Civic Intelligence

Porter-Gaud Foundation

990 • Fiscal year 2016 • EIN 45-2701202

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 07, 2016

Organization ProfileWWW.PORTERGAUD.EDU
300 Albemarle RdCharleston, SC 29407

(843) 556-3620

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

11th percentile

0.03x

Higher debt load relative to revenue than 11% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

87th percentile

34%

Higher net margin than 87% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

83rd percentile

$343,333

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

56th percentile

3.3%

Faster asset growth than 56% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

20th percentile

-11%

Faster revenue growth than 20% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$17,234,042

Up $546,246 (+3.3%) from 2015

Net Assets

Up

$17,155,846

Up $577,953 (+3.5%) from 2015

Liabilities

Down

$78,196

Down $31,707 (-29%) from 2015

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin87th percentile

Revenue

Down

$3,025,126

Down $393,026 (-11%) from 2015

Expenses

Up

$2,006,015

Up $568,679 (+40%) from 2015

Net Income

Down

$1,019,111

Down $961,705 (-49%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2012: $11,315,116Liabilities 2012: $72,451Net Assets 2012: $11,242,6652012Assets 2013: $12,395,083Liabilities 2013: $76,917Net Assets 2013: $12,318,1662013Assets 2014: $14,805,976Liabilities 2014: $106,634Net Assets 2014: $14,699,3422014Assets 2015: $16,687,796Liabilities 2015: $109,903Net Assets 2015: $16,577,8932015Assets 2016: $17,234,042Liabilities 2016: $78,196Net Assets 2016: $17,155,8462016Assets 2017: $19,131,942Liabilities 2017: $546,629Net Assets 2017: $18,585,3132017Assets 2018: $22,838,163Liabilities 2018: $221,894Net Assets 2018: $22,616,2692018Assets 2019: $22,540,960Liabilities 2019: $117,203Net Assets 2019: $22,423,7572019Assets 2020: $23,831,844Liabilities 2020: $663,643Net Assets 2020: $23,168,2012020Assets 2021: $28,975,027Liabilities 2021: $1,460Net Assets 2021: $28,973,5672021Assets 2022: $27,871,180Liabilities 2022: $0Net Assets 2022: $27,871,1802022Assets 2023: $38,788,810Liabilities 2023: $83,079Net Assets 2023: $38,705,7312023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2016

Assets$17,234,042
Liabilities$78,196
Net Assets$17,155,846
Open 2016 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2012: $980,399Expenses 2012: $797,195Net Income 2012: $183,2042012Expenses 2013: $843,6312013Revenue 2014: $1,551,060Expenses 2014: $1,154,616Net Income 2014: $396,4442014Revenue 2015: $3,418,152Expenses 2015: $1,437,336Net Income 2015: $1,980,8162015Revenue 2016: $3,025,126Expenses 2016: $2,006,015Net Income 2016: $1,019,1112016Revenue 2017: $2,316,517Expenses 2017: $2,104,107Net Income 2017: $212,4102017Revenue 2018: $4,615,904Expenses 2018: $1,096,740Net Income 2018: $3,519,1642018Revenue 2019: $2,123,195Expenses 2019: $2,737,993Net Income 2019: -$614,7982019Revenue 2020: $1,830,033Expenses 2020: $1,619,325Net Income 2020: $210,7082020Revenue 2021: $3,156,665Expenses 2021: $1,700,441Net Income 2021: $1,456,2242021Revenue 2022: $4,665,580Expenses 2022: $1,552,424Net Income 2022: $3,113,1562022Revenue 2023: $12,134,735Expenses 2023: $2,550,980Net Income 2023: $9,583,7552023Revenue 2024: $7,489,996Expenses 2024: $3,916,320Net Income 2024: $3,573,6762024

Highlighted filing

2016

Revenue$3,025,126
Expenses$2,006,015
Net Income$1,019,111
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 7, 2016
Return Version
2015v2.1
Gross Receipts
$3,756,918
Mission and Program Overview

Mission

The foundation is operated for the benefit of, to perform the functions of, and to carry out the purposes of, the porter academy d/b/a porter-gaud school and its affiliated entities (the "supported charities"). The foundation supports the supported charities by stimulating, receiving and granting charitable gifts to advance programs of education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,443,488$14,281,398▼ $162,090
Pledges and Grants Receivable$1,581,936$2,228,054▲ $646,118
Cash and Non-Interest-Bearing Accounts$571,125$641,285▲ $70,160
Prepaid Expenses and Deferred Charges$7,559$8,000▲ $441
Accounts Receivable$2,200$1,500▼ $700
Total Assets$16,687,796$17,234,042▲ $546,246
Other Assets Total$81,488$73,805▼ $7,683
Liabilities
Other Liabilities$81,577$75,006▼ $6,571
Accounts Payable and Accrued Expenses$27,726$3,190▼ $24,536
Deferred Revenue$600--
Total Liabilities$109,903$78,196▼ $31,707
Net Assets / Fund Balance
Unrestricted Net Assets$6,710,980$6,826,204▲ $115,224
Permanently Rstr Net Assets$5,422,398$5,503,556▲ $81,158
Temporarily Rstr Net Assets$4,444,515$4,826,086▲ $381,571
Total Net Assets Fund Balance$16,577,893$17,155,846▲ $577,953
Total Liabilities and Net Assets / Fund Balance$16,687,796$17,234,042▲ $546,246

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$14,361,911$81,158▲ $76,290-$14,234,577
2014$14,053,278$120,445▲ $433,136-$14,361,911
2013$11,805,819$483,498▲ $2,043,194-$14,053,278
2012$10,493,299$276,722▲ $1,193,820-$11,805,819
2011$10,761,522$241,093▼ $365,973-$10,493,299
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Tucker BranhamDirectorFT$143,501$143,501

Board Members and Trustees

NameTitle
Luther CochraneChair
Jim ScullyVice Chair
Charles Darby IvTrustee
Cordes Ford IvTrustee
Donna FriedmanTrustee
Keith SaulsTrustee
Laura SchaibleTrustee
Linda PorterTrustee
Lisa WeitzTrustee
Martin SkellyTrustee
D Dubose Egleston JrEx Officio
Adriane Z McavoySecretary
Doug SnyderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,249,082
Program Service Revenue
$0
Investment Income
$517,588
Other Revenue
$258,456
All Other Contributions
$2,249,082
Change in Net Assets
$1,019,111

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded13$217,352Fair Market Value (FMV) on Contribution Date
Total Noncash Contributions13$217,352-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,473,528
Total Fundraising Expense$532,487
Other Expenses$448,469
Professional Fundraising Fees$84,018
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,473,528--$1,473,528
Payments to Affiliates--$245,000$245,000
Fees for Services Professional Fundraising--$84,018$84,018
Conferences and Meetings--$81,939$81,939
Office Expenses--$65,161$65,161
Fees for Services Other--$8,458$8,458
Other Expenses--$5,979$5,979
Travel--$5,079$5,079
All Other Expenses--$2,479$2,479
Total Functional Expenses$1,473,528$0$532,487$2,006,015
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Porter-gaud SchoolCharleston, SC501c3Assistance to School$1,473,528
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$446,593
Fundraising Direct Expenses$182,856
Professional Fundraising Fees$84,018

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Parents Guild a$260,439$260,439$6,220$254,219
Parents Guild H$70,918$70,918$48,761$22,157
Total Events$446,593$446,593$182,856$263,737
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Remainder Unitrust Liabil$75,006
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A drafted copy of form 990 is provided to board members for review and approval prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“A copy of the policy is circulated annually for review and approval.”

Form 990, Page 6, Part VI, Line 15A

“Employment contracts comply with board approved budget amounts and are handled by the porter-gaud school human resources department and are signed by the porter-gaud school head of school.”

Form 990, Page 6, Part VI, Line 15B

“SAME AS 15A”

Form 990, Page 6, Part VI, Line 19

“This information is not made generally available. Requests are considered on a case-by-case basis.”

Filing and Contact Details

Filer

Filer Name
Porter-gaud Foundation
EIN
45-2701202
Phone
8435563620
Address
300 ALBEMARLE RD, CHARLESTON, SC 29407

Signing Officer

Name
Tucker Branham
Title
Director
Phone
8435563620
Signed
2016-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tucker Branham
Formed
2011
Legal Domicile
Sc
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Legare Bailey & Hinske LLC
Address
1100 QUEENSBOROUGH BLVD STE 100, MT PLEASANT, SC 29464-3626
Preparer
Benjamin G Newton CPA
Phone
8437660400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation is operated for the benefit of, to perform the functions of, and to carry out the purposes of, the porter academy d/b/a porter-gaud school and its affiliated entities (the "supported charities"). The foundation supports the supported charities by stimulating, receiving and granting charitable gifts to advance programs of education.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The school has adopted accounting for uncertainty in income taxes in its financial statements. Accordingly, management evaluates the school for any uncertain tax positions or unrecognized tax benefits or liabilities that may exist. Management does not believe that any uncertain tax positions or unrecognized tax benefits or liabilites exist as of june 30, 2016 and 2015. The school's policy is to report accrued interest related to unrecognized tax benefits, if any, as interest expense and to report penalties, if any, as other expense.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CHARITABLE REMAINDER UNITRUST LIABIL
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, MANAGEMENT EVALUATES THE SCHOOL FOR ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS OR LIABILITIES THAT MAY EXIST. MANAGEMENT DOES NOT BELIEVE THAT ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS OR LIABILITES EXIST AS OF JUNE 30, 2016 AND 2015. THE SCHOOL'S POLICY IS TO REPORT ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS, IF ANY, AS INTEREST EXPENSE AND TO REPORT PENALTIES, IF ANY, AS OTHER EXPENSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/CashGrantAmt01473528
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0PORTER-GAUD SCHOOL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,234,042
Liabilities
$78,196
Net assets
$17,155,846
Revenue
$3,025,126
Expenses
$2,006,015
Net income
$1,019,111
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$7.49$3.92$3.57
2023Detailed filing. Detailed filing data is available for this year.$38.8$0.08$38.7$12.1$2.55$9.58
2022Detailed filing. Detailed filing data is available for this year.$27.9$0.00$27.9$4.67$1.55$3.11
2021Detailed filing. Detailed filing data is available for this year.$29.0$0.00$29.0$3.16$1.70$1.46
2020Detailed filing. Detailed filing data is available for this year.$23.8$0.66$23.2$1.83$1.62$0.21
2019Detailed filing. Detailed filing data is available for this year.$22.5$0.12$22.4$2.12$2.74$0.61
2018Detailed filing. Detailed filing data is available for this year.$22.8$0.22$22.6$4.62$1.10$3.52
2017Detailed filing. Detailed filing data is available for this year.$19.1$0.55$18.6$2.32$2.10$0.21
2016Detailed filing. Detailed filing data is available for this year.$17.2$0.08$17.2$3.03$2.01$1.02
2015Detailed filing. Detailed filing data is available for this year.$16.7$0.11$16.6$3.42$1.44$1.98
2014Detailed filing. Detailed filing data is available for this year.$14.8$0.11$14.7$1.55$1.15$0.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$0.08$12.3$0.84
2012Summary only. Only limited summary data is available for this year.$11.3$0.07$11.2$0.98$0.80$0.18