Financials

Galveston College Foundation Financials

As of August 31, 2020 and 2019

Assets Cash & Cash Equivalents Accounts Receivable Pledges Receivable - Current Pledge Receivable - Future Total Accounts Receivable Investments Total Assets 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

Liabilities and Equity Liabilities Accounts Payable Total Liabilities 1,484 1,484 4,961 4,961

Net Assets Net Assets - With Donor Restrictions Net Assets - Without Donor Restrictions Total Net Assets

Total Liabilities and Net Assets 16,452,672 155,628 16,608,300 17,243,185 226,348 15,328,583

16,609,784 15,333,544

GCF Asset Growth 2015-20

$10,578,629 $11,457,409 $13,415,616 $17,469,533

$15,333,544* $16,609,784

2015 2016 2017 2018 2019 2020

*Reflects $2.15 million payout to construction of Abe and Annie Seibel Foundation Student Residences.

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.

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.