Welborn-payne Endowment Trust
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
19
+0.0% YoY
Avg Grant Size
$96K
+20.3% YoY
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
Cities
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
| 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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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