The Eugene McDermott Foundation
The Eugene McDermott Foundation is a private grantmaking foundation based in Dallas, Texas, designated as a 501(c)(3) organization. The foundation has been tax-exempt since November 1972 and operates as a private foundation (501(c)(3)-PF). The organization carries forward a multi-generational legacy of philanthropic support rooted in the vision and values of Eugene McDermott, a scientist, businessman, and philanthropist who co-founded Texas Instruments and established a lasting commitment to community advancement across education, healthcare, and the arts.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$131.0M
-20.7% YoY
Annual Giving
$55.5M
-8.8% YoY
Grant Count
140
+30.8% YoY
Avg Grant Size
$396K
-30.3% YoY
Mission & Focus Areas
The foundation's grantmaking reflects a broad commitment to community benefit, with documented support across multiple sectors including higher education, medical research and healthcare, and the arts. The foundation has historically supported academic institutions and research centers, with particular emphasis on advancing medical education and research capabilities.
Grantmaking
Recent grantmaking activity demonstrates the foundation's continued engagement:
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking is centered in Texas, with particular focus on the Dallas region. However, support extends beyond Texas to national institutions, including Massachusetts Institute of Technology.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $165 million
- Annual Revenue: $17 million
- Annual Expenses: $62.1 million
- Total Liabilities: $0
As of 2015:
- Assets: $76,267,974
- Revenue: $2,793,257
- Expenses: $6,676,468
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $130,982,643 | $165,197,833 | $210,882,052 |
| Revenue | $21,345,393 | $16,997,683 | $12,213,061 |
| Expenses | $56,627,094 | $62,050,172 | $21,859,397 |
| Qualifying Distributions | $55,559,509 | $60,892,090 | $20,645,832 |
| Net Investment Income | $20,543,447 | $16,017,380 | $11,142,115 |
| Distributable Amount | $10,291,509 | $11,395,283 | $13,167,842 |
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 2025
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Mary McDermott Cook is listed as President of the foundation.
The foundation's legacy is rooted in Eugene McDermott, who co-founded the organization's enduring commitment to philanthropy beginning in 1950. His wife, Margaret McDermott, continued and expanded this legacy throughout her lifetime, making significant contributions to educational and cultural institutions.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Mary McDermott Cook | Pres Trustee | 10 | — |
| J H Cullum Clark | Trustee | 1 | — |
| Patricia Brown | Assistant Sec | 20 | $34,000 |
| Sam Self | Trustee | 1 | — |
| Liza Lee | Trustee | 1 | — |
| Joe Hubach | Trustee | 1 | — |
| Grace Cook | Trustee | 1 | — |
Recent News & Activity
Recent developments and announcements
In 2025, the Eugene McDermott Foundation announced a historic $500,000 gift to the Texas Contemporary Art Association, demonstrating continued commitment to supporting the arts in Dallas.
Historic $500000 Gift from The Eugene McDermott FoundationThe foundation's historical impact includes establishing multiple named facilities and endowments at UT Southwestern Medical Center, including the Eugene McDermott Academic Administration Building and Plaza, the Eugene McDermott Center for Human Growth and Development, the Eugene McDermott Center for Pain Management, and the Eugene McDermott Distinguished Chair for the Study of Human Growth and Development. Margaret McDermott's $32 million gift to UT Dallas in 2000 created the Eugene McDermott Scholar program, which has supported multiple generations of students.
Historic $500000 Gift from The Eugene McDermott FoundationRelated Funders
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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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