Texas A & M University-Corpus Christi Foundation Inc
- Assets
- $49.6m
- Revenue
- $3.7m
- Investments
- $1.2m
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 07/2002
- Data as of
- 03/2022
- EIN
- 74-2491445
Organization Overview
Texas A & M University-Corpus Christi Foundation Inc is located in Corpus Christi, TX. The organization was established in 2002. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Texas A & M University-Corpus Christi 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 03/2022, Texas A & M University-Corpus Christi Foundation Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $2.2m during the year ending 03/2022. While expenses have increased by 1.5% 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 2015, Texas A & M University-Corpus Christi Foundation Inc has awarded 40 individual grants totaling $14,697,987. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOR THE BENEFIT OF TEXAS A&M UNIVERSITY - CORPUS CHRISTI
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND ALLOCATIONS MADE FOR THE PURPOSE OF SUPPORTING THE ACTIVITIES OF TEXAS A&M UNIVERISTY - CORPUS CHRISTI UPON THE REQUEST OF THE UNIVERSITY'S PRESIDENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Stephens President | OfficerTrustee | 2 | $0 |
Ben Wallace Past President | OfficerTrustee | 1 | $0 |
Ed Cantu Secretary | OfficerTrustee | 1 | $0 |
Rosie Vela Treasurer | OfficerTrustee | 1 | $0 |
Nancy Eshleman Vice President | OfficerTrustee | 1 | $0 |
Dr Gregg Silverman Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $568,553 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $568,553 |
| Total Program Service Revenue | $0 |
| Investment income | $1,039,745 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $46,377 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,492,624 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,688,981 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,838,079 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,810 |
| Fees for services: Accounting | $119,302 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,659 |
| Fees for services: Other | $75,000 |
| Advertising and promotion | $0 |
| Office expenses | $186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,589 |
| All other expenses | $1,608 |
| Total functional expenses | $2,161,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,738,824 |
| Pledges and grants receivable | $154,519 |
| Accounts receivable, net | $41,904 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,212 |
| Net Land, buildings, and equipment | $1,833 |
| Investments—publicly traded securities | $46,341,364 |
| Investments—other securities | $1,212,031 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $101,156 |
| Total assets | $49,595,843 |
| Accounts payable and accrued expenses | $4,680 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,680 |
| Net assets without donor restrictions | $7,670,778 |
| Net assets with donor restrictions | $41,920,385 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,595,843 |
Grants Awarded
Over the last fiscal year, Texas A & M University-Corpus Christi Foundation Inc has awarded $1,837,079 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS A&M UNIVERSITY - CORPUS CHRISTI PURPOSE: SCHOLARSHIPS | $986,000 |
TEXAS A&M UNIVERSITY - CORPUS CHRISTI PURPOSE: ACADEMIC PROGRAMS | $786,100 |
TEXAS A&M UNIVERSITY - CORPUS CHRISTI PURPOSE: UNIVERSITY ENHANCEMENTS | $64,979 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Texas A & M University-Corpus Christi Foundation Inc has recieved totaling $408,524.
| Awarding Organization | Amount |
|---|---|
Coastal Bend Community Foundation Corpus Christi, TX PURPOSE: PROGRAM SUPPORT | $75,350 |
Frazier Family Foundation Inc Corpus Christi, TX PURPOSE: PAYMENT FOR SCHOLARSHIPS | $75,000 |
Warren Foundation Corpus Christi, TX PURPOSE: SCHOLARSHIPS, UNIVERSITY ENHANCEMENT | $50,676 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX PURPOSE: TO UNDERSTAND THE SOCIO-ECONOMIC DRIVERS OF IMPAIRED WATER IN TEXAS | $50,000 |
John G & Marie Stella Kenedy Memorial Foundation Corpus Christi, TX PURPOSE: Scholarship Assistance | $35,000 |
Jacob & Terese Hershey Foundation Houston, TX PURPOSE: TOWARD A REVIEW OF FRESHWATER INFLOWS INTO TEXAS BAYS AND ESTUARIES | $33,000 |
Endowment Analysis
| Beg. Balance | $50,146,326 |
| Earnings | $821,676 |
| Admin Expense | $226,494 |
| Net Contributions | $568,553 |
| Grants | $1,838,079 |
| Ending Balance | $49,471,982 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
New Mexico State University Foundation Inc Las Cruces, NM | $355,498,587 | $111,307,691 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Texas Law School Foundation Austin, TX | $263,458,115 | $22,437,207 |
Dallas Seminary Foundation Dallas, TX | $76,216,359 | $8,000,736 |
Sul Ross State University Foundation Alpine, TX | $1,687,998 | $1,230,429 |
University Of New Orleans Foundation New Orleans, LA | $129,213,862 | $21,783,517 |
Grambling High Foundation Grambling, LA | $36,491,619 | $11,923,300 |
University Of Houston Foundation Houston, TX | $176,095,945 | $16,062,659 |