Annual Report - 2006
Charitable Funds - Field of Interest Funds

Field of Interest Funds support areas of particular interest to the donor such as the arts, education, or the elderly. The recipients of grants from these funds are determined by the Foundation’s Grants Committee or an advisory committee in accordance with the donor’s wishes.

Andrews Community Endowment Fund
Established by the City of Andrews, this fund will be used to provide scholarships to Andrews residents who attend the Andrews Business & Technology Center and to meet other public opportunity needs that will benefit the residents of Andrews.

Connell Family Fund
An estate gift from John D. Connell established this fund which is allocated for charitable needs in Martin County at the recommendation of the Martin County Community Fund Advisory Committee.

Jaycees Centennial Fund
The Midland Jaycees created this fund to ensure continual maintenance and improvement of Centennial Plaza in downtown Midland as well as the ongoing development and enhancement of Midland parks and other leisure facilities.

Coke County Foundation Fund
This endowment supports community projects for the benefit of the people of Coke County. It was established with resources designated by the Scarborough-Linebery Foundation.

C. Craig Johnson Memorial Fund
The purpose of this fund created by family and friends of C. Craig Johnson is to develop and support junior golf for the youth of Midland.

Shelley Eudaly Crawford
Memorial Fund – In memory of Shelley Crawford, a gifted musician and teacher, this fund supports scholarships for training young people in piano and other youth-centered programs to advance the development of music talent at early ages.

Martin County Community Fund
This fund was created by and for Martin County residents to address general charitable needs for the people of Martin County.

Midland Housing Trust Fund
Grants made from this fund address the need for safe, clean and affordable housing for residents of Midland County. Wilkinson Fund for the Elderly – Mrs. Terry Wilkinson created this fund to support programs benefiting the elderly.

Ward County Community Endowment Fund
This fund was created by and for Ward County residents to address charitable needs for the people of Ward County, and to support education of Ward County residents.

Hillcrest School serves students with learning differences such as Attention Deficit Disorder and dyslexia, and has been setting students up for success in the Permian Basin since 1993. In the following year, Hillcrest established an endowment with the Foundation to support the school’s operations. During 2006, Hillcrest received a very generous addition to its endowment by a donor utilizing a new law allowing for favorable tax treatment of an “IRA Charitable Rollover”. As of this printing, the IRA Charitable Rollover opportunity lapses at the end of 2007. The Foundation is pleased to assist donors who may wish to explore charitable giving through the use of an IRA.

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.