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Nonprofiteer
← GMTO CORPORATION

Form 990 for tax year 2022

Filed by GMTO CORPORATION.

Totals

Total revenue
$194,662,618
Total expenses
$36,380,093
Contributions and grants received
$193,810,505
Grants paid
$0
Program service revenue
$0
Investment income
$852,113
Other revenue
$0
Total assets, end of year
$488,723,180
Total liabilities, end of year
$27,326,631
Net assets or fund balances, end of year
$461,396,549
Program services expenses (Part IX)
$27,105,174
Management and general expenses
$7,057,439
Fundraising expenses
$2,217,480
Program service expenses (Part III)
$27,105,174

Program services were 74.5% 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.

  • 1e · Government grants (contributions)

    $4,437,801

  • 1f · All other contributions, gifts and grants

    $189,372,704

  • 3 · Investment income

    total $852,113 · excluded $852,113

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,779,789 · program services $666,812 · management and general $1,112,977

  • 7 · Other salaries and wages

    total $15,424,641 · program services $11,730,355 · management and general $2,750,838 · fundraising $943,448

  • 8 · Pension plan contributions

    total $2,096,509 · program services $1,639,392 · management and general $327,097 · fundraising $130,020

  • 9 · Other employee benefits

    total $1,438,933 · program services $1,073,212 · management and general $304,858 · fundraising $60,863

  • 10 · Payroll taxes

    total $982,564 · program services $722,643 · management and general $191,853 · fundraising $68,068

  • 11b · Fees: legal

    total $167,893 · management and general $167,893

  • 11c · Fees: accounting

    total $167,169 · management and general $167,169

  • 11d · Fees: lobbying

    total $288,022 · fundraising $288,022

  • 11f · Fees: investment management

    total $50,542 · management and general $50,542

  • 11g · Fees: other

    total $1,591,113 · program services $1,082,260 · management and general $500,160 · fundraising $8,693

  • 13 · Office expenses

    total $106,604 · program services $75,086 · management and general $24,102 · fundraising $7,416

  • 14 · Information technology

    total $703,972 · program services $495,841 · management and general $159,159 · fundraising $48,972

  • 16 · Occupancy

    total $890,859 · program services $627,474 · management and general $201,412 · fundraising $61,973

  • 17 · Travel

    total $687,014 · program services $497,929 · management and general $129,960 · fundraising $59,125

  • 19 · Conferences, conventions and meetings

    total $457,512 · program services $237,209 · management and general $213,295 · fundraising $7,008

  • 22 · Depreciation, depletion and amortization

    total $1,551,942 · program services $1,093,107 · management and general $350,874 · fundraising $107,961

  • 23 · Insurance

    total $568,073 · program services $400,121 · management and general $128,434 · fundraising $39,518

  • 24a · Other expenses: RESEARCH & DEVELOPMENT

    total $4,926,486 · program services $4,926,486

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $980,562 · program services $736,101 · management and general $243,209 · fundraising $1,252

  • 24c · Other expenses: ADVANCEMENT

    total $346,407 · program services $3,877 · fundraising $342,530

  • 24d · Other expenses: CHILE CAMP EXPENSES

    total $329,369 · program services $329,369

  • 24e · All other expenses

    total $844,118 · program services $767,900 · management and general $33,607 · fundraising $42,611

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,159,879 · end of year $10,871,882

  • 3 · Pledges and grants receivable

    beginning of year $35,798,338 · end of year $181,174,834

  • 4 · Accounts receivable

    beginning of year $262,443 · end of year $494,329

  • 9 · Prepaid expenses and deferred charges

    beginning of year $997,619 · end of year $717,753

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

    $18,034,162

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

    $8,727,461

  • 10c · Land, buildings and equipment, net

    beginning of year $10,203,821 · end of year $9,306,701

  • 11 · Investments: publicly traded securities

    beginning of year $33,563,229 · end of year $34,504,631

  • 15 · Other assets

    beginning of year $224,718,418 · end of year $251,653,050

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,848,696 · end of year $22,900,915

  • 19 · Deferred revenue

    beginning of year $3,694,438 · end of year $1,416,141

  • 25 · Other liabilities

    beginning of year $222,642 · end of year $3,009,575

  • 27 · Net assets without donor restrictions

    beginning of year $266,945,501 · end of year $281,456,875

  • 28 · Net assets with donor restrictions

    beginning of year $33,992,470 · end of year $179,939,674

Mission and programs · 2022

Mission

GMTO CORPORATION IS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH INSTITUTIONS TO BUILD A NEXT GENERATION EXTREMELY LARGE TELESCOPE FOR ASTRONOMICAL RESEARCH.

Activities or mission (Part I)

UNDERTAKE DESIGN, DEVELOPMENT, CONSTRUCTION & OPERATION OF THE GIANT MAGELLAN TELESCOPE.

  • THE PURPOSE OF THE CORPORATION IS TO UNDERTAKE THE DESIGN, DEVELOPMENT, CONSTRUCTION AND OPERATION OF THE GIANT MAGELLAN TELESCOPE ("GMT"), A STATE-OF-THE-ART NEXT-GENERATION ASTRONOMICAL TELESCOPE, AS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH ORGANIZATIONS. ALL CONTRIBUTIONS AND ALL EXPENSES ARE GEARED TOWARD THE FULFILLMENT OF THAT PURPOSE. DURING THE FISCAL YEAR ENDING JUNE 30, 2023, GMTO CONTINUED ON THE WORK ON ITS PRIMARY MIRROR SEGMENTS AND DESIGN WORK ON MAJOR SUBSYSTEMS, INCLUDING PROTOTYPING, AND UNDERWENT VARIOUS DESIGN REVIEWS.

    Expenses $27,105,174

As filed on the 2022 return.

Listed in Part VII

  • WALTER MASSEY

    CHAIR, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • TAFT ARMANDROFF

    VICE CHAIR, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • CHARLES ALCOCK

    BOARD MEMBER (THRU 07/2022)

    Total calculated
    $0
    Hours/week
    1

  • WAYNE ALEXANDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JACK BALDAUF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BUELL JANNUZI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LISA KEWLEY

    BOARD MEMBER (FROM 07/2022)

    Total calculated
    $0
    Hours/week
    1

  • JOHN MULCHAEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLAUDIA LUCIA MENDES DE OLIVEIRA

    BOARD MEMBER (THRU 10/2022)

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MCCARTHY

    BOARD MEMBER (THRU 10/2022)

    Total calculated
    $0
    Hours/week
    1

  • BYEONG-GON PARK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUNG HYUN PARK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SARAH PEARCE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOAQUIN RUIZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RANDY STRINGER

    BOARD MEMBER (FROM 10/2022)

    Total calculated
    $0
    Hours/week
    1

  • CHRIS TINNEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT SHELTON

    PRESIDENT

    Total calculated
    $573,295
    From this org
    $494,519
    From related orgs
    $0
    Other
    $78,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $494,519
    Bonus
    $0
    Other
    $0
    Deferred
    $61,000
    Nontaxable benefits
    $17,776
    Filer's total
    $573,295

  • ALAN GORDON

    TREASURER / CFO / VP, BUSINESS OPS.

    Total calculated
    $346,452
    From this org
    $265,862
    From related orgs
    $0
    Other
    $80,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,862
    Bonus
    $0
    Other
    $0
    Deferred
    $53,460
    Nontaxable benefits
    $27,130
    Filer's total
    $346,452

  • SARA LEE KELLER

    SEC. / GEN COUNSEL (THRU 09/2022)

    Total calculated
    $256,096
    From this org
    $195,569
    From related orgs
    $0
    Other
    $60,527
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,569
    Bonus
    $0
    Other
    $0
    Deferred
    $39,567
    Nontaxable benefits
    $20,960
    Filer's total
    $256,096

  • JENNIFER ECCLES - INTERIM SEC

    (10/22-3/23) / VP, DEV. & EX. REL.

    Total calculated
    $276,407
    From this org
    $233,091
    From related orgs
    $0
    Other
    $43,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,091
    Bonus
    $0
    Other
    $0
    Deferred
    $34,263
    Nontaxable benefits
    $9,053
    Filer's total
    $276,407

  • KEVIN MILLS - SEC VP LEGAL

    AFFAIRS / GEN COUNSEL (FROM 04/2023)

    Total calculated
    $0
    Hours/week
    40

  • JAMES FANSON

    PROJECT MANAGER (THRU 03/2023)

    Total calculated
    $397,818
    From this org
    $327,111
    From related orgs
    $0
    Other
    $70,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,111
    Bonus
    $0
    Other
    $0
    Deferred
    $59,292
    Nontaxable benefits
    $11,415
    Filer's total
    $397,818

  • WILLIAM BURGETT

    INTERIM PROJECT MANAGER

    Total calculated
    $328,325
    From this org
    $263,610
    From related orgs
    $0
    Other
    $64,715
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $263,610
    Bonus
    $0
    Other
    $0
    Deferred
    $53,300
    Nontaxable benefits
    $11,415
    Filer's total
    $328,325

  • REBECCA BERNSTEIN

    PROJECT SCIENTIST

    Total calculated
    $399,697
    From this org
    $337,161
    From related orgs
    $0
    Other
    $62,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,161
    Bonus
    $0
    Other
    $0
    Deferred
    $48,130
    Nontaxable benefits
    $14,406
    Filer's total
    $399,697

  • BRUCE BIGELOW

    SITE, ENCLOSURE, FACILITIES MGR

    Total calculated
    $296,301
    From this org
    $238,048
    From related orgs
    $0
    Other
    $58,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,048
    Bonus
    $0
    Other
    $0
    Deferred
    $46,838
    Nontaxable benefits
    $11,415
    Filer's total
    $296,301

  • GLENN BROSSUS

    INTERIM DEPUTY PROJECT MANAGER

    Total calculated
    $322,357
    From this org
    $239,113
    From related orgs
    $0
    Other
    $83,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,113
    Bonus
    $0
    Other
    $0
    Deferred
    $48,785
    Nontaxable benefits
    $34,459
    Filer's total
    $322,357

  • RICK DEMERS

    WAVEFRONT SENSING & CTRL. MANAGER

    Total calculated
    $302,994
    From this org
    $243,651
    From related orgs
    $0
    Other
    $59,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,651
    Bonus
    $0
    Other
    $0
    Deferred
    $47,928
    Nontaxable benefits
    $11,415
    Filer's total
    $302,994

  • FRANK GROARK

    DEPUTY OPT. & OPTICAL METROLOGY MGR.

    Total calculated
    $318,151
    From this org
    $238,285
    From related orgs
    $0
    Other
    $79,866
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,285
    Bonus
    $0
    Other
    $0
    Deferred
    $47,852
    Nontaxable benefits
    $32,014
    Filer's total
    $318,151

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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 II, LINES 5, 6 & 8:
REBECCA BERNSTEIN IS A SECONDED EMPLOYEE THAT PROVIDES SERVICES TO GMTO AND IS COMPENSATED BY THE CARNEGIE INSTITUTION FOR SCIENCE, AN UNRELATED ORGANIZATION. GMTO REIMBURSES THE CARNEGIE INSTITUTION FOR SCIENCE FOR SALARY AND BENEFITS RELATED TO THE SERVICES PROVIDED TO GMTO. THE AMOUNTS INCLUDED IN PART VII AND SCHEDULE J, PART II REPRESENT REBECCA BERNSTEIN'S COMPENSATION IN CONNECTION WITH THE SERVICES PROVIDED TO GMTO.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349309122

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