1st Umc Endowment
- Assets
- $4.5m
- Revenue
- $133.4k
- Investments
- $4.4m
- Employees
- 0
- Location
- San Angelo, TX
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 47-2390352
Organization Overview
1st Umc Endowment is located in San Angelo, TX. The organization was established in 2016. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1st Umc Endowment is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, 1st Umc Endowment generated $133.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (38.9%) each year. All expenses for the organization totaled $145.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE FIRST UNITED METHODIST CHURCH OF SAN ANGELO AND ITS SUPPORTED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE FIRST UNITED METHODIST CHURCH OF SAN ANGELO AND ITS SUPPORTED PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Elkins President/chairman | OfficerTrustee | 3 | $0 |
Kevin Porshe Director | Trustee | 3 | $0 |
Laura Harkey Director | Trustee | 3 | $0 |
Clay Engdahl Director | Trustee | 3 | $0 |
Will Slaughter Director | Trustee | 3 | $0 |
Keith Mortimore Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,070 |
| Noncash contributions included in lines 1a–1f | $32,069 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,070 |
| Total Program Service Revenue | $0 |
| Investment income | $77,756 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $133,383 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $136,821 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $145,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,592 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,385,187 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,530,779 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,063,856 |
| Net assets with donor restrictions | $1,466,923 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,530,779 |
Endowment Analysis
| Beg. Balance | $4,050,402 |
| Earnings | $567,353 |
| Net Contributions | $58,070 |
| Other Expense | $145,046 |
| Ending Balance | $4,530,779 |
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|---|---|---|
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Catholic Foundation Of Oklahoma Inc Oklahoma City, OK | $82,819,268 | $6,647,191 |
Park Cities Presbyterian Church Foundation Dallas, TX | $2,207,492 | $1,215,742 |
Your Harvest House Burleson, TX | $1,051,962 | $1,972,586 |
Bethlehem Bible Co Inc New Braunfels, TX | $672,488 | $1,302,204 |
Sja Foundation Baton Rouge, LA | $11,583,947 | $2,001,512 |
St Pauls Methodist Foundation Of Houston Houston, TX | $29,200,178 | $3,302,666 |
Sacred Arts Foundation Cedar Crest, NM | $282,030 | $988,067 |
Endowment Foundation First United Presbyterian Church Albuquerque Albuquerque, NM | $14,946,986 | -$140,979 |