Civic Intelligence

Great Basin College Foundation

990 • Fiscal year 2024 • EIN 94-2861434

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 31, 2024

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

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.12x

Higher debt load relative to revenue than 35% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

21st percentile

-6.9%

Higher net margin than 21% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$99,697

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

60th percentile

8.3%

Faster asset growth than 60% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-10%

Faster revenue growth than 19% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$12,672,550

Up $972,139 (+8.3%) from 2023

Net Assets

Up

$12,524,489

Up $873,030 (+7.5%) from 2023

Liabilities

Up

$148,061

Up $99,109 (+202%) from 2023

Revenue

Down

$1,204,768

Down $140,473 (-10%) from 2023

Expenses

Down

$1,287,704

Down $1,229,746 (-49%) from 2023

Net Income

Up

-$82,936

Up $1,089,273 (+93%) from 2023

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

2024

Assets$12,672,550
Liabilities$148,061
Net Assets$12,524,489

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

2024

Revenue$1,204,768
Expenses$1,287,704
Net Income-$82,936
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 31, 2024
Return Version
2023v5.0
Gross Receipts
$1,204,768
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$11,651,459$12,524,489▲ $873,030
Investments Other Securities$9,286,557$10,137,605▲ $851,048
Cash and Non-Interest-Bearing Accounts$1,182,769$1,356,304▲ $173,535
Savings and Temporary Cash Investments$836,466$806,704▼ $29,762
Pledges and Grants Receivable$281,325$247,100▼ $34,225
Investments in Publicly Traded Securities$108,501$107,374▼ $1,127
Prepaid Expenses and Deferred Charges$4,793$11,080▲ $6,287
Accounts Receivable-$6,383-
Total Assets$11,700,411$12,672,550▲ $972,139
Liabilities
Other Liabilities$26,072$66,015▲ $39,943
Accounts Payable and Accrued Expenses$22,880$62,932▲ $40,052
Deferred Revenue-$19,114-
Total Liabilities$48,952$148,061▲ $99,109
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,651,459$12,524,489▲ $873,030
Total Liabilities and Net Assets / Fund Balance$11,700,411$12,672,550▲ $972,139

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$10,137,605--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$9,416,996$107,422▲ $1,034,533-$10,258,845
2022$9,055,954$187,273▲ $584,009-$9,416,996
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Karrie BarrettPrevious ExPT$99,697$99,697
Leslie MapleExecutive DiPT$11,962$11,962

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,104,025
Program Service Revenue
$0
Investment Income
$100,743
Other Revenue
$0
All Other Contributions
$1,104,025
Change in Net Assets
$-82,936

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 Table29$21,600Fair Market Value
Other Non Cash Contri Table250$3,860Fair Market Value
Total Noncash Contributions279$25,460-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,204,768
Revenue Not Reported on Form 990
$1,029,507
Total Revenue per Audited Statements
$2,234,275
Total Revenue per Form 990
$1,204,768
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,038,285
Other Expenses$249,419
Total Fundraising Expense$177,668
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,038,285--$1,038,285
Other Expenses--$175,757$175,757
Fees for Services Accounting-$40,000-$40,000
Fees for Service Investment Mgmnt Fees-$15,695-$15,695
Information Technology-$7,962-$7,962
Office Expenses-$7,640-$7,640
Conferences and Meetings--$1,911$1,911
Advertising-$454-$454
Total Functional Expenses$1,038,285$71,751$177,668$1,287,704

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,361,245
Expenses per Audited Statements$1,287,704
Total Expenses per Form 990$1,287,704
Expenses Not Reported on Form 990$73,541
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Great Basin CollegeElko, NVGovCharitable$1,012,825
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$66,015
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
7757778497
Signed
2024-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Robert Colon
Formed
1982
Legal Domicile
Nv
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

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

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. 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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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. 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.
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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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • $10M-$25M nonprofits