Luke And Becky Corbett Foundation
- Assets
- $4.9m
- Revenue
- $503.8k
- Investments
- $4.8m
- Employees
- 0
- Location
- Edmond, OK
- Founding
- 12/2006
- Data as of
- 12/2021
- EIN
- 20-5201343
Organization Overview
Luke And Becky Corbett Foundation is located in Edmond, OK. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Luke And Becky Corbett 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, Luke And Becky Corbett Foundation generated $503.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $338.4k during the year ending 12/2021. While expenses have increased by 13.4% 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 2015, Luke And Becky Corbett Foundation has awarded 61 individual grants totaling $1,438,825. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lucius Corbett President/board Member | 0 | $0 | |
Sally Rebecca Corbett Secretary/board Member | 0 | $0 | |
Carrie Corbett Loxton Board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $51,396 |
| Dividends & Interest | $92,804 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $359,623 |
| Capital Gain Net Income | $359,624 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $503,823 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,027 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $40,445 |
| Contributions, gifts, grants paid | $298,000 |
| Total expenses and disbursements | $338,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $68,466 |
| Net Accounts receivable | $2,193 |
| 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 | $4,914,332 |
| Accounts payable and accrued expenses | $1,717 |
| 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 | $1,717 |
Grants Awarded
Over the last fiscal year, Luke And Becky Corbett Foundation has awarded $298,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Oklahoma City, OK PURPOSE: GENERAL FUND | $100,000 |
Oklahoma City, OK PURPOSE: GENERAL FUND | $50,000 |
NEW COVENANT UNITED METHODIST CHURCH PURPOSE: GENERAL FUND | $47,000 |
UNITED WAY OF CENTRAL OKLAHOMA PURPOSE: GENERAL FUND | $45,000 |
HOPE CENTER OF EDMOND PURPOSE: GENERAL FUND | $12,500 |
Edmond, OK PURPOSE: GENERAL FUND | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Gates Family Foundation Denver, CO | $458,247,303 | $68,267,243 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |