2019-05-15T11:30:38-07:00 2018-12-31 990 2018-01-01 752295008 PERMIAN BASIN AREA FOUNDATION PERM 4326173213 3312 Andrews Highway Midland TX 79703 Guy McCrary President and CEO 4326173213 2019-05-15 65.36.49.50 2018 2019-02-21 02:37:17Z Guy McCrary 3312 Andrews Highway Midland TX 79703 66011409 0 X www.pbaf.org X 1989 TX Permian Basin Area Foundation facilitates the creation of permanent charitable funds in partnership with many donors, and provides grants to address community needs and enrich the quality of life in the Permian Basin. 11 11 9 85 1095394 0 17572107 17945115 0 0 29607261 7945876 3620214 5777770 50799582 31668761 7551042 6657311 0 0 952777 1013569 0 0 193163 1355624 1917704 9859443 9588584 40940139 22080177 174046938 181903921 45000 10000 174001938 181893921 Permian Basin Area Foundation facilitates the creation of permanent charitable funds in partnership with many donors, and provides grants to address community needs and enrich the quality of life in the Permian Basin. 0 0 6998159 6657311 0 Community capacity building programs: 595 grants to various non-profit organizations and scholarships to individuals; based on approved grant and scholarship applications. 60173 0 0 Community Education includes general outreach to advance the mission of the Foundation and philanthropy in West Texas. During 2018 the Foundation conducted 22 meetings and/or educational events with nonprofits. 0 0 0 7058332 1 1 0 1 0 1 0 0 0 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 19 0 1 9 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X Cyndi Vara 4326173213 3312 Andrews Highway Midland TX 79703 Cal Hendrick Chair 2 0 X X 0 0 0 Mara Barham Vice Chair 1 0 X X 0 0 0 Mark Nicholas Past Chair 1 1 X X 0 0 0 Sande Melton Wier Secretary 1 0 X X 0 0 0 James Flatt Treasurer 1 0 X X 0 0 0 Stacey Brown Director 1 0 X 0 0 0 Mike Canon Director 1 0 X 0 0 0 Bryan Heflin Director 1 0 X 0 0 0 Sandy Louder Director 1 0 X 0 0 0 Todd Meade Director 1 0 X 0 0 0 Jerry Morales Director 1 0 X 0 0 0 Guy McCrary President and CEO 40 2 X 208058 0 31261 Cyndi Vara Chief Financial Officer 40 1 X 146476 0 37925 Aaron Bedell Chief Operating Officer 40 1 X 107736 0 20905 462270 0 90091 3 0 1 0 Fehr's Metal Building Construction LLC PO Box 960 Seminole TX 79360 building construction 1697597 RBC Wealth Management 550 W Texas Ste 120 Midland TX 79701 Investment Consultant and Management Services 643275 Caple Royalty Services LLC 5151 Belt Line Road Suite 375 Dallas TX 75254 marketing of oil and gas royalty interests for sale 214734 UBS Financial Services Inc 1700 West Wall Street Midland TX 79701 Investment Consultant and Management Services 161006 4 0 0 84286 1512388 0 16348441 9819795 17945115 0 4500005 0 -434987 4934992 0 0 0 0 5775582 0 0 5775582 0 0 33596150 4156493 34303903 2869 -707753 4153624 3445871 0 1530381 1915490 35876 84286 35876 0 0 0 Other Income 900099 2188 0 0 2188 0 0 0 0 2188 31668761 0 1095394 12628252 6188736 6188736 468575 468575 0 0 0 0 552359 85696 427753 38910 0 0 0 0 337550 137953 184963 14634 24378 10810 12909 659 41886 15618 23821 2447 57396 14484 39773 3139 0 0 0 0 7825 0 7825 0 0 0 0 0 0 0 0 0 0 0 955093 0 955093 0 333102 1570 331532 0 30003 8321 3844 17838 53972 12346 37374 4252 83328 22114 58594 2620 0 0 0 0 83962 21830 57094 5038 9544 4712 1676 3156 0 0 0 0 14410 5779 6031 2600 0 0 0 0 0 0 0 0 102137 26556 69453 6128 93633 7645 20998 64990 Ad Valorem Mineral Taxes 76589 0 76589 0 Event Sponsorships 36966 11335 230 25401 Annual Report 11773 4474 7299 0 Dues and Memberships 5941 2397 2193 1351 19426 7381 12045 0 9588584 7058332 2337089 193163 325427 536446 9760003 3357330 0 0 16316 0 0 0 0 0 0 0 0 0 43789 34126 4752045 163134 468168 4588911 142070428 150374858 0 0 0 0 0 0 21362807 23012250 174046938 181903921 0 0 45000 10000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 45000 10000 X 162945874 164090765 9006439 0 2049625 17803156 174001938 181893921 174046938 181903921 X 22080177 -14864562 0 0 0 676368 X 0 1 X 1 0 X 10593284 2704145 4464642 9972107 10335091 38069269 0 0 0 0 0 0 0 0 0 0 0 0 10593284 2704145 4464642 9972107 10335091 38069269 6178022 31891247 8337931 8404063 6259004 6648153 10275587 39924738 0 0 0 0 0 0 4894 1552 18074 19404 2188 46112 78040119 0 0.40865 0.39691 X Schedule A, Part II, Line 10 other income 7126 4562 11688 9576896 9588584 629429 157357 0 0 0 0 0 629429 629429 944144 0 0 0 11688 11688 0 0 0 157357 157357 236036 0 0 0 7126 7126 68 62 4747261 2096040 2391720 397815 37944879 17446470 1 1 141765436 22941687 -9012610 4597698 0 1313119 149783696 105268347 29494041 12879434 4941092 0 935294 141765436 100587542 3764712 7488528 5770106 0 802329 105268347 102187593 10344457 -1035057 10120311 0 789140 100587542 90249096 13995670 8131059 9396745 0 791487 102187593 0.9 0.1 0 0 0 0 302813 302813 0 3775959 62933 3713026 0 0 0 0 0 673273 100201 573072 0 0 0 0 4588911 Beneficial interest in remainder trust 1624256 Beneficial interest in lead trust 1090588 Beneficial interest in royalty trust 3358697 Beneficial interest in perpetual trust 44917 Oil and gas royalties 16660243 Cash surrender value of life insurance 233549 23012250 0 0 X Schedule D, Part V, Line 4 The organization's endowment funds are used to provide grants and scholarships to address changing community needs and enrich the quality of life in the Permian Basin. Schedule D, Part X, Line 2 The Foundation is exempt from federal income tax under section 501(a) as a Foundation described in section 501(c)(3) of the Internal Revenue Code (the Code), and has been determined not to be a private foundation under section 509(a) of the Code. As a result, income taxes are not included in the Foundation's consolidated financial statements. The Foundation complies with FASB ASC Topic 740, Accounting for Uncertainty in Income Taxes (Topic 740), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated the Foundation's tax positions and concluded that the Foundation has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. With few exceptions, the Foundation is no longer subject to income tax examinations by the U.S. federal tax authorities for years ending before December 31, 2015. Golf Tournament 120162 84286 35876 0 0 0 0 0 35876 0 0 120162 84286 35876 0 0 0 0 0 35876 35876 0 1 African Childrens Schools 1400 Fieldspring Drive Bakersfield CA 93311 811490071 501c3 20000 0 human services Agape Counseling Services 3500 North A Street Suite 2400 Midland TX 79705 452450285 501c3 25000 0 human services Alamo Heights Baptist Church 1305 N Midland Drive Midland TX 79703 751888207 501c3 8000 0 religion Alpine Christian School 1901 Loop Drive Alpine TX 79830 113763276 501c3 45000 0 education Alpine Public Library 805 West Avenue E Alpine TX 79830 741478092 501c3 25000 0 arts and culture American Cancer Society 2304 W Wadley Ave Midland TX 79705 131788491 501c3 6889 0 human services American Red Cross Permian Basin Area Chapter PO Box 60310 Midland TX 79711 530196605 501c3 25000 0 human services Aphasia Center of West Texas 5214 Thomason Drive Midland TX 79703 020618732 501c3 12500 0 human services Ballroom Marfa PO Box 1661 Marfa TX 79843 200126402 501c3 10000 0 arts and culture Baptist Memorials Ministries PO Box 5661 San Angelo TX 76902 750983837 501c3 71585 0 religion Billy Graham Evangelistic Association 1 Billy Graham Parkway Charlotte NC 28201 410692230 501c3 10400 0 religion Borderlands Research Institute for Natural Resource Management Sul Ross State University PO Box C21 Alpine TX 79832 753138496 501c3 25000 0 education Boys and Girls Club of Midland 1321 S Goode Street Midland TX 79701 751214505 501c3 30000 0 youth and education Boys and Girls Club Of Odessa 800 E 13th Street Odessa TX 79761 750990952 501c3 75000 0 youth and education Bridges for Peace BFP International PO Box 410037 Melbourne FL 32941 753077433 501c3 17600 0 human services Buckner Children and Family Services 425 W Pecan Midland TX 79705 752571395 501c3 88267 0 human services Buffalo Trail Council BSA 1101 W Texas Avenue Midland TX 79701 750800616 501c3 51500 0 youth services Bush Tennis Center 5700 Briarwood Avenue Midland TX 79707 261105431 501c3 105000 0 Community Services Bynum School PO Box 80175 Midland TX 79708 751932925 501c3 28104 0 youth and education COM Aquatics 3003 North A Street Midland TX 79705 751254435 501c3 92873 0 health Casa de Amigos 1101 E Garden Lane Midland TX 79701 751240087 501c3 26734 0 human services Catholic Charities Community Services of Odessa 2500 Andrews Highway Odessa TX 79761 752233859 501c3 12656 0 human services CBM Ministries of the Great Southwest PO Box 1058 Edmond OK 73083 731492684 501c3 7200 0 religion Center for Big Bend Studies PO Box C 72 Alpine TX 79832 753138505 501c3 21000 0 education Centers for Children and Families 3701 Andrews Highway Midland TX 79703 751005357 501c3 42255 0 human services Childfund International PO Box 26511 Richmond VA 23286 540536100 501c3 15000 0 human services Chinati Foundation PO Box 1135 Marfa TX 79843 742340423 501c3 41000 0 arts and culture Christian Church Foundation PO Box 1986 Indianapolis IN 46206 351164552 501c3 85560 0 religion Christmas in Action of Midland PO Box 3744 Midland TX 79702 751731319 501c3 57355 0 housing City of Midland PO Box 1152 Midland TX 79702 756000608 Govt 23337 0 Community Services Clifton Lutheran Sunset Home PO Box 71 Clifton TX 76634 741211662 501c3 7700 0 Human Services Communities In Schools of the Permian Basin PO Box 10532 Midland TX 79702 752821486 501c3 105000 0 education Community Childrens Clinic PO Box 3328 Midland TX 79702 751875246 501c3 10532 0 health Cook Childrens Health Foundation 801 7th Avenue Fort Worth TX 76104 752051649 501c3 50000 0 health Downtown Leakey Inc PO Box 464 Leakey TX 78873 473846841 501c3 22950 0 arts and culture Education Foundation of Odessa PO Box 951 Odessa TX 79760 752862209 501c3 204000 0 education Evergreen Cemetery Association PO Box 224 Stanton TX 79782 751592717 501c3 19650 0 Community Services Family Promise of Odessa PO Box 12781 Odessa TX 79762 261828381 501c3 24000 0 human services First Presbyterian Church 800 West Texas Midland TX 79701 750983832 501c3 25115 0 religion Fort Davis Volunteer Fire Department PO Box 811 Fort Davis TX 79734 752447409 501c3 10000 0 human services Friends Of The Crockett County Library PO Box 3030 Ozona TX 76943 752198848 501c3 5705 0 Community Services Gifts of Hope Inc PO Box 1323 Midland TX 79702 200672472 501c3 20250 0 human services Grady ISD 3500 FM 829 Lenorah TX 79749 756004076 Govt 21000 0 education Grand Companions Humane Society PO Box 1156 Fort Davis TX 79734 850586174 501c3 30000 0 animal services Halo House Foundation 4010 Blue Bonnet Blvd Suite 110 Houston TX 77025 271220705 501c3 100000 0 health Harmony Home Childrens Advocacy Center PO Box 3087 Odessa TX 79760 751633415 501c3 16000 0 youth Harwood Baptist Church PO Box 93 Harwood TX 78632 742386194 501c3 20000 0 religion High Sky Childrens Ranch 8613 W County Rd 60 Midland TX 79707 751155049 501c3 101000 0 family services Hillcrest School 2800 North A Street Midland TX 79705 752468032 501c3 81338 0 youth and education Jackson Center for Evangelism PO Box 99 Brownwood TX 76804 860663455 501c3 10000 0 religion John 414 Foundation PO Box 3577 Midland TX 79702 274237213 501c3 8000 0 human services Junior League of Midland 902 W Dengar Midland TX 79705 751005294 501c3 163708 0 Community Services Kalene Advancement Inc PO Box 206 Angwin CA 94508 811697800 501c3 15000 0 human services Leakey ISD Leakey Scholarship Fund PO Box 1129 Leakey TX 78873 746001593 Govt 136250 0 education Manor Park 2208 N Loop 250 West Midland TX 79707 751227882 501c3 235000 0 human services MARC 2701 North A Street Midland TX 79705 751038411 501c3 90100 0 disabilities Marfa Education Foundation PO Box 660 Marfa TX 79843 274545608 501c3 40000 0 education Marfa Live Arts PO Box 1365 Marfa TX 79843 743011051 501c3 25000 0 arts and culture Marfa Public Radio PO Box 238 Marfa TX 79843 562497864 501c3 106000 0 arts and culture Martin County Community Fund PO Box 1189 Stanton TX 79782 200641203 501c3 25000 0 community services Martin County Convent PO Box 1435 Stanton TX 79782 752284618 501c3 29145 0 Community Services Midland Childrens Rehabilitation Center 802 Ventura Avenue Midland TX 79705 750912521 501c3 120000 0 human services Midland Classical Academy 5711 Whitman Drive Midland TX 79705 752760945 501c3 10000 0 education Midland College Foundation 3600 N Garfield Midland TX 79705 237315067 501c3 23600 0 education Midland Community Development Corporation 208 South Marienfeld Midland TX 79701 752280264 501c3 25000 0 community development Midland Fair Havens 2400 Whitmire Blvd Suite 100 Midland TX 79705 752627746 501c3 55500 0 human services Midland Habitat for Humanity PO Box 2555 Midland TX 79702 752381356 501c3 75100 0 human services Midland Memorial Foundation 400 Rosalind Redfern Grover Parkway Midland TX 79701 750827455 501c3 102534 0 health Midland Rape Crisis and Children's Advocacy Center PO Box 10081 Midland TX 79702 751673093 501c3 15000 0 human services Midland-Odessa Symphony and Chorale PO Box 60658 Midland TX 79711 751301544 501c3 67834 0 arts and culture Museum of the Big Bend PO Box C 101 Alpine TX 79832 746000027 501c3 60100 0 arts and culture Museum of the Southwest 1705 W Missouri Avenue Midland TX 79701 751229711 501c3 57750 0 arts and culture National Kidney Foundation Texas Division Office 5429 LBJ Freeway Suite 250 Dallas TX 75240 131673104 501c3 5421 0 health New Horizons Ranch and Center Inc 294 Medical Drive Abilene TX 79601 751530340 501c3 30000 0 youth services Nonprofit Management Center of the Permian Basin 3500 North A Street Suite 2300 Midland TX 79705 460706163 501c3 50363 0 arts and culture Odessa Chamber Of Commerce PO Box 3626 Odessa TX 79760 750469860 501c3 10000 0 education and community development Odessa Christian School 2000 Doran Street Odessa TX 79761 751231036 501c3 23114 0 education Odessa College Foundation 201 W University Odessa TX 79764 752655037 501c3 51145 0 education Our Lady of Guadalupe Catholic Church PO Box 1488 Fort Stockton TX 79735 371766545 501c3 15000 0 religion Parcels of Hope co First Methodist Church Monahans 600 South Alice Monahans TX 79756 070965001 501c3 24000 0 Human Services Partners Relief and Development PO Box 912418 Denver CO 80291 223786806 501c3 75000 0 Human Services Permian Basin Amputee Alliance 1607 N Adams Odessa TX 79761 823379742 501c3 25000 0 human services Permian Basin Opera 3500 N A Street Suite 2100 Midland TX 79705 751943679 501c3 17000 0 arts and culture Permian Basin Petroleum Museum Library and Hall of Fame 1500 Interstate 20 West Midland TX 79701 756085378 501c3 21000 0 education Permian Basin Rehabilitation Center 620 N Alleghaney Odessa TX 79761 750866501 501c3 45142 0 health Permian Historical Society co Doctor J Tillapaugh 1517 Englewood Lane Odessa TX 79761 751633051 501c3 10000 0 education Permian Playhouse of Odessa 310 W 42nd Odessa TX 79764 751227350 501c3 25000 0 arts and culture Prevent Blindness Texas 1600 N E Loop 410 Suite 125 San Antonio TX 78209 363667121 501c3 10000 0 human services Recording Library of West Texas 3500 North A Street Suite 2800 Midland TX 79705 237075064 501c3 51521 0 human services Roaring Fork Conservancy PO Box 3349 Basalt CO 81621 841375379 501c3 10000 0 environmental conservancy Ronald McDonald House Charities of the Southwest 3413 10th Street Lubbock TX 79415 751915179 501c3 12000 0 health Rope for Youth 3500 North A 1600C Midland TX 79705 461512244 501c3 35000 0 youth and education Safari Club International West Texas Chapter PO Box 7816 Odessa TX 79760 752960704 501c3 10000 0 conservation Safe Place of the Permian Basin PO Box 11331 Midland TX 79702 751657264 501c3 30100 0 human services Salvation Army of Big Spring 811 W 5th Big Spring TX 79720 580660607 501c3 40000 0 youth and education Salvation Army of Midland 300 S Baird Midland TX 79701 750800678 501c3 13227 0 community services Salvation Army of Odessa 810 E 11th Street Odessa TX 79761 750800678 501c3 50000 0 Community Services Samaritan Counseling Center PO Box 60312 Midland TX 79711 751437991 501c3 95000 0 human services SCI Foundation 4800 West Gates Pass Road Tucson AZ 85745 860292099 501c3 10000 0 conservation Senior Link Midland PO Box 80519 Midland TX 79708 751899190 501c3 25600 0 senior services Southwest Radio Church of the Air 500 Beacon Drive Oklahoma City OK 73127 730712306 501c3 14400 0 religion Springboard Center 200 Corporate Drive Midland TX 79705 752805439 501c3 20350 0 human services Saint Anns Catholic Church 1906 W Texas Midland TX 79701 751444946 501c3 51000 0 youth Saint Johns Episcopal Church PO Box 3346 Odessa TX 79760 756004798 501c3 16202 0 religion Saint Johns Episcopal School PO Box 3046 Odessa TX 79760 752015719 501c3 19597 0 education Saint Johns School 2401 Claremont Lane Houston TX 77019 741185668 501c3 25000 0 education Saint Lukes United Methodist Church 3011 W Kansas Midland TX 79701 750855635 501c3 25000 0 education Stanton ISD 200 North College Street Stanton TX 79782 756002506 501c3 79000 0 education Sterling City First United Methodist Church Preschool co First United Methodist Church PO Box 311 Sterling City TX 76951 751529785 501c3 35000 0 education Sul Ross University Student Financial Aid Box C113 Alpine TX 79832 746000027 501c3 10000 0 education TCU Energy Institute TCU Box 298965 Fort Worth TX 76129 750827465 501c3 25000 0 Education Terrell County Independent School District PO Box 747 Sanderson TX 79848 746002263 Govt 75000 0 youth and education Texas A and M Foundation 401 George Bush Drive College Station TX 77840 742245072 501c3 10000 0 arts and culture Texas A and M University Kingsville Kleberg Wildlife Research Inst 700 University Boulevard MSC 218 Kingsville TX 78363 237166534 501c3 20000 0 education Texas Alliance for Minorities in Engineering 10100 Burnet Road R9200 Austin TX 78758 510192147 501c3 12500 0 youth and education Texas Lions Camp Inc PO Box 290247 Kerrville TX 78029 741189679 501c3 25000 0 youth and education Texas State History Museum Foundation PO Box 12456 Austin TX 78711 742916783 501c3 10000 0 arts and culture The Association of Former Students Texas A and M University 505 George Bush Drive College Station TX 77840 740490865 501c3 15000 0 education The Grace Foundation 3705 College Park Drive Suite 140 The Woodlands TX 77384 364793159 501c3 600000 0 education The Immunization Partnership PO Box 5168 Katy TX 77491 760695612 501c3 20000 0 health The Life Center 2101 W Wall Midland TX 79701 751663590 501c3 137797 0 human services The Marathon Foundation 20742 Stone Oak Parkway Suite 107 San Antonio TX 78258 273518399 501c3 15000 0 human services The Marathon Public Library PO Box 177 Marathon TX 79842 463355925 501c3 25000 0 community services Trinity School of Midland 3500 West Wadley Midland TX 79707 750995808 501c3 91097 0 education United Way of Midland 1209 West Wall Midland TX 79701 750945926 501c3 94745 0 community services University of Texas at Austin Cockrell School of Engineering 301 E Dean Keeton Street Stop C2100 Austin TX 78712 746000203 Govt 9000 0 education University of Texas at Austin School of Law KBH Cntr Energy Law and Business 2110 Speedway B6006 Austin TX 78712 746000203 Govt 10000 0 Education University of Texas of the Permian Basin Office of Institutional Advancement 4901 East University Blvd Odessa TX 79762 751393493 GOVT 110050 0 education Ward County Greater Works 922 S Main Street Midland TX 79756 432025340 501c3 90000 0 human services West Texas Food Bank PO Box 4242 Odessa TX 79760 752057692 501c3 75926 0 human services West Texas Heritage Holdings 3312 Andrews Highway Midland TX 79703 271928634 501c3 50000 0 grant to supporting org West Texas Opportunities PO Box 1308 Lamesa TX 79331 751226644 501c3 100000 0 education Who We Play For Cypress ECG Project 21212 Northwest Fwy Suite 405 Cypress TX 77429 272018391 501c3 11668 0 youth Worldview Academy PO Box 2918 Midland TX 79702 461822989 501c3 75000 0 youth and education Young Life Midland 925 W Wadley Midland TX 79705 840385934 501c3 10000 0 youth and education 135 0 Educational 236 468575 0 Schedule I, Part I, Line 2 Organizations receiving grants from Permian Basin Area Foundation are required to report on the status of their grants within two years of the grant award. A standard form is required from all organizations. Students receiving scholarships from Permian Basin Area Foundation sign a contract agreeing to submit grade reports following every semester in which they receive an award from the Foundation. X X X 0 0 0 0 0 0 0 0 0 Guy McCrary President and CEO 208058 0 0 0 0 0 0 0 31261 0 239319 0 0 0 Cyndi Vara Chief Financial Officer 141476 0 5000 0 0 0 0 0 37925 0 184401 0 0 0 Aaron Bedell Chief Operating Officer 101736 0 6000 0 0 0 0 0 20905 0 128641 0 0 0 X 9 6435098 fair value X multi-function copy/scan/print/fax machines 2 26000 fair value X Beneficial interest in royalty trust 1 3358697 present value of future cash flows 0 0 1 1 Schedule M, Part I, Line 32b The organization uses a third party firm to market oil and gas royalties held for sale. Form 990, Part VI, Section B, Line 11b The CFO prepares the Form 990. The independent auditor and CEO review the Form 990; then the Form 990 is reviewed by the Audit Committee of the board. The Audit Committee recommends approval of the Form 990 by the full Board of Governors. The full Board of Governors is provided with a copy of the Form 990 prior to approval by the Board, and prior to filing with the IRS. Form 990, Part VI, Section B, Line 12c Annually, each board member receives a copy of the Foundation's Conflict of Interest Policy. Each board member must also sign an acknowledgement certifying their awareness and understanding of the Conflict of Interest Policy. Also, annually each board member is asked to disclose all of their community and business affiliations to help Foundation staff identify potential conflicts of interest. Form 990, Part VI, Section B, Line 15 The Foundation has adopted the following policy regarding compensation of the Chief Executive Officer: Executive compensation is approved in advance by the Board of Governors (the Board). No member of the Board participating in the compensation decision shall have a conflict of interest with respect to the compensation transaction being reviewed. The Board will obtain and rely upon appropriate data as to comparability, prior to making its compensation determination. In general, the Board will have obtained appropriate data as to comparability if, given the knowledge and expertise of its members, it has information sufficient to determine whether the compensation arrangement is reasonable. The Board will adequately document the basis for its determination concurrently with making that decision. The documentation will include: 1) the terms of the approved transaction and the date on which the transaction was approved, 2) the members of the Board who were present during determination regarding the approved transaction and the members who voted on the matter under consideration, 3)the comparability data obtained and relied upon by the Board and how that data was obtained, 4) the basis for its determination if the Board determines that a specific compensation arrangement is higher or lower than the range of comparability data obtained, and 5) any actions taken with respect to consideration of the transaction by anyone who is otherwise a member of the Board but who had a conflict of interest with respect to the transaction. The documentation for the decision will be prepared before the latter of the next meeting of the Board or 60 days after the final action is taken. This procedure is completed annually. Each year, the Chief Executive Officer obtains and relies upon various salary surveys, both local and national, to determine that the compensation of the Chief Financial Officer and Chief Operating Officer is reasonable. The CEO documents this process in the personnel file for the CFO and COO. Form 990, Part VI, Section C, Line 19 The Foundation makes its governing documents and conflict of interest policy available to the public upon request. The Foundation provides its audited financial statements available to the public on request. The Foundation also includes in its annual report to donors, grantees, vendors, and other interested persons select data from its audited financial statements. Form 990, Part XI, Line 9 change in value of oil and gas royalties $488,646; change in value of split interest agreements $192,430; change in value of perpetual trust ($4,708) West Texas Heritage Holdings Inc c/o Guy McCrary 3312 Andrews Highway Midland TX 79703 271928634 supporting organization TX 501(c)(3) Public Charity N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 West Texas Heritage Holdings Inc b 50000 fair value West Texas Heritage Holdings Inc c 1512388 fair value