Charles C Matthews Foundation

Carthage, TX
Tax-exempt since April 1999
EIN: 75-2741045

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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

$1.32M (2024)

Expenses

$1.13M (2024)

Total Assets

$13.7M (2024)

Total Liabilities

$0 (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

$1,323,608

Expenses

$1,125,498

Net Income

$198,110

Net Assets

$13,666,132

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$252	0.0%
Dividends	$203,620	15.4%
Sales of Assets	$661,214	50.0%
Other Income	$451,522	34.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$798,711	71.0%
Compensation of Officers*	$325,000	28.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,666,132
Total Liabilities	$0
Net Assets	$13,666,132

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$65,000	$0
Richard Ballenger (Trustee)	$65,000	$0
Jimmy D Payne (Trustee)	$65,000	$0
David Bush (Trustee)	$65,000	$0
Vermoyn D Reeder (Trustee)	$65,000	$0

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990-PF

Filed on May 5, 2025

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

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Fiscal Year Ending Dec.
2023

Revenue

$747,368

Expenses

$1,186,888

Net Income

-$439,520

Net Assets

$13,473,748

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$317	0.0%
Dividends	$190,776	25.5%
Sales of Assets	$121,298	16.2%
Other Income	$427,977	57.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$813,626	68.6%
Compensation of Officers*	$325,000	27.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,473,748
Total Liabilities	$0
Net Assets	$13,473,748

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$65,000	$0
Richard Ballenger (Trustee)	$65,000	$0
Jimmy D Payne (Trustee)	$65,000	$0
David Bush (Trustee)	$65,000	$0
Vermoyn D Reeder (Trustee)	$65,000	$0

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990-PF

Filed on May 10, 2024

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

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XML

Fiscal Year Ending Dec.
2022

Revenue

$705,313

Expenses

$1,195,684

Net Income

-$490,371

Net Assets

$13,918,510

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$245	0.0%
Dividends	$182,926	25.9%
Sales of Assets	$4,764	0.7%
Other Income	$510,378	72.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$871,728	72.9%
Compensation of Officers*	$305,000	25.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,918,510
Total Liabilities	$0
Net Assets	$13,918,510

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$61,000	$0
Richard Ballenger (Trustee)	$61,000	$0
Jimmy D Payne (Trustee)	$61,000	$0
David Bush (Trustee)	$61,000	$0
Vermoyn D Reeder (Trustee)	$61,000	$0

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990-PF

Filed on May 22, 2023

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

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PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$1,541,553

Expenses

$1,007,460

Net Income

$534,093

Net Assets

$14,426,298

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$179	0.0%
Dividends	$231,984	15.0%
Sales of Assets	$361,646	23.5%
Other Income	$940,744	61.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$726,127	72.1%
Compensation of Officers*	$260,000	25.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,426,298
Total Liabilities	$0
Net Assets	$14,426,298

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$52,000	$0
Richard Ballenger (Trustee)	$52,000	$0
Jimmy D Payne (Trustee)	$52,000	$0
David Bush (Trustee)	$52,000	$0
Vermoyn D Reeder (Trustee)	$52,000	$0

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990-PF

Filed on June 7, 2022

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

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Fiscal Year Ending Dec.
2020

Revenue

$1,278,838

Expenses

$919,744

Net Income

$359,094

Net Assets

$13,904,944

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$454	0.0%
Dividends	$214,706	16.8%
Sales of Assets	$230,272	18.0%
Other Income	$826,406	64.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$617,720	67.2%
Compensation of Officers*	$272,000	29.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,904,945
Total Liabilities	$1
Net Assets	$13,904,944

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$52,000	$0
Richard Ballenger (Trustee)	$52,000	$0
Jimmy D Payne (Trustee)	$52,000	$0
David Bush (Trustee)	$52,000	$0
Vermoyn D Reeder (Trustee)	$52,000	$0
John W Conway (Trustee)	$12,000	$0

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990-PF

Filed on June 17, 2021

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

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XML

Fiscal Year Ending Dec.
2019

Revenue

$948,280

Expenses

$1,037,668

Net Income

-$89,388

Net Assets

$13,552,705

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$383	0.0%
Dividends	$227,989	24.0%
Sales of Assets	$45,156	4.8%
Other Income	$665,205	70.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$704,664	67.9%
Compensation of Officers*	$312,000	30.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,552,706
Total Liabilities	$1
Net Assets	$13,552,705

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$52,000	$0
Richard Ballenger (Trustee)	$52,000	$0
John W Conway (Trustee)	$52,000	$0
Jimmy D Payne (Trustee)	$52,000	$0
David Bush (Trustee)	$52,000	$0
Vermoyn D Reeder (Trustee)	$52,000	$0

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990-PF

Filed on June 11, 2020

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

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Fiscal Year Ending Dec.
2018

Revenue

$738,217

Expenses

$1,080,529

Net Income

-$342,312

Net Assets

$13,645,872

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$312	0.0%
Dividends	$298,874	40.5%
Sales of Assets	$164,059	22.2%
Other Income	$265,472	36.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$723,414	66.9%
Compensation of Officers*	$316,500	29.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,645,872
Total Liabilities	$0
Net Assets	$13,645,872

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$53,500	$0
Richard Ballenger (Trustee)	$53,500	$0
David Bush (Trustee)	$53,500	$0
John W Conway (Trustee)	$52,000	$0
Jimmy D Payne (Trustee)	$52,000	$0
Vermoyn D Reeder (Trustee)	$52,000	$0

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990-PF

Filed on May 21, 2019

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

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Fiscal Year Ending Dec.
2017

Revenue

$996,635

Expenses

$1,071,444

Net Income

-$74,809

Net Assets

$13,995,727

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$457	0.0%
Dividends	$321,173	32.2%
Sales of Assets	-$18,209
Other Income	$686,214	68.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$752,141	70.2%
Compensation of Officers*	$234,000	21.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,995,727
Total Liabilities	$0
Net Assets	$13,995,727

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$39,000	$0
Richard Ballenger (Trustee)	$39,000	$0
John W Conway (Trustee)	$39,000	$0
Jimmy D Payne (Trustee)	$39,000	$0
David Bush (Trustee)	$39,000	$0
Vermoyn D Reeder (Trustee)	$39,000	$0

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990-PF

Filed on May 15, 2018

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

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Fiscal Year Ending Dec.
2016

Revenue

$714,132

Expenses

$1,109,420

Net Income

-$395,288

Net Assets

$14,070,536

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$284	0.0%
Dividends	$319,503	44.7%
Sales of Assets	-$8,510
Other Income	$395,855	55.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$728,463	65.7%
Compensation of Officers*	$234,000	21.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,070,536
Total Liabilities	$0
Net Assets	$14,070,536

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$39,000	$0
Richard Ballenger (Trustee)	$39,000	$0
John W Conway (Trustee)	$39,000	$0
Jimmy D Payne (Trustee)	$39,000	$0
David Bush (Trustee)	$39,000	$0
Vermoyn D Reeder (Trustee)	$39,000	$0

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990-PF

Filed on May 15, 2017

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

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Fiscal Year Ending Dec.
2015

Revenue

$846,768

Expenses

$1,137,974

Net Income

-$291,206

Net Assets

$14,511,066

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$332	0.0%
Dividends	$344,315	40.7%
Sales of Assets	$81,101	9.6%
Other Income	$414,020	48.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$727,335	63.9%
Compensation of Officers*	$234,000	20.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,511,066
Total Liabilities	$0
Net Assets	$14,511,066

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$39,000	$0
Richard Ballenger (Trustee)	$39,000	$0
John W Conway (Trustee)	$39,000	$0
Jimmy D Payne (Trustee)	$39,000	$0
David Bush (Trustee)	$39,000	$0
Vermoyn D Reeder (Trustee)	$39,000	$0

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990-PF

Filed on May 18, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$1,283,513

Expenses

$1,142,360

Net Income

$141,153

Net Assets

$14,816,928

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$533	0.0%
Dividends	$399,255	31.1%
Sales of Assets	$86,421	6.7%
Other Income	$790,304	61.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$763,919	66.9%
Compensation of Officers*	$234,000	20.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,816,928
Total Liabilities	$0
Net Assets	$14,816,928

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$39,000	$0
Richard Ballenger (Trustee)	$39,000	$0
John W Conway (Trustee)	$39,000	$0
Jimmy D Payne (Trustee)	$39,000	$0
David Bush (Trustee)	$39,000	$0
Vermoyn D Reeder (Trustee)	$39,000	$0

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990-PF

Filed on May 19, 2015

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

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Fiscal Year Ending Dec.
2013

Revenue

$1,366,698

Expenses

$736,478

Net Income

$630,220

Net Assets

$14,692,575

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,574	0.1%
Dividends	$363,522	26.6%
Sales of Assets	$228,152	16.7%
Other Income	$772,408	56.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$361,750	49.1%
Compensation of Officers*	$234,000	31.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,692,575
Total Liabilities	$0
Net Assets	$14,692,575

Compensation

Key Employees and Officers	Compensation	Other
Robert M Underwood (Trustee)	$39,000	$0
Richard Ballenger (Trustee)	$39,000	$0
John W Conway (Trustee)	$39,000	$0
Jimmy D Payne (Trustee)	$39,000	$0
David Bush (Trustee)	$39,000	$0
Vermoyn D Reeder (Trustee)	$39,000	$0

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990-PF

Filed on July 9, 2014

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

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Fiscal Year Ending Dec.
2012

Revenue

$1,434,418

Expenses

$711,243

Net Income

$723,175

Net Assets

$14,065,682

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$259,637	18.1%
Interest Revenue	$3,978	0.3%
Dividends	$372,262	26.0%
Sales of Assets	$0
Other Income	$810,112	56.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$356,545	50.1%
Compensation of Officers*	$195,000	27.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$14,065,682
Total Liabilities	$0
Net Assets	$14,065,682

990-PF

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$1,701,407

Expenses

$548,009

Net Income

$1,153,398

Net Assets

$13,362,706

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$860,377	50.6%
Interest Revenue	$11,232	0.7%
Dividends	$328,791	19.3%
Sales of Assets	$4,561	0.3%
Other Income	$491,946	28.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$335,000	61.1%
Compensation of Officers*	$108,000	19.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,362,707
Total Liabilities	$1
Net Assets	$13,362,706

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Updated January 26, 2026

Charles C Matthews Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.32M (2024)

Expenses $1.13M (2024)

Total Assets $13.7M (2024)

Total Liabilities $0 (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

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

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

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

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

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$1.32M (2024)

Expenses

$1.13M (2024)

Total Assets

$13.7M (2024)

Total Liabilities

$0 (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.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001