John G Kenedy Jr Charitable Trust - Mineral Estate Trust

Nonprofit profile at a glance

EIN
746334106
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
San Antonio, TX, USA
Phone
2102204436
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Named Trusts N.E.C.
Affiliation
Christianity

Reported finances

Revenue
$8,173,858
Expenses
$8,651,163
Assets
$159,120,905
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

1 person listed

Highest reported compensation

  • FROST BANK TRUSTEE (SHARON SHIRLEY, ADMINISTRATOR): $1,027,988 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Under item 16, section 2 of the will of elena s. Kenedy, the trust was created to benefit the catholic diocese of corpus christi, convent academy of the incarnate word, spohn hospital, our lady of the lake university, and pax christi institute. The purposes include religious, charitable, scientific, literary or educational within section 501(c)(3).

What it reported doing in 2024

Support of charitable organizations named in the organizing documents

Operating model

Revenue model
Investment-supported. 69% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 90% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 72
  • Accountability: 30
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 18.39; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 11.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
  • Governance: 0 of 1 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.2M in reported program spending
  • Leadership: top reported pay $1M · 1 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 25/100.