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Nonprofiteer
← ST ALBERT TRUST

Form 990 for tax year 2022

Filed by ST ALBERT TRUST.

Totals

Total revenue
$250,423
Total expenses
$376,650
Contributions and grants received
$250,000
Grants paid
$364,000
Program service revenue
$0
Investment income
$423
Other revenue
$0
Total assets, end of year
$6,496,231
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$6,496,231
Program services expenses (Part IX)
$376,650
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$376,650

Program services were 100.0% 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

    $250,000

  • 3 · Investment income

    total $423 · excluded $423

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $364,000 · program services $364,000

  • 11a · Fees: management

    total $10,000 · program services $10,000

  • 11b · Fees: legal

    total $850 · program services $850

  • 11c · Fees: accounting

    total $1,800 · program services $1,800

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $134,870 · end of year $8,643

  • 12 · Investments: other securities

    beginning of year $6,487,588 · end of year $6,487,588

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $6,622,458 · end of year $6,496,231

Mission and programs · 2022

Mission

THE MISSION OF THE LINBECK FAMILY CHARITABLE TRUST IS TO IMPROVE THE LIVES OF OTHERS, PRIMARILY IN THE GREATER METROPOLITAN HOUSTON AREA, BY MAKING GRANTS TO ORGANIZATIONS IN THE AREAS OF HEALTH, EDUCATION, AND HUMAN SERVICES.

  • THE LINBECK FAMILY CHARITABLE TRUST DONATED $364,000 TO VARIOUS TAX EXEMPT ORGANIZATIONS DURING 2022.

    Expenses $376,650 · Grants $364,000

As filed on the 2022 return.

Listed in Part VII

  • Leo Linbeck III

    PRESIDENT/TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Stephen D Maislin

    VICE PRESIDENT/SECRETARY/TRUSTEE

    Total calculated
    $704,628
    From this org
    $0
    From related orgs
    $652,565
    Other
    $52,063
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $461,971 related
    Bonus
    $0 + $190,594 related
    Other
    $0
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $33,763 related
    Filer's total
    $0 + $704,628 related

  • Rebecca Hove

    TREASURER/TRUSTEE

    Total calculated
    $260,891
    From this org
    $0
    From related orgs
    $233,660
    Other
    $27,231
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,660 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $14,113 related
    Nontaxable benefits
    $0 + $13,118 related
    Filer's total
    $0 + $260,891 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

  • 4b · Supplemental nonqualified retirement plan
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 4B
THE RELATED ORGANIZATION HAS ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH AN EXECUTIVE EMPLOYED BY GREATER HOUSTON COMMUNITY FOUNDATION. THE TERM OF THE AGREEMENT IS COEXTENSIVE WITH THE TERM OF THE EMPLOYEE'S EMPLOYMENT WITH THE FOUNDATION. THE AGREEMENT PROVIDES ONLY DEFERRED AND CONTINGENT COMPENSATION WHICH IS PAYABLE AS THE EMPLOYEE BECOMES VESTED IN THAT COMPENSATION.
PART I, LINE 8
THE DEFFERED COMPENSATION AGREEMENT DISCLOSED IN LINE 4B IS SUBJECT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGS. SECTION 53.4958-4(A)(3).

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

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
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202343179349303609

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