Saint Martin's Endowment

Tax-deductible

Houston, TX501(c)(3)ReligionEIN 76-0512786Revenue $2.0M in FY2024

On file with the IRS717 Sage Rd, 77056-2111 · Houston, TXTax-exempt since Sep 1996Supporting organization — 509(a)(3)

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The Endowment's mission is to financially support St. Martin's Episcopal Church.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $672K a year · 55% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+182% vs prior year
Spent
$679K
To programs
87%
Net assets
$15.0M
By yearFY2020–FY2024
Revenue
$2.0M
FY2024▲ +182%
Revenue by fiscal year
FY2020$931K
FY2021$1.2M
FY2022$1.2M
FY2023$717K
FY2024$2.0M
Expenses
$679K
FY2024▲ +5%
Expenses by fiscal year
FY2020$348K
FY2021$467K
FY2022$610K
FY2023$644K
FY2024$679K
Net assets
$15.0M
FY2024▲ +12%
Net assets by fiscal year
FY2020$11.0M
FY2021$13.8M
FY2022$11.5M
FY2023$13.3M
FY2024$15.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $592K Management & general 13% · $87K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/Clerk
$0Pt VII · Sec A
Vestry Senior Warden
$0Pt VII · Sec A
Vestry Treasurer
$0Pt VII · Sec A
Vestry Missions Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Saint Martin's Endowment executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides financial support for St. Martin's Episcopal Church.

Provided by the organization

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1 program · $592K · in their own filed words · FY2024
01

Saint Martin's Endowment (the Endowment) was founded by St. Martin's Episcopal Church (the Church) to establish a long-term investment fund to benefit the Church and to aggregate for investment management purposes the various investment accounts of the Church and related entities.

$592Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$25K
Grants paid · 16 grants · $2.4M · 2020–2024
St Martins Episcopal ChurchTX · FY2024$333,965
St Martins Episcopal ChurchTX · FY2024$257,942
St Martins Episcopal ChurchTX · FY2023$263,000
St Martins Episcopal ChurchTX · FY2023$234,274
St Martins Episcopal ChurchTX · FY2023$70,000
St Martins Episcopal ChurchTX · FY2022$231,377
St Martins Episcopal ChurchTX · FY2022$220,925
St Martins Episcopal ChurchTX · FY2022$72,000
St Martins Episcopal ChurchTX · FY2022$12,000
St Martins Episcopal ChurchTX · FY2021$189,729
St Martins Episcopal ChurchTX · FY2021$188,583
St Martins Episcopal ChurchTX · FY2021$15,595
St Martins Episcopal ChurchTX · FY2020$166,557
St Martins Episcopal ChurchTX · FY2020$100,000
St Martins Episcopal ChurchTX · FY2020$15,100
St Martins Episcopal ChurchTX · FY2020$7,212

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Investment incomeLn 3$1.4M
Gifts and grantsLn 1h$612K
Money outPt IX
$679K
Ln 25
Programscol B$592K
Managementcol C$87K
Owns and owesPt X
$15.0M
net assets · Ln 32
Cash and savingsLn 1–2$124K
Total assetsLn 16$16.2M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$612K
Investment incomeLn 3$1.4M
Gains on assetsLn 7$1.2M
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
SavingsLn 2$124K
Cash and savings togetherLn 1–2$124K
InvestmentsLn 11–13$16.0M
Other assetsLn 15$1K
Total assetsLn 16$16.2M
LiabilitiesLn 26$1.2M
Net assetsLn 32$15.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$54K$124K
InvestmentsLn 11–13$14.2M$16.0M
Total assetsLn 16$14.4M$16.2M
LiabilitiesLn 26$1.1M$1.2M
Net assetsLn 32$13.3M$15.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$592K$592K
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$54K$54K
Other expenses (24a–d)Ln 24$19K$19K
Total functional expensesLn 25$679K$592K$87K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.0M$679K$1.3M$15.0M 990 PDF
FY2023 $717K$644K$74K$13.3M 990 PDF
FY2022 $1.2M$610K$584K$11.5M 990 PDF
FY2021 $1.2M$467K$775K$13.8M 990 PDF
FY2020 $931K$348K$583K$11.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,022,923 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $105,992$611,781
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $611,403$1,411,142
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $717,395$2,022,923
I-13 Grants and similar amounts paidPrior year $567,274$591,907
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $76,241$86,682
I-18 Total expensesPrior year $643,515$678,589
I-19 Revenue less expensesPrior year $73,880$1,344,334
Part VI · Governance 15 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,022,923 across 5 lines filed
VIII-1f All other contributions, gifts and grants$611,781
VIII-1h Total contributions, gifts and grants$611,781
VIII-3 Investment incomeExcluded from tax $204,502$204,502
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,206,640$1,206,640
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,411,142$2,022,923
Part IX · Statement of functional expenses $678,589 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $591,907$591,907
IX-11c Accounting feesManagement $13,550$13,550
IX-11f Investment management feesManagement $53,831$53,831
IX-24 Other expenses (24a–d)Management $19,301$19,301
IX-25 Total functional expensesPrograms $591,907 · Management $86,682 · Fundraising $0$678,589
Part X · Balance sheet $16,165,846 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $53,509$123,600
X-4 Accounts receivableStart of year $15,328$16,283
X-11 Publicly traded securitiesStart of year $14,245,511$16,024,583
X-15 Other assetsStart of year $55,399$1,380
X-16 Total assetsStart of year $14,369,747$16,165,846
X-17 Accounts payable and accrued expensesStart of year $1,800$11,621
X-26 Total liabilitiesStart of year $1,073,274$1,213,850
X-27 Net assets without donor restrictionsStart of year $5,443,325$5,962,665
X-28 Net assets with donor restrictionsStart of year $7,853,148$8,989,331
X-32 Total net assets or fund balancesStart of year $13,296,473$14,951,996
X-33 Total liabilities and net assetsStart of year $14,369,747$16,165,846
Part XI · Reconciliation of net assets $14,951,996 net assets at year end
XI-1 Total revenue$2,022,923
XI-2 Total expenses$678,589
XI-3 Revenue less expenses$1,344,334
XI-4 Net assets at start of year$13,296,473
XI-5 Net unrealized gains (losses) on investments$311,189
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,951,996

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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