Overview
What is West Texas Heritage Holdings Inc?
West Texas Heritage Holdings Inc, situated in Midland, Texas, is a nonprofit organization that plays a crucial role in supporting the activities of the Permian Basin Area Foundation. The organization primarily functions by accepting donations of non-cash assets, such as real estate, tangible personal property, and interests in oil, gas, and other minerals. These contributions are then managed or sold to generate funds, which are utilized to aid the ongoing programs of the Permian Basin Area Foundation. The specific programs or initiatives supported by West Texas Heritage Holdings are not specified in the provided information, but it's evident that they contribute to the overall mission of the Permian Basin Area Foundation.
Is West Texas Heritage Holdings Inc legitimate?
West Texas Heritage Holdings Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Texas Heritage Holdings Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of West Texas Heritage Holdings Inc?
West Texas Heritage Holdings Inc. serves a unique role in supporting the continuous initiatives of Permian Basin Area Foundation. The company receives non-cash, illiquid assets such as intangible or tangible properties, real estate, and interests in oil, gas, and minerals. These assets are either managed or liquidated through sales, with the proceeds benefiting the Permian Basin Area Foundation and its ongoing programs. By doing so, West Texas Heritage Holdings Inc. contributes to the foundation's mission of advancing various social, educational, and community development initiatives in the region.
Who is the CEO of West Texas Heritage Holdings Inc?
Guy Mccrary is the Executive Vice President of West Texas Heritage Holdings Inc.
What is the revenue of West Texas Heritage Holdings Inc?
West Texas Heritage Holdings Inc's revenue in 2022 was $556,233.
Who are the executives of West Texas Heritage Holdings Inc and what are their salaries?
There 4 volunteers at West Texas Heritage Holdings Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $278,433
- Other: $28,760
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for West Texas Heritage Holdings Inc?
West Texas Heritage Holdings Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of West Texas Heritage Holdings Inc
West Texas Heritage Holdings, Inc., is an organization with a unique mission. Its primary role is to aid the Permian Basin Area Foundation in its ongoing programs. West Texas Heritage Holdings specializes in receiving non-cash, illiquid assets as gifts. These assets can range from intangible or tangible personal property, real estate, to interests in oil, gas, and other mineral properties. The organization's responsibility is to manage or liquidate these assets through sale, with the proceeds benefiting the Permian Basin Area Foundation. In essence, West Texas Heritage Holdings, Inc. serves as a bridge, facilitating the acceptance and utilization of non-traditional donations to support the Foundation's initiatives.
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Impact
October, 2024
West Texas Heritage Holdings Inc plays a crucial role in the Permian Basin's philanthropic landscape by acting as a financial conduit for supporting various community programs. By receiving and managing non-cash intangible and tangible assets, including real estate and interests in oil, gas, and mineral properties, the organization creates a sustainable model for funding initiatives in the region. This approach not only aids in the liquidation of these assets for monetary gain but also ensures that the proceeds are directed towards enhancing the ongoing programs of the Permian Basin Area Foundation.
The impact of West Texas Heritage Holdings is multifaceted: it provides critical financial support to community-focused programs, promotes the effective use of local resources, and encourages philanthropic giving by facilitating asset donations. By generating funds through the sale and management of illiquid assets, the organization enables meaningful investments back into the community, thus bolstering economic and social development in Midland and the surrounding areas. The strategic focus on utilizing both tangible and intangible contributions highlights its commitment to fostering a vibrant and supportive philanthropic environment within West Texas.
This information is meant to be a general summary of West Texas Heritage Holdings Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $15,957
- Gross Receipts: $1,006,233
Assets and Liabilities:
- Total Assets: $484,434
- Total Liabilities: $465,909
- Net Assets: $18,525
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Organization Details
Founding Year
2010
Phone
(432) 617-3213Principal Officer
Guy Mccrary
Main Address
3312 Andrews Highway, Midland, TX, 79703
NTEE Category
Code: T113 - Philanthropy
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