Permanent Endowment Fund Of The Moody Memorial First United Method
- Assets
- $104.2m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Galveston, TX
- Founding
- 08/2001
- Data as of
- 12/2022
- EIN
- 76-0680471
Organization Overview
Permanent Endowment Fund Of The Moody Memorial First United Method is located in Galveston, TX. The organization was established in 2001. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Permanent Endowment Fund Of The Moody Memorial First United Method employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permanent Endowment Fund Of The Moody Memorial First United Method 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 12/2022, Permanent Endowment Fund Of The Moody Memorial First United Method generated $12.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $9.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Permanent Endowment Fund Of The Moody Memorial First United Method has awarded 240 individual grants totaling $23,072,431. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCING THE CARE OF PEOPLE IN THE NAME AND SPIRIT OF JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST METHODIST CHURCH (PEF) AIDS IN THE RELIGIOUS, CHARITABLE, EDUCATIONAL, AND MISSIONAL PURPOSES OF THE MOODY METHODIST CHURCH AND THE UNITED METHODIST CHURCH.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimblyn N Raschke Chair | OfficerTrustee | 5 | $0 |
Jay Sims Secretary | OfficerTrustee | 5 | $0 |
Roland Louis Bassett Director | Trustee | 5 | $0 |
Gail Ayers Cantini Director | Trustee | 5 | $0 |
Carolyn Cox Director | Trustee | 5 | $0 |
Matthew Hay Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bracewell Llp Attorney | 12/30/22 | $106,631 |
Randy Thompsonjw Cole Investment Management | 12/30/22 | $113,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,234,285 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,234,285 |
| Total Program Service Revenue | $0 |
| Investment income | $2,493,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,835,082 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,563,184 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,905,210 |
| 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. | $321,763 |
| Compensation of current officers, directors, key employees. | $96,529 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,836 |
| Pension plan accruals and contributions | $12,148 |
| Other employee benefits | $64,508 |
| Payroll taxes | $17,304 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $145,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,200 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $129,436 |
| Information technology | $18,885 |
| 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 | $50,327 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,489 |
| All other expenses | $5,070 |
| Total functional expenses | $9,842,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,207 |
| Savings and temporary cash investments | $6,985,412 |
| Pledges and grants receivable | $4,524,567 |
| 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 | $87,505,326 |
| Investments—other securities | $0 |
| Investments—program-related | $5,098,316 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $104,208,828 |
| Accounts payable and accrued expenses | $5,775 |
| Grants payable | $554,697 |
| 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 | $560,472 |
| Net assets without donor restrictions | $103,648,356 |
| Net assets with donor restrictions | $0 |
| 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 | $104,208,828 |
Grants Awarded
Over the last fiscal year, Permanent Endowment Fund Of The Moody Memorial First United Method has awarded $8,905,210 in support to 94 organizations.
| Grant Recipient | Amount |
|---|---|
MEADOWS MENTAL HEALTH POLICY INSTITUTE PURPOSE: Self-Reliance & Resiliency Services | $87,500 |
VISION GALVESTON PURPOSE: Essential Needs | $25,000 |
ADA WOMEN'S CENTER PURPOSE: Crisis Support Services | $60,000 |
ADVOCACY CENTER FOR CHILDREN OF GALVESTON COUNTY PURPOSE: Crisis Support Services | $25,000 |
AVDA PURPOSE: Crisis Support Services | $25,000 |
RESOLVE IT INC PURPOSE: Crisis Support Services | $22,500 |