philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

The Gamma Theta Lambda Education Foundation FY2024 filing

Tax-deductible

Wilmington, DE501(c)(3)EducationEIN 31-1755253Revenue $172K in FY2024

On file with the IRSPo Box 25209, 19899-5209 · Wilmington, DETax-exempt since Mar 2001Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

Provide scholarships to graduating hs seniors

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $89K a year · 78% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
161 mo
of spending, in cash
Looks good: 160.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$172K
+17% vs prior year
Spent
$27K
To programs
76%
Net assets
$366K
By yearFY2022–FY2025
Revenue
$172K
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2022$14K
FY2023$147K
FY2024$172K
FY2025$24K
Expenses
$27K
FY2024▲ +95%
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023$14K
FY2024$27K
FY2025$36K
Net assets
$366K
FY2024▲ +66%
Tap a bar for its year
Net assets by fiscal year
FY2022−$6
FY2023$221K
FY2024$366K
FY2025$355K

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $21K Management & general 24% · $6K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Kevin Richardson
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Kurt Lane
Treasurer
$0Pt VII · Sec A
See The Gamma Theta Lambda Education Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers scholarships to graduating high school seniors.

Questions for The Gamma Theta Lambda Education Foundation

Tap to ask. The Gamma Theta Lambda Education Foundation sees how many people are interested.

Your first name shows with your question. The Gamma Theta Lambda Education Foundation answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $12K · in their own filed words · FY2023
01

Award scholarship to graduating high school seniors going to college

$12Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
The Laffey-Mchugh FoundationFY2024$10K
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$172K
Ln 12
Gifts and grantsLn 1h$195K
Investment incomeLn 3$7K
Money outPt IX
$27K
Ln 25
Programscol B$21K
Managementcol C$6K
Owns and owesPt X
$366K
net assets · Ln 32
Cash and savingsLn 1–2$366K
Total assetsLn 16$366K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Government grantsLn 1e$142K
Fundraising eventsLn 1c$27K
Investment incomeLn 3$7K
Total revenueLn 12$172K
Assets in detailPt X, end of year
CashLn 1$366K
Cash and savings togetherLn 1–2$366K
Total assetsLn 16$366K
LiabilitiesLn 26$0
Net assetsLn 32$366K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$221K$366K
Total assetsLn 16$221K$366K
LiabilitiesLn 26$0$0
Net assetsLn 32$221K$366K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$12K$12K
Office expensesLn 13$4K$4K
OccupancyLn 16$801$801
Conferences, conventions and meetingsLn 19$902$902
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$8K$7K$1K
All other expensesLn 24e$397$397
Total functional expensesLn 25$27K$21K$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $24K$36K−$11K$355K 990 PDF
FY2024 Viewing $172K$27K$145K$366K 990 PDF
FY2023 $147K$14K$133K$221K 990 PDF
FY2022 $14K−$6 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $172,443 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $217,049$195,376
I-9 Program service revenue$0
I-10 Investment incomePrior year $7,403$6,702
I-11 Other revenuePrior year −$77,445−$29,635
I-12 Total revenuePrior year $147,007$172,443
I-13 Grants and similar amounts paidPrior year $10,510$12,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,502$15,302
I-18 Total expensesPrior year $14,012$27,302
I-19 Revenue less expensesPrior year $132,995$145,141
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $172,443 across 7 lines filed
VIII-1c Fundraising events$26,551
VIII-1e Government grants$142,000
VIII-1f All other contributions, gifts and grants$26,825
VIII-1h Total contributions, gifts and grants$195,376
VIII-3 Investment incomeRelated to mission $6,702$6,702
VIII-8 Net income from fundraising events−$29,635
VIII-12 Total revenueRelated to mission $6,702$172,443
Part IX · Statement of functional expenses $27,302 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $12,000$12,000
IX-13 Office expensesManagement $3,826$3,826
IX-16 OccupancyPrograms $801$801
IX-19 Conferences, conventions and meetingsPrograms $902$902
IX-23 InsuranceManagement $1,181$1,181
IX-24 Other expenses (24a–d)Programs $7,145 · Management $1,050$8,195
IX-24e All other expensesManagement $397$397
IX-25 Total functional expensesPrograms $20,848 · Management $6,454 · Fundraising $0$27,302
Part X · Balance sheet $365,847 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $220,705$365,847
X-16 Total assetsStart of year $220,705$365,847
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $220,705$365,847
X-33 Total liabilities and net assetsStart of year $220,705$365,847
Part XI · Reconciliation of net assets $365,847 net assets at year end
XI-1 Total revenue$172,443
XI-2 Total expenses$27,302
XI-3 Revenue less expenses$145,141
XI-4 Net assets at start of year$220,705
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year$365,847

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.