Kennesaw State University Foundation Inc
- Assets
- $537.5m
- Revenue
- $85.5m
- Investments
- $80.6m
- Employees
- 0
- Location
- Kennesaw, GA
- Founding
- 08/1969
- Data as of
- 06/2021
- EIN
- 23-7034345
Organization Overview
Kennesaw State University Foundation Inc is located in Kennesaw, GA. The organization was established in 1969. 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. Kennesaw State University Foundation Inc 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 06/2021, Kennesaw State University Foundation Inc generated $85.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $38.7m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kennesaw State University Foundation Inc has awarded 43 individual grants totaling $59,470,952. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS AN ADVOCATE FOR KENNESAW STATE UNIVERSITY, AND TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF THE UNIVERSITY.
Describe the Organization's Program Activity:
LEASING OPERATIONS - PROVIDE STUDENT HOUSING, PARKING, OFFICE, DINING AND SPORTS AND RECREATION FACILITIES TO THE UNIVERSITY.
TO FUND KENNESAW STATE UNIVERSITY ACADEMIC PROGRAMS AND SCHOLARSHIPS.
SUPPORT OF UNIVERSITY PROGRAMS.
OTHER PROGRAM SERVICES PROVIDED FOR THE UNIVERSITY BY THE FOUNDATION INCLUDE ATHLETICS CONSULTANT FEES, HEALTH SCIENCES PROGRAM SUPPORT, STUDY ABROAD PROGRAM SUPPORT, SPORTS PARK SUB-RENTAL FEES, ART MUSEUM CONSTRUCTION FUNDS, CONTINUING EDUCATION PROGRAM SUPPORT, PRESIDENT'S OFFICE EXPENSES, AND CAMPUS-WIDE EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Trenton D Turk Chair | OfficerTrustee | 1 | $0 |
Mr Steven I Cadranel Vice Chair-Chair Elect | OfficerTrustee | 1 | $0 |
Mr Douglas E Jones Secretary | OfficerTrustee | 1 | $0 |
Mr Andre Schnabl Treasurer | OfficerTrustee | 1 | $0 |
Mr James P Dunn Immediate Past Chair | OfficerTrustee | 1 | $0 |
Mr Lance E Burchett CEO | Officer | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ajax Building Company Llc Construction | 6/29/21 | $1,909,449 |
Georgia Mechanical Inc Repair And Maintenance | 6/29/21 | $2,162,081 |
Collins Cooper Carusi Architects Inc Architects | 6/29/21 | $1,486,333 |
Albion Scaccia Construction | 6/29/21 | $2,179,522 |
Southwest Contract Construction | 6/29/21 | $1,300,104 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $470,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,967,027 |
| Noncash contributions included in lines 1a–1f | $280,383 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,437,027 |
| Total Program Service Revenue | $38,587,883 |
| Investment income | $1,480,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,013,342 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,548,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,222,770 |
| 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 | $39,727 |
| Fees for services: Accounting | $269,557 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $244,846 |
| Fees for services: Other | $14,709 |
| Advertising and promotion | $6,535 |
| Office expenses | $305,996 |
| Information technology | $175,886 |
| Royalties | $0 |
| Occupancy | $3,034,499 |
| Travel | $13,432 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $217,650 |
| Interest | $12,172,849 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,429,139 |
| Insurance | $0 |
| All other expenses | $515,663 |
| Total functional expenses | $38,721,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,442,335 |
| Pledges and grants receivable | $16,469,753 |
| Accounts receivable, net | $588,167 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $63,574 |
| Net Land, buildings, and equipment | $92,192,740 |
| Investments—publicly traded securities | $19,765,052 |
| Investments—other securities | $80,587,393 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $291,346,979 |
| Total assets | $537,455,993 |
| Accounts payable and accrued expenses | $3,234,306 |
| Grants payable | $0 |
| Deferred revenue | $5,122,198 |
| Tax-exempt bond liabilities | $371,398,064 |
| 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 | $0 |
| Other liabilities | $15,040,694 |
| Total liabilities | $394,795,262 |
| Net assets without donor restrictions | $14,692,465 |
| Net assets with donor restrictions | $127,968,266 |
| 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 | $537,455,993 |
Grants Awarded
Over the last fiscal year, Kennesaw State University Foundation Inc has awarded $6,222,770 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
KENNESAW STATE UNIVERSITY PURPOSE: TO PROVIDE MONIES TO KSU FOR STUDENT SCHOLARSHIPS | $3,397,600 |
KENNESAW STATE UNIVERSITY PURPOSE: ACADEMIC PROGRAMS AND DEAN SUPPORT | $1,930,623 |
KENNESAW STATE UNIVERSITY PURPOSE: OTHER UNIVERSITY SUPPORT | $832,388 |
KENNESAW STATE UNIVERSITY PURPOSE: UNIVERSITY EVENTS & PROGRAMS | $62,159 |
Grants Recieved
Over the last fiscal year, we have identified 45 grants that Kennesaw State University Foundation Inc has recieved totaling $15,206,700.
| Awarding Organization | Amount |
|---|---|
Bobbie Bailey Foundation Inc Tucker, GA PURPOSE: SCHOLARSHIP FUNDS | $8,550,000 |
Chantal And Tommy Bagwell Foundation Inc Cumming, GA PURPOSE: SCHOLARSHIPS & GENERAL FUND | $1,681,667 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $1,049,750 |
Goizueta Foundation Inc Atlanta, GA PURPOSE: PROGRAM | $1,000,000 |
Charles Koch Foundation Arlington, VA PURPOSE: GENERAL OPERATING SUPPORT | $958,667 |
Jewish Federation Of Greater Atlanta Inc Atlanta, GA PURPOSE: DONATIONS | $407,750 |
Endowment Analysis
| Beg. Balance | $59,137,727 |
| Earnings | $16,262,962 |
| Net Contributions | $22,389,879 |
| Grants | $1,294,643 |
| Ending Balance | $96,495,925 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |