Montgomery County Community Foundation
- Assets
- $11.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 2
- Location
- The Woodlands, TX
- Founding
- 03/1984
- Data as of
- 12/2023
- EIN
- 76-0082098
Organization Overview
Montgomery County Community Foundation is located in The Woodlands, TX. The organization was established in 1984. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Montgomery County Community Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery County Community 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 12/2023, Montgomery County Community Foundation generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $525.7k during the year ending 12/2023. While expenses have increased by 9.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Montgomery County Community Foundation has awarded 164 individual grants totaling $1,192,674. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATING LEGACIES TO FULFILL PHILANTHROPIC DREAMS THROUGH GRANTS TO NONPROFITS AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS: CREATING LEGACY GRANTS BY MATCHING DONOR PASSIONS WITH NONPROFITS TO IMPROVE THE QUALITY OF LIFE IN MONTGOMERY COUNTY. THE FOUNDATION HOLDS DONOR ADVISED FUNDS, FIELD OF INTEREST FUNDS, DESIGNATED AGENCY FUNDS, AND UNRESTRICTED FUNDS. A TEAM OF 15 DISTRIBUTION COMMITTEE VOLUNTEERS REVIEW AND VET GRANT REQUESTS. DURING 2023, 55 GRANTS WERE GIVEN TO FEED THE HUNGRY, HELP WITH RENT AND UTILITIES, CARE FOR ABUSED AND NEGLECTED CHILDREN, HELP CHILDREN START SCHOOL WITH NEW CLOTHES AND SCHOOL SUPPLIES, OFFER EQUINE THERAPY TO VETERANS AND CHILDREN, PROVIDE HEALTH CARE SERVICES AND PRESCRIPTIONS, SUPPORT PERFORMING ARTS AND CULTURAL/HERITAGE PROGRAMS, SUPPORT ANIMAL WELFARE, AND MORE.
SCHOLARSHIPS: HIGH SCHOOL AND COMMUNITY COLLEGE STUDENTS ARE AWARDED GRANTS TO FURTHER THEIR POST HIGH SCHOOL EDUCATIONAL PURSUITS. DURING 2023, 21 STUDENTS RECEIVED SCHOLARSHIPS FROM LEGACY FUNDS TO EXPAND THEIR CHANCE FOR SUCCESS. 2023 ALSO MARKED THE FIRST MEDICAL SCHOOL SCHOLARSHIP AT SHSU'S COLLEGE OF OSTEOPATHIC MEDICINE. EACH FUND TARGETS A DIFFERENT POPULATION OR INTEREST, SUCH AS A LOCAL HIGH SCHOOL, SPECIFIC ATTRIBUTES LIKE SERVICE ABOVE SELF, ACADEMIC PERFORMANCE, FINANCIAL NEED, OR SPORTS. EACH FUND HAS A SELECTION COMMITTEE APPROVED BY THE BOARD WHICH USES FAIR AND OBJECTIVE CRITERIA TO SELECT THEIR NOMINEE(S). ALL CRITERIA, COMMITTEES, AND FINAL SCHOLARSHIP RECIPIENTS ARE APPROVED BY THE DISTRIBUTION COMMITTEE AND BOARD OF DIRECTORS.
THE FOUNDATION PROVIDES DISASTER ASSISTANCE AS NEEDED TO MONTGOMERY COUNTY RESIDENTS. IN 2023, NO DISASTERS OCCURRED THAT REQUIRED THE USE OF THIS FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Welbes Chair | OfficerTrustee | 5 | $0 |
Laura Lea Palmer Vice Chair | OfficerTrustee | 2 | $0 |
Leland Dushkin Secretary | OfficerTrustee | 2 | $0 |
Christin Allphin Treasurer | OfficerTrustee | 2 | $0 |
Bill Crowl Director | Trustee | 1 | $0 |
Nick Davis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $156,635 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,470,506 |
| Noncash contributions included in lines 1a–1f | $15,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,627,141 |
| Total Program Service Revenue | $0 |
| Investment income | $378,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$263,981 |
| Net Income from Fundraising Events | $70,043 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,811,938 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $253,900 |
| Grants and other assistance to domestic individuals. | $34,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $112,966 |
| Compensation of current officers, directors, key employees. | $33,890 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,975 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,590 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $14,454 |
| Information technology | $4,385 |
| Royalties | $0 |
| Occupancy | $18,266 |
| Travel | $2,102 |
| 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 | $74 |
| Insurance | $2,074 |
| All other expenses | $0 |
| Total functional expenses | $525,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,894 |
| Savings and temporary cash investments | $2,890,186 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $2,181 |
| Investments—publicly traded securities | $8,445,829 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,412,090 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $168,049 |
| 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 | $168,049 |
| Net assets without donor restrictions | $639,994 |
| Net assets with donor restrictions | $10,604,047 |
| 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 | $11,412,090 |
Grants Awarded
Over the last fiscal year, Montgomery County Community Foundation has awarded $174,311 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
ALL EARS LISTENING & LANGUAGE CENTER PURPOSE: Speech/auditory verbal therapy services | $8,300 |
KIDS' MEALS PURPOSE: Meal delivery support | $10,000 |
MONTGOMERY COUNTY YOUTH SERVICES PURPOSE: Program training assistance | $5,500 |
TEXAS NEW COMMUNITY ALLIANCE PURPOSE: Classroom enhancement support | $8,000 |
ST ISIDORE EPISCOPAL CHURCH PURPOSE: Abundant Harvest food kitchen support | $5,800 |
ASSISTANCE LEAGUE OF MONTGOMERY COUNTY PURPOSE: Support for trauma survivors | $11,200 |