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J. F Maddox Foundation

Profile

Last Updated: 2016-06-07

At A Glance

J. F Maddox Foundation

P.O. Box 2588

Hobbs, NM United States 88241-2588

Telephone: (575) 393-6338

URL: www.jfmaddox.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Family foundation

Financial Data

(yr. ended 2014-12-31)

Assets: $290,083,996

Total giving: $5,163,717

EIN

756023767

BRIDGE Number

6457227194

Additional Contact Information

Physical address and address for Scholarship applications: 220 W. Broadway St., Ste. 200, Hobbs, NM 88240

Background

Established in 1963 in NM - Jack and Mabel Maddox established the J.F Maddox Foundation in 1963 to serve the citizens of southeastern New Mexico. A Board of Directors, primarily composed of family members, governs the foundation

Purpose and Activities

The mission of the J.F Maddox Foundation is to significantly improve the quality of life in southeastern New Mexico by investing in education, community development, and other social programs. The foundation particularly supports initiatives driven by innovative leadership, designed for substantial impact, and committed to lasting value.

Program Area(s)

The grantmaker has identified the following area(s) of interest:

Grants to Individuals Program

Scholarships only to high school students who are residents of Lea County, NM.

Jack Maddox Distinguished Scholarship Program

The scholarship program awards five scholarships to high school juniors in Lea County, New Mexico, each year. The five young scholars chosen will receive a scholarship for undergraduate study. One scholarship will cover the costs of undergraduate tuition, required texts, lab, other required fees, and room and board to the college or university of the scholar's choice in the continental United States. The remaining four scholarships will provide each Maddox Scholar with $20,000 ($5,000 per year for four years) for undergraduate study at the college or university of the scholar's choice in the continental United States. Applicants must be either natural-born or naturalized U.S. citizens. .

Program-Related Investment

The foundation has made a PRI in the form of a loan to a community capital fund to promote social welfare and alleviate poverty and to a local residential treatment facility for adolescents. Historically, the foundation has made PRIs in the form of loans to a university for the construction of a dorm, an arts commission for facility renovations, a youth organization, as well as for the purchase of land to be used for the construction of homes for low-income families, and equity investments in community development organizations. The foundation makes loans where, in its judgment, doing so is more appropriate than making grants. The foundation does not have a formal loan program, instead it utilizes loans as part of its overall grant strategy.

Fields of Interest

Subjects
  • Addiction services
  • Child welfare
  • Community beautification
  • Economic development
  • Education
  • Elementary and secondary education
  • Higher education
  • Human services
  • Performing arts
  • Senior services
  • Youth development
Population Groups
  • Academics
  • Children and youth
  • Economically disadvantaged people
  • Low-income and poor people
  • Seniors
  • Students

Financial Data

Year ended 2014-12-31

Assets: $290,083,996 (market value)

Expenditures: $11,634,970

Total giving: $5,163,717

Qualifying distributions: $13,292,121