Hext Family Foundation
- Assets
- $1.7m
- Revenue
- $46.3k
- Investments
- $1.2m
- Employees
- 0
- Location
- Midland, TX
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 75-2754667
Organization Overview
Hext Family Foundation is located in Midland, TX. The organization was established in 1998. 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. Hext Family 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, Hext Family Foundation generated $46.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $4.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (40.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Hext Family Foundation has awarded 168 individual grants totaling $817,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Hext President | 0 | $0 | |
Melinda Spencer Vice Pres | 0 | $0 | |
Tim Spencer Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $497 |
| Dividends & Interest | $36,371 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $930 |
| Capital Gain Net Income | $930 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,457 |
| Total Revenue | $46,255 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $824 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $110 |
| Total operating and administrative expenses | $4,434 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,674 |
| Savings and temporary cash investments | $543,982 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,180,652 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,746,308 |
| 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, Hext Family Foundation has awarded $391,000 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE MINISTRIES PURPOSE: OPERATIONS | $10,000 |
AMERICAN CANCER SOCIETY PURPOSE: OPERATIONS | $15,000 |
AMERICAN FAMILY ASSOCIATION PURPOSE: OPERATIONS | $6,000 |
BIRTHRIGHT OF ODESSA INC PURPOSE: OPERATIONS | $5,000 |
BOY'S & GIRL'S CLUB OF ODESSA PURPOSE: SPONSOR | $5,000 |
BYNUM SCHOOL PURPOSE: SPECIAL NEEDS CHILDREN | $5,000 |