Georgia Gwinnett College Foundationinc
- Assets
- $161.1m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrenceville, GA
- Founding
- 09/2007
- Data as of
- 06/2024
- EIN
- 20-5107997
Organization Overview
Georgia Gwinnett College Foundationinc is located in Lawrenceville, GA. The organization was established in 2007. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Gwinnett College Foundationinc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Georgia Gwinnett College Foundationinc generated $9.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $6.8m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Georgia Gwinnett College Foundationinc has awarded 35 individual grants totaling $11,502,209. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PRIMARY OBJECTIVE IS TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF THE COLLEGE IN THE AREAS OF SCHOLARSHIP, FACULTY EXCELLENCE, TECHNOLOGY, AND THE DEVELOPMENT OF CAMPUS FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S EXEMPT SERVICES ARE TWOFOLD:(I) TO HOLD CAMPUS BUILDINGS UNDER LEASES WITH THE UNIVERSITY OF GEORGIA BOARD OF REGENTS FOR USE BY FACULTY AND STUDENTS OF GEORGIA GWINNETT COLLEGE AND TO DEVELOP ADDITIONAL CAMPUS FACILITIES AS NEEDED; AND(II) TO GENERATE AND PROVIDE ADDITIONAL FUNDS FOR THE SUPPORT OF THE STUDENTS, PROGRAMS AND SERVICES OF GEORGIA GWINNETT COLLEGE, SPECIFICALLY FOR THE COLLEGE'S CORE NEEDS INCLUDING GRANTS FOR STUDENT AND FACULTY SUPPORT, RESEARCH AND DEVELOPMENT, AND SCHOLARSHIPS, IN ORDER TO HELP THE COLLEGE ACHIEVE ITS STATED GOALS AND OBJECTIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Carlton Buchanan Jr MD Trustee, Chair | OfficerTrustee | 1 | $0 |
Jann L Joseph PHD Ex-Officio Trustee, Vice-Chair | OfficerTrustee | 1 | $0 |
Jennifer Hendrickson Ex-Officio Trustee, President | OfficerTrustee | 6 | $25,717 |
Marsha Anderson Bomar Trustee, Secretary (ret'd 06/2024) | OfficerTrustee | 1 | $0 |
R Lee Tucker Jr Trustee, Treasurer | OfficerTrustee | 1 | $0 |
Reza Abree Trustee (new 09/2023) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Osprey Management Llc Commercial Contruction, Engineering & Pr | 6/29/19 | $187,738 |
Prime Contractor Inc General Construction Contractor | 6/29/19 | $372,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,873,265 |
| Noncash contributions included in lines 1a–1f | $9,782 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,873,265 |
| Total Program Service Revenue | $5,755,675 |
| Investment income | $542,087 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $582,765 |
| Net Gain/Loss on Asset Sales | $167,628 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,921,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,443,077 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,966 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,805,483 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,817,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,953,102 |
| Savings and temporary cash investments | $9,205,143 |
| Pledges and grants receivable | $2,272,679 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $63,558 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,262,388 |
| Investments—publicly traded securities | $15,100,872 |
| Investments—other securities | $0 |
| Investments—program-related | $124,258,771 |
| Intangible assets | $8,114 |
| Other assets | $7,755 |
| Total assets | $161,132,382 |
| Accounts payable and accrued expenses | $16,264 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $129,260,144 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $37,644 |
| Other liabilities | $2,810,853 |
| Total liabilities | $132,124,905 |
| Net assets without donor restrictions | $21,363,422 |
| Net assets with donor restrictions | $7,644,055 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $161,132,382 |
Grants Awarded
Over the last fiscal year, Georgia Gwinnett College Foundationinc has awarded $1,442,967 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA GWINNETT COLLEGE PURPOSE: GENERAL PROGRAM, OPERATIONS & ADMINISTRATION SUPPORT OF THE COLLEGE | $364,957 |
GEORGIA GWINNETT COLLEGE PURPOSE: GENERAL ACADEMIC, CLASSROOM AND/OR SUPPLIES SUPPORT OF THE COLLEGE | $766,309 |
GEORGIA GWINNETT COLLEGE PURPOSE: NEED & MERIT BASED SCHOLARSHIPS APPROVED BY THE COLLEGE & FUNDED BY THE FOUNDATION | $311,701 |