Financial Results 2014 – Recognizing Donors 2015 – Looking Ahead in This Report
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The GOAL Report 2013 – Financial Results 2014 – Recognizing Donors 2015 – Looking Ahead In this Report: Message from GOAL . 3. GOAL Board & Corporate Advisory Board . 4 GOAL Participating Schools . 5 Contents 2013 - Financial Results 2013 GOAL Revenues & Expenses . 6 GOAL Scholarships Awarded Through 2013-2014 . 7 2014 - Recognizing Donors 2014 Contribution Results . 8 Thanking GOAL Contributors . 9. 2015 - Looking Ahead Legislative Advocacy . 10 You Deserve the “Credit!” . 11 “There are so many factors and moving parts to this amazing program. But one thing that has always remained clear about GOAL is that your core motivation is the desire to serve the students and families of Georgia through school choice. You have never wavered and have demonstrated time and time again, with the purest motives, your commitment to our school and students. You make an effort to know them individually and have seen first-hand the benefit of a private education. I could not be prouder of our association with Georgia GOAL. Thank you for your hard work and dedication.” – Jennifer New, Director of Development Mount Paran Christian School 2 Message from GOAL Dear Friends of GOAL, You have become part of a phenomenon. Georgia’s Education Expense Credit law presents a powerful opportunity to give parents more freedom in choosing the best K-12 education for their children. However, without your energy, enthusiasm and investment, the program would mean nothing, and would go nowhere. Through your diligence in seeking Education tax credits earlier each year, this life-changing program is having a statewide impact. To the thousands of thankful scholarship families, you are true American heroes. You are giving your community, our state, and ultimately our nation a chance to aim higher and achieve more. Thank you for being a part of this success by contributing to provide educational choice in Georgia. Truly, you deserve the “credit!” With appreciation, Lisa M. Kelly, President Georgia GOAL Scholarship Program, Inc. 3 GOAL Board & Corporate Advisory Board GOAL Board of Directors Rick Gilbert, Chairman Karen Baynes-Dunning Tim Embry Stan Epperson Terry Hartman Allen Hughes Co-Founder & COO Attorney Owner/CEO President Director Owner Atlanticus Holdings Corporation Child and Family Advocate American Lubefast Deli Provision Co. Vera Jackson Scholarship Program Fourth Element, Inc. & Walton Press, Inc. Dean Mathison Albert Murray Gerard Robinson Pastor Dexter Rowland Chris Welton VP & Corporate Controller Chairman VP of Partnerships Senior Pastor CEO InterContinental Exchange Georgia State Board UniversityNow New Piney Grove United States Equestrian of Pardons and Paroles Missionary Baptist Church Federation GOAL Corporate Advisory Board Charles K. Tarbutton, Joe Arnold Susan R. Bell Andrew J. Berg Jimmy Fleming Chairman Senior Vice President Atlanta Office Managing Co-Founder & CEO Director of Human Resources Assistant Vice President SunTrust Bank Partner Homrich Berg Vulcan Materials Company Sandersville Railroad Company Ernst & Young Joan Herbig Hope Lanier Dean Mathison Scott Starowicz Tracy Williams Chief Executive Officer Director, Government and VP & Corporate Controller Controller Market President / ControlScan Public Affairs - Southeast InterContinental Exchange Ambata Services, Inc. Northeast Atlanta BP America State Bank & Trust Company 4 GOAL Participating Schools Eagle’s Landing Christian Academy Perimeter School Did you know... Eastminster School Pinecrest Academy Eastside Christian School Providence Christian Academy GOAL works with Episcopal Day School Providence Christian School 124 of Georgia’s best Fellowship Christian School Rabun Gap-Nacoochee School private schools. First Presbyterian Christian Academy Riverside Military Academy First Presbyterian Day School Robert Toombs Christian Academy Gatewood Schools The Ron Clark Academy Appling Christian Academy George Walton Academy The SAE School Arlington Christian School Grace Christian Academy Savannah Christian Preparatory School Athens Christian School Greater Atlanta Christian School Sherwood Christian Academy Atlanta Classical Christian Academy Greenforest McCalep Christian Academy Sophia Academy Atlanta Youth Academy The Habersham School Southland Academy Augusta Christian Schools Harvester Christian Academy Southwest Atlanta Christian Academy Augusta Preparatory Day School Heritage Academy St. Andrew’s School Benedictine Military School The Heritage School St. Benedict’s Episcopal Day School Berry College Elementary & Middle School Holy Spirit Preparatory School St. George’s Episcopal School Bethesda Academy The Howard School St. Luke School Bible Baptist School John Hancock Academy Stratford Academy Brandon Hall School John Milledge Academy Strong Rock Christian School Brentwood School Killian Hill Christian School Sugar Hill Christian Academy Brenwood Academy Konos Connection The Swift School Briarwood Academy Lafayette Christian School Tallulah Falls School Bridgeway Christian Academy LaGrange Academy Tattnall Square Academy Brookstone School Lakeview Academy Terrell Academy Brookwood School Landmark Christian School Tiftarea Academy Bulloch Academy Legacy Christian Academy Trinity Chapel Academy Calvary Christian School The Lionheart School Trinity Christian School, Dublin Calvary Day School Loganville Christian Academy Trinity Christian School, Sharpsburg Chapel Hill Christian School Marist School Twiggs Academy Cherokee Christian Schools McDonough Methodist Academy Unity Christian School Chrysalis Experiential Academy Mill Springs Academy Valwood School Community Christian School Monsignor Donovan Catholic High School Victory World Christian School Cornerstone Christian Academy Montessori of Macon Vidalia Heritage Academy The Cottage School Mount Paran Christian School Wesleyan School Covenant Academy Mount Pisgah Christian School The Westfield School Creekside Christian Academy Mountain Area Christian Academy Westminster Christian Academy Crisp Academy Mt. Bethel Christian Academy Westminster Schools of Augusta Cumberland Academy of Georgia Nathanael Greene Academy Westwood Schools Curtis Baptist School North Georgia Christian School Whitefield Academy Darlington School Notre Dame Academy Wildwood Christian Academy David Emanuel Academy Old Suwanee Christian School Windsor Academy Dawson Street Christian School Paul Anderson Youth Home Woodfield Academy Deerfield-Windsor School Peachtree Academy Private School Woodward Academy GOAL School Advisory Committee A team of advisors from GOAL Participating Schools is an invaluable asset for the GOAL Program. These individuals have helped solidify GOAL’s leadership position among student scholarship organizations. 5 2013 GOAL Revenues & Expenses 2013 Revenues Obligated for scholarships $14,327,814 95.03% Administration 748,815 4.97% TOTAL $15,076,629 100 .00% 2013 Expenses Scholarships provided $13,142,844 90.43% Payroll & benefits 578,974 3.98% Transfers to other SSOs 224,176 1.54% Professional fees 50,282 0.35% Investment advisory fees 85,239 0.59% Marketing 9,429 0.06% 2013 - Financial Results Contracted services 8,208 0.06% Travel 17,743 0.12% Supplies 29,735 0.20% Web development 47,634 0.33% Postage 14,566 0.10% Internet and web services 10,936 0.08% Credit card fees 110,104 0.76% Other 60,989 0.42% Legal & admin services (donated) 100,600 0.69% Office space (donated) 42,458 0.29% TOTAL $14,533,917 100 .00% The financial statements of Georgia GOAL Scholarship Program, Inc. are audited annually by the independent CPA firm Windham Brannon, P.C. For all years of operation, from 2008 through 2013, the audit opinion has declared that GOAL’s financial statements present fairly, in all material respects, the financial position of Georgia GOAL Scholarship Program, Inc., and the results of its activities, changes in net assets, and cash flows in conformity with accounting principles generally accepted in the United States. To see the complete audit report, including financial statements and footnotes, please contact GOAL at 770-828-4625. 6 GOAL Scholarships Awarded Through 2013-2014 “Through the GOAL Scholarship, I was granted the opportunity to come to Bethesda, and was able to be more involved because it wasn’t as overcrowded as my old school. I took this opportunity to my advantage. I enjoy playing piano for chapel each week.” Eric Brack, 11th grader Bethesda Academy Totals Since Program Inception All Years Total Scholarship Awards by Region # of Scholarships Awarded 12,569 North $ Amount of Awards $47.6 million 1,726 Georgia Average Award $3,783 Metro Atlanta Average AGI adjusted for family size $25,142* 4,419 % of minority recipients 36% Middle Georgia *AGI adjusted for family size using the OECD-modified scale. This scale assigns a value of 1 to the household head, of 0.5 to each 3,311 additional adult member and of 0.3 to each child. Total Dollars Awarded by Income Level Since Inception $30,000,000 $27,238,724 3,113 $25,000,000 South Georgia $20,000,000 $15,000,000 $11,097,002 $10,000,000 $5,501,432 $5,000,000 $2,373,480 $759,647 $421,002 $163,276 $0 Did you know... Below $24,000 $24,001 to $36,001 to $48,001 to $60,001 to $72,001 to Over $90,000 $36,000 $48,000 $60,000 $72,000 $90,000 Since 2008, GOAL has awarded scholarships to nearly 7,000 GOAL has obligated an additional $36 million that is earmarked for providing 2014-15 scholarship awards and for fulfilling future scholarship payments deserving Georgia and awarding additional scholarships to parents who choose to send their students. children to qualified private pre-K-12