Permian Basin Area Foundation 35th Anniversary Publication
REFLECTIONS ON 35 YEARS
Opening
For 35 years, Permian Basin Area Foundation has been built by the generosity of donors, the dedication of partners, and the vision of those who believe in the power of charitable giving. Every gift, every grant, and every act of kindness has laid the groundwork for a stronger, more lively community foundation. We are simply the caretakers of what so many have built. As we celebrate this milestone, we do so with deep gratitude and a commitment to carrying the impact forward for generations to come.
MESSAGE FROM THE PRESIDENT
& CEO
Dear Friends,
We appreciate the opportunity to share with you this report, which celebrates the 35-year history of Permian Basin Area Foundation.
The Foundation has its origins in the 1980s, when a gift to United Way of Midland established the Midland Community Trust…
OUR MISSION AND VISION
Since 1989, Permian Basin Area Foundation’s mission has been simple. We partner with donors to create charitable funds, enabling a lasting impact on the quality of life in West Texas. As we embark beyond our 35th year, our vision remains steadfast: connecting people who care with causes that matter.
CORE VALUES
Over the past 35 years, members of our Board of Governors and our staff have changed, but our core values have remained true – and will continue into the future:
INTEGRITY
We consistently choose to do what is right for those we serve.
resilience
We overcome challenges with creativity.
responsiveness
We listen attentively and offer support with intentionality and thoughtfulness.
tenacity
We are committed to completing tasks thoroughly and effectively.
HUMILITY
We serve and partner with our communities with curiosity and respect.
“The Foundation provides a great service for donors as well as our West Texas Communities.”
–Carolyn Stone, Stanton
Service Area
While we identify our service area on the map above, the Foundation can make grants to anywhere in the United States, and in some cases internationally. Donors often request a grant to the community where they may have a second home or personal interests in communities of other family members, and we are pleased to honor these requests.
Historical Perspective
For 35 years, the Permian Basin Area Foundation has connected people who care with causes that matter, transforming lives and communities across more than 20 counties in West Texas. From its beginnings in the 1980s as the Midland Community Trust to its incorporation in 1989, the Foundation has grown brick by brick through the generosity of donors, the vision of community leaders, and the steadfast commitment to integrity, resilience, and service.
Our HISTORY
“It is always a pleasure for me to refer a client to the Foundation. They are prompt to respond and resourceful in their dedication to service.”
–Steve Barron, Odessa
Financial History
The donors to Permian Basin Area Foundation have built a legacy of generosity and community giving that inspires and challenges future generations of West Texans. During our 35th anniversary, the Foundation remains resolute in sustaining a culture of philanthropy. As evidenced by the graphs that follow, ongoing contributions by generous donors, strong investment performance, and prudent stewardship have well positioned the Foundation for sustained growth. We invite you to join your West Texas neighbors in continuing the momentum.
Assets ($Millions)
Financial History
Grants, Scholarships, and Distributions ($Millions)
“I have worked with families who have unique charitable goals- they see PBAF as a reliable partner.”
–Tracy Elms, Midland
Types of charitable funds
Agency Funds
Nonprofits create permanent endowments for their own benefit and can take advantage of the Foundation’s capabilities to accept complex gifts. The Foundation also handles administrative and investment responsibilities, freeing nonprofits to focus on their mission of serving the community.
COMMUNITY FUNDS
Friends, neighbors, and stakeholders join together to create a community fund supporting a specific community and their needs. Typically, these funds have local representatives who make grant recommendations for community organizations.
DESIGNATED FUNDS
Designated funds are established by donors to benefit specific nonprofit organizations.
DONOR ADVISED FUNDS
Donor-advised funds provide donors with the privilege of recommending grants from the fund they established. Charitable deductions are made at the time of the gift to the Foundation, while grant recommendations can be made throughout a donor’s lifetime. Grants can be made anonymously.
FIELD OF INTEREST FUNDS
Field-of-interest funds support areas of interest to the donor, such as the arts, education, health, or a particular community. Recipients are determined by the Foundation’s Grants Committee or an advisory committee in accordance with donor wishes.
SCHOLARSHIP FUNDS
Scholarship funds provide students with opportunities to further their education or training. Donors may identify criteria for awards, including considerations of need, area of study, academic performance, and extracurricular activities.
UNRESTRICTED FUNDS
Unrestricted funds provide Permian Basin Area Foundation with the greatest flexibility in meeting changing needs in our region. Nonprofits that receive grants from these funds are determined by the Foundation’s Grants Committee and Board of Governors.
TYPES OF GIFTS
BEQUEST BY WILL
Gifts to the Foundation can be named in your will by designating a gift or conveying other assets from your estate. In some cases, a donor may receive a reduction in estate taxes.
CHARITABLE TRUST
A variety of trusts can be established to benefit the donor, immediate family, and charitable wishes. A Charitable Remainder Trust provides income for the donor or a loved one, while the remaining assets benefit a charitable organization. Alternatively, a Charitable Lead Trust will provide fixed payments to charitable organizations for a set number of years, with the remaining assets returned to the donor’s family.
LIFE INSURANCE
Designate the Foundation as the full or partial beneficiary of a life insurance policy.
OUTRIGHT GIFT
Friends, neighbors, and stakeholders join together to create a community fund supporting a specific community and their needs. Typically, these funds have local representatives who make grant recommendations for community organizations.
OIL AND GAS ASSETS
The Foundation can receive royalty interests from oil and gas properties.
REAL ESTATE
Donors may transfer real property to establish or contribute to a fund to fulfill charitable interest while saving capital gains tax.
Personal Property
Convey collectibles, patents, copyrights, artwork, or other types of marketable assets into resources that benefit future generations.
RETIREMENT ACCOUNTS
Designate the Foundation as the beneficiary of your retirement account, 401(k), or IRA. It requires no need to modify your will or estate plan.
LEADERSHIP DEDICATED TO EXCELLENCE
Permian Basin Area Foundation’s financial growth and philanthropic impact testify to the dedication, professionalism, and expertise of its Board of Governors and staff.
The men and women on the Board of Governors are among the Permian Basin’s most distinguished civic and business leaders. Collectively, they offer extensive knowledge of the West Texas region and experience in institutional management, law, finance, and philanthropy. They provide strategic guidance and diligent stewardship of funds contributed to the Foundation.
In gratitude, we pay tribute to the service of past and present members of the Board of Governors and staff.
James M. Alsup*
John R. Anderson
Nancy Anguish*
Reggie Baker
Mara Barham Hobbs*
Steve Barron*
Joan Baskin
Spencer Beal
John Bergman
Grant Billingsley*
Suzy Boldrick
Wesley Bownds*
Stacey Brown
A.J. Brune III*
K. Michael Conaway*
Mike Canon*
Kathy Clark
June Cowden
Steve Davidson
Robert Dawson
Frank DeadErick
Norbert Dickman
Cathy Eastham
Larry Edgerton*
Bill Elms
Tracy Elms*
Sondra Eoff
Bethany Etheredge
Ron Fancher
Olivia Farias
James Flatt
Bill Fowler*
William P. Franklin
Trey Grafa
Alan Hale
Marie Hall
Jack Harper
Bryan Heflin
Cal Hendrick*
Harriet Herd
Patty Herd
Joanie Holt
Hiram Hubert
Scott Kidwell
Grace King
LaDoyce Lambert
John Landgraf
G. Larry Lawrence
Elizabeth Locker*
Sandy Louder
Bobby McKnight
Dick McMillian
Todd Meade*
J.E. Mendez, MD
Jerry Morales
Mark Nicholas*
Gregg Owens
Jess Parrish
Lorraine Perryman
G.E. “Pete” Peterson
Beverly Pevehouse
Joe Pevehouse
Ann Quaid
Rodney Robinson
Madison Rose
Scott Ryburn
Ciro Sanchez
Clarence Scharbauer III*
Jess Sellars
Andrew Semer
Tulsi Singh, MD*
Jimmy Stallings
Ray Stoker, Jr.*
Deane Stoltz*
Carolyn Stone
Betsy Triplett-Hurt*
Georgia Trobaugh
Melba Trobaugh
Johnny Warren
Sande Wier
Don Wood
Jack Wood
* past chairman
BOARD & STAFF
2025 BOARD OF GOVERNORS
Wesley Bownds
Chairman
Alan Hale
Vice-Chair
Bryan Heflin
Secretary & Treasurer
Reggie Baker
Steve Barron
Bethany Etheredge
Blane Heflin
Mara Barham Hobbs
G.E. “Pete” Peterson
Lindsay Ridgeway
Madison Rose
Andrew Semer
FOUNDATION STAFF
GUY MCCRARY
President & Chief Executive Officer
JENNIFER STEADMAN, MS
Chief Operating Officer
Cyndi Vara, CPA
Chief Financial Officer
CARI WHITAKER
Finance & Accounting Administrator
Gabriella Baltazar, CPA, MPA
Senior Accountant
Lorena Esparza, SHRM-CP
Community Relations Associate
Lyndzie Tarango, MPSA
Education Programs Administrator
Raymond Williams, MPA
Grants Officer
Isabella Zenteno
Office Manager