Civic Intelligence

Grsp Foundation

990 • Fiscal year 2021 • EIN 85-0868798

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization ProfileWWW.GRSP.ORG
15 E Montgomery CrossroadsSavannah, GA 31406

(770) 449-4921

Siviq Scores

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

Liabilities / Assets

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

43rd percentile

0.16x

Higher debt load relative to revenue than 43% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

96th percentile

84%

Higher net margin than 96% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets16th percentile

Assets

$17,809,064

No earlier filing loaded for comparison.

Net Assets

$17,625,470

No earlier filing loaded for comparison.

Liabilities

$183,594

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin96th percentile

Revenue

$1,128,818

No earlier filing loaded for comparison.

Expenses

$175,500

No earlier filing loaded for comparison.

Net Income

$953,318

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$15M$10M$5.0M$0Assets 2021: $17,809,064Liabilities 2021: $183,594Net Assets 2021: $17,625,4702021Assets 2022: $15,605,177Liabilities 2022: $183,594Net Assets 2022: $15,421,5832022Assets 2023: $15,931,307Liabilities 2023: $0Net Assets 2023: $15,931,3072023Assets 2024: $16,653,277Liabilities 2024: $137,109Net Assets 2024: $16,516,1682024

Highlighted filing

2021

Assets$17,809,064
Liabilities$183,594
Net Assets$17,625,470
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0Revenue 2021: $1,128,818Expenses 2021: $175,500Net Income 2021: $953,3182021Revenue 2022: $1,060,324Expenses 2022: $599,644Net Income 2022: $460,6802022Revenue 2023: $941,389Expenses 2023: $615,259Net Income 2023: $326,1302023Revenue 2024: $1,285,672Expenses 2024: $563,702Net Income 2024: $721,9702024

Highlighted filing

2021

Revenue$1,128,818
Expenses$175,500
Net Income$953,318
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$1,667,407
Mission and Program Overview

Mission

To support and carry out funcations that are essential and integral to the accomplishment of the exempt purposes of rotary.to support the georgia rotary student program by engaging in fund management, fundraising, and grant-making, all to support the rotary's charitable student programs.

To support and carry out funcations that are essential and integral to the accomplishment of the exempt purposes of rotary. To support the georgia rotary student program by engaging in fund management, fundraising, and grant-making, all to support the rotary's charitable student programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$17,480,806-
Savings and Temporary Cash Investments-$328,258-
Total Assets$0$17,809,064▲ $17,809,064
Liabilities
Accounts Payable and Accrued Expenses-$183,594-
Total Liabilities$0$183,594▲ $183,594
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$12,438,820-
Net Assets Without Donor Restrictions-$5,186,650-
Total Net Assets Fund Balance$0$17,625,470▲ $17,625,470
Total Liabilities and Net Assets / Fund Balance$0$17,809,064▲ $17,809,064

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021-$579,350--$12,438,820
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Joseph JonesPresident
Beth SikesDirector
Blake McburneyDirector
Jim DrakeDirector
Terry AdkinsDirector
Eleni BafasDirector, Se
Hamsa ThotaDirector, Tr
Revenue and Support

Revenue Composition

Contributions and Grants
$579,350
Program Service Revenue
$0
Investment Income
$549,468
Other Revenue
$0
Change in Net Assets
$953,318

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,080,618
Revenue Not Reported on Financial Statements
$48,200
Revenue Not Reported on Form 990
$806,501
Total Revenue per Audited Statements
$1,887,119
Total Revenue per Form 990
$1,128,818
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$127,300
Other Expenses$48,200
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$127,300--$127,300
Fees for Services Management-$48,200-$48,200
Total Functional Expenses$127,300$48,200$0$175,500

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$175,500
Expenses per Audited Statements$127,300
Total Expenses per Audited Statements$127,300
Expenses Not Reported on Financial Statements$48,200
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Georgia Rotary Student ProgramSavannah, GA-Provide Scholarships$127,300
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
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
No
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 990 will be distributed to all members of the governing body before filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Grsp Foundation Inc
EIN
85-0868798
Phone
7704494921
Address
15 E MONTGOMERY CROSSROADS, SAVANNAH, GA 31406

Signing Officer

Name
Joseph Jones
Title
President
Phone
7704494921
Signed
2022-05-16

Organization Details

Principal Officer
Joseph Jones
Formed
2020
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
116

Preparer

Firm
Hancock Askew & Co Llp
Address
100 RIVERVIEW DR, SAVANNAH, GA 31404
Preparer
Susan G Corderman Clifford
Phone
9122348243
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To support and carry out funcations that are essential and integral to the accomplishment of the exempt purposes of rotary. To support the georgia rotary student program by engaging in fund management, fundraising, and grant-making, all to support the rotary's charitable student programs.”

Form 990, Part XI, Line 9

“Transfer from program 15,865,651”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“During the fiscal year, the georgia rotary student program ein 58-6032415, a related organization, transferred its endowment fund in the amount of 11,859,470 to the grsp foundation, inc. The endowment funds are donor restricted in perpetuity. Income from the endowment fund is used to support the georgia rotary student program, an organization that provides scholarships to foreign college students to attend a college or university in georgia for one academic school year.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DURING THE FISCAL YEAR, THE GEORGIA ROTARY STUDENT PROGRAM EIN 58-6032415, A RELATED ORGANIZATION, TRANSFERRED ITS ENDOWMENT FUND IN THE AMOUNT OF 11,859,470 TO THE GRSP FOUNDATION, INC. THE ENDOWMENT FUNDS ARE DONOR RESTRICTED IN PERPETUITY. INCOME FROM THE ENDOWMENT FUND IS USED TO SUPPORT THE GEORGIA ROTARY STUDENT PROGRAM, AN ORGANIZATION THAT PROVIDES SCHOLARSHIPS TO FOREIGN COLLEGE STUDENTS TO ATTEND A COLLEGE OR UNIVERSITY IN GEORGIA FOR ONE ACADEMIC SCHOOL YEAR.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT AND CARRY OUT FUNCATIONS THAT ARE ESSENTIAL AND INTEGRAL TO THE ACCOMPLISHMENT OF THE EXEMPT PURPOSES OF ROTARY. TO SUPPORT THE GEORGIA ROTARY STUDENT PROGRAM BY ENGAGING IN FUND MANAGEMENT, FUNDRAISING, AND GRANT-MAKING, ALL TO SUPPORT THE ROTARY'S CHARITABLE STUDENT PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE DISTRIBUTED TO ALL MEMBERS OF THE GOVERNING BODY BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRANSFER FROM PROGRAM 15,865,651
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07704494921
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRSP FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0GRSP
ReturnHeader/Filer/EIN0850868798
ReturnHeader/Filer/PhoneNum07704494921
ReturnHeader/Filer/USAddress/AddressLine1Txt015 E MONTGOMERY CROSSROADS
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAVANNAH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd031404
ReturnHeader/PreparerPersonGrp/PhoneNum09122348243
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN G CORDERMAN CLIFFORD
ReturnHeader/ReturnTs02022-05-16T16:37:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSEPH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JONES
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,809,064
Liabilities
$183,594
Net assets
$17,625,470
Revenue
$1,128,818
Expenses
$175,500
Net income
$953,318
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.7$0.14$16.5$1.29$0.56$0.72
2023Detailed filing. Detailed filing data is available for this year.$15.9$0.00$15.9$0.94$0.62$0.33
2022Detailed filing. Detailed filing data is available for this year.$15.6$0.18$15.4$1.06$0.60$0.46
2021Detailed filing. Detailed filing data is available for this year.$17.8$0.18$17.6$1.13$0.18$0.95