Welborn-Payne Endowment Trust
- Assets
- $36.6m
- Revenue
- $4.7m
- Investments
- $32.9m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 75-6435671
Organization Overview
Welborn-Payne Endowment Trust is located in Lubbock, TX. The organization was established in 1993. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Welborn-Payne Endowment Trust 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 12/2021, Welborn-Payne Endowment Trust generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 1.0% 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 2016, Welborn-Payne Endowment Trust has awarded 94 individual grants totaling $8,951,089. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $45,627 |
| Interest on Savings | $26,789 |
| Dividends & Interest | $830,537 |
| Net Rental Income | $62,718 |
| Net Gain on Sale of Assets | $3,305,850 |
| Capital Gain Net Income | $3,305,850 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $420,681 |
| Total Revenue | $4,694,408 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $139,183 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $44,034 |
| Depreciation | $62,187 |
| Occupancy | $792 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $34,966 |
| Total operating and administrative expenses | $286,262 |
| Contributions, gifts, grants paid | $1,494,139 |
| Total expenses and disbursements | $1,780,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,225,593 |
| Net Accounts receivable | $10,881 |
| Net Pledges Receivable | $18,109 |
| 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 | $120,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $32,904,645 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $353,023 |
| Total assets | $36,632,251 |
| 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, Welborn-Payne Endowment Trust has awarded $1,777,675 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CASA OF THE SOUTH PLAINS INC PURPOSE: TO SUPPORT THE MISSION OF CASA IN RECRUITING AND TRAINING VOLUNTEERS TO SERVE AS ADVOCATES FOR ABUSED AND NEGLECTED CHILDREN | $60,000 |
COMMUNITY HEALTH CENTER OF LUBBOCK PURPOSE: TO ASSIST WITH PROVIDING HEALTH CARE SERVICES TO THE NEEDY | $100,000 |
FAMILY COUNSELING SERVICES PURPOSE: TO PROVIDE FUNDS FOR COUNSELING AND EDUCATIONAL SERVICES TO RESIDENTS OF WEST TEXAS | $22,000 |
BALLET LUBBOCK PURPOSE: TO SUPPORT PRE-PROFESSIONAL DANCE EDUCATION AND PERFORMANCES | $115,000 |
FIRST UNITED METHODIST CHURCH PURPOSE: TO SUPPORT THE MISSION OF THE METHODIST CHURCH | $295,000 |
SCIENCE SPECTRUM INC PURPOSE: TO FUND THE ACTIVITIES OF THE MUSEUM. | $190,000 |