Nancy Seaberry Frost Arts Endowment
- Assets
- $495.0k
- Revenue
- $60.3k
- Investments
- $221.6k
- Employees
- 0
- Location
- Eastland, TX
- Founding
- 10/2000
- Data as of
- 04/2023
- EIN
- 75-2812407
Organization Overview
Nancy Seaberry Frost Arts Endowment is located in Eastland, TX. The organization was established in 2000. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nancy Seaberry Frost Arts Endowment 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 04/2023, Nancy Seaberry Frost Arts Endowment generated $60.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $41.9k during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PRIMARY PROJECT IS TO PROVIDE MUSIC SCHOLARSHIPS TO SCHOOL CHILDREN IN GRADES 1-12 WHO RESIDE OR STUDY MUSIC IN THE STATE OF TEXAS AND APPLY FOR THE SCHOLARSHIP.
NO ADMISSION COMMUNITY PERFORMANCES TO INCREASE THE APPRECIATION FOR MUSIC AND ITS ENHANCEMENT TO THE QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Whiddon Executive Di | 5 | $25,000 | |
James S Frost Member | 1 | $0 | |
Cyrus Frost Member | 1 | $0 | |
John Frost Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,611 |
| Net Rental Income | $0 |
| 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 | $58,515 |
| Total Revenue | $60,326 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,108 |
| Depreciation | $739 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,911 |
| Total operating and administrative expenses | $32,758 |
| Contributions, gifts, grants paid | $9,100 |
| Total expenses and disbursements | $41,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,825 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $221,554 |
| Net Land, buildings, and equipment | $20,666 |
| Other assets | $0 |
| Total assets | $495,045 |
| 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, Nancy Seaberry Frost Arts Endowment has awarded $9,100 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SHERRY FRUSH PURPOSE: MUSIC SCHOLARSHIP | $3,000 |
MARIE CLARKSON PURPOSE: MUSIC SCHOLARSHIP | $3,000 |
DIANE OWEN PURPOSE: MUSIC SCHOLARSHIP | $1,000 |
KATIE TOWNSEND PURPOSE: MUSIC SCHOLARSHIP | $500 |
SIEBERT SINGERS PURPOSE: CHARITABLE GRANT | $500 |
SONLIGHT ACADEMY PURPOSE: CHARITABLE GRANT | $600 |