University System Of Georgia Foundation Inc
- Assets
- $561.6m
- Revenue
- $33.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Atlanta, GA
- Founding
- 04/1997
- Data as of
- 06/2023
- EIN
- 58-6333106
Organization Overview
University System Of Georgia Foundation Inc is located in Atlanta, GA. The organization was established in 1997. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2023, University System Of Georgia Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University System Of Georgia 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 06/2023, University System Of Georgia Foundation Inc generated $33.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $20.2m during the year ending 06/2023. While expenses have increased by 3.5% 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.
Since 2015, University System Of Georgia Foundation Inc has awarded 259 individual grants totaling $15,343,278. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR COMPLETE MISSION DESCRIPTION.THE UNIVERSITY SYSTEM OF GEORGIA FOUNDATION'S PRIMARY GOAL IS TO SUPPORT THE STATE OF GEORGIA UNIVERSITY SYSTEM AND ITS 26 COLLEGES AND UNIVERSITIES TO ENSURE ACCESS TO ACADEMIC EXCELLENCE AND EDUCATIONAL OPPORTUNITIES FOR ALL GEORGIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE SUPPORT: THE USG FOUNDATION, IN PARTNERSHIP WITH THE UNIVERSITY SYSTEM OF GEORGIA BOARD OF REGENTS, FACILITATES FINANCING OF CAPITAL IMPROVEMENT PROJECTS AND NEW FACILITIES AT USG INSTITUTIONS. WE PROVIDE BELOW-MARKET LEASE TERMS TO FINANCE CONSTRUCTION, RENOVATION, OR EXPANSION OF FACILITIES. USG FOUNDATION ALSO PROVIDES REFINANCING OF EXISTING DEBT THROUGH TAX-EXEMPT BOND FINANCING. THESE PARTNERSHIPS RESULT IN REDUCED STUDENT FEES, INCREASED BUILDING EFFICIENCIES, AND ENHANCED RISK MANAGEMENT FOR INSTITUTIONS ACROSS OUR PORTFOLIO.
SCHOLARSHIPS AND AWARDS: USG FOUNDATION PROVIDES SCHOLARSHIP FUNDS TO ALL USG INSTITUTIONS SO THAT THEY CAN OFFER NEEDS-BASED SCHOLARSHIPS TO QUALIFIED STUDENTS. ADDITIONALLY, THE USG FOUNDATION ANNUALLY PROVIDES MONETARY AWARDS TO OUTSTANDING FACULTY SELECTED BY THE USG DEPARTMENT OF ACADEMIC AFFAIRS.
THE USG FOUNDATION IS COMMITTED TO STRENGTHENING PUBLIC INSTITUTIONS OF HIGHER LEARNING ACROSS GEORGIA. THROUGH CAPACITY BUILDING GRANTS AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES, THE FOUNDATION BOLSTERS THE EFFORTS OF INSTITUTIONS AND PROGRAMS TO IMPROVE THEIR EFFICIENCY, INCREASE THEIR IMPACT, AND PLAN FOR THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Paloski Asst Vice Chan For Development | Officer | 40 | $115,974 |
Kirby A Thompson Vice Chancellor For Develo | Officer | 40 | $101,009 |
Teddy Russell Chair | OfficerTrustee | 2 | $0 |
Cade Joiner Vice Chair | OfficerTrustee | 1 | $0 |
Ty Smith Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth A Terrell Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $448,254 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,642,193 |
| Noncash contributions included in lines 1a–1f | $1,153 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,090,447 |
| Total Program Service Revenue | $28,726,496 |
| Investment income | $1,603,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,368 |
| Net Income from Fundraising Events | -$35,554 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,374,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,043,488 |
| Grants and other assistance to domestic individuals. | $60,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $306,132 |
| Compensation of current officers, directors, key employees. | $53,182 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $166,231 |
| Pension plan accruals and contributions | $33,875 |
| Other employee benefits | $6,272 |
| Payroll taxes | $31,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,194 |
| Fees for services: Accounting | $113,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,609 |
| Fees for services: Other | $491,999 |
| Advertising and promotion | $12,000 |
| Office expenses | $47,235 |
| Information technology | $30,271 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $69,905 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,834 |
| Interest | $14,598,255 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,573 |
| All other expenses | $2,400 |
| Total functional expenses | $20,233,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,451,181 |
| Savings and temporary cash investments | $138,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,842,830 |
| 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 | $11,184 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,897,308 |
| Investments—other securities | $0 |
| Investments—program-related | $491,659,837 |
| Intangible assets | $0 |
| Other assets | $58,631,531 |
| Total assets | $561,632,614 |
| Accounts payable and accrued expenses | $4,286,490 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $436,706,631 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $65,603,428 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,585,000 |
| Total liabilities | $517,181,549 |
| Net assets without donor restrictions | $39,524,980 |
| Net assets with donor restrictions | $4,926,085 |
| 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 | $561,632,614 |
Grants Awarded
Over the last fiscal year, University System Of Georgia Foundation Inc has awarded $3,996,518 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
ABRAHAM BALDWIN AGRICULTURAL COLLEGE FOUNDATION PURPOSE: SCHOLARSHIPS | $91,022 |
ALBANY STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $11,500 |
ALBANY STATE UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIPS | $35,000 |
ATLANTA METROPOLITAN STATE COLLEGE FOUNDATION INC PURPOSE: SCHOLARSHIPS | $10,000 |
AUGUSTA STATE UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIPS | $78,841 |
COLLEGE OF COASTAL GEORGIA FOUNDATION PURPOSE: CAPACITY BUILDING GRANT AND SCHOLARSHIPS | $129,330 |