Welborn-payne Endowment Trust

LUBBOCK, TX EIN: 75-6435671

The Welborn-Payne Endowment Trust is a private foundation based in Lubbock, Texas. Established in 1998, it operates as an independent foundation with a single employee and maintains its administrative office at 1401 Avenue Q, Lubbock, TX 79401-3819. The foundation is managed through Prosperity Bank as trustee.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$74.1M

+99.2% YoY

Annual Giving

$1.8M

+20.3% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$96K

+20.3% YoY

Under IRS private-foundation payout rules, Welborn-payne Endowment Trust reported a distributable amount of $2.6M for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The Welborn-Payne Endowment Trust supports local artists in Lubbock and surrounding areas. Beyond arts funding, the foundation's grantmaking encompasses Education, Philanthropy, Voluntarism & Grantmaking, and Human Services.

Grantmaking

The foundation demonstrates consistent support for arts and culture initiatives. Recent grant activity includes:

Grant Range

of $27,500. Historical grant awards have ranged from $1,376 to $295,000.

Average Grant

of $27,500. Historical grant awards have ranged from $1,376 to $295,000.

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Geographic Focus

Where this funder awards grants

The foundation primarily funds organizations in Texas and Colorado, with a particular emphasis on the Lubbock area and surrounding regions.

Grant Distribution by State

Texas $8.0M (99%)

Colorado $96K (1%)

States

Colorado Texas

Cities

Colorado SpringsHoustonLubbock

Financial History

Multi-year comparison from IRS filings

As of the most recent tax filing (2023-2024):

Total Assets: $74,083,578
Total Annual Giving: $1,831,020

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$74,083,578	$37,187,127	$36,889,578
Revenue	$39,161,277	$2,249,343	$2,483,681
Expenses	$2,264,826	$1,951,794	$2,226,354
Qualifying Distributions	$1,925,172	$1,584,571	$1,841,843
Net Investment Income	$4,613,708	$1,785,853	$1,844,690
Distributable Amount	$2,634,364	$1,612,210	$1,582,505

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

93 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include First United Methodist Church ($200,000), South Plains Food Bank ($200,000), Lubbock Public Media ($150,000).

Recipient	Purpose	Amount
BALLET LUBBOCK LUBBOCK, TX	TO SUPPORT PRE-PROFESSIONAL DANCE EDUCATION AND PERFORMANCES	$120,000
BRIDGES TO LIFE HOUSTON, TX	TO ASSET WITH THE REHABILITATION OF INMATES	$10,000
CASA OF THE SOUTH PLAINS INC LUBBOCK, TX	TO SUPPORT THE MISSION OF CASA IN RECRUITING AND TRAINING VOLUNTEERS TO SERVE AS ADVOCATES FOR ABUSED AND NEGLECTED CHILDREN	$50,000
COMMUNITY HEALTH CENTER OF LUBBOCK LUBBOCK, TX	TO ASSIST WITH PROVIDING HEALTH CARE SERVICES TO THE NEEDY	$100,000
FIRST UNITED METHODIST CHURCH LUBBOCK, TX	TO SUPPORT THE MISSION OF THE METHODIST CHURCH	$200,000
FIRST UNITED METHODIST CHURCH-EVERLIVING CHURCH TRUST LUBBOCK, TX	RELIGIOUS	$3,108
HIGH POINT VILLAGE LUBBOCK, TX	TO PROVIDE FUNDS FOR THE INTELLECTUALLY DISABLED.	$60,000
LUBBOCK AREA UNITED WAY LUBBOCK, TX	TO SUPPORT THE ORGANIZATIONS ASSOCIATED WITH UNITED WAY	$30,000
LUBBOCK ARTS ALLIANCE LUBBOCK, TX	TO SUPPORT AND FOSTER THE CREATION, UNDERSTANDING AND ENJOYMENT OF THE ARTS	$30,000
LUBBOCK MEALS ON WHEELS LUBBOCK, TX	TO PROVIDE MEALS FOR INDIVIDUALS	$102,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
PROSPERITY BANK	TRUSTEE	10	$185,554

Contact Information

Telephone: 806-767-7000
EIN: 75-6435671

Frequently Asked Questions

What does Welborn-payne Endowment Trust fund?

How do I apply for a grant from Welborn-payne Endowment Trust?

The foundation demonstrates consistent support for arts and culture initiatives. Recent grant activity includes: • **2023**: $30,000 grant to The Charles Adams Studio Project (Lubbock, TX) • **2021**: $25,000 grant to The Charles Adams Studio Project (Lubbock, TX) Grant amounts typically range from $25,000 to $30,000, with an average grant size of $27,500. Historical grant awards have ranged from $1,376 to $295,000.

Where does Welborn-payne Endowment Trust make grants?

The foundation primarily funds organizations in Texas and Colorado, with a particular emphasis on the Lubbock area and surrounding regions.

What size grants does Welborn-payne Endowment Trust award?

In 2024, Welborn-payne Endowment Trust awarded 19 grants totaling $1.8M — an average of about $96K per grant, based on its IRS Form 990 filings.

How much is Welborn-payne Endowment Trust required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Welborn-payne Endowment Trust reported a distributable amount of $2.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.