The Cullen Trust For Higher Education
- Assets
- $72.8m
- Revenue
- $3.6m
- Investments
- $4.3m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 01/1979
- Data as of
- 12/2020
- EIN
- 74-1999641
Organization Overview
The Cullen Trust For Higher Education is located in Houston, TX. The organization was established in 1979. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cullen Trust For Higher Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Cullen Trust For Higher Education generated $3.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $3.8m during the year ending 12/2020. While expenses have increased by 4.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Cullen Trust For Higher Education has awarded 38 individual grants totaling $14,720,001. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT INSTITUTIONS OF HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Arnold Trustee/treasurer | OfficerTrustee | 0 | $0 |
Corbin J Robertson Jr Trustee/chairman | OfficerTrustee | 0 | $0 |
Christine Morenz Trustee/vice Chairman | OfficerTrustee | 0 | $0 |
Jolie Howard Secretary | Officer | 0 | $0 |
Curtis Huff Trustee | Trustee | 0 | $0 |
Chris Cragg Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $4,075,284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$688,356 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,592,130 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $27,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $229,907 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,768,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,588 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $68,329,183 |
| Investments—other securities | $4,343,208 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $72,830,979 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $72,830,979 |
Grants Awarded
Over the last fiscal year, The Cullen Trust For Higher Education has awarded $2,950,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: $500,000 TOWARD THE TWO PRIORITY INITIATIVES OF INNOVATION AND ATHLETICS AND ONE TIME GRANT FIRST PAYMENT PAID BY WIRE TO JPMORGAN CHASE. | $500,000 |
UNIVERSITY OF TEXAS AT AUSTIN PURPOSE: TO ESTABLISH AND SUPPORT AN ENDOWED CHAIR FOR THE EXECUTIVE DIRECTOR OF THE VALUE INSTITUTE FOR HEALTH AND CARE AT DELL MEDICINE SCHOOL. | $500,000 |
Houston, TX PURPOSE: TO ESTABLISH AND SUPPORT THE UNIVERSITY'S NEW COLLEGE OF ENGINEERING. | $500,000 |
Georgetown, TX PURPOSE: TO ESTABLISH A PERMANENT ENDOWMENT FUND TO SUPPORT THE SCOPE STUDENT-FACILITY COLLABORATIVE SUMMER RESEARCH PROGRAM. | $500,000 |
Houston, TX PURPOSE: TOWARD IMPROVING HEALTH THROUGH SCIENCE, SCHOLARSHIP AND INNOVATION. | $500,000 |
Waco, TX PURPOSE: TO ESTABLISH THE CULLEN FOUNDATION ENDOWED SCHOLARSHIP IN SOCIAL WORK. | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold E Riley Foundation Fort Worth, TX | $357,850 | $584,984 |
Compass Rose Education Inc San Antonio, TX | $15,459,454 | $19,431,467 |
Three Oclock Project Baton Rouge, LA | $1,930,450 | $18,582,179 |
Athlos Louisiana Terrytown, LA | $4,119,183 | $17,119,142 |
Nmc Inc Los Alamos, NM | $8,318,653 | $11,151,295 |
Valor Texas Education Foundation Austin, TX | $20,040,325 | $11,565,701 |
Foundation For Tulsa Schools Tulsa, OK | $13,402,243 | $11,567,047 |
Eugene Higgins Charitable Trust Dallas, TX | $194,077,327 | $32,131,659 |
Lyndon Baines Johnson Foundation Austin, TX | $271,934,270 | $12,544,612 |
Los Alamos National Laboratory Foundation Espanola, NM | $121,206,991 | $6,734,322 |
Joe W & Dorothy Dorsett Brown Foundation Metairie, LA | $122,222,465 | $11,452,057 |
Canfield Family Foundation Austin, TX | $4,029,217 | $166,419 |