Nonprofit · EIN 76-0512266
GALVESTON COLLEGE FOUNDATION
Tax-exempt · GALVESTON, TX 77550
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $2,304,716 | $726,009 | $1,578,707 | $30,927,613 | $140,553 | $30,787,060 |
| August 31, 2024 | 990 | $3,262,568 | $1,668,416 | $1,594,152 | $28,413,500 | $47,134 | $28,366,366 |
| August 31, 2023 | 990 | $1,077,669 | $533,546 | $544,123 | $24,122,530 | $1,130 | $24,121,400 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $356,356
- Program service revenue
- $0
- Investment income
- $1,935,053
- Net gain from sales of assets
- $1,100,924
- Net income from fundraising events
- $13,307
- Other revenue
- $13,307
Expenses
- Grants and similar amounts paid
- $500,067
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $57,393
- Occupancy
- $5,828
- Program services (functional)
- $501,984
- Management and general (functional)
- $219,677
- Fundraising (functional)
- $4,348
Balance sheet and other
- Total assets, start of year
- $28,413,500
- Total assets, end of year
- $30,927,613
- Total liabilities, end of year
- $140,553
- Net assets, end of year
- $30,787,060
- Publicly traded securities
- $30,403,790
- Net assets without donor restrictions
- $182,574
- Net assets with donor restrictions
- $30,604,486
- Gross unrelated business income
- -$1,804
- Gross receipts
- $3,029,074
- Employees
- 0
- Volunteers
- 21
- Year formed
- 1996
- State of legal domicile
- TX
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 August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| S Benjamin Shabot | Chair Trustee or director, Officer | 1 | $0 |
| James Clark | Vice Chair Trustee or director, Officer | 1 | $0 |
| Kyle McFatridge | Treasurer Trustee or director, Officer | 1 | $0 |
| Jeri Kinnear | Secretary Trustee or director, Officer | 1 | $0 |
| Karen Alberstadt | Member Trustee or director | 1 | $0 |
| Michael Cordray | Member Trustee or director | 1 | $0 |
| Elizabeth Lawhorn Cryder | Member Trustee or director | 1 | $0 |
| Philesha Evans | Member Trustee or director | 1 | $0 |
| Katy Farmer | Member Trustee or director | 1 | $0 |
| John Paul Gaido | Member Trustee or director | 1 | $0 |
| Jason Hardcastle | Member Trustee or director | 1 | $0 |
| Anna Hyatt | Member Trustee or director | 1 | $0 |
| Harris Kempner Jr | Member Trustee or director | 1 | $0 |
| Cynda Mullikin | Member Trustee or director | 1 | $0 |
| Reid Nelson | Member Trustee or director | 1 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Tom Schwenk | Member Trustee or director | 1 | $0 |
| Cynthia Smith | Member Trustee or director | 1 | $0 |
| Leonard Woolsey | Member Trustee or director | 1 | $0 |
990 for the year ended August 31, 2024: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Keith McFatridge | Chair Trustee or director, Officer | 1 | $0 |
| Thomas Schwenk | Vice Chair Trustee or director, Officer | 1 | $0 |
| S Benjamin Shabot | Treasurer Trustee or director, Officer | 1 | $0 |
| Carol A Hodges | Secretary Trustee or director, Officer | 1 | $0 |
| Melanie Buck | Member Trustee or director | 1 | $0 |
| James Clark | Member Trustee or director | 1 | $0 |
| Michael Cordray | Member Trustee or director | 1 | $0 |
| Elizabeth Lawhorn Cryder | Member Trustee or director | 1 | $0 |
| Philesha Evans | Member Trustee or director | 1 | $0 |
| John Paul Gaido | Member Trustee or director | 1 | $0 |
| Jason Hardcastle | Member Trustee or director | 1 | $0 |
| Anna Hyatt | Member Trustee or director | 1 | $0 |
| Harris Kempner Jr | Member Trustee or director | 1 | $0 |
| Betty Massey | Member Trustee or director | 1 | $0 |
| Kyle McFatridge | Member Trustee or director | 1 | $0 |
| Walter J Meyer III | Member Trustee or director | 1 | $0 |
| Cynda Mullikin | Member Trustee or director | 1 | $0 |
| Reid Nelson | Member Trustee or director | 1 | $0 |
| Cynthia Smith | Member Trustee or director | 1 | $0 |
990 for the year ended August 31, 2023: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Keith McFatridge | Chair Trustee or director, Officer | 1 | $0 |
| Thomas Schwenk | Vice Chair Trustee or director, Officer | 1 | $0 |
| S Benjamin Shabot | Treasurer Trustee or director, Officer | 1 | $0 |
| Carol A Hodges | Secretary Trustee or director, Officer | 1 | $0 |
| Melanie Buck | Member Trustee or director | 1 | $0 |
| James Clark | Member Trustee or director | 1 | $0 |
| Michael Cordray | Member Trustee or director | 1 | $0 |
| Elizabeth Lawhorn Cryder | Member Trustee or director | 1 | $0 |
| Jason Hardcastle | Member Trustee or director | 1 | $0 |
| Hetta Kempner | Member Trustee or director | 1 | $0 |
| Donna Lang | Member Trustee or director | 1 | $0 |
| Betty Massey | Member Trustee or director | 1 | $0 |
| Kyle McFatridge | Member Trustee or director | 1 | $0 |
| Walter J Meyer III | Member Trustee or director | 1 | $0 |
| Cynda Mullikin | Member Trustee or director | 1 | $0 |
| Sarah Piel | Member Trustee or director | 1 | $0 |
| John D Prochaska | Member Trustee or director | 1 | $0 |
| Cynthia Smith | Member Trustee or director | 1 | $0 |
| Angela Wilson | Member Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 4015 AVENUE Q, GALVESTON, TX 77550-7447
- In care of
- % DR C B RATHBURN
- Principal officer (990 for 2024)
- S Benjamin Shabot, 4015 Avenue Q, Galveston, TX 77550
- Signed the 990
- S Benjamin Shabot, Chair
- Phone
- (409) 944-1303
- Return prepared by
- Blazek & Vetterling
Mission
The Foundation supports Galveston College through fund-raising. The mission is to support Galveston high school graduates through an earned scholarship program to obtain their first two years of college debt-free regardless of ability to pay.
Program accomplishments
- The Foundation generates philanthropic support for the Galveston Community College District (the College), primarily emphasizing Universal Access. The Universal Access program provides scholarships to high school graduates in Galveston, Texas, regardless of their ability to pay, 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.Expenses $501,984 · grants $500,067
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 August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 76-0512266
- 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
- 1996
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $30,927,613
- Income (IRS master file)
- $3,029,074
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $2,304,716 | $726,009 | $30,927,613 | XML |
| 990-T | August 2025 | – | – | – | IRS |
| 990 | August 2024 | $3,262,568 | $1,668,416 | $28,413,500 | XML |
| 990-T | August 2024 | – | – | – | IRS |
| 990 | August 2023 | $1,077,669 | $533,546 | $24,122,530 | XML |
| 990 | August 2022 | $7,009,018 | $460,680 | $22,851,553 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990 | August 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 76-0512266).
Questions about GALVESTON COLLEGE FOUNDATION
- What is the EIN of GALVESTON COLLEGE FOUNDATION?
- The employer identification number (EIN) of GALVESTON COLLEGE FOUNDATION is 76-0512266.
- Is GALVESTON COLLEGE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
- Are donations to GALVESTON COLLEGE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GALVESTON COLLEGE FOUNDATION 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 GALVESTON COLLEGE FOUNDATION due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GALVESTON COLLEGE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of GALVESTON COLLEGE FOUNDATION?
- The 990 for the year ended August 31, 2025 names S Benjamin Shabot.
- Who are the officers and directors of GALVESTON COLLEGE FOUNDATION?
- The 990 for the year ended August 31, 2025 lists 18 people; 0 received compensation from the organization.
- How much revenue does GALVESTON COLLEGE FOUNDATION have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $2,304,716, expenses of $726,009 and total assets of $30,927,613 at year end.
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