Turning Point Endowment Inc
- Assets
- $48.1m
- Revenue
- $19.5m
- Investments
- $8.1m
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 02/2018
- Data as of
- 06/2021
- EIN
- 82-1225311
Organization Overview
Turning Point Endowment Inc is located in Phoenix, AZ. The organization was established in 2018. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turning Point Endowment Inc 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 06/2021, Turning Point Endowment Inc generated $19.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 60.6% each year . All expenses for the organization totaled $276.8k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TURNING POINT ENDOWMENT IS A SUPPORTING ORGANIZATION TO TURNING POINT USA. THE ORGANIZATION'S MISSION IS TO SUPPORT AND BENEFIT TURNING POINT USA'S CHARITABLE PURPOSES AND LONG-TERM VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TURNING POINT ENDOWMENT IS A SUPPORTING ORGANIZATION TO TURNING POINT USA ("TP USA"), WHICH IS A 501C3 ENTITY WITH A MISSION TO EDUCATE STUDENTS ABOUT THE IMPORTANCE OF FISCAL RESPONSIBILITY, FREE MARKETS, AND CAPITALISM. THE ORGANIZATION SUPPORTS TP USA THROUGH CONTRIBUTIONS AND BY MAINTAINING INVESTMENTS TO SUPPORT TPUSA'S LONG-TERM VITALITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Kirk President | OfficerTrustee | 1 | $0 |
Jim Holden Secretary/treasurer | Trustee | 1 | $0 |
Peter Theron Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $18,825,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,825,000 |
| Total Program Service Revenue | $0 |
| Investment income | $556,821 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $109,324 |
| Net Gain/Loss on Asset Sales | $2,504 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,493,649 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $0 |
| Fees for services: Legal | $11,972 |
| Fees for services: Accounting | $22,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,416 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $369 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,467 |
| 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 | $91,547 |
| Insurance | $3,318 |
| All other expenses | $211 |
| Total functional expenses | $276,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,125 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,600 |
| 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 |
| Net Land, buildings, and equipment | $5,452,624 |
| Investments—publicly traded securities | $34,462,006 |
| Investments—other securities | $8,090,016 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,917 |
| Total assets | $48,133,288 |
| 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 | $48,133,288 |
| 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 | $48,133,288 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Turning Point Endowment Inc has recieved totaling $18,825,000.
| Awarding Organization | Amount |
|---|---|
Turning Point Usa Inc Phoenix, AZ PURPOSE: AWARENESS OF FREE MARKETS | $18,825,000 |
Endowment Analysis
| Beg. Balance | $20,127,640 |
| Earnings | $5,959,278 |
| Admin Expense | $99,416 |
| Net Contributions | $18,934,324 |
| Other Expense | $2,241,162 |
| Ending Balance | $42,680,664 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Money Management International Inc Phoenix, AZ | $55,363,723 | $38,595,180 |
Consumer Credit Counseling Service Of San Francisco Concord, CA | $9,996,299 | $17,336,495 |
Springboard Non-Profit Consumer Credit Management Inc Riverside, CA | $8,795,796 | $5,993,379 |
Take Charge America Inc Phoenix, AZ | $22,881,953 | $7,255,476 |
Usa Homeownership Foundation Inc Corona, CA | $3,434,411 | $5,441,843 |
Debtwave Credit Counseling Inc Escondido, CA | $1,629,187 | $5,189,974 |
Access Counseling Inc Los Angeles, CA | $878,879 | $2,910,345 |
Earn To Learn Tucson, AZ | $1,535,362 | $2,450,878 |
Christian Credit Counselors Inc Carlsbad, CA | $6,458,952 | $2,790,959 |
Abacus Credit Counseling Encino, CA | $7,151,653 | $2,039,579 |
American Credit Foundation Inc Draper, UT | $673,807 | $2,274,444 |
National Budget Planners Of South Florida Inc Livermore, CA | $1,611,064 | $2,018,775 |