Foles Believe Foundation Inc
- Assets
- $7.2k
- Revenue
- $615.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- Data as of
- 12/2021
- EIN
- 85-0582598
Organization Overview
Foles Believe Foundation Inc is located in Austin, TX. According to its NTEE Classification (O99) the organization is classified as: Youth Development N.E.C., under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foles Believe Foundation Inc 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, Foles Believe Foundation Inc generated $615.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (29.8%) each year. All expenses for the organization totaled $838.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Foles Believe Foundation Inc has awarded 32 individual grants totaling $2,290,000. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOLES BELIEVE FOUNDATION IS DEDICATED TO IMPACTING AND SERVING THOSE IN NEED. YOUTH INITIATIVES, FAMILY CRISIS COUNSELING, MILITARY, MENTAL AND OVERALL HEALH ARE AREAS CLOSE TO THE HEARS OF NICK AND TORI FOLES. SERVING THOSE AREAS WILL BE DONE IN JESUS' NAME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED A NUMBER OF GRANTS TO VARIOUS ORGANIZATIONS THAT PROVIDE ASSISTANCE TO ECONOMICALLY DISADVANTAGED CHILDREN. SEVERAL GRANTS WERE AWARDED FOR MINORITY HIGHER EDUCATION ASSISTANCE DURING THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria Foles Chair | Officer | 10 | $0 |
Nicholas Foles Vice Chairman | Officer | 10 | $0 |
Christopher Maragos Secretary & Treasurer | Trustee | 10 | $0 |
Timothy Owens Member | Trustee | 5 | $0 |
Joey Feste Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $615,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $615,088 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $615,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $812,015 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $8,654 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,577 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $838,050 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,202 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,202 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,202 |
| Total liabilities and net assets/fund balances | $7,202 |
Grants Awarded
Over the last fiscal year, Foles Believe Foundation Inc has awarded $520,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: Program Service | $300,000 |
Irvine, CA PURPOSE: Program Service | $100,000 |
Chicago, IL PURPOSE: Program Service | $50,000 |
Austin, TX PURPOSE: Program Service | $25,000 |
Aliso Viejo, CA PURPOSE: Program Service | $25,000 |
Colorado Springs, CO PURPOSE: Program Service | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foles Believe Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
National Football League Foundation New York, NY PURPOSE: PLAYER FOUNDATION GRANTS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communities In Schools Of The South Plains Lubbock, TX | $5,510,037 | $11,639,897 |
Y-Gno Finance Foundation Inc Metairie, LA | $0 | $204,000 |
Kick Drugs Out Of America Foundation Houston, TX | $3,251,630 | $6,283,893 |
Camp For All Foundation Houston, TX | $19,527,838 | $4,309,337 |
Positive Tomorrows Inc Oklahoma City, OK | $15,149,548 | $3,924,805 |
The Forest Stewards Guild Santa Fe, NM | $1,227,852 | $2,587,395 |
Saloc San Antonio, TX | $1,644,193 | $2,786,053 |
15 And The Mahomies Foundation Austin, TX | $499,179 | $1,827,786 |
Oklahoma Youth Literacy Program Oklahoma, OK | $211,616 | $1,322,175 |
Out Youth Austin Austin, TX | $1,034,077 | $1,624,599 |
Camp Loughridge An Oklahoma Not For Profit Corporation Tulsa, OK | $5,546,254 | $1,150,461 |
Foles Believe Foundation Inc Austin, TX | $7,202 | $615,088 |