THE GALAX FOUNDATION FOR EXCELLENCE IN EDUCATION (EIN 541430294) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

TONY TRUITT

Phone

2762362911

Tax Period

2024-07-01 to 2025-06-30

THE GALAX FOUNDATION FOR EXCELLENCE IN EDUCATION, founded in 1988, is a small nonprofit in the Education sector that reported $207K in total revenue in fiscal year 2018. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $96K, a strong 46% operating margin.

Mission

EDUCATION ASSISTANCE TO PROVIDE SCHOLARSHIPS FOR HIGH SCHOOL GRADUATES OF THE PUBLIC SCHOOLS IN GALAX, VA

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $344,168

Program Service Revenue $0

Investment Income $391,293

Other Revenue $10,660

TOTAL REVENUE $746,121

Expense Breakdown

Grants Paid $108,156

Salaries & Benefits $0

Fundraising Expenses $282

Program Expenses $144,618

Other Expenses $52,471

TOTAL EXPENSES $160,627

Year-over-Year Comparison

	2024	2023	Change
Revenue	$746,121	$271,500	+1.7%
Expenses	$160,627	$159,893	+0.0%
Net Income	$585,494	$111,607	+4.2%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$12,000

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TONY L TRUITT	CHAIRMAN	1.00	Officer Director	$0	$0	$0
RITA KEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KATHY HALSEY	SECRETARY/TREASURER	1.00	Officer Director	$12,000	$0	$12,000
DAVID COCKERHAM	DIRECTOR	1.00	Director	$0	$0	$0
STEVE GALYEAN	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD A HANKS II	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN TILLEY	DIRECTOR	1.00	Director	$0	$0	$0
WENDI PEMBERTON	DIRECTOR	1.00	Director	$0	$0	$0
LINDA ROSENFELD	DIRECTOR	1.00	Director	$0	$0	$0
JAMIRES POINDEXTER	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER MARKHAM	DIRECTOR	1.00	Director	$0	$0	$0
BRAD WATSON	DIRECTOR	1.00	Director	$0	$0	$0
BROOKS EDWARD	DIRECTOR	1.00	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
2025	$746,121	$160,627	$5,235,326	$585,494
2024	$271,500	$159,893	$4,541,196	$111,607
2023	$539,072	$162,829	$4,019,241	$376,243
2022	$406,992	$151,708	$3,680,209	$255,284
2021	$237,603	$143,551	$4,037,079	$94,052
2020	$145,130	$81,287	$3,259,603	$63,843
2019	$207,343	$111,015	$3,302,162	$96,328

THE GALAX FOUNDATION FOR EXCELLENCE IN EDUCATION