Clifton Foundation

Waco, TX
Tax-exempt since Aug. 1997
EIN: 74-2832766

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$316k (2024)

Expenses

$202k (2024)

Total Assets

$3.7M (2024)

Total Liabilities

$36.1k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$315,895

Expenses

$202,011

Net Income

$113,884

Net Assets

$3,667,229

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$31	0.0%
Dividends	$84,114	26.6%
Sales of Assets	$143,103	45.3%
Other Income	$88,647	28.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$129,142	63.9%
Compensation of Officers*	$36,053	17.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,703,282
Total Liabilities	$36,053
Net Assets	$3,667,229

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$12,018	$0
William L Clifton Jr (V/P)	$12,018	$0
David Nemec (Sec/Treas)	$12,018	$0

990-PF

Filed on Nov. 3, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$179,728

Expenses

$260,891

Net Income

-$81,163

Net Assets

$3,416,906

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$93	0.1%
Dividends	$56,714	31.6%
Sales of Assets	$41,972	23.4%
Other Income	$80,949	45.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$181,038	69.4%
Compensation of Officers*	$34,522	13.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,416,906
Total Liabilities	$0
Net Assets	$3,416,906

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$11,507	$0
William L Clifton Jr (V/P)	$11,507	$0
David Nemec (Sec/Treas)	$11,507	$0

990-PF

Filed on Nov. 14, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing

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PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2022

Revenue

$232,039

Expenses

$189,774

Net Income

$42,265

Net Assets

$3,439,333

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$35	0.0%
Dividends	$35,714	15.4%
Sales of Assets	$110,741	47.7%
Other Income	$85,549	36.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$119,480	63.0%
Compensation of Officers*	$34,397	18.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,439,333
Total Liabilities	$0
Net Assets	$3,439,333

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$11,466	$0
William L Clifton Jr (V/P)	$11,466	$0
David Nemec (Sec/Treas)	$11,466	$0

990-PF

Filed on Nov. 9, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Revenue

$164,715

Expenses

$187,552

Net Income

-$22,837

Net Assets

$3,491,426

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$38	0.0%
Dividends	$55,012	33.4%
Sales of Assets	$68,755	41.7%
Other Income	$40,910	24.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$118,755	63.3%
Compensation of Officers*	$34,332	18.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,491,426
Total Liabilities	$0
Net Assets	$3,491,426

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$11,444	$0
William L Clifton Jr (V/P)	$11,444	$0
David Nemec (Sec/Treas)	$11,444	$0

990-PF

Filed on Nov. 3, 2022

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2020

Revenue

$167,100

Expenses

$243,148

Net Income

-$76,048

Net Assets

$3,335,268

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,334	2.6%
Dividends	$71,182	42.6%
Sales of Assets	$22,560	13.5%
Other Income	$69,024	41.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$176,730	72.7%
Compensation of Officers*	$32,402	13.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,335,269
Total Liabilities	$1
Net Assets	$3,335,268

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$10,801	$0
William L Clifton Jr (V/P)	$10,801	$0
David Nemec (Sec/Treas)	$10,800	$0

990-PF

Filed on Nov. 3, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing

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PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$210,077

Expenses

$243,905

Net Income

-$33,828

Net Assets

$3,339,063

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$293	0.1%
Dividends	$71,712	34.1%
Sales of Assets	$74,561	35.5%
Other Income	$63,511	30.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$175,480	71.9%
Compensation of Officers*	$32,495	13.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,339,064
Total Liabilities	$1
Net Assets	$3,339,063

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$10,832	$0
David Nemec (Sec/Treas)	$10,832	$0
William L Clifton Jr (V/P)	$10,831	$0

990-PF

Filed on Oct. 22, 2020

Primary tax return for a private foundation's activities, finances, and governance

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XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2018

Revenue

$144,307

Expenses

$248,186

Net Income

-$103,879

Net Assets

$3,039,752

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$90	0.1%
Dividends	$48,590	33.7%
Sales of Assets	$37,835	26.2%
Other Income	$57,792	40.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$175,280	70.6%
Compensation of Officers*	$42,054	16.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,039,752
Total Liabilities	$0
Net Assets	$3,039,752

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$14,018	$0
William L Clifton Jr (V/P)	$14,018	$0
David Nemec (Sec/Treas)	$14,018	$0

990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Revenue

$208,033

Expenses

$221,702

Net Income

-$13,669

Net Assets

$3,363,675

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$799	0.4%
Dividends	$47,107	22.6%
Sales of Assets	$106,170	51.0%
Other Income	$53,957	25.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$167,305	75.5%
Compensation of Officers*	$24,540	11.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,363,675
Total Liabilities	$0
Net Assets	$3,363,675

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$8,180	$0
William L Clifton Jr (V/P)	$8,180	$0
David Nemec (Sec/Treas)	$8,180	$0

990-PF

Filed on Nov. 6, 2018

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Revenue

$129,753

Expenses

$231,633

Net Income

-$101,880

Net Assets

$3,228,105

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$7,981	6.2%
Interest Revenue	$49	0.0%
Dividends	$64,022	49.3%
Sales of Assets	$6,129	4.7%
Other Income	$51,572	39.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$164,205	70.9%
Compensation of Officers*	$32,040	13.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,228,105
Total Liabilities	$0
Net Assets	$3,228,105

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$10,680	$0
William L Clifton Jr (V/P)	$10,680	$0
David Nemec (Sec/Treas)	$10,680	$0

990-PF

Filed on Nov. 7, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing

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PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Revenue

$732,720

Expenses

$222,930

Net Income

$509,790

Net Assets

$3,082,652

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$576,369	78.7%
Interest Revenue	$413	0.1%
Dividends	$71,454	9.8%
Sales of Assets	$38,542	5.3%
Other Income	$45,942	6.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$164,155	73.6%
Compensation of Officers*	$33,095	14.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,082,652
Total Liabilities	$0
Net Assets	$3,082,652

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$11,032	$0
William L Clifton Jr (V/P)	$11,032	$0
David Nemec (Sec/Treas)	$11,031	$0

990-PF

Filed on Nov. 10, 2016

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$203,821

Expenses

$222,351

Net Income

-$18,530

Net Assets

$2,802,069

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$400	0.2%
Dividends	$67,958	33.3%
Sales of Assets	$132,255	64.9%
Other Income	$3,208	1.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$152,482	68.6%
Compensation of Officers*	$30,079	13.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,802,069
Total Liabilities	$0
Net Assets	$2,802,069

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$10,027	$0
William L Clifton Jr (V/P)	$10,026	$0
David Nemec (Sec/Treas)	$10,026	$0
Mary L Clifton Chase Until 122014 (Sec)	$0	$0

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990-PF

Filed on Nov. 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$485,694

Expenses

$186,592

Net Income

$299,102

Net Assets

$2,976,209

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$308,424	63.5%
Interest Revenue	$286	0.1%
Dividends	$59,089	12.2%
Sales of Assets	$117,462	24.2%
Other Income	$433	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$137,357	73.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,976,209
Total Liabilities	$0
Net Assets	$2,976,209

Compensation

Key Employees and Officers	Compensation	Other
James R Clifton (President)	$0	$0
William L Clifton Jr (V/P)	$0	$0
Mary Lacy Clifton Chase (Sec)	$0	$0
David Nemec (Treas)	$0	$0

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990-PF

Filed on Nov. 10, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$334,646

Expenses

$183,493

Net Income

$151,153

Net Assets

$2,556,173

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$17	0.0%
Dividends	$90,851	27.1%
Sales of Assets	$243,755	72.8%
Other Income	$23	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$129,527	70.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,556,174
Total Liabilities	$1
Net Assets	$2,556,173

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$244,412

Expenses

$166,782

Net Income

$77,630

Net Assets

$2,469,145

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$63	0.0%
Dividends	$82,640	33.8%
Sales of Assets	$161,674	66.1%
Other Income	$35	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$117,803	70.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,469,145
Total Liabilities	$0
Net Assets	$2,469,145

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Clifton Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $316k (2024)

Expenses $202k (2024)

Total Assets $3.7M (2024)

Total Liabilities $36.1k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Revenue

$316k (2024)

Expenses

$202k (2024)

Total Assets

$3.7M (2024)

Total Liabilities

$36.1k (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001