Gacs Educational Foundation INC

Tax-deductible

Dallas, GA501(c)(3)EducationEIN 59-3766063

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Provide scholarships to children of Gacs members' employees

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · 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
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $11K a year · 26% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
54 mo
of spending, in cash
Looks good: 53.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$47K
+28% vs prior year
Spent
$29K
To programs
70%
Net assets
$130K
By yearFY2020–FY2021
Revenue
$47K
FY2021▲ +28%
Revenue by fiscal year
FY2020$37K
FY2021$47K
Expenses
$29K
FY2021▼ -12%
Expenses by fiscal year
FY2020$33K
FY2021$29K
Net assets
$130K
FY2021▲ +21%
Net assets by fiscal year
FY2020$108K
FY2021$130K

From the FY2021 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021. IRS ruling in Jan 2004.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $20K Management & general 13% · $4K Fundraising 17% · $5K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Gacs Educational Foundation INC 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

Offers scholarships to children of employees whose parents are GACS members.

Provided by the organization

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1 program · $20K · in their own filed words · FY2021
01

Scholarships were awarded to twenty students who met the requirements as specified in the organization's primary exempt purpose.

$20Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$47K
Ln 12
Gifts and grantsLn 1h$34K
Fees for servicesLn 2g$8K
Investment incomeLn 3$5K
Money outPt IX
$29K
Ln 25
Programscol B$20K
Managementcol C$4K
Fundraisingcol D$5K
Owns and owesPt X
$130K
net assets · Ln 32
Cash and savingsLn 1–2$130K
Total assetsLn 16$130K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$34K
Fees for servicesLn 2g$8K
Investment incomeLn 3$5K
Gains on assetsLn 7$3K
Total revenueLn 12$47K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$101K
Cash and savings togetherLn 1–2$130K
Total assetsLn 16$130K
LiabilitiesLn 26$0
Net assetsLn 32$130K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$108K$130K
Total assetsLn 16$108K$130K
LiabilitiesLn 26$0$0
Net assetsLn 32$108K$130K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$590$590
Investment management feesLn 11f$1K$1K
Other expenses (24a–d)Ln 24$27K$20K$2K$5K
Total functional expensesLn 25$29K$20K$4K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $47K$29K$18K$130K 990 PDF
FY2020 $37K$33K$4K$108K 990 PDF

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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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $46,931 across 6 lines filed
VIII-1f All other contributions, gifts and grants$33,778
VIII-1h Total contributions, gifts and grants$33,778
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,060$8,060
VIII-3 Investment incomeRelated to mission $1,628$1,628
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,465$3,465
VIII-12 Total revenueRelated to mission $13,153$46,931
Part IX · Statement of functional expenses $29,188 across 3 lines filed
IX-11c Accounting feesManagement $590$590
IX-11f Investment management feesManagement $1,200$1,200
IX-24 Other expenses (24a–d)Programs $20,500 · Management $1,898 · Fundraising $5,000$27,398
IX-25 Total functional expensesPrograms $20,500 · Management $3,688 · Fundraising $5,000$29,188
Part X · Balance sheet $130,228 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $14,904$28,756
X-2 Savings and temporary cash investmentsStart of year $93,130$101,472
X-16 Total assetsStart of year $108,034$130,228
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $108,034$130,228
X-32 Total net assets or fund balancesStart of year $108,034$130,228
X-33 Total liabilities and net assetsStart of year $108,034$130,228
Part XI · Reconciliation of net assets $130,228 net assets at year end
XI-1 Total revenue$46,931
XI-2 Total expenses$29,188
XI-3 Revenue less expenses$17,743
XI-4 Net assets at start of year$108,034
XI-5 Net unrealized gains (losses) on investments$4,451
XI-10 Net assets at end of year$130,228

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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