Form 990 for tax year 2023
Filed by PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD.
Totals
- Total revenue
- $19,121,503
- Total expenses
- $11,625,776
- Contributions and grants received
- $14,755,088
- Grants paid
- $10,466,770
- Program service revenue
- $0
- Investment income
- $4,366,415
- Other revenue
- $0
- Total assets, end of year
- $123,555,922
- Total liabilities, end of year
- $1,694,747
- Net assets or fund balances, end of year
- $121,861,175
- Program services expenses (Part IX)
- $10,957,230
- Management and general expenses
- $668,546
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $10,957,230
Program services were 94.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$14,755,088
-
3 · Investment income
total $3,105,128 · excluded $3,105,128
-
7a · Gross sales of assets other than inventory
securities $6,233,492
-
7b · Less cost or other basis and sales expenses
securities $4,972,205
-
7c · Gain or loss
securities $1,261,287
-
7d · Net gain or loss
total $1,261,287 · excluded $1,261,287
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,466,770 · program services $10,466,770
-
5 · Compensation of officers, directors and key employees
total $354,878 · program services $255,512 · management and general $99,366
-
7 · Other salaries and wages
total $103,866 · program services $73,792 · management and general $30,074
-
8 · Pension plan contributions
total $16,665 · program services $11,999 · management and general $4,666
-
9 · Other employee benefits
total $90,651 · program services $65,269 · management and general $25,382
-
10 · Payroll taxes
total $20,607 · program services $15,437 · management and general $5,170
-
11b · Fees: legal
total $130,366 · management and general $130,366
-
11c · Fees: accounting
total $34,401 · management and general $34,401
-
11f · Fees: investment management
total $139,201 · management and general $139,201
-
11g · Fees: other
total $2,215 · management and general $2,215
-
13 · Office expenses
total $178,345 · program services $44,230 · management and general $134,115
-
14 · Information technology
total $28,202 · program services $20,305 · management and general $7,897
-
19 · Conferences, conventions and meetings
total $51,545 · program services $3,916 · management and general $47,629
-
23 · Insurance
total $4,804 · management and general $4,804
-
24a · Other expenses: Membership dues
total $3,260 · management and general $3,260
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $95,207 · end of year $922,440
-
2 · Savings and temporary cash investments
beginning of year $6,985,412 · end of year $10,717,388
-
3 · Pledges and grants receivable
beginning of year $4,524,567 · end of year $4,524,317
-
9 · Prepaid expenses and deferred charges
end of year $23,226
-
11 · Investments: publicly traded securities
beginning of year $87,505,326 · end of year $102,277,678
-
13 · Investments: program-related
beginning of year $5,098,316 · end of year $5,090,873
-
17 · Accounts payable and accrued expenses
beginning of year $5,775 · end of year $1,271
-
18 · Grants payable
beginning of year $554,697 · end of year $1,693,476
-
27 · Net assets without donor restrictions
beginning of year $103,648,356 · end of year $121,861,175
Mission and programs · 2023
Mission
The mission of the Endowment is to hold, administer and distribute funds exclusively to and in aid of the religious, charitable and educational purposes of Moody Methodist Church.
Activities or mission (Part I)
Advancing the care of people in the Name and Spirit of Jesus Christ.
-
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.
Expenses $10,957,230 · Grants $10,466,770
As filed on the 2023 return.
Listed in Part VII
-
Jay Sims
Chair, Director
- Total calculated
- $0
- Hours/week
- 5
-
Ramona Webb Holbrook
Secretary, Director
- Total calculated
- $0
- Hours/week
- 5
-
Roland Louis Bassett
Director
- Total calculated
- $0
- Hours/week
- 5
-
Edie Harrington
Director
- Total calculated
- $0
- Hours/week
- 5
-
Matthew Hay
Director
- Total calculated
- $0
- Hours/week
- 5
-
Linda Mignerey
Director
- Total calculated
- $0
- Hours/week
- 5
-
E Jerome Pederson
Director
- Total calculated
- $0
- Hours/week
- 5
-
Danica Premirelli
Director
- Total calculated
- $0
- Hours/week
- 5
-
Bert Bagley
Executive Director
- Total calculated
- $217,440
- From this org
- $176,000
- From related orgs
- $0
- Other
- $41,440
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $176,000
- Bonus
- $0
- Other
- $0
- Deferred
- $5,280
- Nontaxable benefits
- $36,160
- Filer's total
- $217,440
-
Randall K Robinson
CFO
- Total calculated
- $137,438
- From this org
- $114,500
- From related orgs
- $0
- Other
- $22,938
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
Moody Memorial First United Methodist Church
$1,475,000
General Support
-
Moody Memorial First United Methodist Church
$1,184,535
General Support
-
$1,000,000
Health Sciences Education Center - classroom equipment
-
$494,000
Initial Operating Expenses
-
Moody Memorial First United Methodist Church
$459,952
General Support
-
$300,000
HVAC, Bathrooms, plus
-
$246,146
Bathroom renovations
-
Moody Memorial First United Methodist Church
$232,837
General Support
-
$200,000
Equity Access Scholarship Fund
-
Operating Budget
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Moody Methodist Church
501(c)(3) · Church · TX
-
501(c)(3) · Support for Moody Methodist Church · TX
Directly controlled by Moody Methodist Church
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 3 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540349349301079
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.