Big Spring Area Community Foundation Inc
- Assets
- $16.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Big Spring, TX
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 75-2970373
Organization Overview
Big Spring Area Community Foundation Inc is located in Big Spring, TX. The organization was established in 2002. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Spring Area Community 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 12/2022, Big Spring Area Community Foundation Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $793.2k during the year ending 12/2022. While expenses have increased by 18.3% per year over the past 5 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 2020, Big Spring Area Community Foundation Inc has awarded 44 individual grants totaling $1,139,029. 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
RECEIVE GIFTS, BEQUESTS AND DONATIONS TO BE HELD AS ENDOWMENTS THAT WILL PROVIDE CHARITABLE, CULTURAL AND EDUCATIONAL BENEFITS TO THE BIG SPRING AND HOWARD COUNTY AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
GENERAL AND ADMINISTRATION SERVICES AND SOME GENERAL DONATIONS
SCHOLARSHIPS AND GRANTS TO EDUCATIONAL INSTITUTIONS:ANGELO STATE UNIVERSITY 7,500.00HARDING UNIVERSITY 2,500.00HOWARD COLLEGE 23,739.78LUBBOCK CHRISTIAN UNIVERSITY 2,500.00MCMURRY UNIVERSITY 2,500.00PENN STATE UNIVERSITY 2,500.00TARLETON STATE UNIVERSITY 2,500.00TEXAS A&M COMMERCE 2,000.00TEXAS A&M UNIVERSITY 9,000.00TEXAS STATE TECHNICAL COLLEGE 7,000.00TEXAS TECH UNIVERSITY 15,000.00THE UNIVERSITY OF HOUSTON 2,500.00THE UNIVERSITY OF TEXAS AT AUSTIN 2,500.00TULSA WELDING SCHOOL 2,000.00
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vacant Member | Trustee | 0 | $0 |
Robert L Crownover Member | Trustee | 0 | $0 |
Diane Wood Member | Trustee | 0 | $0 |
Patsy Sanchez Member | Trustee | 0 | $0 |
Jim Little Member | Trustee | 0 | $0 |
Maureen Haddad Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,980 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,930,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,932,610 |
| Total Program Service Revenue | $0 |
| Investment income | $389,323 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,024 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,326,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $629,542 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,107 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $945 |
| Fees for services: Accounting | $9,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,176 |
| Information technology | $777 |
| Royalties | $216 |
| Occupancy | $6,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,103 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $311 |
| Insurance | $2,450 |
| All other expenses | $12,180 |
| Total functional expenses | $793,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,116,260 |
| Savings and temporary cash investments | $234,484 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,906,498 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,257,242 |
| Accounts payable and accrued expenses | $1,219 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,744,426 |
| 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 | $0 |
| Total liabilities | $2,745,645 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $13,511,597 |
| Total liabilities and net assets/fund balances | $16,257,242 |
Grants Awarded
Over the last fiscal year, Big Spring Area Community Foundation Inc has awarded $620,724 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ANGELO STATE UNIVERSITY | | | $7,500 |
BIG SPRING ISD | | | $33,841 |
BIG SPRING SYMPHONY PURPOSE: OPERATIONS | $32,637 |
BIG SPRING YMCA KIDS ACADEMY | | | $50,000 |
DAV CHAPTER 47 | | | $24,000 |
HERITAGE MUSEUM PURPOSE: OPERATIONS | $25,977 |