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Underwood Foundation is a private corporation based in HOUSTON, TX. The foundation received its IRS ruling in 1997. The principal officer is Lynda K Underwood. It holds total assets of $17M. Annual income is reported at $19.1M. Total assets have grown from $2.7M in 2011 to $16.8M in 2023. The foundation is governed by 5 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. According to available records, Underwood Foundation has made 10 grants totaling $2.7M, with a median grant of $225K. Annual giving has decreased from $1.9M in 2022 to $875K in 2023. Individual grants have ranged from $25K to $550K, with an average award of $273K. The foundation has supported 5 unique organizations. Grant recipients are concentrated in Texas. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Underwood Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 10 grants. Its grantmaking reaches organizations primarily in TX.
Underwood Foundation has distributed a total of $2.7M across 10 grants. The median grant size is $225K, with an average of $273K. Individual grants have ranged from $25K to $550K.
Underwood Foundation typically selects its grantees rather than accepting unsolicited proposals.
Underwood Foundation is headquartered in HOUSTON, TX.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Duncan K Underwood | DIRECTOR | $0 | $0 | N/A |
| Catherine Underwood Murray | PRESIDENT | $0 | $0 | N/A |
| Lynda K Underwood | VP/SECR/DIR | $0 | $0 | N/A |
| M Patric Mascorro | ASST SECR/TREAS | $0 | $0 | N/A |
| David M Underwood Jr | DIRECTOR | $0 | $0 | N/A |
Total Giving
$937K
Total Assets
$16.8M
Fair Market Value
$18.6M
Net Worth
$16.8M
Grants Paid
$875K
Contributions
N/A
Net Investment Income
$554K
Distribution Amount
$876K
Total Grants
10
Total Giving
$2.7M
Average Grant
$273K
Median Grant
$225K
Unique Recipients
5
Most Common Grant
$200K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Episcopal High SchoolScholarship | Bellaire, TX | $550K | 2023 |
| Faith Academy BellvilleOPERATIONS AND EXPANSION PLAN | Bellville, TX | $250K | 2023 |
| American Leadership ForumScholarship | Houston, TX | $50K | 2023 |
| Crosswalk CenterOPERATIONS AND EXPANSION PLAN | Houston, TX | $25K | 2023 |
| Dallas Theological SeminaryScholarship | Dallas, TX | $225K | 2022 |