Diamond M Foundation Inc
- Assets
- $6.5m
- Revenue
- $603.5k
- Investments
- $6.4m
- Employees
- 0
- Location
- San Angelo, TX
- Founding
- 08/1958
- Data as of
- 12/2022
- EIN
- 75-6015426
Organization Overview
Diamond M Foundation Inc is located in San Angelo, TX. The organization was established in 1958. 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. Diamond M 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, Diamond M Foundation Inc generated $603.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $491.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Diamond M Foundation Inc has awarded 25 individual grants totaling $1,525,857. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS TO QUALIFIED ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laure C Mclaughlin President | 0 | $0 | |
Brian T Mclaughlin Director | 0 | $0 | |
Evelyn Mclaughlin Davies Director | 0 | $0 | |
Barbara Riddle Fendley Secretary | 0 | $0 | |
J M Mclaughlin Chairman | 0 | $0 | |
Deborah Deford Dunkum Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $206 |
| Dividends & Interest | $257,330 |
| 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 | $345,923 |
| Total Revenue | $603,459 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25,819 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $31,019 |
| Contributions, gifts, grants paid | $460,000 |
| Total expenses and disbursements | $491,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,880 |
| 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 | $50,973 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $26 |
| Total assets | $6,507,460 |
| 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, Diamond M Foundation Inc has awarded $460,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RANCHING HERITAGE ASSOCIATION PURPOSE: OPERATING FUNDS | $50,000 |
SCURRY COUNTY MINISTERIAL ALLIANCE PURPOSE: OPERATING FUNDS | $10,000 |
SAN ANGELO AREA FOUNDATION PURPOSE: OPERATING EXPENSE | $400,000 |