Grace L Woodward Memorial Endowment Trust

Analysis

Grace L Woodward Memorial Endowment Trust is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in November 1997, 29 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Grace L Woodward Memorial Endowment Trust reported income of $1.2m and spending of $1.9m, spending 158% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $730k to $1.2m (+62%), an average of +13% a year. The sharpest change came in the year to May 2021, when income rose by 43%. Over the whole period it spent 182% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace L Woodward Memorial Endowment Trust sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Reasons for Hope ($1.2m), Monadnock Center for Violence Prevention Inc ($1.2m) and Union Bridge Volunteer Fire Co Inc ($1.2m).

At year end it held assets of $45.3m against liabilities of $0, net assets of $45.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.