Galt Foundation
- Assets
- $12.0m
- Revenue
- $17.2m
- Investments
- $0.0
- Employees
- 1,930
- Location
- Salem, OR
- Founding
- 10/1999
- Data as of
- 10/2023
- EIN
- 93-1268744
Organization Overview
Galt Foundation is located in Salem, OR. The organization was established in 1999. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 10/2023, Galt Foundation employed 1,930 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galt 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 10/2023, Galt Foundation generated $17.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $18.0m during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 8 years. 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
THE MISSION OF GALT FOUNDATION IS TO PROVIDE, PROMOTE, AND EXPAND EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH DISABILITIES AND OTHER VOCATIONAL BARRIERS TO EMPLOYMENT.THE OBJECTIVE IS TO WORK TOWARD A DIVERSE AND INCLUSIVE EMPLOYMENT COMMUNITY THAT LEADS TO SELF-SUFFICIENCY AND DECREASES RELIANCE ON TAX SUPPORTED PROGRAMS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GALT FOUNDATION IS A NON-PROFIT STAFFING SERVICE THAT PROVIDES EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH DISABILITIES AND OTHER VOCATIONAL DISADVANTAGES. GALT FOUNDATION IS CERTIFIED AS A QUALIFIED REHABILITATION PROGRAM IN OREGON, A COMMUNITY REHABILITATION PROGRAM IN OKLAHOMA AND PENNSYLVANIA. THESE CERTIFICATIONS QUALIFY GALT FOUNDATION TO CONTRACT WITH LOCAL AND STATE GOVERNMENT ENTITIES TO PROVIDE THEM WITH TEMPORARY STAFF.GALT FOUNDATION PROVIDED EMPLOYMENT FOR 2,381 INDIVIDUALS, WITH 75% OF THEIR RECRUITED EMPLOYEES HAVING A DISABILITY AND A MAJORITY OF THE REMAINDER HAVING ONE OR MORE VOCATIONAL DISADVANTAGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Evans Chair | OfficerTrustee | 5 | $57,500 |
John Kemp Vice Chair | OfficerTrustee | 6 | $37,500 |
John Williams Treasurer | OfficerTrustee | 5 | $47,500 |
Rohini Anand Director | Trustee | 2.1 | $45,000 |
Robert Stern Secretary | OfficerTrustee | 3 | $50,000 |
Eleanor Alvarez Director | Trustee | 3 | $35,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $16,790,485 |
| Investment income | $59,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$49,017 |
| Net Gain/Loss on Asset Sales | $197,293 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,153,129 |
| 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. | $406,283 |
| Compensation of current officers, directors, key employees. | $2,658 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,355,955 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $340,422 |
| Payroll taxes | $1,831,371 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,763 |
| Fees for services: Accounting | $42,421 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,877 |
| Fees for services: Other | $36,650 |
| Advertising and promotion | $121,598 |
| Office expenses | $276,089 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,490 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $307,650 |
| Insurance | $143,139 |
| All other expenses | $204,211 |
| Total functional expenses | $18,048,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,977,892 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,963,444 |
| 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 | $217,908 |
| Net Land, buildings, and equipment | $3,012,397 |
| Investments—publicly traded securities | $3,710,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $31,845 |
| Other assets | $78,739 |
| Total assets | $11,993,149 |
| Accounts payable and accrued expenses | $532,892 |
| 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 | $1,285,891 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,818,783 |
| Net assets without donor restrictions | $10,174,366 |
| 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 | $11,993,149 |