The Underwood Foundation
The Underwood Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Houston, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $17.0M in total assets. In 2024, it awarded 1 grant totaling $950K. Net investment income was $1.2M.
Key facts about The Underwood Foundation
- EIN
- 76-0528032
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $950,000
- Grants made (2024)
- 1
- Average grant
- $950,000
- Median grant
- $950,000
- Total assets
- $17,038,313
- Primary geography
- Texas (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
How The Underwood Foundation gives
- In 2024 it paid out 103% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with The Underwood Foundation
- How to evaluate The Underwood Foundation as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$17.0M
+1.7% YoY
Annual Giving
$950K
+8.6% YoY
Grant Count
1
-75.0% YoY
Avg Grant Size
$950K
+334.3% YoY
Under IRS private-foundation payout rules, The Underwood Foundation reported a distributable amount of $924K for 2024 — the minimum it must pay out in qualifying distributions.
About The Underwood Foundation
Based on IRS filings
The Underwood Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Houston, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $17.0M in total assets. In 2024, it awarded 1 grant totaling $950K. Net investment income was $1.2M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 1 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $17,038,313 | $16,754,572 | $17,084,964 |
| Revenue | $1,295,838 | $615,959 | $681,400 |
| Expenses | $1,010,143 | $936,534 | $1,015,419 |
| Qualifying Distributions | $950,000 | $875,000 | $925,000 |
| Net Investment Income | $1,235,695 | $554,425 | $617,330 |
| Distributable Amount | $924,104 | $876,353 | $947,004 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
8 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Episcopal High School ($950,000).
| Recipient | Purpose | Amount |
|---|---|---|
| EPISCOPAL HIGH SCHOOL Bellaire, TX | Scholarship | $950,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Catherine Underwood Murray | President | — | — |
| Lynda K Underwood | VP/Secr/Dir | — | — |
| M Patric Mascorro | Asst Secr/Treas | — | — |
| David M Underwood Jr | Director | — | — |
| Duncan K Underwood | Director | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Underwood Foundation?
The Underwood Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Houston, TX. It holds $17.0M in total assets as of 2024.
How large is The Underwood Foundation?
As of 2024, The Underwood Foundation holds $17.0M in total assets with $1.3M in annual revenue. It awarded 1 grant totaling $950K in 2024.
Where does The Underwood Foundation operate?
The Underwood Foundation has awarded grants in Texas.
What size grants does The Underwood Foundation award?
In 2024, The Underwood Foundation awarded 1 grant totaling $950K — an average of about $950K per grant, based on its IRS Form 990 filings.
How much is The Underwood Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Underwood Foundation reported a distributable amount of $924K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Underwood Foundation's EIN?
The Underwood Foundation's EIN (Employer Identification Number) is 76-0528032. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.