Diamante First Tee Foundation
- Assets
- $453.1k
- Revenue
- $519.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Southlake, TX
- Founding
- Data as of
- 12/2021
- EIN
- 86-2975580
Organization Overview
Diamante First Tee Foundation is located in Southlake, TX. According to its NTEE Classification (N12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Diamante First Tee Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED AND OPERATED TO PROVIDE FUNDING SUPPORT FOR THE CABO SAN LUCAS FIRST TEE WHICH INFLUENCES THE LIVES OF YOUNG PEOPLE THROUGH EDUCATIONAL PROGRAMS THAT BUILD CHARACTER, INSTILL LIFE-ENRICHING VALUES, AND PROMOTE HEALTHY LESSONS THROUGH GOLF AS A LIFE TOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED AND OPERATED TO PROVIDE FUNDING SUPPORT FOR THE CABO SAN LUCAS FIRST TEE WHICH INFLUENCES THE LIVES OF YOUNG PEOPLE THROUGH EDUCATIONAL PROGRAMS THAT BUILD CHARACTER, INSTILL LIFE-ENRICHING VALUES, AND PROMOTE HEALTHY LESSONS THROUGH GOLF AS A LIFE TOOL. IN 2021 THERE WERE 6 SESSIONS FOR 4 HOURS EACH, SERVICING ABOUT 70 KIDS A WEEK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia Panoff Director | Trustee | 5 | $0 |
Kenneth Jowdy Director | Trustee | 1 | $0 |
Wallace Joyner Director | Trustee | 1 | $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 | $254,881 |
| Noncash contributions included in lines 1a–1f | $54,027 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,881 |
| Total Program Service Revenue | $0 |
| Investment income | $311 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $263,850 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $519,042 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Fees for services: Legal | $4,536 |
| Fees for services: Accounting | $2,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,513 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,244 |
| 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 | $91,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,141 |
| Savings and temporary cash investments | $154 |
| 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 | $220,837 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $453,132 |
| 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 | $8,566 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,566 |
| Net assets without donor restrictions | $444,566 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $453,132 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Diamante First Tee Foundation has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $25,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Hunt Family Foundation El Paso, TX | $209,998 | $8,850,500 |
Fields & Futures Foundation Edmond, OK | $7,089,979 | $3,122,717 |
Fred And Mabel R Parks Foundation Sugar Land, TX | $40,658,394 | $6,321,211 |
Ray C Fish Foundation Houston, TX | $19,704,977 | $3,385,819 |
Central Athletic Foundation Greenwell Springs, LA | $1,959,476 | $1,183,542 |
Central Austin Hockey Association Austin, TX | $51,155 | $326,304 |
Archers Usa Foundation Alma, AR | $3,557 | $344,427 |
Boswell Athletic Booster Club Fort Worth, TX | $192,970 | $338,620 |
Diamond Sports Association Inc San Antonio, TX | $128,577 | $302,415 |
Albuquerque Baseball Acedemy Touch Em All Foundation Albuquerque, NM | $1,166,650 | $463,239 |
Jonesboro City Stars Booster Club Jonesboro, AR | $71,116 | $296,938 |
Biles World Champions Gymnastics Foundation Spring, TX | $95,309 | $227,574 |