Woodforest Charitable Foundation
- Assets
- $119.2m
- Revenue
- $14.1m
- Investments
- $116.7m
- Employees
- 0
- Location
- The Woodlands, TX
- Founding
- 05/2005
- Data as of
- 12/2021
- EIN
- 20-2516951
Organization Overview
Woodforest Charitable Foundation is located in The Woodlands, TX. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Woodforest Charitable 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 12/2021, Woodforest Charitable Foundation generated $14.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. While expenses have increased by 13.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Woodforest Charitable Foundation has awarded 1,191 individual grants totaling $13,260,337. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Marling Jr President | 2 | $0 | |
Kim Marling Executive Vice President | 30 | $0 | |
Vicki Richmond Secretary | 10 | $0 | |
Charles Marling Treasurer | 10 | $0 | |
George Sowers Director | 10 | $0 | |
Brittney Marling Advisory Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,991,090 |
| Interest on Savings | $254,140 |
| Dividends & Interest | $923,378 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,796,191 |
| Capital Gain Net Income | $3,796,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $109,131 |
| Total Revenue | $14,073,930 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $17,220 |
| Taxes | $61,703 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,877 |
| Total operating and administrative expenses | $721,921 |
| Contributions, gifts, grants paid | $2,893,923 |
| Total expenses and disbursements | $3,615,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,435,584 |
| 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 | $119,175,077 |
| 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 | $588,895 |
| Total liabilities | $588,895 |
Grants Awarded
Over the last fiscal year, Woodforest Charitable Foundation has awarded $2,893,923 in support to 207 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: SUPPORT OF GENERAL PROGRAMS | $1,100,000 |
FREEDOM FOUNDATION PURPOSE: SUPPORT OF GENERAL PROGRAMS | $197,623 |
BOY'S AND GIRL'S COUNTRY PURPOSE: SUPPORT OF GENERAL PROGRAMS | $100,000 |
CHILDRENS SAFE HARBOR PURPOSE: SUPPORT OF GENERAL PROGRAMS | $100,000 |
SPECIAL PROGRAM - TEXAS CHILDRENS HOSPITAL (JAN AND DAN DUNCAN NRI) PURPOSE: SUPPORT OF GENERAL PROGRAMS | $100,000 |
SPECIAL PROGRAM - CYPRESS CHRISTIAN SCHOOL PURPOSE: SUPPORT OF GENERAL PROGRAMS | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Woodforest Charitable Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Pfs Foundation Houston, TX PURPOSE: SUPPORTS FOOD BANKS AND ORGANIZATIONS INVOLVED WITH HEALTH, HUMAN SERVICES, AND COMMUNITY DEVELOPMENT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |
Union General Hospital Farmerville, LA | $25,999,661 | $20,373,665 |
Karakin Foundation Abilene, TX | $132,653,937 | $29,351,833 |
Fore Kids Foundation Inc Avondale, LA | $11,128,381 | $16,554,167 |
Addy Foundation Dallas, TX | $79,281,983 | $6,993,780 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Stanley E Fulton Family Foundation Dallas, TX | $203,743,171 | -$10,523,305 |
Srb Charitable Corporation Fort Worth, TX | $75,222,672 | $6,910,443 |
Jay Pritzker Foundation Houston, TX | $33,789,125 | $2,840,542 |
Greehey Family Foundation San Antonio, TX | $169,607,829 | $20,192,503 |
Eula Mae And John Baugh Foundation Jersey Village, TX | $172,592,135 | $27,686,076 |