Augusta University Foundation Inc
- Assets
- $77.4m
- Revenue
- $9.0m
- Investments
- $37.6m
- Employees
- 0
- Location
- Augusta, GA
- Founding
- 04/1967
- Data as of
- 06/2021
- EIN
- 58-6038134
Organization Overview
Augusta University Foundation Inc is located in Augusta, GA. The organization was established in 1967. 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. Augusta University 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, Augusta University Foundation Inc generated $9.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $8.6m during the year ending 06/2021. While expenses have increased by 10.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHING AND ADMINISTERING ENDOWMENT FUNDS FOR THE BENEFIT OF AUGUSTA UNIVERSITY.
Describe the Organization's Program Activity:
TO PROVIDE DIRECT SUPPORT TO AUGUSTA UNIVERSITY FOR UNIVERSITY PROGRAMS, ACADEMIC SUPPORT, AND SCHOLARSHIP FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Doumar Immediate Past Chair | OfficerTrustee | 1 | $0 |
Alvin Harris Vice Chair | OfficerTrustee | 1 | $0 |
Adam Williams Treasurer | OfficerTrustee | 1 | $0 |
Jean Duncan Secretary | OfficerTrustee | 1 | $0 |
Dennis Sodomka Chair | OfficerTrustee | 1 | $0 |
Stephen R Wertz Chief Financial Officer | Officer | 20 | $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 | $5,934,735 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,934,735 |
| Total Program Service Revenue | $0 |
| Investment income | $1,312,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,745 |
| Net Gain/Loss on Asset Sales | $1,586,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,045,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $988,116 |
| 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 | $3,143,049 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $414,819 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $100,462 |
| Fees for services: Other | $68,462 |
| Advertising and promotion | $71,319 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,299 |
| Travel | $19,526 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $771,486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,011 |
| All other expenses | $128,303 |
| Total functional expenses | $8,582,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,598,994 |
| Pledges and grants receivable | $507,789 |
| Accounts receivable, net | $13,625 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $27,429,148 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,236 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,285,512 |
| Investments—other securities | $37,611,523 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $932,327 |
| Total assets | $77,382,154 |
| Accounts payable and accrued expenses | $581,500 |
| Grants payable | $0 |
| Deferred revenue | $120,948 |
| Tax-exempt bond liabilities | $21,510,997 |
| 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 | $5,889,292 |
| Total liabilities | $28,102,737 |
| Net assets without donor restrictions | $4,656,534 |
| Net assets with donor restrictions | $44,622,883 |
| 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 | $77,382,154 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Augusta University Foundation Inc has recieved totaling $2,052,120.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For The Csra Augusta, GA PURPOSE: CHARITABLE PURPOSE | $1,795,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $125,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $80,400 |
Georgia Power Foundation Inc In Receivership Atlanta, GA PURPOSE: TEACHERS FOR GEORGIA PROGRAM SCHOLARSHIP ENDOWMENT | $50,000 |
George A Sancken Jr Foundation Inc North Augusta, SC PURPOSE: DISCRETIONARY | $1,200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $20 |
Endowment Analysis
| Beg. Balance | $27,578,729 |
| Earnings | $8,254,288 |
| Admin Expense | $1,252,898 |
| Net Contributions | $448,136 |
| Ending Balance | $35,028,255 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
Oxbridge Academy Foundation Inc West Palm Beach, FL | $65,288,192 | $19,905,008 |
University Of West Florida Foundation Inc Pensacola, FL | $164,565,433 | $23,515,652 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
Gator Boosters Inc Gainesville, FL | $35,445,358 | $17,089,938 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
The University Of North Florida Foundation Inc Jacksonville, FL | $189,463,504 | $37,925,600 |
Usf Health Professions Conferencing Corporation Tampa, FL | $17,834,474 | $17,025,476 |
Florida Agricultural & Mechanical Univ Foundation Inc Tallahassee, FL | $165,576,820 | $45,594,915 |