University Of North Georgia Foundation Inc
- Assets
- $100.6m
- Revenue
- $25.4m
- Investments
- $3.9m
- Employees
- 15
- Location
- Dahlonega, GA
- Founding
- 04/1961
- Data as of
- 06/2022
- EIN
- 23-7066297
Organization Overview
University Of North Georgia Foundation Inc is located in Dahlonega, GA. The organization was established in 1961. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2024, University Of North Georgia Foundation Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of North Georgia 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 06/2022, University Of North Georgia Foundation Inc generated $25.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $12.1m during the year ending 06/2022. While expenses have increased by 8.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR COMPLETE DESCRIPTION.THE PURPOSES OF THE FOUNDATION ARE TO PROMOTE AND ENCOURAGE CHARITABLE GIVING AND PHILANTHROPY FOR THE BENEFIT OF UNIVERSITY OF NORTH GEORGIA;TO SUPPLEMENT AND EXPAND THE HORIZONS OF UNIVERSITY OF NORTH GEORGIA IN ITS REGIONAL, STATEWIDE AND NATIONAL MISSIONS AS WELL AS SERVE AS AN ADVOCATE FOR THE UNIVERSITY AND ITS DESIGNATION AS THE SENIOR MILITARY COLLEGE OF THE STATE OF GEORGIA. THE FOUNDATION WILL RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN ORDER TO CONTRIBUTE TO A SUPERIOR EDUCATION FOR STUDENTS, ATTENDING NOT ONLY TO THEIR INTELLECTUAL GROWTH BUT ALSO TO THEIR DEVELOPMENT AS ADULTS COMMITTED TO HIGH ETHICAL STANDARDS AND FULL PARTICIPATION AS LEADERS IN THEIR MILITARY, PUBLIC, PRIVATE, AND NON-PROFIT FIELDS OF ENDEAVOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SERVICES - FUNDS FOR STUDENT FINANCIAL AID AND SUPPORT OF STUDENT LIFE PROGRAMS.
ACADEMIC AND OTHER PROGRAM SUPPORT - SUPPLEMENTAL SALARY SUPPORT, FACULTY DEVELOPMENT AND EQUIPMENT SUPPORT.
SUPPORT FOR UNIVERSITY OF NORTH GEORGIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mike P Shannon Trustee, President Ung | Trustee | 1 | $0 |
Mr Nicholas W Massengill Chairman | OfficerTrustee | 4 | $0 |
Mr Jack Elrod Vice-Chairman | OfficerTrustee | 4 | $0 |
Mr Christopher H Kitchens Treasurer, Committee Chairman | OfficerTrustee | 4 | $0 |
Mr Glennis Barnes Secretary | OfficerTrustee | 4 | $0 |
Ms Beth H Baldwin Committee Chairman | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,412,469 |
| Investment income | $899,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $694 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $273,211 |
| Net Income from Fundraising Events | -$69,497 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,395,245 |
| Statement of Expenses | |
|---|---|
| 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 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 | $1,329 |
| Fees for services: Accounting | $30,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $148,247 |
| Fees for services: Other | $958,111 |
| Advertising and promotion | $180,767 |
| Office expenses | $279,252 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,504 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,980 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,763 |
| All other expenses | $0 |
| Total functional expenses | $12,075,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,177,420 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,971,616 |
| Accounts receivable, net | $49,949 |
| 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 | $3,170 |
| Investments—publicly traded securities | $82,449,503 |
| Investments—other securities | $3,922,358 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,359 |
| Total assets | $100,612,375 |
| Accounts payable and accrued expenses | $15,287 |
| Grants payable | $0 |
| Deferred revenue | $33,000 |
| Tax-exempt bond liabilities | $0 |
| 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 | $500,000 |
| Other liabilities | $140,930 |
| Total liabilities | $689,217 |
| Net assets without donor restrictions | $9,015,491 |
| Net assets with donor restrictions | $90,907,667 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $99,923,158 |
Grants Awarded
Over the last fiscal year, University Of North Georgia Foundation Inc has awarded $10,402,202 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NORTH GEORGIA PURPOSE: Scholarships, Programs, and Faculty Support for UNG | $7,682,202 |
GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PURPOSE: Cottrell building project | $2,720,000 |