Thomas Wells Foundation
- Assets
- $3.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 83-2914382
Organization Overview
Thomas Wells Foundation is located in Lubbock, TX. The organization was established in 2019. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Thomas Wells Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Earlene Johnson President | 1 | $0 | |
Samuel J Hawthrone Vice President | 1 | $0 | |
Carolyn Stephenson Sec/treas | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,340,700 |
| Interest on Savings | $896 |
| Dividends & Interest | $88,765 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $102,113 |
| Capital Gain Net Income | $552 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,532,474 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $40,312 |
| Contributions, gifts, grants paid | $125,000 |
| Total expenses and disbursements | $165,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,560,975 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,560,975 |
| 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, Thomas Wells Foundation has awarded $125,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH PLAINS FOOD BANK PURPOSE: FOOD TO THE NEEDY | $75,000 |
OPEN DOOR PURPOSE: OPEN DOOR | $50,000 |