Form 990 for tax year 2023
Filed by MEDICAL COLLEGE OF GEORGIA FOUNDATION INC.
Totals
- Total revenue
- $17,618,239
- Total expenses
- $13,845,038
- Contributions and grants received
- $14,629,478
- Grants paid
- $10,517,376
- Program service revenue
- $0
- Investment income
- $3,395,518
- Other revenue
- -$406,757
- Total assets, end of year
- $382,049,040
- Total liabilities, end of year
- $15,742,807
- Net assets or fund balances, end of year
- $366,306,233
- Program services expenses (Part IX)
- $11,179,770
- Management and general expenses
- $1,945,095
- Fundraising expenses
- $720,173
- Program service expenses (Part III)
- $11,179,770
Program services were 80.7% 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
$17,323
-
1e · Government grants (contributions)
$9,235,036
-
1f · All other contributions, gifts and grants
$5,377,119
-
1g · Noncash contributions included above
$417,952
-
3 · Investment income
total $1,694,279 · unrelated business $525,913 · excluded $1,168,366
-
6a · Gross rents
real property $38,099 · personal property $81,730
-
6b · Less rental expenses
real property $169,584 · personal property $48,412
-
6c · Rental income or loss
real property -$131,485 · personal property $33,318
-
6d · Net rental income or loss
total -$98,167 · unrelated business $33,318 · excluded -$131,485
-
7a · Gross sales of assets other than inventory
securities $402,952 · other assets $11,588,985
-
7b · Less cost or other basis and sales expenses
securities $402,952 · other assets $9,887,746
-
7c · Gain or loss
securities $0 · other assets $1,701,239
-
7d · Net gain or loss
total $1,701,239 · excluded $1,701,239
-
8a · Fundraising events: gross income
$2,456
-
8a · Fundraising events: contributions included on line 1c
$17,323
-
8b · Fundraising events: direct expenses
$311,857
-
8c · Net income from fundraising events
total -$309,401 · excluded -$309,401
-
11a · Other revenue: REFUNDS, MISC, ETC
total $811 · excluded $811
-
11e · Other revenue, total
$811
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,517,376 · program services $10,517,376
-
5 · Compensation of officers, directors and key employees
total $1,130,335 · management and general $817,835 · fundraising $312,500
-
7 · Other salaries and wages
total $386,571 · management and general $211,809 · fundraising $174,762
-
8 · Pension plan contributions
total $47,152 · management and general $39,649 · fundraising $7,503
-
9 · Other employee benefits
total $64,014 · management and general $33,888 · fundraising $30,126
-
10 · Payroll taxes
total $91,993 · management and general $62,912 · fundraising $29,081
-
11b · Fees: legal
total $5,736 · management and general $5,736
-
11c · Fees: accounting
total $52,613 · management and general $52,613
-
11g · Fees: other
total $3,633 · management and general $875 · fundraising $2,758
-
12 · Advertising and promotion
total $64,170 · management and general $27,506 · fundraising $36,664
-
13 · Office expenses
total $129,824 · management and general $87,734 · fundraising $42,090
-
14 · Information technology
total $217,865 · management and general $175,613 · fundraising $42,252
-
16 · Occupancy
total $75,718 · management and general $44,495 · fundraising $31,223
-
17 · Travel
total $37,682 · management and general $32,752 · fundraising $4,930
-
19 · Conferences, conventions and meetings
total $106,893 · management and general $101,537 · fundraising $5,356
-
20 · Interest
total $565,459 · program services $565,459
-
22 · Depreciation, depletion and amortization
total $159,179 · management and general $159,179
-
23 · Insurance
total $49,167 · management and general $48,239 · fundraising $928
-
24a · Other expenses: LIFE INCOME TO BENEFICI
total $63,360 · program services $63,360
-
24b · Other expenses: MEMBERSHIP DUES AND SUB
total $42,723 · management and general $42,723
-
24c · Other expenses: GIFT ANNUITY AGREEMENTS
total $33,575 · program services $33,575
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,379,430 · end of year $6,410,482
-
2 · Savings and temporary cash investments
beginning of year $116,404 · end of year $550,656
-
3 · Pledges and grants receivable
beginning of year $1,459,234 · end of year $889,291
-
4 · Accounts receivable
end of year $10,000
-
7 · Other notes and loans receivable
beginning of year $5,199,924 · end of year $4,197,041
-
10a · Land, buildings and equipment: cost or other basis
$16,289,614
-
10b · Land, buildings and equipment: accumulated depreciation
$838,684
-
10c · Land, buildings and equipment, net
beginning of year $15,535,686 · end of year $15,450,930
-
11 · Investments: publicly traded securities
beginning of year $2,923,968 · end of year $3,087,909
-
12 · Investments: other securities
beginning of year $316,487,522 · end of year $350,831,959
-
13 · Investments: program-related
beginning of year $666,117 · end of year $564,964
-
14 · Intangible assets
beginning of year $24,930 · end of year $0
-
15 · Other assets
beginning of year $184,055 · end of year $55,808
-
17 · Accounts payable and accrued expenses
beginning of year $724,625 · end of year $796,402
-
23 · Secured mortgages and notes payable
beginning of year $15,753,617 · end of year $13,972,123
-
25 · Other liabilities
beginning of year $906,201 · end of year $974,282
-
27 · Net assets without donor restrictions
beginning of year $51,569,237 · end of year $51,768,358
-
28 · Net assets with donor restrictions
beginning of year $280,023,590 · end of year $314,537,875
Mission and programs · 2023
Mission
THE MISSON OF THE MEDICAL COLLEGE OF GEORGIA FOUNDATION IS TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE OF GEORGIA, THE NATION, AND THE WORLD BY SUPPORTING THE ADVANCEMENT OF EDUCATION, RESEARCH, AND PATIENT CARE AT AUGUSTA UNIVERSITY.
Activities or mission (Part I)
THE MEDICAL COLLEGE OF GEORGIA FOUNDATION'S MOST SIGNIFICANT ACTIVITIES INVOLVE RECEIPTING, INVESTING AND DISTRIBUTING FUNDS FOR THE BENEFIT OF MEDICAL COLLEGE OF GEORGIA AND THE HEALTH SCIENCES AT AUGUSTA UNIVERSITY AND ITS RELATED TEACHING HOSPITAL. THE FOUNDATION WORKS WITH DONORS SEEKING TO MAKE CHARITABLE CONTRIBUTIONS FOR THE BENEFIT OF THE MEDICAL SCIENCES AT AUGUSTA UNIVERSITY. IT ALSO DISTRIBUTES MONIES TO THE MEDICAL SCIENCES AT AUGUSTA UNIVERSITY WHILE PROVIDING OVERSIGHT AND STEWARDSHIP OF THE CHARITABLE FUNDS ENTRUSTED TO IT.
-
THE FOUNDATION SERVES THE NEEDS AND INTERESTS OF THE MEDICAL COLLEGE OF GEORGIA, THE AUGUSTA UNIVERSITY HEALTH SCIENCES CAMPUS AND THE AUGUSTA UNIVERSITY HEALTH SYSTEM. THE FOUNDATION RECEIVES AND ADMINISTERS FUNDS FOR THE SUPPORT AND ENHANCEMENT OF THE MEDICAL COLLEGE OF GEORGIA, THE AUGUSTA UNIVERSITY HEALTH SCIENCES CAMPUS AND THE AUGUSTA UNIVERSITY HEALTH SYSTEM, AND MANAGES INVESTMENTS AND DISTRIBUTED FUNDS IN ACCORDANCE WITH DONOR INSTRUCTIONS AND BOARD OF DIRECTOR'S INTENTIONS FOR GIFTS. THE FOUNDATION PROVIDES SUPPORT FOR FACULTY CHAIRS, RESEARCH IN THE HEALTH SCIENCES FIELDS, SCHOLARSHIPS TO QUALIFIED STUDENTS AND OTHER INSTITUTIONAL PROGRAMS.
Expenses $11,179,770 · Grants $10,517,376
As filed on the 2023 return.
Listed in Part VII
-
Charles G Green Jr MDCHARLES G GREEN JR MD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
Carole M Hanes DMDCAROLE M HANES DMD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Juli MeansJULI MEANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
A Lynne Brannen II MD FccpA LYNNE BRANNEN II MD FCCP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Paul G Turk MDPAUL G TURK MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Vendie Hhooks MDVENDIE HHOOKS MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Terri G Lockhart MD FacpTERRI G LOCKHART MD FACP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
James Davis MD FacraJAMES DAVIS MD FACRA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Murray A FreedmanMURRAY A FREEDMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Ellen Goodrich Bsn MnELLEN GOODRICH BSN MN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Joshua A LaneJOSHUA A LANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Tat ThompsonTAT THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Mark Ellison MDMARK ELLISON MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
John Stewart MDJOHN STEWART MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Ron Spearman MDRON SPEARMAN MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Richard M Franza PhDRICHARD M FRANZA PHD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Buffi G Boyd MDBUFFI G BOYD MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Don GranthamDON GRANTHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Brooks Keel PhDBROOKS KEEL PHD
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 0.3
-
J Benjamin Deal DMDJ BENJAMIN DEAL DMD
PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
Loyd B Schnuck Jr MDLOYD B SCHNUCK JR MD
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 0.3
-
Angela ReesANGELA REES
COO/CFO
- Total calculated
- $207,465
- From this org
- $175,440
- From related orgs
- $0
- Other
- $32,025
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,440
- Bonus
- $0
- Other
- $0
- Deferred
- $30,044
- Nontaxable benefits
- $1,981
- Filer's total
- $207,465
-
Martyn JonesMARTYN JONES
PRESIDENT - PACELINE RIDE, LLC
- Total calculated
- $231,573
- From this org
- $198,000
- From related orgs
- $0
- Other
- $33,573
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,000
- Bonus
- $0
- Other
- $0
- Deferred
- $19,800
- Nontaxable benefits
- $13,773
- Filer's total
- $231,573
-
Ian MercierIAN MERCIER
PRESIDENT/CEO
- Total calculated
- $390,968
- From this org
- $306,740
- From related orgs
- $0
- Other
- $84,228
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $301,990
- Bonus
- $0
- Other
- $4,750
- Deferred
- $65,199
- Nontaxable benefits
- $19,029
- Filer's total
- $390,968
-
John EllingerJOHN ELLINGER
DIRECTOR OF IT
- Total calculated
- $139,863
- From this org
- $114,800
- From related orgs
- $0
- Other
- $25,063
- Hours/week
- 40
-
James HolmesJAMES HOLMES
VP - PACELINE RIDE, LLC
- Total calculated
- $150,242
- From this org
- $119,900
- From related orgs
- $0
- Other
- $30,342
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $119,900
- Bonus
- $0
- Other
- $0
- Deferred
- $11,990
- Nontaxable benefits
- $18,352
- Filer's total
- $150,242
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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 2 · Substantiation required before reimbursing expenses
- 4a · Severance or change-of-control payment
- 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)
- PART I, LINE 1A
- THE ORGANIZATION PAID FOR THE PRESIDENT/CEO'S COUNTRY CLUB INITIATION FEES OF $4,750 AND THIS AMOUNT HAS BEEN INCLUDED IN THE PRESIDENT/CEO'S TAXABLE INCOME.
- PART I, LINE 4B
- IAN MERCIER AND ANGELA REES PARTICIPATE IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF THE MEDICAL COLLEGE OF GEORGIA FOUNDATION, INCORPORATED. THE ORGANIZATION CONTRIBUTED $35,000 AND $12,500, RESPECTIVELY, DURING THE FISCAL YEAR ENDING JUNE 30, 2024.
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
-
$10,517,376
INSTITUTIONAL SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
509C3 · SUPPORTING ORGANIZATION · GA
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.
-
REAL ESTATE ACTIVITIES · GA · income $119,829 · assets $569,978
Directly controlled by MEDICAL COLLEGE OF GEORGIA FOUNDATION INC
-
REAL ESTATE ACTIVITIES · GA · income $0 · assets $13,584,511
Directly controlled by MEDICAL COLLEGE OF GEORGIA FOUNDATION INC
-
PACELINE RIDE LLC
FUNDRAISE ACTIVITIES · GA · income $0 · assets $69,665
Directly controlled by MEDICAL COLLEGE OF GEORGIA FOUNDATION INC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER UNITRUSTS - 4
T · TRUST · GA · controlled entity
Directly controlled by MEDICAL COLLEGE OF GEORGIA FNDN
-
CHARITABLE REMAINDER ANNUITY TRUST - 1
T · TRUST · GA · controlled entity
Directly controlled by MEDICAL COLLEGE OF GEORGIA FNDN
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 26 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531299349302573
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