1248 Foundation
- Assets
- $1.3m
- Revenue
- $90.6k
- Investments
- $1.3m
- Employees
- 0
- Location
- Artesia, NM
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 81-4716982
Organization Overview
1248 Foundation is located in Artesia, NM. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1248 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, 1248 Foundation generated $90.6k 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 (37.1%) each year. All expenses for the organization totaled $110.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, 1248 Foundation has awarded 16 individual grants totaling $215,654. 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 |
|---|---|---|---|
John Trey A Yates III Director, President | 1 | $0 | |
John A Yates Jr Director, Vp, Treasurer | 1 | $0 | |
Nancy E Yates Director, Secretary | 1 | $0 | |
Alexis Yates Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $79,135 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $11,429 |
| Capital Gain Net Income | $11,429 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $90,564 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,163 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,910 |
| Total operating and administrative expenses | $22,459 |
| Contributions, gifts, grants paid | $87,500 |
| Total expenses and disbursements | $109,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,818 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $89 |
| 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 | $1,046,534 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,340,299 |
| 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, 1248 Foundation has awarded $87,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ST JUDE CHILDREN'S HOSPITAL PURPOSE: TO HELP CHILDREN WITH CANCER | $2,500 |
ASSEMBLIES OF GOD US MISSIONS PURPOSE: TO HELP FUND PROGRAM AND MISSIONARIES | $2,500 |
DAR A LUZ BIRTH & HEALTH CENTER PURPOSE: TO HELP WOMEN WITH MIDWIFERY CARE | $50,000 |
AMERICA THINKS INC PURPOSE: TO HELP WITH VOTER RESEARCH | $22,500 |
VSCP - TAMU ANIMAL SCIENCE PURPOSE: TO HELP FUND RESERAH BASED PROGRAMS | $10,000 |