Beal Foundation
The Beal Foundation is a private family foundation established in 1963 by Keleen and Carlton Beal. Based in Midland, Texas, it operates as a 501(c)(3) tax-exempt organization dedicated to improving the quality of life in the Midland community. The foundation has maintained a consistent commitment to local impact over six decades, supporting 186 organizations since its inception.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$81.4M
+14.4% YoY
Annual Giving
$5.8M
-15.7% YoY
Grant Count
88
+7.3% YoY
Avg Grant Size
$66K
-21.5% YoY
Mission & Focus Areas
The foundation's mission is to contribute to the betterment of Midland, Texas, with a focus on:
- Education
- Health
- Humanities
- Welfare
The foundation evaluates grant requests based on organizational mission, demonstrated need, other available support, and the foundation's historical relationship with each organization.
Grantmaking
Applicants must be:
Grant Range
$1,000 to $500,000
Average Grant
Approximately $84,000 (2023)
Review Cycle
annually
How to Apply
**
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Geographic Focus
Where this funder awards grants
The Beal Foundation exclusively funds organizations in the Midland, Texas area.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $81.4 million
- Total liabilities: $0
As of 2023:
- Revenue: $13.6 million
- Expenses: $8.89 million
- Net income: $4.7 million
- Total assets: $71.2 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $81,398,963 | $71,150,479 | $66,431,632 |
| Revenue | $18,166,151 | $13,613,360 | $18,015,271 |
| Expenses | $7,917,667 | $8,894,513 | $9,741,857 |
| Qualifying Distributions | $5,995,410 | $7,046,714 | $7,382,155 |
| Net Investment Income | $16,301,293 | $11,628,908 | $16,985,606 |
| Distributable Amount | $4,902,784 | $3,963,394 | $3,615,554 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
1 open opportunity from Beal Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is managed by the Beal family with the following board members:
- Elizabeth Beal Davenport (Chairman/President)
- Spencer Beal
- Barry Beal Jr.
- Stuart Beal (Secretary/Treasurer)
- Michael Beal
- Alex Beal
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SPENCER BEAL | TRUSTEE | — | — |
| BARRY BEAL JR | TRUSTEE | — | — |
| STUART BEAL | SECRETARY/TREASURER | — | — |
| STEVE SCHORR | TRUSTEE | — | — |
| ELIZABETH BEAL DAVENPORT | CHAIRMAN/PRESIDENT | — | — |
| KARLENE BEAL GARBER | TRUSTEE | — | — |
| STEVE HOFER CO COTTON BLEDSOE | TRUSTEE | — | — |
| LAURA BUCKNER | TRUSTEE | — | — |
| ALEX BEAL | TRUSTEE | — | — |
| MICHAEL BEAL | TRUSTEE | — | — |
| HILL DAVENPORT | TRUSTEE | — | — |
| CALLIE FUQUA | TRUSTEE | — | — |
| ASHLEY LAFEVERS | TRUSTEE | — | — |
| ADAM DAVENPORT | TRUSTEE | — | — |
| PHILLIP BEAL | TRUSTEE | — | — |
Contact Information
Address: 104 S Pecos St, Midland, TX 79701-5021
Phone: 432-682-3753
Website: https://thebealfoundation.org
Application Portal: https://thebealfoundation.submittable.com/submit
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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