Ernest A Mantzel Foundation
- Assets
- $8.4m
- Revenue
- $744.1k
- Investments
- $7.8m
- Employees
- 0
- Location
- Galveston, TX
- Founding
- 03/1972
- Data as of
- 12/2023
- EIN
- 74-6155151
Organization Overview
Ernest A Mantzel Foundation is located in Galveston, TX. The organization was established in 1972. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ernest A Mantzel 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 12/2023, Ernest A Mantzel Foundation generated $744.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $595.1k during the year ending 12/2023. While expenses have increased by 5.7% per year over the past 8 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES INTEREST-FREE LOANS TO NEEDY/WORTHY STUDENTS WHO ARE TEXAS RESIDENTS AND WHO ATTEND HIGHER EDUCCATION SCHOOLS IN THE STATE OF TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frost National Bank Trustee | 0 | $80,298 | |
Freddie Meier Director | 0 | $0 | |
Katherine Konkel Director | 0 | $0 | |
Harris L Kempner Jr Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $214,996 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $286,982 |
| Capital Gain Net Income | $286,982 |
| Net ST Capital Gain | $1,979 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $242,079 |
| Total Revenue | $744,057 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,360 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,365 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,920 |
| Total operating and administrative expenses | $111,136 |
| Contributions, gifts, grants paid | $484,000 |
| Total expenses and disbursements | $595,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $580,876 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,719 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,424,443 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ernest A Mantzel Foundation has awarded $283,704 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED SCHEDULE PURPOSE: EDUCATIONAL LOAN | $260,000 |
AMERICAN CANCER SOCIETY PURPOSE: UNRESTRICTED | $5,926 |
AMERICAN HEART ASSOCIATION PURPOSE: UNRESTRICTED | $5,926 |
MARCH OF DIMES PURPOSE: UNRESTRICTED | $5,926 |
SALVATION ARMY PURPOSE: UNRESTRICTED | $5,926 |