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Nonprofiteer
← GVEC CHARITABLE FOUNDATION

Form 990 for tax year 2022

Filed by GVEC CHARITABLE FOUNDATION.

Totals

Total revenue
$367,341
Total expenses
$400,895
Contributions and grants received
$367,341
Grants paid
$397,387
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$135,213
Total liabilities, end of year
$3,785
Net assets or fund balances, end of year
$131,428
Program services expenses (Part IX)
$397,387
Management and general expenses
$3,508
Fundraising expenses
$0
Program service expenses (Part III)
$397,387

Program services were 99.1% 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.

  • 1f · All other contributions, gifts and grants

    $367,341

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $348,706 · program services $348,706

  • 2 · Grants to domestic individuals

    total $48,681 · program services $48,681

  • 11c · Fees: accounting

    total $1,350 · management and general $1,350

  • 11g · Fees: other

    total $1,235 · management and general $1,235

  • 13 · Office expenses

    total $923 · management and general $923

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $139,193 · end of year $105,532

  • 3 · Pledges and grants receivable

    beginning of year $31,198 · end of year $29,681

  • 18 · Grants payable

    beginning of year $5,409 · end of year $3,785

  • 27 · Net assets without donor restrictions

    beginning of year $164,982 · end of year $131,428

Mission and programs · 2022

Mission

TO PROVIDE FUNDING ASSISTANCE TO LOCAL NON-PROFIT GROUPS AND CIVIC ORGANIZATIONS FOR COMMUNITY DEVELOPMENT AND IMPROVEMENT PROJECTS AND PROVIDE ASSISTANCE FOR LOW INCOME INDIVIDUALS WITHIN THE GUADALUPE VALLEY ELECTRIC COOPERATIVE SERVICE AREA.

  • TO PROVIDE ASSISTANCE TO NEEDY INDIVIDUALS WITH THEIR UTILITY BILLS AND THROUGH DONATIONS TO LOCAL NON-PROFIT GROUPS AND CIVIC ORGANIZATIONS. DURING 2022, 277 INDIVIDUALS AND 20 NOT FOR PROFIT ORGANIZATION OR GOVERNMENTAL ENTITIES RECEIVED ASSISTANCE FROM THE FOUNDATION.

    Expenses $397,387 · Grants $397,387

As filed on the 2022 return.

Listed in Part VII

  • Sean Alvarez

    VICE PRESIDENT

    Total calculated
    $528,105
    From this org
    $0
    From related orgs
    $469,105
    Other
    $59,000
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,428 related
    Bonus
    $0 + $93,318 related
    Other
    $0 + $14,359 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $28,500 related
    Filer's total
    $0 + $528,105 related

  • Gary Korn

    PRESIDENT

    Total calculated
    $371,923
    From this org
    $0
    From related orgs
    $319,404
    Other
    $52,519
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $271,217 related
    Bonus
    $0 + $30,049 related
    Other
    $0 + $18,138 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $22,019 related
    Filer's total
    $0 + $371,923 related

  • Ceason Barnick

    SECRETARY/TREASURER

    Total calculated
    $290,003
    From this org
    $0
    From related orgs
    $241,288
    Other
    $48,715
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,627 related
    Bonus
    $0 + $16,228 related
    Other
    $0 + $16,433 related
    Deferred
    $0 + $23,566 related
    Nontaxable benefits
    $0 + $25,149 related
    Filer's total
    $0 + $290,003 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)

SCHEDULE J, PART II:
ALL COMPENSATION REPORTED ON SCHEDULE J PART II IS RELATED TO THE DIRECTORS' EMPLOYMENT WITH GUADALUPE VALLEY ELECTRIC COOPERATIVE, INC. PER THE BY-LAWS NO DIRECTOR OR MEMBER OF ANY COMMMITTEE OF THE BOARD MAY BE PAID COMPENSATION FOR HIS/HER SERVICE AS A DIRECTOR OR COMMITTEE MEMBER OF THE FOUNDATION.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2022
Filed
11 August 2023
IRS schema version
2022v5.0
Source object
202322269349300022

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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