Howard College Foundation
- Assets
- $6.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Big Spring, TX
- Founding
- 06/1981
- Data as of
- 08/2021
- EIN
- 75-1732455
Organization Overview
Howard College Foundation is located in Big Spring, TX. The organization was established in 1981. 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. Howard College 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 08/2021, Howard College Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $299.5k during the year ending 08/2021. While expenses have increased by 2.3% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SUPPORT TO HOWARD COUNTY JUNIOR COLLEGE DISTRICT BY FUNDING GRANTS TO THE COLLEGE AND PROVIDING FUNDING FOR SCHOLARSHIP AWARDS ADMINISTERED BY THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND GRANTS FOR HOWARD COUNTY JUNIOR COLLEGE. THE FOUNDATION ONLY PROVIDES FUNDING; ALL ADMINISTRATION OF AWARDS IS PERFORMED BY THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Moore Vice President | OfficerTrustee | 0.2 | $0 |
Roy Worthy President | OfficerTrustee | 0.2 | $0 |
Justin Myers Treasurer | OfficerTrustee | 0.2 | $0 |
Jordan Partee Director | Trustee | 0.2 | $0 |
Jeanie Coor Director | Trustee | 0.2 | $0 |
Mark Morgan Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $975,334 |
| All other contributions, gifts, grants, and similar amounts not included above | $454,186 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,429,520 |
| Total Program Service Revenue | $0 |
| Investment income | $80,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,339 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,565,218 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $298,551 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9 |
| 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 | $950 |
| All other expenses | $0 |
| Total functional expenses | $299,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,178,977 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,030 |
| Investments—publicly traded securities | $5,470,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $86,677 |
| Total assets | $6,737,554 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,981,469 |
| Net assets with donor restrictions | $4,756,085 |
| 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 | $6,737,554 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Howard College Foundation has recieved totaling $195,000.
| Awarding Organization | Amount |
|---|---|
Dora Roberts Foundation Chicago, IL PURPOSE: GENERAL | $170,000 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: DELEK US SUPPORT ON BEHALF OF CORPORATE OFFICE | $25,000 |
Endowment Analysis
| Beg. Balance | $4,694,616 |
| Earnings | $770,187 |
| Admin Expense | $940 |
| Net Contributions | $1,379,150 |
| Grants | $226,464 |
| Ending Balance | $6,616,549 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |