Permian Basin Area Foundation

Analysis

Permian Basin Area Foundation is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in September 1994, 32 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Permian Basin Area Foundation reported income of $37.3m and spending of $19.9m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $30.8m to $37.3m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 51% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Permian Basin Area Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include United Way of Southwest New Mexico ($36.9m), Greater Manhattan Community Foundation ($37.4m) and Sioux Falls Area Community Foundation Inc ($36.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. Compensation of current officers, directors and key employees was $557k (2.8% of expenses). Other salaries and wages came to $682k. At year end it held assets of $294.7m against liabilities of $9.6m, net assets of $285.1m. It reported 11 employees.