The following breakout is a summary of GSUSA’s financials during FY2021, and this data comes from two sets of reports:
Before delving into the data, you may want to read through this article called How to Navigate Council Finances if you aren’t already familiar with nonprofit financial documents and reports. Even though it’s specific to councils, it explains what some of the following information provides, what it means, and its context.
“FY2021” covers the period between 10/1/2020 and 9/30/2021.
Note that this is NOT an in-depth review of finances, and conclusions should not be based on this very brief snapshot. For a more complete picture, one should look through all balance sheets and review them over a number of years.
REVENUE
These figures come from the FY2021 audit (pg. 6):
Software maintenance comprises payments from councils for the use of Volunteer Systems 2.0, the GSUSA IT platform that all councils are required to use.
EXPENSES
Expenses for FY2021 were as follows in these major categories:
Revenue category definitions for can be found on pg. 10-11 of the audit. Many things can fall under “Comprehensive council support” and “Girl program development and adult learning opportunities” including:
- Salaries and related benefits
- Travel and related expense
- Nonstaff services
- Professional services
- Rent, occupancy and depreciation
- Office, publishing and technology
- Grants and scholarships
- Other expenses
A breakout of these specifics can be found on pg. 7 of the audit.
GSUSA is in the process of building and maintaining a council-wide IT platform called Volunteer Systems 2.0 (formally known as CEI) that all councils are required to use as a part of their charter criteria. Expenses for VS 2.0 cost $23,100,000 ($7.7 mil capital & $15.4 mil expenses) during FY2021. Over $10 million of that was through the use of outside contractors. This IT development expense is counted under the “Comprehensive council support” category. Taking out that amount presents this picture:
The Consolidated Statements of Financial Position (listing of assets & liabilities) is found on pg. 5 of the audit.
NOTES OF INTEREST
* GSUSA received $7,307,000 in a Payroll Protection Program (PPP) loan from the federal government in FY2020 which was forgiven. In May of 2021, GSUSA received an additional $2,000,000 PPP loan which also has since been forgiven for FY2022 (FY2021 990, pg. 74-75).
* GSUSA spent $42,098,000 on salaries in FY2021, down from $58,626,000 in FY2020.
* There was a large increase in gifts, grants, and bequests in FY2021. In FY2020, $8,445,000 was brought in versus $28,218,000 in FY2021.
* A total of $2,994,645 was spent on legal services in FY2021 (FY2021 990, pg. 15).
* Over $2 million was saved in travel expenses in FY2021 compared to the previous year (FY2021 990, pg. 15).
* The top 16 salaries of GSUSA’s Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees were as follows (FY2021 990, pg. 10):
The total column reflects a combination of a base salary, bonus & incentives, retirement & other deferred compensation, and nontaxable benefits.
Six of the top 16 salaries are to employees who left during the previous fiscal year but continue to receive compensation for a total of $2,897,556.
* Total number of GSUSA staff employed during FY2021: 478 (FY2021 990, pg. 3). This is down from 558 in FY2020.
* Total number of GSUSA staff making over $100,000: 191 (FY2021 990, pg. 11). This is up from 170 in FY2020.
* One GS Media (CircleAround.com website launched in June 2020) brought in $666,352 of revenue for FY2021. GSUSA originally invested $2.75 million to get One GS Media and CircleAround off the ground. According to the 2021 Stewardship Report, a total of $5.75 million has been invested through FY2021 with another $1 million allocated for FY2022. Additionally, MRM Media provided $900,000 of pro bono work. In Sept of 2020, GSUSA released a FAQ about One GS Media and CircleAround. A Statement of Financial Position for One GS Media can be found on page 43 of the FY2021 Audit.
* GSUSA’s line of credit was used again in FY2021. A line of credit is a preset borrowing limit that can be tapped into at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. In FY2020, GSUSA borrowed $7 million against its line of credit and took out an additional $17 million in FY2021 for a total of $24 million at this time. Interest paid on the line of credit totaled $201,000 (FY2021 audit, pg. 27).
* GSUSA distributed $9.2 million to councils in the form of grants (FY2021 990, pg. 15). Specific amounts per council can be found in the FY2021 990 starting on pg. 53.
* Top 5 Contractors (FY2021 990, pg. 11):
Independent contractors receiving over $100,000: 119 (FY2021 990, pg. 11). This is up from 69 in FY2020.
THROUGH THE YEARS
The following figures are from official audits and differ slightly than what is found in the 990s due to accounting differences. Revenue from FY2018 included the $10 raise in membership dues.
The next two charts’ data are pulled from 990s:
Major lawsuit dates:
- Farthest North: FY2017 – FY2021
- BSA: FY2019 – ongoing
- Middle Tennessee: FY2021 – ongoing
Other charts of interest:
To reiterate, this is a very brief snapshot of GSUSA’s financials for FY2021 and doesn’t include any information about investments and holdings. It is recommended that you consult the audit and 990 for more detailed information and specifics. A FY2020 Financial Summary has also been published.