Civic Intelligence

Porter-Gaud Foundation

990 • Fiscal year 2023 • EIN 45-2701202

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 02, 2024

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

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

6th percentile

0.01x

Higher debt load relative to revenue than 6% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

96th percentile

79%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

87th percentile

$586,610

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

88th percentile

39%

Faster asset growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

160%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$38,788,810

Up $10,917,630 (+39%) from 2022

Net Assets

Up

$38,705,731

Up $10,834,551 (+39%) from 2022

Liabilities

Up

$83,079

Up $83,079 from 2022

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin96th percentile

Revenue

Up

$12,134,735

Up $7,469,155 (+160%) from 2022

Expenses

Up

$2,550,980

Up $998,556 (+64%) from 2022

Net Income

Up

$9,583,755

Up $6,470,599 (+208%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth88th 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

2023

Assets$38,788,810
Liabilities$83,079
Net Assets$38,705,731
Open 2023 Filing

Operations Trend

Revenue Growth96th 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

2023

Revenue$12,134,735
Expenses$2,550,980
Net Income$9,583,755
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 2, 2024
Return Version
2022v5.0
Gross Receipts
$12,297,287
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$18,361,812$20,529,893▲ $2,168,081
Pledges and Grants Receivable$1,500,713$8,785,952▲ $7,285,239
Cash and Non-Interest-Bearing Accounts$3,900,356$4,847,398▲ $947,042
Prepaid Expenses and Deferred Charges$30,899$279,767▲ $248,868
Total Assets$27,871,180$38,788,810▲ $10,917,630
Other Assets Total$4,077,400$4,345,800▲ $268,400
Liabilities
Accounts Payable and Accrued Expenses-$83,079-
Total Liabilities$0$83,079▲ $83,079
Net Assets / Fund Balance
Net Assets With Donor Restrictions$15,004,231$25,091,183▲ $10,086,952
Net Assets Without Donor Restrictions$12,866,949$13,614,548▲ $747,599
Total Net Assets Fund Balance$27,871,180$38,705,731▲ $10,834,551
Total Liabilities and Net Assets / Fund Balance$27,871,180$38,788,810▲ $10,917,630

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$32,769--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$23,291,193$974,266▲ $1,759,206-$25,631,655
2021$25,389,484$1,781,024▼ $3,523,315-$23,291,193
2020$20,286,602$486,791▲ $4,973,008-$25,389,484
2019$19,143,582$367,109▲ $1,099,835-$20,286,602
2018$18,201,490$217,144▲ $1,063,978-$19,143,582
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Craig StewartExecutive DiFT$192,335$192,335

Board Members and Trustees

NameTitle
Richard StarChair
Craig StewartExecutive Director
Brittany Middleton OgikeTrustee
Courtney CavatoniTrustee
Elizabeth SaalTrustee
Granger Osborne JrTrustee
Greer Polansky VaughanTrustee
John ReganTrustee
Jonathan CenturinoTrustee
Kennett R KendallTrustee
Lauren NetterTrustee
Mark CongdonTrustee
Michael HandlerTrustee
Nathaniel HoweTrustee
Richard MorseTrustee
Anthony MallawaaratchyEx Officio
D Dubose Egleston JrEx Officio
Jessica CutlerEx Officio
Kate Osborne AdamsEx Officio
Stephen BergerEx Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$11,195,363
Program Service Revenue
$0
Investment Income
$779,023
Other Revenue
$160,349
All Other Contributions
$11,195,363
Change in Net Assets
$9,583,755

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 Traded6$43,542Fair Market Value (FMV) on Contribution Date
Total Noncash Contributions6$43,542-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,642,046
Other Expenses$908,934
Total Fundraising Expense$908,934
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,642,046--$1,642,046
Payments to Affiliates--$501,618$501,618
Conferences and Meetings--$127,805$127,805
Fees for Services Other--$54,171$54,171
Office Expenses--$34,063$34,063
Other Expenses--$26,301$26,301
All Other Expenses--$12,146$12,146
Travel--$7,707$7,707
Fees for Services Accounting--$1,400$1,400
Total Functional Expenses$1,642,046$0$908,934$2,550,980
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Porter-gaud SchoolCharleston, SC501c3Assistance to School$1,642,046
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$273,471
Fundraising Direct Expenses$125,246
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
All Other$107,326$107,326$27,158$80,168
Concessions at$101,088$101,088$41,935$59,153
Total Events$270,403$270,403$116,762$153,641
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Craig Stewart
Title
Executive Director
Phone
8434024690
Signed
2024-01-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Stewart
Formed
2011
Legal Domicile
Sc
Voting Board Members
14
Independent Board Members
14
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.”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$38,788,810
Liabilities
$83,079
Net assets
$38,705,731
Revenue
$12,134,735
Expenses
$2,550,980
Net income
$9,583,755
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