Galveston College Foundation Financials
As of August 31, 2020 and 2019 2020
2019
15,625
39,610
39,610 6,000 42,964 16,551,195 16,609,784
7,253 31,308 38,561 15,255,373 15,333,544
1,484 1,484
4,961 4,961
Net Assets Net Assets - With Donor Restrictions Net Assets - Without Donor Restrictions Total Net Assets
16,452,672 155,628 16,608,300
17,243,185 226,348 15,328,583
Total Liabilities and Net Assets
16,609,784
15,333,544
Assets Cash & Cash Equivalents Accounts Receivable Pledges Receivable - Current Pledge Receivable - Future Total Accounts Receivable Investments Total Assets Liabilities and Equity Liabilities Accounts Payable Total Liabilities
L to R: Donna Hatch, Tracy Rost (DAR recipient), Saranne Labay. Mrs. Hatch & Mrs. Labay represent Daughters of the American Revolution George Washington Chapter Scholarship. Feb. 2020.
Scholarship recipients (l to r) Sarah Filip, Cynthia Christensen and Payton Marks. Students received the Marionette Beyah Scholarship, Galveston Community Memorial Scholarship, and the Greater Texas Foundation Scholarship. Feb. 2020.
GCF Asset Growth 2015-20 $17,469,533 $15,333,544* $10,578,629
2015
$11,457,409
2016
$16,609,784
$13,415,616
2017
2018
2019
2020
*Reflects $2.15 million payout to construction of Abe and Annie Seibel Foundation Student Residences.
10 Galveston College Foundation
Travis Fanning, Frost Trust representative and Terry Frank, Galveston College Foundation Treasurer, with Martha Lopez (Lipson Trust Scholarship recipient) and Lila Filip (Rudy Tomjanovich Foundation Scholarship recipient). Feb. 2020.
2020 Annual Report
