Petersen Family Foundation
- Assets
- $12.6m
- Revenue
- $6.0m
- Investments
- $10.9m
- Employees
- 0
- Location
- Sugar Land, TX
- Founding
- 05/2017
- Data as of
- 12/2023
- EIN
- 81-4547001
Organization Overview
Petersen Family Foundation is located in Sugar Land, TX. The organization was established in 2017. 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. Petersen Family 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, Petersen Family Foundation generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.1%) each year.
Since 2020, Petersen Family Foundation has awarded 11 individual grants totaling $4,150,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Rpetersen President | 2 | $0 | |
Jay F Rea Secy/treas | 2 | $0 | |
Christopher R Petersen Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,103,978 |
| Interest on Savings | $219,910 |
| Dividends & Interest | $108,092 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,601,918 |
| Capital Gain Net Income | $1,601,918 |
| Net ST Capital Gain | $283,096 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,738 |
| Total Revenue | $6,035,636 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,537 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $100 |
| Total operating and administrative expenses | $57,750 |
| Contributions, gifts, grants paid | $1,500,000 |
| Total expenses and disbursements | $1,557,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,700,111 |
| Savings and temporary cash investments | $0 |
| 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 | $9,433,792 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,623,012 |
| 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, Petersen Family Foundation has awarded $450,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ASTROS GOLF FOUNDATION PURPOSE: UNRESTRICTED USE BY ASTROS GOLF FOUNDATION | $200,000 |
THE CHAPELWOOD FOUNDATION PURPOSE: UNRESTRICTED USE BY THE CHAPELWOOD FOUNDATION | $50,000 |
SECOND BAPTIST SCHOOL FOUNDATION PURPOSE: UNRESTRICTED USE BY SECOND BAPTIST SCHOOL FOUNDATION | $100,000 |
UNITED WAY OF GREATER HOUSTON PURPOSE: UNRESTRICTED USE BY UNITED WAY OF GREATER HOUSTON | $100,000 |