Wood Family Foundation Inc
- Assets
- $43.4m
- Revenue
- $3.6m
- Investments
- $40.2m
- Employees
- 0
- Location
- Odessa, TX
- Founding
- 05/1999
- Data as of
- 12/2023
- EIN
- 75-2806006
Organization Overview
Wood Family Foundation Inc is located in Odessa, TX. The organization was established in 1999. 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. Wood Family Foundation Inc 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, Wood Family Foundation Inc generated $3.6m 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 (10.0%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Wood Family Foundation Inc has awarded 124 individual grants totaling $17,430,642. 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 |
|---|---|---|---|
Jack Wood Vp/asst Sec | 0 | $0 | |
Donald E Wood Pres/sec-Treas | 0 | $0 | |
Brenda Denton Asst Sec | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $235,917 |
| Interest on Savings | $3,208 |
| Dividends & Interest | $963,131 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $883,644 |
| Capital Gain Net Income | $883,644 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,544,993 |
| Total Revenue | $3,630,893 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $63,421 |
| Pension plans, employee benefits | $6,866 |
| Interest | $0 |
| Taxes | $109,401 |
| Depreciation | $370,766 |
| Occupancy | $24,463 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $41,881 |
| Total operating and administrative expenses | $838,433 |
| Contributions, gifts, grants paid | $2,040,571 |
| Total expenses and disbursements | $2,879,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,791 |
| Savings and temporary cash investments | $3,011,729 |
| Net Accounts receivable | $145,239 |
| 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 | $10,799,685 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $60,950 |
| Total assets | $43,423,708 |
| 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 | $4,150 |
| Total liabilities | $4,150 |
Grants Awarded
Over the last fiscal year, Wood Family Foundation Inc has awarded $2,040,571 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
IDEA PUBLIC SCHOOLS PURPOSE: OPERATIONS | $428,571 |
BOYS AND GIRLS CLUB OF ODESSA PURPOSE: OPERATIONS | $20,000 |
BYNUM SCHOOL PURPOSE: OPERATIONS | $20,000 |
CHRISTMAS IN ACTION PURPOSE: OPERATIONS | $2,500 |
EMPTY STOCKING FUND PURPOSE: OPERATIONS | $5,000 |
LIBERTY INSTITUTE PURPOSE: OPERATIONS | $20,000 |