About

Formation: The Foundation was created as a Texas nonprofit corporation on January 19, 2007.

Tax exemption: The Internal Revenue Service granted tax exemption status under Section 501(c)(3) of the Internal Revenue Code on August 22, 2007. Thus, contributions to the Foundation are deductible under Section 170 of the Code. The Foundation is designated as a “private foundation” under Section 509 of the Code.

IRS Employee Identification Number: The Foundation’s EIN is 20-8296500.

Governance: The Bylaws permit the board of directors of the Foundation to consist of as few as 3 persons or as many as 10 persons. Directors serve two-year terms. During their lifetimes, Sallie Martin Sharp and John J. “Mike” McKetta III appoint directors. Thereafter, the board of directors elects successor directors.

Protocol for selecting donees: In selecting beneficiary charities, the board hopes to further and encourage a family tradition of philanthropy by supporting small charities that improve their communities and reflect the charitable interests of our family, through both large and small donations. Each year, the board of directors solicits recommendations from grandchildren of Pinky and John McKetta, the grandchildren’s spouses, and great-grandchildren who have reached 11 years of age. In addition, the board selects other donees, typically emphasizing (i) charities with whom Pinky or John McKetta had a special relationship during their lifetimes and (ii) charities for whom the Foundation’s gift may have a significant impact.

Contact: Communications to the Foundation may be directed to its Secretary, Mike McKetta, at (jjmckett@gmail.com or Mike@mcketta.com)