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Nonprofit · EIN 76-0680471

PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD

Tax-exempt · GALVESTON, TX 77550

Financials

$19.1M$11.6M2023$312.7M$25.8M2024
Revenue Expenses · by fiscal year end
Financials of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$312,657,414$25,828,349$286,829,065$412,025,898$8,521,091$403,504,807
December 31, 2023990$19,121,503$11,625,776$7,495,727$123,555,922$1,694,747$121,861,175
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$292,533,380
Program service revenue
$0
Investment income
$20,124,034
Net gain from sales of assets
$10,983,556
Other revenue
$0

Expenses

Grants and similar amounts paid
$24,162,479
Compensation of officers, directors and key employees
$203,616
Other salaries and wages
$218,647
Salaries, compensation and benefits (total)
$557,249
Professional fundraising fees
$0
Legal fees
$133,669
Travel
$25,082
Program services (functional)
$24,739,845
Management and general (functional)
$1,088,504

Balance sheet and other

Total assets, start of year
$123,555,922
Total assets, end of year
$412,025,898
Total liabilities, end of year
$8,521,091
Net assets, end of year
$403,504,807
Publicly traded securities
$309,270,490
Net assets without donor restrictions
$403,504,807
Gross receipts
$738,259,973
Employees
4
Volunteers
9
Year formed
1980
State of legal domicile
TX

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
Bert BagleyExecutive Director
Officer
40$162,763$40,853
Danica PremirelliDirector
Trustee or director
40$96,320$0
Bill Glenn IIIChair, Director
Trustee or director, Officer
5$0$0
Ramona Webb HolbrookSecretary, Director
Trustee or director
5$0$0
Armin CantiniDirector
Trustee or director
5$0$0
Edie HarringtonDirector
Trustee or director
5$0$0
Matthew HayDirector
Trustee or director
5$0$0
Donna LangDirector
Trustee or director
5$0$0
Jere PedersonDirector
Trustee or director
5$0$0
Kelly SchwabDirector
Trustee or director
5$0$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensationOther / benefits
Bert BagleyExecutive Director
Officer
40$176,000$41,440
Randall K RobinsonCFO
Officer
40$114,500$22,938
Jay SimsChair, Director
Trustee or director, Officer
5$0$0
Ramona Webb HolbrookSecretary, Director
Trustee or director
5$0$0
Roland Louis BassettDirector
Trustee or director
5$0$0
Edie HarringtonDirector
Trustee or director
5$0$0
Matthew HayDirector
Trustee or director
5$0$0
Linda MignereyDirector
Trustee or director
5$0$0
E Jerome PedersonDirector
Trustee or director
5$0$0
Danica PremirelliDirector
Trustee or director
5$0$0

Address and contacts

Address (IRS master file)
2200 MARKET ST STE 750, GALVESTON, TX 77550-1551
Principal officer (990 for 2024)
Bert R Bagley, 2200 Market Street, Galveston, TX 77550
Signed the 990
Bill Glenn, Board Chair
Phone
(409) 443-5577
Return prepared by
Blazek & Vetterling

Mission

The mission of the Endowment is to hold, administer and distribute funds exclusively to and in aid of the religious, charitable and educational purposes of Moody Methodist Church.

990 for the year ended December 31, 2024

Program accomplishments

  • 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.
    Expenses $24,739,845 · grants $24,162,479

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
76-0680471
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization (509(a)(3))
Donations deductible (Pub 78)
Supporting organization of unknown type
Exempt since
2001
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Religion-related (X21)
Assets (IRS master file)
$412,025,898
Income (IRS master file)
$738,259,973

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$312,657,414$25,828,349$412,025,898XML
990December 2023$19,121,503$11,625,776$123,555,922XML
990December 2022$12,563,184$9,842,261$104,208,828IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 76-0680471).

Questions about PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD

What is the EIN of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD?
The employer identification number (EIN) of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD is 76-0680471.
Is PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
Are donations to PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
Which annual return does PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD?
The 990 for the year ended December 31, 2024 names Bert R Bagley.
Who are the officers and directors of PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD?
The 990 for the year ended December 31, 2024 lists 10 people; 2 received compensation from the organization, the highest $162,763 (Bert Bagley, Executive Director).
How much revenue does PERMANENT ENDOWMENT FUND OF THE MOODY MEMORIAL FIRST UNITED METHOD have?
On its 990 for the year ended December 31, 2024 it reported revenue of $312,657,414, expenses of $25,828,349 and total assets of $412,025,898 at year end.

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