The Georgia Health Sciences Foundation Inc
- Assets
- $27.5m
- Revenue
- $7.4m
- Investments
- $23.1m
- Employees
- 0
- Location
- Augusta, GA
- Founding
- 10/2008
- Data as of
- 06/2021
- EIN
- 35-2310573
Organization Overview
The Georgia Health Sciences Foundation Inc is located in Augusta, GA. The organization was established in 2008. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Health Sciences 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, Georgia Health Sciences Foundation Inc generated $7.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $4.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Georgia Health Sciences Foundation Inc has awarded 12 individual grants totaling $35,501,701. 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
THE GEORGIA HEALTH SCIENCES FOUNDATION, INC. (THE "FOUNDATION") WAS ESTABLISHED TO CONTRIBUTE TO THE LONG-TERM ENHANCEMENT OF AUGUSTA UNIVERSITY, PROVIDING VOLUNTEER LEADERSHIP AND ASSISTANCE TO THE UNIVERSITY IN ITS DEVELOPMENT AND FUNDRAISING ACTIVITIES. IN ADDITION, THE FOUNDATION PROVIDES BROAD ADVICE, CONSULTATION, AND SUPPORT TO THE PRESIDENT OF THE UNIVERSITY.
Describe the Organization's Program Activity:
THE FOUNDATION WAS FOUNDED TO BE A PARTNER DESIGNATED TO MANAGE PHILANTHROPIC GIFTS TO AUGUSTA UNIVERSITY (AU) & AU MEDICAL CENTER INC. NOW, MORE THAN EVER IN AU'S HISTORY, WE MUST BE ABLE TO RELY FULLY ON OUR COOPERATIVE PARTNERS TO SUPPORT GHSF'S VISION OF BECOMING ONE OF THE NATION'S PREMIER ACADEMIC HEALTH CENTERS. WE ARE GROWING THE CLASS SIZE IN OUR DENTISTRY SCHOOL, ADDING NEW DISTANCE LEARNING SITES TO EXPAND THE REACH OF OUR SCHOOLS OF ALLIED HEALTH SCIENCES AND NURSING, AND OPERATIONALIZING AN AGGRESSIVE STATEWIDE EXPANSION OF OUR MEDICAL EDUCATION PROGRAM TO MEET GEORGIA'S CRITICAL PHYSICIAN SHORTAGE. TO ACCOMMODATE THESE AMBITIOUS INITIATIVES, WE HAVE PARTNERED WITH LOCAL GOVERNMENTS TO INCREASE OUR CAMPUS FOOTPRINT IN AUGUSTA, FORMED EDUCATIONAL AND CLINICAL PARTNERSHIPS IN ATHENS, SAVANNAH, AND ALBANY, AND HAVE BEGUN SEEKING NUMEROUS FINANCIAL PARTNERS TO HELP US BUILD NEW FACILITIES. GROWTH OF THIS SCOPE REQUIRES STRONG PARTNERSHIP WITH OUR COOPERATIVE ORGANIZATIONS.
GRANTS WERE PROVIDED TO AUGUSTA UNIVERSITY FOR SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ms Susan Nicholson Vice Chair | OfficerTrustee | 2 | $0 |
Ms Karen Hughes Treasurer | OfficerTrustee | 2 | $0 |
Mr Bruce Ashendorf Secretary | OfficerTrustee | 2 | $0 |
Mr Robert C Osborne Immediate Past Chair | OfficerTrustee | 2 | $0 |
Ms Debbie Layman Chair | OfficerTrustee | 2 | $0 |
Mr Stephen Wertz CFO | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,251,083 |
| Government grants | $345,857 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,559,941 |
| Noncash contributions included in lines 1a–1f | $193,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,156,881 |
| Total Program Service Revenue | $49,736 |
| Investment income | $291,144 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,300 |
| Net Gain/Loss on Asset Sales | $937,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,447,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,588,627 |
| 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 | $47,786 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,395 |
| Fees for services: Other | $0 |
| Advertising and promotion | $112,887 |
| Office expenses | $41,768 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,651 |
| Travel | $23,480 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,429 |
| All other expenses | $0 |
| Total functional expenses | $4,911,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,367,620 |
| Accounts receivable, net | $0 |
| 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 | $191,586 |
| Net Land, buildings, and equipment | $2,295,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,083,390 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,993 |
| Total assets | $27,494,312 |
| Accounts payable and accrued expenses | $67,855 |
| Grants payable | $0 |
| Deferred revenue | $816,410 |
| 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 | $0 |
| Other liabilities | $493,339 |
| Total liabilities | $1,377,604 |
| Net assets without donor restrictions | $6,354,678 |
| Net assets with donor restrictions | $19,762,030 |
| 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 | $27,494,312 |
Grants Awarded
Over the last fiscal year, The Georgia Health Sciences Foundation Inc has awarded $3,588,627 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Augusta, GA PURPOSE: FUNDS ARE PAID TO AUGUSTA UNIVERSITY TO SUPPORT DONOR RESTRICTED PROGRAMS | $2,362,156 |
Augusta, GA PURPOSE: FUNDS ARE PAID TO AUGUSTA UNIVERSITY FOR SCHOLARSHIPS | $1,226,471 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Georgia Health Sciences Foundation Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Beard-Payne Family Foundation Inc Atlanta, GA PURPOSE: EDUCATION/RESEARCH | $40,000 |
Endowment Analysis
| Beg. Balance | $4,060,803 |
| Earnings | $1,144,924 |
| Net Contributions | $385,806 |
| Other Expense | $129,637 |
| Ending Balance | $5,461,896 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Association Of Realtors Inc Atlanta, GA | $16,334,740 | $7,998,537 |
Grady Cass Incorporated Atlanta, GA | $161,041,116 | $0 |
The Georgia Health Sciences Foundation Inc Augusta, GA | $27,494,312 | $7,447,103 |
Greater Tampa Association Of Realto Rs Inc Tampa, FL | $22,775,410 | $5,538,850 |
Rancho Cucamonga Ii Inc Charlotte, NC | $253,822,278 | $8,749,351 |
Longleaf Pine Realtors Inc Fayetteville, NC | $7,914,934 | $3,962,762 |
Regional Properties Inc Miami, FL | $42,950,454 | $5,019,456 |
Northeast Florida Association Of Realtors Inc Jacksonville, FL | $16,813,505 | $4,406,893 |
Atlanta Realtors Association Inc Atlanta, GA | $8,002,087 | $2,853,636 |
Boscobel Heights Development Company Inc Nashville, TN | $26,913,589 | $950,458 |
Houston Healthcare Properties Inc Warner Robins, GA | $28,129,794 | $1,213,722 |
Avow Real Estate Inc Naples, FL | $17,821,886 | $1,356,778 |