The Fasken Foundation
The Fasken Foundation is a private foundation based in Midland, Texas. It supports nonprofit organizations and educational institutions, with grantmaking focused on the Permian Basin and communities where its board members reside.
The Fasken Foundation at a glance
In short: The Fasken Foundation gave $1.7M across 1 grant in 2024 (avg $1.7M), mostly in Texas. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,719,254
- +5.1% vs 2023
- Grants made (2024)
- 1
- -99.4% vs 2023
- Average grant
- $1,719,254
- +18924.7% vs 2023
- Median grant
- $1,719,254
- Total assets
- $44,677,483
- +2.4% vs 2023
- Primary geography
- Texas (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to The Fasken Foundation
- How to Apply
-
The Foundation accepts applications through its online grants management system and reviews requests quarterly. First-time applicants submit a letter of inquiry online; applicants invited to proceed are asked to submit a full application. Each organization may apply once per year. Applications require a cover letter, the most recent annual financial statement, and proof of 501(c)(3) status if not previously provided in the last calendar year. Additional forms depend on whether the request is for operational or capital-project funding. The Foundation prefers operational support and does not fund capital improvements. It does not make grants to individuals. As of August 2025, it is no longer accepting new applications from New Mexico-based organizations.
- Review Cycle
- Applications are due March 31, June 30, September 30, and December 31, by 5 p.m. The board meets quarterly in April, July, October, and January.
- Deadline
- Applications are due March 31, June 30, September 30, and December 31, by 5 p.m.
- Contact
Application contact: Jeff Alsup
Mailing address: PO Box 2024, Midland, TX 79702
Phone: (432) 683-5401
Website: https://faskenfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from The Fasken Foundation
Who The Fasken Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was See ($1.7M).
Grant Size Distribution
650 grants across all recorded years
The most common grant size was under $50K: 622 grants of 650 (96%).
Geographic Focus
Where this funder awards grants
The Foundation states that approximately 80% of its grant funds are distributed in Midland and the immediate area; the remaining 20% supports communities where board members reside. Requests from those other communities are considered upon recommendation of board members who live there. Its giving guidelines state that it no longer accepts new applications from New Mexico-based organizations as of August 2025.
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.6M (2020) to $1.7M (2024). In 2024 it made 1 grant totaling $1.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| See Schedule, TX | See attached | $1,719,254 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $44,677,483 | $3,746,623 | $2,841,823 | $1,719,254 | 1 | $1,947,514 | $2,925,031 | $2,200,516 |
| 2023 | $43,613,398 | $3,717,106 | $2,466,041 | $1,635,690 | 181 | $1,882,815 | $3,052,323 | $2,192,196 |
| 2022 | $42,304,762 | $4,909,246 | $2,741,650 | $1,711,915 | 168 | $1,944,240 | $4,206,040 | $2,223,167 |
| 2021 | $47,421,766 | $4,666,295 | $3,197,105 | $1,628,252 | 149 | $1,845,341 | $4,049,362 | $2,157,762 |
| 2020 | $45,952,463 | $6,079,329 | $2,377,931 | $1,561,500 | 151 | — | $2,628,814 | $1,181,338 |
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.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s mission is to empower nonprofit partners to transform the lives of underprivileged youth in the Permian Basin and enhance children’s future well-being through strategic grantmaking and educational and vocational scholarships.
It awards competitive grants in education, health, human services, and public benefit, with an emphasis on programs serving disadvantaged youth. The Foundation primarily supports requests related to youth, health and human services, and education. It also offers scholarships in partnership with area high schools and colleges.
Grantmaking
In filing year 2024, the Foundation reported one grant totaling $1,719,254. The filing lists the recipient as “SEE (SCHEDULE, TX)” and the purpose as “See attached”; it does not identify a recipient by name. Because only one grant is listed, that grant was also the smallest, largest, and median grant reported for the year.
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and directors listed on the 2024 filing include Jeff Alsup, executive director; John Wilkins Jr, president; Will Krueger, vice president; and Paula Fasken, secretary/treasurer. The listed directors are Steve Fasken, Lori Blong, Tracy Elms, Tom Kelly, Alex Hale, and Gerald Nobles Jr.
The Fasken Foundation is led by Jeff Alsup, Executive Director on every filing since 2020; all 10 officers listed in 2024 are compensated.
Officers on the 2024 filing
Jeff Alsup
Executive Director
On filings since 2020
40 hrs/week
$150K (2020) → $182K (2024)
John W. Wilkins Jr.
President
Director & Vice President → President, 2024
On filings since 2020
1 hr/week
$4K (2020) → $5K (2024)
Alex Hale
Director
Director → Director & President, 2021
Director & President → Director, 2023
On filings since 2020
1 hr/week
$4K (2020) → $4K (2024)
Gerald C. Nobles Jr.
Director
On filings since 2020
1 hr/week
$7K (2020) → $7K (2024)
Steve Fasken
Director
On filings since 2020
1 hr/week
$2K (2020) → $2K (2024)
Tracy K. Elms
Director
Director → Director & President, 2023
Director & President → Director, 2024
On filings since 2020
1 hr/week
$5K (2020) → $5K (2024)
Lori Blong
Director
On filings since 2023
1 hr/week
$1K (2023) → $4K (2024)
Tom Kelly
Director
New on the 2024 filing
1 hr/week
$3K (2024)
Paula Fasken
Secretary & Treasurer
Director & Secretary → Secretary & Treasurer, 2024
On filings since 2020
1 hr/week
$5K (2020) → $4K (2024)
Will Krueger
Vice President
Director → Vice President, 2024
On filings since 2023
1 hr/week
$500 (2023) → $2K (2024)
Former officers (4)
- Former: Nancy Sparr (2020–2023) — Administrative Assistant
- Former: Susan Fasken Hartin (2020–2023) — Director
- Former: Thomas E. Kelly (2020–2023) — Director
- Former: Tevis Herd (2020–2022) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $182K, to Jeff Alsup (Executive director). 10 officers or directors reported compensation on that filing.
Frequently asked questions about The Fasken Foundation
How much does The Fasken Foundation give each year?
The Fasken Foundation gave $1.7M across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.6M across 181 grants.
How large is The Fasken Foundation?
The Fasken Foundation reported $44.7M in total assets on its 2024 IRS Form 990-PF. It paid out $1.9M in qualifying distributions that year, against a required minimum of $2.2M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Fasken Foundation fund?
The Foundation’s mission is to empower nonprofit partners to transform the lives of underprivileged youth in the Permian Basin and enhance children’s future well-being through strategic grantmaking and educational and vocational scholarships. See mission & focus areas ↑
How do I apply for a grant from The Fasken Foundation?
The Foundation accepts applications through its online grants management system and reviews requests quarterly. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does The Fasken Foundation make grants?
The Foundation states that approximately 80% of its grant funds are distributed in Midland and the immediate area; the remaining 20% supports communities where board members reside. Requests from those other communities are considered upon recommendation of board members who live there.
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.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Fasken Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). The Fasken Foundation funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/the-fasken-foundation-morg_be056c53d5dc433ebb30778d726c4126
BibTeX
@misc{grantable_756023680_2026,
author = {{Grantable}},
title = {{The Fasken Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-fasken-foundation-morg_be056c53d5dc433ebb30778d726c4126},
note = {Accessed 2026-10-15. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Fasken Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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