GALTNEY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: GALTNEY FOUNDATION (EIN 76-0489358)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-05-02
IRS object ID: 202521229349101917
Schema version: 2024v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-05-02T11:14:25-05:00	ReturnTs
Tax Period End	2024-12-31	TaxPeriodEndDt
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	760489358	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE GALTNEY FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	GALT	BusinessNameControlTxt
Phone	7139325350	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2229 SAN FELIPE SUITE 1200	AddressLine1Txt
City	HOUSTON	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	77019	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JOSEPH MOORE	PersonNm
Person Title	TREASURER	PersonTitleTxt
Phone	7139325350	PhoneNum
Signature	2025-05-02	SignatureDt

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (1)	IRSResponsiblePrtyInfoCurrInd
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$16,372	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$547	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$547	InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$547	TotalRevAndExpnssAmt
Total Net Invst Incm	$547	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$0	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$0	CompOfcrDirTrstDsbrsChrtblAmt
Taxes Rev And Expnss	$6	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$6	TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$6	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$6	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$0	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$0	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$6	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$6	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$0	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$541	ExcessRevenueOverExpensesAmt
Net Investment Income	$541	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$15,831	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$16,372	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$16,372	SavAndTempCashInvstEOYFMVAmt
Total Assets BOY	$15,831	TotalAssetsBOYAmt
Total Assets EOY	$16,372	TotalAssetsEOYAmt
Total Assets EOYFMV	$16,372	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Capital Stock BOY	$0	CapitalStockBOYAmt
Capital Stock EOY	$0	CapitalStockEOYAmt
Additional Paid In Capital BOY	$0	AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY	$0	AdditionalPaidInCapitalEOYAmt
Retained Earning BOY	$15,831	RetainedEarningBOYAmt
Retained Earning EOY	$16,372	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$15,831	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$16,372	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$15,831	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$16,372	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$15,831	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$541	ExcessRevenueOverExpensesAmt
Other Increases	$0	OtherIncreasesAmt
Subtotal	$16,372	SubtotalAmt
Other Decreases	$0	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$16,372	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$8	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$8	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$8	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$0	EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce	$0	ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld	$0	BackupWithholdingWithheldAmt
Total Payments And Credits	$0	TotalPaymentsAndCreditsAmt
Es Penalty	$0	EsPenaltyAmt
Tax Due	$8	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	0	LegislativePoliticalActyInd
More Than100 Spent	0	MoreThan100SpentInd
Form1120 POL Filed	0	Form1120POLFiledInd
Section4955 Organization Tax	$0	Section4955OrganizationTaxAmt
Section4955 Managers Tax	$0	Section4955ManagersTaxAmt
Tax Reimbursed	$0	TaxReimbursedAmt
Activities Not Previously Rpt	0	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	0	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	0	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (1)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (1)	AtLeast5000InAssetsInd
Org Report Or Register State	TX	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (1)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	0	PrivateOperatingFoundationInd
New Substantial Contributors	0	NewSubstantialContributorsInd
Own Controlled Entity	0	OwnControlledEntityInd
Donor Advised Fund	0	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (1)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	WILLIAM F GALTNEY JR	IndividualWithBooksNm
Phone	7139325350	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	2229 SAN FELIPE SUITE 1200	AddressLine1Txt
City	HOUSTON	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	77019	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	0	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	0	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	0	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	0	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	0	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	0	TransferAstDisqualifiedPrsnInd
Payment To Government Official	0	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	0	UncorrectedPriorActsInd
Undistributed Income PY	0	UndistributedIncomePYInd
Business Holdings	0	BusinessHoldingsInd
Jeopardy Investments	0	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	0	UncorrectedPYJeopardyInvstInd
Influence Legislation	0	InfluenceLegislationInd
Influence Election	0	InfluenceElectionInd
Grants To Individuals	0	GrantsToIndividualsInd
Grants To Organizations	0	GrantsToOrganizationsInd
Noncharitable Purpose	0	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
WILLIAM F GALTNEY JR
2229 SAN FELIPE SUITE 1200	HOUSTON	TX	77019	PRESIDENT	0.00	$0	$0	$0
JOSEPH MOORE
2229 SAN FELIPE SUITE 1200	HOUSTON	TX	77019	TREASURER	0.00	$0	$0	$0
ROBERT GALTNEY
2229 SAN FELIPE SUITE 1200	HOUSTON	TX	77019	DIRECTOR	0.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	THE GALTNEY FOUNDATION IS NOT PRESENTLY CARRYING ON ANY ACTIVITIES. IN ACCOMPLISHMENT OF ITS EXEMPT PURPOSES, THE FOUNDATION MAKES CONTRIBUTIONS TO ORGANIZATIONS WHICH ARE DESCRIBED IN SECTION 501C OF THE INTERNAL REVENUE CODE OF 1986 HEREINAFTER ALL SECTION REFERENCES ARE TO THE CODE OTHER THAN A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509A. $25,000 OF CONTRIBUTIONS WERE MADE IN 2019, NONE IN 2020, $2,000 IN 2021, NONE IN 2022, NONE IN 2023, AND NONE IN 2024. THE FOUNDATION EXPECTS TO DERIVE SUBSTANTIALLY ALL, IF NOT ALL, OF ITS FINANCIAL SUPPORT FROM INTER VIVOS CONTRIBUTIONS AND POSSIBLE BEQUESTS FROM WILLIAM F. GALTNEY, JR.	Description1Txt
Expenses1	$0	Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$16,127	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$16,127	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$16,127	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$242	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$15,885	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$794	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$794	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$8	TaxBasedOnInvestmentIncomeAmt
Total Tax	$8	TotalTaxAmt
Distributable Before Adj	$786	DistributableBeforeAdjAmt
Recoveries Qualfied Distri	$0	RecoveriesQualfiedDistriAmt
Distributable Before Ded	$786	DistributableBeforeDedAmt
Deduction From Distributable	$0	DeductionFromDistributableAmt
Distributable As Adjusted	$786	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$0	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$0	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$786	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Total For Prior Years	$0	TotalForPriorYearsAmt
Excess Distribution Cyov Yr5	$24,159	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr3	$1,144	ExcessDistributionCyovYr3Amt
Total Excess Distribution Cyov	$25,303	TotalExcessDistributionCyovAmt
Qualifying Distributions	$0	QualifyingDistributionsAmt
Applied To Year1	$0	AppliedToYear1Amt
Applied To Prior Years	$0	AppliedToPriorYearsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$0	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus	$786	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$786	ExcessDistributionCyovAppCYAmt
Total Corpus	$24,517	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax	$0	PriorYearDeficiencyOrTaxAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3	$0	CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5	$23,373	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$1,144	ExcessDistriCyovToNextYrAmt
Excess From Year3	$1,144	ExcessFromYear3Amt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

Field	Value	IRS element (for citing)
Recipient Person	JOSEPH MOORE	RecipientPersonNm

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	2229 SAN FELIPE SUITE 1200	AddressLine1Txt
City	HOUSTON	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	77019	ZIPCd

Field	Value	IRS element (for citing)
Recipient Phone	7139325305	RecipientPhoneNum
Recipient Email Address	MOORE@GALTNEY.COM	RecipientEmailAddressTxt
Form And Info And Materials	APPLICATION SHOULD INCLUDE THE AMOUNT AND PURPOSE OF THE GRANT REQUESTED AS WELL AS GENERAL INFORMATION ON THE APPLICANT, OPERATING BUDGET FOR THE PROGRAM AND PROOF OF 501C3 STATUS.	FormAndInfoAndMaterialsTxt
Submission Deadlines	BY NOVEMBER 1 OF ANY CALENDAR YEAR	SubmissionDeadlinesTxt
Restrictions On Awards	NONE	RestrictionsOnAwardsTxt

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$0	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$547	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$0	UnrelatedBusinessTaxblIncmAmt
Exclusion	$0	ExclusionAmt
Related Or Exempt Function Incm	$547	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$547	TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Field	Value	IRS element (for citing)
Line Number	3	LineNumberTxt
Relationship Statement	FOUNDATION INVESTMENTS GENERATE CASH FOR GRANTS.	RelationshipStatementTxt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	0	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	0	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	0	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	0	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	0	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	0	ReimbursementArrangementsInd
Loans Or Loan Guarantees	0	LoansOrLoanGuaranteesInd
Performance Of Services Etc	0	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	0	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	0	RelationshipsNonchrtblEOInd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	FEDERAL EXCEISE TAX	CategoryTxt
Amt	$6	Amt
Net Investment Income	$6	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$0	DisbursementsCharitablePrpsAmt