Gvec Charitable Foundation
- Assets
- $135.2k
- Revenue
- $367.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Gonzales, TX
- Founding
- 06/2012
- Data as of
- 12/2022
- EIN
- 45-3420216
Organization Overview
Gvec Charitable Foundation is located in Gonzales, TX. The organization was established in 2012. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gvec Charitable Foundation 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, Gvec Charitable Foundation generated $367.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $400.9k during the year ending 12/2022. While expenses have increased by 1.7% 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.
Since 2014, Gvec Charitable Foundation has awarded 162 individual grants totaling $2,775,536. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDING ASSISTANCE TO LOCAL NON-PROFIT GROUPS AND CIVIC ORGANIZATIONS FOR COMMUNITY DEVELOPMENT AND IMPROVEMENT PROJECTS AND PROVIDE ASSISTANCE FOR LOW INCOME INDIVIDUALS WITHIN THE GUADALUPE VALLEY ELECTRIC COOPERATIVE SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ASSISTANCE TO NEEDY INDIVIDUALS WITH THEIR UTILITY BILLS AND THROUGH DONATIONS TO LOCAL NON-PROFIT GROUPS AND CIVIC ORGANIZATIONS. DURING 2022, 277 INDIVIDUALS AND 20 NOT FOR PROFIT ORGANIZATION OR GOVERNMENTAL ENTITIES RECEIVED ASSISTANCE FROM THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Alvarez Vice President | OfficerTrustee | 1 | $0 |
Gary Korn President | OfficerTrustee | 1 | $0 |
Ceason Barnick Secretary/treasurer | OfficerTrustee | 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 | $367,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $367,341 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $367,341 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $348,706 |
| Grants and other assistance to domestic individuals. | $48,681 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $1,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,235 |
| Advertising and promotion | $0 |
| Office expenses | $923 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $400,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,532 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $29,681 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $135,213 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $3,785 |
| 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 | $3,785 |
| Net assets without donor restrictions | $131,428 |
| Net assets with donor restrictions | $0 |
| 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 | $135,213 |
Grants Awarded
Over the last fiscal year, Gvec Charitable Foundation has awarded $342,629 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
TRULIGHT127 MINISTRIES INC PURPOSE: CONSTRUCTION OF AN ACADEMIC & PHYSICAL FITNESS FACILITY | $20,000 |
LAVACA SWIMMING POOL INC PURPOSE: MISCELLANEOUS SAFTEY UPGRADES | $20,000 |
HABITABLE SPACES PURPOSE: COMMERCIAL EQUIPMENT UPGRADE FOR FACILITY TEACHING KITCHEN | $20,000 |
SCHERTZ-CIBOLO CEMETERY ASSOCIATION PURPOSE: PURCHASE OF A RAIN CATCH SYSTEM WITH A SOLAR POWERED PUMP | $20,000 |
YORKTOWN ASSISTANCE MINISTRIES PURPOSE: PURCHASE OF AN INDUSTRIAL COOLING FAN FOR VOLUNTEER WORKERS | $8,000 |
THE NEW BERLIN COMMUNITY CLUB OF NEW BERLIN GUADALUPE COUNTY TEXAS PURPOSE: COMPLETE REMODELING OF THE CENTER | $20,000 |