Civic Intelligence

Galveston College Foundation

990 • Fiscal year 2018 • EIN 76-0512266

Sep 01, 2017 to Aug 31, 2018 • Filed on Mar 08, 2019

4015 Avenue QGalveston, TX 77550

(409) 944-1303

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$17,469,533

Flat from 2018

Net Assets

Flat

$17,469,533

Flat from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses

Revenue

Flat

$4,021,972

Flat from 2018

Expenses

Flat

$399,172

Flat from 2018

Net Income

Flat

$3,622,800

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $5,334,747Liabilities 2011: $142,410Net Assets 2011: $5,192,3372011Assets 2012: $5,296,927Liabilities 2012: $37,952Net Assets 2012: $5,258,9752012Assets 2013: $5,297,009Liabilities 2013: $0Net Assets 2013: $5,297,0092013Assets 2014: $7,808,357Liabilities 2014: $0Net Assets 2014: $7,808,3572014Assets 2015: $10,578,629Liabilities 2015: $21,379Net Assets 2015: $10,557,2502015Assets 2016: $11,457,408Liabilities 2016: $2,230Net Assets 2016: $11,455,1782016Assets 2017: $13,415,616Liabilities 2017: $43,902Net Assets 2017: $13,371,7142017Assets 2018: $17,469,533Liabilities 2018: $0Net Assets 2018: $17,469,5332018Assets 2018: $17,469,533Liabilities 2018: $0Net Assets 2018: $17,469,5332018Assets 2019: $15,333,544Liabilities 2019: $4,961Net Assets 2019: $15,328,5832019Assets 2020: $16,609,784Liabilities 2020: $1,484Net Assets 2020: $16,608,3002020Assets 2021: $20,425,906Liabilities 2021: $25,197Net Assets 2021: $20,400,7092021Assets 2022: $22,851,553Liabilities 2022: $74,793Net Assets 2022: $22,776,7602022Assets 2023: $24,122,530Liabilities 2023: $1,130Net Assets 2023: $24,121,4002023Assets 2024: $28,413,500Liabilities 2024: $47,134Net Assets 2024: $28,366,3662024

Highlighted filing

2018

Assets$17,469,533
Liabilities$0
Net Assets$17,469,533

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $407,705Expenses 2011: $735,947Net Income 2011: -$328,2422011Revenue 2012: $365,775Expenses 2012: $375,493Net Income 2012: -$9,7182012Revenue 2013: $460,421Expenses 2013: $402,072Net Income 2013: $58,3492013Revenue 2014: $2,568,490Expenses 2014: $323,274Net Income 2014: $2,245,2162014Revenue 2015: $3,642,022Expenses 2015: $342,631Net Income 2015: $3,299,3912015Revenue 2016: $813,192Expenses 2016: $275,187Net Income 2016: $538,0052016Revenue 2017: $1,499,679Expenses 2017: $321,494Net Income 2017: $1,178,1852017Revenue 2018: $4,021,972Expenses 2018: $399,172Net Income 2018: $3,622,8002018Revenue 2018: $4,021,972Expenses 2018: $399,172Net Income 2018: $3,622,8002018Revenue 2019: $965,202Expenses 2019: $2,756,961Net Income 2019: -$1,791,7592019Revenue 2020: $769,158Expenses 2020: $423,582Net Income 2020: $345,5762020Revenue 2021: $1,761,845Expenses 2021: $409,755Net Income 2021: $1,352,0902021Revenue 2022: $7,009,018Expenses 2022: $460,680Net Income 2022: $6,548,3382022Revenue 2023: $1,077,669Expenses 2023: $533,546Net Income 2023: $544,1232023Revenue 2024: $3,262,568Expenses 2024: $1,668,416Net Income 2024: $1,594,1522024

Highlighted filing

2018

Revenue$4,021,972
Expenses$399,172
Net Income$3,622,800
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Mar 8, 2019
Return Version
2017v2.3
Gross Receipts
$5,545,527
Mission and Program Overview

Mission

Exists to support and enhance the ability of galveston college to achieve its mission of advancing people's lives through lifelong learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$12,859,255$13,926,311▲ $1,067,056
Savings and Temporary Cash Investments$410,241$1,959,844▲ $1,549,603
Pledges and Grants Receivable$108,020$1,563,271▲ $1,455,251
Cash and Non-Interest-Bearing Accounts$38,100$20,107▼ $17,993
Total Assets$13,415,616$17,469,533▲ $4,053,917
Liabilities
Accounts Payable and Accrued Expenses$43,902$0▼ $43,902
Total Liabilities$43,902$0▼ $43,902
Net Assets / Fund Balance
Permanently Rstr Net Assets$8,140,125$11,294,780▲ $3,154,655
Temporarily Rstr Net Assets$4,994,401$5,948,405▲ $954,004
Unrestricted Net Assets$237,188$226,348▼ $10,840
Total Net Assets Fund Balance$13,371,714$17,469,533▲ $4,097,819
Total Liabilities and Net Assets / Fund Balance$13,415,616$17,469,533▲ $4,053,917

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,009,111--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$13,070,409$1,770,300▲ $1,252,683-$15,679,915
2016$11,226,328$830,277▲ $372,956-$13,070,409
2015$10,328,939$553,658▲ $439,923-$11,226,328
2014$7,551,116$3,147,500--$10,328,939
2013$4,525,792$2,162,933▲ $49,682-$7,551,116
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,226,757
Program Service Revenue
$0
Investment Income
$789,524
Other Revenue
$5,691
All Other Contributions
$3,226,757
Change in Net Assets
$3,622,800

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,021,972
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$526,133
Total Revenue per Audited Statements
$4,548,105
Total Revenue per Form 990
$4,021,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$295,424
Other Expenses$103,748
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$295,424--$295,424
Fees for Service Investment Mgmnt Fees-$74,151-$74,151
Fees for Services Other$13,200--$13,200
Other Expenses$643--$643
Total Functional Expenses$325,021$74,151$0$399,172

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$450,286
Expenses per Audited Statements$399,172
Total Expenses per Form 990$399,172
Expenses Not Reported on Form 990$51,114
Expenses Not Reported on Financial Statements$0
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
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
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, Part VI, Section B, Line 11B

Form 990 is reviewed by the executive committee and upon signing the return.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation documents are available on the website.

Filing and Contact Details

Filer

Filer Name
Galveston College Foundation
EIN
76-0512266
Phone
4099441303
Address
4015 AVENUE Q, GALVESTON, TX 77550

Signing Officer

Name
Garrik Addison
Title
Chairman
Phone
4099441303
Signed
2019-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maria Tripovich
Formed
1996
Legal Domicile
TX
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
0

Preparer

Firm
Carr Riggs & Ingram LLC
Address
TWO RIVERWAY 15TH FLOOR, HOUSTON, TX 77056
Preparer
Kristen Simpson
Phone
7136218090
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING 1.

Financial Statement Notes

PART X, LINE 2:

The organization accounts for uncertain tax positions, when it is more likely than not, that such an asset or a liability will be realized. As of august 31, 2018, management believes there were no uncertain tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

ROUNDING 1.

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IRS990/PartialLiquidationInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt08140125
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt011294780
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0108020
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01563271
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MARIA TRIPOVICH
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0940640
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0235969
IRS990/PYInvestmentIncomeAmt0559039
IRS990/PYOtherExpensesAmt085525
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01178185
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0321494
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01499679
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt03622800
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03226757
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0410241
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01959844
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03277871
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0979150
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0577308
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03288369
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02180166
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010302864
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0789524
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0559039
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0614858
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0329130
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0148620
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02441171
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt05691
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05691
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.32380
IRS990ScheduleA/PublicSupportPY170Pct00.43730
IRS990ScheduleA/PublicSupportTotal170Amt04127854
IRS990ScheduleA/SubstantialContributorsTotAmt06175010
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03277871
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0979150
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0577308
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03288369
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02180166
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010302864
IRS990ScheduleA/TotalSupportAmt012749726
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt013070409
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01770300
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt015679915
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0413477
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01252683
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt011226328
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0830277
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt013070409
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0258702
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0372956
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt010328939
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0553658
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt011226328
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0249025
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0439923
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt07551116
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt03147500
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt010328939
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt04525792
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02162933
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt07551116
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt037500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt049682
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt051114
IRS990ScheduleD/DonatedServicesUseFcltsAmt051114
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt051114
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0399172
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0475018
IRS990ScheduleD/OtherRevenueAmt01
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt08632849
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt14284351
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt21009111
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MOODY BANK INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1FROST BANK INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2FROST BANK TITLE V
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.62470
IRS990ScheduleD/RevenueNotReportedAmt0526133
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04021972
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX POSITIONS, WHEN IT IS MORE LIKELY THAN NOT, THAT SUCH AN ASSET OR A LIABILITY WILL BE REALIZED. AS OF AUGUST 31, 2018, MANAGEMENT BELIEVES THERE WERE NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING 1.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.37530
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt013926311
IRS990ScheduleD/TotalExpensesPerForm990Amt0399172
IRS990ScheduleD/TotalRevenuePerForm990Amt04021972
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04548105
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0450286
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0295424
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SCHOLARSHIPS & BOOKS AWARD
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0SUPPORT FOR COMMUNITY COLLEGE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0CASH
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE AND UPON SIGNING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS DISCLOSURE EXPLANATION DOCUMENTS ARE AVAILABLE ON THE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ROUNDING 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.4$0.05$28.4$3.26$1.67$1.59
2023Detailed filing. Detailed filing data is available for this year.$24.1$0.00$24.1$1.08$0.53$0.54
2022Detailed filing. Detailed filing data is available for this year.$22.9$0.07$22.8$7.01$0.46$6.55
2021Detailed filing. Detailed filing data is available for this year.$20.4$0.03$20.4$1.76$0.41$1.35
2020Detailed filing. Detailed filing data is available for this year.$16.6$0.00$16.6$0.77$0.42$0.35
2019Detailed filing. Detailed filing data is available for this year.$15.3$0.00$15.3$0.97$2.76$1.79
2018Detailed filing. Detailed filing data is available for this year.$17.5$0.00$17.5$4.02$0.40$3.62
2018Detailed filing. Detailed filing data is available for this year.$17.5$0.00$17.5$4.02$0.40$3.62
2017Detailed filing. Detailed filing data is available for this year.$13.4$0.04$13.4$1.50$0.32$1.18
2016Detailed filing. Detailed filing data is available for this year.$11.5$0.00$11.5$0.81$0.28$0.54
2015Summary only. Only limited summary data is available for this year.$10.6$0.02$10.6$3.64$0.34$3.30
2014Detailed filing. Detailed filing data is available for this year.$7.81$0.00$7.81$2.57$0.32$2.25
2013Summary only. Only limited summary data is available for this year.$5.30$0.00$5.30$0.46$0.40$0.06
2012Summary only. Only limited summary data is available for this year.$5.30$0.04$5.26$0.37$0.38$0.01
2011Summary only. Only limited summary data is available for this year.$5.33$0.14$5.19$0.41$0.74$0.33