Amarillo College Foundation Inc
- Assets
- $65.7m
- Revenue
- $3.7m
- Investments
- $5.1m
- Employees
- 0
- Location
- Amarillo, TX
- Founding
- 12/1963
- Data as of
- 08/2022
- EIN
- 75-6029084
Organization Overview
Amarillo College Foundation Inc is located in Amarillo, TX. The organization was established in 1963. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Amarillo College 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 08/2022, Amarillo College Foundation Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $3.2m during the year ending 08/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Amarillo College Foundation Inc has awarded 16 individual grants totaling $5,600,605. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE AMARILLO COLLEGE FOUNDATION IS A NON-PROFIT AND TAX EXEMPT FOUNDATION WHICH SEEKS TO PROMOTE EXCELLENCE AT AMARILLO COLLEGE. THE ORGANIZATION WAS ORGANIZED TO OBTAIN GIFTS AND GRANTS TO BE USED FOR THE DEVELOPMENT OF AMARILLO COLLEGE. THE ORGANIZATION AWARDS SCHOLARSHIPS AND MAKES LOANS TO STUDENTS AT AMARILLO COLLEGE WHO ARE WITHOUT BANKING OR OTHER CREDIT PRIVILEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PAYMENT OF STUDENT TUITION, FEES, BOOKS OR OTHER INSTITUTIONAL SUPPORT OF AMARILLO COLLEGE. 1,240 STUDENTS RECEIVED SCHOLARSHIPS OR AID MONEY. ONE GRANT WAS AWARDED TO NONPROFIT ENTITY. THERE IS NO SIGNIFICANT INVOLVEMENT IN ANY GRANT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Russell Lowery-Hart Dir. / Ac President | Trustee | 1 | $0 |
Chris Sharp Treasurer | OfficerTrustee | 1 | $0 |
Lesley Ingham Dir. / Faculty Rep | Trustee | 1 | $0 |
Emily Hall Chairman | OfficerTrustee | 1 | $0 |
John Mcelyea Vice Chairman | OfficerTrustee | 1 | $0 |
Mark Shaffer Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,077,792 |
| Noncash contributions included in lines 1a–1f | $50,516 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,077,792 |
| Total Program Service Revenue | $0 |
| Investment income | $1,305,367 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $115,289 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,773,526 |
| Net Income from Fundraising Events | $7,042 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,740,660 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,293 |
| Grants and other assistance to domestic individuals. | $1,549,352 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $92,640 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $357,207 |
| Fees for services: Other | $113,908 |
| Advertising and promotion | $57,253 |
| Office expenses | $46,183 |
| Information technology | $28,137 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $36,471 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,933 |
| Interest | $0 |
| Payments to affiliates | $319,282 |
| Depreciation, depletion, and amortization | $1,701 |
| Insurance | $8,166 |
| All other expenses | $0 |
| Total functional expenses | $3,231,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,394 |
| Savings and temporary cash investments | $23,192 |
| Pledges and grants receivable | $1,682,969 |
| Accounts receivable, net | $25,156 |
| 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 | $1,559 |
| Investments—publicly traded securities | $58,142,253 |
| Investments—other securities | $5,074,746 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $585,386 |
| Total assets | $65,720,655 |
| Accounts payable and accrued expenses | $23,729 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $34,151 |
| Total liabilities | $57,880 |
| Net assets without donor restrictions | $4,328,121 |
| Net assets with donor restrictions | $61,334,654 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $65,720,655 |
Grants Awarded
Over the last fiscal year, Amarillo College Foundation Inc has awarded $494,111 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BAPTIST COMMUNITY SERVICES PURPOSE: EDUCATIONAL PROGRAM | $14,043 |
AMARILLO JUNIOR COLLEGE DISTRICT PURPOSE: COLLEGE EDUCATION | $480,068 |