Specs Charitable Foundation
- Assets
- $3.3m
- Revenue
- $1.8m
- Investments
- $2.7m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 06/1997
- Data as of
- 12/2021
- EIN
- 76-0488033
Organization Overview
Specs Charitable Foundation is located in Houston, TX. The organization was established in 1997. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Specs Charitable 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, Specs Charitable Foundation generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 2.8% per year over the past 7 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 2014, Specs Charitable Foundation has awarded 36 individual grants totaling $9,683,610. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
VINTAGE VIRTUOSO - EVENT TO FACILITATE AND ENCOURAGE COMMUNITY INVOLVEMENT IN SUPPORTING THE EDUCATION OF SCHOOL AGE CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert J Heisler Vice Pres | 15 | $0 | |
Lisa R Key Sec/treas. | 10 | $0 | |
Karen Lynn Rydman President | 10 | $0 | |
John A Rydman Vice Pres | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $700,000 |
| Interest on Savings | $13,067 |
| Dividends & Interest | $52,073 |
| Net Rental Income | $19,695 |
| Net Gain on Sale of Assets | $350,541 |
| Capital Gain Net Income | $350,542 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $695,646 |
| Total Revenue | $1,831,022 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,259 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $19,858 |
| Total operating and administrative expenses | $52,500 |
| Contributions, gifts, grants paid | $1,154,000 |
| Total expenses and disbursements | $1,206,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $443,610 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $1,889 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $150,093 |
| Total assets | $3,278,436 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Specs Charitable Foundation has awarded $1,154,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSTON SYMPHONY OUTREACH PURPOSE: EDUCATIONAL PURPOSES | $409,000 |
ARCHDIOCESE OF GALVESTON PURPOSE: EDUCATIONAL PURPOSES | $365,000 |
U OF H CONRAD HILTON SCHOOL PURPOSE: EDUCATIONAL PURPOSES | $310,000 |
Denton, TX PURPOSE: EDUCATIONAL PURPOSES | $70,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Specs Charitable Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Colleen J Maloof Fund Las Vegas, NV PURPOSE: HURRINCANE RELIEF FUND | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Angelo Area Foundation San Angelo, TX | $221,834,647 | $42,062,458 |
Mercy Ships Foundation Lindale, TX | $100,019,661 | $12,520,932 |
Texas Womens Foundation Dallas, TX | $33,197,240 | $8,443,158 |
Gayle And Tom Benson Charitablefoundation Metairie, LA | $44,526 | $10,673,881 |
The Oscar J Tolmas Charitable Trust Metairie, LA | $58,086,420 | $4,279,649 |
The University Of Texas At Tyler Education Inc Tyler, TX | $0 | $51,128 |
University Of Arkansas Technology Development Foundation Fayetteville, AR | $18,380,736 | $2,093,754 |
Butcher Fund Houston, TX | $0 | $254,062 |
Lensic Performing Arts Center Corporation Santa Fe, NM | $15,012,313 | $4,156,320 |
John R & Greli N Less Charitable Trust San Antonio, TX | $117,218,576 | $120,089,499 |
St Davids Community Health Foundation Initiatives Austin, TX | $27,867,184 | $2,942,176 |
Crow Family Foundation Inc Dallas, TX | $48,525 | $3,503 |