Centerpoint Energy Foundation Inc
- Assets
- $70.8m
- Revenue
- $24.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 35-1950691
Organization Overview
Centerpoint Energy Foundation Inc is located in Houston, TX. The organization was established in 1995. 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. Centerpoint Energy Foundation Inc 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, Centerpoint Energy Foundation Inc generated $24.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $19.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Centerpoint Energy Foundation Inc has awarded 646 individual grants totaling $18,930,875. 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
THE FOUNDATION HAS A MATCHING GIFT PROGRAM & A REGULAR GIVING PROGRAM. FOR THE MATCHING GIFT PROGRAM, THE FOUNDATION MATCHES GIFTS MADE BY EMPLOYEES EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madeleine Neet Secretary | 1 | $0 | |
Monica Karuturi Director | 1 | $0 | |
Jason P Wells Director | 1 | $0 | |
Mark Deboer Treasurer | 1 | $0 | |
Brett A Jerasa Assistant Treasurer | 1 | $0 | |
Lynne Harkel-Rumford Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $16,126,952 |
| Interest on Savings | $231,967 |
| Dividends & Interest | $1,305,198 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,628,825 |
| Capital Gain Net Income | $6,628,825 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,292,942 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $112,823 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $146,041 |
| Total operating and administrative expenses | $522,095 |
| Contributions, gifts, grants paid | $18,930,875 |
| Total expenses and disbursements | $19,452,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,768,606 |
| 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 | $1,432,500 |
| 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 | $62,612,553 |
| Total assets | $70,813,659 |
| Accounts payable and accrued expenses | $183,320 |
| 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 | $1,432,500 |
| Total liabilities | $1,615,820 |
Grants Awarded
Over the last fiscal year, Centerpoint Energy Foundation Inc has awarded $18,930,875 in support to 646 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: COMPLETE COMMUNITIES HOME REPAIR PROGRAM | $1,200,000 |
Houston, TX PURPOSE: BETHUNE EMPOWERMENT CENTER | $1,000,000 |
Houston, TX PURPOSE: GENERAL DONATION | $1,000,000 |
STATE OF INDIANA GOVERNOR'S OFFICE PURPOSE: INDIANA EQUITY, INCLUSION AND OPPORTUNITY INITIATIVE | $750,000 |
DOWNTOWN EVANSVILLE CDC PURPOSE: 5TH AND MAIN HOUSING DEVELOPMENT | $750,000 |
Houston, TX PURPOSE: 2020 - 2021 UNITED WAY CAMPAIGN CNP CORPORATE GIFT | $650,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burnett Foundation Fort Worth, TX | $195,880,351 | $2,811,908 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Rapier Family Foundation San Antonio, TX | $15,198 | $1,321,420 |
Dan L Duncan Family Foundation Houston, TX | $0 | $27,292,814 |
Fmh Foundation Midland, TX | $321,253,044 | $148,706,487 |
Inasmuch Foundation Oklahoma City, OK | $394,422,796 | $49,887,073 |
Ting Tsung And Wei Fong Chao Foundation Houston, TX | $26,401,006 | $21,447,473 |
William K Warren Foundation Tulsa, OK | $318,898,600 | $38,179,587 |
Impetus Foundation San Antonio, TX | $248,495,187 | $85,291,192 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |