Turning Point Endowment Inc is located in Phoenix, AZ. The organization was established in 2018. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turning Point Endowment Inc 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 06/2021, Turning Point Endowment Inc generated $19.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 60.6% each year . All expenses for the organization totaled $276.8k during the year ending 06/2021. 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
TURNING POINT ENDOWMENT IS A SUPPORTING ORGANIZATION TO TURNING POINT USA. THE ORGANIZATION'S MISSION IS TO SUPPORT AND BENEFIT TURNING POINT USA'S CHARITABLE PURPOSES AND LONG-TERM VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TURNING POINT ENDOWMENT IS A SUPPORTING ORGANIZATION TO TURNING POINT USA ("TP USA"), WHICH IS A 501C3 ENTITY WITH A MISSION TO EDUCATE STUDENTS ABOUT THE IMPORTANCE OF FISCAL RESPONSIBILITY, FREE MARKETS, AND CAPITALISM. THE ORGANIZATION SUPPORTS TP USA THROUGH CONTRIBUTIONS AND BY MAINTAINING INVESTMENTS TO SUPPORT TPUSA'S LONG-TERM VITALITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Charles Kirk President | OfficerTrustee | 1 | $0 |
Peter Theron Director | Trustee | 1 | $0 |
Jim Holden Secretary/treasurer | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $18,825,000 |
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 | $18,825,000 |
Total Program Service Revenue | $0 |
Investment income | $556,821 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $109,324 |
Net Gain/Loss on Asset Sales | $2,504 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $19,493,649 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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 | $11,972 |
Fees for services: Accounting | $22,519 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $99,416 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $369 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $47,467 |
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 | $91,547 |
Insurance | $3,318 |
All other expenses | $211 |
Total functional expenses | $276,819 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $48,125 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $3,600 |
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 | $5,452,624 |
Investments—publicly traded securities | $34,462,006 |
Investments—other securities | $8,090,016 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $76,917 |
Total assets | $48,133,288 |
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 | $48,133,288 |
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 | $48,133,288 |
Over the last fiscal year, we have identified 1 grants that Turning Point Endowment Inc has recieved totaling $18,825,000.
Awarding Organization | Amount |
---|---|
Turning Point Usa Inc Phoenix, AZ PURPOSE: AWARENESS OF FREE MARKETS | $18,825,000 |
Beg. Balance | $20,127,640 |
Earnings | $5,959,278 |
Admin Expense | $99,416 |
Net Contributions | $18,934,324 |
Other Expense | $2,241,162 |
Ending Balance | $42,680,664 |
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