GARNET TRUST FOUNDATION (EIN 920463073) - Form 990 Financial Analysis & Trantor Score

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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

2022

Legal Domicile

Principal Officer

DAVID SEATON

Phone

4076709738

Tax Period

2023-01-01 to 2023-12-31

GARNET TRUST FOUNDATION, founded in 2022, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $3.5M in total revenue in fiscal year 2023. Revenue surged 11645% from the prior year, signaling strong growth momentum.

Mission

TO HELP PROMOTE, SUPPORT, AND ADVANCE CHARITABLE ORGANIZATIONS AND CAUSES, EDUCATE THE GENERAL PUBLIC REGARDING THESE CHARTIABLE ORGANIZATIONS AND CAUSES, AND TO MAKE POSITIVE IMPACTS ON COMMUNITIES, BY UTILIZING THE NAME-IMAGE-LIKENESS AND NOTORIETY OF UNIVERSITY OF SOUTH CAROLINA STUDNET-ATHLETES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,513,046

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $3,513,046

Expense Breakdown

Grants Paid $0

Salaries & Benefits $154,384

Fundraising Expenses $0

Program Expenses $3,422,042

Other Expenses $3,345,763

TOTAL EXPENSES $3,500,147

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,513,046	$29,911	+116.4%
Expenses	$3,500,147	$9,502	+367.4%
Net Income	$12,899	$20,409	-0.4%

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

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
BARRY BODIFORD	MEMBER	1.00	Director	$0	$0	$0
RICHARD KAY	MEMBER	1.00	Director	$0	$0	$0
SCAT SCATURRO	MEMBER	1.00	Director	$0	$0	$0
KEN LONG	MEMBER	1.00	Director	$0	$0	$0
MARCUS LATTIMORE	MEMBER	1.00	Director	$0	$0	$0
TIM PACKER	MEMBER	1.00	Director	$0	$0	$0
BRENT SKINNER	MEMBER	1.00	Director	$0	$0	$0
JERRY INMAN	MEMBER	1.00	Director	$0	$0	$0
DAVID SEATON	CHARIMAN	1.00	Officer	$0	$0	$0
CANDACE KNOX	SECRETARY	1.00	Officer	$0	$0	$0
MARKEISHA GRANT	VICE CHAIRMAN	1.00	Officer	$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	$3,513,046	$3,500,147	$33,308	$12,899

GARNET TRUST FOUNDATION