Clements Family Foundation
- Assets
- $14.9m
- Revenue
- $1.2m
- Investments
- $13.9m
- Employees
- 0
- Location
- Tyler, TX
- Founding
- 03/2008
- Data as of
- 09/2024
- EIN
- 26-1770695
Organization Overview
Clements Family Foundation is located in Tyler, TX. The organization was established in 2008. 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. Clements Family 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 09/2024, Clements Family Foundation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $695.1k during the year ending 09/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Clements Family Foundation has awarded 87 individual grants totaling $5,527,043. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Clements President | 0 | $0 | |
Donna Clements Secretary | 0 | $0 | |
Megan Tarrant Treasurer | 0 | $0 | |
Abigail Wesson Vice President | 5 | $24,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $45,948 |
| Interest on Savings | $312,580 |
| Dividends & Interest | $326,635 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $500,421 |
| Capital Gain Net Income | $500,421 |
| Net ST Capital Gain | $7,538 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,185,584 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,122 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $107,601 |
| Contributions, gifts, grants paid | $587,500 |
| Total expenses and disbursements | $695,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,012,082 |
| 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 | $4,856,136 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,943,680 |
| 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, Clements Family Foundation has awarded $587,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HARBOR OF HOPE PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION. | $10,000 |
NEW CREATION FOUNDATION PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION. | $2,500 |
BROOK HILL SCHOOL PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION. | $50,000 |
UT TYLER PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION. | $100,000 |
TRINITY FELLOWSHIP CHURCH PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION. | $10,000 |
EAST TEXAS FOOD BANK PURPOSE: ASSISTANCE TO NON-PROFIT 501(C)3 ORGANIZATION | $50,000 |