Walter Connally Powell Jr Foundation
- Assets
- $1.9m
- Revenue
- $295.9k
- Investments
- $1.8m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 02/2015
- Data as of
- 12/2023
- EIN
- 47-2091696
Organization Overview
Walter Connally Powell Jr Foundation is located in Dallas, TX. The organization was established in 2015. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walter Connally Powell Jr 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 12/2023, Walter Connally Powell Jr Foundation generated $295.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $207.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Walter Connally Powell Jr Foundation has awarded 210 individual grants totaling $1,380,941. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED SCHOLARSHIPS TO FOUR (4) INDIVIDUALS TO FUND SUCH INDIVIDUALS PARTICIPATION IN BEER BREWING AND MALTING EDUCATIONAL COURSES.
GRANTS TOTALING $195,406.00 WERE AWARDED TO TWENTY-ONE (21) 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Connally Powell President | 3.75 | $0 | |
Bolivia C Powell Vice President | 3.75 | $0 | |
Edward D Biggers Secretary | 0.5 | $0 | |
Frederick E Clarke IV Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $221,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $77,009 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,571 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $295,938 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $519 |
| Taxes | $16 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $544 |
| Total operating and administrative expenses | $12,453 |
| Contributions, gifts, grants paid | $195,406 |
| Total expenses and disbursements | $207,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,005 |
| Savings and temporary cash investments | $10,391 |
| 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 | $1,039,043 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,859,781 |
| 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, Walter Connally Powell Jr Foundation has awarded $195,406 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
SAMARITAN'S PURSE PURPOSE: CHARITABLE CONTRIBUTION | $35,000 |
RESPONSIBLE PET OWNERS PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
MASTER BREWERS ASSN OF AMERICA PURPOSE: SCHOLARSHIP | $16,904 |
THE INDEPENDENCE FUND PURPOSE: CHARITABLE CONTRIBUTION | $16,000 |
GARY SINISE FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
MERCURY ONE INC PURPOSE: CHARITABLE CONTRIBUTION | $3,000 |