The Credence Foundation
- Assets
- $927.1k
- Revenue
- $141.2k
- Investments
- $801.1k
- Employees
- 0
- Location
- Houston, TX
- Founding
- 08/2010
- Data as of
- 12/2021
- EIN
- 27-2931971
Organization Overview
The Credence Foundation is located in Houston, 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 12/2021, Credence Foundation generated $141.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $55.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Credence Foundation has awarded 89 individual grants totaling $123,973. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terrence L Ruder Secretary/treasurer | 5.1 | $0 | |
Cynthia L Ruder President | 2.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $102,482 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,856 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,808 |
| Capital Gain Net Income | $14,808 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,101 |
| Total Revenue | $141,247 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,483 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $91 |
| Total operating and administrative expenses | $6,647 |
| Contributions, gifts, grants paid | $48,909 |
| Total expenses and disbursements | $55,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,934 |
| 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 | $97,083 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $927,073 |
| 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 $48,909 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
RONY VALENZUELA PURPOSE: PAYMENTS FOR HOUSING AND UTILITIES | $7,748 |
San Diego, CA PURPOSE: PROVIDE FUNDS TO ASSIST IMPOVERISHED AND DISADVANTAGED CHILDREN AND FAMILIES PROVIDING FOOD, HOUSING, HEALTHCARE AND EDUCATION. | $6,000 |
MARTIN BUESO PURPOSE: PAYMENTS FOR HOUSING | $3,600 |
BESSY HERNANDEZ PURPOSE: PAYMENTS FOR MEDICAL CARE | $2,799 |
AUDREY BARNES PURPOSE: PAYMENTS FOR HOUSING | $2,250 |
MARIA IBARRA PURPOSE: PAYMENTS FOR HOUSING | $2,160 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hoblitzelle Foundation Dallas, TX | $135,054,358 | $12,987,577 |
Hillcrest Foundation Dallas, TX | $133,849,487 | $13,362,957 |
Huffington Foundation Houston, TX | $143,567,137 | $11,559,123 |
Marilyn And Sonny Oates Foundation Dallas, TX | $9,716,063 | $15,482,909 |
Frank E & Seba B Payne Foundation 31-55459-5 Dallas, TX | $0 | $7,949,536 |
Ewing Halsell Foundation San Antonio, TX | $128,225,154 | $18,962,628 |
Knobloch Family Foundation Houston, TX | $166,642,525 | $7,681,170 |
Irene W And C B Pennington Foundation Baton Rouge, LA | $0 | $6,041,681 |
Hamon Charitable Foundation Dallas, TX | $77,984,763 | $10,364,017 |
Alumbra Innovations Foundation Bentonville, AR | $55,483,470 | $25,346,784 |
Biogen Foundation Inc Dallas, TX | $25,561,498 | $3,880,862 |
The Margaret And Al Hill Family Foundation Dallas, TX | $0 | $526,228 |