Fain Foundation
- Assets
- $8.3m
- Revenue
- $870.6k
- Investments
- $6.1m
- Employees
- 0
- Location
- Wichita Falls, TX
- Founding
- 12/1943
- Data as of
- 12/2022
- EIN
- 75-6016679
Organization Overview
Fain Foundation is located in Wichita Falls, TX. The organization was established in 1943. 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. Fain Foundation 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, Fain Foundation generated $870.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.7%) each year. All expenses for the organization totaled $763.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Fain Foundation has awarded 192 individual grants totaling $3,531,833. 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 |
|---|---|---|---|
Martha Fain President, Treasurer & Director | 2 | $24,000 | |
Mac W Cannedy Jr Vice-President, Sec. & Director | 2 | $24,000 | |
Dennis D Cannedy Director | 2 | $24,000 | |
Ann Kelly Director | 2 | $24,000 | |
John M Kelly Director | 2 | $24,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,632 |
| Dividends & Interest | $290,540 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $577,203 |
| Capital Gain Net Income | $577,203 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,203 |
| Total Revenue | $870,578 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $120,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,645 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,213 |
| Total operating and administrative expenses | $222,699 |
| Contributions, gifts, grants paid | $541,200 |
| Total expenses and disbursements | $763,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $772,636 |
| Savings and temporary cash investments | $1,351,774 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,329 |
| Total assets | $8,270,501 |
| 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, Fain Foundation has awarded $541,200 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
ALL HANDS CULTURAL COMNTY CTR PURPOSE: VIRTUAL INSTRUCTION | $10,000 |
ALZHEIMER'S ASSOCIATION PURPOSE: MEMORY WALK | $5,000 |
BEACON LIGHTHOUSE INC PURPOSE: EQUIPMENT | $25,000 |
ART'S COUNCIL WICHITA FALLS AREA KEMP CENTER FOR THE ARTS PURPOSE: CENTER STATE SPONSORSHIP | $10,000 |
BIG BROTHERS BIG SISTERS PURPOSE: OPERATING BUDGET | $15,000 |
BACKDOOR THEATRE PURPOSE: OPERATING BUDGET | $5,000 |