Westerman Foundation EIN 75-2897679

Westerman Foundation

EIN  75-2897679 Private foundation / grantmaker Plano, TX
Form 990 (PDF) Compare with another nonprofit →
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Size
$1–10M
What they do
A private foundation based in Plano, TX. It reported about $2.3M in revenue for 2024.
Leadership
Valerie H Goddard · Executive Director · $79K
Money in and out
$2.3M revenue, $2.1M expenses
Bottom line

A private foundation based in Plano, TX. It reported about $2.3M in revenue for 2024. For fiscal year 2024 it reported $2.3M in revenue, $2.1M in expenses, and $35.7M in net assets.Pt I

Grants paid & assets · FY2024
Total revenue
$2.3M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$35.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $205K
Total assets
35.7M
deployed as grants and operations
Grants paid
1.8M
in FY2024
Grants made
80grants
total in period
Payout rate
5%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 80 grants · $1.8M · 2024–2024
Saint Cecilia Catholic SchoolFY2024$50,000
Our Lady of Perpetual Help SchoolFY2024$50,000
St Eugene Catholic ChurchFY2024$50,000
St Eugene Catholic SchoolFY2024$50,000
Donnelly CollegeKS · FY2024$50,000
Catholic Charities of the Diocese of LaredoFY2024$50,000
Catholic Charities Fort WorthFY2024$50,000
Mount St ScholasticaKS · FY2024$45,000
Bishop Ward High SchoolFY2024$45,000
James L Collins Catholic SchoolFY2024$41,000
St Benedict's AbbeyFY2024$40,000
Marian Middle SchoolMO · FY2024$40,000
Saint Catherine of Alexandria SchoolFY2024$36,200
St Benilde School MetairieFY2024$34,000
Saint Michael Indian SchoolFY2024$32,000
St Teresa of Avila SchoolCA · FY2024$31,677
Good Shepherd Catholic SchoolFY2024$30,000
Sister Thea Bowman Catholic SchoolFY2024$30,000
See all 80 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV17
Average grantPart XV$22K
Median grantPart XV$20K
Largest grantPart XV$50K
Top cause focusNTEEEducation (6%)

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$2.3M
FY2024▲ +318%
Expenses
$2.1M
FY2024▲ +10%
Total assets
$35.7M
FY2024▲ +5%
Total liabilities
$0
FY2024
Total revenue
$2.3M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$35.7M
Pt X · Ln 32
Total assetsPt II$35.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWesterman Foundation
EINHdr · item D75-2897679
Principal addressHdr · item CPlano, TX
WebsiteHdr · item Jthewestermanfoundation.org
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFJun 2001

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$78,750Pt VII · Sec A
$25,000Pt VII · Sec A
Vice President
$5,000Pt VII · Sec A
Treasurer
$5,000Pt VII · Sec A
$5,000Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2024FY2021
Valerie H Goddard$78,750$70,040
Lindsey Thompson$25,000$14,500
James Lewis III$6,000
John Settich$5,000$3,000
Dan Carey$5,000$3,000
Julie Westerman$5,000$3,000
Sandra Zita Pratt$3,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Investment income100%$2.3M
Total revenueLn 12$2.3M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.83 Operating & administrative $0.17
Grants & contributions paid83%$1.8M
Operating & administrative17%$359K
Total functional expensesLn 25$2.1M

Balance Sheet

Part X · end of year
CashLn 1$255K
Total assetsLn 16$35.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$35.7M
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $35.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $2.3M
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $2.3M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $2.3M · Prior year $562K
+318%
Revenue CAGR
FY2020 $2.9M · FY2024 $2.3M
-5%
Net-asset trend (YoY)
End of year $35.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.3M · Expenses $2.1M
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $35.7M
Net-asset ratio
Net assets $35.7M · Total assets $35.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Valerie H Goddard · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $79K · Total expenses $2.1M
4%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 318%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.3M revenue · viewing · ⤓ 990 PDF
FY2023$562K revenue · ⤓ 990 PDF
FY2022$-247K revenue · ⤓ 990 PDF
FY2021$5.0M revenue · ⤓ 990 PDF
FY2020$2.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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