Spence Asset Management Foundation
- Assets
- $37.4k
- Revenue
- $40.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Las Cruces, NM
- Founding
- 08/2012
- Data as of
- 12/2021
- EIN
- 45-5343478
Organization Overview
Spence Asset Management Foundation is located in Las Cruces, NM. The organization was established in 2012. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Spence Asset Management 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, Spence Asset Management Foundation generated $40.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $39.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE FOUNDATION IS TO SUPPORT LOCAL COMMUNITY ORGANIZATIONS BY GRANTS OR CONTRIBUTING FUNDS TO ORGANIZATIONS WITH A FOCUS ON EDUCATION AND HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Walton President | 0 | $0 | |
Sheila Walton Treasurer | 0 | $0 | |
Carrie Nestle Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $40,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $10 |
| Contributions, gifts, grants paid | $39,350 |
| Total expenses and disbursements | $39,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,389 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $37,389 |
| 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, Spence Asset Management Foundation has awarded $19,225 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS ORGANIZATIONS PURPOSE: SUPPORT LOCAL NON-PROFITS, SCHOOLS | $12,225 |
6TH MAN CLUB PURPOSE: SUPPORT HIGH SCHOOL ATHLETICS | $5,000 |
HEARTS FOR AUTISM PURPOSE: SUPPORT LOCAL NON-PROFIT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hirsch Family Foundation Dallas, TX | $52,981,348 | $34,969,949 |
Mufg Union Bank Foundation Ag Phoenix, AZ | $2,989,069 | $8,302,055 |
Smith Family Foundation Austin, TX | $2,063,167 | $8,401,265 |
Nancy Smith Hurd Foundation Tr San Antonio, TX | $73,883,656 | $7,181,888 |
Santander Consumer Usa Inc Foundation Dallas, TX | $61,196,374 | $60,000,000 |
Hal & Charlie Peterson Foundation Kerrville, TX | $63,600,144 | $3,895,944 |
Boone Family Foundation Dallas, TX | $0 | $1,805,045 |
William A Brookshire Foundation Lakeway, TX | $44,188,133 | $14,237,408 |
Con Alma Health Foundation Santa Fe, NM | $33,283,264 | $4,439,981 |
Frederick Gardner Cottrell Foundation Tucson, AZ | $56,298,507 | $10,451,853 |
One Gas Foundation Inc Tulsa, OK | $37,667,049 | $5,198,491 |
Call Foundation Salt Lake City, UT | $71,663,445 | $17,181,002 |