Georgia State University Risk Management Foundation Inc
- Assets
- $7.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Atlanta, GA
- Founding
- 04/1963
- Data as of
- 06/2021
- EIN
- 58-0900669
Organization Overview
Georgia State University Risk Management Foundation Inc is located in Atlanta, GA. The organization was established in 1963. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Georgia State University Risk Management Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia State University Risk Management 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 State University Risk Management Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $619.2k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE GEORGIA STATE UNIVERSITY AND THE BUSINESS SERVICES COMMUNITY WITH A VEHICLE FOR RAISING FUNDS TO SUPPORT THE RISK MANAGEMENT & INSURANCE DEPARTMENT PROGRAMS, TO ASSIST IN RECRUITMENT AND RETENTION OF TOP FACULTY, TO PROVIDE FINANCIAL AWARDS TO DESERVING STUDENTS, AND TO PROMOTE AND SUPPORT FACULTY RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM AND FACULTY SUPPORT INCLUDES PAY SUPPLEMENTS FOR RMI DEPARTMENT FACULTY WHO PERFORM ADMINISTRATIVE DUTIES OR ADDITIONAL RESEARCH. IT ALSO INCLUDES FACULTY RESEARCH SUPPORT RELATED TO CONFERENCE ATTENDANCE, PRESENTING PAPERS, AND OTHER ACADEMIC MEETINGS THAT ALL SERVE TO ADVANCE THE RMI DEPARTMENT IN REPUTATION AND SCHOLARSHIP. IT ALSO SERVES TO RECRUIT PREMIER FACULTY IN THE AREAS OF RISK MANAGEMENT AND INSURANCE, AND ACTUARIAL SCIENCE.
AWARDS, GRANTS, AND SCHOLARSHIPS: GEORGIA STATE UNIVERSITY RISK MANAGEMENT FOUNDATION AWARDS THE RISK MANAGEMENT AND INSURANCE DEPARTMENT MERIT-BASED SCHOLARSHIPS EACH YEAR FOR OUTSTANDING UNDERGRADUATE AND GRADUATE STUDENTS ENROLLED IN OUR PROGRAMS. THE SCHOLARSHIPS REPRESENT CONTINUING SUPPORT BY EMPLOYERS, ALUMNI, AND PROFESSIONAL ORGANIZATIONS. THE SCHOLARSHIPS ENCOURAGE FUTURE STUDENTS TO ENROLL IN PROGRAMS OFFERED BY THE RMI DEPARTMENT AND REWARD EXCEPTIONAL CURRENT STUDENTS FOR THEIR ACHIEVEMENTS IN THE CLASSROOM AND THE UNIVERSITY COMMUNITY. THE AWARDS RANGE FROM $500 TO FULL TUITION. FINANCIAL NEED IS NOT A PRIMARY FACTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Thielman Executive Director | Officer | 6 | $159,298 |
Keith Cox Chairman | OfficerTrustee | 1 | $0 |
Allen Bogenschutz Treasurer | OfficerTrustee | 1 | $0 |
Emanuel Lauria Past Chairman | OfficerTrustee | 1 | $0 |
Nicole Bennett Board Member | Trustee | 1 | $0 |
Sanjay Godhwani Board Member | Trustee | 1 | $0 |
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 | $1,348,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,348,871 |
| Total Program Service Revenue | $0 |
| Investment income | $100,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,449,955 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,334 |
| Grants and other assistance to domestic individuals. | $208,522 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $159,299 |
| Compensation of current officers, directors, key employees. | $19,116 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,383 |
| Pension plan accruals and contributions | $80,173 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,822 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,060 |
| Office expenses | $24,917 |
| Information technology | $8,734 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $802 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,131 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,339 |
| All other expenses | $0 |
| Total functional expenses | $619,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,575 |
| Savings and temporary cash investments | $1,012,961 |
| Pledges and grants receivable | $481,006 |
| 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 | $2,276 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,834,660 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,432,478 |
| Accounts payable and accrued expenses | $49,290 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $49,290 |
| Net assets without donor restrictions | $1,403,090 |
| Net assets with donor restrictions | $5,980,098 |
| 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 | $7,432,478 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Georgia State University Risk Management Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Charles Timmons Foundation Wilmington, DE PURPOSE: TIMMONS FAMILY SCHOLARSHIP FUND | $5,000 |
Endowment Analysis
| Beg. Balance | $2,054,118 |
| Earnings | $803,933 |
| Net Contributions | $174,880 |
| Other Expense | $67,866 |
| Ending Balance | $2,965,065 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |