Southgate Foundation INC EIN 76-0352686

Southgate Foundation INC

EIN  76-0352686 Religious organization Houston, TX
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Size
$100K–1M
What they do
Offers religious and educational services like classes, seminars, retreats, and counseling.
Leadership
Kathleen McGarry · President · $4K
Money in and out
$710K revenue, $541K expenses
Bottom line
98% program efficiency

Offers religious and educational services like classes, seminars, retreats, and counseling. For fiscal year 2024 it reported $710K in revenue, $541K in expenses, and $1.8M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$710K
Pt VIII · Ln 12
Total expenses
$541K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $169K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
7.8mo
months of highly liquid reserves at operating expense rate▲ +100% vs prior filing year
Surplus margin
+24%
revenue over expenses, this year▲ ×23 vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$710K
FY2024▲ +6%
Expenses
$541K
FY2024▼ -18%
Total assets
$1.9M
FY2024▲ +9%
Total liabilities
$142K
FY2024▼ -4%
Total revenue
$710K
Pt VIII · Ln 12
Total expenses
$541K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$169K
Total assetsPt X · Ln 16$1.9M
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 42
Mission & Programs · Part III

Where the work happens

1 program service account for $531K of program spending, described in the organization's own filed words · FY2024.
01

Conducted programs for women and girls to promote our mission of building character, strengthening the family, growing in virtue, etc through classes, seminars, retreats and the like.

$531Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSouthgate Foundation INC
EINHdr · item D76-0352686
Principal addressHdr · item CHouston, TX
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFReligion (X99Z)
Ruling yearIRS BMFAug 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$4,000Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Kathleen McGarry’s $4K as President is at the 2nd percentile of top reported officer pay among 2136 $100K–1M religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jeannette Perez-Gruber$2,931$8,266
Patricia Keefe$4,000$7,999$7,999
Maria Valdeavellano$7,999
Kathleen McGarry$4,000$4,000$4,000$4,000$3,999

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
Contributions & grants$633K · 89%
Program service revenue$59K · 8%
Other revenue$17K · 2%
Contributions & grants89%$633K
Program service revenue8%$59K
Other revenue2%$17K
Total revenueLn 12$710K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$531K
Management & general2%$10K
Total functional expensesLn 25$541K

Balance Sheet

Part X · end of year
CashLn 1$353K
Total assetsLn 16$1.9M
Total liabilitiesLn 26$142K
Total net assetsLn 32$1.8M
Months of cash on handcomputed7.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $353K · Operating expenses/yr $541K
7.8 months
Where the money goes
Program services
Program services $531K · Total expenses $541K
98%
Management & General
Management & general $10K · Total expenses $541K
2%
Fundraising
Fundraising $0 · Total expenses $541K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $608K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $633K · Total revenue $710K
89%
Government reliance
Government grants — · Total revenue $710K
Earned-income share
Program service revenue $59K · Total revenue $710K
8%
Investment reliance
Investment income $0 · Total revenue $710K
0%
Program self-sufficiency
Program service revenue $59K · Total expenses $541K
11%
Growth & trend
Revenue growth (YoY)
This year $710K · Prior year $670K
+6%
Revenue CAGR
FY2020 $537K · FY2024 $710K
+7%
Net-asset trend (YoY)
End of year $1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $710K · Expenses $541K
+24%
Liabilities-to-Assets
Total liabilities — · Total assets $1.9M
Net-asset ratio
Net assets $1.8M · Total assets $1.9M
93%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.9M
0%
People & payroll
Highest Reported Total Compensation
Individual Kathleen McGarry · Reported title President · Highest reported compensation $4K · Total expenses $541K
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $29K · Total expenses $541K
5%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%
Overhead ratio 2%
Fundraising cost ratio 0%
Revenue growth 6%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%
Fundraising fee ratio 0%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$182K
See all 3 funders →
Grants paid · 20 grants · $1.5M · 2020–2024
Southmore Foundation INCTX · FY2024$195,709
Arborlea Study Center INCTX · FY2024$72,783
Rosemoor Foundation INCNY · FY2024$50,000
Unitemized GrantFY2024$7,920
Southmore Foundation INCTX · FY2023$199,708
Sheridan Study CenterFY2023$195,900
Arborlea Study Center INCTX · FY2023$67,045
Unitemized GrantFY2023$14,575
Southmore Foundation INCTX · FY2022$157,031
Sheridan Study CenterFY2022$87,100
Rosemoor Foundation INCNY · FY2022$53,163
Arborlea Study Center INCTX · FY2022$27,393
Unitemized GrantFY2022$13,782
Southmore Foundation INCTX · FY2021$92,939
Rosemoor Foundation INCNY · FY2021$86,983
Arborlea Study Center INCTX · FY2021$19,900
Southmore Foundation INCTX · FY2020$95,768
See all 20 grants →

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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)$710K revenue · viewing · ⤓ 990 PDF
FY2023$670K revenue · ⤓ 990 PDF
FY2022$646K revenue · ⤓ 990 PDF
FY2021$573K revenue · ⤓ 990 PDF
FY2020$537K 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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