The Credence Foundation
- Assets
- $1.1m
- Revenue
- $123.7k
- Investments
- $931.0k
- Employees
- 0
- Location
- Bellaire, TX
- Founding
- 08/2010
- Data as of
- 12/2023
- EIN
- 27-2931971
Organization Overview
The Credence Foundation is located in Bellaire, TX. The organization was established in 2010. 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. Credence 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, Credence Foundation generated $123.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.3%) each year. All expenses for the organization totaled $74.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (20.2%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Credence Foundation has awarded 119 individual grants totaling $244,217. 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 |
|---|---|---|---|
Cynthia L Ruder President | 4.5 | $0 | |
Terrence L Ruder Secretary/treasurer | 4.9 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,350 |
| Interest on Savings | $0 |
| Dividends & Interest | $31,065 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $91,292 |
| Capital Gain Net Income | $91,292 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $123,707 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,352 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65 |
| Total operating and administrative expenses | $7,153 |
| Contributions, gifts, grants paid | $67,021 |
| Total expenses and disbursements | $74,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,455 |
| Savings and temporary cash investments | $0 |
| 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 | $50,701 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,054,483 |
| 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, The Credence Foundation has awarded $67,021 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
CATHERINE'S HOUSE INC PURPOSE: PROVIDE FUNDS FOR TRANSITIONAL HOUSING FOR HOMELESS WOMEN AND CHILDREN | $1,000 |
CATHOLIC RELIEF SERVICES PURPOSE: PROVIDE FUNDS TO SUPPORT SERVICES PROVIDED TO IMPOVERISHED AND DISADVANTAGED PEOPLE STARVING IN SOMALIA AND KENYA. | $1,000 |
CROSS CATHOLIC OUTREACH PURPOSE: PROVIDE FUNDS FOR HOUSING, FOOD, WATER, AND MEDICAL CARE FOR IMPOVERISHED FAMILIES. | $38,237 |
CYNTHIA ROMERO PURPOSE: PAYMENT FOR HOUSING | $991 |
ILHAMUDIN KHADIMZAI PURPOSE: PAYMENT FOR HOUSING | $675 |
INDIGENT PERSON HOMELESS PURPOSE: PAYMENT FOR FOOD | $13 |