Athens Tech Foundation Inc
- Assets
- $2.3m
- Revenue
- $337.5k
- Investments
- $1.9m
- Employees
- 0
- Location
- Athens, GA
- Founding
- 01/1989
- Data as of
- 12/2021
- EIN
- 58-1824771
Organization Overview
Athens Tech Foundation Inc is located in Athens, GA. The organization was established in 1989. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Athens Tech 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 12/2021, Athens Tech Foundation Inc generated $337.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $229.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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 PARTNER WITH ATHENS TECHNICAL COLLEGE AND WITH THE COMMUNITY TO BUILD THE WORKFORCE OF TODAY AND FOR THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ATHENS TECH FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS EACH TERM BASED ON THEIR FINANCIAL NEED AND SCHOLASTIC ABILITY AS WELL AS GED VOUCHERS. THE FOUNDATION WAS ABLE TO ASSIST 174 STUDENTS WITH PAYING OFF THEIR PAST DUE BALANCES OR STUDENTS RECEIVED EMERGENCY ASSISTANCE IN 2021. THIS ALLOWED THEM TO CONTINUE THEIR STUDIES WITHOUT ANY DELAYS. THE FOUNDATION ALSO PAYS FOR PROFESSIONAL DEVELOPMENT FOR ATHENS TECHNICAL COLLEGE. DURING THE YEAR ENDED DECEMBER 31, 2021, 48 STUDENTS RECEIVED SCHOLARSHIP AWARDS OUT OF 325 INDIVIDUAL APPLICATIONS. 141 GED TESTS WERE PURCHASED FOR STUDENTS WHO WERE UNABLE TO AFFORD THE COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Wingfield Jr Board Chair | OfficerTrustee | 1 | $0 |
Beth Thomas Vice-Chair | OfficerTrustee | 1 | $0 |
Katherine Alexander Treasurer | OfficerTrustee | 1 | $0 |
Beth Eavenson Secretary | OfficerTrustee | 1 | $0 |
Michelle Ruebush Director | Trustee | 1 | $0 |
Christy Terrell Director | 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 | $197,650 |
| Noncash contributions included in lines 1a–1f | $2,646 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $197,650 |
| Total Program Service Revenue | $0 |
| Investment income | $105,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $337,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $121,781 |
| 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 | $29,001 |
| 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 | $20,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,702 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,837 |
| Office expenses | $1,598 |
| Information technology | $8,098 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,647 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,860 |
| All other expenses | $0 |
| Total functional expenses | $229,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,945 |
| 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 | $309,947 |
| Investments—other securities | $1,872,276 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,082 |
| Total assets | $2,313,250 |
| Accounts payable and accrued expenses | $53 |
| 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 | $58,082 |
| Total liabilities | $58,135 |
| Net assets without donor restrictions | $190,742 |
| Net assets with donor restrictions | $2,064,373 |
| 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 | $2,313,250 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Athens Tech Foundation Inc has recieved totaling $36,777.
| Awarding Organization | Amount |
|---|---|
North Georgia Community Foundation Gainesville, GA PURPOSE: EDUCATION | $23,288 |
Georgia Power Foundation Inc In Receivership Atlanta, GA PURPOSE: GEORGIA POWER EMERGENCY FUND | $10,000 |
Peach State Fcu Cares Foundation Inc Lawrenceville, GA PURPOSE: ORGANIZATIONAL SUPPORT | $2,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,350 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $139 |
Endowment Analysis
| Beg. Balance | $594,121 |
| Earnings | $79,790 |
| Admin Expense | $6,666 |
| Grants | $12,538 |
| Ending Balance | $654,707 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |