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Nonprofiteer
← THE CULLEN TRUST FOR HIGHER EDUCATION

Form 990 for tax year 2023

Filed by THE CULLEN TRUST FOR HIGHER EDUCATION.

Totals

Total revenue
$186,367
Total expenses
$2,844,357
Contributions and grants received
$0
Grants paid
$2,500,000
Program service revenue
$0
Investment income
$291,563
Other revenue
-$105,196
Total assets, end of year
$69,910,673
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$69,910,673
Program services expenses (Part IX)
$2,500,000
Management and general expenses
$344,357
Fundraising expenses
$0
Program service expenses (Part III)
$2,500,000

Program services were 87.9% 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.

  • 3 · Investment income

    total $1,918,831 · excluded $1,918,831

  • 7a · Gross sales of assets other than inventory

    securities $27,723,916

  • 7b · Less cost or other basis and sales expenses

    securities $29,351,184

  • 7c · Gain or loss

    securities -$1,627,268

  • 7d · Net gain or loss

    total -$1,627,268 · excluded -$1,627,268

  • 11a · Other revenue: PARTNERSHIP INCOME (LOSS)

    total -$105,196 · excluded -$105,196

  • 11e · Other revenue, total

    -$105,196

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,500,000 · program services $2,500,000

  • 11a · Fees: management

    total $36,792 · management and general $36,792

  • 11c · Fees: accounting

    total $38,000 · management and general $38,000

  • 11f · Fees: investment management

    total $260,803 · management and general $260,803

  • 24a · Other expenses: PARTNERSHIP EXPENSES

    total $8,762 · management and general $8,762

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $78,192 · end of year $446,660

  • 11 · Investments: publicly traded securities

    beginning of year $68,033,305 · end of year $65,149,811

  • 12 · Investments: other securities

    beginning of year $4,343,208 · end of year $4,314,202

  • 27 · Net assets without donor restrictions

    beginning of year $72,454,705 · end of year $69,910,673

Mission and programs · 2023

Mission

SUPPORT INSTITUTIONS OF HIGHER EDUCATION.

  • THE TRUST WAS CREATED FOR CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES AND IS ADMINISTERED SOLELY FOR BENEFIT OF INSTITUTIONS OF HIGHER EDUCATION WITHIN THE STATE OF TEXAS, PRIMARILY THOSE LOCATED WITHIN GREATER HOUSTON. THE TRUSTEES HAVE THE DISCRETION TO PROVIDE FINANCIAL ASSISTANCE TO ANY OR ALL OF THE SUPPORTED ORGANIZATIONS.

    Expenses $2,500,000 · Grants $2,500,000

As filed on the 2023 return.

Listed in Part VII

  • Robert Arnold

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Katie Cullen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Hugh Roy Marshall Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Christine Morenz

    TRUSTEE/VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Corbin J Robertson Jr

    TRUSTEE/CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Curtis Huff

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Dr Robert B Sloan Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Chris Cragg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Jolie Howard

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

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.

Grants on this return

  • SOUTHWESTERN UNIVERSITY

    $500,000

    TO SUPPORT THE RENOVATION OF MOOD BRIDWELL HALL

  • HOUSTON CHRISTIAN UNIVERSITY

    $500,000

    TO SUPPORT THE CONSTRUCTION OF HCU'S NEW SCIENCE, ENGINEERING AND NURSING BUIDLING

  • BAYLOR COLLEGE OF MEDICINE

    $500,000

    TOWARD THE CONSTRUCTION OF THE HEALTH SCIENCES TOWER AS PART OF THE EXPANSION OF THE MCNAIR CAMPUS

  • UNIVERSITY OF ST THOMAS

    $500,000

    TO SUPPORT UST'S INNOVATION AND ATHLETICS INITIATIVES.

  • UNIVERSITY OF TEXAS AT AUSTIN

    $500,000

    TO ESTABLISH AND SUPPORT AN ENDOWED CHAIR FOR THE EXECUTIVE DIRECTOR OF THE VALUE INSTITUTE FOR HEALTH AND CARE AT DELL MEDICAL SCHOOL.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202413269349301231

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