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Nonprofiteer
← PORTER-GAUD FOUNDATION

Form 990 for tax year 2023

Filed by PORTER-GAUD FOUNDATION.

Totals

Total revenue
$7,489,996
Total expenses
$3,916,320
Contributions and grants received
$6,274,927
Grants paid
$2,903,782
Program service revenue
$0
Investment income
$799,394
Other revenue
$415,675
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$2,903,782
Management and general expenses
$0
Fundraising expenses
$1,012,538
Program service expenses (Part III)
$2,903,782

Program services were 74.1% 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

    $6,274,927

  • 1g · Noncash contributions included above

    $44,001

  • 3 · Investment income

    total $798,844 · excluded $798,844

  • 7a · Gross sales of assets other than inventory

    securities $1,531

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

    securities $981

  • 7c · Gain or loss

    securities $550

  • 7d · Net gain or loss

    total $550 · related or exempt $550

  • 8a · Fundraising events: gross income

    $602,654

  • 8b · Fundraising events: direct expenses

    $210,502

  • 8c · Net income from fundraising events

    total $392,152

  • 10a · Gross sales of inventory

    $52,126

  • 10b · Cost of goods sold

    $28,603

  • 10c · Net income from sales of inventory

    total $23,523 · related or exempt $23,523

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,903,782 · program services $2,903,782

  • 11c · Fees: accounting

    total $1,500 · fundraising $1,500

  • 11g · Fees: other

    total $20,000 · fundraising $20,000

  • 13 · Office expenses

    total $38,194 · fundraising $38,194

  • 17 · Travel

    total $5,809 · fundraising $5,809

  • 19 · Conferences, conventions and meetings

    total $133,107 · fundraising $133,107

  • 21 · Payments to affiliates

    total $501,618 · fundraising $501,618

  • 24a · Other expenses: BAD DEBTS

    total $169,000 · fundraising $169,000

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $54,598 · fundraising $54,598

  • 24c · Other expenses: OTHER SUPPORTING ORG

    total $41,602 · fundraising $41,602

  • 24d · Other expenses: SOFTWARE MAINTENANCE

    total $38,218 · fundraising $38,218

  • 24e · All other expenses

    total $8,892 · fundraising $8,892

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,847,398

  • 3 · Pledges and grants receivable

    beginning of year $8,785,952

  • 9 · Prepaid expenses and deferred charges

    beginning of year $279,767

  • 11 · Investments: publicly traded securities

    beginning of year $20,529,893

  • 15 · Other assets

    beginning of year $4,345,800

  • 17 · Accounts payable and accrued expenses

    beginning of year $83,079

  • 27 · Net assets without donor restrictions

    beginning of year $13,614,548

  • 28 · Net assets with donor restrictions

    beginning of year $25,091,183

Mission and programs · 2023

Mission

THE FOUNDATION IS OPERATED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE PORTER ACADEMY D/B/A PORTER-GAUD SCHOOL AND ITS AFFILIATED ENTITIES (THE "SUPPORTED CHARITIES"). THE FOUNDATION SUPPORTS THE SUPPORTED CHARITIES BY STIMULATING, RECEIVING AND GRANTING CHARITABLE GIFTS TO ADVANCE PROGRAMS OF EDUCATION.

  • GRANTS, ALLOCATIONS AND OTHER TRANSFERS OF FOUNDATION ASSETS TO SUPPORTED ORGANIZATIONS FOR USE IN THEIR PROGRAMS AND OPERATIONS.

    Expenses $2,903,782 · Grants $2,903,782

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

Listed in Part VII

  • Richard Star

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Jonathan Centurino

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Mark Congdon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Michael Handler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Nathaniel Howe

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Lauren Netter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Brittany Middleton Ogike

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Granger Osborne Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • John Regan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Elizabeth Saal

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Greer Polansky Vaughan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Christopher Scott Vanhoy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Elizabeth Burwell

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    5

  • Dr Tej Dhindsa

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    5

  • Dorothy Thaxton

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    5

  • Craig Stewart

    EXECUTIVE DI

    Total calculated
    $200,630
    From this org
    $0
    From related orgs
    $165,784
    Other
    $34,846
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $165,784 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $19,089 related
    Nontaxable benefits
    not reported + $15,757 related
    Filer's total
    not reported + $200,630 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

  • 3 · Written employment contract

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 III
PART I, LINE 3 - RELATED ORGANIZATION METHODS USED FOR COMPENSATION EXPLANATION: CRAIG STEWART, EXECUTIVE DIRECTOR, HAS EMPLOYMENT CONTRACT WITH PORTER-GAUD SCHOOL, WHICH IS APPROVED BY THE HEAD OF SCHOOL. EMPLOYMENT CONTRACTS COMPLY WITH BOARD-APPROVED BUDGET AMOUNTS AND ARE HANDLED BY THE PORTER-GAUD SCHOOL HUMAN RESOURCES DEPARTMENT.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
14 January 2025
IRS schema version
2023v6.0
Source object
202530159349301708

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