Asco Foundation
- Assets
- $14.1m
- Revenue
- $5.2m
- Investments
- $8.1m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 03/2012
- Data as of
- 12/2021
- EIN
- 45-6659354
Organization Overview
Asco Foundation is located in Lubbock, TX. The organization was established in 2012. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Asco 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, Asco Foundation generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 58.0% each year . All expenses for the organization totaled $289.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Asco Foundation has awarded 28 individual grants totaling $211,848. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wb Brax Wright Trustee | 1 | $0 | |
John Stephen Wright Trustee | 1 | $0 | |
Paula Wright Key Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,000 |
| Interest on Savings | $32,931 |
| Dividends & Interest | $42,271 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $85,366 |
| Capital Gain Net Income | $85,366 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $49,566 |
| Total Revenue | $5,210,134 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $111,477 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $36,159 |
| Total operating and administrative expenses | $147,636 |
| Contributions, gifts, grants paid | $141,820 |
| Total expenses and disbursements | $289,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,001,887 |
| 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 | $8,140,652 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,142,539 |
| 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, Asco Foundation has awarded $141,820 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
GARY SINESE FOUNDATION PURPOSE: GENERAL PURPOSE | $64,870 |
LAURA W BUSH INSTITUTE FOR WOMENS H PURPOSE: GENERAL PURPOSE | $25,000 |
ALL SAINTS SCHOOL PURPOSE: GENERAL PURPOSE | $10,000 |
Lubbock, TX PURPOSE: GENERAL PURPOSE | $5,500 |
COVENANT HOSPITAL FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000 |
CASA OF THE SOUTH PLAINS PURPOSE: GENERAL PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Walton Family Charitable Support Foundation Inc Bentonville, AR | $1,144,906,373 | $82,175,150 |
J A & Leta M Chapman Charitable Tr Tulsa, OK | $1,004,993,686 | $116,236,869 |
Leta Mcfarlin Chapman Memorial Tr Tulsa, OK | $288,782,253 | $9,376,594 |
Nancy Ann Hunt Foundation Dallas, TX | $31,623,544 | $3,101,295 |
Don & Sybil Harrington Foundation Amarillo, TX | $137,610,156 | $21,691,315 |
John G Kenedy Jr Charitable Trust San Antonio, TX | $156,709,366 | $16,142,301 |
Bnsf Foundation Fort Worth, TX | $5,580,534 | $10,145,505 |
Walter S & Evan C Jones Trust Bank Iv Kansas Na Ttee Dallas, TX | $63,158,301 | $11,519,606 |
Thomas M & Helen Mckee & John P Ryan Foundation Inc Fort Worth, TX | $135,188,288 | $6,250,331 |
Charles G Woodward Tr Uw Dallas, TX | $129,576,152 | $18,439,245 |
John G Kenedy Jr Charitable Tr -Surface Estate Tr San Antonio, TX | $47,111,872 | $10,559,440 |
Mccombs Enterprises Flexible Benefit Cafeteria Plan & Trust San Antonio, TX | $5,330,904 | $6,919,349 |