Gross Receipts: $12, 346,977
Total assets: $157,507, 011
Total liabilities: $37,630
Net assets: $157,469,381
Year founded: 1969
Number of people on board: 22
Of all foundations associated with the University, the Lyndon Baines Johnson Foundation has assets worth more than any other. At the end of the 2011 fiscal year, the foundation’s net assets totaled $157,469,381, according to IRS documents.
“We’ve been in existence for a while so we’ve really been able to earn a lot of money on funds that were there in the beginning,” said Mary Herman, executive director of the foundation. “We’ve added to that over time, but it’s certainly built on that.”
The foundation was set up in 1969 by former President Lyndon Baines Johnson and supporters to create a fund that would support the library and school that were being built in his honor at the time, Herman said. The foundation still operates in that capacity and is steered by board members that include Johnson’s daughters, friends of Johnson and prominent political leaders.
The LBJ Foundation was the driving factor in raising more than $10 million for the recently completed renovations to the LBJ Museum. Their next major projects include events in Austin and Washington, D.C., next year that will commemorate the 50th anniversary of civil rights legislation signed into law by LBJ.