Woodforest Charitable Foundation
- Assets
- $133.2m
- Revenue
- $10.4m
- Investments
- $124.9m
- Employees
- 0
- Location
- The Woodlands, TX
- Founding
- 05/2005
- Data as of
- 12/2023
- 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 12/2023, Woodforest Charitable Foundation generated $10.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $9.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Woodforest Charitable Foundation has awarded 1,624 individual grants totaling $30,736,142. 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
2023
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 | |
Taylor Dio Advisory Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,465,395 |
| Interest on Savings | $265,223 |
| Dividends & Interest | $1,167,069 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $528,934 |
| Capital Gain Net Income | $528,934 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$21,923 |
| Total Revenue | $10,404,698 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $34,529 |
| Taxes | $94,043 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25,052 |
| Total operating and administrative expenses | $606,286 |
| Contributions, gifts, grants paid | $8,866,140 |
| Total expenses and disbursements | $9,472,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,643,889 |
| Net Accounts receivable | $717,698 |
| 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 | $133,212,930 |
| 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 | $4,750,905 |
| Total liabilities | $4,750,905 |
Grants Awarded
Over the last fiscal year, Woodforest Charitable Foundation has awarded $12,331,919 in support to 220 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON CANTON FOOD BANK PURPOSE: SUPPORT OF GENERAL PROGRAMS | $6,450 |
ACTS - ACTION IN COMMUNITY THROUGH SERVICE PURPOSE: SUPPORT OF GENERAL PROGRAMS | $2,430 |
ABUNDANE HARVEST KITCHEN PURPOSE: SUPPORT OF GENERAL PROGRAMS | $7,500 |
ANGEL FLIGHT PURPOSE: SUPPORT OF GENERAL PROGRAMS | $10,000 |
ANGEL REACH PURPOSE: SUPPORT OF GENERAL PROGRAMS | $15,000 |
ATLANTA COMMUNITY FOOD BANK PURPOSE: SUPPORT OF GENERAL PROGRAMS | $9,000 |