The Golden Tornado Scholastic Foundation Inc
- Assets
- $3.2m
- Revenue
- $464.9k
- Investments
- $1.9m
- Employees
- 0
- Location
- Butler, PA
- Founding
- 05/1991
- Data as of
- 12/2022
- EIN
- 25-1653165
Organization Overview
The Golden Tornado Scholastic Foundation Inc is located in Butler, PA. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Tornado Scholastic Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Golden Tornado Scholastic Foundation Inc generated $464.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $314.7k during the year ending 12/2022. While expenses have increased by 9.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS AND CREATIVE TEACHING GRANTS WHICH PROVIDE FUNDS FOR STAFF MEMBERS TO DEVELOP CREATIVE AND UNIQUE PROGRAMS THAT ARE BENEFICIAL TO STUDENTS. STUDENT SCHOLARSHIPS ARE FUNDED THROUGH VARIOUS FUNDRAISERS AND THE BUCK STARTS HERE CAMPAIGN WHERE EMPLOYEES CAN DONATE MONEY THROUGH PAYROLL DEDUCTION.
WEEKEND BACKPACK PROGRAM - SUPPLIES WEEKEND FOOD FOR STUDENTS IN NEED. THE PROGRAM IS AVAILABLE TO ALL STUDENTS IN GRADES KINDERGARTEN THROUGH 5TH GRADE. EACH FRIDAY, CHILDREN ARE PROVIDED CHILD-FRIENDLY, SINGLE SERVING SNACKS AND EASILY PREPARED MEALS IN THE THEIR BACKPACK.
TUFF TORNADO RUN - FUNDRAISING EVENT HELD AT A LOCAL PARK WHERE INDIVIDUALS AND TEAMS COMPETE IN A 2 MILE RUN WITH OBSTACLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Scott Executive Dir. | Officer | 10 | $20,000 |
Jenley Birch Secretary | OfficerTrustee | 1 | $0 |
Dr Carrie Morgan-Davis President | OfficerTrustee | 1 | $0 |
Catherine Rodgers Treasurer | OfficerTrustee | 1 | $0 |
John Reddick Vice President | OfficerTrustee | 1 | $0 |
Frank Cicco Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $362,738 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $362,738 |
| Total Program Service Revenue | $86,979 |
| Investment income | $15,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $464,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,467 |
| Grants and other assistance to domestic individuals. | $160,040 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,508 |
| Advertising and promotion | $0 |
| Office expenses | $3,782 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,849 |
| All other expenses | $325 |
| Total functional expenses | $314,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $895,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $393,722 |
| Investments—other securities | $1,937,898 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,227,009 |
| Accounts payable and accrued expenses | $38,490 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $38,490 |
| Net assets without donor restrictions | $1,065,684 |
| Net assets with donor restrictions | $2,122,835 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,227,009 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Golden Tornado Scholastic Foundation Inc has recieved totaling $55,368.
| Awarding Organization | Amount |
|---|---|
Pittsburgh Foundation Pittsburgh, PA PURPOSE: PHILANTHROPY, VOLUNTARISM, AND GRANTMAKING | $50,179 |
Neal Martin Christensen Foundation Butler, PA PURPOSE: FIGHT AGAINST HUNGER, SCHOLARSHIPS, TEACHER GRANTS, | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $189 |
Endowment Analysis
| Beg. Balance | $2,062,952 |
| Earnings | -$133,979 |
| Net Contributions | $64,264 |
| Grants | $49,520 |
| Ending Balance | $1,943,717 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |