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← GRAYSON COUNTY COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by GRAYSON COUNTY COLLEGE FOUNDATION INC.

Totals

Total revenue
$2,434,645
Total expenses
$824,527
Contributions and grants received
$1,552,259
Grants paid
$589,080
Program service revenue
$0
Investment income
$915,967
Other revenue
-$33,581
Total assets, end of year
$23,731,128
Total liabilities, end of year
$9,851
Net assets or fund balances, end of year
$23,721,277
Program services expenses (Part IX)
$623,333
Management and general expenses
$148,976
Fundraising expenses
$52,218
Program service expenses (Part III)
$623,333

Program services were 75.6% 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.

  • 1c · Fundraising events

    $103,544

  • 1f · All other contributions, gifts and grants

    $1,448,715

  • 3 · Investment income

    total $715,792 · excluded $715,792

  • 7a · Gross sales of assets other than inventory

    securities $7,011,452

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

    securities $6,811,277

  • 7c · Gain or loss

    securities $200,175

  • 7d · Net gain or loss

    total $200,175 · excluded $200,175

  • 8a · Fundraising events: gross income

    $40

  • 8a · Fundraising events: contributions included on line 1c

    $103,544

  • 8b · Fundraising events: direct expenses

    $33,621

  • 8c · Net income from fundraising events

    total -$33,581 · excluded -$33,581

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $589,080 · program services $589,080

  • 11f · Fees: investment management

    total $129,837 · management and general $129,837

  • 22 · Depreciation, depletion and amortization

    total $5,438 · management and general $5,438

  • 24a · Other expenses: SERVICES AND SUPPLIES

    total $100,172 · program services $34,253 · management and general $13,701 · fundraising $52,218

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $767,046 · end of year $910,336

  • 7 · Other notes and loans receivable

    beginning of year $225,471 · end of year $227,167

  • 10a · Land, buildings and equipment: cost or other basis

    $1,180,520

  • 10b · Land, buildings and equipment: accumulated depreciation

    $90,102

  • 10c · Land, buildings and equipment, net

    beginning of year $1,095,856 · end of year $1,090,418

  • 11 · Investments: publicly traded securities

    beginning of year $18,187,967 · end of year $21,503,207

  • 17 · Accounts payable and accrued expenses

    beginning of year $494 · end of year $9,851

  • 27 · Net assets without donor restrictions

    beginning of year $327,112 · end of year $341,063

  • 28 · Net assets with donor restrictions

    beginning of year $19,948,734 · end of year $23,380,214

Mission and programs · 2023

Mission

THE FOUNDATION'S MISSION IS "FULFILLING DONOR WISHES FOR THE STUDENT SUCCESS." IT SERVES GRAYSON COLLEGE THROUGH THE DEVELOPMENT OF PUBLIC UNDERSTANDING AND PHILANTHROPIC SUPPORT. THE FOUNDATION ENCOURAGES MUTUALLY BENEFICIAL RELATIONSHIPS BETWEEN THE COLLEGE AND ITS VARIOUS CONSTITUENCIES.

Activities or mission (Part I)

SECURE RESOURCES FOR GRAYSON COLLEGE.

  • SCHOLARSHIPS AWARDED TO STUDENTS.

    Expenses $589,080 · Grants $589,080

  • RESOURCES PROVIDED FOR VARIOUS PROGRAMS AT THE COLLEGE, INCLUDING ASSISTANCE WITH FACILITY IMPROVEMENTS AND EQUIPMENT ACQUISITIONS.

    Expenses $34,253

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

Listed in Part VII

  • Dr Jeremy P McMillen

    PRESIDENT

    Total calculated
    $325,317
    From this org
    $0
    From related orgs
    $273,510
    Other
    $51,807
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,360 related
    Bonus
    $0
    Other
    $0 + $8,150 related
    Deferred
    $0 + $41,433 related
    Nontaxable benefits
    $0 + $10,374 related
    Filer's total
    $0 + $325,317 related

  • Carolyn Kasdorf

    VICE PRESIDENT BUSINESS SERVICES

    Total calculated
    $170,711
    From this org
    $0
    From related orgs
    $148,336
    Other
    $22,375
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,336 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,001 related
    Nontaxable benefits
    $0 + $10,374 related
    Filer's total
    $0 + $170,711 related

  • Randy Truxal

    EXECUTIVE DIRECTOR

    Total calculated
    $151,596
    From this org
    $0
    From related orgs
    $130,951
    Other
    $20,645
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $129,151 related
    Bonus
    $0
    Other
    $0 + $1,800 related
    Deferred
    $0 + $8,851 related
    Nontaxable benefits
    $0 + $11,794 related
    Filer's total
    $0 + $151,596 related

  • Phil Roether

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Randy Hopkins

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Amber Lester

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Diana Williams

    GOLF COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Debbie Plyler

    TRUSTEE REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Wade Graves

    FACULTY REPRESENTATIVE - PARTIAL

    Total calculated
    $0
    Hours/week
    1

  • Danny Ortiz

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Joann Adair

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Melvin Dunlap

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Lyn Jostes

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Laura McCoy

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Brittany Melton

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25

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

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

No itemized grants to organizations 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.

  • GRAYSON COLLEGE

    501(C)(3) · EDUCATION · TX

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202511339349304276

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