Nonprofit · EIN 61-1393028
GOVERNORS SCHOLARS PROGRAM FOUNDATION INC
Also known as STE 210
Tax-exempt · FRANKFORT, KY 40601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,234,787 | $513,079 | $721,708 | $5,036,455 | $86,371 | $4,950,084 |
| December 31, 2024 | 990 | $880,831 | $737,843 | $142,988 | $4,257,048 | $56,259 | $4,200,789 |
| December 31, 2023 | 990 | $558,834 | $690,202 | -$131,368 | $3,972,731 | $23,672 | $3,949,059 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $683,449
- Program service revenue
- $0
- Investment income
- $523,789
- Net gain from sales of assets
- $460,690
- Net income from sales of inventory
- $25,731
- Other revenue
- $27,549
Expenses
- Grants and similar amounts paid
- $224,000
- Compensation of officers, directors and key employees
- $146,680
- Salaries, compensation and benefits (total)
- $156,581
- Professional fundraising fees
- $0
- Accounting fees
- $8,602
- Occupancy
- $2,038
- Travel
- $5,969
- Depreciation
- $2,667
- Program services (functional)
- $390,544
- Management and general (functional)
- $122,535
Balance sheet and other
- Total assets, start of year
- $4,257,048
- Total assets, end of year
- $5,036,455
- Total liabilities, end of year
- $86,371
- Net assets, end of year
- $4,950,084
- Land, buildings and equipment
- $77,333
- Publicly traded securities
- $4,173,146
- Net assets without donor restrictions
- $4,247,693
- Net assets with donor restrictions
- $702,391
- Gross receipts
- $1,626,155
- Employees
- 1
- Volunteers
- 9
- Year formed
- 2001
- State of legal domicile
- KY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DOUG DRAUT | PRESIDENT/SECRETARY Trustee or director, Officer | 40 | $129,430 | $16,372 |
| ALAN STEIN | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| VINCE GABBERT | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| WILLIAM MALONE | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| LAURA COLEMAN PRITCHARD | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| LESLIE FUGATE | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| WAYNE M MARTIN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| TREY GRAYSON | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| ANNE MCKUNE | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| SRINI MATAM | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DOUG DRAUT | PRESIDENT/SECRETARY Trustee or director, Officer | 40 | $125,660 | $15,861 |
| ALAN STEIN | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| VINCE GABBERT | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| WILLIAM MALONE | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| LAURA COLEMAN PRITCHARD | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| HAROLD H HAL SMITH | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| WAYNE M MARTIN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| TREY GRAYSON | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| MIKE BUCKENTIN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| SRINI MATAM | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DOUG DRAUT | PRESIDENT/SECRETARY Trustee or director, Officer | 40 | $122,003 | $16,117 |
| ALAN STEIN | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| VINCE GABBERT | VICE CHAIR Trustee or director, Officer | 0.25 | $0 | $0 |
| WILLIAM MALONE | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| LAURA COLEMAN PRITCHARD | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| HAROLD H HAL SMITH | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| WAYNE M MARTIN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| TREY GRAYSON | GSP CHAIR Trustee or director | 0.5 | $0 | $0 |
| MIKE BUCKENTIN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| SRINI MATAM | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 112 CONSUMER LN, FRANKFORT, KY 40601-8489
- In care of
- % DDF
- Principal officer (990 for 2025)
- WILLIAM MALONE, 112 CONSUMER LANE, FRANKFORT, KY 40601
- Signed the 990
- WILLIAM MALONE, TREASURER
- Phone
- (502) 209-4420
- Website
- GSP.KY.GOV
- Return prepared by
- DEMING MALONE LIVESAY & OSTROFF PSC
Mission
TO RAISE AND MANAGE FINANCIAL SUPPORT FOR THE GOVERNOR'S SCHOLARS PROGRAM, INC. (GSP), AS WELL AS TO PROVIDE PLANNED GIVING OPPORTUNITIES FOR DONORS WHO ARE INTERESTED IN SUPPORTING GSP.
Program accomplishments
- FINANCIAL SUPPORT PROVIDED TO VARIOUS EDUCATIONAL PROGRAMS OF THE GOVERNOR'S SCHOLARS PROGRAM, INC.Expenses $390,544 · grants $224,000 · revenue $27,549
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1393028
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2001
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $5,036,455
- Income (IRS master file)
- $1,626,155
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,234,787 | $513,079 | $5,036,455 | XML |
| 990 | December 2024 | $880,831 | $737,843 | $4,257,048 | XML |
| 990 | December 2023 | $558,834 | $690,202 | $3,972,731 | XML |
| 990 | December 2022 | $651,381 | $548,922 | $3,597,407 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 61-1393028).
Questions about GOVERNORS SCHOLARS PROGRAM FOUNDATION INC
- What is the EIN of GOVERNORS SCHOLARS PROGRAM FOUNDATION INC?
- The employer identification number (EIN) of GOVERNORS SCHOLARS PROGRAM FOUNDATION INC is 61-1393028.
- Is GOVERNORS SCHOLARS PROGRAM FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to GOVERNORS SCHOLARS PROGRAM FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GOVERNORS SCHOLARS PROGRAM FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GOVERNORS SCHOLARS PROGRAM FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GOVERNORS SCHOLARS PROGRAM FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of GOVERNORS SCHOLARS PROGRAM FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names WILLIAM MALONE.
- Who are the officers and directors of GOVERNORS SCHOLARS PROGRAM FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 10 people; 1 received compensation from the organization, the highest $129,430 (DOUG DRAUT, PRESIDENT/SECRETARY).
- How much revenue does GOVERNORS SCHOLARS PROGRAM FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,234,787, expenses of $513,079 and total assets of $5,036,455 at year end.
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