Civic Intelligence

Great Basin College Foundation

990 • Fiscal year 2022 • EIN 94-2861434

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 04, 2022

PO Box 2056Elko, NV 89803

(775) 753-2246

Siviq Scores

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

Liabilities / Assets

41st percentile

0.11x

Higher debt load relative to assets than 41% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

70th percentile

0.55x

Higher debt load relative to revenue than 70% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

2nd percentile

-180%

Higher net margin than 2% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

17th percentile

$60,664

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

2nd percentile

-29%

Faster asset growth than 2% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

5th percentile

-58%

Faster revenue growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$13,766,452

Down $5,756,453 (-29%) from 2021

Net Assets

Down

$12,295,535

Down $6,227,209 (-34%) from 2021

Liabilities

Up

$1,470,917

Up $470,756 (+47%) from 2021

Revenue

Down

$2,685,144

Down $3,741,246 (-58%) from 2021

Expenses

Up

$7,525,307

Up $3,155,010 (+72%) from 2021

Net Income

Down

-$4,840,163

Down $6,896,256 (-335%) from 2021

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $5,465,252Liabilities 2011: $12,371Net Assets 2011: $5,452,8812011Assets 2012: $6,503,002Liabilities 2012: $37,601Net Assets 2012: $6,465,4012012Assets 2013: $6,743,150Liabilities 2013: $7,468Net Assets 2013: $6,735,6822013Assets 2014: $7,548,094Liabilities 2014: $8,626Net Assets 2014: $7,539,4682014Assets 2015: $8,640,533Liabilities 2015: $19,532Net Assets 2015: $8,621,0012015Assets 2017: $9,102,574Liabilities 2017: $42,552Net Assets 2017: $9,060,0222017Assets 2018: $9,778,214Liabilities 2018: $18,993Net Assets 2018: $9,759,2212018Assets 2019: $17,119,182Liabilities 2019: $61,306Net Assets 2019: $17,057,8762019Assets 2020: $16,514,544Liabilities 2020: $47,893Net Assets 2020: $16,466,6512020Assets 2021: $19,522,905Liabilities 2021: $1,000,161Net Assets 2021: $18,522,7442021Assets 2022: $13,766,452Liabilities 2022: $1,470,917Net Assets 2022: $12,295,5352022Assets 2023: $11,700,411Liabilities 2023: $48,952Net Assets 2023: $11,651,4592023Assets 2024: $12,672,550Liabilities 2024: $148,061Net Assets 2024: $12,524,4892024Assets 2025: $13,631,208Liabilities 2025: $72,279Net Assets 2025: $13,558,9292025

Highlighted filing

2022

Assets$13,766,452
Liabilities$1,470,917
Net Assets$12,295,535

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2011: $592,2622011Revenue 2012: $1,839,921Expenses 2012: $783,616Net Income 2012: $1,056,3052012Expenses 2013: $760,4642013Revenue 2014: $547,634Expenses 2014: $566,206Net Income 2014: -$18,5722014Revenue 2015: $976,776Expenses 2015: $611,001Net Income 2015: $365,7752015Revenue 2017: $1,611,573Expenses 2017: $930,485Net Income 2017: $681,0882017Revenue 2018: $1,677,955Expenses 2018: $978,756Net Income 2018: $699,1992018Revenue 2019: $8,343,129Expenses 2019: $1,044,474Net Income 2019: $7,298,6552019Revenue 2020: $614,373Expenses 2020: $1,205,598Net Income 2020: -$591,2252020Revenue 2021: $6,426,390Expenses 2021: $4,370,297Net Income 2021: $2,056,0932021Revenue 2022: $2,685,144Expenses 2022: $7,525,307Net Income 2022: -$4,840,1632022Revenue 2023: $1,345,241Expenses 2023: $2,517,450Net Income 2023: -$1,172,2092023Revenue 2024: $1,204,768Expenses 2024: $1,287,704Net Income 2024: -$82,9362024Revenue 2025: $1,423,440Expenses 2025: $1,352,712Net Income 2025: $70,7282025

Highlighted filing

2022

Revenue$2,685,144
Expenses$7,525,307
Net Income-$4,840,163
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 4, 2022
Return Version
2021v4.0
Gross Receipts
$2,685,144
Mission and Program Overview

Mission

Great basin college foundation cultivates, stewards, and manages resources from our communities for the benefit of the students and programs of great basin college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$18,522,744$12,295,535▼ $6,227,209
Investments Other Securities-$8,940,194-
Savings and Temporary Cash Investments-$3,039,265-
Cash and Non-Interest-Bearing Accounts$5,410,981$1,290,687▼ $4,120,294
Pledges and Grants Receivable$4,442,721$308,103▼ $4,134,618
Investments in Publicly Traded Securities$9,668,997$115,761▼ $9,553,236
Total Assets$19,522,905$13,766,452▼ $5,756,453
Other Assets Total$206$72,442▲ $72,236
Liabilities
Other Liabilities-$1,470,917-
Accounts Payable and Accrued Expenses$1,000,161--
Total Liabilities$1,000,161$1,470,917▲ $470,756
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,522,744$12,295,535▼ $6,227,209
Total Liabilities and Net Assets / Fund Balance$19,522,905$13,766,452▼ $5,756,453

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$8,940,194--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$9,786,666$147,906▲ $128,510$490,083$9,055,954
2020$7,600,532$160,680▲ $2,375,758-$9,786,666
2019$7,996,246$95,415▼ $136,669$20,384$7,600,532
2018$7,802,200$135,785▲ $241,816$14,064$7,996,246
2017$7,314,472$126,726▲ $554,698$14,719$7,802,200
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Geneil WhiteFnd. Director (thFT$60,664$60,664

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,224,741
Program Service Revenue
$0
Investment Income
$1,460,403
Other Revenue
$0
All Other Contributions
$1,124,008
Change in Net Assets
$-4,840,163

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
Other Non Cash Contri Table1$25,000Fair Market Value (FMV)
Other Non Cash Contri Table1$329Fair Market Value (FMV)
Total Noncash Contributions2$25,329-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,685,144
Revenue Not Reported on Form 990
$-1,368,710
Total Revenue per Audited Statements
$1,316,434
Total Revenue per Form 990
$2,685,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,128,688
Other Expenses$396,619
Total Fundraising Expense$88,052
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$7,128,688--$7,128,688
Fees for Service Investment Mgmnt Fees-$256,461-$256,461
Other Expenses--$88,052$88,052
Fees for Services Accounting-$31,400-$31,400
Information Technology-$10,774-$10,774
Office Expenses-$8,407-$8,407
Advertising-$1,525-$1,525
Total Functional Expenses$7,128,688$308,567$88,052$7,525,307

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,543,636
Expenses per Audited Statements$7,525,307
Total Expenses per Form 990$7,525,307
Expenses Not Reported on Form 990$18,329
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Great Basin CollegeElko, NVGovCharitable$7,103,688
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
Due to Great Basin College$1,470,917
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The board of regents of the nevada system of higher education (nshe) are considered members of the corporation. The great basin college foundation is related to the great basin college, which is part of nshe.

Form 990, Page 6, Part VI, Line 7A

The regents, as members of the corporation, accept each trustee within a year of nomination to the board.

Form 990, Page 6, Part VI, Line 7B

The regents, as members of the corporation, approve changes to the foundation's governing documents.

Form 990, Page 6, Part VI, Line 11B

The foundation director provided an electronic copy of the form 990 to all trustees for their review prior to filing, with instructions for review and an invitation to contact staff with questions. The form 990 will be reviewed and approved by the finance committee chair and the board of trustees chair.

Form 990, Page 6, Part VI, Line 12C

Annual completion of questionnaire by trustees.

Form 990, Page 6, Part VI, Line 15A

Compensation is based on salary schedules of nshe, of which great basin college is a part. The foundation is an organization related to great basin college. Great basin college employes the foundation's staff. A portion of the payroll expenses is reimbursed by the foundation.

Form 990, Page 6, Part VI, Line 15B

Compensation is based on salary schedules of nshe, of which great basin college is a part. The foundation is an organization related to great basin college. Great basin college employes the foundation's staff. A portion of the payroll expenses is reimbursed by the foundation.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Great Basin College Foundation
EIN
94-2861434
Phone
7757532246
Address
PO BOX 2056, ELKO, NV 89803

Signing Officer

Name
James Glennon
Title
Treasurer
Phone
7753272382
Signed
2022-10-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karrie Barrett
Formed
1982
Legal Domicile
Nv
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
18

Preparer

Firm
Houldsworth Russo & Company Pc
Address
8675 S EASTERN AVE STE A, LAS VEGAS, NV 89123-2839
Preparer
Jessica P Sayles
Phone
7022699992
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

PRIOR YEAR ROUNDING -7

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The foundation holds two pools of endowment accounts. One account is a required maintenance endowment that is invested and managed separately from other endowments. All other endowments held by the foundation, most of which are restricted for scholarship and program funding, are combined in an internal investment pool. The corpus balances of all endowment accounts held by the foundation totaled 4,819,070. Additional contributions from donors that are restricted for these uses are classified as nonexpendable or expendable net assets in the foundation's records, depending on the nature of the donor restriction. The foundation has used a total return policy to determine the amount of expendable accounts available on an annual basis. This method conservatively evaluated overall return on endowment investments, including interest and dividend income, as well as realized and unrealized gains or losses on the investments. The amount distributed from each endowment account was historically determined with a view toward preserving endowment assets while honoring the spirit of the donor's gift. The foundation adopted a policy that distributions from endowment accounts for program purposes will not exceed 4.5% annually. Net appreciation (depreciation) in endowment accounts, which totaled 2,951,808 is shown as part of expendable net position in the statement of net position. Nevada revised statute ("nrs") section 164.667 states that "subject to the intent of a donor expressed in the gift instrument and to subsection 4, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution." the foundation invests the majority of their endowments with nshe. Receivables from investments held by nshe totaled 72,236. See note 2 for the investments held by the nshe - internal investment pool.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.6$0.07$13.6$1.42$1.35$0.07
2024Detailed filing. Detailed filing data is available for this year.$12.7$0.15$12.5$1.20$1.29$0.08
2023Detailed filing. Detailed filing data is available for this year.$11.7$0.05$11.7$1.35$2.52$1.17
2022Detailed filing. Detailed filing data is available for this year.$13.8$1.47$12.3$2.69$7.53$4.84
2021Detailed filing. Detailed filing data is available for this year.$19.5$1.00$18.5$6.43$4.37$2.06
2020Detailed filing. Detailed filing data is available for this year.$16.5$0.05$16.5$0.61$1.21$0.59
2019Detailed filing. Detailed filing data is available for this year.$17.1$0.06$17.1$8.34$1.04$7.30
2018Detailed filing. Detailed filing data is available for this year.$9.78$0.02$9.76$1.68$0.98$0.70
2017Detailed filing. Detailed filing data is available for this year.$9.10$0.04$9.06$1.61$0.93$0.68
2015Detailed filing. Detailed filing data is available for this year.$8.64$0.02$8.62$0.98$0.61$0.37
2014Detailed filing. Detailed filing data is available for this year.$7.55$0.01$7.54$0.55$0.57$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.74$0.01$6.74$0.76
2012Summary only. Only limited summary data is available for this year.$6.50$0.04$6.47$1.84$0.78$1.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.47$0.01$5.45$0.59