John G & Marie Stella Kenedy Memorial Foundation
- Assets
- $364.9m
- Revenue
- $75.1m
- Investments
- $53.3m
- Employees
- 18
- Location
- Corpus Christi, TX
- Founding
- 03/1961
- Data as of
- 12/2020
- EIN
- 74-6040701
Organization Overview
John G & Marie Stella Kenedy Memorial Foundation is located in Corpus Christi, TX. The organization was established in 1961. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. As of 12/2021, John G & Marie Stella Kenedy Memorial Foundation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John G & Marie Stella Kenedy Memorial Foundation 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, John G & Marie Stella Kenedy Memorial Foundation generated $75.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $18.4m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, John G & Marie Stella Kenedy Memorial Foundation has awarded 2,766 individual grants totaling $102,972,239. 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
THE FOUNDATION SUPPORTS ACTIVITIES WHICH CONTRIBUTE TO THE FOLLOWING CORE VALUES: HELP BREAK THE CYCLE OF POVERTY, ASSIST PEOPLE TO HELP THEMSELVES, NURTURE SUPPORT FOR CATHOLIC INSTITUTIONS, CULTIVATE A PASSION FOR LEARNING, FOSTER RESPECT, AND ENCOURAGE COLLABORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE FOUNDATION MAKES ALL OF ITS CHARITABLE DONATIONS WITHIN THE STATE OF TEXAS. TEN PERCENT OF ITS TOTAL CHARITABLE GRANTS ARE MADE TO NON-SECTARIAN ENTITIES, INSTITUTIONS THAT ARE DEFINED AS NON-RELIGIOUS AND NOT CHURCH RELATED. NINETY PERCENT OF ITS TOTAL CHARITABLE DISTRIBUTIONS ARE MADE TO SECTARIAN ENTITIES. IT IS THE FOUNDATION'S PRACTICE THAT A CATHOLIC SECTARIAN ORGANIZATION SHOULD BE LISTED IN THE OFFICIAL CATHOLIC DIRECTORY. OF THESE SECTARIAN GRANTS, ABOUT 70% ARE MADE IN THE SOUTH TEXAS AREA WHICH INCLUDES THE DIOCESE OF BROWNSVILLE, THE DIOCESE OF CORPUS CHRISTI, AND THE DIOCESE OF LAREDO. EDUCATION HAS BEEN STRONGLY FAVORED IN RECENT GRANT GIVING CYCLES INCLUDING TUITION ASSISTANCE FOR CATHOLIC SCHOOLS AND SCHOLARSHIPS FOR CATHOLIC AND PUBLIC UNIVERSITIES. SERVICE ORGANIZATIONS AND CATHOLIC CHARITIES WHICH TARGET HEALTH, HUMAN SERVICES, THE INDIGENT, EQUAL OPPORTUNITY, AND SERVICE TO OTHERS ARE ALSO FAVORED. BY CONTINUALLY EVOKING THE FOUNDATION'S CORE VALUES WHEN MAKING GRANT DECISIONS, THE FOUNDATION IS ABLE TO HELP COUNTLESS NUMBERS OF PEOPLE.
THE FOUNDATION HAS ESTABLISHED A MUSEUM IN THE HISTORIC KENEDY PASTURE COMPANY BUILDING IN THE TOWNSHIP OF SARITA, TEXAS. SINCE ITS OPENING ON OCTOBER 21, 2003, APPROXIMATELY 17,674 INDIVIDUALS HAVE TOURED THE MUSEUM OR PARTICIPATED IN ITS PROGRAMS. EXAMPLES OF PROGRAMS MAY BE VIEWED AT WWW.KENEDYRANCHMUSEUM.ORG.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvia Whitmore Ceo/officer | Officer | 40 | $248,274 |
Paul Damerow Comptroller | 40 | $149,067 | |
Marco Castillo Operations Officer | 40 | $126,279 | |
Homero Vera Ranch Manager | 40 | $109,210 | |
Silvat Majeed Invest Coordinator | 40 | $104,368 | |
Linda E Galvan Asst Comptroller | 40 | $100,789 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monticello Associates Inc Investment Advisor | 12/30/18 | $300,000 |
Rebel Construction Construction | 12/30/18 | $202,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $345,387 |
| All other contributions, gifts, grants, and similar amounts not included above | $125 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $345,512 |
| Total Program Service Revenue | $640 |
| Investment income | $7,221,989 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,444,159 |
| Net Rental Income | $3,408,214 |
| Net Gain/Loss on Asset Sales | $55,355,976 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,089,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,264,528 |
| 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. | $492,570 |
| Compensation of current officers, directors, key employees. | $272,855 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,175,170 |
| Pension plan accruals and contributions | $130,934 |
| Other employee benefits | $178,578 |
| Payroll taxes | $100,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,083 |
| Fees for services: Accounting | $50,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $612,835 |
| Fees for services: Other | $115,947 |
| Advertising and promotion | $8,512 |
| Office expenses | $48,123 |
| Information technology | $44,770 |
| Royalties | $0 |
| Occupancy | $176,777 |
| Travel | $18,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,151 |
| Interest | $2,287 |
| Payments to affiliates | $11,433 |
| Depreciation, depletion, and amortization | $359,422 |
| Insurance | $87,895 |
| All other expenses | $9,112 |
| Total functional expenses | $18,408,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,944,904 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,059,477 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $433,274 |
| Inventories for sale or use | $107,366 |
| Prepaid expenses and deferred charges | $66,499 |
| Net Land, buildings, and equipment | $8,788,564 |
| Investments—publicly traded securities | $281,204,766 |
| Investments—other securities | $53,281,567 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $364,888,417 |
| Accounts payable and accrued expenses | $181,251 |
| Grants payable | $9,411,859 |
| Deferred revenue | $1,592,379 |
| 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 | $56,452 |
| Total liabilities | $11,241,941 |
| Net assets without donor restrictions | $353,646,476 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $364,888,417 |
Grants Awarded
Over the last fiscal year, John G & Marie Stella Kenedy Memorial Foundation has awarded $15,096,042 in support to 310 organizations.
| Grant Recipient | Amount |
|---|---|
DIOCESE OF CORPUS CHRISTI PURPOSE: 10% Income Distribution | $4,213,542 |
DIOCESE OF CORPUS CHRISTI PURPOSE: General Operations | $252,000 |
San Juan, TX PURPOSE: Acquisition of New A/C Air Handlers | $217,000 |
Corpus Christi, TX PURPOSE: Programs Support and Community Christmas | $200,000 |
Brownsville, TX PURPOSE: Operational Support | $200,000 |
OFFICE OF RELIGIOUS VOCATIONS DIOCESE OF LAREDO PURPOSE: Vocations through Religious and Academic Formation | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John G & Marie Stella Kenedy Memorial Foundation Corpus Christi, TX | $364,888,417 | $75,089,891 |
Gods Healthy Place Inc Fort Worth, TX | $0 | $0 |
First Methodist Church Of Fort Worth Foundation Inc Fort Worth, TX | $97,113,260 | $7,597,400 |
Mary R Gallaspy Charitable Trust No One Monroe, LA | $16,837,410 | $596,346 |
Catholic Foundation Of Oklahoma Inc Oklahoma City, OK | $82,819,268 | $6,647,191 |
Park Cities Presbyterian Church Foundation Dallas, TX | $2,207,492 | $1,215,742 |
Your Harvest House Burleson, TX | $1,051,962 | $1,972,586 |
Bethlehem Bible Co Inc New Braunfels, TX | $672,488 | $1,302,204 |
Sja Foundation Baton Rouge, LA | $11,583,947 | $2,001,512 |
St Pauls Methodist Foundation Of Houston Houston, TX | $29,200,178 | $3,302,666 |
Sacred Arts Foundation Cedar Crest, NM | $282,030 | $988,067 |
Endowment Foundation First United Presbyterian Church Albuquerque Albuquerque, NM | $14,946,986 | -$140,979 |