GOVERNOR'S SCHOLARS PROGRAM FOUNDATION INC

EIN: 611393028 501(c)(3) Philanthropy & Grantmaking

FRANKFORT, KY

Total Revenue
$880,831
Total Expenses
$737,843
Total Assets
$4,257,048
Net Assets
$4,200,789
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
KY
Principal Officer
WILLIAM MALONE
Phone
5022094420
Tax Period
2024-01-01 to 2024-12-31

GOVERNOR'S SCHOLARS PROGRAM FOUNDATION INC, founded in 2001, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $881K in total revenue in fiscal year 2024. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $143K, a strong 16% operating margin.

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.

Program Service Accomplishments

Program 1
Expenses: $620,110 Revenue: $36,413

FINANCIAL SUPPORT PROVIDED TO VARIOUS EDUCATIONAL PROGRAMS OF THE GOVERNOR'S SCHOLARS PROGRAM, INC.

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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 $586,269
Program Service Revenue $0
Investment Income $258,149
Other Revenue $36,413
TOTAL REVENUE $880,831

Expense Breakdown

Grants Paid $450,000
Salaries & Benefits $151,145
Fundraising Expenses $0
Program Expenses $620,110
Other Expenses $136,698
TOTAL EXPENSES $737,843

Year-over-Year Comparison

2024 2023 Change
Revenue $880,831 $558,834 +0.6%
Expenses $737,843 $690,202 +0.1%
Net Income $142,988 $-131,368 -2.1%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
9
Employees
1
Volunteers
9

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
4
$141,521
Total Directors
10
$141,521
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DOUG DRAUT PRESIDENT/SECRETARY 40.00
Officer Director
$125,660 $15,861 $141,521
ALAN STEIN CHAIR 0.50
Officer Director
$0 $0 $0
VINCE GABBERT VICE CHAIR 0.50
Officer Director
$0 $0 $0
WILLIAM MALONE TREASURER 0.50
Officer Director
$0 $0 $0
LAURA COLEMAN PRITCHARD BOARD MEMBER 0.25
Director
$0 $0 $0
HAROLD H HAL SMITH BOARD MEMBER 0.25
Director
$0 $0 $0
WAYNE M MARTIN BOARD MEMBER 0.25
Director
$0 $0 $0
TREY GRAYSON BOARD MEMBER 0.25
Director
$0 $0 $0
MIKE BUCKENTIN BOARD MEMBER 0.25
Director
$0 $0 $0
SRINI MATAM BOARD MEMBER 0.25
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 No data No data No data No data
2024 $880,831 $737,843 $4,257,048 $142,988
2023 $558,834 $690,202 $3,972,731 $-131,368
2022 $651,381 $548,922 $3,597,407 $102,459
2021 $718,246 $589,801 $4,012,760 $128,445
2020 $503,055 $339,078 $3,381,969 $163,977
2019 $606,177 $745,882 $2,971,384 $-139,705
2018 $676,681 $640,341 $2,801,417 $36,340
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