Overview
What is Governor's Scholars Program Foundation Inc?
Governor's Scholars Program Foundation Inc, located in Frankfort, Kentucky, is a nonprofit organization with a single employee. Their primary mission is to raise and manage financial support for the Governor's Scholars Program, Inc. (GSP). This includes providing financial assistance to various educational initiatives under GSP. Additionally, they offer planned giving opportunities for donors who wish to support GSP's mission. By doing so, the Foundation contributes to the enrichment of educational programs for students within the Governor's Scholars Program.
Official website here: www.gsp.ky.gov
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating
The Governor's Scholars Program Foundation Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 88%. This rating is based entirely on its Accountability & Finance metrics, highlighting the foundation’s strong governance and financial practices. The foundation boasts a 90% independent board, ensuring effective oversight and decision-making.
Among its strengths, the foundation shows commendable scores in areas such as having no material diversion of assets and a favorable liabilities-to-assets ratio of 0.59%. Additionally, it maintains high program expense ratios, with 82.87% of its expenses devoted to program services, indicating a strong commitment to fulfilling its mission. However, some critical policies, including a whistleblower policy and document retention and destruction procedures, are missing, which could raise concerns about transparency and accountability.
Overall, while the foundation demonstrates robust financial management and governance, the absence of certain key policies may limit its overall effectiveness and trustworthiness in the eyes of potential donors and stakeholders. Addressing these gaps could further enhance the organization’s credibility and performance in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Governor's Scholars Program Foundation Inc legitimate?
Governor's Scholars Program Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Governor's Scholars Program Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $132,192
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.gsp.ky.gov
What is the mission statement of Governor's Scholars Program Foundation Inc?
The Governor's Scholars Program Foundation Inc's mission is to support the Governor's Scholars Program financially. This involves raising funds and managing them effectively. Additionally, the foundation offers planned giving opportunities for donors who wish to contribute to the program. The financial support provided by the foundation is channeled towards various educational initiatives under the Governor's Scholars Program.
Official website here: www.gsp.ky.gov
Who is the CEO of Governor's Scholars Program Foundation Inc?
William Malone is the President/Secretary of Governor's Scholars Program Foundation Inc.
Official website here: www.gsp.ky.gov
What is the revenue of Governor's Scholars Program Foundation Inc?
Governor's Scholars Program Foundation Inc's revenue in 2022 was $651,381.
Official website here: www.gsp.ky.gov
Who are the executives of Governor's Scholars Program Foundation Inc and what are their salaries?
The average compensation at Governor's Scholars Program Foundation Inc during 2022 was $132,192. There is 1 employee and 7 volunteers at Governor's Scholars Program Foundation Inc.
Here are 8 key members and their salaries:
- Compensation: $117,254
- Related: $0
- Other: $14,938
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.gsp.ky.gov
Where can I find the form 990 for Governor's Scholars Program Foundation Inc?
Governor's Scholars Program Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gsp.ky.gov
Learn more at the official website: www.gsp.ky.gov
Mission Statement of Governor's Scholars Program Foundation Inc
The Governor's Scholars Program Foundation Inc, in its mission, focuses on raising and managing financial support for the Governor's Scholars Program Inc (GSP). This dedicated organization seeks to offer planned giving opportunities for donors who are passionate about contributing to the betterment of GSP. The primary objective of the Foundation is to provide financial assistance to various educational programs under the Governor's Scholars Program Inc. By doing so, it plays a crucial role in supporting the growth and development of these educational initiatives.
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Impact
July, 2024
Governor's Scholars Program Foundation Inc has a significant impact on the educational landscape by providing financial support for the Governor's Scholars Program. This support enables the Governor's Scholars Program, Inc. to offer various educational programs that benefit students in Kentucky. Through its mission to raise and manage financial support for the Governor's Scholars Program, Inc., as well as provide planned giving opportunities for donors interested in supporting GSP, the foundation plays a crucial role in advancing educational opportunities for young scholars.
This information is meant to be a general summary of Governor's Scholars Program Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $51,275
- Gross Receipts: $844,526
Assets and Liabilities:
- Total Assets: $3,597,407
- Total Liabilities: $38,553
- Net Assets: $3,558,854
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Organization Details
Founding Year
2001
Phone
(502) 209-4420Principal Officer
William Malone
Main Address
112 CONSUMER LANE, FRANKFORT, KY, 40601
Website
www.gsp.ky.govNTEE Category
Code: T30 - Philanthropy
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