J F Maddox Foundation
- Assets
- $240.4m
- Revenue
- $15.6m
- Investments
- $215.2m
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 10/1964
- Data as of
- 12/2020
- EIN
- 75-6023767
Organization Overview
J F Maddox Foundation is located in Hobbs, NM. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. J F Maddox 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 12/2020, J F Maddox Foundation generated $15.6m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $10.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (18.3%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, J F Maddox Foundation has awarded 426 individual grants totaling $13,225,651. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT & ADMINISTRATION OF JACK MADDOX DISTINGUISHED SCHOLARSHIP PROGRAM. REFER TO WEBSITE AT WWW.JFMADDOX.ORG
HOBBS EARLY LITERACY PROJECT (HELP) SEEKS TO IMPROVE LITERACY OUTCOMES FOR LOW-INCOME K-2ND GRADE STUDENTS. THE PRIMARY FOCUS OF THE PROJECT IS (SEE SUPPLEMENTAL INFORMATION) TO STRENGTHEN THE CORE INSTRUCTIONAL PROGRAMS USING EVIDENCE-BASED CURRICULA AND INSTRUCTIONAL STRATEGIES TO DRIVE IMPROVED STUDENT OUTCOMES.
THE LEA COUNTY EARLY LEARNING AND RECOVERY COALITION BROUGHT TOGETHER LOCAL STAKEHOLDERS WHO CONVENE TO DEVELOP A COMMUNITY SOLUTIONS ACTION PLAN FOR LEA COUNTY, NEW MEXICO TO MAKE MEANINGFUL STRIDES TO REDUCE LEARNING LOSS RESULTING FROM THE COVID-19 PANDEMIC, IMPROVE LITERACY RATES, AND PROVIDE AN ASSET-BASED SAFE ENVIRONMENT FOR LEA COUNTY STUDENTS.
MADDOX LEADERSHIP INSTITUTE (MLI) DEVELOPS COMMUNITY LEADERS WHO EFFECTIVELY ENGAGE IN COMMUNITY SUSTAINABILITY AND DEVELOPMENT. PROGRAM (SEE SUPPLEMENTAL INFORMATION) PARTICIPANTS ARE PROVIDED WITH THE SKILLS IT TAKES TO BE EMPOWERED, INSPIRE CHANGE, AND TO SUSTAIN THE FUTURE OF OUR LEA COUNTY COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | 4 | $38,169 | |
Kerri Frizzell Financial Analyst | 30 | $167,585 | |
David Reed Sr. Program Officer | 40 | $105,195 | |
Mayra Lovas Sr. Program Officer | 40 | $100,204 | |
Sarah Anderson Grants Administrator | 40 | $70,000 | |
Carol Crossland Program Associate | 40 | $60,539 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smarter Learning Group | 12/30/21 | $86,400 |
Cooke & Bieler Lp | 12/30/21 | $102,239 |
Fund Evaluation Group Llc | 12/30/21 | $116,956 |
Vaughan Nelson Investment Management Lp | 12/30/21 | $114,082 |
American Institute For Research | 12/30/21 | $79,870 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16,084 |
| Dividends & Interest | $1,017,226 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,092,361 |
| Capital Gain Net Income | $11,999,063 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,441,384 |
| Total Revenue | $15,567,055 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,272,277 |
| Other employee salaries and wages | $552,813 |
| Pension plans, employee benefits | $369,531 |
| Interest | $58 |
| Taxes | $189,417 |
| Depreciation | $76,500 |
| Occupancy | $111,847 |
| Travel, conferences, and meetings | $55,894 |
| Printing and publications | $7,795 |
| Other expenses | $3,735,240 |
| Total operating and administrative expenses | $7,184,897 |
| Contributions, gifts, grants paid | $2,927,992 |
| Total expenses and disbursements | $10,112,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,532,767 |
| 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 | $158,676,875 |
| Net Land, buildings, and equipment | $266,909 |
| Other assets | $12,373,184 |
| Total assets | $240,372,497 |
| Accounts payable and accrued expenses | $444 |
| 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 | $444 |
Grants Awarded
Over the last fiscal year, J F Maddox Foundation has awarded $8,681,887 in support to 208 organizations.
| Grant Recipient | Amount |
|---|---|
Albuquerque, NM PURPOSE: CTECH CONSTRUCTION | $5,000,000 |
HABITAT FOR HUMANITY INTERNATIONAL INC PURPOSE: RESTORE PROPERTY PURCHASE | $450,000 |
Hobbs, NM PURPOSE: CAMPAIGN SUPPORT 2020-2023 | $403,328 |
Lovington, NM PURPOSE: COVID-19 COMMUNITY VACCINATION RESPONSE | $324,000 |
DAYLAN FLEMMONS PURPOSE: 2018 DISTINGUISHED SCHOLAR | $88,616 |
MYPOWER INC PURPOSE: GENERAL OPERATING SUPPORT | $78,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |