Cartmell Foundation Inc
- Assets
- $16.5m
- Revenue
- $658.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Palestine, TX
- Founding
- 05/2003
- Data as of
- 06/2022
- EIN
- 03-0383843
Organization Overview
Cartmell Foundation Inc is located in Palestine, TX. The organization was established in 2003. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., 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. Cartmell 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 06/2022, Cartmell Foundation Inc generated $658.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $986.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ASSETS TO BE USED FOR THE CARE OF THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF ASSISTED LIVING FACILITY FOR ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Smith Vice-Chairman | OfficerTrustee | 1 | $0 |
David Barnard Chairman | OfficerTrustee | 1 | $0 |
Ahnise Summers Secretary | OfficerTrustee | 1 | $0 |
Cad Williams Voting Board Member | Trustee | 1 | $0 |
Phil Jenkins Voting Board Member | 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 | $1,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,025 |
| Total Program Service Revenue | $480,276 |
| Investment income | $21,556 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $156,022 |
| 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 | $658,879 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $541,835 |
| 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 | $0 |
| Fees for services: Accounting | $12,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,088 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $140,423 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $280,067 |
| Insurance | $995 |
| All other expenses | $6,045 |
| Total functional expenses | $986,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,075 |
| Savings and temporary cash investments | $3,984,756 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,020 |
| 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 | $327 |
| Net Land, buildings, and equipment | $12,085,957 |
| Investments—publicly traded securities | $337,475 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,274 |
| Total assets | $16,463,884 |
| Accounts payable and accrued expenses | $737,657 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $4,007,704 |
| 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 | $4,745,361 |
| Net assets without donor restrictions | $11,672,973 |
| Net assets with donor restrictions | $45,550 |
| 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 | $16,463,884 |
Grants Awarded
Over the last fiscal year, Cartmell Foundation Inc has awarded $503,693 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Palestine, TX PURPOSE: CHARITABLE | $495,140 |
Palestine, TX PURPOSE: HEALTH & FITNESS | $8,553 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cartmell Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Summers Foundation Palestine, TX PURPOSE: BUILDING FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sol Care Services Inc Pharr, TX | $783,235 | $9,414,594 |
Allen Community Outreach Allen, TX | $5,306,169 | $7,386,695 |
Interfaith Family Services Dallas, TX | $16,288,869 | $3,010,094 |
Open Door Mission Houston, TX | $3,700,671 | $2,681,570 |
Alliance Of Community Assistance Ministries Inc Houston, TX | $2,037,353 | $3,363,291 |
United Way Of Midland Inc Midland, TX | $10,242,338 | $2,432,604 |
Trusted World Foundation Garland, TX | $1,680,132 | $2,777,202 |
Positive Tomorrows Villa Campus Inc Oklahoma City, OK | $13,161,961 | $276,728 |
Cartmell Foundation Inc Palestine, TX | $16,463,884 | $658,879 |
Frost & Sullivan Institute San Antonio, TX | $9,106,452 | $698,328 |
Texas Lighthouse Foundation Inc Galveston, TX | $507,583 | $950,707 |
Orphan Secure Lewisville, TX | $51,756 | $679,521 |