Centerpoint Energy Foundation Inc
- Assets
- $59.5m
- Revenue
- $5.3m
- Investments
- $52.9m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 05/1995
- Data as of
- 12/2022
- 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 12/2022, Centerpoint Energy Foundation Inc generated $5.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (20.3%) each year. All expenses for the organization totaled $17.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Centerpoint Energy Foundation Inc has awarded 1,146 individual grants totaling $35,283,069. 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
2022
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 |
|---|---|---|---|
Amanda Schmitt President | 1 | $0 | |
Brett A Jerasa Assistant Treasurer | 1 | $0 | |
Mark Deboer Treasurer | 1 | $0 | |
Madeleine Neet Secretary | 1 | $0 | |
Jason P Wells Director | 1 | $0 | |
Monica Karuturi Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,000 |
| Interest on Savings | $194,623 |
| Dividends & Interest | $1,009,101 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,046,149 |
| Capital Gain Net Income | $1,046,149 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $90,665 |
| Total Revenue | $5,340,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $109,520 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $412,472 |
| Total operating and administrative expenses | $762,880 |
| Contributions, gifts, grants paid | $16,352,194 |
| Total expenses and disbursements | $17,115,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,732,254 |
| 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 | $1,726,902 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,700 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $59,485,017 |
| Accounts payable and accrued expenses | $334,812 |
| 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 | $1,726,902 |
| Total liabilities | $2,061,714 |
Grants Awarded
Over the last fiscal year, Centerpoint Energy Foundation Inc has awarded $16,352,194 in support to 500 organizations.
| Grant Recipient | Amount |
|---|---|
100 BLACK MEN OF METROPOLITAN HOUSTON INC PURPOSE: GENERAL DONATION | $25,000 |
ACCESSABILITY INC PURPOSE: GENERAL DONATION | $10,000 |
AABE FOUNDATION INC PURPOSE: GENERAL DONATION | $50,000 |
ADULT EDUCATION CENTER PURPOSE: GENERAL DONATION | $10,000 |
ACHIEVE TWIN CITIES PURPOSE: GENERAL DONATION | $15,000 |
AEON PURPOSE: GENERAL DONATION | $25,000 |