Galveston College Foundation

EIN: 760512266 501(c)(3) Education

Galveston, TX

Total Revenue
$3,262,568
Total Expenses
$1,668,416
Total Assets
$28,413,500
Net Assets
$28,366,366
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
TX
Principal Officer
Thomas Schwenk
Phone
4099441303
Tax Period
2023-09-01 to 2024-08-31

Galveston College Foundation, founded in 1996, is a community nonprofit in the Education sector that reported $3.3M in total revenue in fiscal year 2023. Revenue surged 203% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 49% operating margin.

Mission

To support Galveston College's mission of advancing people's lives through lifelong learning.

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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 $1,850,502
Program Service Revenue $0
Investment Income $1,424,553
Other Revenue $-12,487
TOTAL REVENUE $3,262,568

Expense Breakdown

Grants Paid $1,466,399
Salaries & Benefits $0
Fundraising Expenses $6,701
Program Expenses $1,469,417
Other Expenses $202,017
TOTAL EXPENSES $1,668,416

Year-over-Year Comparison

2023 2022 Change
Revenue $3,262,568 $1,077,669 +2.0%
Expenses $1,668,416 $533,546 +2.1%
Net Income $1,594,152 $544,123 +1.9%
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
19
Independent Members
19
Employees
N/A
Volunteers
19

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
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Keith McFatridge Chair 1.00
Officer Director
$0 $0 $0
Thomas Schwenk Vice Chair 1.00
Officer Director
$0 $0 $0
S Benjamin Shabot Treasurer 1.00
Officer Director
$0 $0 $0
Carol A Hodges Secretary 1.00
Officer Director
$0 $0 $0
Melanie Buck Member 1.00
Director
$0 $0 $0
James Clark Member 1.00
Director
$0 $0 $0
Michael Cordray Member 1.00
Director
$0 $0 $0
Elizabeth Lawhorn Cryder Member 1.00
Director
$0 $0 $0
Philesha Evans Member 1.00
Director
$0 $0 $0
John Paul Gaido Member 1.00
Director
$0 $0 $0
Jason Hardcastle Member 1.00
Director
$0 $0 $0
Anna Hyatt Member 1.00
Director
$0 $0 $0
Harris Kempner Jr Member 1.00
Director
$0 $0 $0
Betty Massey Member 1.00
Director
$0 $0 $0
Kyle McFatridge Member 1.00
Director
$0 $0 $0
Walter J Meyer III Member 1.00
Director
$0 $0 $0
Cynda Mullikin Member 1.00
Director
$0 $0 $0
Reid Nelson Member 1.00
Director
$0 $0 $0
Cynthia Smith Member 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
2024 $3,262,568 $1,668,416 $28,413,500 $1,594,152
2023 $1,077,669 $533,546 $24,122,530 $544,123
2022 $7,009,018 $460,680 $22,851,553 $6,548,338
2021 $1,761,845 $409,755 $20,425,906 $1,352,090
2020 $769,158 $423,582 $16,609,784 $345,576
2019 $965,202 $2,756,961 $15,333,544 $-1,791,759
2018 $4,021,972 $399,172 $17,469,533 $3,622,800
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