Big Spring Area Community Foundation Inc
- Assets
- $18.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Big Spring, TX
- Founding
- 07/2002
- Data as of
- 12/2021
- 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. As of 12/2021, Big Spring Area Community Foundation Inc employed 2 individuals. 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 12/2021, Big Spring Area Community Foundation Inc generated $1.3m 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 (3.3%) each year. All expenses for the organization totaled $556.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Big Spring Area Community Foundation Inc has awarded 22 individual grants totaling $518,305. 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
2021
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
SCHOLARSHIPS AND GRANTS TO EDUCATIONAL INSTITUTIONS: HOWARD COLLEGE 22,886 MIDLAND COLLEGE 2,500 TEXAS STATE TECHNICAL COLLEGE 7,500 TEXAS TECH UNIVERSITY 3,500 UT-PERMIAN BASIN 1,500 ANGELO STATE UNIVERSITY 3,000 TEXAS STATE UNIVERSITY 2,500 TEXAS UNIVERSITY FINANCIAL AID 1,000 TEXAS A&M COMMERCE 2,000 TARRANT COUNTY COLLEGE 2,500
EXEMPT CIVIC AND RELIGIOUS ORGANIZATIONS: AMPHITHEATHER IMPROVEMENT 50,000.00 WEST TEXAS CENTERS 7,000.00 BIG SPRING SYMPHONY 17,096.34 YMCA 84,459.90 CANTERBURY RETIREMENT HOMES 4,000.86 ST. MARY'S EPISCOPAL CHURCH 20,813.43 BIG SPRING MAIN STREET INC 7,586.00 CROSSROADS HOUSING DEVELOPMENT 25,000.00 CROSSROADS YOUNG MARINES 4,000.00 FOOD 2 KIDS 5,000.00 HERITAGE MUSEUM 14,321.96 HOWARD COUNTY VOLUNTEER FIRE DEPT 30,000.00 HOWARD COLLEGE 20,000.00 NORTH SIDE MOVEMENT 22,500.00 SWCID 10,000.00 HOPE FOUNDATION 24,751.00
N/A
SUPPORT FOR PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Mouton President | OfficerTrustee | 2 | $0 |
Tommy Churchwell Vice Preside | OfficerTrustee | $0 | |
Richard Steel Secretary | OfficerTrustee | $0 | |
Leslie Elrod-Hobbs Member | Trustee | $0 | |
Bobby Mcdonald Member | Trustee | $0 | |
Jan Foresyth Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,660 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,148,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,151,826 |
| Total Program Service Revenue | $0 |
| Investment income | $180,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $1,332,543 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $400,563 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,957 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,486 |
| Advertising and promotion | $1,016 |
| Office expenses | $10,770 |
| Information technology | $3,386 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,840 |
| All other expenses | $0 |
| Total functional expenses | $556,857 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $251,051 |
| Savings and temporary cash investments | $1,100,344 |
| 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 | $16,962,900 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,314,295 |
| Accounts payable and accrued expenses | $1,219 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,472,118 |
| 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 | $3,473,337 |
| 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 | $14,840,958 |
| Total liabilities and net assets/fund balances | $18,314,295 |
Grants Awarded
Over the last fiscal year, Big Spring Area Community Foundation Inc has awarded $369,062 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Big Spring, TX PURPOSE: OPERATIONS | $84,460 |
AMPHITHEATHER IMPROVEMENT PURPOSE: OPERATIONS | $50,000 |
Big Spring, TX PURPOSE: OPERATIONS | $30,000 |
Big Spring, TX PURPOSE: OPERATIONS | $25,000 |
HOPE FOUNDATIONS PURPOSE: OPERATIONS | $24,751 |
HOWARD COUNTY JUNIOR COLLEGE PURPOSE: SCHOLARSHIPS | $22,886 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Big Spring Area Community Foundation Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Denver Foundation Denver, CO PURPOSE: FORSAN ISD WELDING SHOP REMODEL | $7,500 |
Endowment Analysis
| Beg. Balance | $11,980,927 |
| Earnings | $2,025,036 |
| Admin Expense | $144,607 |
| Net Contributions | $1,148,466 |
| Grants | $322,537 |
| Ending Balance | $14,696,285 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX | $387,395,879 | $137,312,103 |
Austin Community Foundation Austin, TX | $433,764,301 | $88,798,773 |
San Antonio Area Foundation San Antonio, TX | $587,345,748 | $192,937,536 |
The Greater New Orleans Foundation New Orleans, LA | $406,748,750 | $50,799,913 |
Arkansas Community Foundation Inc Little Rock, AR | $560,797,819 | $112,679,416 |
Oklahoma City Community Foundation Inc Oklahoma City, OK | $855,000,248 | $159,496,642 |
Community Foundation Of North Texas Fort Worth, TX | $520,525,998 | $72,575,782 |
Baton Rouge Area Foundation Baton Rouge, LA | $293,247,071 | $35,030,558 |
Astros Golf Foundation Houston, TX | $9,630,590 | $24,941,045 |
Santa Fe Community Foundation Santa Fe, NM | $107,508,749 | $26,179,829 |
Houston Jewish Community Foundation Houston, TX | $219,913,135 | $24,014,170 |
El Paso Community Foundation El Paso, TX | $84,044,216 | $21,715,289 |