Joseph W Craft Iii Foundation
- Assets
- $122.1m
- Revenue
- $23.0m
- Investments
- $33.8m
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 06/1997
- Data as of
- 12/2022
- EIN
- 73-1514539
Organization Overview
Joseph W Craft Iii Foundation is located in Tulsa, OK. The organization was established in 1997. 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. Joseph W Craft Iii 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 12/2022, Joseph W Craft Iii Foundation generated $23.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $12.8m during the year ending 12/2022. While expenses have increased by 20.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Joseph W Craft Iii Foundation has awarded 117 individual grants totaling $30,378,923. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE JOSEPH W. CRAFT, III FOUNDATION IS A NON-OPERATING PRIVATE FOUNDATION WHICH MAKES GIFTS TO CHARITABLE ORGANIZATIONS. THE FOUNDATION DOES NOT OPERATE ANY FACILITY OR INSTITUTION UNDERTAKING A CHARITABLE, EDUCATIONAL, OR RELIGIOUS ENDEAVOR.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,109 |
| Dividends & Interest | $1,548,568 |
| Net Rental Income | $120,000 |
| Net Gain on Sale of Assets | $10,720,812 |
| Capital Gain Net Income | $9,592,399 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,584,703 |
| Total Revenue | $22,976,192 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $4,357 |
| Taxes | $494,592 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,118,652 |
| Total operating and administrative expenses | $7,636,399 |
| Contributions, gifts, grants paid | $5,121,563 |
| Total expenses and disbursements | $12,757,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,824,575 |
| Savings and temporary cash investments | $37,752,328 |
| 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 | $24,709,757 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,852,611 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $122,082,052 |
| 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, Joseph W Craft Iii Foundation has awarded $5,121,563 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
PASS THRU FROM K1'S PURPOSE: CHARITABLE | $6,068 |
UNIVERSITY OF KENTUCKY PURPOSE: CHARITABLE | $120,000 |
PARENT CHILD CENTER OF TULSA PURPOSE: CHARITABLE | $10,000 |
GEORGE W BUSH FOUNDATION PURPOSE: CHARITABLE | $100,000 |
MSU FOUNDATION PURPOSE: CHARITABLE | $950,000 |
AWESOME CENTER FOR ENTREPRENEURSHIP PURPOSE: CHARITABLE | $25,000 |