Looney-Montgomery Foundation
- Assets
- $421.3k
- Revenue
- $3.5k
- Investments
- $180.6k
- Employees
- 0
- Location
- Edinburg, TX
- Founding
- 10/1948
- Data as of
- 12/2022
- EIN
- 74-6050563
Organization Overview
Looney-Montgomery Foundation is located in Edinburg, TX. The organization was established in 1948. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Looney-Montgomery 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, Looney-Montgomery Foundation generated $3.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (31.9%) each year. All expenses for the organization totaled $30.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (28.1%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Looney-Montgomery Foundation has awarded 43 individual grants totaling $163,875. 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 |
|---|---|---|---|
Cullen R Looney President | 0 | $0 | |
Carol L Looney Vp/sec/treas | 0 | $0 | |
Courtney Looney VP | 0 | $0 | |
Lorin Runnels Vp/asst Sec | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,796 |
| Dividends & Interest | $3,044 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,366 |
| Capital Gain Net Income | $3,250 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,474 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $198 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,951 |
| Total operating and administrative expenses | $4,527 |
| Contributions, gifts, grants paid | $25,875 |
| Total expenses and disbursements | $30,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $240,653 |
| 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 | $421,262 |
| 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, Looney-Montgomery Foundation has awarded $25,875 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
LSMCIC PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $500 |
MUSEUM OF SOUTH TEXAS HISTORY PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $900 |
THE UNIV OF TEXAS-RIO GRANDE VALLEY PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $1,000 |
THE UNIVERSITY OF TEXAS FOUNDATION PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $2,000 |
VANNIE E COOK JR CANCER FOUNDATIO PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $1,175 |
FOSTER ANGELS SOUTH TEXAS PURPOSE: TO ASSIST WITH OPERATING EXPENSES | $750 |