Endowment Foundation First United Presbyterian Church Albuquerque
- Assets
- $14.9m
- Revenue
- -$141.0k
- Investments
- $937.0k
- Employees
- 1
- Location
- Albuquerque, NM
- Founding
- 05/1977
- Data as of
- 12/2021
- EIN
- 85-0249432
Organization Overview
Endowment Foundation First United Presbyterian Church Albuquerque is located in Albuquerque, NM. The organization was established in 1977. 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. Endowment Foundation First United Presbyterian Church Albuquerque is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2016, Endowment Foundation First United Presbyterian Church Albuquerque has awarded 13 individual grants totaling $3,957,747. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ENDOWMENT FOUNDATION OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE EXISTS TO SUPPORT THE CURRENT AND LONG-TERM NEEDS OF FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE AND ITS MISSION. THE FOUNDATION ACCEPTS, MANAGES AND DISBURSES FUNDS FROM ENTITIES OR PERSONS AFFILIATED WITH FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, THE CHARACTER OF WHICH MAY BE RESTRICTED BY THEIR ENTITY OR DONOR, SO LONG AS IT IS CONSISTENT WITH THE MISSION OF THE CHURCH.THE FUNDS ARE MANAGED IN PERPETUITY.
Describe the Organization's Program Activity:
GRANTS AND OTHER SUPPORT ARE MADE TO FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, NEW MEXICO, INC. TO PROVIDE FUNDING TO FURTHER THE MISSION OF THE CHURCH AND PROGRAMS WITHIN THE CHURCH.
GRANTS PROVIDED TO EDUCATIONAL PROGRAMS TO STUDENTS SELECTED BY THE SCHOLARSHIP COMMITTEE OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, NEW MEXICO, INC. SCHOLARSHIPS ARE BASED ON NEED AND ACADEMIC RECORD.
TO PROVIDE SUPPORTING OPERATIONS AND TUITION ASSISTANCE TO STUDENTS WHO ATTEND MENAUL SCHOOL. THE RECIPIENTS WHO RECEIVE AID ARE DETERMINED BY THE MENAUL SCHOOL FINANCIAL AID DEPARTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Bowersock Executive Director | Officer | 30 | $38,775 |
Rob Rechard Vice Chairman | OfficerTrustee | 2 | $0 |
Jesse May Chairman | OfficerTrustee | 2 | $0 |
Anna Medendorp Secretary | OfficerTrustee | 2 | $0 |
Will Burnett Trustee | Trustee | 1 | $0 |
John Farris Trustee | Trustee | 1 | $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 | $15,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,000 |
| Total Program Service Revenue | $0 |
| Investment income | $328,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$484,353 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$140,979 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $741,459 |
| Grants and other assistance to domestic individuals. | $24,824 |
| 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 | $38,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,678 |
| 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 | $2,487 |
| 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 | $4,773 |
| All other expenses | $0 |
| Total functional expenses | $860,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,286 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,183 |
| 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 | $27,637 |
| Investments—publicly traded securities | $13,863,889 |
| Investments—other securities | $936,991 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,946,986 |
| Accounts payable and accrued expenses | $1,045 |
| 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 | $290,642 |
| Total liabilities | $291,687 |
| Net assets without donor restrictions | $9,222,137 |
| Net assets with donor restrictions | $5,433,162 |
| 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 | $14,946,986 |
Grants Awarded
Over the last fiscal year, Endowment Foundation First United Presbyterian Church Albuquerque has awarded $489,459 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Albuquerque, NM PURPOSE: SUPPORT OPERATIONS | $471,459 |
UNIV OF NEW MEXICO PURPOSE: SCHOLARSHIPS FOR MEMBERS OF THE FIRST PRESBYTERIAN CHURCH | $18,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Endowment Foundation First United Presbyterian Church Albuquerque has recieved totaling $23,940.
| Awarding Organization | Amount |
|---|---|
Albuquerque Community Foundation Albuquerque, NM PURPOSE: YOUNGBERG MEMORIAL FUND | $23,940 |
Endowment Analysis
| Beg. Balance | $14,140,401 |
| Earnings | $1,357,674 |
| Net Contributions | $15,000 |
| Grants | $766,283 |
| Ending Balance | $14,746,792 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John G & Marie Stella Kenedy Memorial Foundation Corpus Christi, TX | $364,888,417 | $75,089,891 |
Gods Healthy Place Inc Fort Worth, TX | $0 | $0 |
New Life Holding Corporation Woodland Park, CO | $112,165,344 | $1,723,190 |
Stewardship Endowment Fund Scottsdale, AZ | $47,139,512 | $6,876,380 |
First Methodist Church Of Fort Worth Foundation Inc Fort Worth, TX | $97,113,260 | $7,597,400 |
Legacy For The Kingdom Phoenix, AZ | $44,613,062 | $3,223,185 |
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 |
Colorado Springs Utilities Foundation Colo Springs, CO | $2,751,625 | $1,147,424 |
St Pauls Methodist Foundation Of Houston Houston, TX | $29,200,178 | $3,302,666 |