Civic Intelligence

Gadsden State Cardinal Foundation

990 • Fiscal year 2023 • EIN 46-0730246

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 15, 2024

Organization Profilewww.gadsdenstate.edu/foundation/home
PO Box 8265Gadsden, AL 35902

(256) 239-2901

Siviq Scores

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

Liabilities / Assets

26th percentile

0.00x

Higher debt load relative to assets than 26% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

36th percentile

0.03x

Higher debt load relative to revenue than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

15th percentile

-20%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

43rd percentile

1.9%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-59%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$1,224,787

Up $22,475 (+1.9%) from 2022

Net Assets

Up

$1,219,837

Up $22,475 (+1.9%) from 2022

Liabilities

Flat

$4,950

Flat from 2022

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin15th percentile

Revenue

Down

$159,064

Down $232,217 (-59%) from 2022

Expenses

Up

$191,477

Up $63,924 (+50%) from 2022

Net Income

Down

-$32,413

Down $296,141 (-112%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$1.5M$1.0M$500K$0Assets 2013: $385Liabilities 2013: $02013Assets 2014: $385Liabilities 2014: $02014Assets 2015: $91,731Liabilities 2015: $02015Assets 2016: $197,854Liabilities 2016: $02016Assets 2017: $283,590Liabilities 2017: $02017Assets 2018: $261,554Liabilities 2018: $0Net Assets 2018: $261,5542018Assets 2019: $329,682Liabilities 2019: $0Net Assets 2019: $329,6822019Assets 2020: $361,652Liabilities 2020: $0Net Assets 2020: $361,6522020Assets 2021: $1,117,236Liabilities 2021: $0Net Assets 2021: $1,117,2362021Assets 2022: $1,202,312Liabilities 2022: $4,950Net Assets 2022: $1,197,3622022Assets 2023: $1,224,787Liabilities 2023: $4,950Net Assets 2023: $1,219,8372023Assets 2024: $1,395,998Liabilities 2024: $7,150Net Assets 2024: $1,388,8482024

Highlighted filing

2023

Assets$1,224,787
Liabilities$4,950
Net Assets$1,219,837
Open 2023 Filing

Operations Trend

Revenue Growth4th percentile

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

$1.0M$500K$0-$500KRevenue 2013: $2,136Expenses 2013: $1,751Net Income 2013: $3852013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $92,889Expenses 2015: $1,543Net Income 2015: $91,3462015Revenue 2016: $94,990Expenses 2016: $11,265Net Income 2016: $83,7252016Revenue 2017: $124,414Expenses 2017: $39,090Net Income 2017: $85,3242017Revenue 2018: $43,810Expenses 2018: $65,846Net Income 2018: -$22,0362018Revenue 2019: $102,362Expenses 2019: $35,355Net Income 2019: $67,0072019Revenue 2020: $76,835Expenses 2020: $44,865Net Income 2020: $31,9702020Revenue 2021: $793,352Expenses 2021: $37,768Net Income 2021: $755,5842021Revenue 2022: $391,281Expenses 2022: $127,553Net Income 2022: $263,7282022Revenue 2023: $159,064Expenses 2023: $191,477Net Income 2023: -$32,4132023Revenue 2024: $226,927Expenses 2024: $173,110Net Income 2024: $53,8172024

Highlighted filing

2023

Revenue$159,064
Expenses$191,477
Net Income-$32,413
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 15, 2024
Return Version
2022v5.0
Gross Receipts
$217,378
Mission and Program Overview

Mission

To provide financial aid for students attending Gadsden State Community College

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$878,382$902,341▲ $23,959
Savings and Temporary Cash Investments$146,234$219,313▲ $73,079
Cash and Non-Interest-Bearing Accounts$177,580$103,133▼ $74,447
Intangible Assets$116--
Total Assets$1,202,312$1,224,787▲ $22,475
Liabilities
Accounts Payable and Accrued Expenses$4,950$4,950→ $0
Total Liabilities$4,950$4,950→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,074,120$1,112,105▲ $37,985
Net Assets Without Donor Restrictions$123,242$107,732▼ $15,510
Total Net Assets Fund Balance$1,197,362$1,219,837▲ $22,475
Total Liabilities and Net Assets / Fund Balance$1,202,312$1,224,787▲ $22,475
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Tommie Goggans IIIPresident
Eric CrabtreeVice-President
Bess YarbroughDirector
David HooksDirector
Davis VarnerDirector
Eric EllisDirector
Heather NewDirector
Jonathon TangDirector
Lynn KingDirector
Ricky RayDirector
Scott ShoffnerDirector
Theresa HulganDirector
Tim BurgessDirector
Trudy LoweDirector
Gerri LangleySecretary
Bryan DorsettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$118,081
Program Service Revenue
$0
Investment Income
$42,003
Other Revenue
$-1,020
All Other Contributions
$118,081
Change in Net Assets
$-32,413

Audited Revenue Reconciliation

Revenue per Audited Statements
$159,064
Revenue Not Reported on Form 990
$54,887
Total Revenue per Audited Statements
$213,951
Total Revenue per Form 990
$159,064
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$171,474
Other Expenses$20,003
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$171,474--$171,474
Fees for Services Accounting-$15,050-$15,050
Office Expenses-$3,628-$3,628
Insurance-$743-$743
Other Expenses$394--$394
Fees for Services Other$188--$188
Total Functional Expenses$172,056$19,421$0$191,477

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$191,477
Total Expenses per Audited Statements$191,477
Total Expenses per Form 990$191,477
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,020
Professional Fundraising Fees$0
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
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is presented to the board for approval before submitting”

Conflict of interest policy compliance Part VI line 12C

“Board members sign a Conflict of Interest Statement”

Form 990 availability to public Part VI line 18

“Form 990 is available to the public upon request.”

Governing documents etc available to public Part VI line 19

“Documents are available to the general public at the Foundations office.”

Filing and Contact Details

Filer

Filer Name
Gadsden State Cardinal Foundation
EIN
46-0730246
Address
PO Box 8265, Gadsden, AL 35902

Signing Officer

Name
Tommie Goggans III
Title
President
Phone
2054478543
Signed
2024-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommie Goggans III
Formed
2012
Legal Domicile
Al
Voting Board Members
22
Independent Board Members
22
Employees
0
Volunteers
25

Preparer

Firm
Markham and Company LLC
Address
P O Box 39, Weaver, AL 36277
Preparer
Annette M Markham
Phone
2562392901
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Electronic transfer fees: $188”

List of other expenses Part IX line 24E

“Other Expenses: $0”

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IRS990/OtherExpensesGrp/TotalAmt0394
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Tommie Goggans III
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0324356
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0109307
IRS990/PYInvestmentIncomeAmt043123
IRS990/PYOtherExpensesAmt018246
IRS990/PYOtherRevenueAmt023802
IRS990/PYRevenuesLessExpensesAmt0263728
IRS990/PYTotalExpensesAmt0127553
IRS990/PYTotalRevenueAmt0391281
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-32413
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0159064
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0146234
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0219313
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0118081
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0324356
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0677980
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt073124
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt084861
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01278402
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0118081
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0324356
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0677980
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt073124
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt084861
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01278402
IRS990ScheduleA/TotalSupportAmt01278402
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0191477
IRS990ScheduleD/NetUnrealizedGainsInvstAmt054887
IRS990ScheduleD/RevenueNotReportedAmt054887
IRS990ScheduleD/RevenueSubtotalAmt0159064
IRS990ScheduleD/TotalExpensesPerForm990Amt0191477
IRS990ScheduleD/TotalRevenuePerForm990Amt0159064
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0213951
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0191477
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0171474
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships awarded to students of Gadsden State Community College
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0NA
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt072
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0Cash Value
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Foundation has written criteria for each scholarship. A scholarship committee reviews applicants sent from the college for qualification and chooses the recipient.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1The Foundation provides financial assistance to students of Gadsden State Community College in the form of scholarships awarded through the college.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1General Explanation Attachment
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is presented to the board for approval before submitting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members sign a Conflict of Interest Statement
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are available to the general public at the Foundations office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Electronic transfer fees: $188
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Other Expenses: $0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalAssetsGrp/BOYAmt01202312
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IRS990/TotalContributionsAmt0118081
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt019421
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0172056
IRS990/TotalFunctionalExpensesGrp/TotalAmt0191477
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04950
IRS990/TotalLiabilitiesEOYAmt04950
IRS990/TotalLiabilitiesGrp/BOYAmt04950
IRS990/TotalLiabilitiesGrp/EOYAmt04950
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01197362
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01219837
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0172056
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07070
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033913
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0159064
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01202312
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01224787
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt022
IRS990/VotingMembersIndependentCnt022
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,224,787
Liabilities
$4,950
Net assets
$1,219,837
Revenue
$159,064
Expenses
$191,477
Net income
-$32,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.40$0.01$1.39$0.23$0.17$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.22$0.00$1.22$0.16$0.19$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$0.39$0.13$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.12$0.00$1.12$0.79$0.04$0.76
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.08$0.04$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.10$0.04$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.26$0.00$0.26$0.04$0.07$0.02
2017Summary only. Only limited summary data is available for this year.$0.28$0.00$0.12$0.04$0.09
2016Summary only. Only limited summary data is available for this year.$0.20$0.00$0.09$0.01$0.08
2015Summary only. Only limited summary data is available for this year.$0.09$0.00$0.09$0.00$0.09
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00