Permanent Endowment Fund Of The Moody Memorial First United Method

Organization Overview

Permanent Endowment Fund Of The Moody Memorial First United Method is located in Galveston, TX. The organization was established in 2001. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Permanent Endowment Fund Of The Moody Memorial First United Method employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permanent Endowment Fund Of The Moody Memorial First United Method 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, Permanent Endowment Fund Of The Moody Memorial First United Method generated $19.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Permanent Endowment Fund Of The Moody Memorial First United Method has awarded 146 individual grants totaling $14,167,221. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ADVANCING THE CARE OF PEOPLE IN THE NAME AND SPIRIT OF JESUS CHRIST.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST METHODIST CHURCH (PEF) AIDS IN THE RELIGIOUS, CHARITABLE, EDUCATIONAL, AND MISSIONAL PURPOSES OF THE MOODY METHODIST CHURCH AND THE UNITED METHODIST CHURCH.


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Board, Officers & Key Employees

Name (title)Compensation
Bert R Bagley
Executive Director
$168,000
Randall K Robinson
CFO
$105,000
Kimblyn N Raschke
Chair
$0
Jay Sims
Secretary
$0
Gail Ayers Cantini
Director
$0
Roland Louis Bassett
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$8,115,499
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,115,499
Total Program Service Revenue$0
Investment income $3,449,195
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $7,470,122
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $19,045,257

Grants Awarded

Over the last fiscal year, Permanent Endowment Fund Of The Moody Memorial First United Method has awarded $4,375,249 in support to 67 organizations.

Grant RecipientAmount

UMC TEXAS ANNUAL CONFERENCE

Org PageRecipient Profile

Houston, TX

PURPOSE: Education & Child Development

$422,394

MOODY METHODIST DAY SCHOOL

Org PageRecipient Profile

Galveston, TX

PURPOSE: Operating Support

$400,000

MOODY METHODIST CHURCH

PURPOSE: Operating Support

$281,663

CENTRAL UNITED METHODIST CHURCH

PURPOSE: Stokes Hall Remodel

$221,388

NEW LIFE DAY SCHOOL

Org PageRecipient Profile

Galveston, TX

PURPOSE: Student Scholarships

$189,990

MOODY EARLY CHILDHOOD CENTER

Org PageRecipient Profile

Galveston, TX

PURPOSE: Equity Access Scholarship Fund

$150,000
View Grant Profile

Endowment Analysis

Beg. Balance$90,590,946
Earnings$6,987,754
Admin Expense$327,517
Net Contributions$160
Other Expense$263,309
Grants$10,478,579
Ending Balance$86,509,295

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