2024 Annual Report - San Angelo Area Foundation

Y o u r P a s s io n

Our Purpose

Annual Report

Where Your Passion is

Our Purpose

At the San Angelo Area Foundation, we are blessed to be your philanthropic partner, and our work begins at the intersection of passion and purpose. In this annual report, we have highlighted some of the charitable visions of donors and how this generosity has helped to inspire ideas and ignite action. As we reflect on the past year, we are incredibly thankful for the many community givers who have worked with us to create a fund, contributed to an existing fund, or supported a cause through San Angelo Gives.

What we have learned is our community cares deeply and gives abundantly.

Contributions combined with investment returns exceeded $36 million to 488 funds in 2024. The impact of these gifts resulted in a record $17 million dollars in grants distributed to the causes donors sought to support.

San Angelo Gives celebrated its 10th year raising over $4 million for community organizations. This single day of giving provides the fuel to address critical community needs with vigor. May 6, 2025 will be an incredible day where we can lift others who are truly making an impact.

Make plans to join us!

Building a legacy of philanthropy takes us all and if we haven’t already met, we would love to work with you. Let’s meet at the intersection of passion and purpose.

MATT LEWIS PRESIDENT & CEO

JAY BOYD 2024 BOARD CHAIR

2024 Board of Directors Jay Boyd, Board Chair Patrick Shannon, Vice Chair Brady Johnson, Sec/Tres Camille Yale, Past Chair Jon Bailey Mary Seger Boster Jeff Bozeman Sharanda El Masri Ronnie Hawkins Flor Leos Shelley New Carlos Robledo Gayla Thornton Drew Wallace Troyce Wilcox

Building a Legacy of Philanthropy

Total Grants 2002-2024

$175 MILLION Total Funds

488 Total Assets

Staff Matt Lewis, President & CEO Brianne Killam, CPA, Chief Financial Officer Rebecca Reyes Wilkins, VP Programs Janet Karcher, VP Community Engagement & Marketing Thessalonia Samarripa, Donor Services & Operations Mason Brooks, VP Development Kim Hoelscher, Donor Relations Associate

December 31, 2024

$273 MILLION

Recognized by National Standards for operational excellence demonstrating our commitment to accountability and transparency. This recognition places SAAF among the top community foundations in the nation.

We often think of legacies as what people remember when we are gone, but by partnering with the San Angelo Area Foundation we have been able to witness the impact of our giving during our lifetime. We have been able to support the work of our Church, see our favorite University thrive and provide guidance on supporting causes we deeply care about. This partnership has brought us a sense of fulfillment and purpose to our giving.

TIM & KAREN BENNIE

WHERE GIFTS ARE Guided Legacies

WHERE GIFTS ARE

Guided Legacies

Tim and Karen Bennie have not only enriched the lives of others, they have experienced firsthand the profound joy that comes from giving. In 2014, the Bennie’s worked with the San Angelo Area Foundation to create a donor advised fund and over the past ten years have been able to support causes that align with their passions. “By partnering with the San Angelo Area Foundation, we have been able to support the work of our Church, see our favorite University thrive, and provide guidance on supporting causes we love,” said Tim. The role of the San Angelo Area Foundation is unique and designed to exist in perpetuity.

“When we are gone, we know that the San Angelo Area Foundation will still be here, taking the knowledge learned from our philanthropic priorities and carrying them forward with the next generation of our family.”

POWER OF ENDOWMENTS

2003 Endowment Creation

Accumulated Grant Distributions 5% of a three year rolling average

$250,000 Funds are invested to provide perpetual income

$331,768

2025 Fund Balance $319,026

Fund continues to grow for future grant-making

The power of an endowment example in the chart demonstrates how charitable dollars can make an impact today, while securing the needs of tomorrow. Whether you choose to utilize current assets or a planned gift, the San Angelo Area Foundation is where your passion meets our purpose.

We couldn’t be more grateful for the community support we have seen through San Angelo Gives. Over the past 10 years, donors have generously given, helping us provide hope and healing to those in despair. We couldn’t do this important work without this amazing effort and the impact of San Angelo Gives is literally saving lives.

WEST TEXAS COUNSELING & GUIDANCE

WHERE GENEROSITY ALIGNS WITH Community Needs

WHERE GENEROSITY ALIGNS WITH

Community Needs

One of the most energy-filled days of the year is the first Tuesday in May where donors of all giving levels can support community needs that align with their passions in one simple transaction through sanangelogives.org. The collective response from neighbors across our region empower participating organizations to tackle difficult community challenges with vigor and this single day gives them the fuel to keep pressing forward - uncovering and addressing the most critical needs facing our region.

We are thankful for the thousands of donors whose generous contributions raised over $4 million during San Angelo Gives 2024. There is no shortage of need for nonprofits in the Concho Valley and with each gift, this powerful day has a ripple effect of good, reinforcing the power of collective giving and the impact we can have when we give together.

Through the generosity of so many, we have witnessed the impact when one act of kindness, one spark of hope can ignite an entire community. Join us for San Angelo Gives on May 6th where you can align your generosity with community needs.

SAVE THE DA TE

May 6, 2025 sanange logiv es.org

Visit www.sanangelogives.org to learn more

The generosity of others has significantly enhanced my life, and thanks to a scholarship from SAAF, I am now a graduate student in the Couple Marriage and Family Therapy program at Texas Tech. My current position at the Lubbock County Juvenile Justice Center has given me valuable experience in supporting incarcerated adolescents, which inspires me to continue pursuing this career path.

OLIVIA CROUCH

WHERE PATHS ARE MADE FOR Bright Futures

WHERE PATHS ARE MADE FOR

Bright Futures

Olivia “Libby” Crouch, a 2020 Miles High School graduate remained focused on her goals even after the disruption of a global pandemic changed the landscape of her senior year.

Libby recently graduated from Texas Tech University and is currently enrolled in the graduate program for Couple Marriage and Family Therapy. Known as someone who has a great deal of compassion for others, Libby has displayed a tremendous amount of care helping incarcerated adolescents through the Lubbock County Juvenile Justice Center navigate challenging circumstances. A desire to have a positive impact on others has been the driving force throughout her educational journey.

Inspired by the generosity of the Alvie and Mildred Cole Scholarship Fund, Libby hopes to continue their legacy by giving back to our community. With her unwavering commitment and the support of this scholarship, Libby is on the path to making a lasting impact and plans to use her education to foster healing and growth for others.

Alvie and Mildred Cole spent 61 years of their marriage dedicated to children and their well-being regardless of background.

Their passion inspired family and friends to create the Alvie & Mildred Cole Scholarship Fund. Their legacy is creating a path for students like Olivia.

Alvie & Mildred Cole Scholarship Fund

There is nothing more inspirational than our WWII Veterans and while these service members are declining, Heroes on the Concho will ensure their legacies remain as part of our community. This permanent memorial will represent the thousands of men and women from our region who helped shape our nation, our region and our community.

DR. TAYLOR KINGMAN, MD COMMITTEE CHAIR

WHERE DONOR PASSION Leads to Action

WHERE DONOR PASSION

Leads to Action

The bravery of our WWII Veterans is truly inspirational and has fueled our community to come together to honor the men and women from the Concho Valley who unselfishly served. Heroes on the Concho will pay tribute to their heroism, serving as a permanent reminder of the values of courage, unity, and perseverance. Nestled along the banks of the Concho River, this memorial will include a six-foot bronze statue of a WWII airman, with inscription of names recognizing the Veterans from San Angelo and surrounding area.

This special project honors the past and will serve as a beacon of inspiration for future generations. This memorial will be a physical expression of the enduring legacy of sacrifice and service. As the memorial takes shape, it will stand as a symbol of remembrance, ensuring that the contributions of San Angelo's and surrounding area WWII Veterans will never be forgotten. The memorial will be located on Rio Concho Drive across from the McNease Convention Center.

OUR COMMUNITY. THEIR SERVICE. YOUR GENEROSITY. Artistic and Architectural Rendering Credit to Ben Sum and KFW Architects

HEROESONTHECONCHO.COM

Give for Good enables the Foundation to respond to changing community needs, support innovative solutions to community challenges and enhance the quality of community life in the Concho Valley. By investing in the Give for Good Fund, you join other forward-thinking individuals who recognize an endowment dedicated in perpetuity to our communities’ wellbeing benefits everyone now and generations to come.

WHERE A COMMUNITY ENDOWMENT CAN Give for Good

WHERE A COMMUNITY ENDOWMENT CAN

Give for Good A look at what a SAAF grant can do

Region 15 Education Service Center can prepare the next generation of educators and help to fill the gap as the demand for teachers is on the rise. Through the Texas 3-Step Program, students have a clear pathway from high school to postsecondary education as participants complete coursework, earn the Education Aide I certification, and access dual credit opportunities through local colleges.

The Salvation Army San Angelo has been able to serve and support our community neighbors experiencing homelessness through the renovation and re-opening of the Emergency Shelter.

The need for an operational shelter is vital, especially during inclement weather and this intense effort to re-open provides individuals and families seeking assistance with food and shelter a path to restoration.

Operation Homefront is able to assist military families with back-to-school supplies and needed items to Goodfellow AFB military service members families through their Back-To-School Brigade program. With many service members relying on single income as spouses face employment and childcare challenges due to frequent relocations, Operation Homefront bridges the gap for families and ensures that students are appropriately equipped to be successful in the classroom throughout the school year.

Texas Ramp Project can provide free wheelchair ramps to older low-income adults and neighbors with disabilities. TRP ramps improve the safety and wellbeing of both client and caregiver. These ramps bring safe access, independence, and safe egress in an emergency, especially those living alone. TRP ramps improve quality of life for our neighbors and allows them to remain in their homes longer, among family members and friends who love and care for them.

Learn more by visiting saafound.org/give-for-good

WHERE CHARITABLE ASSETS

Grow for Future Impact

22% Community Development

$9

17%

TOTAL ASSETS IN MILLIONS

2023

2024

$182

$182

Health & Human Services

In 2024, the Foundation awarded more than $17 million to 1,774 grantees. These grants include donor advised, scholarship, designated and field of interest. More than $834,816 was awarded through the Give For Good grant making program.

2022

$273

14%

Religion

2021

$241

2020

Youth

$205

5%

$17 Million Granted

$221

3% Other

$11

39% Education

$13

$15

BY FIELD OF INTEREST

$17

GRANT DISTRIBUTIONS IN MILLIONS

2024 GRANT DISTRIBUTIONS

2020

2021

2022

2023

2024

Financial Highlights As of December 31, 2024 2023

2024

Cash and cash equivalents Investments at market Beneficial interest in charitable remainder trust Other assets

$7,715,935 $212,550,520 $14,118,033 $7,057,428

$3,056,015 $251,525,655 $15,417,713 $3,250,552

Total Assets

$241,441,916

$273,249,935

Payables Present value of split interest trust Funds held as agency endowments

$4,183,280 $2,285,292 $67,015,682

$1,925 $1,799,967 $83,777,559

Total Liabilities Total Net Assets

$73,484,254 $167,957,662

$85,579,451 $187,670,484

Total Liabilities and Net Assets

$241,441,916

$273,249,935

Contributions Net Investment Income

$15,067,512 $22,197,525

$16,895,006 $19,657,525

Total Revenue, Gains and Other Support

$37,265,037

$36,552,531

Grants, distributions and program expenses Management and operating expense

$13,078,919 $1,213,325

$16,982,554 $1,314,628

Total Grants and Expenses

$14,292,244

$18,297,182

$2,414,247

$1,457,473

Change in Net Assets Net Assets, Beginning of Year

$25,387,040 $142,570,622

$19,712,822 $167,957,662

Net Assets, End of Year

$167,957,662

$187,670,484

Assets

Liabilities and Net Assets

Summarized Statement of Activities (net of agency funds)

Grants and Expenses

Change in value of split interest agreements

The financial information above has been summarized from the financial statements of the San Angelo Area Foundation. SAAF financial statements are audited annually by Condley and Company, LLP, of Abilene Texas an independent public accounting firm.

For a complete copy of the audit visit www.saafound.org/financials.

MISSION The mission of the San Angelo Area Foundation is to build a legacy of philanthropy by attracting and prudently managing endowment funds that match donor interests with community needs.

As your philanthropic partner, our team at the San Angelo Area Foundation is here to help and is where your passion meets

OUR PURPOSE

BUILDING A LEGACY OF PHILANTHROPY

221 S. IRVING ST. SAN ANGELO, TX 76903 325-947-7071 | SAAFOUND.ORG