GFOA Endowment Corporation

EIN: 237208840 501(c)(3) Public & Societal Benefit

Chicago, IL

Total Revenue
$1,467,137
Total Expenses
$1,832,581
Total Assets
$38,217,855
Net Assets
$37,344,764
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
IL
Principal Officer
Christopher P Morrill
Phone
3129779700
Tax Period
2024-04-01 to 2025-03-31

GFOA ENDOWMENT CORPORATION, founded in 1971, is a community nonprofit in the Public & Societal Benefit sector that reported $5.3M in total revenue in fiscal year 2020. Revenue surged 706% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.8M, a strong 91% operating margin.

Mission

The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $1,467,137
Other Revenue $0
TOTAL REVENUE $1,467,137

Expense Breakdown

Grants Paid $1,815,946
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,815,946
Other Expenses $16,635
TOTAL EXPENSES $1,832,581

Year-over-Year Comparison

2024 2023 Change
Revenue $1,467,137 $986,689 +0.5%
Expenses $1,832,581 $322,085 +4.7%
Net Income $-365,444 $664,604 -1.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
18
Independent Members
18
Employees
N/A
Volunteers
18

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$801,945
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tanya Garost President 0.10
Officer Director
$0 $0 $0
Lunda Asmani President-Elect 0.10
Officer Director
$0 $0 $0
Laura Allen Past President 0.10
Officer Director
$0 $0 $0
Terri Velasquez Past President until 6/11/24 0.10
Officer Director
$0 $0 $0
Diane Allison Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Sonia Andrews Board Member 0.10
Director
$0 $0 $0
Jennifer Brown Board Member 0.10
Director
$0 $0 $0
Veronica Carrillo Board Member until 6/11/24 0.10
Director
$0 $0 $0
Timothy Ewell Board Member 0.10
Director
$0 $0 $0
Bruce Fisher Board Member until 6/11/24 0.10
Director
$0 $0 $0
Chris Forster Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Jason Greene Board Member 0.10
Director
$0 $0 $0
Edward Gin Board Member 0.10
Director
$0 $0 $0
Clae Hack Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Anne Harty Board Member until 6/11/24 0.10
Director
$0 $0 $0
Harpreet Hora Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Rafiu O Ighile Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Susan Iverson Board Member until 6/11/24 0.10
Director
$0 $0 $0
Grace Martinez Board Member 0.10
Director
$0 $0 $0
Ember Strange Board Member as of 6/11/24 0.10
Director
$0 $0 $0
Kendel Taylor Board Member 0.10
Director
$0 $0 $0
Debra Roberts Board Member until 6/11/24 0.10
Director
$0 $0 $0
David Schmiedicke Board Member 0.10
Director
$0 $0 $0
Diane Waldron Board Member 0.10
Director
$0 $0 $0
Christopher P Morrill Executive Director, CEO 0.10
Officer
$0 $79,692 $529,297
Sarah Lombardi Director of Finance 0.10
Officer
$0 $46,287 $272,648
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,467,137 $1,832,581 $38,217,855 $-365,444
2024 $986,689 $322,085 $36,716,386 $664,604
2023 $566,655 $483,182 $30,771,656 $83,473
2022 $530,527 $540,457 $33,873,362 $-9,930
2021 $5,315,678 $487,376 $32,224,885 $4,828,302
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