Texo Foundation
- Assets
- $1.2m
- Revenue
- $117.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Dallas, TX
- Founding
- 02/1989
- Data as of
- 12/2022
- EIN
- 75-2255527
Organization Overview
Texo Foundation is located in Dallas, TX. The organization was established in 1989. 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. Texo 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, Texo Foundation generated $117.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $160.5k during the year ending 12/2022. While expenses have increased by 1.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE DEVELOP INNOVATIVE PROGRAMS, PROVIDE SCHOLARSHIPS, OFFER EDUCATION GRANTS, WHICH SUPPORT THE CONSTRUCTION EDUCATION COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY GRANTS AND STUDENT SCHOLARSHIPS IN AREAS OF CONSTRUCTION AND CIVIL ENGINEERING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meloni Raney President/ceo | Officer | 8 | $0 |
Todd Holtz VP Of Operations | 1 | $0 | |
Ashlyn Smith VP Of Member Programs And Serv | 2 | $0 | |
Larinda Smith Texo Fdn Manager Start: 03/22 | Officer | 40 | $62,868 |
Josh Carson Past Chair End: 12/22 | OfficerTrustee | 1 | $0 |
Beck Dando Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $78,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,593 |
| Total Program Service Revenue | $36,314 |
| Investment income | $20,232 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$34,522 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $117,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $34,127 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $68,809 |
| Compensation of current officers, directors, key employees. | $68,809 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,217 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,581 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,048 |
| Fees for services: Other | $0 |
| Advertising and promotion | $918 |
| Office expenses | $23,119 |
| Information technology | $526 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $156 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,182 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,526 |
| All other expenses | $0 |
| Total functional expenses | $160,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,308 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,169 |
| 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 | $11,938 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,072,215 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,220,630 |
| Accounts payable and accrued expenses | $8,566 |
| Grants payable | $0 |
| Deferred revenue | $7,000 |
| 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 | $12,356 |
| Total liabilities | $27,922 |
| Net assets without donor restrictions | $1,067,294 |
| Net assets with donor restrictions | $125,414 |
| 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 | $1,220,630 |
Grants Awarded
Over the last fiscal year, Texo Foundation has awarded $25,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
OKLAHOMA STATE UNIVERSITY PURPOSE: EDUCATIONAL NEEDS | $8,000 |
SOUTHEASTERN OKLAHOMA STATE UNIVERSITY PURPOSE: EDUCATIONAL NEEDS | $8,000 |
TEXAS A&M UNIVERSITY- COMMERCE PURPOSE: EDUCATIONAL NEEDS | $9,000 |