Vest Family Foundation
- Assets
- $7.1m
- Revenue
- $2.4m
- Investments
- $6.5m
- Employees
- 0
- Location
- Kermit, TX
- Founding
- Data as of
- 12/2022
- EIN
- 84-3537116
Organization Overview
Vest Family Foundation is located in Kermit, TX. 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. Vest Family 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, Vest Family Foundation generated $2.4m in total revenue.
Since 2021, Vest Family Foundation has awarded 27 individual grants totaling $386,000. 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
TO MAKE GRANTS TO ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samann Vest Watkins Pres/treas | 0 | $0 | |
Ty Watkins Vp/sec | 0 | $0 | |
Ryan Moss Director | 0 | $0 | |
Sandy Greene Asst. Sec. | 0 | $0 | |
Janette Jennings Asst. Treas. | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,966,973 |
| Interest on Savings | $24,036 |
| Dividends & Interest | $451,373 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,442,382 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,813 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,052 |
| Total operating and administrative expenses | $12,889 |
| Contributions, gifts, grants paid | $256,000 |
| Total expenses and disbursements | $268,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,861 |
| Savings and temporary cash investments | $0 |
| 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 | $2,212,491 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,102,352 |
| 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, Vest Family Foundation has awarded $256,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
FORGET ME NOT FRANCES PURPOSE: SUPPORT FOR GRIEVING MOTHERS | $20,000 |
SOUTHWESTERN DIABETIC FOUNDATION IN PURPOSE: EDUCATE CHILDREN WITH DIABETES | $15,000 |
PAWS WORTH FIGHTING FOR PURPOSE: ANIMAL SHELTER AND ADOPTION SUPPORT | $25,000 |
THE ODESSA COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $25,000 |
SHERWOOD MYRTIE FOSTER HOME FOR CHI PURPOSE: FOSTER CARE ASSISTANCE | $16,000 |
238 JUNIOR LIVESTOCK ASSOCIATION PURPOSE: SUPPORT ONGOING OPERATIONS | $10,000 |