GARY EDUCATIONAL DEVELOPMENT FOUNDATION INC

EIN: 310894179 501(c)(3) Education

Gary, IN

Total Revenue
$628,854
Total Expenses
$211,843
Total Assets
$5,785,329
Net Assets
$5,785,329
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
IN
Principal Officer
Kira Tyler
Phone
2198864902
Tax Period
2023-01-01 to 2023-12-31

GARY EDUCATIONAL DEVELOPMENT FOUNDATION INC, founded in 1976, is a small nonprofit in the Education sector that reported $629K in total revenue in fiscal year 2023. Revenue surged 983% from the prior year, signaling strong growth momentum. The organization ran a surplus of $417K, a strong 66% operating margin.

Mission

To provide scholarships for college and technical training for the students of Gary, Indiana.

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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 (2023)

Revenue Breakdown

Contributions & Grants $42,828
Program Service Revenue $0
Investment Income $585,833
Other Revenue $193
TOTAL REVENUE $628,854

Expense Breakdown

Grants Paid $78,341
Salaries & Benefits $94,460
Fundraising Expenses $0
Program Expenses $117,383
Other Expenses $39,042
TOTAL EXPENSES $211,843

Year-over-Year Comparison

2023 2022 Change
Revenue $628,854 $58,051 +9.8%
Expenses $211,843 $163,623 +0.3%
Net Income $417,011 $-105,572 -5.0%
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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
17
Independent Members
17
Employees
2
Volunteers
N/A

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
0
$0
Total Directors
16
$0
Key Employees
2
$87,771
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kira Tyler Officer Manager 40
Key Emp Highest
$73,771 $0 $73,771
Charuis Anderson Executive Director 5
Key Emp
$14,000 $0 $14,000
Rev Timothy Brown Sr Pastor Trustee 0
Director
$0 $0 $0
Yvette Irons-Johnson Trustee 0
Director
$0 $0 $0
Dr Paige McNulty Trustee 0
Director
$0 $0 $0
Nellie F Moore Trustee 0
Director
$0 $0 $0
Mamon Powers Jr Trustee 0
Director
$0 $0 $0
Clifton Gooden Trustee 0
Director
$0 $0 $0
Raymond Grady FACHE Trustee 0
Director
$0 $0 $0
Delphia Shelton Trustee 0
Director
$0 $0 $0
Foster Stephens Trustee 0
Director
$0 $0 $0
Dr Myrtle V Campbell Trustee 0
Director
$0 $0 $0
Scott Casbon Trustee 0
Director
$0 $0 $0
Mary Comer Trustee 0
Director
$0 $0 $0
GlenEva Dunham Trustee 0
Director
$0 $0 $0
Frederick Ford Trustee 0
Director
$0 $0 $0
Edmund Gunn Trustee 0
Director
$0 $0 $0
Jeffrey Hughes Trustee 0
Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $628,854 $211,843 $5,785,329 $417,011
2022 $58,051 $163,623 $5,368,317 $-105,572
2021 $811,670 $159,204 $6,848,918 $652,466
2020 $728,898 $152,061 $5,931,829 $576,837
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