GOVERNORS RURAL EDUCATION FOUNDATI… - Form 990 Financial Data

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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

2021

Legal Domicile

Principal Officer

ALEC RICHARDSON

Phone

7312673183

Tax Period

2024-07-01 to 2025-06-30

GOVERNORS RURAL EDUCATION FOUNDATION, founded in 2021, is a mid-sized nonprofit in the Education sector that reported $12.5M in total revenue in fiscal year 2024.

Mission

THE ACTIVITY OF THE CORPORATION IS TO IMPROVE COLLEGE ACCESS AND COLLEGE READINESS FOR TENNESSEE STUDENTS.

Program Service Accomplishments

Program 1

Expenses: $12,500,080

THE ORGANIZATION PROVIDED FUNDING TO OTHER 501(C)3 ORGANIZATIONS WITH DEVELOPED AND PROVEN PROGRAMS THAT WORK TO IMPROVE COLLEGE ACCESS AND COLLEGE READINESS FOR TENNESSEE STUDENTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $12,500,000

Program Service Revenue $0

Investment Income $12,934

Other Revenue $0

TOTAL REVENUE $12,512,934

Expense Breakdown

Grants Paid $12,500,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $12,500,080

Other Expenses $5,536

TOTAL EXPENSES $12,505,536

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,512,934	$12,573,390	0.0%
Expenses	$12,505,536	$15,000,100	-0.2%
Net Income	$7,398	$-2,426,710	-1.0%

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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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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACOB BAGGETT	DIRECTOR	2.00	Director	$0	$0	$0
KEITH CARVER	DIRECTOR	2.00	Director	$0	$0	$0
SHERRY RAY	DIRECTOR	2.00	Director	$0	$0	$0
ALEC RICHARDSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
SHARON ROBERTS	DIRECTOR	2.00	Director	$0	$0	$0
WARREN WELLS	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
2025	$12,512,934	$12,505,536	$5,344,385	$7,398
2024	$12,573,390	$15,000,100	$86,987	$-2,426,710

GOVERNORS RURAL EDUCATION FOUNDATION