Abilene Industrial Foundation Inc
- Assets
- $610.2k
- Revenue
- $742.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Abilene, TX
- Founding
- 00/0000
- Data as of
- 09/2021
- EIN
- 75-6035743
Organization Overview
Abilene Industrial Foundation Inc is located in Abilene, TX. The organization was established in 0000. 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. Abilene Industrial Foundation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2021, Abilene Industrial Foundation Inc generated $742.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $574.3k during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ABILENE INDUSTRIAL FOUNDATION IS TO PROMOTE THE GROWTH, DEVELOPMENT, AND DIVERSITY OF THE ECONOMY IN AND AROUND ABILENE, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT - PROGRAMS DESIGNED TO PROMOTE ABILENE AS AN INDUSTRIAL SITE FOR NEW INDUSTRIES AND TO ENHANCE EXPANSION AND RETENTION OF JOBS BY EXISTING INDUSTRIES AND EMPLOYERS.
GOVERNMENTAL AFFAIRS - A PROGRAM TO INCREASE THE VISIBILITY OF ABILENE IN THE STATE LEGISLATURE AND PROVIDE TIMELY INFORMATION ABOUT LAWS OR REGULATIONS AFFECTING STATE AGENCIES WITH LOCATIONS IN ABILENE THAT MIGHT IMPACT THE LOCAL ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Grubbs Chair | OfficerTrustee | 5 | $0 |
Shaun Martin Secretarytreasurer | OfficerTrustee | 2 | $0 |
Russell Guthrie Past Chair | OfficerTrustee | 2 | $0 |
Elizabeth Mcvey Chair Elect | OfficerTrustee | 2 | $0 |
Doug Peters President | Officer | 12 | $0 |
Joe Ed Canon Director | Trustee | 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 | $302,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $302,272 |
| Total Program Service Revenue | $395,727 |
| Investment income | $392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $742,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $69,701 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $183,211 |
| Pension plan accruals and contributions | $8,347 |
| Other employee benefits | $38,455 |
| Payroll taxes | $18,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,073 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $23,731 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $95,096 |
| Advertising and promotion | $4,044 |
| Office expenses | $1,411 |
| Information technology | $8,129 |
| Royalties | $0 |
| Occupancy | $19,350 |
| Travel | $16,260 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,865 |
| Insurance | $0 |
| All other expenses | $3,568 |
| Total functional expenses | $574,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,850 |
| Savings and temporary cash investments | $180,443 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $129,869 |
| 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 | $3,534 |
| Net Land, buildings, and equipment | $16,489 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $610,185 |
| Accounts payable and accrued expenses | $139,162 |
| 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 | $0 |
| Total liabilities | $139,162 |
| Net assets without donor restrictions | $471,023 |
| Net assets with donor restrictions | $0 |
| 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 | $610,185 |
Grants Awarded
Over the last fiscal year, Abilene Industrial Foundation Inc has awarded $82,655 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ABILENE CONVENTION CENTER HOTEL DEV PURPOSE: Downtown Hotel Development | $75,000 |
Abilene, TX PURPOSE: Endowment | $7,655 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Abilene Industrial Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Tstc Foundation Waco, TX PURPOSE: ANNUAL DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |