Clayton And Odessa Lang Ofstad Foundation
- Assets
- $45.5m
- Revenue
- $1.2m
- Investments
- $44.8m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- Data as of
- 12/2023
- EIN
- 85-6300108
Organization Overview
Clayton And Odessa Lang Ofstad Foundation is located in Dallas, TX. 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. Clayton And Odessa Lang Ofstad 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, Clayton And Odessa Lang Ofstad Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (62.4%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Clayton And Odessa Lang Ofstad Foundation has awarded 53 individual grants totaling $4,768,000. 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 |
|---|---|---|---|
Odessa Ofstad Co-Trustee | 2 | $0 | |
Bank Of America N A Trustee | 1 | $276,667 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $994,259 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,043 |
| Capital Gain Net Income | $14,043 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $177,231 |
| Total Revenue | $1,185,533 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $276,667 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $34,216 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $463,448 |
| Contributions, gifts, grants paid | $2,377,000 |
| Total expenses and disbursements | $2,840,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $723,641 |
| 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 | $45,491,565 |
| 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, Clayton And Odessa Lang Ofstad Foundation has awarded $2,377,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
PARTNERS IN HEALTH PURPOSE: UNRESTRICTED GENERAL | $75,000 |
SAVE THE CHILDREN FEDERATION INC PURPOSE: UNRESTRICTED GENERAL | $100,000 |
METROPOLITAN OPERA ASSOCIATION INC PURPOSE: UNRESTRICTED GENERAL | $100,000 |
MEDECINS SANS FRONTIERS USA PURPOSE: UNRESTRICTED GENERAL | $100,000 |
PUBLIC TELEVISION 19 KCPT INC PURPOSE: UNRESTRICTED GENERAL | $80,000 |
MISSOURI PRAIRIE FOUNDATION PURPOSE: UNRESTRICTED GENERAL | $25,000 |