Atlanta Technical College Foundation Inc
- Assets
- $7.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Atlanta, GA
- Founding
- 05/2001
- Data as of
- 06/2022
- EIN
- 58-2582973
Organization Overview
Atlanta Technical College Foundation Inc is located in Atlanta, GA. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Atlanta Technical College Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlanta Technical 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 06/2022, Atlanta Technical College Foundation Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $217.1k 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
SEE SCHEDULE O FOR A COMPLETE DESCRIPTION.THE ATLANTA TECHNICAL COLLEGE FOUNDATION WAS FOUNDED IN 1999 UNDER THE LEADERSHIP OF CHAIRPERSONS JOSEPH JOHNSON AND CAROLYN YOUNG. A 501(C)(3) NON-PROFIT, THE ATLANTA TECHNICAL COLLEGE FOUNDATION'S MISSION IS TO PROVIDE SUPPORT TO ATLANTA TECHNICAL COLLEGE AND THE PROGRAMS AND ACTIVITIES CARRIED OUT BY THE COLLEGE. ITS PURPOSE IS TO ACQUIRE, RETAIN, INVEST AND ADMINISTER FUNDS EXCLUSIVELY FOR THE BENEFIT OF ATLANTA TECHNICAL COLLEGE. SINCE ITS INCEPTION, THE ATLANTA TECHNICAL COLLEGE FOUNDATION HAS FOCUSED ON THE MAJOR GOALS OF RESOURCE DEVELOPMENT, RELATIONSHIP BUILDING, AND FINANCIAL MANAGEMENT OF RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACTIVITIES OF THE ATLANTA TECHNICAL COLLEGE FOUNDATION PROVIDED HANDS-ON TRAINING OPPORTUNITIES TO A STUDENT SIZE OF OVER 4000. NEEDS-BASED AND ACADEMIC-BASED SCHOLARSHIPS ARE GIVEN EACH QUARTER TO STUDENTS TO SUPPLEMENT EXPENSES RELATED TO THE COST OF THEIR ATTENDANCE AT ATC. THE FOUNDATION PROVIDES ATC STUDENTS WITH IMMEDIATE FUNDING TO MEET UNUSUAL AND UNEXPECTED EXPENSES BEYOND THE ORDINARY EDUCATIONAL EXPENSES MET THROUGH FINANCIAL AID. THESE TYPES OF EXPENSES (E.G. TRANSPORTATION, MEDICAL, AND CHILD CARE) OFTEN SERVE AS BARRIERS TO GRADUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen L Mcdaniel Executive Director | Officer | 40 | $54,760 |
Shannon Georgecink Executive Director | Officer | 40 | $41,667 |
Constance Mack Chair | OfficerTrustee | 8 | $0 |
Robert Perkins Treasurer | OfficerTrustee | 4 | $0 |
Alexis Stewart Secretary | OfficerTrustee | 1 | $0 |
Victoria Seals Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $157,960 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,575,195 |
| Noncash contributions included in lines 1a–1f | $2,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,733,155 |
| Total Program Service Revenue | $0 |
| Investment income | $31,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,000 |
| Net Gain/Loss on Asset Sales | $58,015 |
| Net Income from Fundraising Events | -$37,931 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,802,664 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,094 |
| Grants and other assistance to domestic individuals. | $84,911 |
| 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 | $14,624 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,629 |
| Office expenses | $6,966 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,823 |
| Travel | $5,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,298 |
| Interest | $28,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,461 |
| Insurance | $3,031 |
| All other expenses | $20,494 |
| Total functional expenses | $217,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,954,063 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $148,650 |
| 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 | $7,335 |
| Net Land, buildings, and equipment | $1,487,516 |
| Investments—publicly traded securities | $2,466,682 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,064,246 |
| Accounts payable and accrued expenses | $1,173 |
| 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 | $1,120,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,121,673 |
| Net assets without donor restrictions | $1,346,483 |
| Net assets with donor restrictions | $4,596,090 |
| 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 | $7,064,246 |
Grants Awarded
Over the last fiscal year, Atlanta Technical College Foundation Inc has awarded $628,939 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTA TECHNICAL COLLEGE PURPOSE: OPERATIONAL SUPPORT | $400,000 |
ATLANTA TECHNICAL COLLEGE PURPOSE: SUPPLIES FOR STUDENTS | $21,052 |
ATLANTA TECHNICAL COLLEGE PURPOSE: OPERATIONAL SUPPORT | $207,887 |