Georgia Tech Alumni Association Inc
- Assets
- $3.3m
- Revenue
- $7.6m
- Investments
- $929.8k
- Employees
- 56
- Location
- Atlanta, GA
- Founding
- 03/1949
- Data as of
- 06/2024
- EIN
- 58-0634853
Organization Overview
Georgia Tech Alumni Association Inc is located in Atlanta, GA. The organization was established in 1949. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 06/2024, Georgia Tech Alumni Association Inc employed 56 individuals. This organization is the central organization for a national or regional group of organizations. Georgia Tech Alumni Association 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 06/2024, Georgia Tech Alumni Association Inc generated $7.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $7.9m during the year ending 06/2024. While expenses have increased by 2.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
CHAMPION AND SERVE ITS ALUMNI AND THE INSTITUTE THROUGH PROGRAMMING AND ENGAGEMENT THAT FOSTERS LIFELONG RELATIONSHIPS AND PHILANTHROPIC SUPPORT.
Describe the Organization's Program Activity:
ROLL CALL: THE ALUMNI ASSOCIATION SERVES AS A FUNDRAISING ARM OF GEORGIA TECH. THIS DEPARTMENT MANAGES THE ANNUAL FUND AND PERFORMS ALL SOLICITATIONS THAT RAISE FUNDS FROM APPROXIMATELY 24,000 ALUMNI AND FRIENDS. THIS FUNDRAISING PROMOTES EDUCATION AT GEORGIA TECH BY PROVIDING UNRESTRICTED FUNDS FOR STUDENT SCHOLARSHIPS, FINANCIAL AID, RECRUITMENT AND RETENTION OF TOP FACULTY AND SUPPORT OF NEW ACADEMIC PROGRAMS.
ALUMNI ENGAGEMENT: MANAGES ALUMNI CONSTITUENCY GROUPS. THE ASSOCIATION'S 80 GEORGIA TECH NETWORKS PROVIDE OPPORTUNITIES FOR ALUMNI TO SOCIALIZE, RECRUIT STUDENTS, RAISE FUNDS AND NETWORK. ALSO, IT OVERSEES THE LIVING HISTORY INITIATIVE, WHICH RECORDS THE PERSONAL MEMORIES OF THE GEORGIA TECH FAMILY. CAMPUS ENGAGEMENT: RESPONSIBLE FOR ACTIVITIES FACILITATING AND PROMOTING INTERACTION AMONG STUDENTS, ALUMNI, PARENTS AND FRIENDS OF GEORGIA TECH. THIS INCLUDES WORKING WITH APPROXIMATELY 50 ORGANIZATIONS ON CAMPUS AND SPONSORSHIP OF CAMPUS EVENTS. CAREER SERVICES: DEVELOP AND PROVIDE PROFESSIONAL AND CAREER DEVELOPMENT PROGRAMS FOR ALUMNI TO IMPROVE SKILLS, ASSIST IN JOB SEARCHES AND MAKE CAREER CHANGES.STRATEGIC COMMUNICATIONS: INFORMS ALL ALUMNI OF CAMPUS NEWS, ALUMNI EVENTS AND WAYS TO GET INVOLVED ON GTALUMNI.ORG, THE ALUMNI ASSOCIATION'S WEBSITE AND ALL SOCIAL MEDIA. DRIVES AFFINITY AND PARTICIPATION BY GENERATING ONLINE AND IN-PERSON CONVERSATIONS WITH ALUMNI.
EVENTS & TOURS: PLANS AND STAGES ALUMNI ASSOCIATION EVENTS TO BRING ALUMNI TOGETHER IN SOCIAL AND LEARNING ENVIRONMENTS. MANAGES THE ASSOCIATION EVENTS CALENDAR. ALUMNI TOURS OFFER EDUCATIONAL TRIPS FOR ALUMNI TO TRAVEL AND LEARN ABOUT THE WORLD.
COMMUNICATIONS: COMMUNICATIONS PRODUCES ALUMNI PUBLICATIONS THAT INCLUDE THE ALUMNI MAGAZINE WITH A TOTAL ANNUAL CIRCULATION OF 370,500 AND AN ELECTRONIC NEWSLETTER WITH CIRCULATION OF 3,400,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Magd M Riad Past Chair | OfficerTrustee | 1 | $0 |
Rita Breen Vice Chair | OfficerTrustee | 1 | $0 |
Elizabeth A Bulat Chair | OfficerTrustee | 1 | $0 |
Thomas N Herrington Chair Elect | OfficerTrustee | 1 | $0 |
Jason A Byars Member At Large | Trustee | 1 | $0 |
Anu Parvatiyar Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $231,383 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,457,023 |
| Noncash contributions included in lines 1a–1f | $64,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,688,406 |
| Total Program Service Revenue | $335,513 |
| Investment income | $27,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $259,020 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,752 |
| Net Income from Fundraising Events | -$29,044 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,324 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,627,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $52,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $467,212 |
| Compensation of current officers, directors, key employees. | $17,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,236,726 |
| Pension plan accruals and contributions | $267,889 |
| Other employee benefits | $430,425 |
| Payroll taxes | $289,831 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,629 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,726 |
| Fees for services: Other | $157,396 |
| Advertising and promotion | $114,396 |
| Office expenses | $232,128 |
| Information technology | $201,688 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $285,631 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,242 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,089 |
| Insurance | $0 |
| All other expenses | $176,517 |
| Total functional expenses | $7,916,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $768,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,307 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,114 |
| Prepaid expenses and deferred charges | $223,626 |
| Net Land, buildings, and equipment | $340,888 |
| Investments—publicly traded securities | $834,495 |
| Investments—other securities | $929,765 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,500 |
| Total assets | $3,326,418 |
| Accounts payable and accrued expenses | $927,522 |
| Grants payable | $0 |
| Deferred revenue | $111,032 |
| 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 | $40,701 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,183 |
| Total liabilities | $1,134,438 |
| Net assets without donor restrictions | $778,482 |
| Net assets with donor restrictions | $1,413,498 |
| 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 | $3,326,418 |