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Nonprofiteer
← GFOA ENDOWMENT CORPORATION

Form 990 for tax year 2023

Filed by GFOA ENDOWMENT CORPORATION.

Totals

Total revenue
$986,689
Total expenses
$322,085
Contributions and grants received
$0
Grants paid
$309,917
Program service revenue
$0
Investment income
$986,689
Other revenue
$0
Total assets, end of year
$36,716,386
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$36,716,386
Program services expenses (Part IX)
$309,917
Management and general expenses
$12,168
Fundraising expenses
$0
Program service expenses (Part III)
$309,917

Program services were 96.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $670,473 · excluded $670,473

  • 7a · Gross sales of assets other than inventory

    securities $1,915,316

  • 7b · Less cost or other basis and sales expenses

    securities $1,599,100

  • 7c · Gain or loss

    securities $316,216

  • 7d · Net gain or loss

    total $316,216 · excluded $316,216

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $309,917 · program services $309,917

  • 11f · Fees: investment management

    total $12,153 · management and general $12,153

  • 13 · Office expenses

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $28,228 · end of year $100,720

  • 11 · Investments: publicly traded securities

    beginning of year $30,671,294 · end of year $36,297,606

  • 15 · Other assets

    beginning of year $72,134 · end of year $318,060

  • 27 · Net assets without donor restrictions

    beginning of year $30,771,656 · end of year $36,716,386

Mission and programs · 2023

Mission

The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association.

  • The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association.

    Expenses $309,917 · Grants $309,917

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Laura Allen

    President

    Total calculated
    $0
    Hours/week
    0.1 + 4.5 related
  • Tanya Garost

    President-Elect

    Total calculated
    $0
    Hours/week
    0.1 + 1.25 related
  • Terri Velasquez

    Past President

    Total calculated
    $0
    Hours/week
    0.1 + 1.25 related
  • Michael A Bryant

    Past President until 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 1.25 related
  • Sonia Andrews

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Lunda Asmani

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Laurie M Brewer

    Board Member until 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Jennifer Brown

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Veronica Carrillo

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Timothy Ewell

    Board Member as of 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Bruce Fisher

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Jason Greene

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Edward Gin

    Board Member as of 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Anne Harty

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Rafiu O Ighile

    Board Member until 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Susan Iverson

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Brandon Kauffman

    Board Member until 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Grace Martinez

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Margaret Moggia

    Board Member until 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Kendel Taylor

    Board Member

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Debra Roberts

    Board Member as of 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • David Schmiedicke

    Board Member as of 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Diane Waldron

    Board Member as of 6/13/2023

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related
  • Christopher P Morrill

    Executive Director, CEO

    Total calculated
    $513,437
    From this org
    $0
    From related orgs
    $433,400
    Other
    $80,037
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $428,888 related
    Bonus
    $0 + $1,500 related
    Other
    $0 + $3,012 related
    Deferred
    $0 + $50,746 related
    Nontaxable benefits
    $0 + $29,291 related
    Filer's total
    $0 + $513,437 related
  • Sarah Lombardi

    Director of Finance

    Total calculated
    $255,060
    From this org
    $0
    From related orgs
    $216,294
    Other
    $38,766
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,595 related
    Bonus
    $0 + $1,500 related
    Other
    $0 + $199 related
    Deferred
    $0 + $27,720 related
    Nontaxable benefits
    $0 + $11,046 related
    Filer's total
    $0 + $255,060 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
Compensation was established and paid by Government Finance Officers Association ("GFOA"), a related organization. GFOA used the following to establish the CEO's compensation: - Compensation committee - Independent compensation consultant - Form 990 of other organizations - Compensation survey or study - Approval by the board or compensation committee

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
7 February 2025
IRS schema version
2023v6.0
Source object
202530489349300613

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