Mary I Gourley Scholarship Foundation
- Assets
- $7.5m
- Revenue
- $293.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Fort Worth, TX
- Founding
- 01/1986
- Data as of
- 06/2024
- EIN
- 75-2052592
Organization Overview
Mary I Gourley Scholarship Foundation is located in Fort Worth, TX. The organization was established in 1986. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2024, Mary I Gourley Scholarship Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mary I Gourley Scholarship 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 06/2024, Mary I Gourley Scholarship Foundation generated $293.3k 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 (5.0%) each year. All expenses for the organization totaled $691.5k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mary I Gourley Scholarship Foundation has awarded 30 individual grants totaling $1,905,597. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE MARY I. GOURLEY FOUNDATION ASSISTS STUDENTS OBTAINING A HIGHER EDUCATION BY AWARDING ASSISTANCE GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARY I. GOURLEY FOUNDATION ASSISTS STUDENTS OBTAINING A HIGHER EDUCATION BY AWARDING ASSISTANCE GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Rice Chairman Of The Board | OfficerTrustee | 10 | $0 |
Colby Adams Vice Chairman | OfficerTrustee | 1 | $0 |
Robert Fernandez Treasurer | OfficerTrustee | 2 | $0 |
Mike Scott Secretary | OfficerTrustee | 1 | $0 |
David Ximenez Director | Trustee | 1 | $0 |
Leo W Munson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $172,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,026 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $119,744 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $69,029 |
| Grants and other assistance to domestic individuals. | $369,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $99,754 |
| Compensation of current officers, directors, key employees. | $5,882 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,018 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $35,201 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,216 |
| Advertising and promotion | $0 |
| Office expenses | $9,116 |
| Information technology | $10,321 |
| Royalties | $0 |
| Occupancy | $23,882 |
| Travel | $0 |
| 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 | $875 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $691,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,869 |
| Savings and temporary cash investments | $58,976 |
| Pledges and grants receivable | $0 |
| 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 | $728 |
| Investments—publicly traded securities | $7,405,865 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,518,438 |
| Accounts payable and accrued expenses | $2,717 |
| 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 | $2,717 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $7,515,721 |
| Total liabilities and net assets/fund balances | $7,518,438 |
Grants Awarded
Over the last fiscal year, Mary I Gourley Scholarship Foundation has awarded $0 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS CHRISTIAN UNIVERSITY | | | $0 |
TARRANT COUNTY COLLEGE | | | $0 |
TEXAS WESLYAN UNIVERSITY | | | $0 |
SOUTHWESTERN BAPTIST THEOLOGICAL SE | | | $0 |
UNIVERSITY OF TEXAS AT ARLINGTON | | | $0 |
TEXAS WOMENS UNIVERSITY | | | $0 |