GOVERNORS SCHOLARS PROGRAM FOUNDATION INC: Form 990, tax year 2025
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- Organization
- GOVERNORS SCHOLARS PROGRAM FOUNDATION INC (EIN 61-1393028)
- Tax period
- 2025-01-01 to 2025-12-31
- Filed
- 2026-07-02
- IRS object ID
- 202601839349300205
- Schema version
- 2025v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-07-02T07:11:09-05:00 | ReturnTs |
| Tax Period End | 2025-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 611064249 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DEMING MALONE LIVESAY & OSTROFF PSC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9300 SHELBYVILLE RD STE 1100 | AddressLine1Txt |
| City | LOUISVILLE | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 402225187 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2025-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 611393028 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GOVERNOR'S SCHOLARS PROGRAM | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GOVE | BusinessNameControlTxt |
| Phone | 5022094420 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 112 CONSUMER LANE | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM MALONE | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 5022094420 | PhoneNum |
| Signature | 2026-05-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHRISTINE NICHTER | PreparerPersonNm |
| PTIN | P01022180 | PTIN |
| Phone | 5024269660 | PhoneNum |
| Preparation | 2026-05-27 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2025 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | WILLIAM MALONE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 112 CONSUMER LANE | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,626,155 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | GSP.KY.GOV | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2001 | FormationYr |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SUPPORT FOR THE GOVERNOR'S SCHOLARS PROGRAM, INC. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 1 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $586,269 | PYContributionsGrantsAmt |
| CY Contributions Grants | $683,449 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $258,149 | PYInvestmentIncomeAmt |
| CY Investment Income | $523,789 | CYInvestmentIncomeAmt |
| PY Other Revenue | $36,413 | PYOtherRevenueAmt |
| CY Other Revenue | $27,549 | CYOtherRevenueAmt |
| PY Total Revenue | $880,831 | PYTotalRevenueAmt |
| CY Total Revenue | $1,234,787 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $450,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $224,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $151,145 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $156,581 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $136,698 | PYOtherExpensesAmt |
| CY Other Expenses | $132,498 | CYOtherExpensesAmt |
| PY Total Expenses | $737,843 | PYTotalExpensesAmt |
| CY Total Expenses | $513,079 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $142,988 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $721,708 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,257,048 | TotalAssetsBOYAmt |
| Total Assets EOY | $5,036,455 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $56,259 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $86,371 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,200,789 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,950,084 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO RAISE AND MANAGE FINANCIAL SUPPORT FOR THE GOVERNOR'S SCHOLARS PROGRAM, INC. (GSP), AS WELL AS TO PROVIDE PLANNED GIVING OPPORTUNITIES FOR DONORS WHO ARE INTERESTED IN SUPPORTING GSP. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $390,544 | ExpenseAmt |
| Grant | $224,000 | GrantAmt |
| Revenue | $27,549 | RevenueAmt |
| Desc | FINANCIAL SUPPORT PROVIDED TO VARIOUS EDUCATIONAL PROGRAMS OF THE GOVERNOR'S SCHOLARS PROGRAM, INC. | Desc |
| Total Program Service Expenses | $390,544 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 5 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 1 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | KY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ERIN BYRD | PersonNm |
| Phone | 5022094420 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 112 CONSUMER LANE | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt |
|---|---|---|---|---|---|---|---|
| DOUG DRAUT | |||||||
| PRESIDENT/SECRETARY | 40.00 | Yes (X) | Yes (X) | $129,430 | $0 | $16,372 | |
| ALAN STEIN | |||||||
| CHAIR | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | 0.25 |
| VINCE GABBERT | |||||||
| VICE CHAIR | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | 0.25 |
| WILLIAM MALONE | |||||||
| TREASURER | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | 0.25 |
| LAURA COLEMAN PRITCHARD | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| LESLIE FUGATE | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| WAYNE M MARTIN | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| TREY GRAYSON | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| ANNE MCKUNE | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| SRINI MATAM | |||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | 0.25 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $129,430 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $16,372 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $11,553 | FundraisingAmt |
| All Other Contributions | $671,896 | AllOtherContributionsAmt |
| Total Contributions | $683,449 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $63,099 | TotalRevenueColumnAmt |
| Exclusion | $63,099 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $766,404 | SecuritiesAmt |
| Other | $30,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $335,714 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $430,690 | SecuritiesAmt |
| Other | $30,000 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $460,690 | TotalRevenueColumnAmt |
| Exclusion | $460,690 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $3,064 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $11,553 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $3,064 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $78,321 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $52,590 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $25,731 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,731 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $1,818 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,818 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,818 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,234,787 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $27,549 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $523,789 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $224,000 | TotalAmt |
| Program Services | $224,000 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $146,680 | TotalAmt |
| Program Services | $100,085 | ProgramServicesAmt |
| Management And General | $46,595 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,901 | TotalAmt |
| Program Services | $6,931 | ProgramServicesAmt |
| Management And General | $2,970 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,602 | TotalAmt |
| Management And General | $8,602 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,353 | TotalAmt |
| Management And General | $25,353 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,550 | TotalAmt |
| Program Services | $45,846 | ProgramServicesAmt |
| Management And General | $704 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,569 | TotalAmt |
| Program Services | $4,967 | ProgramServicesAmt |
| Management And General | $602 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,038 | TotalAmt |
| Management And General | $2,038 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,969 | TotalAmt |
| Program Services | $5,812 | ProgramServicesAmt |
| Management And General | $157 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,667 | TotalAmt |
| Program Services | $2,667 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,298 | TotalAmt |
| Management And General | $5,298 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt | Program ServicesProgramServicesAmt |
|---|---|---|---|
| ADMIN FEE GSP | $25,430 | $25,430 | |
| MISCELLANEOUS | $3,742 | $3,736 | $6 |
| PROFESSIONAL DEV - FR | $1,280 | $1,050 | $230 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $513,079 | TotalAmt |
| Program Services | $390,544 | ProgramServicesAmt |
| Management And General | $122,535 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $576,014 | BOYAmt |
| EOY | $700,003 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $52,524 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $107,138 | BOYAmt |
| EOY | $31,972 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,500 | BOYAmt |
| EOY | $939 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $268 | BOYAmt |
| EOY | $538 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $80,000 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,667 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $77,333 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,557,128 | BOYAmt |
| EOY | $4,173,146 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,257,048 | BOYAmt |
| EOY | $5,036,455 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,259 | BOYAmt |
| EOY | $86,371 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,259 | BOYAmt |
| EOY | $86,371 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,539,921 | BOYAmt |
| EOY | $4,247,693 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $660,868 | BOYAmt |
| EOY | $702,391 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,200,789 | BOYAmt |
| EOY | $4,950,084 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,257,048 | BOYAmt |
| EOY | $5,036,455 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $721,708 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $27,587 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $594,810 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $561,911 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $408,468 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $586,269 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $683,449 | CurrentTaxYearAmt |
| Total | $2,834,907 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $594,810 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $561,911 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $408,468 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $586,269 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $683,449 | CurrentTaxYearAmt |
| Total | $2,834,907 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $471,746 | SubstantialContributorsTotAmt |
| Public Support Total170 | $2,363,161 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $46,604 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $50,452 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $52,855 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $66,987 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $63,099 | CurrentTaxYearAmt |
| Total | $279,997 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $1,818 | CurrentTaxYearAmt |
| Total | $1,818 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $3,116,722 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $374,738 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.75820 | PublicSupportCY170Pct |
| Public Support PY170 | 0.75670 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,417,245 | BeginningYearBalanceAmt |
| Contributions | $49,023 | ContributionsAmt |
| End Year Balance | $1,466,268 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,417,245 | BeginningYearBalanceAmt |
| End Year Balance | $1,417,245 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,417,245 | BeginningYearBalanceAmt |
| End Year Balance | $1,417,245 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,417,245 | BeginningYearBalanceAmt |
| End Year Balance | $1,417,245 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,417,245 | BeginningYearBalanceAmt |
| End Year Balance | $1,417,245 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.54492 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.45508 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $80,000 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,667 | DepreciationAmt |
| Book Value | $77,333 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $77,333 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,292,675 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $27,587 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $27,587 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,265,088 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $25,353 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$55,654 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$30,301 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,234,787 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $543,380 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $55,654 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $55,654 | ExpensesNotReportedAmt |
| Expenses Subtotal | $487,726 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $25,353 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $25,353 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $513,079 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ENDOWMENT CONSISTS OF FUNDS TO SUPPORT THE LONG-TERM OPERATIONS OF THE FOUNDATION, INCLUDING CONTINUED SUPPORT OF THE GOVERNOR'S SCHOLARS PROGRAM. A PORTION OF THE ENDOWMENT IS ALSO SPECIFIC TO SUPPORTING SCHOLARS AND FACULTY FROM ROWAN AND ELLIOTT COUNTIES ATTENDING THE GOVERNOR'S SCHOLARS PROGRAM. |
| PART X, LINE 2: | THE FOUNDATION FILES AN INFORMATIONAL RETURN WITH THE U.S. FEDERAL JURISDICTION AND THE KENTUCKY ATTORNEY GENERAL. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION WAS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX IN 2025 OR 2024. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | MERCHANDISE COGS -52,590. FUNDRAISING EVENT EXPENSES -3,064. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | MERCHANDISE COGS 52,590. FUNDRAISING EVENT EXPENSES 3,064. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GOVERNOR'S SCHOLARS PROGRAM INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 112 CONSUMER LANE | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 611026274 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $224,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | ASSIST IN FUNDING CURRENT YEAR OPERATIONS FOR THE GOVERNOR'S SCHOLARS PROGRAM | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION OPERATES EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE GRANT RECIPIENT. GOVERNANCE AND MANAGEMENT OF THE FOUNDATION ARE IN CLOSE CONTACT WITH GOVERNANCE AND MANAGEMENT OF THE GRANT RECIPIENT FOR MONITORING PURPOSES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS REVIEWED AND APPROVED BY THE BOARD TREASURER. |
| FORM 990, PART VI, SECTION B, LINE 12C | TRUSTEES ARE REQUIRED TO NOTIFY THE PRESIDENT OF THE BOARD OF ANY CHANGES IN PREVIOUS CONFLICT OF INTEREST STATEMENT SUBMITTED AT THE BEGINNING OF THE YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE PRESIDENT'S PERFORMANCE, SALARY AND BENEFITS PACKAGE ARE REVIEWED BY THE BOARD OF TRUSTEES WHICH HAS ACCESS TO COMPARABILITY DATA. THE BOARD MAKES THE FINAL DECISION ON COMPENSATION AND BENEFITS. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GOVERNOR'S SCHOLARS PROGRAM INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 112 CONSUMER LANE | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 611026274 | EIN |
| Primary Activities | EDUCATIONAL PROGRAMS | PrimaryActivitiesTxt |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |