2024 Annual Report : simplebooklet.com

TABLE OF CONTENTS4LEADERSHIP62024 YEAR IN REVIEWBoard of DirectorsFoundation TeamOrganizational StatementsGrant Billingsley retires; Mary Ann Beninati takes over as CEOInvestors partner with Omni for Luxury Downtown HotelFoundation partners with other funders to launch Leadership Engage 2024 Ground Breakings, Ribbon Cuttings, and Impacts10GRANTMAKINGGrantmaking by Foundation Focus Area 2024Grantmaking by Foundation Focus Area since InceptionFoundation Strategy: Geographic Scope and Grant Types12EDUCATIONHarmony Public Schools opens Midland campus2024 Education Grants Awarded14HEALTHCAREFoundation backs programs to ensure success of PBBHC2024 Healthcare Grants Awarded15PUBLIC/CIVIC BENEFIT2024 Public/Civic Benefit Grants Awarded16HUMAN SERVICESFoundation helps three nonprofits complete major building projects2024 Human Services Grants Awarded2024 Other Grants Awarded18FINANCIALSPreliminary Statement of Financial PositionPreliminary Total FMV Asset MixPreliminary Statement of Financial ActivitiesPreliminary Total Disbursements

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CEO & PRESIDENTa note from the2024 was a year of transition for theScharbauer Foundation. While we welcomedtwo new board members, we also gratefullyand fondly said farewell to our longtime leader.In March 2024, Scott Kidwell and JohnScharbauer joined the Board as provisionaldirectors. Mr. Kidwell, a native Midlander, bringsdecades of professional and personalunderstanding about the business and civicdynamics of our town. Mr. Scharbauer, adedicated entrepreneur and philanthropist,carries a deep family connection andadmiration with his board service. Finally, GrantBillingsley, our leader for 11 years, retired inDecember. His character and relationship-building skills have been unparalleled and atthe core of the Foundation’s success.We also experienced a shift in how we thinkabout delivering our impact. Expanding ourscope beyond grant cycles and projects, muchof 2024 was spent discussing missionalinvestments and public-private partnershipsaimed at improving Midland. In the next fewpages, you will read about the Permian BasinBehavioral Health Center, where we areengaging in a wider land acquisitionsurrounding the Center for expansion of a first-class regional medical center, and thetransformative downtown Omni Midland hotelproject. These mission-related investmentsallow us to ensure that projects with amultigenerational impact on Midland can besecured and brought to fruition.Our focus on partnerships in Educationcontinued to grow. With two separate grantsto the Holdsworth Center, we are hopeful thatMidland ISD will be able to create a pipeline of aspiring principals and campus leaders to lead the next generation of classrooms. We also partnered with Baylor College of Medicine tobring a STEM+M program to Midland,promoting medical education and careerpathways in our public school system.Our commitment to Healthcare remainedstrong. In addition to the Permian BasinBehavioral Health Center, we supported severalsmall and specialty community outreachfacilities, as well as the modernization of the ICUat Medical Center Hospital, which will impactour entire region.Strengthening our internal team andfinancial health was a priority. Wetransitioned to new leadership and expandedour employee base by hiring two newemployees this year: David Guerrero, our staffaccountant with a much-utilized background ininformation technology, and me. We alsoenjoyed much success in the markets in 2024,and our balance sheet is strong. We continue todiscuss projects and investments that furthersecure the financial future of the Foundation.I am deeply grateful for the warm welcome Ireceived from the Board of Directors at theirannual retreat in Colorado Springs, Colorado, inAugust, and for the five months I spent besideGrant Billingsley. My hope is to work with thesame mindfulness and collaborative spirit thathe did. I look forward to promoting the furthergrowth of the Foundation and its continuedimpact on our Midland community.Expanding our scope beyond grant cycles and projects, much of 2024was spent discussing missional investments and public-privatepartnerships aimed at improving Midland.3

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LEADERSHIPBoard of DirectorsDan HordChairScott KidwellProvisional Jim NelsonVice ChairTim LeachJames M. AlsupAssistantSecretaryKaty MorrowGary DouglasAssistantTreasurerScott RyburnCindy BlackJohn ScharbauerProvisionalORGANIZATIONAL STATEMENTSVISIONTo make Midland a better place in which to live and operate abusiness.What we want to achieveGUIDINGPRINCIPLESSeek solutions to community challengesEncourage collaborationFavor grants that help those less able to help themselvesMaximize grantee benefit and community impactExplore new opportunities and innovative solutionsLimit annual or regular grants to individual organizations to reducegrantee dependenceBoard guidance onconsidering andmaking decisions4

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LEGACY OF LEADERSHIPMidland County Courthouse site to the new Centennial Park, creating a modern downtown anchor that keeps the area active after hours and on weekends. Adding to the park’s value is one of the Foundation’s most recent and unique projects. The Omni Hotel allowsthe Foundation to build on the history of theScharbauer family’s namesake downtown hotel.Since inception, the Foundation has invested morethan $28 million into Midland ISD schools, teachers,and programs, and awarded more than $14 million tobring in charter school operators to give local familiesmore choices for their children’s education.Scharbauer Foundation has been integral in bringingIDEA Public Schools to the Permian Basin, and As Scharbauer Foundation’s first CEO andPresident, Grant Billingsley built the ScharbauerFoundation brand and carefully protected itsreputation. He worked with the Board of Directorsto define the Foundation’s priorities, geographicscope, and funding guidelines. He reached beyondthe grant cycles and collaborated with communitypartners, government entities, and other fundersto craft projects that embody the Foundation’svision to “make Midland a better place in which tolive and to operate a business.”Under Billingsley’s leadership, the ScharbauerFoundation solidified its preference for investing incapital projects and supporting requests thatleave a lasting and visible impact on thecommunity. Support from Scharbauer Foundationmade possible the transformation of the former 2024 IN REVIEWGrant Billingsley retires at end of year; Board appointsMary Ann Beninati as CEO & President of Foundation6

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building Harmony Science Academy of Midland.The Foundation and its funding partners, Abell-Hanger Foundation and Permian StrategicPartnership (PSP), made it possible in 2021 forMidland College to expand its Pre-K Academy witha new building. In 2023, Scharbauer and PSPpartnered to fund full scholarships for graduatestudents pursuing advanced degrees in behavioralhealth fields.Under Billingsley, Scharbauer Foundation was anearly donor to the Permian Basin Behavioral HealthCenter and has been involved from the beginningin the creation of The Beacon Alliancedevelopment surrounding the Behavioral HealthCenter. The Foundation supported Midland Healthin its recent campaign to update Midland MemorialHospital and the FMH Outpatient Center. Sinceinception, the Foundation has awarded almost $61million to improve healthcare in Midland andOdessa, with more than $26 million allocated tomental health care. Through his dedication to his community and hiswork, Mr. Billingsley shaped the ScharbauerFoundation into what it is today – a privatefoundation steeped in Midland’s history and poisedto improve its future. Building on this strongfoundation, the Board appointed Mary AnnBeninati to lead the organization following Mr.Billingsley’s retirement in December 2024. Taskedwith growing the Foundation and increasing itsimpact, Ms. Beninati will carry forward his legacywhile advancing the Foundation’s mission tobenefit Midland.Through his dedication to his community and his work, Mr. Billingsleyshaped the Scharbauer Foundation into what it is today - a privatefoundation steeped in Midland’s history and poised to improve its future.7

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BREAKING GROUNDHarmony Public Schools - Harmony Science Academy MidlandProject budget: $72 million Scharbauer Foundation: $7 millionYMCA of Midland - Northwest Midland ExpansionProject budget: $1.75 million Scharbauer Foundation: $500,000Midland Athletic Syndicate - Diamondback Energy Athletic ComplexProject budget: $34 million Scharbauer Foundation: $8.5 millionCUTTING RIBBONSSpectrum of Solutions - Anwar Family Inspiration Center and Inspiration ParkProject budget: $7.6 million Scharbauer Foundation: $1.65 millionSafe Place of the Permian Basin - New Emergency Shelter FacilityProject budget: $25 million Scharbauer Foundation: $4.25 millionWest Texas Food Bank - Odessa Facility Expansion Project budget: $12 million Scharbauer Foundation: $2 millionSenior Life Midland - Fuhrman-Vogel Center Project budget: $15.8 million Scharbauer Foundation: $3.5 million651grants awarded since inception$40MILLIONin grants awarded in 2024$27.3MILLIONin grants paid in 20242024 IN REVIEWScharbauer Foundation, Abell-Hanger Foundation,and Permian Strategic Partnership launchedLeadership Engage in fall 2024 to develop the nextgeneration of community leaders in Midland. Theinaugural class consisted of 39 program participantsand 16 mentors. Participants, selected by anindependent advisory committee, attended sessionsin September and November, with additionalsessions scheduled for February and April 2025. Events are held at the Petroleum Club whereparticipants share a meal and conversation withmentors following a brief presentation fromspeakers including Dr. Jim Denison, CEO of ofDenison Ministries, the Honorable Michael Williamswho served as commissioner of the TexasEducation Agency, and Don Evans, former USSecretary of Commerce and chairman of theGeorge W. Bush Foundation.LEADERSHIPENGAGE8

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CITY AND LOCAL INVESTORS PARTNER ON OMNI HOTELFoundation aims to enhance downtown Midland with mission-aligned investmentScharbauer Foundation explored new avenues toexpand its impact in 2024, taking a strategic stepwith its first mission-aligned investment – a luxuryhotel designed to support downtown revitalizationand benefit the broader community. A premier luxury downtown hotel has long been agoal of the community, as evidenced by severalsimilar projects that did not come to fruition due toan inability to secure funding. Midland DowntownRenaissance, LP (MDR) was created to solicitinvestments from local individuals, businesses, andorganizations to raise the funds needed with littleto no commercial construction financing. A majorstakeholder in the group, HEDLOC InvestmentCompany has been, and continues to serve as, adriving force in the planning, development, anddesign of the project. The City of Midland, through the MidlandDevelopment Corporation, agreed to contribute$45 million toward the project, along withadditional tax incentives. A commitment of up to$30 million in combined capital investment andloans makes Scharbauer Foundation the largestprivate investor.In September, MDR signed an agreement withOmni Hotels & Resorts, making the hotel the 12thOmni property in the state. The Omni MidlandHotel will include approximately 140 guest rooms, a7,000-sf ballroom connected to an outdoor eventdeck, additional meeting spaces, a full-service spaand fitness center, and a pool deck offering daypasses to non-guests. Located adjacent to Centennial Park at the epicenter of downtown, thehotel will feature a lobby bar with indoor andoutdoor seating; a three-meal restaurant servingbreakfast, lunch, and dinner; the Santa Rita Coffeeshop with high-end retail options; and a Bob’sSteak and Chop Restaurant. Plans also call for an 800-space parking garagewith spots reserved for public use. For a hotel of itssize, the Omni Midland will offer an exceptionalarray of amenities, as developers aim to serve notonly hotel guests but the entire Midlandcommunity with restaurants, gathering spaces, andupscale experiences.A key goal of the developers for this project is toattract large conventions and events that havepreviously bypassed Midland due to a lack of high-quality accommodations for out-of-town guests.The Omni Midland’s prime location near the newlyconstructed Bush Convention Center will help drawevents to the venue, providing significant economicbenefits to the community. Scharbauer Foundation’s involvement in the hotelaligns with the Foundation’s mission to “makeMidland a better place in which to live and operatea business” and mirrors the legacy of theScharbauer family that built the Scharbauer Hotelafter oil was discovered in the Permian Basin. With Scharbauer Foundation’s investment, OmniMidland will break ground in 2025 and open in early2028, exactly a century after the Hotel Scharbauerwelcomed guests to downtown Midland. 9

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2024202420242024Scharbauer Foundation awards grants that support public education and boostacademic achievement from early childhood through post-secondary education.EDUCATIONPublic/Civic Benefit grants are awarded for projects that improve quality oflife and add value to the community.PUBLIC/CIVIC BENEFITThe Foundation awards grants in the human services focus area that help providecare and necessities for those in need.HUMAN SERVICESGrants awarded in this focus area increase access to quality physical andbehavioral healthcare.HEALTHCAREFOUNDATION FOCUS AREASPercentage of total awarded80 %60 %40 %20 %0%EDUCATION Target: 25-45%Since Inception: 31%2024: 12%HEALTHTarget: 15-35%Since Inception: 29%2024: 62%PUBLIC/CIVICBENEFITTarget: 15-35%Since Inception: 18%2024: 20%HUMAN SERVICESTarget: 10-25%Since Inception: 16%2024: 5%2024 PERFORMANCE VS TARGET RANGESScharbauer Foundation prefers to award grants to projects that fall within the followingfocus areas, listed in order of importance:GRANTMAKING10

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City of MidlandMidland CountyOrganizations that benefit Midland and OdessaCity of OdessaAwarded in 2024: $4,711,221 (12%)Total awarded: $64,280,996 (31%)EDUCATIONAwarded in 2024: $24,765,868 (62%)Total awarded: $60,710,235 (29%)HEALTHCAREAwarded in 2024: $7,935,000 (20%)Total awarded: $38,498,755 (18%)PUBLIC/CIVIC BENEFITAwarded in 2024: $2,121,127 (5%)Total awarded: $33,462,223 (16%)HUMAN SERVICESGEOGRAPHIC SCOPEScharbauer Foundation awards grants to organizationswithin the following geographic scope:Scharbauer Foundation prefers assisting with capital improvements, construction,or expansion of program capacity. The Foundation generally will not fundconsecutive year non-capital grants.TYPES OF GRANTSGRANTS AWARDED IN 2024$208.6MILLION$40MILLIONGRANTS AWARDED SINCE INCEPTION11

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HARMONY PUBLIC SCHOOLS OPENS MIDLAND CAMPUSClasses start in portable buildings as construction of permanent campus beginsIn fall 2024, Harmony Science Academy welcomedstudents to its campus in northeast Midland.Currently operating in modular buildings, thetuition-free open-enrollment charter school offerspreschool through fifth grade. Harmony brokeground on its permanent buildings in April and ison track to open its elementary school in fall 2025and its middle and high school in fall 2027. Harmony Science Academy received more than850 applications to fill its current 264 seats, farsurpassing its goal of enrolling 200 youngMidlanders. More than half of the studentpopulation comes from economicallydisadvantaged households, and more than aquarter of current students are emergent bilingual.The school successfully filled all administrative andteaching positions in preparation for its firstacademic year. More than a third of local Harmony studentsparticipated in its after-school programs thatincluded activities such as volleyball, studentcouncil, robotics, 3D printing, STEM club, book club,gardening, and arts and crafts.The Midland campus brings the total number ofHarmony Public Schools in Texas to 63. The charterschool currently has one campus operating inOdessa, with a second set to open in 2025. With itsfocus on STEM-centered education and project-based learning opportunities, the majority of Harmony schools earn high ratings from the TexasEducation Agency (TEA). Construction of the Midland campus was madepossible by matching $7 million grants fromScharbauer Foundation and PSP, with anadditional $1.7 million gift from Abell-HangerFoundation, awarded in 2023. Rising costs ofmaterials and construction led to a significantincrease in the project budget. Harmony will issuea $45 million bond and seek a additional privatefunding to complete the project. Harmony projectsfuture enrollment to reach 1,500 with 650elementary school students and 850 students at itsmiddle and high school campus. 12

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Bynum School $750,000 Subsidence Reparations ProjectThe Holdsworth Center $2,145,000 MISD Participation in Aspiring Principals ProgramBaylor College of Medicine $1,032,043 STEM+M Education and Career Pathways at MISDThe Holdsworth Center $600,000 MISD Participation in Campus Leadership ProgramLiteracy Coalition of the Permian Basin $25,000 ESL Programs in Midland and OdessaMidland College Foundation $50,000 Early College High School at MC 2024-2025Midland ISD Education Foundation $11,178 Leadership Training - MISD Trustee BurlesonMidland College Foundation $88,000 Legacy Scholars Program at MC 2024-2025United Way of Midland $10,0002024 Excellence in Education AwardsEDUCATION GRANTS AWARDED $4,711,22113

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FOUNDATION BACKS PROGRAMS FOR PBBHC SUCCESSFoundation awards grants to help staff Permian Basin Behavioral Health CenterFor nearly a decade, Scharbauer Foundation hasworked to increase access to mental health care inthe region. After engaging Meadows Mental HealthPolicy Institute in 2016 to complete an assessmentof mental healthcare in the area, the Foundationcontinued working with community partners toaddress the severe shortage of resources availablein the region where nearly one third of thepopulation faces mental or behavioral healthissues. An early philanthropic supporter of the PermianBasin Behavioral Health Center (PBBHC),Scharbauer Foundation awarded $12 million in2022 for what was then proposed as a 100-bedfacility. In the past two years the project hasdoubled in scope. The Center, set to open in spring2026, will include 200 beds with inpatient andoutpatient mental health services for children andadults. Operating plans for the PBBHC rely on apartnership with Texas Tech Health Science Centerof the Permian Basin (TTUHSC). TTUHSC’spsychiatric residency and child/adolescentfellowship programs will provide the primarymedical support for the Behavioral Health Centerand be housed within the Center.In spring 2024, PBBHC requested funding to helpgrow the TTUHSC psychiatry program to the levelnecessary to cover the medical needs of theBehavioral Health Center. While TTUHSC employedtwo full-time faculty psychiatrists, the PBBHC will require 11 for adequate medical staffing in its seveninpatient units, partial hospitalization, intensiveoutpatient, and outpatient programs. ScharbauerFoundation’s grant of more than $4 million willassist TTUHSC in recruiting nine additional facultypsychiatrists to grow the residency program andsupport the Behavioral Health Center. In another effort to develop the pipeline ofbehavioral health professionals needed to equipthe Behavioral Health Center, the Foundationallocated up to $2.5 million for PBBHC to supportthe Collaborative Care Fellowship Program. Theprogram is a partnership to provide clinical trainingthrough TTUHSC for pre-licensed mental healthprofessionals who have completed their degreeprograms but lack the 3,000 hours of experiencerequired for licensure. Preference will be given torecent graduates of the Behavioral Health Master’sPrograms at University of Texas Permian Basinwith the intent to increase the number of locallicensed behavioral health professionals who willseek employment at the PBBHC or elsewhere inthe community.Fellows in the Program will work in a team withprimary care physicians and psychiatrists to treatpatients experiencing mild to moderate mental orbehavioral health problems. The Program allowsfellows to earn a salary while completing theclinical hours required for licensure. Physiciansmay also bill for services provided by the fellows.The model allows for enough revenue to sustainprogram costs after the first three years. 14

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I-20 Wildlife Preserve $30,000 Education & Job Corps ProgramsNonprofit Management Center of thePermian Basin$55,000 General OperatingCity of Midland $5,000,000 Splash Park at Beal ParkMidland Downtown Park Conservancy $2,500,000 MDPC Endowment FundNortheast Midland County VolunteerFire Department$350,000 Communications Infrastructure UpdatePUBLIC/CIVIC BENEFIT GRANTS AWARDED $7,935,000Community Children’s Clinic $43,950 Equipment Updates & Clinic RenovationsMidland Memorial Foundation $10,000,000 Midland Health Facilities Expansion & RenovationCenters for Children and Families $75,000 General OperatingMedical Center Health System Foundation $5,000,000 ICU Modernization and ExpansionPermiaCare $255,000 Mental Health Crisis Respite Facility Permian Basin Behavioral Health Center $4,174,000 TTUHSC Psychiatry Pipeline Recruiting AssistanceThe Beacon Alliance $2,502,918 General Operating 2025-2026Springboard Center $100,000 General OperatingPermian Basin Behavioral Health Center $2,500,000 Collaborative Care Fellowship ProgramSamaritan Center $65,000General OperatingTeen Challenge of the Permian Basin $50,000 General OperatingHEALTH GRANTS AWARDED $24,765,868Midland Health FacilitiesExpansion & Renovation15

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2024 SEES COMPLETION OF MAJOR CAPITAL PROJECTSFoundation helps three Midland nonprofits finish years-long capital campaignsThree Midland nonprofit organizations wrapped upmajor building projects and moved into newspaces in 2024. Spectrum of Solutions celebratedits new administrative offices with a grand-openingceremony in March. Safe Place of the PermianBasin moved into its Andrews Highway facility inFebruary, and Senior Life welcomed the public for agrand-opening celebration of its new building inJuly. Scharbauer Foundation was honored to beinvolved with all of these projects. As Midland continues to grow, so do theseorganizations that have served the community fordecades. Congratulations to Spectrum of Solutions,Safe Place, and Senior Life for completing years-long projects and preparing to serve moreMidlanders in the future.Spectrum of Solutions kicked off a capitalcampaign in 2019 to improve its A Street campus.The nonprofit celebrated the completion of its five-year $7.6 million project with a grand-openingceremony at the new Anwar Family InspirationCenter. The 16,000-sf building serves as the hub ofSpectrum’s daily operations with staff offices, andspace for trainings and meetings. Campusimprovements also included construction of a2,500-sf day-use building to serve clients withsevere disabilities, and an overhaul of the newlynamed Inspiration Park. Formerly known as MARC, Spectrum of Solutionsstarted in 1959 as a school for children withdisabilities. The organization now offers therapy,intervention, parental support, residential andvocational opportunities, and a daily enrichmentprogram for individuals with intellectual and developmental disabilities. From diagnosis of neurodevelopmental differencessuch as autism or ADHD, Spectrum works withfamilies to provide therapy programs includingApplied Behavioral Analysis, Occupational Therapy,Speech and Language Therapy, and Music Therapy.Spectrum serves adults with disabilities by helpingmatch individuals with employment opportunities,offering residential programs with varying levels ofcare, and providing a day center for adults withsevere disabilities.Safe Place broke ground on its new facility in fall2021, after purchasing 9.8 acres of land on AndrewsHighway in summer 2015 and raising nearly $25million. Serving survivors of family violence in 15West Texas counties, Safe Place operates a 24-hourhotline and an emergency shelter for victims andtheir children that includes meals, clothing, hygieneitems, baby supplies, and emergencytransportation. The nonprofit also providescounseling and legal advocacy for survivors, andeducation for community members. All services forvictims are provided at no cost. The former Safe Place shelter, built in 1987, had 15bedrooms and eight shared bathrooms. Nowlocated within a secure gated parking lot, the newshelter features 24 bedrooms each with a privatebathroom, private counseling spaces, andseparation between residential services andoutpatient counseling. The new facility will allowSafe Place to provide shelter and non-residentialservices to more survivors while prioritizing theirprivacy and safety.Continued on page 1716

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HUMAN SERVICES GRANTS AWARDED $2,121,127Senior Life in fall 2022 broke ground on a newfacility that will accommodate Meals on Wheels, aswell as Senior Life’s other programs, whileproviding office space for staff and room to grow.Until its $15 million capital campaign for a newbuilding, Senior Life Midland operated out of theformer home of the Fuhrman-Vogel family thatwas gifted to the nonprofit in the late 1980s. Founded in 1974, Senior Life works to address thechallenges of aging and help older Midlandersmaintain good health, dignity, and independence.Services for homebound seniors include Meals on Wheels, which provided more than 131,000 hotmeals for 840 seniors in 2023. In addition to Mealson Wheels, the Handyman Program helps seniorssafely live at home by completing home repairs orinstalling features such as grab bars, wheelchairramps, or fire and carbon monoxide detectors; andthe One Day at a Time program addresses on acase-by-case basis some of the challenges facinglow-income homebound seniors. Senior Life also offers programs to help activeseniors engage in the community throughvolunteer work at local nonprofits, in schools, orserving other seniors in the community.From page 16Big Brothers Big Sisters of the Permian Basin $20,000 Marketing for Volunteer RecruitmentCasa de Amigos $185,000 Renovations to Expand Capacity for Adultand Youth Education ProgramsAmerican Red Cross - Permian Basin Chapter $35,000 Midland County Disaster ReliefBoy Scouts of America, Buffalo Trail Council $60,000 Utility Vehicles for Buffalo Trail Scout RanchChristmas in Action $20,000 Window ReplacementsHigh Sky Children’s Ranch $81,850 Security Upgrades & Campus ImprovementsOdessa Christmas in Action $15,000 Workdays and Emergency RepairsToya’s Precious Jewel’s Academy Permian Basin $17,500 Start-up Costs for New Child Care CenterMidland Habitat for Humanity $1,500,000 Infrastructure Work for New DevelopmentRays of Hope Children’s Grief Centre $36,777Building Security UpdatesUnited Way of Midland $150,000 Building Remodel and AdditionOTHER GRANTS AWARDED $880,0002024 Board Directed Gifts $400,000Permian Basin Fellowship of Christian Athletes $20,000 Midland and Odessa Bible Study GroupsMidland Community Theatre $425,000Additional funding for Lobby and EducationDepartment ExpansionTeen Flow $35,000 General Operating17

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FINANCIALSPRELIMINARY STATEMENT OF FINANCIAL POSITIONAs of December 31, 2024$664,879,040CASH 6%$37,554,223TOTAL FMV ASSET MIXAs of December 31, 2024OIL & GAS 15%$99,565,000FMV FIXED INCOME 14%$95,517,151FMV EQUITIES 65%$432,242,666ASSETSCash and Cash EquivalentsFixed AssetsInvestments at CostInvestment in Partnerships at CostTOTAL ASSETS30,575,214689,729420,166,032851,914452,282,889LIABILITIESLiabilitiesCurrent Liabilities/Grants PayableLong Term Liabilities/Grants PayableTotal Liabilities14,996,14521,919,48936,915,634EquityContribution to FoundationUnrestricted Net AssetsTotal Equity48,279,709326,694,52840,393,018Net Income415,367,255TOTAL LIABILITIES & EQUITY 452,282,88918

2024 Annual Report

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