# Perkins-Prothro Foundation

Perkins-Prothro Foundation is an Endowment / Foundation based in Wichita Falls, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Wichita Falls, United States
- **Region:** North America
- **Address:** 2304 Midwestern Pkwy Ste 200, Wichita Falls, TX 76308, United States
- **Founded:** 1967
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The Perkins-Prothro Foundation was established in 1967 as a 501(c)(3) vehicle for the philanthropy of Joe J. and Lois Perkins and their daughter Elizabeth Perkins Prothro and her husband Charles Prothro. The wealth originates from oil and gas production and cattle ranching in Texas, consolidating into a foundation that has since directed its grantmaking primarily toward education, the arts, health, human services, and United Methodist churches. The foundation’s deployment concentrates on endowed institutional support rather than programmatic or venture-style grants. Its most visible commitments are the Perkins School of Theology at Southern Methodist University — named for the family — and the Prothro Center for Lifelong Learning at Southwestern University. Beyond higher education, the foundation maintains a local Wichita Falls footprint through mineral investments (both producing and non-producing), a commercial office property, and the Perkins-Prothro House residence. In Austin, the Prothro Endowment in Photography at the Harry Ransom Center reflects a collecting and cultural heritage priority distinct from other Texas family foundations of similar vintage. Governance rests with the third generation: Kathryn P. Yeager, daughter of Charles and Elizabeth Prothro, serves as President and previously served as Mayor of Wichita Falls. Her brother Mark H. Prothro serves as Vice President and Treasurer, with local business ties and leadership roles in the Sons of the American Revolution. A third sibling, Joe N. Prothro, has been a long-time trustee-level supporter of Southwestern University. The foundation operates without a separate investment staff or external office footprint, consistent with a lean family-governed philanthropic structure. The foundation’s structural differentiator is its concentration risk — both geographic and institutional. Rather than diversify grantmaking across dozens of causes, the Perkins-Prothro Foundation anchors on a small number of Texas and Methodist-affiliated institutions with multi-generational board continuity. This deep-but-narrow approach produces outsized naming rights and influence at partner institutions relative to the foundation’s asset size, a tradeoff most modern foundations avoid in favor of broader, staff-driven programs.

## Sectors

- Education
- Healthcare Services
- Real Estate
- Energy Transition & Renewables

## People

- Kathryn P. Yeager — President
- Mark H. Prothro — Vice President / Treasurer

## Questions

### Who runs investment decisions at the Perkins-Prothro Foundation?

The foundation does not maintain a dedicated investment staff. Governance and asset oversight rest with the family board, led by President Kathryn P. Yeager and Vice President/Treasurer Mark H. Prothro. The foundation's mineral interests and small office property suggest a largely self-administered portfolio of legacy assets rather than an actively managed institutional pool.

### What is the foundation's relationship to Southern Methodist University?

The Perkins family is a named benefactor of SMU's Perkins School of Theology, one of the university's oldest and most prominent graduate divisions. This relationship represents the foundation's largest and most enduring institutional commitment. Additional family members, including Joe N. Prothro, have been long-time supporters of Southwestern University, where the Prothro Center for Lifelong Learning bears the family name.

### Does the foundation maintain any operating businesses or real estate assets?

Yes. The foundation holds both producing and non-producing mineral investments in Texas, a commercial office property on Midwestern Parkway in Wichita Falls, and the Perkins-Prothro House residence on Harrison Street. These assets appear to generate income for the foundation alongside any retained financial portfolio, though no public disclosure details the investment mix.

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Last updated: 2026-08-11T02:43:31.692Z

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