Gorman Foundation
- Assets
- $2.9m
- Revenue
- $61.5k
- Investments
- $2.8m
- Employees
- 0
- Location
- Fair Oaks, TX
- Founding
- 05/1997
- Data as of
- 12/2023
- EIN
- 74-2822598
Organization Overview
Gorman Foundation is located in Fair Oaks, TX. The organization was established in 1997. 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. 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, Gorman Foundation generated $61.5k 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 (23.9%) each year. All expenses for the organization totaled $208.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Gorman Foundation has awarded 109 individual grants totaling $3,016,890. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James W Gorman III President & Board Chairman | 2 | $0 | |
Amy Gorman Ellis Vice President | 2 | $0 | |
Samuel Cain Ellis Secretary And Treasurer | 2 | $11,500 | |
Michael A Schott Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $825 |
| Dividends & Interest | $71,317 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $15,835 |
| Capital Gain Net Income | $15,835 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$26,477 |
| Total Revenue | $61,500 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $11,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,801 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $27,650 |
| Total operating and administrative expenses | $57,866 |
| Contributions, gifts, grants paid | $150,290 |
| Total expenses and disbursements | $208,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,151 |
| Savings and temporary cash investments | $22,497 |
| 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 | $298,397 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,895,625 |
| Accounts payable and accrued expenses | $2,120 |
| 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 | $785 |
| Total liabilities | $2,905 |
Grants Awarded
Over the last fiscal year, Gorman Foundation has awarded $150,290 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMO COLLEGES FOUNDATION PURPOSE: ALAMO PROMISE STUDENTS MOSAICO | $5,000 |
TEXAS BIOCHEMICAL FORUM PURPOSE: CAPITAL CAMPAIGN | $50,000 |
WATERVILLE BAPTIST CHURCH PURPOSE: ANNUAL CAMPAIGN | $10,000 |
UNITED STATES SPACE FOUNDATION PURPOSE: STEAM EDUCATION | $20,000 |
CHRISTUS SANTA ROSA CHIDREN'S HOSPITAL PURPOSE: ANNUAL UNRESTRICTED | $20,000 |
CIBOLO NATURE CENTER & FARM PURPOSE: CHILDREN'S EDUCATION ENVIRONMENT | $2,500 |