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Richard T Gosser Scholarship Program FY2020 filing

Tax-deductible

Maumee, OH501(c)(3) EIN 34-6533594Revenue $135K in FY2020

On file with the IRS1691 Woodlands Dr, 43537-4018 · Maumee, OHTax-exempt since Dec 1971Publicly supported charity — 170(b)(1)(A)(vi)

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Granting of college scholarships.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $42K a year · 21% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $2.9M in investments, Pt X · Ln 11–13
Fine: 0.3 months of spending in cash, plus $2.9M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $13K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$261K
9% of total assets
Looks good: liabilities are 9% 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
$135K
Spent
$153K
To programs
84%
Net assets
$2.6M
By yearFY2020–FY2024
Revenue
$135K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$135K
FY2021$210K
FY2022$157K
FY2023$245K
FY2024$262K
Expenses
$153K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$153K
FY2021$163K
FY2022$155K
FY2023$165K
FY2024$163K
Net assets
$2.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$2.8M
FY2022$2.2M
FY2023$2.6M
FY2024$2.8M

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1971.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $129K Management & general 16% · $24K

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

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jack Sizemore
Treasurer
$0Pt VII · Sec A
Ken Lortz
President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Richard T Gosser Scholarship Program executive salaries →

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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

Awards college scholarships to deserving students.

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Provided by the organization

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1 program · $129K · in their own filed words · FY2020
01

College scholarships awarded

$129Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
International Union - UawFY2024$13K
Total grants receivedfrom 1 funder$13K
Grants paid · 5 grants · $646K · 2020–2024
Unitemized GrantFY2024$130,500
Unitemized GrantFY2023$132,000
Unitemized GrantFY2022$126,000
Unitemized GrantFY2021$129,000
Unitemized GrantFY2020$129,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$135K
Ln 12
Investment incomeLn 3$99K
Gifts and grantsLn 1h$37K
Money outPt IX
$153K
Ln 25
Programscol B$129K
Managementcol C$24K
Owns and owesPt X
$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$4K
Total assetsLn 16$2.9M
LiabilitiesLn 26$261K
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$37K
Investment incomeLn 3$99K
Total revenueLn 12$135K
Assets in detailPt X, end of year
CashLn 1$4K
Cash and savings togetherLn 1–2$4K
InvestmentsLn 11–13$2.9M
Total assetsLn 16$2.9M
LiabilitiesLn 26$261K
Net assetsLn 32$2.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4K$4K
InvestmentsLn 11–13$2.7M$2.9M
Total assetsLn 16$2.7M$2.9M
LiabilitiesLn 26$262K$261K
Net assetsLn 32$2.4M$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$129K$129K
Accounting feesLn 11c$650$650
Investment management feesLn 11f$23K$23K
Office expensesLn 13$120$120
Other expenses (24a–d)Ln 24$200$200
Total functional expensesLn 25$153K$129K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $262K$163K$99K$2.8M 990 PDF
FY2023 $245K$165K$79K$2.6M 990 PDF
FY2022 $157K$155K$3K$2.2M 990 PDF
FY2021 $210K$163K$47K$2.8M 990 PDF
FY2020 Viewing $135K$153K−$18K$2.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $135,318 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $75,024$36,917
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $84,007$98,651
I-11 Other revenuePrior year $63,550−$250
I-12 Total revenuePrior year $222,581$135,318
I-13 Grants and similar amounts paidPrior year $129,000$129,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $28,794$23,908
I-18 Total expensesPrior year $157,794$152,908
I-19 Revenue less expensesPrior year $64,787−$17,590
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $135,318 across 5 lines filed
VIII-1d Related organizations$36,917
VIII-1h Total contributions, gifts and grants$36,917
VIII-3 Investment incomeExcluded from tax $98,651$98,651
VIII-8 Net income from fundraising eventsExcluded from tax −$250−$250
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $98,401$135,318
Part IX · Statement of functional expenses $152,908 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $129,000$129,000
IX-11c Accounting feesManagement $650$650
IX-11f Investment management feesManagement $22,938$22,938
IX-13 Office expensesManagement $120$120
IX-24 Other expenses (24a–d)Management $200$200
IX-25 Total functional expensesPrograms $129,000 · Management $23,908 · Fundraising $0$152,908
Part X · Balance sheet $2,871,559 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $4,000$3,550
X-11 Publicly traded securitiesStart of year $2,660,909$2,868,009
X-16 Total assetsStart of year $2,664,909$2,871,559
X-18 Grants payableStart of year $262,000$260,625
X-26 Total liabilitiesStart of year $262,000$260,625
X-27 Net assets without donor restrictionsStart of year $2,402,909$2,610,934
X-32 Total net assets or fund balancesStart of year $2,402,909$2,610,934
X-33 Total liabilities and net assetsStart of year $2,664,909$2,871,559
Part XI · Reconciliation of net assets $2,610,934 net assets at year end
XI-1 Total revenue$135,318
XI-2 Total expenses$152,908
XI-3 Revenue less expenses−$17,590
XI-4 Net assets at start of year$2,402,909
XI-5 Net unrealized gains (losses) on investments$225,615
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,610,934

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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