2016-05-09T16:34:02-07:00 2015-12-31 990 2015-01-01 752295008 PERMIAN BASIN AREA FOUNDATION PERM 4326173213 200 N Loraine St Ste 500 Midland TX 79701 Guy McCrary President and CEO 4326173213 2016-05-15 2015 2016-09-27 15:27:22Z Guy McCrary 200 N Loraine Ste 500 Midland TX 79701 81586328 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. 12 12 8 138 -234098 -256403 10593284 5706372 0 0 8834244 5204102 6182737 5919558 25610265 16830032 10209187 11119244 0 0 658576 727607 0 0 151658 1127821 1154569 11995584 13001420 13614681 3828612 122307075 119470406 385022 95000 121922053 119375406 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 11435746 11119244 0 Community capacity building programs: 635 grants to various non-profit organizations and scholarships to individuals; based on approved grant and scholarship applications. 0 0 0 11435746 1 1 0 0 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 10 0 1 8 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NM X X Cyndi Vara 4326173213 200 N Loraine Ste 500 Midland TX 79701 Mike Canon Chair 2 0 X X 0 0 0 Trey Grafa Vice Chair 1 0 X X 0 0 0 Larry Edgerton Past Chair 1 0 X X 0 0 0 Stacey Gerig Treasurer 1 0 X X 0 0 0 Mark Nicholas Secretary 1 0 X X 0 0 0 Kathy Clark Director 1 0 X 0 0 0 Cathy Eastham Director 1 0 X 0 0 0 Cal Hendrick Director 1 0 X 0 0 0 Patty Herd Director 1 0 X 0 0 0 Scott Kidwell Director 1 0 X 0 0 0 Jerry Morales Director 1 0 X 0 0 0 Sandy Louder Director 1 0 X 0 0 0 Guy McCrary President and CEO 40 2 X 180543 0 31837 Cyndi Vara Controller 40 1 X 123833 0 29040 304376 0 60877 2 0 1 0 RBC Wealth Management 550 W Texas Ste 120 Midland TX 79701 Investment Consultant and Management Services 522639 0 0 76216 202187 0 5427969 2286678 5706372 0 2486057 0 -234098 2720155 0 0 0 0 5918006 0 0 5918006 0 0 67442171 0 64724126 0 2718045 0 2718045 0 0 2718045 32170 76216 32170 0 0 0 Other Income 900099 1552 0 0 1552 0 0 0 0 1552 16830032 0 -234098 11357758 10680131 10680131 439113 439113 0 0 0 0 212381 51554 113271 47556 0 0 0 0 409162 135017 256094 18051 34130 9927 22517 1686 31350 9571 20364 1415 40584 12613 24241 3730 0 0 0 0 1237 0 1000 237 62474 0 62474 0 0 0 0 0 0 0 696062 0 696062 0 40992 29331 10828 833 6592 1088 0 5504 24070 6124 16031 1915 45314 9853 31100 4361 0 0 0 0 82346 24705 49407 8234 5617 3255 735 1627 0 0 0 0 8984 3304 4912 768 0 0 0 0 0 0 0 0 7312 2194 4387 731 36683 2193 4387 30103 Ad Valorem Mineral Taxes 75416 0 75416 0 Event Sponsorships 16398 0 0 16398 Newsletter Expenses 9620 5387 2982 1251 Annual Report Expense 9352 0 9352 0 26100 10386 8456 7258 13001420 11435746 1414016 151658 385445 191394 3023490 2899250 0 0 0 0 0 0 0 0 0 0 0 0 33040 40735 121083 97637 25218 23446 101519226 98315820 0 0 0 0 0 0 17320656 17999761 122307075 119470406 0 0 385022 95000 0 0 0 0 0 0 0 0 0 0 0 0 0 385022 95000 X 108931125 109502012 10944423 7829122 2046505 2044272 121922053 119375406 122307075 119470406 X 3828612 -8879275 0 0 0 2504016 X 0 1 X 1 0 X 9176040 9854535 8896501 10593284 2704145 41224505 0 0 0 0 0 0 0 0 0 0 0 0 9176040 9854535 8896501 10593284 2704145 41224505 8795488 32429017 2633513 3726523 4305195 8337931 8404063 27407225 0 0 0 0 0 0 2617 2138 6660 4894 1552 17861 68649591 0 0.47238 0.37877 X Schedule A, Part II, Line 10 Miscellaneous Income RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53 47 3826780 355626 7419048 379858 31657047 11136270 1 1 102187593 10344457 -1035057 10120311 0 789140 100587542 90249096 13995670 8131059 9396745 0 791487 102187593 75845955 10577190 13835855 9324053 0 685851 90249096 63978502 11942029 7386722 6840319 0 620979 75845955 51663027 15150315 1522671 3824339 0 533172 63978502 0.9 0.02 0.08 0 0 0 0 0 0 0 0 0 0 0 0 0 0 121083 97637 23446 0 0 0 0 23446 Accrued interest receivable 81372 Bequests receivable 144363 Beneficial interest in remainder trust 1055097 Beneficial interest in lead trust 1084738 Beneficial interest in perpetual trust 44273 Oil and gas royalties 15398043 Building development costs 27000 Cash surrender value of life insurance 164875 17999761 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 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 2012. Golf Tournament 108386 76216 32170 0 0 0 0 0 32170 0 0 108386 76216 32170 0 0 0 0 0 32170 32170 0 1 Cassatt in the Basin LHS PO Box 80301 Midland TX 79708 270796415 501c3 7000 0 arts and culture Adult Protective Services Advisory Board PO Box 5101 Midland TX 79704 752726547 501c3 7500 0 health and human services Adventures in Missions PO Box 742570 Atlanta GA 30374 650133113 501c3 10000 0 human services Alzheimers Association STAR Chapter 4400 N Big Spring St Ste C32 Midland TX 79705 133039601 501c3 10000 0 health and human services American Cancer Society Hope Lodge 3511 10th Street Lubbock TX 79415 131788491 501c3 50000 0 health and human services American Red Cross Permian Basin Area Chapter PO Box 60310 Midland TX 79711 530196605 501c3 27000 0 health and human services Aphasia Access PO Box 460 Collingswood NJ 08108 465220980 501c3 20000 0 health and human services Aphasia Center of West Texas 5214 Thomason Drive Midland TX 79703 020618732 501c3 41100 0 health and human services AQHA Foundation PO Box 32111 Amarillo TX 79120 510187823 501c3 202500 0 educational Arise Africa 316 Bailey Avenue Suite 113 Fort Worth TX 76107 272014915 501c3 33700 0 health and human services Arts Council of Midland PO Box 3494 Midland TX 79702 751894442 501c3 30100 0 culture and the arts Baptist Memorials Ministries PO Box 5661 San Angelo TX 76902 750983837 501c3 93385 0 Religion Basin PBS PO Box 8940 Midland TX 79708 203221344 501c3 20500 0 education Be The Change Permian Basin PO Box 52643 Midland TX 79710 461288541 501c3 10000 0 Youth Services Big Bend Community Baseball and Softball Inc 301 N 5th Street Alpine TX 79830 273714669 501c3 15000 0 community development Big Bend Conservancy PO Box 200 Big Bend Nat Park TX 79834 752670331 501c3 20000 0 culture and the arts Boys and Girls Club Of Odessa 800 E 13th Street Odessa TX 79761 750990952 501c3 30000 0 youth services Buckner Children & Family Services PO Box 50872 Midland TX 79710 752571395 501c3 45000 0 Youth and Family Services Buffalo Trail Council BSA 1101 W Texas Avenue Midland TX 79701 750800616 501c3 87500 0 youth services Bush Tennis Center 5700 Briarwood Avenue Midland TX 79707 261105431 501c3 78257 0 Youth Services Bynum School PO Box 80175 Midland TX 79708 751932925 501c3 91435 0 educational COM Aquatics 3003 North A Street Midland TX 79705 751254435 501c3 19916 0 Community Services Casa de Amigos 1101 E Garden Lane Midland TX 79701 751240087 501c3 7939 0 Community Services Casa of West Texas 1611 W Texas Midland TX 79701 752871945 501c3 33600 0 human services Cassatt in the Basin OHS Orchestra Booster Club PO Box 1842 Odessa TX 79763 752720103 501c3 7000 0 arts and culture Catholic Charities Community Services of Odessa 2500 Andrews Highway Odessa TX 79761 752233859 501c3 35000 0 community development Center for Christian Growth Inc T Bar M Camps 2549 Hwy 46 West New Braunfels TX 78132 751671920 501c3 250000 0 Religion Centers for Children and Families 1004 N Big Spring Ste 325 Midland TX 79701 751005357 501c3 15000 0 Youth and Family Services Chihuahuan Desert Research Institute PO Box 905 Fort Davis TX 79734 237393204 501c3 25100 0 education Childfund International PO Box 26511 Richmond VA 23286 540536100 501c3 48500 0 health & human services Christmas in Action of Midland PO Box 3744 Midland TX 79702 751731319 501c3 67097 0 community development Church on Wheels PO Box 9402 Midland TX 79708 752758174 501c3 100000 0 Religion City of Midland PO Box 1152 Midland TX 79702 756000608 GOVT 23910 0 Community Services Communities In Schools of the Permian Basin PO Box 10532 Midland TX 79702 752821486 501c3 85100 0 Youth Services Community Childrens Clinic PO Box 3328 Midland TX 79702 751875246 501c3 11824 0 health services Cook Childrens Medical Center 801 7th Avenue Ft Worth TX 76104 752051646 501c3 15500 0 health services Crisis Center 910 B South Grant Odessa TX 79761 751767204 501c3 65000 0 health and human services Education Foundation of Odessa PO Box 951 Odessa TX 79760 752862209 501c3 150000 0 education Evergreen Cemetery Association PO Box 224 Stanton TX 79782 751592717 501c3 20000 0 community development Family Promise of Midland PO Box 7601 Midland TX 79708 271003573 501c3 41702 0 community development and housing Fellowship of Christian Athletes 3500 North A Street Suite 2600 Midland TX 79705 440610626 501c3 50000 0 youth and education First Presbyterian Church 800 West Texas Midland TX 79701 750983832 501c3 125695 0 Religion First United Methodist Church Fort Worth 800 West Fifth Street Fort Worth TX 76102 750800645 501c3 17000 0 Religion Fort Davis Higher Education Foundation PO Box 335 Fort Davis TX 79734 061653768 501c3 33884 0 Education Fort Worth Country Day Fund 4200 Country Day Lane Fort Worth TX 76109 751085363 501c3 25000 0 education Friends of Fort Davis National Historic Site PO Box 1023 Fort Davis TX 79734 742291985 501c3 15000 0 culture and the arts Girl Scouts of the Desert Southwest 5217 N Dixie Odessa TX 79762 750887144 501c3 20000 0 youth services Gladney Center for Adoption 6300 John Ryan Drive Fort Worth TX 76132 750917409 501c3 25000 0 health and human services Good News Ministries PO Box 3315 Midland TX 79702 752629527 501c3 10000 0 Religion Greater Ideal Family Life Center 301 S Tyler Midland TX 79701 043743673 501c3 50000 0 Religion Guadalupe Radio Network PO Box 10571 Midland TX 79702 752648137 501c3 15000 0 Religion Hillcrest School 2800 North A Street Midland TX 79705 752468032 501c3 14542 0 education Historic Cane Hill Inc PO Box 756 Lincoln AR 72744 710653475 501c3 949640 0 Culture Holy Cross Lutheran Church 5110 N Garfield Midland TX 79705 752444841 501c3 10000 0 Religion Howard College Student Financial Aid 1001 Birdwell Lane Big Spring TX 79720 756001827 501c3 6012 0 education Jackson Center for Evangelism PO Box 99 Brownwood TX 76804 860663455 501c3 10000 0 education and youth Junior Achievement of the Permian Basin 306 W Wall Suite 827 Midland TX 79701 751097059 501c3 50000 0 youth and education Junior League of Midland 902 W Dengar Midland TX 79705 751005294 501c3 20000 0 Community Services Lamesa Boys and Girls Club PO Box 826 Lamesa TX 79331 751076737 501c3 60000 0 youth and education Leakey ISD Leakey Scholarship Fund PO Box 1129 Leakey TX 78873 746001593 GOVT 12500 0 education and youth Learning Ally 20 Roszel Road Princeton NJ 08540 131659345 501c3 10000 0 education Make A Wish Foundation of North Texas 407 N Big Spring Suite 208 Midland TX 79701 751889666 501c3 46500 0 Youth Services Marfa Education Foundation PO Box 660 Marfa TX 79843 274545608 501c3 10000 0 youth and education Marfa Public Radio PO Box 238 Marfa TX 79843 562497864 501c3 10000 0 arts and culture Martin County Community Fund PO Box 1189 Stanton TX 79782 200641203 501c3 10000 0 Community Services Martin County Convent PO Box 1435 Stanton TX 79782 752284618 501c3 50000 0 education Methodist Justice Ministry 750 West 5th Street Fort Worth TX 76102 204204172 501c3 7500 0 Religion Midland African American Roots Historical Cultural Arts Council PO Box 50473 Midland TX 79710 752888926 501c3 10000 0 arts and culture Midland Bible Church 5900 Whitman Midland TX 79705 751448418 501c3 650000 0 Religion Midland Childrens Rehabilitation Center 802 Ventura Avenue Midland TX 79705 750912521 501c3 60500 0 health and 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 12000 0 Education Midland Community Development Corporation 208 South Marienfeld Midland TX 79701 752280264 501c3 65000 0 community development Midland Community Theatre 2000 W Wadley Ave Midland TX 79705 756003774 501c3 21500 0 culture and the arts Midland County Public Library Foundation 301 W Missouri Avenue Midland TX 79701 460735772 501c3 20000 0 youth and education Midland Downtown Lions Club Foundation 200 Plaza Street Midland TX 79701 752456179 501c3 23290 0 Community Services Midland Fair Havens 2400 Whitmire Blvd Suite 100 Midland TX 79705 752627746 501c3 55250 0 community development Midland Festival Ballet PO Box 52034 Midland TX 79710 752510710 501c3 15000 0 arts and culture Midland Habitat for Humanity PO Box 2555 Midland TX 79702 752381356 501c3 62600 0 Housing Midland Humane Coalition PO Box 53213 Midland TX 79710 273102777 501c3 25100 0 Community Services Midland ISD Education Foundation PO Box 73 Midland TX 79702 752330628 501c3 6250 0 youth and education Midland Memorial Foundation 400 Rosalind Redfern Grover Parkway Midland TX 79701 750827455 501c3 10312 0 health and human services Midland Need to Read 1709 West Wall Midland TX 79701 752044292 501c3 10600 0 youth and education Midland Odessa Area AIDS Support 800 W Texas Midland TX 79701 752470417 501c3 30000 0 health and human services Midland Opera Theater PO Box 4504 Midland TX 79704 751943679 501c3 10000 0 arts and culture Midland Teen Court 615 W Missouri Ave Ste 226 Midland TX 79701 752503655 501c3 10000 0 education Midland West Rotary PO Box 5303 Midland TX 79704 756067727 501c3 10000 0 Community Services Midland Odessa Symphony and Chorale PO Box 60658 Midland TX 79711 751301544 501c3 122173 0 arts and culture Monahans Chamber of Commerce 401 S Dwight Monahans TX 79756 750444711 501c3 10000 0 Community Services Multiple Sclerosis Society South Central Region 1031 Andrews Hwy Suite 304C Midland TX 79701 741266225 501c3 8261 0 health and human services Muscular Dystrophy Association 600 N Marienfeld Ste 112 Midland TX 79701 131665552 501c3 50000 0 health and human services Museum of the Big Bend PO Box C 101 Alpine TX 79832 746000027 501c3 35000 0 arts and culture New Horizons Ranch and Center Inc 294 Medical Drive Abilene TX 79601 751530340 501c3 60000 0 youth and education Odessa Christian School 2000 Doran Street Odessa TX 79761 751231036 501c3 17068 0 education Odessa Christmas in Action PO Box 15075 Odessa TX 79768 752258032 501c3 25000 0 community development Odessa College Foundation 201 W University Odessa TX 79764 752655037 501c3 54500 0 education Odessa Family YMCA 3001 E University Blvd Odessa TX 79762 751187026 501c3 25000 0 youth and education Odessa Links 119 W 4th Street Ste 201 Odessa TX 79761 752943130 501c3 20000 0 Community Services Parcels of Hope care of First Methodist Church Monahans 600 South Alice Monahans TX 79756 070965001 501c3 19500 0 Community Services Partners Relief and Development PO Box 2066 Redlands CA 92373 223786806 501c3 50000 0 Health and Human Services Permian Basin Rehabilitation Center 620 N Alleghaney Odessa TX 79761 750866501 501c3 25000 0 health and human services Permian Historical Society Dr J Tillapaugh 1517 Englewood Lane Odessa TX 79761 751633051 501c3 6000 0 education Polo on the Prairie PO Box 4470 Houston TX 77210 746000203 501c3 20000 0 health and human services Presbyterian Childrens Homes and Services 4407 Bee Cave Road 520 Austin TX 78746 750818172 501c3 10000 0 youth and education Rape Crisis Victim Services of Big Spring PO Box 2137 Big Spring TX 79721 751980183 501c3 7926 0 health and human services Recording Library of West Texas 3500 North A Street Suite 2800 Midland TX 79705 237075064 501c3 15753 0 Community Services Rock the Desert 2000 South FM 1788 PO Box 61377 Midland TX 79711 300062891 501c3 10000 0 arts and culture SHARE 3500 N A Street Suite 2200 Midland TX 79705 262780706 501c3 45000 0 education Safari Club International West Texas Chapter PO Box 7816 Odessa TX 79760 752960704 501c3 20000 0 conservation Safe Place of the Permian Basin PO Box 11331 Midland TX 79702 751657264 501c3 30000 0 Family Services SCI Foundation 4800 West Gates Pass Road Tucson AZ 85745 860292099 501c3 10000 0 education Senior Link Midland 3301 Sinclair Ave Midland TX 79707 751899190 501c3 20600 0 health and human services Special Olympics Texas 1804 Rutherford Lane Austin TX 78752 741998367 501c3 11272 0 health and human services Springboard Center 200 Corporate Drive Midland TX 79705 752805439 501c3 300000 0 health and human services St Elizabeth Ann Seton Catholic Church 7601 N Grandview Avenue Odessa TX 79765 530196617 501c3 100000 0 Religion St Johns Episcopal Church PO Box 3346 Odessa TX 79760 756004798 501c3 19317 0 Religion St Johns Episcopal School PO Box 3046 Odessa TX 79760 752015719 501c3 25565 0 education St Marys Central Catholic School 1703 Adams Avenue Odessa TX 79761 755033918 501c3 25000 0 education Sunshine House Inc 205 E Sul Ross Ave Alpine TX 79830 741989614 501c3 8000 0 health and human services Teen Challenge PO Box 251 Midland TX 79702 751757538 501c3 35000 0 youth services Teen FLOW PO Box 733 Midland TX 79702 752899609 501c3 12000 0 health and human services Texas A and M Foundation 401 George Bush Drive College Station TX 77840 742245072 501c3 2350000 0 education Texas A and M University 12th Man Foundation PO Box 2800 College Station TX 77841 741185725 501c3 7500 0 education Texas State History Museum Foundation PO Box 12456 Austin TX 78711 742916783 501c3 10000 0 arts and culture Texas Tech Foundation PO Box 41081 Lubbock TX 79409 756043842 501c3 55500 0 education The Association of Former Students Texas A and M University 505 George Bush Drive College Station TX 77840 740490865 501c3 15000 0 education The Genesis Center 2800 W Louisiana Avenue Midland TX 79701 752923564 501c3 10100 0 health and human services The Grace Foundation Accounting Department 800 Rockmead Suite 200 Kingwood TX 77339 364793159 501c3 800000 0 Religion The Kings College Office of Inst Advancement 56 Broadway New York NY 10004 131810448 501c3 100000 0 education The Life Center 2101 W Wall Midland TX 79701 751663590 501c3 25363 0 Health and Human Services The Old Jail Art Center 201 South Second Street Albany TX 76430 132952646 501c3 10000 0 Arts and Culture Trinity School of Midland 3500 West Wadley Midland TX 79707 750995808 501c3 137315 0 Education United Way of Midland 1209 West Wall Midland TX 79701 750945926 501c3 71556 0 Community Services United Way of Odessa PO Box 632 Odessa TX 79760 750838777 501c3 112000 0 Education Programs University of Texas of the Permian Basin Office of Inst Advancement 4901 East University Blvd Odessa TX 79762 751393493 GOVT 106200 0 education Unlock Ministries PO Box 7742 Midland TX 79708 752959142 501c3 20000 0 Religion West Texas Food Bank PO Box 4242 Odessa TX 79760 752057692 501c3 31840 0 health and human services West Texas Gifts of Hope Inc PO Box 891 Odessa TX 79760 272281886 501c3 15000 0 health and human services West Texas Heritage Holdings 200 N Loraine Suite 500 Midland TX 79701 271928634 501c3 305000 0 assignment of real estate contract to WTHH Who We Play For Cypress ECG Project 21212 Northwest Fwy Suite 405 Cypress TX 77429 272018391 501c3 10000 0 health and human services Worldview Academy 1010 W Texas Avenue Midland TX 79701 461822989 501c3 120000 0 education YMCA of Big Spring PO Box 1428 Big Spring TX 79720 750827470 501c3 51714 0 Community Services Young Life Midland 925 W Wadley Midland TX 79705 840385934 501c3 50000 0 youth services 143 0 Educational 250 439113 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 180543 0 0 0 0 0 0 0 31837 0 212380 0 0 0 Cyndi Vara Controller 123833 0 0 0 0 0 0 0 29040 0 152873 0 0 0 X 7 2286678 fair value 0 0 1 1 Schedule M, Part I, Line 32b Upon receipt of publicly traded securities, the Foundation utilizes third party investment managers to sell the securities. Form 990, Part VI, Section B, Line 11b The staff Controller 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. 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 $3,321,203; Change in value of life insurance ($25,638); Change in value of split interest agreement ($574,657); Change in value of bequest receivable ($214,659); Change in value of perpetual trust ($2,233) West Texas Heritage Holdings Inc c/o Guy McCrary 200 N Loraine Ste 500 Midland TX 79701 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 305000 Fair market value on date of grant. West Texas Heritage Holdings Inc c 202187 Fair market value on date of grant.