Overview
What is Community Foundation Of West Texas?
The Community Foundation of West Texas is a nonprofit organization based in Lubbock, Texas. With a team of seven dedicated individuals, their primary focus is on grantmaking. Approximately 22% of their grants are directed by the board through various funds, addressing vital community needs in the South Plains region and responding to emerging opportunities. Their focus areas encompass basic needs and self-sufficiency, education and youth, civic, social and economic development, and arts and culture. Additionally, 9% of their funds distributed in 2022 were from scholarship funds. The remaining grants, accounting for 69% of their authorizations, stem from endowed and limited-term designated and donor-advised funds. The Community Foundation of West Texas aims to improve the lives of residents in the Texas South Plains region for generations to come by working in collaboration with donors to build community endowment, address needs through grantmaking, and provide leadership on key community issues.
Official website here: www.cfwtx.org
What are the reviews and ratings of this charity?
Community Foundation Of West Texas has earned an impressive Four-Star out of Four Star rating from Charity Navigator, with a perfect score of 100% in Accountability & Finance. This rating indicates that the organization is well-managed and transparent, assuring donors that their contributions are utilized effectively. The high score reflects strong governance practices, including an independent board composed entirely of 25 members and robust financial oversight.
The foundation demonstrates exceptional financial health, with a program expense ratio of over 90%, ensuring that the majority of funds raised directly support its programs. The organization also has very low liabilities, showcasing a solid financial foundation with a working capital ratio of 11.16 years. These metrics indicate that the foundation is committed to accountability and efficiency, making it a trustworthy choice for potential donors and supporters.
However, user reviews from GreatNonprofits could not be fetched, which leaves a gap in potential public sentiment regarding the organization. Overall, based on its Charity Navigator rating, Community Foundation Of West Texas exemplifies strong financial management and operational transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Community Foundation Of West Texas legitimate?
Community Foundation Of West Texas is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Foundation Of West Texas 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: $142,104
Professional Fundraising Fees: $0
Other Salaries and Wages: $461,754
For more financial information, click here
Official website here: www.cfwtx.org
What is the mission statement of Community Foundation Of West Texas?
The Community Foundation of West Texas enhances the lives of residents in the Texas South Plains region, both now and for future generations. They achieve this by collaborating with donors to build community endowment, address pressing needs through grantmaking, and provide leadership on key community issues. The organization's primary program is grantmaking, with around 22% of grants in 2022 directed by the board of directors towards vital community needs and emerging opportunities. Their focus areas include basic needs and self-sufficiency, education and youth, civic, social and economic development, and arts and culture. Additionally, 9% of funds distributed in 2022 were from scholarship funds, with the remaining grants coming from endowed and designated funds.
Official website here: www.cfwtx.org
What is the revenue of Community Foundation Of West Texas?
Community Foundation Of West Texas's revenue in 2023 was $6,880,528.
Official website here: www.cfwtx.org
Who are the executives of Community Foundation Of West Texas and what are their salaries?
The average compensation at Community Foundation Of West Texas during 2023 was $75,482. There are 8 employees and 100 volunteers at Community Foundation Of West Texas.
Here are 26 key members and their salaries:
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Official website here: www.cfwtx.org
Where can I find the form 990 for Community Foundation Of West Texas?
Community Foundation Of West Texas's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cfwtx.org
Learn more at the official website: www.cfwtx.org
Mission Statement of Community Foundation Of West Texas
The Community Foundation of West Texas strives to improve the lives of all residents in the Texas South Plains region, both presently and for future generations. They achieve this by working collaboratively with donors to build community endowment, address pressing needs through grantmaking, and provide leadership on critical community issues. By doing so, the Community Foundation of West Texas aims to create a lasting impact on the region, ensuring a better future for its residents.
In pursuit of its mission, the Community Foundation of West Texas focuses on several key areas. One of their primary initiatives is grantmaking, which accounts for a significant portion of their activities. Through their grantmaking programs, the foundation supports a wide range of charitable organizations, directing around 22% of their grants towards addressing vital community needs and responding to emerging opportunities. Their grantmaking efforts cover various focus areas, including basic needs and self-sufficiency, education and youth, civic, social, and economic development, and arts and culture.
Furthermore, the Community Foundation of West Texas is dedicated to providing leadership on key community issues. They do this by engaging with local communities and working together with donors to identify and address pressing needs. This proactive approach allows the foundation to make a meaningful impact on the region, ensuring that resources are allocated effectively and efficiently to address the most pressing challenges. By combining grantmaking with leadership on critical community issues, the Community Foundation of West Texas is able to make a lasting and positive impact on the lives of residents in the Texas South Plains region.
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Impact
July, 2024
The Community Foundation of West Texas enhances the lives of all residents of the Texas South Plains region, both now and for generations to come. By working collaboratively with donors, the Foundation builds community endowment, addresses critical needs through grantmaking, and takes a leadership role on key community issues. Approximately 22% of grants in 2022 were directed by the Board of Directors through field of interest and discretionary funds, focusing on vital community needs and emerging opportunities in various charitable organizations. The Foundation's grantmaking areas include basic needs and self-sufficiency, education and youth, civic, social, and economic development, as well as arts and culture. Moreover, the Foundation also provided support through scholarship funds in 2022, contributing to the development of individuals in the region.
This information is meant to be a general summary of Community Foundation Of West Texas. 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 2023.
- Investment Income: $1,550,973
- Program Service Revenue: $16,112
- Gross Receipts: $20,137,303
Assets and Liabilities:
- Total Assets: $61,358,908
- Total Liabilities: $2,931,033
- Net Assets: $58,427,875
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$16,112
Organization Details
Founding Year
1981
Principal Officer
Stephen Warren
Website
www.cfwtx.orgNTEE Category
Code: T310 - Philanthropy
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