Georgia Advanced Technology Ventures Inc
- Assets
- $234.1m
- Revenue
- $34.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 05/2001
- Data as of
- 06/2022
- EIN
- 58-2538285
Organization Overview
Georgia Advanced Technology Ventures Inc is located in Atlanta, GA. The organization was established in 2001. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Georgia Advanced Technology Ventures 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 06/2022, Georgia Advanced Technology Ventures Inc generated $34.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $21.5m during the year ending 06/2022. 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 CORPORATION SUPPORTS THE GEORGIA INSTITUTE OF TECHNOLOGY TO FOSTER AND SUPPORT ECONOMIC DEVELOPMENT AND SCIENTIFIC RESEARCH IN THE STATE OF GEORGIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GEORGIA ADVANCED TECHNOLOGY VENTURES, INC. PROVIDED SUPPORT FOR TECHNOLOGY TRANSFER, COMMERCIALIZATION, ECONOMIC DEVELOPMENT, AND RELEVANT REAL ESTATE DEVELOPMENT FOR THE GEORGIA INSTITUTE OF TECHNOLOGY, INCLUDING THE ADVANCED TECHNOLOGY DEVELOPMENT CENTER (ATDC) INCUBATOR FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Mclaughlin Director | Trustee | 1 | $0 |
Kelly Fox Director | Trustee | 1 | $0 |
Chaouki Abdallah Director | Trustee | 1 | $0 |
James G Fortner Treasurer | Officer | 4 | $0 |
Anthony Zivalich Vice President - Real Estate | Officer | 4 | $0 |
David Bridges Vice President - Innovation | Officer | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dpr Construction Construction | 6/29/22 | $5,283,349 |
Leapley Construction Group Of Atlan Construction | 6/29/22 | $2,332,309 |
Crabapple Roofing Contractor Llc Construction | 6/29/22 | $640,771 |
Johnson Controls Construction | 6/29/22 | $522,638 |
Reams Enterprises Inc Construction | 6/29/22 | $366,623 |
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 | $99,167 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,167 |
| Total Program Service Revenue | $33,745,273 |
| Investment income | $53,126 |
| 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 | $34,809,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,674,862 |
| 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 | $544,114 |
| Fees for services: Accounting | $180,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $185,086 |
| Advertising and promotion | $29,208 |
| Office expenses | $1,018 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,000,056 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,930,305 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,791,056 |
| Insurance | $230,795 |
| All other expenses | $45,092 |
| Total functional expenses | $21,543,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,083,923 |
| Pledges and grants receivable | $524,446 |
| Accounts receivable, net | $20,063 |
| 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 | $8,005 |
| Net Land, buildings, and equipment | $86,513,485 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $98,781,009 |
| Intangible assets | $0 |
| Other assets | $30,198,788 |
| Total assets | $234,129,719 |
| Accounts payable and accrued expenses | $1,352,529 |
| Grants payable | $0 |
| Deferred revenue | $13,145,489 |
| Tax-exempt bond liabilities | $45,395,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $47,672,935 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,066,861 |
| Total liabilities | $154,632,814 |
| Net assets without donor restrictions | $79,337,985 |
| Net assets with donor restrictions | $158,920 |
| 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 | $234,129,719 |
Grants Awarded
Over the last fiscal year, Georgia Advanced Technology Ventures Inc has awarded $2,674,862 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA INSTITUTE OF TECHNOLOGY PURPOSE: support | $2,262,331 |
GEORGIA TECH FOUNDATION PURPOSE: support | $412,531 |