Overview
What is Lufkin Industries Foundation?
The Lufkin Industries Foundation is a charitable organization, with its headquarters located in Lufkin, Texas. Its primary mission is to extend financial aid in the form of scholarships to the offspring of Lufkin Industries, Inc.'s employees and retirees. These individuals must meet the criteria for enrollment in colleges, junior colleges, or universities. In the year 2022, out of all the applicants, 10 were successful in securing these scholarships, and they collectively received a sum of $66,000 from the foundation. The foundation's activities are focused solely on fulfilling this scholarship granting mission.
Is Lufkin Industries Foundation legitimate?
Lufkin Industries Foundation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Lufkin Industries Foundation 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.
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What is the mission statement of Lufkin Industries Foundation?
The Lufkin Industries Foundation's primary mission is to extend financial aid in the form of scholarships to the children of employees or retired workers who maintain a satisfactory standing within Lufkin Industries, Inc. These eligible dependents must meet the criteria for enrollment in colleges, junior colleges, or universities. In 2022, the foundation awarded scholarships to all ten applicants, with a total disbursement of $66,000.
Who is the CEO of Lufkin Industries Foundation?
Stephen Conway is the President of Lufkin Industries Foundation.
What is the revenue of Lufkin Industries Foundation?
Lufkin Industries Foundation's revenue in 2022 was $81,422.
Who are the executives of Lufkin Industries Foundation and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Lufkin Industries Foundation?
Lufkin Industries Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lufkin Industries Foundation
The Lufkin Industries Foundation, as its mission statement suggests, is an organization dedicated to granting scholarships. Specifically, it focuses on supporting the academic pursuits of dependent children of employees and retirees who are in good standing with Lufkin Industries, Inc. The foundation sets its qualifications for these scholarships at admission levels to Colleges, Junior Colleges, or Universities. In 2022, this charitable organization demonstrated its commitment by awarding scholarships to all 10 eligible applicants, resulting in a total disbursement of $66,000.
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Impact
October, 2024
Lufkin Industries Foundation significantly enhances educational opportunities for the dependent children of employees and retirees of Lufkin Industries, Inc. By providing scholarships, the foundation empowers these children to pursue higher education at colleges, junior colleges, and universities. In 2022, every applicant received financial support, totaling $66,000, which underscores the foundation's commitment to fostering the academic ambitions of families connected to the company. This initiative not only alleviates the financial burden of higher education but also strengthens community ties by encouraging educational advancement among the next generation.
This information is meant to be a general summary of Lufkin Industries Foundation. 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: $81,276
- Gross Receipts: $376,255
Assets and Liabilities:
- Total Assets: $2,120,605
- Total Liabilities: $82,200
- Net Assets: $2,038,405
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Organization Details
Founding Year
1964
Phone
(936) 637-5237Principal Officer
Stephen Conway
Main Address
PO Box 152553, Lufkin, TX, 75915
NTEE Category
Code: B84 - Education
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