GOVERNOR'S SCHOLARS PROGRAM INC

EIN: 611026274 501(c)(3)

FRANKFORT, KY

Total Revenue
$2,387,806
Total Expenses
$2,741,669
Total Assets
$302,801
Net Assets
$248,309
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
KY
Principal Officer
ARIS CEDENO
Phone
5022094420
Tax Period
2023-01-01 to 2023-12-31

GOVERNOR'S SCHOLARS PROGRAM INC, founded in 1983, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $2.7M exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE HIGH SCHOOL SENIORS WITH OPPORTUNITIES FOR GROWTH IN ACADEMICS AND SOCIAL AREAS, AS WELL AS PERSONAL GROWTH.

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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 $2,385,293
Program Service Revenue $0
Investment Income $2,513
Other Revenue $0
TOTAL REVENUE $2,387,806

Expense Breakdown

Grants Paid $0
Salaries & Benefits $631,377
Fundraising Expenses $0
Program Expenses $2,345,529
Other Expenses $2,110,292
TOTAL EXPENSES $2,741,669

Year-over-Year Comparison

2023 2022 Change
Revenue $2,387,806 $2,143,848 +0.1%
Expenses $2,741,669 $2,498,016 +0.1%
Net Income $-353,863 $-354,168 0.0%
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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Governance

Voting Members
38
Independent Members
38
Employees
11
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
5
$0
Total Directors
38
$0
Key Employees
1
$193,602
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARIS CEDENO EXECUTIVE DI 40.00
Key Emp
$160,000 $33,602 $193,602
AARON THOMPSON EX-OFFICIO MEMBER N/A
Director
$0 $0 $0
ANDY BESHEAR EX-OFFICIO MEMBER N/A
Director
$0 $0 $0
DENNIS K BERMAN MEMBER N/A
Director
$0 $0 $0
CHRISTEN BOONE MEMBER N/A
Director
$0 $0 $0
GARY BRASWELL MEMBER N/A
Director
$0 $0 $0
MIKE BUCKENTIN MEMBER N/A
Director
$0 $0 $0
MASON DYER MEMBER N/A
Director
$0 $0 $0
D TODD DAVIS MEMBER N/A
Director
$0 $0 $0
ERIC G FARRIS VICE CHAIR N/A
Officer Director
$0 $0 $0
LESLIE FUGATE MEMBER N/A
Director
$0 $0 $0
VINCE GABBERT MEMBER N/A
Director
$0 $0 $0
TREY GRAYSON CHAIRMAN N/A
Officer Director
$0 $0 $0
JASON HOWELL MEMBER N/A
Director
$0 $0 $0
GRETCHEN M HUNT MEMBER N/A
Director
$0 $0 $0
LUTHER DEATON JR MEMBER N/A
Director
$0 $0 $0
JAMIE LINK MEMBER N/A
Director
$0 $0 $0
BILL MALONE TREASURER N/A
Officer Director
$0 $0 $0
WAYNE M MARTIN MEMBER N/A
Director
$0 $0 $0
SRINI MATAM MEMBER N/A
Director
$0 $0 $0
CAROLEA MILLS MEMBER N/A
Director
$0 $0 $0
WILLIAM E MUDD MEMBER N/A
Director
$0 $0 $0
OJ OLEKA MEMBER N/A
Director
$0 $0 $0
PAUL E PATTON MEMBER N/A
Director
$0 $0 $0
TOM POLAND MEMBER N/A
Director
$0 $0 $0
LAURA COLEMAN PRTICHARD MEMBER N/A
Director
$0 $0 $0
NEIL RAMSEY MEMBER N/A
Director
$0 $0 $0
SHANNON RICKETT MEMBER N/A
Director
$0 $0 $0
JOHN ROACH MEMBER N/A
Director
$0 $0 $0
BLAIR SKIDMORE MEMBER N/A
Director
$0 $0 $0
HAROLD H SMITH MEMBER N/A
Director
$0 $0 $0
ALAN M STEIN VICE CHAIR N/A
Officer Director
$0 $0 $0
VACANT SECRETARY N/A
Officer Director
$0 $0 $0
SOPHIA VOSKUHL MEMBER N/A
Director
$0 $0 $0
WHITNEY FRAZIER WATT MEMBER N/A
Director
$0 $0 $0
MARK C WHITLOW MEMBER N/A
Director
$0 $0 $0
ERICA LEE WILLIAMS MEMBER N/A
Director
$0 $0 $0
PHILEPIA J WILLIAMS MEMBER N/A
Director
$0 $0 $0
THE REV ANISA COTTRELL WILLIS MEMBER N/A
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 $2,387,806 $2,741,669 $302,801 $-353,863
2022 $2,143,848 $2,498,016 $475,523 $-354,168
2021 $2,188,206 $2,411,791 $585,903 $-223,585
2020 $1,989,021 $1,551,366 $729,855 $437,655
2019 $2,397,728 $2,440,656 $299,911 $-42,928
2018 $2,295,370 $2,337,978 $347,895 $-42,608
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