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Brazos Foundation INC FY2022 filing

Tax-deductible

Mineral Wells, TX501(c)(3)Since 1989EIN 75-2251719Revenue $65K in FY2022

On file with the IRSPo Box 901, 76068-0901 · Mineral Wells, TXTax-exempt since Apr 1989Publicly supported charity — 170(b)(1)(A)(vi)

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To financially support charitable organizations in palo pinto county, TX, and surrounding areas through fundraising and incom from investments

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $8K a year · 7% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Plus $796K in investments, Pt X · Ln 11–13
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65K
-73% vs prior year
Spent
$137K
To programs
93%
Net assets
$813K
By yearFY2020–FY2025
Revenue
$65K
FY2022▼ -73%
Tap a bar for its year
Revenue by fiscal year
FY2020$89K
FY2021$240K
FY2022$65K
FY2023$34K
FY2024$144K
FY2025$111K
Expenses
$137K
FY2022▲ +59%
Tap a bar for its year
Expenses by fiscal year
FY2020$95K
FY2021$86K
FY2022$137K
FY2023$99K
FY2024$86K
FY2025$134K
Net assets
$813K
FY2022▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$949K
FY2021$1.0M
FY2022$813K
FY2023$868K
FY2024$946K
FY2025$1.0M

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $128K Management & general 7% · $9K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Cody Cloud
Treasurer
$0Pt VII · Sec A
Gail Cromeens
Vice Preside
$0Pt VII · Sec A
Tracy Kirsch
Secretary
$0Pt VII · Sec A
Kay Tarkenton
President
$0Pt VII · Sec A
See Brazos Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fundraises and invests to financially support charities in Palo Pinto County and surrounding areas.

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Provided by the organization

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1 program · $128K · in their own filed words · FY2022
01

Donations to various charitable organizations supporting citizens of palo pinto county, TX, and surrounding areas

$128Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 26 grants · $333K · 2020–2024
City of StrawnFY2024$17,650
Mineral Wellness Center INCTX · FY2024$10,000
Grace House Ministries INCTX · FY2024$10,000
Charlies Angels Senior CtrTX · FY2024$10,000
Friends of Mw Dog ParkTX · FY2024$9,000
Mineral Wells Rotary ClubTX · FY2023$12,300
Envision Mineral Wells Foundation INCTX · FY2023$10,000
The Max and Billie Clark FoundationTX · FY2023$7,500
Mineral Wells Rotary ClubTX · FY2022$25,000
Gordon Independent School DistrictFY2022$20,000
The Max and Billie Clark FoundationTX · FY2022$20,000
Envision Mineral Wells Foundation INCTX · FY2022$12,500
Mineral Wells Area Chamber of CommerceTX · FY2022$10,800
Meals on Wheels of Palo Pintocounty INCTX · FY2022$10,000
Palo Pinto County Stockshow Heritage AssociationTX · FY2022$7,500
Cross Timbers Senior Citizens Support Task ForceTX · FY2022$6,765
Envision Mineral Wells Foundation INCTX · FY2021$15,000
The Max and Billie Clark FoundationTX · FY2021$15,000
See all 26 grants →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$65K
Ln 12
Gifts and grantsLn 1h$58K
Other incomeLn 4–11$6K
Investment incomeLn 3$1K
Money outPt IX
$137K
Ln 25
Programscol B$128K
Managementcol C$9K
Owns and owesPt X
$813K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$813K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$58K
Fundraising eventsLn 1c$20K
Investment incomeLn 3$1K
Other incomeLn 4–11$6K
Gains on assetsLn 7−$23K
Total revenueLn 12$65K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$15K
Cash and savings togetherLn 1–2$17K
InvestmentsLn 11–13$796K
Total assetsLn 16$813K
LiabilitiesLn 26$0
Net assetsLn 32$813K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$17K$17K
InvestmentsLn 11–13$989K$796K
Total assetsLn 16$1.0M$813K
LiabilitiesLn 26$0$0
Net assetsLn 32$1.0M$813K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$128K$128K
Investment management feesLn 11f$9K$9K
Office expensesLn 13$147$147
Other expenses (24a–d)Ln 24$396$396
Total functional expensesLn 25$137K$128K$9K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $111K$134K−$23K$1.0M 990 PDF
FY2024 $144K$86K$58K$946K 990 PDF
FY2023 $34K$99K−$65K$868K 990 PDF
FY2022 Viewing $65K$137K−$72K$813K 990 PDF
FY2021 $240K$86K$154K$1.0M 990 PDF
FY2020 $89K$95K−$6K$949K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $65,236 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $39,745$57,811
I-9 Program service revenue$0
I-10 Investment incomePrior year $173,532$1,238
I-11 Other revenuePrior year $26,327$6,187
I-12 Total revenuePrior year $239,604$65,236
I-13 Grants and similar amounts paidPrior year $75,500$127,765
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $10,560$9,373
I-18 Total expensesPrior year $86,060$137,138
I-19 Revenue less expensesPrior year $153,544−$71,902
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $65,236 across 7 lines filed
VIII-1c Fundraising events$20,000
VIII-1f All other contributions, gifts and grants$37,811
VIII-1h Total contributions, gifts and grants$57,811
VIII-3 Investment incomeExcluded from tax $24,397$24,397
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$23,159−$23,159
VIII-8 Net income from fundraising eventsExcluded from tax $6,187$6,187
VIII-12 Total revenueExcluded from tax $7,425$65,236
Part IX · Statement of functional expenses $137,138 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $127,765$127,765
IX-11f Investment management feesManagement $8,830$8,830
IX-13 Office expensesManagement $147$147
IX-24 Other expenses (24a–d)Management $396$396
IX-25 Total functional expensesPrograms $127,765 · Management $9,373 · Fundraising $0$137,138
Part X · Balance sheet $813,063 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $1,040$2,040
X-2 Savings and temporary cash investmentsStart of year $16,184$15,367
X-11 Publicly traded securitiesStart of year $989,337$795,656
X-16 Total assetsStart of year $1,006,561$813,063
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,006,561$813,063
X-33 Total liabilities and net assetsStart of year $1,006,561$813,063
Part XI · Reconciliation of net assets $813,063 net assets at year end
XI-1 Total revenue$65,236
XI-2 Total expenses$137,138
XI-3 Revenue less expenses−$71,902
XI-4 Net assets at start of year$1,006,561
XI-5 Net unrealized gains (losses) on investments−$121,596
XI-10 Net assets at end of year$813,063

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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