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Nonprofiteer
← GBU SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2022

Filed by GBU SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$263,636
Total expenses
$185,950
Contributions and grants received
$153,742
Grants paid
$166,000
Program service revenue
$0
Investment income
$109,894
Other revenue
$0
Total assets, end of year
$2,720,775
Total liabilities, end of year
$94
Net assets or fund balances, end of year
$2,720,681
Program services expenses (Part IX)
$166,000
Management and general expenses
$19,950
Fundraising expenses
$0
Program service expenses (Part III)
$166,000

Program services were 89.3% 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.

  • 1d · Related organizations

    $138,592

  • 1f · All other contributions, gifts and grants

    $15,150

  • 3 · Investment income

    total $133,112 · excluded $133,112

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $117,061

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

    securities $140,279

  • 7c · Gain or loss

    securities -$23,218

  • 7d · Net gain or loss

    total -$23,218 · excluded -$23,218

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 2 · Grants to domestic individuals

    total $146,000 · program services $146,000

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Other Expenses

    total $19,950 · management and general $19,950

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $541,422 · end of year $749,957

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $375 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,594,300 · end of year $1,939,306

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $33,013 · end of year $31,512

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,400 · end of year $94

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,157,710 · end of year $2,720,681

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO HELP OUR DONORS ACHIEVE THEIR PHILANTHROPIC GOALS AND POTENTIAL.

  • TO PROVIDE SCHOLARSHIPS TO QUALIFYING INDIVIDUALS.

    Expenses $166,000 · Grants $166,000

As filed on the 2022 return.

Listed in Part VII

  • WILLIAM W HUNT

    CEO

    Total calculated
    $664,298
    From this org
    $0
    From related orgs
    $625,491
    Other
    $38,807
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $442,882 related
    Bonus
    $0 + $159,332 related
    Other
    $0 + $23,277 related
    Deferred
    $0 + $13,615 related
    Nontaxable benefits
    $0 + $25,192 related
    Filer's total
    $0 + $664,298 related

  • LEA ANN HAZI

    CHAIRMAN

    Total calculated
    $73,100
    From this org
    $0
    From related orgs
    $73,100
    Other
    $0
    Hours/week
    1 + 5 related

  • CHRISTINA E MACKELLAR

    DIRECTOR

    Total calculated
    $48,592
    From this org
    $0
    From related orgs
    $48,592
    Other
    $0
    Hours/week
    1 + 2 related

  • DAVID L PRINGLE

    DIRECTOR

    Total calculated
    $40,512
    From this org
    $0
    From related orgs
    $40,512
    Other
    $0
    Hours/week
    1 + 2 related

  • DAVID E BEVINS

    DIRECTOR

    Total calculated
    $34,000
    From this org
    $0
    From related orgs
    $34,000
    Other
    $0
    Hours/week
    1 + 2 related

  • DONNA L BROPHY

    DIRECTOR

    Total calculated
    $33,265
    From this org
    $0
    From related orgs
    $33,265
    Other
    $0
    Hours/week
    1 + 2 related

  • John B Schmotzer

    DIRECTOR

    Total calculated
    $32,250
    From this org
    $0
    From related orgs
    $32,250
    Other
    $0
    Hours/week
    1 + 2 related

  • JOSEPH S BIELECKI

    DIRECTOR

    Total calculated
    $31,500
    From this org
    $0
    From related orgs
    $31,500
    Other
    $0
    Hours/week
    1 + 2 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

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
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303139349303785

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