Garrett Community College Foundation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 859,577 | 894,482 | −34,905 | 62.2 | 0% |
| 2021 | 2,152,965 | 949,613 | 1,203,352 | 83.0 | 0% |
| 2022 | 1,130,559 | 859,279 | 271,280 | 78.0 | 0% |
| 2023 | 1,043,225 | 1,109,722 | −66,497 | 64.9 | 0% |
In its most recent public year (2023), this organization spent $66,497 more than it brought in. Its reserves stood at about 64.9 months of spending, up from 62.2 in 2020. Staff pay was 0% of spending. $8,021,292 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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