Foundation for Southeast Texas Inc

Analysis

Foundation for Southeast Texas Inc is a registered charity in United States, based in Beaumont, TX. It received its IRS tax-exemption ruling in August 1997, 29 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, Foundation for Southeast Texas Inc reported income of $7.8m and spending of $3.4m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $7.8m (+350%), an average of +46% a year. The sharpest change came in the year to December 2023, when income rose by 274%. Over the whole period it spent 42% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Foundation for Southeast Texas Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Ascension Wisconsin Foundation Inc ($7.7m), Wabash Valley Community Foundation Inc ($7.8m) and Mammel Family Foundation ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $79k (2.3% of expenses). Other salaries and wages came to $37k. At year end it held assets of $29.5m against liabilities of $2.1m, net assets of $27.4m. It reported 2 employees.