Jerry Alexander Gorman Foundation
- Assets
- $280.7k
- Revenue
- $9.2k
- Investments
- $224.2k
- Employees
- 0
- Location
- Austin, TX
- Founding
- 09/2015
- Data as of
- 12/2023
- EIN
- 47-2681556
Organization Overview
Jerry Alexander Gorman Foundation is located in Austin, TX. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jerry Alexander Gorman Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Jerry Alexander Gorman Foundation generated $9.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (19.1%) each year. All expenses for the organization totaled $35.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECTLY FUNDED 6 SCHOLARSHIPS FOR THE JERRY ALEXANDER GORMAN FOUNDATION'S "THE PASSION TO SUCCEED" STUDENT SCHOLARSHIPS ADMINISTERED BY BEAUTY CHANGES LIVES TO EMPOWER INDIVIDUALS VIA EDUCATION IN THE FIELD OF COSMETOLOGY.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $42 |
| Dividends & Interest | $9,201 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,243 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $94 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $168 |
| Total operating and administrative expenses | $5,262 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $35,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,232 |
| Savings and temporary cash investments | $54,241 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $224,246 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $280,719 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Jerry Alexander Gorman Foundation has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE NOBELITY PROJECT PURPOSE: DONATION TO THE NOBELITY PROJECT TO PROVIDE GLOBAL SCHOLARSHIPS TO BRIDGE THE GAP IN EDUCATION IN COMMUNITIES AROUND THE WORLD. | $2,000 |
BEAUTY CHANGES LIVES PURPOSE: DIRECTLY FUNDED 6 SCHOLARSHIPS FOR THE JERRY ALEXANDER GORMAN FOUNDATION'S "THE PASSION TO SUCCEED" STUDENT SCHOLARSHIPS ADMINISTERED BY BEAUTY CHANGES LIVES TO EMPOWER INDIVIDUALS VIA EDUCATION IN THE FIELD OF COSMETOLOGY. | $20,000 |