Georgia Tech Research Corporation
- Assets
- $330.1m
- Revenue
- $394.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 10/1947
- Data as of
- 06/2022
- EIN
- 58-0603146
Organization Overview
Georgia Tech Research Corporation is located in Atlanta, GA. The organization was established in 1947. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Tech Research Corporation 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, Georgia Tech Research Corporation generated $394.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $379.5m during the year ending 06/2022. While expenses have increased by 3.6% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GEORGIA TECH RESEARCH CORPORATION ADVANCES RESEARCH AND TECHNOLOGICAL DEVELOPMENT AT GEORGIA TECH AS IT CONTINUALLY SEEKS TO ADVANCE SOCIETY AND THE GLOBAL COMPETITIVENESS OF GEORGIA AND THE NATION. GTRC SUPPORTS AND PROMOTES RESEARCH THROUGH ITS STEWARDSHIP OF THE FUNDS FOR SPONSORED RESEARCH AND FINANCIAL SUPPORT OF RESEARCH ACTIVITIES. GTRC EMBODIES GEORGIA TECH'S FOUNDING SPIRIT OF ENTREPRENEURSHIP AND FOCUS ON THE APPLICATIONS OF ENGINEERING, SCIENCE AND TECHNOLOGY TO THE CREATION OF MEANINGFUL NEW IDEAS, METHODS, AND OPPORTUNITIES. THROUGH TECHNOLOGY TRANSFER, GTRC ENABLES THE INSTITUTE TO MAINTAIN BENEFICIAL PARTNERSHIPS WITH PUBLIC AND PRIVATE SECTORS IN RESEARCH AND TECHNOLOGY TO ASSURE THE BENEFITS OF DISCOVERY ARE WIDELY DISSEMINATED.
Describe the Organization's Program Activity:
THE GEORGIA INSTITUTE OF TECHNOLOGY RESEARCH ACTIVITY IS SUPPORTED BY THE GEORGIA TECH RESEARCH CORPORATION WHICH CONSISTS OF OVER 2,000 INDIVIDUAL PROJECTS FOR GOVERNMENTS AND INDUSTRY. PAYMENTS AND REIMBURSEMENT OF EXPENSES AND GRANTS TO AND FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY HAVE BEEN MADE. THE GEORGIA TECH RESEARCH CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY WHICH IS A UNIT OF THE UNIVERSITY SYSTEM IN THE STATE OF GEORGIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chaouki T Abdallah President And Treasurer | OfficerTrustee | 1 | $0 |
Kelly Fox Trustee | Trustee | 1 | $0 |
Steven Mclaughlin Trustee | Trustee | 1 | $0 |
John Barnard Trustee | Trustee | 0.5 | $0 |
Patricia K Falcone Trustee | Trustee | 0.5 | $0 |
Scott Frank Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Georgia Institute Of Technology Research | 6/29/22 | $351,634,914 |
Edx Inc Online Courses | 6/29/22 | $2,303,099 |
Amsure - A Division Of Atcfsi Insurance Services | 6/29/22 | $851,693 |
Gt Global Inc Research Support | 6/29/22 | $450,000 |
Cherry Bekaert Llp Accounting Services | 6/29/22 | $323,500 |
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 | $4,601,696 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,601,696 |
| Total Program Service Revenue | $379,296,509 |
| Investment income | $42,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,773,455 |
| Net Rental Income | $7,301,779 |
| Net Gain/Loss on Asset Sales | $159,996 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $394,284,432 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,558,332 |
| 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 | $413 |
| Fees for services: Accounting | $110,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $78,685 |
| Fees for services: Other | $358,134,885 |
| Advertising and promotion | $0 |
| Office expenses | $132,953 |
| Information technology | $141,324 |
| Royalties | $5,409,390 |
| Occupancy | $0 |
| Travel | $5,713 |
| 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 | $7,445,566 |
| Insurance | $299,805 |
| All other expenses | $132,160 |
| Total functional expenses | $379,540,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $120,665,951 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,426,404 |
| 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 | $308,760 |
| Net Land, buildings, and equipment | $563,275 |
| Investments—publicly traded securities | $61 |
| Investments—other securities | $0 |
| Investments—program-related | $1,880,377 |
| Intangible assets | $0 |
| Other assets | $119,261,641 |
| Total assets | $330,106,469 |
| Accounts payable and accrued expenses | $46,355,752 |
| Grants payable | $0 |
| Deferred revenue | $94,936,836 |
| 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 | $120,350,108 |
| Total liabilities | $261,642,696 |
| Net assets without donor restrictions | $63,745,987 |
| Net assets with donor restrictions | $4,717,786 |
| 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 | $330,106,469 |