THE GLOUCESTER INSTITUTE

EIN: 680623396 501(c)(3) Education

GLOUCESTER, VA

Total Revenue
$626,516
Total Expenses
$1,105,618
Total Assets
$1,858,518
Net Assets
$-1,008,823
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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
2004
Legal Domicile
VA
Principal Officer
WINONA COLES
Tax Period
2023-01-01 to 2023-12-31

THE GLOUCESTER INSTITUTE, founded in 2004, is a small nonprofit in the Education sector that reported $627K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $1.1M exceeded revenue, resulting in a 76% operating deficit.

Mission

TO PROVIDE AN INTELLECTUALLY SAFE ENVIRONMENT WHERE IDEAS CAN BE DISCUSSED AND TRANSFORMED INTO PRACTICAL SOLUTIONS THAT PRODUCE RESULTS. TO CULTIVATE A SOCIETY OF SOLTIONISTS WITHIN THE MINORITY COMMUNITITES. EQUIP SCHOLARS WITH THE INTELLECTUAL, MORAL, AND FINANCIAL SUPPOR

Program Service Accomplishments

Program 1
Expenses: $898,253

EMERGING LEADERS PROGRAM ELP STRENGTHENS STUDENTS CORE WRITING, SPEAKING, AND CRITICAL THINKING SKILLS. EMERGING LEADERS ENGAGED IN UNIQUE LEARNING AND MENTORING OPPORTUNITIES THAT CORRESPOND TO...

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EMERGING LEADERS PROGRAM ELP STRENGTHENS STUDENTS CORE WRITING, SPEAKING, AND CRITICAL THINKING SKILLS. EMERGING LEADERS ENGAGED IN UNIQUE LEARNING AND MENTORING OPPORTUNITIES THAT CORRESPOND TO THEIR PERSONAL DEVELOPMENT AND LEADERSHIP CAPABILITIES

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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 $591,410
Program Service Revenue $98,548
Investment Income $-66,923
Other Revenue $3,481
TOTAL REVENUE $626,516

Expense Breakdown

Grants Paid $0
Salaries & Benefits $254,983
Fundraising Expenses $25,036
Program Expenses $898,253
Other Expenses $847,993
TOTAL EXPENSES $1,105,618

Year-over-Year Comparison

2023 2022 Change
Revenue $626,516 $667,814 -0.1%
Expenses $1,105,618 $884,219 +0.3%
Net Income $-479,102 $-216,405 +1.2%
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

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Governance

Voting Members
7
Independent Members
5
Employees
9
Volunteers
15

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
1
$62,292
Total Directors
6
$0
Key Employees
1
$62,292
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WINONA COLES EXEC DIRECTOR 40.00
Officer Key Emp
$62,292 $0 $62,292
JOHN LITTEL ESQ DIRECTOR 2.00
Director
$0 $0 $0
ELIZABETH LEVEL DIRECTOR 2.00
Director
$0 $0 $0
CARL ELLIS DIRECTOR 2.00
Director
$0 $0 $0
KAY COLES JAMES BOARD CHAIR 10.00
Director
$0 $0 $0
WILLIAM NANCE TREASURER 2.00
Director
$0 $0 $0
MAURICE KUYKENDOLL DIRECTOR 2.00
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
2024 No data No data No data No data
2023 $626,516 $1,105,618 $1,858,518 $-479,102
2023 $626,516 $1,105,618 $1,858,518 $-479,102
2022 $667,814 $884,219 $2,210,321 $-216,405
2021 $163,684 $573,947 $2,180,673 $-410,263
2020 $749,327 $557,682 $2,602,334 $191,645
2019 $890,289 $611,032 $2,374,178 $279,257
2018 $746,409 $639,565 $2,028,218 $106,844
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