Texas Tech Foundation Inc
98% goes to programs $0 to raise $100 Strong reserves Growing revenue
Texas Tech Foundation Inc is a 501(c)(3) organization based in Lubbock, Texas, registered in 1950, with $92,698,840 in FY2023 revenue. CharityIndex grades it C+, and it directs about 98% of spending to programs.
Po Box 45025, Lubbock, TX, 79409 EIN 75-6043842 Since 1950
Revenue (FY2023)
$92.7M
▼ 15.8% vs prior year
Education median: $200K
Expenses (FY2023)
$122.8M
Net assets
$933.0M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating98% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Texas Tech Foundation Inc: 98% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
DFinancial health25% of the rating91 mo reserves · -32% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Texas Tech Foundation Inc: 91 mo reserves · -32% margin earns a D on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Texas Tech Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Texas Tech Foundation Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Acceptance, investment, and distribution of gifts for the benefit of the ttu system.
What they do
The organization granted $750,000 to the providence foundation for the expansion of providence hospital's neonatal intensive care unit and to support the providence foundation's mission.
Contact & location
- Address
- Po Box 45025, Lubbock, TX, 79409
- City
- Lubbock
- State
- Texas
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $88.5M (FY2013) to $92.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $5.1MNet assets $933.0M
Operating margin
-32.4%
Spent more than it raised in the latest fiscal year.
Total assets
$938.1M
Total liabilities
$5.1M
Net assets
$933.0M
Salaries & benefits
$0
0% of expenses
Board members
33
33 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $92,698,840▼15.8% | $122,755,625▲26.5% | $932,988,548▲5.3% | $938,095,082▲5.4% | 990 |
| 2022 | $110,148,278▼12.1% | $97,007,634▲0.2% | $885,644,768▲4.8% | $890,446,404▲4.8% | 990 |
| 2021 | $125,336,972▲126% | $96,813,130▼8.8% | $845,364,700▲1.2% | $849,587,948▲1.0% | 990 |
| 2020 | $55,341,496▼31.7% | $106,100,356▲51.1% | $835,633,312▲17.4% | $840,921,024▲17.4% | 990 |
| 2019 | $81,055,486▲4.5% | $70,211,724▲7.9% | $711,937,524▲0.4% | $716,384,087▲0.5% | 990 |
| 2018 | $77,596,427▲6.0% | $65,094,006▲14.6% | $709,148,166▲4.8% | $712,971,429▲4.7% | 990 |
| 2017 | $73,215,529▼36.4% | $56,787,838▼17.8% | $676,758,958▲4.5% | $680,901,283▲5.1% | 990 |
| 2016 | $115,166,933▲2.0% | $69,053,856▲13.1% | $647,533,058▲10.6% | $647,744,824▲10.6% | 990 |
| 2015 | $112,911,559▲171% | $61,080,639▲83.7% | $585,655,950▲8.3% | $585,737,113▲8.3% | 990 |
| 2014 | $41,716,489▼52.9% | $33,246,775▲21.4% | $540,826,258▼2.2% | $540,875,452▼2.3% | 990 |
| 2013 | $88,514,740 | $27,389,405▼28.0% | $553,246,399▲15.5% | $553,800,378▲15.4% | 990 |
| 2012 | — | $38,047,638▼45.8% | $479,016,631▲7.9% | $479,985,130▲7.5% | 990 |
| 2011 | — | $70,171,950▲30.8% | $443,939,687▼4.6% | $446,579,685▼4.5% | 990 |
| 2010 | — | $53,647,971▲0.4% | $465,508,408▲4.5% | $467,512,578▲4.2% | 990 |
| 2009 | — | $53,422,926 | $445,601,682 | $448,650,727 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Barney Adams | Director | 1 | — |
| Barry Street | Director | 1 | — |
| Ben Stribling | Director | 1 | — |
| Ben Strickling | Director | 1 | — |
| Bradley Bouma | Director | 2 | — |
| Cherry Wright | Director | 4 | — |
| Christi Quinn | Director | 1.5 | — |
| David Alderson | Director | 1 | — |
| David Copeland | Director | 1 | — |
| David King | Director | 1 | — |
| Dennis Kruse | Director | 1 | — |
| Gerald G Dixon | Director | 1 | — |
| Gordon Davis | Director | 1 | — |
| Holland O'neal | Director | 0.25 | — |
| Jack Rentz | Director | 1 | — |
| James Mauldin | Treasurer | 1 | — |
| Jim Skinner | Director | 2 | — |
| Joe J Parker Jr | Director | 3 | — |
| J Pat Hickman | Director | 0.25 | — |
| Juan Nevarez | Secretary | 3 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Zuri Group | Consulting & Implementation Services | $1,128,010 |
| Salesforce | Software As A Service | $255,502 |
| Affinquest Technologies LLC | Software As A Service | $210,500 |
| Blackbaud | Software As A Service | $177,900 |
Grants received · $129.2M total
307 grants to Texas Tech Foundation Inc totaling $129.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Red Raiders Facilities Foundation Inc | To give all remaining pledges to the texas tech foundation to use for the benefit of the ttu system. | 2024 | $46,375,082 |
| Communities Foundation of Texas | This grant is designated for general support. | 2024 | $15,949,670 |
| The Dallas Foundation | General support | 2024 | $847,980 |
| American Endowment Foundation | Educational | 2024 | $345,600 |
| Reach Resilience | Program support | 2024 | $280,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $236,800 |
| National Christian Charitable Foundation | Colleges and universities | 2024 | $216,527 |
| American Online Giving Foundation Inc | General support | 2024 | $215,602 |
| Community Foundation of North Texas | For the jim & john white endowment | 2024 | $202,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $200,000 |
| Greater Horizons | Education | 2024 | $170,400 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $98,500 |
| Charities Aid Foundation America | Charitable donation | 2024 | $87,397 |
| Bny Mellon Charitable Gift Fund | To further the organization's exempt purpose | 2024 | $62,000 |
| The Community Foundation For Greater Atlanta Inc | Religion related | 2024 | $60,000 |
Grants made · $120.4M in FY2023
2 grants totaling $120.4M in FY2023. All grants made by Texas Tech Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Texas Tech University System | To promote higher education by providing funds for scholarships and general funds for operation expenses of the texas tech university system. | $120,303,636 |
| Spelman College | Original purpose of grant was to start an endowment in the black cultural center at ttu, however, due to the passing of texas senate bill 17, the funds were requested to be transfered by the original donor to spelman college. | $50,000 |
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Frequently asked questions
- Is Texas Tech Foundation Inc a legitimate nonprofit?
- Yes. Texas Tech Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 75-6043842, based in Lubbock, Texas. Donations are tax-deductible.
- What is Texas Tech Foundation Inc's EIN?
- Texas Tech Foundation Inc's Employer Identification Number (EIN) is 75-6043842.
- How much revenue does Texas Tech Foundation Inc report?
- Texas Tech Foundation Inc reported $92,698,840 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Texas Tech Foundation Inc's spending goes to programs?
- Texas Tech Foundation Inc spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Texas Tech Foundation Inc have?
- CharityIndex grades Texas Tech Foundation Inc C+, based on program efficiency and fundraising cost.
- How much does Texas Tech Foundation Inc's highest-paid employee make?
- The highest reported compensation on Texas Tech Foundation Inc's latest Form 990 is $0, paid to Barney Adams (Director).
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Data for Texas Tech Foundation Inc (EIN 75-6043842) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.