The Cullen Foundation
- Assets
- $278.0m
- Revenue
- $19.6m
- Investments
- $276.2m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 09/2000
- Data as of
- 12/2020
- EIN
- 76-0647361
Organization Overview
The Cullen Foundation is located in Houston, TX. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cullen 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 12/2020, Cullen Foundation generated $19.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $18.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Cullen Foundation has awarded 48 individual grants totaling $31,610,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott W Wise President/treasurer | 40 | $477,198 | |
Laura Chapman Vice President | 40 | $261,002 | |
Peggy Reid Controller | 40 | $202,000 | |
Gina Mcevily Grants Administrator | 33 | $73,845 | |
Wilhelmina E Robertson Chair/director | 10 | $0 | |
Meredith T Cullen Secretary/director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northern Trust Company | 12/30/21 | $227,038 |
Albourne America Llc | 12/30/21 | $120,000 |
Income Research Management Inc | 12/30/21 | $65,627 |
Silchester International Investors | 12/30/21 | $281,324 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $33,684 |
| Dividends & Interest | $1,085,055 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $15,547,750 |
| Capital Gain Net Income | $14,440,947 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,962,136 |
| Total Revenue | $19,628,625 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $681,353 |
| Other employee salaries and wages | $265,963 |
| Pension plans, employee benefits | $178,472 |
| Interest | $0 |
| Taxes | $784,462 |
| Depreciation | $19,889 |
| Occupancy | $73,016 |
| Travel, conferences, and meetings | $3,458 |
| Printing and publications | $0 |
| Other expenses | $246,131 |
| Total operating and administrative expenses | $3,982,577 |
| Contributions, gifts, grants paid | $14,145,000 |
| Total expenses and disbursements | $18,127,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,646 |
| Savings and temporary cash investments | $1,607,617 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $239,412,154 |
| Net Land, buildings, and equipment | $126,871 |
| Other assets | $0 |
| Total assets | $278,005,765 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, The Cullen Foundation has awarded $31,610,000 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: CAPITAL CAMPAIGN - HEALTH SCIENCES TOWER | $12,000,000 |
Houston, TX PURPOSE: CAPITAL CAMPAIGN - HEALTH SCIENCES TOWER | $8,000,000 |
Houston, TX PURPOSE: LOCKWOOD SOUTH HOUSING DEVELOPMENT IN BUFFALO BAYOU EAST | $1,500,000 |
Houston, TX PURPOSE: CAPITAL CAMPAIGN - PLAY YOUR PARK | $1,000,000 |
Houston, TX PURPOSE: CAPITAL CAMPAIGN - CAMPAIGN FOR COURAGE | $750,000 |
Houston, TX PURPOSE: THE CULLEN FDN DISTINGUISHED ENDOWED CHAIR AT THE JAN & DAN DUNCAN NEUROLOGICAL RESEARCH INSTITUTE | $600,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burnett Foundation Fort Worth, TX | $195,880,351 | $2,811,908 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Rapier Family Foundation San Antonio, TX | $15,198 | $1,321,420 |
Dan L Duncan Family Foundation Houston, TX | $0 | $27,292,814 |
Fmh Foundation Midland, TX | $321,253,044 | $148,706,487 |
Inasmuch Foundation Oklahoma City, OK | $394,422,796 | $49,887,073 |
Ting Tsung And Wei Fong Chao Foundation Houston, TX | $26,401,006 | $21,447,473 |
William K Warren Foundation Tulsa, OK | $318,898,600 | $38,179,587 |
Impetus Foundation San Antonio, TX | $248,495,187 | $85,291,192 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |