Governors Scholars Program Inc
- Assets
- $302.8k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Frankfort, KY
- Founding
- 12/1983
- Data as of
- 12/2023
- EIN
- 61-1026274
Organization Overview
Governors Scholars Program Inc is located in Frankfort, KY. The organization was established in 1983. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 12/2023, Governors Scholars Program Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Governors Scholars Program 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 12/2023, Governors Scholars Program Inc generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH SCHOOL SENIORS WITH OPPORTUNITIES FOR GROWTH IN ACADEMICS AND SOCIAL AREAS, AS WELL AS PERSONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM PLACED HIGH SCHOOL RISING SENIORS ON 3 COLLEGE CAMPUSES FOR FIVE WEEKS OF ACADEMIC, SOCIAL AND PERSONAL GROWTH. 1,052 STUDENTS PARTICIPATED IN THE PROGRAM IN 2023
THE PROGRAM TRACKS ALUMNI AND HOSTS A WEBSITE FOR GSP ALUMNI.
DIVERSITY INITIATIVES PROGRAM. STAFF TRAVEL ACROSS THE STATE TO HOLD WORKSHOPS TO ENCOURAGE STUDENTS TO APPLY AND TO HELP THEM COMPLETE COMPETITIVE APPLICATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aris Cedeno Executive Di | Officer | 40 | $160,000 |
Aaron Thompson Ex-Officio Member | Trustee | $0 | |
Andy Beshear Ex-Officio Member | Trustee | $0 | |
Dennis K Berman Member | Trustee | $0 | |
Christen Boone Member | Trustee | $0 | |
Gary Braswell Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $445,593 |
| Government grants | $1,939,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $20,593 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,385,293 |
| Total Program Service Revenue | $0 |
| Investment income | $2,513 |
| 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 | $2,387,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,000 |
| Compensation of current officers, directors, key employees. | $72,573 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $395,111 |
| Pension plan accruals and contributions | $33,602 |
| Other employee benefits | $0 |
| Payroll taxes | $42,664 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,977 |
| Office expenses | $31,078 |
| Information technology | $9,373 |
| Royalties | $0 |
| Occupancy | $30,776 |
| Travel | $25,434 |
| 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 | $1,345 |
| Insurance | $76,384 |
| All other expenses | $183,967 |
| Total functional expenses | $2,741,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $245,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,830 |
| 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 | $5,417 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,945 |
| Total assets | $302,801 |
| Accounts payable and accrued expenses | $9,547 |
| 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 | $44,945 |
| Total liabilities | $54,492 |
| Net assets without donor restrictions | $248,309 |
| 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 | $302,801 |