Georgia Tech Applied Research Corporation
- Assets
- $314.7m
- Revenue
- $705.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 04/1999
- Data as of
- 06/2022
- EIN
- 58-2374837
Organization Overview
Georgia Tech Applied Research Corporation is located in Atlanta, GA. The organization was established in 1999. 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 Applied 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 Applied Research Corporation generated $705.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $684.5m during the year ending 06/2022. While expenses have increased by 9.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE GEORGIA TECH APPLIED RESEARCH CORPORATION (GTARC) IS TO PROVIDE EFFICIENT AND EFFECTIVE CONTRACTING, GRANT, AND RESEARCH ADMINISTRATION SERVICES FOR THE GEORGIA TECH RESEARCH INSTITUTE (GTRI), A NON-PROFIT RESEARCH ARM OF THE GEORGIA INSTITUTE OF TECHNOLOGY. GTARC PROVIDES BUSINESS MANAGEMENT SERVICES FOR GTRI AS IT CONDUCTS FOCUSED PROGRAMS OF INNOVATIVE RESEARCH, TECHNICAL ASSISTANCE, AND ECONOMIC DEVELOPMENT THAT ADVANCE THE GLOBAL COMPETITIVENESS OF GEORGIA, THE SOUTHEAST REGION, AND THE NATION. GTARC SERVES AS THE SOLE CONTRACTING ENTITY FOR GTRI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GEORGIA INSTITUTE OF TECHNOLOGY RESEARCH ACTIVITY IS SUPPORTED BY THE GEORGIA TECH APPLIED RESEARCH CORPORATION WHICH CONSISTS OF RESEARCH PROGRAMS FOR GOVERNMENT AGENCIES. PAYMENTS AND REIMBURSEMENT OF EXPENSES AND GRANTS TO AND FOR THE BENEFIT OF GEORGIA INSTITUTE OF TECHNOLOGY HAVE BEEN MADE. THE GEORGIA TECH APPLIED 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, Treasurer, Trustee | 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 | 6/29/21 | $582,729,901 |
Nelson Mullins Riley & Scarborough Legal Services | 6/29/21 | $118,590 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $699,621,958 |
| Investment income | $129,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,174,105 |
| 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 | $705,926,938 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,476,597 |
| 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 | $21,224 |
| Fees for services: Accounting | $199,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $672,695,079 |
| Advertising and promotion | $0 |
| Office expenses | $246,265 |
| Information technology | $225,612 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,610 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,144 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,302,188 |
| Insurance | $556,781 |
| All other expenses | $124,926 |
| Total functional expenses | $684,464,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $78,420,307 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,673,806 |
| 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 | $1,074,749 |
| Net Land, buildings, and equipment | $54,249 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,501,660 |
| Total assets | $314,724,771 |
| Accounts payable and accrued expenses | $82,888,168 |
| Grants payable | $0 |
| Deferred revenue | $7,546,968 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $67,117,376 |
| 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 | $86,118,807 |
| Total liabilities | $243,671,319 |
| Net assets without donor restrictions | $71,053,452 |
| Net assets with donor restrictions | $0 |
| 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 | $314,724,771 |
Grants Awarded
Over the last fiscal year, Georgia Tech Applied Research Corporation has awarded $2,476,597 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA INSTITUTE OF TECHNOLOGY PURPOSE: STRATEGIC RESEARCH SUPPORT | $1,156,030 |
GEORGIA INSTITUTE OF TECHNOLOGY PURPOSE: RESEARCH PROGRAM SUPPORT | $1,320,567 |