Crain Foundation
- Assets
- $32.5m
- Revenue
- $2.8m
- Investments
- $32.1m
- Employees
- 0
- Location
- Longview, TX
- Founding
- 05/1997
- Data as of
- 12/2021
- EIN
- 75-2698267
Organization Overview
Crain Foundation is located in Longview, TX. The organization was established in 1997. 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. Crain 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 12/2021, Crain Foundation generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Crain Foundation has awarded 1,006 individual grants totaling $14,401,705. 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 |
|---|---|---|---|
B Walter Crain III Vp/director | 1 | $0 | |
Ann Lacy Crain II Vp/director | 1 | $0 | |
Darren Groce VP | 1 | $0 | |
Jim Deborah CFO | 1 | $0 | |
Rogers L Crain Pres/sec/dir | 1 | $0 | |
Kevin Gardner Controller | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $111,169 |
| Interest on Savings | $106 |
| Dividends & Interest | $670,858 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,527,616 |
| Capital Gain Net Income | $1,526,764 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $441,429 |
| Total Revenue | $2,751,178 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $3,660 |
| Taxes | $62,168 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $227,623 |
| Total operating and administrative expenses | $347,654 |
| Contributions, gifts, grants paid | $2,426,348 |
| Total expenses and disbursements | $2,774,002 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $396,813 |
| Net Accounts receivable | $18,403 |
| 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 | $6,513,447 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,471,147 |
| 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 | $105,000 |
| Total liabilities | $105,000 |
Grants Awarded
Over the last fiscal year, Crain Foundation has awarded $2,426,348 in support to 150 organizations.
| Grant Recipient | Amount |
|---|---|
EPISCOPAL HIGH SCHOOL PURPOSE: PRIVATE RELIGIOUS HIGH SCHOOL | $381,000 |
LONGVIEW MUSEUM OF FINE ARTS PURPOSE: PROMOTION OF VISUAL ARTS | $320,000 |
Lawrenceville, NJ PURPOSE: GENERAL SUPPORT | $121,000 |
ST LUKES UNITED METHODIST CHURCH PURPOSE: GENERAL SUPPORT | $100,000 |
Memphis, TN PURPOSE: FOR THE CRAIN FAMILY COUNSELING SUPPORT FUND | $100,000 |
Lexington, VA PURPOSE: FOR HARLAN BECKLEY SCHOLARSHIP | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
Scharbauer Foundation Inc Midland, TX | $271,051,602 | $69,061,413 |
Wildcat Foundation Fort Worth, TX | $836,895 | $18,132,970 |
A Earl & Frances E Ziegler Foundation Norman, OK | $1,886,858 | $25,634,422 |
Eugene Mcdermott Foundation Dallas, TX | $220,528,387 | $97,884,779 |
Henderson-Wessendorff Foundation Richmond, TX | $228,160,288 | $17,605,762 |
Walter E Heller Foundation Dallas, TX | $0 | $637,126 |
Carl & Marilynn Thoma Foundation Dallas, TX | $0 | $929,287 |
Beloved In Christ Foundation Austin, TX | $172,986,617 | $3,113,726 |
The Kathryn H Craig Stephen Dudley Heard And Lillie D Heard Memorial Dallas, TX | $1,384 | -$449,918 |
Carroll Petrie Foundation Santa Fe, NM | $306,631,944 | $55,176,464 |
Hamill Foundation Houston, TX | $203,029,849 | $39,782,936 |