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Nonprofiteer
← THE KELLY GIBSON FOUNDATION

Form 990 for tax year 2024

Filed by THE KELLY GIBSON FOUNDATION.

Totals

Total revenue
$799,510
Total expenses
$581,495
Contributions and grants received
$415,053
Grants paid
$88,755
Program service revenue
$207,080
Investment income
$54,162
Other revenue
$123,215
Total assets, end of year
$1,395,162
Total liabilities, end of year
$32,441
Net assets or fund balances, end of year
$1,362,721
Program services expenses (Part IX)
$440,453
Management and general expenses
$76,573
Fundraising expenses
$64,469
Program service expenses (Part III)
$440,453

Program services were 75.7% 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

    $135,445

  • 1f · All other contributions, gifts and grants

    $279,608

  • 2a · Program service revenue: JUNIOR GOLF TOUR

    total $207,080 · related or exempt $207,080

  • 3 · Investment income

    total $49,266 · excluded $49,266

  • 7a · Gross sales of assets other than inventory

    securities $142,233

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

    securities $137,337

  • 7c · Gain or loss

    securities $4,896

  • 7d · Net gain or loss

    total $4,896 · excluded $4,896

  • 8a · Fundraising events: gross income

    $290,645

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

    $135,445

  • 8b · Fundraising events: direct expenses

    $172,413

  • 8c · Net income from fundraising events

    total $118,232 · excluded $118,232

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $4,983 · related or exempt $4,983

  • 11e · Other revenue, total

    $4,983

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,255 · program services $15,255

  • 2 · Grants to domestic individuals

    total $73,500 · program services $73,500

  • 5 · Compensation of officers, directors and key employees

    total $153,193 · program services $107,235 · management and general $7,660 · fundraising $38,298

  • 10 · Payroll taxes

    total $11,719 · program services $8,203 · management and general $586 · fundraising $2,930

  • 11c · Fees: accounting

    total $10,685 · management and general $10,685

  • 11f · Fees: investment management

    total $150 · management and general $150

  • 11g · Fees: other

    total $13,171 · program services $225 · management and general $12,946

  • 12 · Advertising and promotion

    total $32,246 · program services $31,793 · management and general $453

  • 13 · Office expenses

    total $3,124 · management and general $3,124

  • 14 · Information technology

    total $6,132 · management and general $6,132

  • 16 · Occupancy

    total $24,931 · program services $17,451 · management and general $1,247 · fundraising $6,233

  • 17 · Travel

    total $14,703 · program services $3,676 · management and general $7,351 · fundraising $3,676

  • 19 · Conferences, conventions and meetings

    total $297 · management and general $297

  • 22 · Depreciation, depletion and amortization

    total $43,146 · program services $10,787 · management and general $21,573 · fundraising $10,786

  • 23 · Insurance

    total $10,940 · program services $7,129 · management and general $1,265 · fundraising $2,546

  • 24a · Other expenses: JUNIOR GOLF PROGRAMMING

    total $160,439 · program services $160,439

  • 24b · Other expenses: OTHER EXPENSES

    total $3,798 · program services $3,798

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,104 · management and general $3,104

  • 24d · Other expenses: UNIFORMS

    total $962 · program services $962

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $795,799 · end of year $955,343

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

    $114,757

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

    $83,344

  • 10c · Land, buildings and equipment, net

    beginning of year $11,108 · end of year $31,413

  • 11 · Investments: publicly traded securities

    beginning of year $394,997 · end of year $408,406

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,198 · end of year $32,441

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,144,706 · end of year $1,362,721

Mission and programs · 2024

Mission

THE KELLY GIBSON FOUNDATION IS A COMMUNITY DRIVEN CHARITY DEDICATED TO IMPROVING THE LIVES OF THOSE WHO LIVE IN NEW ORLEANS AND THE SURROUNDING AREAS WITH AN EMPHASIS ON SUPPORTING CHILDREN'S ATHLETIC PROGRAMMING, FIRST RESPONDERS AND MILITARY INITIATIVES.

Activities or mission (Part I)

TO ASSIST IN IMPROVING THE LIVES OF THOSE WHO LIVE IN NEW ORLEANS AND THE [CONT'D ON SCH O] SURROUNDING AREAS WITH AN EMPHASIS ON SUPPORTING CHILDREN'S ATHLETIC PROGRAMS AND INITIATIVES FOR FIRST RESPONDERS AND MILITARY PERSONNEL.

  • THROUGH JUNIOR GOLF PROGRAMMING, THE KELLY GIBSON FOUNDATION PRODUCED 19 JUNIOR GOLF TOURNAMENTS SPANNING FROM LAKE CHARLES, BATON ROUGE, THE GREATER NEW ORLEANS AREA TO THE GULF COAST REGION, AND ALABAMA.THE KELLY GIBSON JUNIOR GOLF TOUR IS AN INTRODUCTION TO COMPETITION AND IS OPEN TO BOTH MALE AND FEMALE JUNIOR GOLFERS AGES 7-22. MEMBERS OF THE TOUR COMPETE IN UP TO SEVEN ONE-DAY TOURNAMENTS DURING THE SUMMER FROM JUNE TO JULY.THE OSCAR J TOLMAS MENTORSHIP PROGRAM PROVIDES A POSITIVE LEARNING EXPERIENCE FOR BOYS AGES 7-10 AND GIRLS AGES 7-13. MENTORS ARE JUNIORS IN HIGH SCHOOL THROUGH 5TH YEAR SENIORS IN COLLEGE [CONT'D ON SCH O] WHO WALK WITH THEIR MENTEES DURING THEIR 9-HOLE ROUND. THEY TEACH ETIQUETTE, PACE OF PLAY, BASIC RULES AND COURSE MANAGEMENT TO PROVIDE A MORE ENJOYABLE EXPERIENCE.THE ALLSTATE SUGAR BOWL FALL SERIES ARE TWO-DAY JUNIOR GOLF TOURNAMENTS PRODUCED FROM AUGUST TO DECEMBER SPANNING FROM LAKE CHARLES TO THE GULF COAST REGION AND ALABAMA. THESE EVENTS PROVIDE MORE LOCAL PLAYING OPPORTUNITIES FOR BOYS AGES 13-18 AND GIRLS AGES 13-18 WHO WANT TO TAKE THEIR GAME TO THE NEXT LEVEL.THE ALLSTATE SUGAR BOWL TOMMY MOORE MEMORIAL IS AN ANNUAL INTERNATIONAL JUNIOR GOLF TOURNAMENT FEATURING 84 TOP-RANKED JUNIOR GOLFERS FROM ACROSS THE COUNTRY AND WORLD EACH HOLIDAY SEASON IN NEW ORLEANS AT TPC LOUISIANA, HOME OF THE PGA TOUR'S ZURICH CLASSIC.

    Expenses $351,698 · Revenue $207,080

  • DURING 2024, THE KELLY GIBSON FOUNDATION AWARDED $16,500 IN COLLEGE SCHOLARSHIPS TO 9 MEMBERS OF THE KELLY GIBSON JUNIOR GOLF TOUR. SINCE 2010, ALONG WITH VARIOUS COMMUNITY PARTNERSHIPS, 363 SCHOLARSHIPS HAVE BEEN AWARDED TOTALING $839,800. SCHOLARSHIPS ARE AWARDED BASED ON COMMUNITY SERVICE, ACADEMICS AND FINANCIAL NEED; NOT GOLFING ABILITY. ELIGIBLE APPLICANTS MUST SATISFY MENTORSHIP AND PLAYING REQUIREMENTS ON THE JUNIOR TOUR AND BE A JUNIOR IN HIGH SCHOOL OR OLDER.THERE ARE CURRENTLY EIGHT SCHOLARSHIPS THAT HAVE YET TO BE REDEEMED TOTALING $16,000. THESE SCHOLARSHIPS WILL BE PAID WITHIN THREE YEARS. THE FOUNDATION PROVIDES GRANTS TO CHARITABLE ORGANIZATIONS THAT SHARE OUR MISSION. DURING 2024, THE FOUNDATION GRANTED A TOTAL OF $14,495 TO VARIOUS ORGANIZATIONS.

    Expenses $28,755 · Grants $28,755

  • THE KELLY GIBSON FOUNDATION IS PROUD TO AWARD SCHOLARSHIPS TO CHILDREN OF MILITARY FAMILIES THROUGH THE KELLY GIBSON FOUNDATION SCHOLARSHIP PROGRAM IN PARTNERSHIP WITH THE OSCAR J. TOLMAS CHARITABLE TRUST AS PART OF OUR ANNUAL SWING HARD FOR SOLDIERS EVENT. THIS GOLF TOURNAMENT IS A PATRIOTIC DAY THAT HONORS OUR NATION'S VETERANS AND AWARDS SCHOLARSHIPS TO ANY CHILD WHO IS A JUNIOR IN HIGH SCHOOL THROUGH 5TH YEAR SENIOR IN COLLEGE AND A DIRECT DESCENDANT OF SOMEONE WHO HAS SERVED IN ANY OF THE MAJOR BRANCHES OF MILITARY. IN 2024, $60,000 IN SCHOLARSHIPS WERE AWARDED TO 20 YOUNG MEN AND WOMEN. SINCE 2018, 97 SCHOLARSHIPS HAVE BEEN AWARDED TOTALING $251,000.THERE ARE CURRENTLY 25 SCHOLARSHIPS THAT HAVE YET TO BE REDEEMED TOTALING $73,500. THESE SCHOLARSHIPS WILL BE PAID WITHIN THREE YEARS.

    Expenses $60,000 · Grants $60,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kelly M Gibson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    15

  • James Hingle

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Steve Sawyer

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth P Gibson

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Ken Friend Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Cawthorne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Giles Kibbe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Grady

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Hampford 1124 - 9624

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Patrizi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacey Serro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick McMath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Loup

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Taylor Capouch

    EXECUTIVE DIRECTOR

    Total calculated
    $102,538
    From this org
    $102,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Michael Bryan Day

    DIRECTOR OF OPERATIONS

    Total calculated
    $50,654
    From this org
    $50,654
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202512969349300906

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