ANGELO STATE UNIVERSITY ROBERT G CARR A FOUNDATION

EIN: 751658292 501(c)(3) Education

SAN ANGELO, TX

Total Revenue
$8,159,287
Total Expenses
$12,527,618
Total Assets
$180,954,452
Net Assets
$180,388,945
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
TX
Principal Officer
RONNIE D HAWKINS JR
Phone
3259422237
Tax Period
2023-09-01 to 2024-08-31

ANGELO STATE UNIVERSITY ROBERT G CARR A FOUNDATION, founded in 1978, is a community nonprofit in the Education sector that reported $8.2M in total revenue in fiscal year 2023. Expenses of $12.5M exceeded revenue, resulting in a 54% operating deficit.

Mission

THE ANGELO STATE UNIVERSITY ROBERT G. CARR AND NONA K. CARR SCHOLARSHIP FOUNDATION WAS ESTABLISHED UNDER THE WILLS OF ROBERT G. CARR AND NONA K. CARR. THE WILLS PROVIDE THAT ALL PROCEEDS FROM OIL, GAS AND OTHER MINERAL PROPERTIES BE HELD AND INVESTED BY THE TRUSTEES AND THAT THE NET INVESTMENT INCOME REALIZED FROM SUCH INVESTMENTS (EXCLUDING REALIZED GAINS AND LOSSES ON SALES OF INVESTMENT SECURITIES), AFTER THE PAYMENT OF ALL COSTS AND EXPENSES OF THE FOUNDATION, BE PAID INTO A DESIGNATED SCHOLARSHIP FUND OF ANGELO STATE UNIVERSITY " ASU" (SUPPORTED ORGANIZATION) FOR THE PURPOSE OF PROVIDING ACADEMIC SCHOLARSHIPS FOR NEEDY AND WORTHY STUDENTS ENROLLED AT ASU.

Program Service Accomplishments

Program 1
Expenses: $11,941,767

SCHOLARSHIP-PAYMENTS WERE MADE INTO A DESIGNATED FUND OF ANGELO STATE UNIVERSITY FROM WHICH ACADEMIC SCHOLARSHIPS ARE AWARDED TO NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY. DURING...

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SCHOLARSHIP-PAYMENTS WERE MADE INTO A DESIGNATED FUND OF ANGELO STATE UNIVERSITY FROM WHICH ACADEMIC SCHOLARSHIPS ARE AWARDED TO NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY. DURING THE 2023-2024 TAX YEAR, THE FOUNDATION TRANSFERRED $11,941,767 TO THE UNIVERSITY TO BE USED FOR SCHOLARSHIPS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $2,326,730
Other Revenue $5,832,557
TOTAL REVENUE $8,159,287

Expense Breakdown

Grants Paid $11,941,767
Salaries & Benefits $165,925
Fundraising Expenses $0
Program Expenses $11,941,767
Other Expenses $419,926
TOTAL EXPENSES $12,527,618

Year-over-Year Comparison

2023 2022 Change
Revenue $8,159,287 $8,534,752 0.0%
Expenses $12,527,618 $11,930,065 +0.1%
Net Income $-4,368,331 $-3,395,313 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
3
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$108,568
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK GRIFFIN CHAIRMAN 1.00
Officer Director
$0 $0 $0
GINGER KERRICK DAVIS VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
JAD ZEITOUNI STUDENT REGENT 1.00
Officer Director
$0 $0 $0
DUSTY WOMBLE TRUSTEE 1.00
Director
$0 $0 $0
CODY CAMPBELL TRUSTEE 1.00
Director
$0 $0 $0
ARCILIA ACOSTA TRUSTEE 1.00
Director
$0 $0 $0
PAT GORDON TRUSTEE 1.00
Director
$0 $0 $0
CLAY CASH TRUSTEE 1.00
Director
$0 $0 $0
TIM CULP TRUSTEE 1.00
Director
$0 $0 $0
DR SHELLEY SWEATT TRUSTEE 1.00
Director
$0 $0 $0
CANDICE UPTON BREWER DIRECTOR OF OPERATIONS 40.00
Officer
$91,761 $16,807 $108,568
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $8,159,287 $12,527,618 $180,954,452 $-4,368,331
2023 $8,534,752 $11,930,065 $172,696,390 $-3,395,313
2022 $11,577,342 $11,529,493 $181,505,215 $47,849
2021 $4,176,344 $10,762,740 $175,014,798 $-6,586,396
2020 $8,079,156 $9,769,591 $138,035,356 $-1,690,435
2019 $64,941 $10,097,279 $146,241,543 $-10,032,338
2018 $10,596,687 $9,312,040 $153,810,595 $1,284,647
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