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Nonprofiteer
← TURNING POINT ENDOWMENT INC

Form 990 for tax year 2024

Filed by TURNING POINT ENDOWMENT INC.

Totals

Total revenue
$5,287,186
Total expenses
$533,297
Contributions and grants received
$3,650,000
Grants paid
$0
Program service revenue
$0
Investment income
$1,586,186
Other revenue
$51,000
Total assets, end of year
$80,982,834
Total liabilities, end of year
$54,652
Net assets or fund balances, end of year
$80,928,182
Program services expenses (Part IX)
$288,801
Management and general expenses
$244,496
Fundraising expenses
$0
Program service expenses (Part III)
$288,801

Program services were 54.2% 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.

  • 1d · Related organizations

    $3,650,000

  • 3 · Investment income

    total $1,586,186 · excluded $1,586,186

  • 6a · Gross rents

    real property $51,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $51,000

  • 6d · Net rental income or loss

    total $51,000 · excluded $51,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $5,360 · management and general $5,360

  • 11c · Fees: accounting

    total $3,360 · management and general $3,360

  • 11f · Fees: investment management

    total $211,685 · management and general $211,685

  • 13 · Office expenses

    total $4,363 · management and general $4,363

  • 14 · Information technology

    total $3,025 · management and general $3,025

  • 16 · Occupancy

    total $151,311 · program services $151,311

  • 19 · Conferences, conventions and meetings

    total $2,158 · management and general $2,158

  • 22 · Depreciation, depletion and amortization

    total $137,490 · program services $137,490

  • 23 · Insurance

    total $14,545 · management and general $14,545

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,541,985 · end of year $38,206

  • 4 · Accounts receivable

    beginning of year $5,000

  • 7 · Other notes and loans receivable

    end of year $5,000,000

  • 10a · Land, buildings and equipment: cost or other basis

    $5,880,065

  • 10b · Land, buildings and equipment: accumulated depreciation

    $670,950

  • 10c · Land, buildings and equipment, net

    beginning of year $5,339,504 · end of year $5,209,115

  • 11 · Investments: publicly traded securities

    beginning of year $42,612,905 · end of year $39,006,904

  • 12 · Investments: other securities

    beginning of year $20,209,234 · end of year $31,228,609

  • 15 · Other assets

    beginning of year $33,751 · end of year $500,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,933 · end of year $42,489

  • 25 · Other liabilities

    beginning of year $11,027 · end of year $12,163

  • 27 · Net assets without donor restrictions

    beginning of year $69,685,419 · end of year $80,928,182

Mission and programs · 2024

Mission

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.

  • TURNING POINT ENDOWMENT IS A SUPPORTING ORGANIZATION TO TURNING POINT USA ("TPUSA"), WHICH IS A 501(C)(3) ENTITY WITH A MISSION TO EDUCATE STUDENTS ABOUT THE IMPORTANCE OF FISCAL RESPONSIBILITY, FREE MARKETS, AND CAPITALISM. THE ORGANIZATION SUPPORTS TPUSA THROUGH CONTRIBUTIONS AND BY MAINTAINING INVESTMENTS TO SUPPORT TPUSA'S LONG-TERM VITALITY.

    Expenses $288,801

As filed on the 2024 return.

Listed in Part VII

  • PETER THERON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIM HOLDEN

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHARLIE KIRK

    PRESIDENT

    Total calculated
    $390,637
    From this org
    $0
    From related orgs
    $384,859
    Other
    $5,778
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $384,859 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $5,778 related
    Filer's total
    $0 + $390,637 related

  • JUSTIN OLSON

    ASSISTANT TREASURER

    Total calculated
    $270,705
    From this org
    $0
    From related orgs
    $264,894
    Other
    $5,811
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,894 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $5,811 related
    Filer's total
    $0 + $270,705 related

  • FRANK CARNI II

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 49 related

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES. THE PRESIDENT AND ASSISTANT TREASURER LISTED IN FORM 990, PART VII ARE PAID BY THE SUPPORTED ORGANIZATION, TURNING POINT USA, AND ANOTHER AFFILIATE ORGANIZATION. COMPENSATION FOR THESE INDIVIDUALS IS DETERMINED BY TURNING POINT USA WHICH IS DONE THROUGH THE USE OF A COMPENSATION COMMITTEE, COMPARISONS TO FORMS 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS, AND IS SUBJECT TO BOARD APPROVAL.

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

No itemized grants to organizations on this return.

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.

  • TURNING POINT USA INC

    501(C)(3) · DEVELOPMENT OF KNOWLEDGE TO RESTORE TRADITIONAL AMERICAN VALUES · IN

  • TURNING POINT ACTION INC

    501(C)(4) · PROMOTE SOCIAL WELFARE TO INITIATE CIVIC ACTION AMONG THE YOUNGER GENERATION · IN

    Directly controlled by TURNING POINT USA

  • AMERICA'S TURNING POINT INC

    501(C)(3) · EDUCATION OF STUDENTS AT HIGH SCHOOLS AND COLLEGES/UNIVERSITIES · IN

    Directly controlled by TURNING POINT USA

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349314836

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