Granite Education Foundation

EIN: 942951639 501(c)(3) Education

Salt Lake City, UT

Total Revenue
$6,419,316
Total Expenses
$6,322,001
Total Assets
$4,271,128
Net Assets
$3,873,902
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
UT
Principal Officer
Jadee Talbot
Phone
8012636236
Tax Period
2024-07-01 to 2025-06-30

Granite Education Foundation, founded in 1988, is a community nonprofit in the Education sector that reported $6.4M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum.

Mission

The Granite Education Foundation's mission is to reduce barriers to learning and increase access to opportunities for students and educators in the Granite School District.

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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 $6,334,280
Program Service Revenue $0
Investment Income $85,036
Other Revenue $0
TOTAL REVENUE $6,419,316

Expense Breakdown

Grants Paid $4,691,520
Salaries & Benefits $732,467
Fundraising Expenses $157,831
Program Expenses $5,913,724
Other Expenses $898,014
TOTAL EXPENSES $6,322,001

Year-over-Year Comparison

2024 2023 Change
Revenue $6,419,316 $4,797,645 +0.3%
Expenses $6,322,001 $4,629,503 +0.4%
Net Income $97,315 $168,142 -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

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
10245

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
2
$215,806
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Carrie Johnson Board Chair 1.00
Officer Director
$0 $0 $0
Randy Woodbury Board Member 1.00
Director
$0 $0 $0
Anthony Bennett Board Member 1.00
Director
$0 $0 $0
David James Board Member 1.00
Director
$0 $0 $0
Garrett Laws Board Member 1.00
Director
$0 $0 $0
Katharine Newton Board Member 1.00
Director
$0 $0 $0
Richard Madsen II Board Member 1.00
Director
$0 $0 $0
Robyn Eccles Board Member 1.00
Director
$0 $0 $0
Sean Marchant Board Member 1.00
Director
$0 $0 $0
Terri Heyduk Board Member 1.00
Director
$0 $0 $0
Lynn Rada Board Member 1.00
Director
$0 $0 $0
Leslie Bell Board Member 1.00
Director
$0 $0 $0
Jadee Talbot CEO 52.00
Officer
$0 $60,813 $215,806
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 $6,419,316 $6,322,001 $4,271,128 $97,315
2024 No data No data No data No data
2023 $4,364,698 $4,216,541 $3,555,781 $148,157
2022 $3,029,089 $3,231,950 $3,539,208 $-202,861
2021 $4,697,989 $4,779,411 $3,685,404 $-81,422
2020 $3,546,400 $3,769,290 $3,132,862 $-222,890
2019 $5,201,702 $5,152,448 $3,358,540 $49,254
2019 $5,201,702 $5,152,448 $3,358,540 $49,254
2018 $5,043,588 $4,546,758 $3,386,317 $496,830
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