Governors Scholars Program Inc
- Assets
- $585.9k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Frankfort, KY
- Founding
- 12/1983
- Data as of
- 12/2021
- EIN
- 61-1026274
Organization Overview
Governors Scholars Program Inc is located in Frankfort, KY. The organization was established in 1983. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 12/2021, Governors Scholars Program Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Governors Scholars Program Inc 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 12/2021, Governors Scholars Program Inc generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH SCHOOL SENIORS WITH OPPORTUNITIES FOR GROWTH IN ACADEMICS AND SOCIAL AREAS, AS WELL AS PERSONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM PLACED HIGH SCHOOL RISING SENIORS ON 3 COLLEGE CAMPUSES FOR FIVE WEEKS OF ACADEMIC, SOCIAL AND PERSONAL GROWTH. 1,048 STUDENTS PARTICIPATED IN THE PROGRAM IN 2021
THE PROGRAM TRACKS ALUMNI AND HOSTS A WEBSITE FOR GSP ALUMNI.
DIVERSITY INITIATIVES PROGRAM. STAFF TRAVEL ACROSS THE STATE TO HOLD WORKSHOPS TO ENCOURAGE STUDENTS TO APPLY AND TO HELP THEM COMPLETE COMPETITIVE APPLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Malone Treasurer | OfficerTrustee | $0 | |
Eric G Farris Vice Chair | OfficerTrustee | $0 | |
Trey Grayson Chairman | OfficerTrustee | $0 | |
Alexandra Gerassimides MD Secretary | OfficerTrustee | $0 | |
Alan M Stein Vice Chair | OfficerTrustee | $0 | |
Jason E Glass Ex-Officio Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $354,177 |
| Government grants | $1,833,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $34,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,187,877 |
| Total Program Service Revenue | $0 |
| Investment income | $329 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,188,206 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,020 |
| Compensation of current officers, directors, key employees. | $66,311 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $418,458 |
| Pension plan accruals and contributions | $21,604 |
| Other employee benefits | $0 |
| Payroll taxes | $41,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,379 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,629 |
| Office expenses | $34,386 |
| Information technology | $7,642 |
| Royalties | $0 |
| Occupancy | $30,662 |
| Travel | $12,251 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,760 |
| Insurance | $77,254 |
| All other expenses | $97,014 |
| Total functional expenses | $2,411,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $578,420 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,479 |
| Net Land, buildings, and equipment | $4,980 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $585,903 |
| Accounts payable and accrued expenses | $5,218 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,218 |
| Net assets without donor restrictions | $580,685 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $585,903 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Governors Scholars Program Inc has recieved totaling $16,000.
| Awarding Organization | Amount |
|---|---|
Ramtell Inc Tell City, IN PURPOSE: GENERAL SUPPORT | $10,000 |
Laura G Turner Charitable Foundation Inc Nashville, TN PURPOSE: SCHOLARSHIP SUPPORT | $6,000 |
Peer Organizations
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|---|---|---|
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Currey Ingram Academy Brentwood, TN | $68,664,811 | $19,766,895 |
The Faison Center Inc Richmond, VA | $62,568,652 | $21,070,606 |
Leslie Shankman School Corporation Chicago, IL | $18,541,071 | $14,894,001 |
Gibault Inc Terre Haute, IN | $35,353,670 | $13,928,805 |
Giant Steps Illinois Inc Lisle, IL | $11,784,298 | $12,524,007 |
Lawrence School Broadview Heights, OH | $26,810,351 | $14,941,230 |
Virginia Episcopal School Lynchburg, VA | $42,343,812 | $12,608,124 |
Park Lawn School And Activity Center Oak Lawn, IL | $3,052,012 | $10,616,192 |
Cove School Inc Northbrook, IL | $12,796,735 | $10,362,338 |
Marburn Academy Inc New Albany, OH | $15,756,031 | $10,606,006 |
Kings Daughters School Of Maury County Tennessee Columbia, TN | $22,315,744 | $10,828,649 |