Galveston College Foundation

Nonprofit profile at a glance

EIN
760512266
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Galveston, TX, USA
Phone
4099441303
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$2,304,716
Expenses
$726,009
Assets
$30,927,613
Liabilities
$140,553

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

People named in this filing

  • S Benjamin Shabot (Chair)
  • James Clark (Vice Chair)
  • Kyle McFatridge (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation supports Galveston College through fund-raising. The mission is to support Galveston high school graduates through an earned scholarship program to obtain their first two years of college debt-free regardless of ability to pay.

What it reported doing in 2024

The Foundation generates philanthropic support for the Galveston Community College District (the College), primarily emphasizing Universal Access. The Universal Access program provides scholarships to high school graduates in Galveston, Texas, regardless of their ability to pay, encouraging universal access to higher education. In addition to Universal Access, the Foundation solicits, invests, and manages funds to support the College's educational activities.

Operating model

Revenue model
Investment-supported. 69% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.5%; rating input score 55
  • Program expense ratio: 69.1%; rating input score 69
  • Fundraising efficiency: $81.96 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 42.6; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 54.5% of revenue deployed · 69.1% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $502K in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.