Civic Intelligence

Governor'S Scholars Program Inc Office of the Governor State Capit

990 • Fiscal year 2022 • EIN 61-1026274

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 06, 2023

112 Consumer LaneFrankfort, KY 40601

(502) 209-4420

Siviq Scores

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

Liabilities / Assets

64th percentile

0.16x

Higher debt load relative to assets than 64% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

37th percentile

0.04x

Higher debt load relative to revenue than 37% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

16th percentile

-17%

Higher net margin than 16% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

85th percentile

$154,700

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

8th percentile

-19%

Faster asset growth than 8% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

37th percentile

-2.0%

Faster revenue growth than 37% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$475,523

Down $110,380 (-19%) from 2021

Net Assets

Down

$399,677

Down $181,008 (-31%) from 2021

Liabilities

Up

$75,846

Up $70,628 (+1354%) from 2021

Revenue

Down

$2,143,848

Down $44,358 (-2.0%) from 2021

Expenses

Up

$2,498,016

Up $86,225 (+3.6%) from 2021

Net Income

Down

-$354,168

Down $130,583 (-58%) from 2021

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $555,590Liabilities 2010: $6,246Net Assets 2010: $549,3442010Assets 2011: $450,287Liabilities 2011: $1,190Net Assets 2011: $449,0972011Assets 2012: $266,830Liabilities 2012: $1,573Net Assets 2012: $265,2572012Assets 2013: $275,598Liabilities 2013: $8,186Net Assets 2013: $267,4122013Assets 2014: $358,586Liabilities 2014: $5,373Net Assets 2014: $353,2132014Assets 2015: $346,649Liabilities 2015: $5,788Net Assets 2015: $340,8612015Assets 2016: $385,612Liabilities 2016: $5,175Net Assets 2016: $380,4372016Assets 2017: $377,965Liabilities 2017: $4,601Net Assets 2017: $373,3642017Assets 2018: $347,895Liabilities 2018: $17,139Net Assets 2018: $330,7562018Assets 2019: $299,911Liabilities 2019: $12,083Net Assets 2019: $287,8282019Assets 2020: $729,855Liabilities 2020: $4,372Net Assets 2020: $725,4832020Assets 2021: $585,903Liabilities 2021: $5,218Net Assets 2021: $580,6852021Assets 2022: $475,523Liabilities 2022: $75,846Net Assets 2022: $399,6772022Assets 2023: $302,801Liabilities 2023: $54,492Net Assets 2023: $248,3092023Assets 2024: $302,044Liabilities 2024: $78,097Net Assets 2024: $223,9472024

Highlighted filing

2022

Assets$475,523
Liabilities$75,846
Net Assets$399,677

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,213,3702010Expenses 2011: $2,238,1132011Revenue 2012: $2,197,444Expenses 2012: $2,381,284Net Income 2012: -$183,8402012Revenue 2013: $2,336,411Expenses 2013: $2,334,256Net Income 2013: $2,1552013Revenue 2014: $2,539,268Expenses 2014: $2,453,467Net Income 2014: $85,8012014Revenue 2015: $2,512,295Expenses 2015: $2,524,647Net Income 2015: -$12,3522015Revenue 2016: $2,501,255Expenses 2016: $2,461,679Net Income 2016: $39,5762016Revenue 2017: $2,445,108Expenses 2017: $2,452,181Net Income 2017: -$7,0732017Revenue 2018: $2,295,370Expenses 2018: $2,337,978Net Income 2018: -$42,6082018Revenue 2019: $2,397,728Expenses 2019: $2,440,656Net Income 2019: -$42,9282019Revenue 2020: $1,989,021Expenses 2020: $1,551,366Net Income 2020: $437,6552020Revenue 2021: $2,188,206Expenses 2021: $2,411,791Net Income 2021: -$223,5852021Revenue 2022: $2,143,848Expenses 2022: $2,498,016Net Income 2022: -$354,1682022Revenue 2023: $2,387,806Expenses 2023: $2,741,669Net Income 2023: -$353,8632023Revenue 2024: $2,866,778Expenses 2024: $2,891,140Net Income 2024: -$24,3622024

Highlighted filing

2022

Revenue$2,143,848
Expenses$2,498,016
Net Income-$354,168
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 6, 2023
Return Version
2022v5.0
Gross Receipts
$2,143,848
Mission and Program Overview

Mission

To provide high school seniors with opportunities for growth in academics and social areas, as well as personal growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$578,420$379,155▼ $199,265
Accounts Receivable$24$22,289▲ $22,265
Land, Buildings, and Equipment, Net$4,980$3,425▼ $1,555
Prepaid Expenses and Deferred Charges$2,479--
Total Assets$585,903$475,523▼ $110,380
Other Assets Total-$70,654-
Liabilities
Other Liabilities-$70,654-
Accounts Payable and Accrued Expenses$5,218$5,192▼ $26
Total Liabilities$5,218$75,846▲ $70,628
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$580,685$399,677▼ $181,008
Total Net Assets Fund Balance$580,685$399,677▼ $181,008
Total Liabilities and Net Assets / Fund Balance$585,903$475,523▼ $110,380

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$70,654--
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$2,143,776
Program Service Revenue
$0
Investment Income
$72
Other Revenue
$0
Change in Net Assets
$-354,168

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,143,848
Total Revenue per Audited Statements
$2,143,848
Total Revenue per Form 990
$2,143,848
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,956,563
Salaries, Compensation, and Employee Benefits$541,453
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$163,976$158,409-$322,385
All Other Expenses$150,843$9,638-$160,481
Current Officers, Directors, Trustees, and Key Employees$86,900$67,800-$154,700
Other Expenses$80,493--$80,493
Insurance$51,111$17,683-$68,794
Office Expenses$21,839$16,050-$37,889
Payroll Taxes$19,064$17,753-$36,817
Occupancy-$30,185-$30,185
Pension Plan Contributions-$27,551-$27,551
Travel$11,957$1,642-$13,599
Information Technology$120$9,184-$9,304
Fees for Services Accounting-$4,500-$4,500
Depreciation Depletion-$2,614-$2,614
Advertising-$1,594-$1,594
Total Functional Expenses$2,133,413$364,603$0$2,498,016

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,498,016
Total Expenses per Audited Statements$2,498,016
Total Expenses per Form 990$2,498,016
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$70,654
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

The form 990 will be reviewed by the finance committee of the board and by senior management prior to its filing. The governing board will then be notified that the return is complete and available for review if they deem it necessary in the business office.

Form 990, Page 6, Part VI, Line 19

Copies are provided at the administrative offices upon request.

Filing and Contact Details

Filer

Filer Name
GOVERNOR'S SCHOLARS PROGRAM INC
EIN
61-1026274
Phone
5022094420
Address
112 CONSUMER LANE, FRANKFORT, KY 40601

Signing Officer

Name
Aris Cedeno
Title
Executive Director
Phone
5022094420
Signed
2023-09-06

Organization Details

Principal Officer
Aris Cedeno
Formed
1983
Legal Domicile
Ky
Voting Board Members
34
Independent Board Members
34
Employees
10

Preparer

Firm
Kelley Galloway Smith Goolsby Psc
Address
1200 CORPORATE COURT PO BOX 990, ASHLAND, KY 41105-0990
Preparer
Lori F Dearfield CPA
Phone
6063291811
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.08$0.22$2.87$2.89$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.30$0.05$0.25$2.39$2.74$0.35
2022Detailed filing. Detailed filing data is available for this year.$0.48$0.08$0.40$2.14$2.50$0.35
2021Detailed filing. Detailed filing data is available for this year.$0.59$0.01$0.58$2.19$2.41$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$1.99$1.55$0.44
2019Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.29$2.40$2.44$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.35$0.02$0.33$2.30$2.34$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.37$2.45$2.45$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.39$0.01$0.38$2.50$2.46$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.35$0.01$0.34$2.51$2.52$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.01$0.35$2.54$2.45$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.28$0.01$0.27$2.34$2.33$0.00
2012Summary only. Only limited summary data is available for this year.$0.27$0.00$0.27$2.20$2.38$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.00$0.45$2.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.01$0.55$2.21