Texas Tech Foundation Inc

Analysis

Texas Tech Foundation Inc is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in June 1950, 76 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Texas Tech Foundation Inc reported income of $110.1m and spending of $97.0m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $77.6m to $110.1m (+42%), an average of +9.2% a year. The sharpest change came in the year to August 2022, when income rose by 126%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Texas Tech Foundation Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TX. Charities of a similar size with the same main cause include Concordia University Irvine ($109.6m), Kansas City University ($110.4m) and College of St Scholastica Inc ($109.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $890.4m against liabilities of $4.8m, net assets of $885.6m.