Melbern G And Susanne M Glasscock Foundation
- Assets
- $18.8m
- Revenue
- $3.0m
- Investments
- $14.8m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/1992
- Data as of
- 12/2022
- EIN
- 76-0380195
Organization Overview
Melbern G And Susanne M Glasscock Foundation is located in Houston, TX. The organization was established in 1992. 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. Melbern G And Susanne M Glasscock 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, Melbern G And Susanne M Glasscock Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $1.5m during the year ending 12/2022. While expenses have increased by 12.5% 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 2016, Melbern G And Susanne M Glasscock Foundation has awarded 139 individual grants totaling $6,167,121. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sm Glasscock Pres, Asst Treas | 1 | $0 | |
Mg Glasscock Vp, Treas | 0.75 | $0 | |
Ba Baring Jr Asst Treas | 0.25 | $0 | |
Mm Bass Secretary | 0.25 | $0 | |
Rr Casey III Trustee | 0.25 | $0 | |
S Lindley Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,001,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $766,542 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $207,056 |
| Capital Gain Net Income | $207,056 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,974,598 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,936 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,000 |
| Printing and publications | $0 |
| Other expenses | $503 |
| Total operating and administrative expenses | $8,789 |
| Contributions, gifts, grants paid | $1,500,000 |
| Total expenses and disbursements | $1,508,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,942,093 |
| Net Accounts receivable | $141 |
| 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 | $2,985,861 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $18,755,029 |
| 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, Melbern G And Susanne M Glasscock Foundation has awarded $1,500,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FESTIVAL FOR THE ARTS (AFA) PURPOSE: UNRESTRICTED | $25,000 |
CAMP FOR ALL PURPOSE: UNRESTRICTED | $25,000 |
COMMUNITIES IN SCHOOLS OF HOUSTON INC PURPOSE: GENERAL OPERATIONS | $50,000 |
HOUSTON BOTANIC GARDEN PURPOSE: $200,000 UNRESTRICTED$400,000 GROW HOUSTON'S GARDEN CAPITAL CAMPAIGN$100,000 OPERATING | $700,000 |
HOUSTON MUSEUM OF NATURAL SCIENCE PURPOSE: $25,000 FOR 2022 ANNUAL FUND$75,000 FOR EDUCATION OPERATING | $100,000 |
HOUSTON SYMPHONY SOCIETY PURPOSE: UNRESTRICTED | $25,000 |