Petersen Family Foundation
- Assets
- $8.8m
- Revenue
- $1.2m
- Investments
- $7.2m
- Employees
- 0
- Location
- Sugar Land, TX
- Founding
- 05/2017
- Data as of
- 12/2021
- 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 12/2021, Petersen Family Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.7%) each year.
Since 2020, Petersen Family Foundation has awarded 11 individual grants totaling $5,650,000. 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 |
|---|---|---|---|
Jay F Rea Secy/treas | 1 | $0 | |
Gary Rpetersen President | 2 | $0 | |
Richard S Snell Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $800,000 |
| Interest on Savings | $179,968 |
| Dividends & Interest | $52,103 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $189,808 |
| Capital Gain Net Income | $189,808 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$9,315 |
| Total Revenue | $1,212,564 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $36 |
| Total operating and administrative expenses | $49,647 |
| Contributions, gifts, grants paid | $1,750,000 |
| Total expenses and disbursements | $1,799,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,548,107 |
| 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 | $6,645,865 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,769,166 |
| 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 $1,750,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS TECH UNIVERSITY FOUNDATION PURPOSE: UNRESTRICTED USE BY TEXAS TECH UNIVERSITY FOUNDATION | $1,000,000 |
RIVER OAKS BAPTIST SCHOOL PURPOSE: UNRESTRICTED USE BY RIVER OAKS BAPTIST SCHOOL | $500,000 |
THE COUNCIL ON RECOVERY PURPOSE: UNRESTRICTED USE BY THE COUNCIL ON RECOVERY | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
Scharbauer Foundation Inc Midland, TX | $271,051,602 | $69,061,413 |
Wildcat Foundation Fort Worth, TX | $836,895 | $18,132,970 |
A Earl & Frances E Ziegler Foundation Norman, OK | $1,886,858 | $25,634,422 |
Eugene Mcdermott Foundation Dallas, TX | $220,528,387 | $97,884,779 |
Henderson-Wessendorff Foundation Richmond, TX | $228,160,288 | $17,605,762 |
Walter E Heller Foundation Dallas, TX | $0 | $637,126 |
Carl & Marilynn Thoma Foundation Dallas, TX | $0 | $929,287 |
Beloved In Christ Foundation Austin, TX | $172,986,617 | $3,113,726 |
The Kathryn H Craig Stephen Dudley Heard And Lillie D Heard Memorial Dallas, TX | $1,384 | -$449,918 |
Carroll Petrie Foundation Santa Fe, NM | $306,631,944 | $55,176,464 |
Hamill Foundation Houston, TX | $203,029,849 | $39,782,936 |