Luther & Teresa King Fam Foundation
- Assets
- $25.5m
- Revenue
- $8.9m
- Investments
- $20.8m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 02/2006
- Data as of
- 06/2022
- EIN
- 20-3781741
Organization Overview
Luther & Teresa King Fam Foundation is located in Fort Worth, TX. The organization was established in 2006. 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. Luther & Teresa King Fam 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 06/2022, Luther & Teresa King Fam Foundation generated $8.9m in total revenue. All expenses for the organization totaled $812.0k during the year ending 06/2022. While expenses have increased by 16.4% per year over the past 6 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, Luther & Teresa King Fam Foundation has awarded 42 individual grants totaling $2,846,200. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa A King President | 1 | $0 | |
J Luther King Jr Vp, Sec, Treas. | 1 | $0 | |
John Bryan King Vice President | 1 | $0 | |
Mason Daniel King Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $282,487 |
| Interest on Savings | $0 |
| Dividends & Interest | $427,286 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,193,995 |
| Capital Gain Net Income | $8,193,995 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,810 |
| Total Revenue | $8,910,578 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $141,286 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,881 |
| Total operating and administrative expenses | $162,034 |
| Contributions, gifts, grants paid | $650,000 |
| Total expenses and disbursements | $812,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,231 |
| Savings and temporary cash investments | $4,752,831 |
| 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 | $1,000,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,534,156 |
| 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, Luther & Teresa King Fam Foundation has awarded $650,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
MADISON RIVER FOUNDATION PURPOSE: CONSERVATION PROJECTS | $1,000 |
MADISON VALLEY MEDICAL CENTER PURPOSE: MEDICAL EQUIPMENT | $1,000 |
ST MARK'S SCHOOL OF TEXAS PURPOSE: ALUMNI FOUNDATION | $25,000 |
TEXAS CHRISTIAN UNIVERSITY PURPOSE: SCHOLARSHIP FUND | $338,000 |
PRINCETON UNIVERSITY ART MUSEUM PURPOSE: SCHOLARSHIP FUND | $25,000 |
FORT WORTH COUNTRY DAY SCHOOL PURPOSE: BUILDING FUND | $250,000 |