Goolsby Educational Fund
- Assets
- $785.7k
- Revenue
- $68.4k
- Investments
- $435.5k
- Employees
- 0
- Location
- Marion, VA
- Founding
- 08/1967
- Data as of
- 12/2021
- EIN
- 54-6067955
Organization Overview
Goolsby Educational Fund is located in Marion, VA. The organization was established in 1967. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goolsby Educational Fund 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 12/2021, Goolsby Educational Fund generated $68.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $76.0k during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 7 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 2016, Goolsby Educational Fund has awarded 171 individual grants totaling $202,600. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
33 EDUCATIONAL GRANTS TO QUALIFIED STUDENTS BASED UPON NEED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Js Staley Jr Trustee | 0 | $0 | |
Joel G Pugh Trustee | 0 | $0 | |
Michael A Davidson Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,573 |
| Dividends & Interest | $32,983 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $18,458 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,345 |
| Total Revenue | $68,359 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,148 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,101 |
| Depreciation | $0 |
| Occupancy | $1,200 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,540 |
| Total operating and administrative expenses | $27,489 |
| Contributions, gifts, grants paid | $48,500 |
| Total expenses and disbursements | $75,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,442 |
| Savings and temporary cash investments | $46,366 |
| Net Accounts receivable | $263,380 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $25,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $785,725 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Goolsby Educational Fund has awarded $48,500 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
MICHAEL HAGA PURPOSE: EDUCATION | $2,500 |
BAILEY KING PURPOSE: EDUCATION | $2,250 |
CHLOE PENNINGTON PURPOSE: EDUCATION | $2,250 |
CHLOE ROBINSON PURPOSE: EDUCATION | $2,250 |
ABIGAIL JENNINGS PURPOSE: EDUCATION | $2,250 |
ALEXANDER JOHNSON PURPOSE: EDUCATION | $2,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Licensing & Ventures Group Charlottesville, VA | $21,114,215 | $9,580,641 |
Phoenix Academy Inc High Point, NC | $3,025,069 | $10,364,069 |
Elizabeth City State University Foundation Elizabeth City, NC | $21,052,714 | $2,780,872 |
Johns Hopkins University Retiree Medical Benefits Tr Baltimore, MD | $393,460,709 | $90,822,229 |
Duke Ellington School Of The Arts Project Washington, DC | $6,618,395 | $8,383,151 |
Laborers-Employers Cooperation And Education Trust Washington, DC | $20,406,637 | $8,972,632 |
Unc-G Excellence Foundation Greensboro, NC | $187,420,574 | $12,267,071 |
University Of Maryland Medical System Foundation Inc Baltimore, MD | $91,803,907 | $14,920,300 |
University Of North Carolina At Asheville Foundation Inc Asheville, NC | $61,754,429 | $7,423,002 |
Marshall-Wythe School Of Law Foundation Williamsburg, VA | $56,391,482 | $7,245,738 |
Horatio Alger Endowment Fund Alexandria, VA | $322,951,010 | $58,271,352 |
Old Dominion Athletic Foundation Norfolk, VA | $75,318,666 | $6,634,127 |