Atlanta Metropolitan College Foundation Inc
- Assets
- $9.9m
- Revenue
- $737.7k
- Investments
- $605.4k
- Employees
- 1
- Location
- Atlanta, GA
- Founding
- 08/1987
- Data as of
- 06/2021
- EIN
- 58-1727943
Organization Overview
Atlanta Metropolitan College Foundation Inc is located in Atlanta, GA. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlanta Metropolitan College 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, Atlanta Metropolitan College Foundation Inc generated $737.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $573.9k during the year ending 06/2021. While expenses have increased by 25.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND ENHANCE ATLANTA METROPOLITAN COLLEGE BY ENCOURAGING CHARITABLE GIFTS LEADING TO ACADEMIC PROGRAMS OF EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMPUS FACILITIES
ACADEMIC AND EDUCATION
OTHER PROGRAM SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Montgomery Executive Director | Officer | 1 | $67,600 |
Skip Vaughan Chairman | OfficerTrustee | 1 | $0 |
Gita Hendessi Gardner Vice Chair | OfficerTrustee | 1 | $0 |
Tita Stewart Secretary | OfficerTrustee | 1 | $0 |
Pamela D Cross Treasurer | OfficerTrustee | 1 | $0 |
Georj Lewis Director Ex Officio, President Amc | OfficerTrustee | 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 | $91,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,315 |
| Total Program Service Revenue | $584,426 |
| Investment income | $8,505 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $53,466 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $737,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,257 |
| 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 | $5,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,349 |
| Advertising and promotion | $1,258 |
| Office expenses | $12,436 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,036 |
| Interest | $429,837 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,211 |
| Insurance | $14,774 |
| All other expenses | $0 |
| Total functional expenses | $573,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,636 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $605,424 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,922,211 |
| Total assets | $9,882,271 |
| Accounts payable and accrued expenses | $12,218 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $8,880,614 |
| 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 | $8,892,832 |
| Net assets without donor restrictions | $638,663 |
| Net assets with donor restrictions | $350,776 |
| 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 | $9,882,271 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Atlanta Metropolitan College Foundation Inc has recieved totaling $13,510.
| Awarding Organization | Amount |
|---|---|
Assistance League Of Atlanta Georgia Peachtree Corners, GA PURPOSE: SCHOLARSHIPSCHOLARSHIP | $13,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Endowment Analysis
| Beg. Balance | $467,184 |
| Earnings | $138,240 |
| Ending Balance | $605,424 |
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 |