Wortham Foundation
- Assets
- $242.4m
- Revenue
- $10.1m
- Investments
- $231.2m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 03/1961
- Data as of
- 09/2023
- EIN
- 74-1334356
Organization Overview
Wortham Foundation is located in Houston, TX. The organization was established in 1961. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wortham Foundation 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 09/2023, Wortham Foundation generated $10.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $13.1m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHMENT 18A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred C Burns Secretary Treasurer | 0 | $49,500 | |
Brady F Carruth President, Asst Treasurer | 0 | $49,500 | |
R W Wortham III Chairman, Asst Treasurer | 0 | $49,500 | |
Thomas E Smith Trustee Asst Treasurer | 0 | $49,500 | |
Brady Carruth Jr Trustee Asst Treasurer | 0 | $49,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hirtle & Callaghan | 9/29/23 | $279,364 |
Bank Of New York Mellon | 9/29/23 | $73,090 |
Avalon Advisors | 9/29/23 | $291,659 |
J P Morgan Chase Bank Na | 9/29/23 | $201,926 |
Vaughan Nelson Scarbrough Et Al | 9/29/23 | $0 |
Hirtle Callaghan | 9/29/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,560,813 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,655,787 |
| Capital Gain Net Income | $3,655,787 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,922,059 |
| Total Revenue | $10,138,659 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $247,500 |
| Other employee salaries and wages | $327,325 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $217,421 |
| Depreciation | $1,720 |
| Occupancy | $132,437 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $124,322 |
| Total operating and administrative expenses | $2,175,006 |
| Contributions, gifts, grants paid | $10,960,000 |
| Total expenses and disbursements | $13,135,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,784,877 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $117,659 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $277,265 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $8,920 |
| Other assets | $0 |
| Total assets | $242,390,216 |
| Accounts payable and accrued expenses | $265,685 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $265,685 |