Norman H Read 1985 Trust
- Assets
- $61.0m
- Revenue
- $8.7m
- Investments
- $57.3m
- Employees
- 0
- Location
- Amarillo, TX
- Founding
- 10/1996
- Data as of
- 06/2022
- EIN
- 75-2622754
Organization Overview
Norman H Read 1985 Trust is located in Amarillo, TX. The organization was established in 1996. 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. Norman H Read 1985 Trust 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 06/2022, Norman H Read 1985 Trust generated $8.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $6.8m during the year ending 06/2022. While expenses have increased by 7.0% 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, Norman H Read 1985 Trust has awarded 27 individual grants totaling $36,161,740. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Corporate Tr | 20 | $597,678 | |
Nile L Albright Co-Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,749 |
| Dividends & Interest | $1,473,557 |
| Net Rental Income | $291,682 |
| Net Gain on Sale of Assets | $4,739,462 |
| Capital Gain Net Income | $4,739,462 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,079,074 |
| Total Revenue | $8,703,971 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $597,678 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,339 |
| Depreciation | $1,163 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,066 |
| Printing and publications | $0 |
| Other expenses | $145,208 |
| Total operating and administrative expenses | $968,142 |
| Contributions, gifts, grants paid | $5,848,446 |
| Total expenses and disbursements | $6,816,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,426,044 |
| 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 | $2 |
| Net Land, buildings, and equipment | $999,845 |
| Other assets | $252,410 |
| Total assets | $61,022,769 |
| 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, Norman H Read 1985 Trust has awarded $5,848,446 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ADVANCED MEDICAL RESEARCH PURPOSE: SCIENTIFIC AND MEDICAL RESEARCH | $2,924,223 |
MASS GENERAL BRIGHAM PURPOSE: MEDICAL RESEARCH PROGRAMS | $1,200,623 |
SALEM PUBLIC SCHOOLS PURPOSE: SCIENCE CENTER, AQUARIUM CTR, READ | $1,120,600 |
SALEM ACADEMY CHARTER SCHOOL PURPOSE: EDUCATION | $603,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |
Union General Hospital Farmerville, LA | $25,999,661 | $20,373,665 |
Karakin Foundation Abilene, TX | $132,653,937 | $29,351,833 |
Fore Kids Foundation Inc Avondale, LA | $11,128,381 | $16,554,167 |
Addy Foundation Dallas, TX | $79,281,983 | $6,993,780 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Stanley E Fulton Family Foundation Dallas, TX | $203,743,171 | -$10,523,305 |
Srb Charitable Corporation Fort Worth, TX | $75,222,672 | $6,910,443 |
Jay Pritzker Foundation Houston, TX | $33,789,125 | $2,840,542 |
Greehey Family Foundation San Antonio, TX | $169,607,829 | $20,192,503 |
Eula Mae And John Baugh Foundation Jersey Village, TX | $172,592,135 | $27,686,076 |