Overview
What is Texas Tech Foundation Inc?
Texas Tech Foundation Inc is a nonprofit organization dedicated to advocating for the success of Texas Tech University System. By positioning the institution as a distinguished entity, they raise funds for the universities and health sciences centers within the system. The Foundation is responsible for the acceptance, investment, and distribution of these gifts to benefit the TTU System. Through their stewardship of funds and dedication to donor care, they contribute significantly to the growth and development of Texas Tech University System.
Official website here: www.give2tech.com/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
Texas Tech Foundation Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial management. The organization scored an overall 95% in its Accountability & Finance metrics, which indicates that it effectively manages its resources and complies with best practices in nonprofit governance.
One notable strength of the Texas Tech Foundation is its independent board, consisting entirely of 35 independent members, ensuring unbiased oversight. The foundation demonstrates transparency with its fiscal matters, as evidenced by its perfect scores in several key areas, including the material diversion of assets and the presence of a conflict of interest policy. Additionally, it maintains a high program expense ratio of 98.14%, signifying that the majority of its funds are directed toward its programs rather than administrative costs.
However, it's important to note that the organization received a low score in fundraising efficiency, which could indicate that its fundraising strategies may require improvement. Despite this limitation, the foundation's overall financial health is strong, with a low liabilities to assets ratio and a remarkable working capital ratio of 8.86 years, suggesting stability and sustainability in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Texas Tech Foundation Inc legitimate?
Texas Tech Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Texas Tech Foundation 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
For more financial information, click here
Official website here: www.give2tech.com/foundation
What is the mission statement of Texas Tech Foundation Inc?
The Texas Tech Foundation Inc serves as an advocate for the success of Texas Tech University System. It strives to elevate the institution's reputation and status. A key aspect of its mission is to secure funds on behalf of the universities and health sciences centers within the system. The Foundation takes care of the donations it receives, acting as a steward to ensure their proper use and care for the donors.
Official website here: www.give2tech.com/foundation
Who is the CEO of Texas Tech Foundation Inc?
Patrick Kramer is the Chairman of Texas Tech Foundation Inc. The CEO's salary of Texas Tech Foundation Inc is $0 and their total compensation is $375,694.
Official website here: www.give2tech.com/foundation
What is the revenue of Texas Tech Foundation Inc?
Texas Tech Foundation Inc's revenue in 2022 was $125,336,972.
Official website here: www.give2tech.com/foundation
Who are the executives of Texas Tech Foundation Inc and what are their salaries?
There 45 volunteers at Texas Tech Foundation Inc.
Here are 37 key members and their salaries (Texas Tech Foundation Inc's CEO's salary is $0 and their total compensation is $375,694):
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- Related: $375,508
- Other: $39,376
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- Related: $341,313
- Other: $34,381
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Official website here: www.give2tech.com/foundation
Where can I find the form 990 for Texas Tech Foundation Inc?
Texas Tech Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.give2tech.com/foundation
Learn more at the official website: www.give2tech.com/foundation
Mission Statement of Texas Tech Foundation Inc
Texas Tech Foundation Inc serves as a dedicated advocate for the success of Texas Tech University System. This foundation plays a pivotal role in enhancing the institution's reputation as a distinguished entity. By positioning Texas Tech University System in a favorable light, the foundation attracts valuable support and resources that benefit the universities and health sciences centers.
In addition to advocacy, the Texas Tech Foundation Inc is also entrusted with the crucial task of fundraising. It actively seeks and secures investments on behalf of the universities and health sciences centers under the Texas Tech University System. The foundation's commitment extends beyond just raising funds; it also ensures the careful stewardship of these resources. This involves providing effective care for donors, demonstrating gratitude, and maintaining transparency. As a result, donors feel confident that their contributions are making a significant impact.
By combining advocacy and fundraising efforts, Texas Tech Foundation Inc paves the way for the Texas Tech University System to thrive. It is an essential partner, facilitating the growth and success of the universities and health sciences centers through its fundraising initiatives and unwavering support.
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Impact
October, 2024
Texas Tech Foundation Inc significantly enhances the Texas Tech University System by facilitating the acceptance, investment, and distribution of gifts. Its efforts position the universities and health sciences centers as institutions of distinction, directly impacting the educational landscape and fostering an environment for growth and innovation. Through effective fundraising, the Foundation ensures that resources are available for scholarships, research initiatives, and advancements in healthcare education.
Moreover, the Foundation plays a vital role in the stewardship of funds, maintaining strong relationships with donors and ensuring that their contributions are utilized effectively for the betterment of the TTU System. This focus on care for donors not only fosters trust but also encourages continued investment in the university's mission. Ultimately, the Texas Tech Foundation's impact is profound, as it strengthens the capacity of the Texas Tech University System to serve students, faculty, and the broader community, driving forward an agenda of excellence in education and healthcare.
This information is meant to be a general summary of Texas Tech Foundation 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: $8,914,426
- Gross Receipts: $152,039,330
Assets and Liabilities:
- Total Assets: $849,587,948
- Total Liabilities: $4,223,248
- Net Assets: $845,364,700
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Organization Details
Founding Year
1939
Phone
(806) 742-9000Principal Officer
Patrick Kramer
Main Address
PO BOX 45025, LUBBOCK, TX, 79409
Website
www.give2tech.com/foundationNTEE Category
Code: B110 - Education
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