Mustang Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CLEBURNE, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.5M in total assets. In 2024, it awarded 32 grants totaling $128K. Net investment income was $184K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.5M
+0.2% YoY
Annual Giving
$128K
-64.9% YoY
Grant Count
32
+33.3% YoY
Avg Grant Size
$4K
-73.7% YoY
Under IRS private-foundation payout rules, Mustang Foundation reported a distributable amount of $151K for 2024 — the minimum it must pay out in qualifying distributions.
About Mustang Foundation
Based on IRS filings
Mustang Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CLEBURNE, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.5M in total assets. In 2024, it awarded 32 grants totaling $128K. Net investment income was $184K.
Focus Areas
Ready to take the next step with Mustang Foundation?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,535,180 | $2,529,767 | $2,715,030 |
| Revenue | $184,291 | $98,167 | $94,288 |
| Expenses | $178,974 | $403,038 | $133,487 |
| Qualifying Distributions | $128,000 | $364,459 | $80,749 |
| Net Investment Income | $184,291 | $74,867 | $94,188 |
| Distributable Amount | $150,857 | $132,157 | $130,258 |
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
148 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Burleson Higher Education Fund ($16,500), Children's Advocacy Center of Johnson Cnty ($12,500), Meals on Wheels North Central Texas Inc ($12,500).
| Recipient | Purpose | Amount |
|---|---|---|
| BAYLOR UNIVERSITY WACO, TX | SCHOLARSHIP RECIPIENT CORBIN FORRESTER FALL 2024 | $2,500 |
| BURLESON HIGHER EDUCATION FUND BURLESON, TX | 2024 DONATION FOR SCHOLARSHIPS FOR BURLESON STUDENTS | $16,500 |
| CHILDREN'S ADVOCACY CENTER OF JOHNSON CNTY CLEBURNE, TX | SERVICES TO CHILD VICTIMS OF ABUSE AND NEGLECT | $12,500 |
| CLEBURNE ISD CLEBURNE, TX | JESSE FANTROY SCHOLARSHIP | $1,000 |
| CLEBURNE PREGNANCY CENTER CLEBURNE, TX | FREE PREGNANCY SERVICES TO THE PUBLIC | $500 |
| CLEBURNE ROTARY CLUB FOUNDATION CLEBURNE, TX | SCHOLARSHIPS 2024 | $6,000 |
| EAST CLEBURNE COMMUNITY CENTER CLEBURNE, TX | CHILDREN'S COMMUNITY CENTER OPERATING FUNDS | $10,000 |
| FRIENDSHIP CIRCLE OF KINGS DAUGHTER CLEBURNE, TX | DONATION | $250 |
| HOPE INC KEENE, TX | HEALING OUTREACH PROFESSIONAL ENDEAVOR-FREE MEDICAL | $6,750 |
| HILL COLLEGE CLEBURNE, TX | SCHOLARSHIP RECIPIENT NAOMI VEGA FALL 2024 | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SUE ANN SMITH | TRUSTEE | 0.5 | — |
| WADE WALLACE | TRUSTEE | 0.5 | — |
| MIKE LEHRMANN | TRUSTEE/PRESIDENT | 0.5 | — |
| PAM WATSON | CO-SECRETARY/TREASURER | 0.5 | — |
| MARILYN S KING | TRUSTEE | 0.5 | — |
| PAMELA L SMITH | TRUSTEE | 0.5 | — |
| ROSE NUNN | CO-SECRETARY/TREASURER | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Mustang Foundation?
Mustang Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CLEBURNE, TX. It holds $2.5M in total assets as of 2024.
How large is Mustang Foundation?
As of 2024, Mustang Foundation holds $2.5M in total assets with $184K in annual revenue. It awarded 32 grants totaling $128K in 2024.
Where does Mustang Foundation operate?
Mustang Foundation has awarded grants in Arkansas, Arizona, Florida, Oklahoma, Texas.
What size grants does Mustang Foundation award?
In 2024, Mustang Foundation awarded 32 grants totaling $128K — an average of about $4K per grant, based on its IRS Form 990 filings.
How much is Mustang Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Mustang Foundation reported a distributable amount of $151K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Mustang Foundation's EIN?
Mustang Foundation's EIN (Employer Identification Number) is 75-2815383. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Mustang Foundation's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Glaser Family Charitable Foundation
BONHAM, TX
Assets
$986K
Grants
55
Total Given
$88K
The Robert A Welch Foundation
HOUSTON, TX
Assets
$619.0M
Grants
64
Total Given
$39.3M
Texas Instruments Foundation
DALLAS, TX
Assets
$73.0M
Grants
4,484
Total Given
$22.6M
Folds of Honor Foundation
OWASSO, OK
Assets
$109.1M
Grants
1,611
Total Given
$37.7M
Tulsa Community Foundation
TULSA, OK
Assets
$1.1B
Grants
1,066
Total Given
$158.6M
CJ Wrightsman Educational Fund Inc
FORT WORTH, TX
Assets
$1.1M
Grants
21
Total Given
$188K
The Dallas Foundation
DALLAS, TX
Assets
$491.5M
Grants
788
Total Given
$87.3M
The Fasken Foundation
MIDLAND, TX
Assets
$44.7M
Grants
1
Total Given
$1.7M
Hazlewood Barkley Foundation
CLEBURNE, TX
Assets
$296K
Grants
22
Total Given
$40K
The Buddy Bostick Foundation
WACO, TX
Assets
$12.4M
Grants
50
Total Given
$494K
Community Foundation of North Texas (tax
FORT WORTH, TX
Assets
$544.9M
Grants
872
Total Given
$41.3M
Michael & Susan Dell Foundation
AUSTIN, TX
Assets
—
Grants
835
Total Given
$164.6M
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Mustang Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities