Fasken Foundation
- Assets
- $0.0
- Revenue
- $4.7m
- Investments
- $46.0m
- Employees
- 0
- Location
- Midland, TX
- Founding
- 10/1957
- Data as of
- 12/2021
- EIN
- 75-6023680
Organization Overview
Fasken Foundation is located in Midland, TX. The organization was established in 1957. 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. Fasken 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 12/2021, Fasken Foundation generated $4.7m 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 (27.1%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Fasken Foundation has awarded 785 individual grants totaling $7,153,316. 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 |
|---|---|---|---|
Jeff Alsup Executive Director | 40 | $160,000 | |
Tracy K Elms Director | 1 | $5,000 | |
Paula Fasken Director/secretary | 1 | $4,000 | |
Steven P Fasken Director | 1 | $1,500 | |
Susan Fasken Hartin Director | 1 | $4,000 | |
Tevis Herd Director | 1 | $7,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $776 |
| Dividends & Interest | $852,215 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,918,970 |
| Total Revenue | $4,666,295 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $195,000 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $29,048 |
| Travel, conferences, and meetings | $2,947 |
| Printing and publications | $47 |
| Total operating and administrative expenses | $1,568,853 |
| Contributions, gifts, grants paid | $1,628,252 |
| Total expenses and disbursements | $3,197,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,996 |
| Investments—mortgage loans | $0 |
| Investments—other | $45,968,655 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Fasken Foundation has awarded $1,711,915 in support to 168 organizations.
| Grant Recipient | Amount |
|---|---|
APHASIA CENTER WEST TEXAS PURPOSE: DIRECTOR'S CHOICE 2022 | $5,000 |
AGAPE COUNSELING SERVICES OF WEST TEXAS PURPOSE: 2022 GRANT | $15,000 |
BIG BROTHERS BIG SISTERS OF THE PERMIAN BASIN INC PURPOSE: 2022 GRANT | $18,000 |
BAYLOR HEALTH CARE SYSTEM FOUNDATION PURPOSE: DIRECTOR'S CHOICE 2022 | $7,500 |
BOYS AND GIRLS CLUBS OF THE PERMIAN BASIN PURPOSE: 2022 GRANT | $15,000 |
BYNUM SCHOOL PURPOSE: 2022 GRANT | $30,000 |