 2013, Sumners Foundation has awarded 490 individual grants totaling $26,672,537. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David G Drumm Treasurer | 2 | $16,800 | |
Brant Martin Director | 2 | $10,000 | |
Jerry D Reis Chairman | 2 | $10,000 | |
Lon R Williams Vice Chairman | 2 | $26,000 | |
Scott M Higginbotham Director | 2 | $21,450 | |
William W Meadows Director | 2 | $10,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fayez Sarofim & Co | 12/30/13 | $103,096 |
Equity Metrix | 12/30/13 | $75,937 |
Equity Metrix | 12/30/13 | $0 |
Fayez Sarofim & Co | 12/30/13 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $59,438 |
| Interest on Savings | $1,427,018 |
| Dividends & Interest | $1,265,214 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $402,385 |
| Capital Gain Net Income | $402,385 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,760,595 |
| Total Revenue | $4,914,650 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $535,238 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $136,418 |
| Interest | $0 |
| Taxes | $273,111 |
| Depreciation | $112,907 |
| Occupancy | $67,852 |
| Travel, conferences, and meetings | $44,069 |
| Printing and publications | $3,595 |
| Other expenses | $970,922 |
| Total operating and administrative expenses | $2,236,216 |
| Contributions, gifts, grants paid | $2,689,297 |
| Total expenses and disbursements | $4,925,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,762 |
| Savings and temporary cash investments | $459,959 |
| Net Accounts receivable | $1,340,899 |
| 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 | $10,419 |
| Net Investments - land, buildings, equipment | $279,402 |
| Investments—mortgage loans | $0 |
| Investments—other | $27,963,884 |
| Net Land, buildings, and equipment | $28,903 |
| Other assets | $151,093 |
| Total assets | $69,238,256 |
| 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 | $513,119 |
| Total liabilities | $513,119 |
Grants Awarded
Over the last fiscal year, Sumners Foundation has awarded $2,022,171 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
BAYLOR UNIVERSITY PURPOSE: IENGAGE SUMMER CIVICS | $25,000 |
FUND FOR AMERICAN STUDIES PURPOSE: SCHOLARSHIPS TO ATTEND 2024 TFAS DC SUMMER PROGRAM | $43,600 |
HOWARD PAYNE UNIVERSITY PURPOSE: CAMPUS AND COMMUNITY | $4,000 |
TEXAS TRIBUNE PURPOSE: TEXAS TRIBUNE FESTIVAL | $100,000 |
TEXAS CHRISTIAN UNIVERSITY PURPOSE: INEGAGE & TCU WASHINGTON INTERNSHIP PROGRAM | $33,000 |
SCHREINER UNIVERSITY PURPOSE: SUMNERS SCHOLARSHIP PROGRAM | $8,000 |