Gvec Charitable Foundation

Nonprofit profile at a glance

EIN
453420216
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Gonzales, TX, USA
Phone
8308571200
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$411,884
Expenses
$412,718
Assets
$180,601
Liabilities
$2,924

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

Leadership & pay

3 people listed

Executive titles in this filing

  • SEAN ALVAREZ (VICE PRESIDENT)
  • GARY KORN (PRESIDENT)

Highest reported compensation

  • SEAN ALVAREZ (VICE PRESIDENT): $584,953 total reported compensation
  • GARY KORN (PRESIDENT): $446,600 total reported compensation
  • CEASON BARNICK (SECRETARY/TREASURER): $313,175 total reported compensation

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

Overview

Mission

To provide funding assistance to local non-profit groups and civic organizations for community development and improvement projects and provide assistance for low income individuals within the guadalupe valley electric cooperative service area.

What it reported doing in 2024

To provide assistance to needy individuals with their utility bills and through donations to local non-profit groups and civic organizations. During 2024, 186 individuals and 21 not for profit organization or governmental entities received assistance from the foundation.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 64
  • Accountability: 18
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99%; rating input score 99
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.5%; rating input score 99; 60th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 45.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 99% of revenue deployed · 98.8% of spending went to programs
  • Governance: 0 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $408K in reported program spending
  • Leadership: top reported pay $585K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 21 filed related-organization links
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.