Gainey Foundation

The information for Gainey Foundation is as of the organization's most recent filing in December 2019. This organization is located in Grand Rapids, MI. It has been in existence for 18 years, following its founding in 2001.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Gainey Foundation's NTEE code is N20. The "N" tells us that the organization is classified along with Recreation & Sports. The "20" tells us that the organization is a Camps organization. The NTEE describes Camps as organizations that operate facilities for cooperative group living experiences in the out-of-doors, providing opportunities to learn campcraft, nature lore and conservation, and participate in a wide range of recreational, athletic and group social activities.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(3) organization. The IRS describes these organizations as those engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Gainey Foundation is to receive and administer funds or property for charitable, religious, scientific, literary, or educational purposes, with the primary tax exempt purpose being the support of Christian athletes.

Program Areas

The foundation operated and financed a Christian camp that sponsored scholastic, spiritual, and athletic activities for 510 youths ages 12-22.

Organization Staffing

Gainey Foundation has 1 employee, none of whom were paid more than $100k according to the organization's most recent 990 tax filing. There are no volunteers currently supporting the organization.

Board Governance

The Gainey Foundation is governed by a board of four voting members, with one independent member. Board meetings are documented, however, the organization does not have a conflict of interest policy, a written whistleblower policy, a document retention policy, or a policy for substantiating and reviewing leadership or officer salaries. Furthermore, the organization does not require disclosure of conflicts and does not provide copies of the 990 to the board prior to filing. While the board of the Gainey Foundation is taking steps to ensure good governance, the lack of policies and procedures in place to address potential conflicts of interest, document retention, and salary substantiation could lead to potential issues in the future.

Organization Growth

Overall, the Gainey Foundation has experienced a net growth in terms of its total revenue, contributions, and grants received over the past five years. This growth is offset somewhat by decreases in investment income, other revenue, employee salaries, and total employees. Despite these decreases, the Gainey Foundation has experienced growth in key areas and is in a better financial position than it was five years ago.