The Fasken Foundation
The Fasken Foundation is a private 501(c)(3) corporate foundation headquartered in Midland, Texas. Founded in 1955, the organization operates as a philanthropic entity focused on supporting nonprofit organizations and educational institutions across West Texas and select communities where board members reside.
Key facts about The Fasken Foundation
- EIN
- 75-6023680
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,719,254
- Grants made (2024)
- 1
- Average grant
- $1,719,254
- Median grant
- $1,719,254
- Total assets
- $44,677,483
- Primary geography
- Texas (100% of itemized 2024 grant dollars)
- How to apply
- All applications must be submitted through the Foundation's online grant management system. Full details ↓
- Deadline
- September 30 (for October meeting)
Data from IRS Form 990-PF, 2024; updated June 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
How The Fasken Foundation gives
- Giving held roughly steady from 2021 to 2024 (+6%). Method
- In 2024 it paid out 89% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with The Fasken Foundation
- How to evaluate The Fasken Foundation as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to The Fasken Foundation with AI
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- Track this opportunity in a free grant tracker
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$44.7M
+2.4% YoY
Annual Giving
$1.7M
+5.1% YoY
Grant Count
1
-99.4% YoY
Avg Grant Size
$1.7M
+18924.7% YoY
Under IRS private-foundation payout rules, The Fasken Foundation reported a distributable amount of $2.2M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Foundation supports organizations involved in education, human services, health, and civic engagement, with particular emphasis on those serving disadvantaged youth. Primary funding areas include:
- Youth programs and services
- Health and in-patient medical care
- Human services, family services, and child welfare
- Education and scholarships
- Civic and community initiatives
The Foundation does not provide funds for capital improvements, preferring instead to support organizations seeking operational funds.
Grantmaking
Review Cycle
**
How to Apply
**
Ready to take the next step with The Fasken Foundation?
Geographic Focus
Where this funder awards grants
Approximately 80% of grant funds are distributed in the Midland, Texas area and surrounding communities in the Permian Basin. The remaining 20% is distributed in other communities where board members reside, including areas in northern Texas and historically in New Mexico (though new applications from New Mexico organizations are no longer being accepted as of August 2025).
Grant Distribution by State
Share of all 1 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024):
- Total assets: $44,677,483
- Total revenues: $3,746,623
- Investment income and dividends: $1,579,232
- Miscellaneous revenues: $2,448,989
Expenses & Giving (2024):
- Total expenses: $2,841,823
- Total giving: $1,635,690
Staffing:
- 3 employees (with 50% yearly growth)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $44,677,483 | $43,613,398 | $42,304,762 |
| Revenue | $3,746,623 | $3,717,106 | $4,909,246 |
| Expenses | $2,841,823 | $2,466,041 | $2,741,650 |
| Qualifying Distributions | $1,947,514 | $1,882,815 | $1,944,240 |
| Net Investment Income | $2,925,031 | $3,052,323 | $4,206,040 |
| Distributable Amount | $2,200,516 | $2,192,196 | $2,223,167 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
650 grants across all recorded years
Open Grants
1 open opportunity from The Fasken Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include See ($1,719,254).
| Recipient | Purpose | Amount |
|---|---|---|
| SEE Schedule, TX | See attached | $1,719,254 |
Leadership & Key People
Leadership team and compensation from IRS filings
Executive Director:
- Jeff Alsup
Board of Directors:
- Lori Merritt Blong (Midland, TX)
- Carey Dukes (Austin, TX)
- Tracy Elms (Midland, TX)
- Steven Fasken (Dallas, TX)
- Alex Hale (Midland, TX)
- Tom Kelly (Dallas, TX)
- Will Krueger (Midland, TX)
- Gerald Nobles, Jr. (Brady, TX)
- John W. Wilkins, Jr. (Odessa, TX)
Staff:
- Nancy Sparr (Administrative Assistant)
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Jeff Alsup | Executive director | 40 | $181,708 |
| John Wilkins Jr | President | 1 | $4,500 |
| Will Krueger | Vice president | 1 | $2,000 |
| Paula Fasken | Sec/Tres | 1 | $3,500 |
| Steve Fasken | Director | 1 | $2,000 |
| Lori Blong | Director | 1 | $3,500 |
| Tracy Elms | Director | 1 | $5,000 |
| Tom Kelly | Director | 1 | $3,000 |
| Alex Hale | Director | 1 | $4,000 |
| Gerald Nobles Jr | Director | 1 | $6,500 |
Contact Information
Mailing Address: P.O. Box 2024 Midland, TX 79702
Office Address: 414 W Texas Ave Ste 306 Midland, Texas 79701
Phone: (432) 683-5401
Email: jeff@faskenfoundation.org
Website: faskenfoundation.org
Frequently Asked Questions
What does The Fasken Foundation fund?
The Foundation supports organizations involved in education, human services, health, and civic engagement, with particular emphasis on those serving disadvantaged youth. Primary funding areas include: • Youth programs and services • Health and in-patient medical care • Human services, family services, and child welfare • Education and scholarships • Civic and community initiatives The Foundation does not provide funds for capital improvements, preferring instead to support organizations seeking…
How do I apply for a grant from The Fasken Foundation?
All applications must be submitted through the Foundation's online grant management system. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does The Fasken Foundation make grants?
Approximately 80% of grant funds are distributed in the Midland, Texas area and surrounding communities in the Permian Basin. The remaining 20% is distributed in other communities where board members reside, including areas in northern Texas and historically in New Mexico (though new applications from New Mexico organizations are no longer being accepted as of August 2025).
What size grants does The Fasken Foundation award?
In 2024, The Fasken Foundation awarded 1 grant totaling $1.7M — an average of about $1.7M per grant, based on its IRS Form 990 filings.
How much is The Fasken Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Fasken Foundation reported a distributable amount of $2.2M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Fasken Foundation's EIN?
The Fasken Foundation's EIN (Employer Identification Number) is 75-6023680. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.