EIN 76-0512266

Galveston College Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
State
Year formed
1996
Most recent tax filings
2023-08-01
Description
In 1996, the Galveston College Foundation formed a separate community based non-profit, an IRS 501 (c) 3, in large part, to establish the Universal Access program which was designed to reduce local high school drop-out rates by providing college tuition and fee payments for local high school graduates regardless of income level. The generosity of local businesses, individuals, and area foundations established an endowment of $6.2 million. This combined with federal assistance permits Galveston College to offer an unparalleled tuition assistance program for the well to do and underserved.
Total revenues
$1,077,669
2023
Total expenses
$533,546
2023
Total assets
$24,122,530
2023
Num. employees
0
2023

Program areas at Galveston College Foundation

The Foundation generates philanthropic support for the Galveston Community College District (the College) with a primary emphasis on Universal Access. The Universal Access program provides scholarships to Galveston, Texas, high school graduates regardless of their ability to pay, thereby encouraging universal access to higher education. In addition to Universal Access, the Foundation solicits, invests, and manages funds to support the College's educational activities.

Who funds Galveston College Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Moody FoundationAssistance With Construction of the New Health Science Education Center and $2.5 Million for Endowment for Operation of the Building$5,000,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$102,000
The David and Jeanette Lipson Trust Acct G05190Scholarship$58,586
...and 6 more grants received

Personnel at Galveston College Foundation

NameTitleCompensation
Keith McFatridgeChair$0
Thomas SchwenkVice Chair$0
S Benjamin ShabotTreasurer$0
Carol A HodgesSecretary$0
Terry FrankPast Treasurer / Member$0
...and 4 more key personnel

Financials for Galveston College Foundation

RevenuesFYE 08/2023
Total grants, contributions, etc.$472,738
Program services$0
Investment income and dividends$788,898
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-183,967
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,077,669

Form 990s for Galveston College Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-082024-04-05990View PDF
2022-082023-05-01990View PDF
2021-082022-04-25990View PDF
2020-082021-05-05990View PDF
2019-082020-10-07990View PDF
...and 9 more Form 990s
Data update history
May 23, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 20, 2024
Updated personnel
Identified 4 new personnel
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $30,000 from Dr Leon Bromberg Charitable Trust
December 27, 2023
Received grants
Identified 2 new grant, including a grant for $21,000 from Harris and Eliza Kempner Fund
December 23, 2023
Received grants
Identified 4 new grant, including a grant for $5,000,000 from Moody Foundation
Nonprofit Types
Grantmaking organizationsSchoolsCharities
Issues
Education
Characteristics
Provides grantsEndowed supportCommunity engagement / volunteeringTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
4015 Ave Q
Galveston, TX 77550
Metro area
Houston-The Woodlands-Sugar Land, TX
County
Galveston County, TX
Website URL
gc.edu/ 
Phone
(409) 944-1303
IRS details
EIN
76-0512266
Fiscal year end
August
Taxreturn type
Form 990
Year formed
1996
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B42: Undergraduate College (4-year)
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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