Geological Society Of America Foundation
- Assets
- $29.4m
- Revenue
- $2.7m
- Investments
- $7.0m
- Employees
- 4
- Location
- Boulder, CO
- Founding
- 05/1981
- Data as of
- 06/2022
- EIN
- 74-2156871
Organization Overview
Geological Society Of America Foundation is located in Boulder, CO. The organization was established in 1981. According to its NTEE Classification (U36) the organization is classified as: Geology, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Geological Society Of America Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geological Society Of America 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 06/2022, Geological Society Of America Foundation generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RESEARCH IN THE FIELD OF GEOLOGY AND DISSEMINATION OF INFORMATION.
Describe the Organization's Program Activity:
DEVELOPING AND PROVIDING FUNDS TO SUPPORT THE GOALS AND PROGRAMS OF THE GEOLOGICAL SOCIETY OF AMERICA. THESE FUNDS ARE DISTRIBUTED ACCORDING TO THE NEEDS OF THE SOCIETY AND IN A MANNER CONSISTENT WITH THE DESIRE OF THE DONORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lydia Fox Trustee | Trustee | 1 | $0 |
Jeffrey Oslund Chair | OfficerTrustee | 20 | $0 |
Teresa S Bowers Vice Chair | OfficerTrustee | 1 | $0 |
Darrel S Cowan Trustee | Trustee | 1 | $0 |
Teresa S Bowers Trustee | Trustee | 1 | $0 |
Rex Buchanan Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $432,418 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,258,277 |
| Noncash contributions included in lines 1a–1f | $71,844 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,690,695 |
| Total Program Service Revenue | $29,300 |
| Investment income | $188,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $816,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,733,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,064,959 |
| 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. | $134,847 |
| Compensation of current officers, directors, key employees. | $39,848 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,610 |
| Pension plan accruals and contributions | $26,098 |
| Other employee benefits | $46,151 |
| Payroll taxes | $25,743 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,490 |
| Fees for services: Accounting | $19,534 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,321 |
| Fees for services: Other | $2,827 |
| Advertising and promotion | $0 |
| Office expenses | $1,237 |
| Information technology | $31,476 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,809 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $28,373 |
| Total functional expenses | $1,967,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $306,025 |
| Savings and temporary cash investments | $402,668 |
| Pledges and grants receivable | $52,239 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $21,572,778 |
| Investments—other securities | $7,049,665 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,383,375 |
| Accounts payable and accrued expenses | $508,993 |
| 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 | $508,993 |
| Net assets without donor restrictions | $6,011,738 |
| Net assets with donor restrictions | $22,862,644 |
| 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 | $29,383,375 |