Geological Society Of America Foundation
- Assets
- $25.2m
- Revenue
- $3.2m
- Investments
- $5.7m
- Employees
- 6
- Location
- Boulder, CO
- Founding
- 05/1981
- Data as of
- 06/2020
- 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 06/2021, Geological Society Of America Foundation employed 6 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 06/2020, Geological Society Of America Foundation generated $3.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2020. 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
2020
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:
Part 3 - Line 4a
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 |
|---|---|---|---|
Debora Marcinkowski Director | Officer | 40 | $120,947 |
Jeffrey Oslund Vice Chair | OfficerTrustee | 1 | $0 |
Thomas Holzer Treasurer | OfficerTrustee | 1 | $0 |
A Wesley Ward Chair | OfficerTrustee | 20 | $0 |
Judy Parrish Trustee | Trustee | 1 | $0 |
Lydia Fox Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,131,620 |
| Investment income | $717,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $304,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,154,143 |
| Statement of Expenses | |
|---|---|
| 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. | $174,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $232,480 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,250 |
| Payroll taxes | $30,836 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,986 |
| Fees for services: Accounting | $11,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $405,695 |
| Fees for services: Other | $2,803 |
| Advertising and promotion | $0 |
| Office expenses | $22,478 |
| Information technology | $31,706 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,210 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,383 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,318,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,760 |
| Savings and temporary cash investments | $549,185 |
| Pledges and grants receivable | $104,997 |
| 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 |
| Investments—publicly traded securities | $18,534,367 |
| Investments—other securities | $5,705,481 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,155,790 |
| Accounts payable and accrued expenses | $363,876 |
| 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 | $363,876 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $24,791,914 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Geological Society Of America Foundation has recieved totaling $6,204.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $5,550 |
Fruehauf Foundation Houston, TX PURPOSE: ENVIRONMENT, CONSERVATION AND WILDLIFE | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $154 |
Endowment Analysis
| Beg. Balance | $16,895,400 |
| Earnings | $4,594,426 |
| Net Contributions | $914,889 |
| Other Expense | $976,365 |
| Ending Balance | $21,428,350 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Geological Society Of America Foundation Boulder, CO | $25,155,790 | $3,154,143 |
Sepm Society For Sedimentary Geology Broken Arrow, OK | $5,582,306 | $1,036,027 |
Mineralogical Record Inc Tucson, AZ | $1,267,443 | $1,032,795 |
Tucson Gem And Mineral Society Inc Tucson, AZ | $866,231 | $716,626 |
American Institute Of Professional Geologists Westminster, CO | $3,145,022 | $984,035 |
Rocky Mountain Association Of Geologists Denver, CO | $1,409,204 | $227,835 |
American Institute Of Professional Geologists Westminster, CO | $565,394 | $257,675 |
Mining Foundation Of The Southwest Inc Tucson, AZ | $544,759 | $193,900 |
Quartzsite Roadrunner Gem & Mineral Club Inc Quartzsite, AZ | $211,686 | $0 |
New Mexico Geological Society Socorro, NM | $409,141 | $0 |
Association Of American State Geologists Westminster, CO | $256,706 | $74,875 |
Wyoming Geological Association Casper, WY | $459,695 | $0 |