Form 990 for tax year 2024
Filed by GEORGIA STATE UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $91,574,733
- Total expenses
- $64,760,206
- Contributions and grants received
- $49,862,355
- Grants paid
- $39,990,739
- Program service revenue
- $19,508,722
- Investment income
- $22,319,432
- Other revenue
- -$115,776
- Total assets, end of year
- $565,653,579
- Total liabilities, end of year
- $126,548,719
- Net assets or fund balances, end of year
- $439,104,860
- Program services expenses (Part IX)
- $62,473,532
- Management and general expenses
- $1,171,357
- Fundraising expenses
- $1,115,317
- Program service expenses (Part III)
- $62,473,532
Program services were 96.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$8,200
-
1f · All other contributions, gifts and grants
$49,854,155
-
1g · Noncash contributions included above
$2,279,963
-
2a · Program service revenue: RENTAL INCOME
total $12,681,473 · related or exempt $11,996,142 · unrelated business $685,331
-
2b · Program service revenue: DIRECT FINANCING LEASE INCOME
total $6,310,807 · related or exempt $6,310,807
-
2c · Program service revenue: OTHER PROGRAM REVENUE
total $516,442 · related or exempt $516,442
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $9,482,369 · unrelated business $101,140 · excluded $9,381,229
-
5 · Royalties
total $794 · excluded $794
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $81,467,668
-
7b · Less cost or other basis and sales expenses
securities $68,630,605
-
7c · Gain or loss
securities $12,837,063 · other assets $0
-
7d · Net gain or loss
total $12,837,063 · excluded $12,837,063
-
8a · Fundraising events: gross income
$2,050
-
8a · Fundraising events: contributions included on line 1c
$8,200
-
8b · Fundraising events: direct expenses
$2,205
-
8c · Net income from fundraising events
total -$155 · excluded -$155
-
11a · Other revenue: CHANGE IN CSV LIFE INS
total $50,001 · excluded $50,001
-
11b · Other revenue: CHANGE IN ACCOUNTING ESTIMATE
total -$166,416 · excluded -$166,416
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
-$116,415
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $39,990,739 · program services $39,990,739
-
11b · Fees: legal
total $22,146 · management and general $22,146
-
11c · Fees: accounting
total $110,821 · management and general $110,821
-
11e · Fees: professional fundraising services
total $190,834 · fundraising $190,834
-
11f · Fees: investment management
total $650,285 · management and general $650,285
-
11g · Fees: other
total $1,258,548 · program services $1,036,555 · management and general $80,939 · fundraising $141,054
-
12 · Advertising and promotion
total $387,274 · program services $366,776 · fundraising $20,498
-
13 · Office expenses
total $1,262,400 · program services $1,173,152 · management and general $23,610 · fundraising $65,638
-
14 · Information technology
total $709,911 · program services $626,780 · management and general $19,936 · fundraising $63,195
-
16 · Occupancy
total $4,587,977 · program services $4,547,410 · management and general $32,580 · fundraising $7,987
-
17 · Travel
total $1,493,919 · program services $1,388,573 · management and general $48,475 · fundraising $56,871
-
19 · Conferences, conventions and meetings
total $3,086,054 · program services $2,483,581 · management and general $54,000 · fundraising $548,473
-
20 · Interest
total $7,590,188 · program services $7,590,188
-
22 · Depreciation, depletion and amortization
total $670,618 · program services $670,618
-
23 · Insurance
total $1,114,681 · program services $1,016,884 · management and general $97,797
-
24a · Other expenses: Program Supplies & Support
total $834,541 · program services $809,063 · management and general $12,029 · fundraising $13,449
-
24b · Other expenses: Repairs & Maintenance
total $295,380 · program services $295,380
-
24c · Other expenses: Non-Capital Equipment
total $277,615 · program services $277,486 · fundraising $129
-
24d · Other expenses: Dues & Professional Memberships
total $226,275 · program services $200,347 · management and general $18,739 · fundraising $7,189
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $13,583,834 · end of year $9,303,152
-
3 · Pledges and grants receivable
beginning of year $21,761,457 · end of year $27,494,093
-
4 · Accounts receivable
beginning of year $104,655 · end of year $463,493
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $69,622 · end of year $407,388
-
10a · Land, buildings and equipment: cost or other basis
$19,984,132
-
10b · Land, buildings and equipment: accumulated depreciation
$6,937,632
-
10c · Land, buildings and equipment, net
beginning of year $12,212,689 · end of year $13,046,500
-
11 · Investments: publicly traded securities
beginning of year $308,910,057 · end of year $197,497,677
-
12 · Investments: other securities
beginning of year $41,195,546 · end of year $190,325,223
-
13 · Investments: program-related
beginning of year $84,684,367 · end of year $80,303,396
-
15 · Other assets
beginning of year $51,655,676 · end of year $46,812,657
-
17 · Accounts payable and accrued expenses
beginning of year $3,140,338 · end of year $4,868,271
-
19 · Deferred revenue
beginning of year $6,196,515 · end of year $38,278
-
20 · Tax-exempt bond liabilities
beginning of year $87,016,307 · end of year $81,270,019
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $42,808,755 · end of year $40,372,151
-
27 · Net assets without donor restrictions
beginning of year $42,827,498 · end of year $47,368,948
-
28 · Net assets with donor restrictions
beginning of year $352,188,490 · end of year $391,735,912
Mission and programs · 2024
Mission
The Georgia State University Foundation serves as an ambassador of Georgia State University, supporting and assisting the university in achieving its mission through the identification, cultivation, solicitation, and stewardship of gifts and by collaborating and advising on activities for the benefit and advancement of the university.
Activities or mission (Part I)
Support the mission and best interests of Georgia State University.
-
PROGRAM SUPPORT: THE GSU FOUNDATION PROVIDED THE UNIVERSITY SUPPORT FOR EDUCATION, FACILITIES, ACTIVITIES, AND PROGRAMS OF THE UNIVERSITY. PRIVATE GIFT SUPPORT HELPS PROVIDE SPACE, ENVIRONMENT AND TECHNOLOGIES THAT PROMOTE THE HIGHEST LEVEL OF TEACHING, LEARNING, AND RESEARCH.
Expenses $42,215,520 · Grants $19,732,727 · Revenue $18,823,391
-
STUDENT SUPPORT: THE GSU FOUNDATION PROVIDED THE UNIVERSITY SUPPORT FOR STUDENTS. STUDENTS RECEIVED BOTH MERIT AND NEED BASED SCHOLARSHIP SUPPORT ACROSS ALL PROGRAMS AND UNITS OF THE UNIVERSITY. PRIVATE GIFT SUPPORT IS CRITICAL TO REACHING OUR GOAL OF HAVING ALL WILLING STUDENTS ABLE TO EXPLORE THEIR EDUCATIONAL OPPORTUNITIES, EXPERIENCE COLLEGE LIFE, AND EFFICIENTLY MANAGE TUITION COSTS AND DEBT LOADS.
Expenses $10,909,620 · Grants $10,909,620
-
FACULTY AND STAFF SUPPORT: UNIVERSITY FACULTY AND STAFF RECEIVED ADDITIONAL SUPPORT ALLOWING FOR INCREASED RESEARCH OPPORTUNITIES AND IMPROVED CLASSROOM EXPERIENCES FOR ALL STUDENTS. PRIVATE GIFT SUPPORT HELPS MEET THE UNIVERSITY'S GOAL TO ATTRACT AND RETAIN WORLD CLASS FACULTY TO TEACH OUR STUDENTS AND EXPAND OUR RESEARCH.
Expenses $9,348,392 · Grants $9,348,392
As filed on the 2024 return.
Listed in Part VII
-
Cheryl HarrelsonCHERYL HARRELSON
PRESIDENT & VP OF UNIVERSITY ADVANCEMENT
- Total calculated
- $304,659
- From this org
- $275,616
- From related orgs
- $0
- Other
- $29,043
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $275,616
- Bonus
- $0
- Other
- $0
- Deferred
- $21,090
- Nontaxable benefits
- $7,953
- Filer's total
- $304,659
-
Kevin E LoftonKEVIN E LOFTON
GSUF Board Chair/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Mary StokesMARY STOKES
Vice Chair/Chair, Investment/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Regynald G WashingtonREGYNALD G WASHINGTON
Secretary/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Ursula Godoy-ArbelaezURSULA GODOY-ARBELAEZ
Treasurer & Chair, Finance Committee/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Aileen B ValianosAILEEN B VALIANOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Alfred Al McRaeALFRED AL MCRAE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Alison B JonesALISON B JONES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Allison PowellALLISON POWELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Christopher ChanCHRISTOPHER CHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dan KrauseDAN KRAUSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
Dr GrimesDR GRIMES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
Erika MeinhardtERIKA MEINHARDT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Esmael HillESMAEL HILL
Chair, Real Estate Committee/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Fabiola Charles-Stokes
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Felicia M MayfieldFELICIA M MAYFIELD
Chair, Development/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Frank H BoykinFRANK H BOYKIN
Immediate Past Board Chair/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Janine BowenJANINE BOWEN
Chair, Nov & Gov/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly ReedKIMBERLY REED
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly S HixonKIMBERLY S HIXON
Chair, Audit Committee/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
L Jared AbramsonL JARED ABRAMSON
EX-OFFICIO & GSU EVP & COO
- Total calculated
- $0
- Hours/week
- 1
-
M Brian BlakeM BRIAN BLAKE
EX-OFFICIO TRUSTEE & GSU PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Mark C AdamsMARK C ADAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Nancy R MansfieldNANCY R MANSFIELD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
Neda A BarqawiNEDA A BARQAWI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Nikita J TrivediNIKITA J TRIVEDI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Patrick KoPATRICK KO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Paula StephensPAULA STEPHENS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
Randall KentRANDALL KENT
Ex-Officio (Alumni Association Board Chair)/Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Sabrina SandersSABRINA SANDERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Susan EckertSUSAN ECKERT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Terrance RogersTERRANCE ROGERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Tracy L DanielsTRACY L DANIELS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dale PalmerDALE PALMER
GSUF ASSISTANT TREASURER/CFO
- Total calculated
- $256,799
- From this org
- $216,330
- From related orgs
- $0
- Other
- $40,469
- Hours/week
- 35 + 5 related
Schedule J breakdown matched by us
- Base
- $216,330
- Bonus
- $0
- Other
- $0
- Deferred
- $20,673
- Nontaxable benefits
- $19,796
- Filer's total
- $256,799
-
Felicia ThomasFELICIA THOMAS
GSUF ASST. SECRETARY
- Total calculated
- $95,400
- From this org
- $61,594
- From related orgs
- $0
- Other
- $33,806
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $61,594
- Bonus
- $0
- Other
- $0
- Deferred
- $14,110
- Nontaxable benefits
- $19,696
- Filer's total
- $95,400
-
Tabatha MichelTABATHA MICHEL
GSUF INTERIM PRESIDENT/ AVP
- Total calculated
- $282,863
- From this org
- $251,384
- From related orgs
- $0
- Other
- $31,479
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $251,384
- Bonus
- $0
- Other
- $0
- Deferred
- $21,328
- Nontaxable benefits
- $10,151
- Filer's total
- $282,863
-
Telly Mcgaha
GSUF Interim President/AVP
- Total calculated
- $68,431
- From this org
- $61,886
- From related orgs
- $0
- Other
- $6,545
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $61,886
- Bonus
- $0
- Other
- $0
- Deferred
- $3,246
- Nontaxable benefits
- $3,299
- Filer's total
- $68,431
-
Chris BurgeCHRIS BURGE
AVP ADVANCEMENT INFOSYS/TECH
- Total calculated
- $260,869
- From this org
- $191,471
- From related orgs
- $0
- Other
- $69,398
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,471
- Bonus
- $0
- Other
- $0
- Deferred
- $41,201
- Nontaxable benefits
- $28,197
- Filer's total
- $260,869
-
Holly Sailers
Comptroller
- Total calculated
- $188,157
- From this org
- $147,746
- From related orgs
- $0
- Other
- $40,411
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,746
- Bonus
- $0
- Other
- $0
- Deferred
- $30,882
- Nontaxable benefits
- $9,529
- Filer's total
- $188,157
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - CHERYL HARRELSON, COMPENSATION FROM UNRELATED ORGANIZATION - 304659.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - TABATHA MICHEL, COMPENSATION FROM UNRELATED ORGANIZATION - 282863.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - DALE PALMER, COMPENSATION FROM UNRELATED ORGANIZATION - 256799.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - FELICIA THOMAS, COMPENSATION FROM UNRELATED ORGANIZATION - 95400.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - TELLY MCGAHA, COMPENSATION FROM UNRELATED ORGANIZATION - 68431.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - CHRIS BURGE, COMPENSATION FROM UNRELATED ORGANIZATION - 260869.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
- Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
- NAME - HOLLY SAILERS, COMPENSATION FROM UNRELATED ORGANIZATION - 188157.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA STATE UNIVERSITY, TYPE OF COMPENSATION - SALARY AND BENEFITS
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
Georgia State University
$10,909,620
Scholarships & Awards
-
Georgia State University
$9,348,392
Faculty & Staff Salary Supplements
-
Fort Valley State University
$33,000
NISS Participation Award Winner
-
Events Sponsorship
-
Events Sponsorship
-
Georgia State University
no cash amount reported
University Facility Improvements
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
STUDENT HOUSING FACILITY FOR THE UNIVERSITY STUDENTS · GA · income $101,899 · assets $1,187,755
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO ACQUIRE, DEVELOP, OPERATE, AND MANAGE REAL PROPERTY FOR STUDENT HOUSING · GA · income $464,466 · assets $6,840,747
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO PURCHASE AND RENOVATE THE RIALTO THEATER FOR BENEFIT AND USE BY THE UNIVERSITY · GA · income $8,756 · assets $1,556,138
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO PURCHASE THE SUNTRUST BUILD. TO PROVIDE OFFICE & CLASSROOM TO THE UNIV. · GA · income $1,913,121 · assets $58,270,482
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO ACQUIRE, DEVELOP, OPERATE, AND MANAGE REAL PROPERTY USED BY THE UNIVERSITY · GA · income $0 · assets $0
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO PURCHASE REAL ESTATE FOR USE OF THE UNIVERSITY · GA · income $0 · assets $0
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
GPC REAL ESTATE STUDENT SUPPORT I LLC
TO ACQUIRE, DEVELOP, OPERATE, AND MANAGE REAL PROPERTY FOR THE UNIVERSITY · GA · income $1,134,353 · assets $42,047,764
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
TO ACQUIRE, DEVELOP, OPERATE, AND MANAGE REAL PROPERTY FOR THE UNIVERSITY · GA · income $1,849 · assets $1,806,796
Directly controlled by GEORGIA STATE UNIVERSITY FOUNDATION
-
Provide practice football field and facility to the University · GA · income $0 · assets $0
Directly controlled by Georgia State University Foundation
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Charitable Remainder Unitrust (1)
Trust · Trust · GA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 1 April 2026
- IRS schema version
- 2024v5.1
- Source object
- 202630919349300708
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