The Permanent Endowment Fund (PEF) is a supporting organization of Moody Methodist Church located in Galveston, Texas. Established in 1943 following an estate gift from Libbie Shearn Moody, who left 25 percent of her estate to create the endowment, the PEF holds, administers, and distributes funds to advance religious, charitable, educational, and missional purposes. The organization operates as a 501(c)(3) public charity and has earned a Four-Star rating for strong financial accountability and transparency.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$412.0M
+233.5% YoY
Annual Giving
$24.2M
+133.9% YoY
Grant Count
119
+11.2% YoY
Avg Grant Size
$203K
+110.3% YoY
Mission & Focus Areas
Mission: Advancing the care of people in the Name and Spirit of Jesus Christ
The PEF provides grants to nonprofit organizations aligned with its mission across six primary funding areas:
- Education & Education Support Services
- Religious Mission & Ministry
- Health & Wellness Services
- Self-Reliance Services
- Crisis Support Services
- Essential Needs
The organization funds operating budgets, project/programs, capital requests, and tuition assistance requests.
Grantmaking
Grant Range
** $40,000 to $6,500,000+
Review Cycle
throughout the year. Applicants can schedule meetings to discuss potential grant requests and must complete an eligibility quiz. The organization provides guidance on developing competitive applications and setting SMART goals.
How to Apply
** The PEF operates a grant management system with multiple grant cycles throughout the year. Applicants can schedule meetings to discuss potential grant requests and must complete an eligibility quiz. The organization provides guidance on developing competitive applications and setting SMART goals.
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Geographic Focus
Where this funder awards grants
The PEF funds requests serving people in Galveston, Texas, as well as organizations serving people around the world. Primary grantmaking focuses on Texas, Georgia, and Tennessee.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $123.6 million to $124 million
- Total Revenue: $19.1 million
- Total Expenses: $11.6 million
- Total Liabilities: $1.69 million
- Staff Size: 4 to 6 individuals
As of 2022:
- Annual Revenue: $12.6 million
- Annual Giving: $8.9 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $412,025,898 | $123,555,922 | $104,208,828 |
| Revenue | $312,657,414 | $19,121,503 | $12,563,184 |
| Expenses | $25,828,349 | $11,625,776 | $9,842,261 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $20,124,034 | $4,366,415 | $4,328,899 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
4 open opportunities from Permanent Endowment Fund of
Grant Cycle 1 - Religious Mission and Ministry Grant
Permanent Endowment Fund of
Amount
Varies
Deadline
Rolling / Open
Grant Cycle 2 - Health and Wellness Services Grant
Permanent Endowment Fund of
Amount
Varies
Deadline
Rolling / Open
Grant Cycle 2 - Self-Reliance Services Grant
Permanent Endowment Fund of
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Executive Director: Rev. Bert Bagley
- Board of Directors: Nine-member board elected by Moody Methodist Church Conference for four-year terms, comprised of church congregants responsible for investment management and grant decisions
The founding board included Roland Bassett, Ward Benson Jr., John Eckel, M. Joe Helms, Leonard Mosele, Carl Robertson, and Rev. Asbury Lenox.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Bill Glenn III | Chair, Director | 5 | — |
| Ramona Webb Holbrook | Secretary, Director | 5 | — |
| Armin Cantini | Director | 5 | — |
| Edie Harrington | Director | 5 | — |
| Matthew Hay | Director | 5 | — |
| Donna Lang | Director | 5 | — |
| Jere Pederson | Director | 5 | — |
| Danica Premirelli | Director | 40 | $96,320 |
| Kelly Schwab | Director | 5 | — |
| Bert Bagley | Executive Director | 40 | $162,763 |
Contact Information
Address: 2200 Market Street, Suite 750, Galveston, TX 77550-1551
Phone: 409-443-5577
Website: www.moodypef.org / www.pefgalveston.org
EIN: 76-0680471
Subject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Permanent Endowment Fund of on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities