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Argent Foundation INC FY2023 filing

Tax-deductible

Ruston, LA501(c)(3)Since 2021Foundations & GrantmakersEIN 86-1771653Revenue $3.9M in FY2023

On file with the IRS500 E Reynolds Dr, 71270-2821 · Ruston, LATax-exempt since Oct 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Argent Foundation (the "Foundation") is a texas nonprofit corporation focused on aiding charitable organizations to raise the funds necessary to conduct and scale work that is crucial in addressing social and environmental challenges and promoting the welfare of society. The Foundation supports effective philanthropy and grantmaking by empowering donors to pursue philanthropic goals and empowering charities to strengthen their financial resilience by providing grants and education programming to charities and potential donors regarding fundraising, effective grant- making and philanthropic investments.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $2.5M a year · 75% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Fine: -9.1 months of spending in cash, plus $4.2M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
−$85K
-3% of total assets
Looks good: liabilities are -3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
+528% vs prior year
Spent
$1.4M
To programs
99%
Net assets
$3.4M
By yearFY2021–FY2024
Revenue
$3.9M
FY2023▲ +528%
Tap a bar for its year
Revenue by fiscal year
FY2021$586K
FY2022$618K
FY2023$3.9M
FY2024$8.2M
Expenses
$1.4M
FY2023▲ +709%
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022$179K
FY2023$1.4M
FY2024$1.8M
Net assets
$3.4M
FY2023▲ +266%
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2022$916K
FY2023$3.4M
FY2024$9.8M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2021.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $1.4M Management & general 1% · $8K

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
Kelly Hogan
Board Member
$0Pt VII · Sec A
Blair Hull
President
$0Pt VII · Sec A
Lucius McGehee
Board Member
$0Pt VII · Sec A
Cynthia Woodard
Board Member
$0Pt VII · Sec A
See Argent 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

Helps charities raise funds and donors give effectively to address social and environmental issues.

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Community Foundation of North LouisianaFY2023$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 64 grants · $2.7M · 2022–2024
County Line Baptist ChurchFY2024$300,000
The Bridge Community ChurchLA · FY2024$271,900
Louisiana Tech University Foundation INCLA · FY2024$160,750
Individual RecipientFY2024$54,000
National Innstitute for DeterrenceFY2024$50,000
Individual RecipientFY2024$50,000
Sikeston Christian SchoolMO · FY2024$50,000
Word of Life Assembly of GodVA · FY2024$44,750
St Jude Children's Research Hospital INCTN · FY2024$41,000
Shriners Hospitals for ChildrenFL · FY2024$40,000
Community Foundation of North LaFY2024$34,047
Oklahoma Council of Public Affairs INCOK · FY2024$31,000
First Baptist Church RustonFY2024$30,100
IfegesFY2024$27,000
Boys & Girls Club of North LouisianaLA · FY2024$25,000
Habitat for Humanity OuachitaFY2024$20,000
Sky High for Kids INCTX · FY2024$17,500
The Sero Group INCTN · FY2024$15,000
See all 64 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Gifts and grantsLn 1h$3.9M
Fees for servicesLn 2g$14K
Investment incomeLn 3$8K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.4M
Managementcol C$8K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2−$1.1M
Total assetsLn 16$3.3M
LiabilitiesLn 26−$85K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.9M
Fees for servicesLn 2g$14K
Investment incomeLn 3$8K
Gains on assetsLn 7−$54K
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1−$1.1M
Cash and savings togetherLn 1–2−$1.1M
InvestmentsLn 11–13$4.2M
Total assetsLn 16$3.3M
LiabilitiesLn 26−$85K
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 50
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 FY23End FY23
Cash and savingsLn 1–2$4K−$1.1M
InvestmentsLn 11–13$913K$4.2M
Total assetsLn 16$916K$3.3M
LiabilitiesLn 26$754−$85K
Net assetsLn 32$916K$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.4M$1.4M
Management feesLn 11a$18K$14K$4K
Accounting feesLn 11c$4K$4K
Office expensesLn 13$7$7
Total functional expensesLn 25$1.4M$1.4M$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.2M$1.8M$6.5M$9.8M 990 PDF
FY2023 Viewing $3.9M$1.4M$2.4M$3.4M 990 PDF
FY2022 $618K$179K$440K$916K 990 PDF
FY2021 $586K$0$586K$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,880,813 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $630,307$3,913,315
I-9 Program service revenuePrior year $5,150$14,234
I-10 Investment incomePrior year −$17,001−$46,736
I-11 Other revenue$0
I-12 Total revenuePrior year $618,456$3,880,813
I-13 Grants and similar amounts paidPrior year $166,487$1,422,865
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $12,077$22,092
I-18 Total expensesPrior year $178,564$1,444,957
I-19 Revenue less expensesPrior year $439,892$2,435,856
Part VI · Governance 2 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
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 $3,880,813 across 6 lines filed
VIII-1f All other contributions, gifts and grants$3,913,315
VIII-1h Total contributions, gifts and grants$3,913,315
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,234$14,234
VIII-3 Investment incomeRelated to mission $7,678$7,678
VIII-7 Net gain or loss on sales of assetsRelated to mission −$54,414−$54,414
VIII-12 Total revenueRelated to mission −$32,502$3,880,813
Part IX · Statement of functional expenses $1,444,957 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $1,422,865$1,422,865
IX-11a Management feesPrograms $14,296 · Management $4,189$18,485
IX-11c Accounting feesManagement $3,600$3,600
IX-13 Office expensesManagement $7$7
IX-25 Total functional expensesPrograms $1,437,161 · Management $7,796 · Fundraising $0$1,444,957
Part X · Balance sheet $3,266,222 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $3,682−$1,090,386
X-4 Accounts receivable$138,904
X-11 Publicly traded securitiesStart of year $912,737$4,217,704
X-16 Total assetsStart of year $916,419$3,266,222
X-17 Accounts payable and accrued expensesStart of year $754$301
X-18 Grants payable−$85,600
X-26 Total liabilitiesStart of year $754−$85,299
X-27 Net assets without donor restrictionsStart of year $915,665$3,351,521
X-32 Total net assets or fund balancesStart of year $915,665$3,351,521
X-33 Total liabilities and net assetsStart of year $916,419$3,266,222
Part XI · Reconciliation of net assets $3,351,521 net assets at year end
XI-1 Total revenue$3,880,813
XI-2 Total expenses$1,444,957
XI-3 Revenue less expenses$2,435,856
XI-4 Net assets at start of year$915,665
XI-10 Net assets at end of year$3,351,521

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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