Annual Report - 2005
Component Funds - Unrestricted Funds

Unrestricted Funds provide the Foundation’s Board with the greatest flexibility in meeting emerging and changing needs in the Permian Basin area. The recipients of grants from these funds are determined by the Foundation’s Grants Committee.

Permian Basin Endowment Fund
This is the general endowment to sustain the charitable operations and programs of nonprofit organizations.

Richard S. Anderson Memorial Fund
Mary N. Anderson established this fund in honor and memory of her husband, Richard S. “Dick” Anderson, a longtime Midland business and civic leader.

Edna May Corey Memorial Fund
A member of a West Texas Pioneer family, Edna May Corey created a testamentary charitable gift in her estate plan to support area needs.

Hy and Elizabeth Davidson Memorial Fund
Designated to address social, educational and charitable needs, this fund was created by Susan Davidson McClenahan and Steve Davidson in honor of their parents, Hy and Elizabeth Davidson, who participated in civic and charitable causes throughout their lives.

Margaret Farrell Memorial Fund*
This fund for general grantmaking was established with a bequest from the estate of retired Midland educator Margaret Farrell, who touched so many young lives through her work at Trinity School.

Joseph Wm. Foran Fund
A gift from Joseph Wm. Foran, Chairman of Matador Petroleum Corporation, enabled the creation of this fund honoring Rodney Robinson for his dedication to community service.

Harriet D. Herd Memorial Fund
Harriet Herd was a charter member of the Foundation’s Board of Governors and a tireless leader of countless community causes. Upon her death, her friends and family created this fund to promote charitable activities Mrs. Herd supported throughout her life.

Lacy Permanent Fund
This fund was established by Juandelle Lacy Roberts and the late James W. Lacy.

Tom and Evelyn Linebery Memorial Endowment
The assets from dissolution of the Scarborough-Linebery Foundation enabled the creation of this and other funds, thus ensuring the continuation of the Linebery’s charitable legacy.

M. Elizabeth Locker Memorial Fund
As a quiet patron of many Permian Basin area causes, M. Elizabeth Locker supported the Foundation by establishing this fund. Elizabeth once served as chairman of the Foundation’s Board of Governors.

Rachel Lyman Memorial Fund
An estate gift from Mrs. Rachel Lyman allowed the creation of this fund as an endowment for general charitable purposes.

Joe and Beverly Pevehouse Fund
Friends and family of Joe and Beverly Pevehouse established this fund to honor the charitable activities of this couple. Joe, who died in 1992, and Beverly served as members of the Board of Governors of the Foundation in addition to participating in many other philanthropic and volunteer activities in the community.

Pickett Family Charitable Fund
With the purpose of supporting charitable causes, this fund was created from memorial gifts made by family and friends upon the death of Perry Pickett, former Midland mayor and retired State District Judge.

Jack D. and Margery S. Riggs Fund
Resources from a planned estate gift of longtime Midlanders and community volunteers Jack and Margery Riggs facilitated the creation of this fund.

Clarence and Dorothy Scharbauer Fund
Clarence, Jr. and Dorothy Turner Scharbauer, who were raised in families deeply rooted in the Permian Basin, established this fund supporting general charitable purposes.

Nancy Hughston Sloan Memorial Fund
Upon the death of Nancy Hughston Sloan, an active community volunteer and professional investment advisor, her friends and family established this fund which is designated for general charitable purposes.

Deane H. and Janet Stoltz Fund
The chairman of the charter Board of Governors of the Foundation, Deane H. Stoltz and his wife, Janet, established this fund.

Wayne Shackelford Memorial Fund*
This fund was created by family and friends of Wayne Shackelford, who was recognized as a fine craftsman in construction and remodeling of homes in the area.

Allen K. Trobaugh Memorial Fund
This fund was created in memory of longtime Midland civic leader and philanthropist, Allen K. “Moose” Trobaugh.

Wood Family Fund
This Fund was established following the death of Lee Wood by his family and friends. Its purpose is to support general charitable purposes in the communities of the Permian Basin.

Long-time Midland educator Margaret Farrell touched hundreds of lives during her career at Trinity School, as first, an English teacher and later, as Director of Admissions. Long after having retired from the school, students would return to see her and bathe in her wonderful wit andwisdom. She was well known for her dry sense of humor, her earnest enthusiasm for proper use of the English language, her passion for the University of Texas Longhorns, and her deep love of family.

Margaret’s permanent legacy is carried out by a bequest from her estate which created the Margaret Farrell Memorial Fund, an unrestricted fund to be used by the Foundation’s Grants Committee for discretionary grantmaking. The bequest was made in honor of a friend with whom she had shared many good times.

*These funds have been established since the publication of the Foundation's last annual report

Permian Basin Area Foundation administers a number of other funds the donors to which have requested anonymity.

Funds of the Foundation are open to additional tax-deductible contributions. We also welcome the opportunity to visit with donors about creating new component funds for charitable purposes.