Form 990 for tax year 2024
Filed by BIG SPRING AREA COMMUNITY FOUNDATION INC.
Totals
- Total revenue
- $1,411,596
- Total expenses
- $583,229
- Contributions and grants received
- $1,009,350
- Grants paid
- $348,350
- Program service revenue
- $0
- Investment income
- $401,426
- Other revenue
- $820
- Total assets, end of year
- $21,571,654
- Total liabilities, end of year
- $3,193,889
- Net assets or fund balances, end of year
- $18,377,765
- Program services expenses (Part IX)
- $378,590
- Management and general expenses
- $172,657
- Fundraising expenses
- $31,982
- Program service expenses (Part III)
- $378,590
Program services were 64.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$4,300
-
1f · All other contributions, gifts and grants
$1,005,050
-
3 · Investment income
total $327,486 · excluded $327,486
-
7a · Gross sales of assets other than inventory
securities $885,877
-
7b · Less cost or other basis and sales expenses
securities $811,937
-
7c · Gain or loss
securities $73,940
-
7d · Net gain or loss
total $73,940 · excluded $73,940
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $820 · excluded $820
-
11e · Other revenue, total
$820
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $348,350 · program services $348,350
-
5 · Compensation of officers, directors and key employees
total $126,000 · program services $16,878 · management and general $86,061 · fundraising $23,061
-
6 · Compensation of disqualified persons
total $16,081 · program services $2,154 · management and general $10,984 · fundraising $2,943
-
9 · Other employee benefits
total $4,453 · program services $554 · management and general $3,050 · fundraising $849
-
10 · Payroll taxes
total $10,869 · program services $1,456 · management and general $7,424 · fundraising $1,989
-
11c · Fees: accounting
total $34,725 · management and general $34,725
-
11f · Fees: investment management
total $11,288 · management and general $11,288
-
11g · Fees: other
total $1,135 · management and general $1,135
-
12 · Advertising and promotion
total $380 · program services $164 · fundraising $216
-
13 · Office expenses
total $2,614 · program services $564 · management and general $1,645 · fundraising $405
-
14 · Information technology
total $1,428 · program services $213 · management and general $992 · fundraising $223
-
16 · Occupancy
total $5,520 · program services $944 · management and general $3,668 · fundraising $908
-
19 · Conferences, conventions and meetings
total $10,052 · program services $6,032 · management and general $4,020
-
22 · Depreciation, depletion and amortization
total $3,981 · program services $619 · management and general $2,676 · fundraising $686
-
23 · Insurance
total $5,270 · program services $662 · management and general $3,906 · fundraising $702
-
24a · Other expenses: MEMBERSHIP DUES
total $1,071 · management and general $1,071
-
24b · Other expenses: BANK FEES
total $12 · management and general $12
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $978,969 · end of year $1,054,380
-
2 · Savings and temporary cash investments
beginning of year $280,584 · end of year $384,027
-
10a · Land, buildings and equipment: cost or other basis
$153,431
-
10b · Land, buildings and equipment: accumulated depreciation
$9,289
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $144,142
-
11 · Investments: publicly traded securities
beginning of year $17,874,848 · end of year $19,989,105
-
21 · Escrow or custodial account liability
beginning of year $5,825,527 · end of year $3,193,889
-
27 · Net assets without donor restrictions
beginning of year $12,490,099 · end of year $15,993,566
-
28 · Net assets with donor restrictions
beginning of year $818,775 · end of year $2,384,199
Mission and programs · 2024
Mission
RECEIVE GIFTS, BEQUESTS AND DONATIONS TO BE HELD AS ENDOWMENTS THAT WILL PROVIDE CHARITABLE, CULTURAL AND EDUCATIONAL BENEFITS TO THE BIG SPRING AND HOWARD COUNTY AREAS.
-
IN 2024 THE BIG SPRING AREA COMMUNITY FOUNDATION AWARDED OVER $65,000 TO LOCAL NON-PROFITS FROM AGENCY FUNDS. THOSE GRANTS HELP FUND TRAINING FOR YOUTH, RENOVATIONS TO THE LOCAL AMPHITHEATER AND MUSEUM, AND PURCHASED PROGRAM SUPPLIES FOR A RAPE CRISIS CENTER. ADDITIONALLY, THE FOUNDATION CONTRIBUTED $100,000 TOWARD FUNDS NEEDED TO BUILD A YOUTH CENTER THAT WILL SERVE AREA PRE-TEEN AND TEENS AND $25,000 FOR A PRODUCTION OF THE NUTCRACKER BY THE BIG SPRING SYMPHONY. AT LEAST 54 AREA YOUTH ALSO BENEFITTED FROM THE FOUNDATION THROUGH SCHOLARSHIPS TOTALING OVER $150,000.
Expenses $378,590 · Grants $348,350
As filed on the 2024 return.
Listed in Part VII
-
Drew MoutonDREW MOUTON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Tommy ChurchwellTOMMY CHURCHWELL
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Richard SteelRICHARD STEEL
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Jim LittleJIM LITTLE
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Leslie Elrod-HobbsLESLIE ELROD-HOBBS
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Jan ForesythJAN FORESYTH
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Jimmy MillerJIMMY MILLER
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Maureen HaddadMAUREEN HADDAD
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Reina CisnerosREINA CISNEROS
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Diane WoodDIANE WOOD
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Patsy SanchezPATSY SANCHEZ
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
George BancroftGEORGE BANCROFT
EXECUTIVE DIRECTOR
- Total calculated
- $126,000
- From this org
- $126,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
$208,493
TEEN & YOUTH CENTER, GENERAL PURPOSE
-
FUNDING FOR THE NUTCRACKER BALLET, GENERAL PURPOSE
-
HOWARD COUNTY JUNIOR COLLEGE
$25,000
FIRST FLIGHT CONCURRENT SCHOLARSHIP FOR HS SENIORS, SCHOLARSHIPS NONTRADITIONAL STUDENTS
-
RENOVATIONS
-
ST MARY'S EPISCOPAL CHURCH
$22,666
GENERAL PURPOSE
-
$14,400
LIGHTING, PAINT & REPAIRS, EXTRA HELP, NEW MURAL
-
GENERAL PURPOSE
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 20 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533249349300648
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