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Nonprofiteer
← COLLEGE OF COASTAL GEORGIA FOUNDATION INC

Form 990 for tax year 2023

Filed by COLLEGE OF COASTAL GEORGIA FOUNDATION INC.

Totals

Total revenue
$3,241,392
Total expenses
$1,874,439
Contributions and grants received
$2,621,611
Grants paid
$1,707,182
Program service revenue
$40,000
Investment income
$573,396
Other revenue
$6,385
Total assets, end of year
$25,634,093
Total liabilities, end of year
$358,964
Net assets or fund balances, end of year
$25,275,129
Program services expenses (Part IX)
$1,707,182
Management and general expenses
$156,691
Fundraising expenses
$10,566
Program service expenses (Part III)
$1,707,182

Program services were 91.1% 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

    $23,450

  • 1f · All other contributions, gifts and grants

    $2,598,161

  • 1g · Noncash contributions included above

    $194,445

  • 2a · Program service revenue: Rental to College for

    total $40,000 · related or exempt $40,000

  • 3 · Investment income

    total $507,468 · excluded $507,468

  • 7a · Gross sales of assets other than inventory

    securities $467,772

  • 7b · Less cost or other basis and sales expenses

    securities $401,844

  • 7c · Gain or loss

    securities $65,928

  • 7d · Net gain or loss

    total $65,928 · excluded $65,928

  • 8a · Fundraising events: gross income

    $28,050

  • 8a · Fundraising events: contributions included on line 1c

    $23,450

  • 8b · Fundraising events: direct expenses

    $21,665

  • 8c · Net income from fundraising events

    total $6,385 · excluded $6,385

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,146,570 · program services $1,146,570

  • 2 · Grants to domestic individuals

    total $560,612 · program services $560,612

  • 11f · Fees: investment management

    total $55,765 · management and general $55,765

  • 11g · Fees: other

    total $41,790 · management and general $41,790

  • 13 · Office expenses

    total $69,619 · management and general $59,053 · fundraising $10,566

  • 20 · Interest

    total $83 · management and general $83

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,045,358 · end of year $874,282

  • 3 · Pledges and grants receivable

    beginning of year $2,450,998 · end of year $2,727,611

  • 9 · Prepaid expenses and deferred charges

    beginning of year $678 · end of year $677

  • 10a · Land, buildings and equipment: cost or other basis

    $2,427,086

  • 10b · Land, buildings and equipment: accumulated depreciation

    $412,108

  • 10c · Land, buildings and equipment, net

    beginning of year $1,330,405 · end of year $2,014,978

  • 11 · Investments: publicly traded securities

    beginning of year $17,339,516 · end of year $19,760,260

  • 15 · Other assets

    beginning of year $256,285 · end of year $256,285

  • 17 · Accounts payable and accrued expenses

    beginning of year $327,470 · end of year $357,887

  • 25 · Other liabilities

    beginning of year $2,463 · end of year $1,077

  • 27 · Net assets without donor restrictions

    beginning of year $3,861,233 · end of year $4,575,872

  • 28 · Net assets with donor restrictions

    beginning of year $18,232,074 · end of year $20,699,257

Mission and programs · 2023

Mission

To develop resources to support the College in providing quality education. The Foundation also serves as an advocate within the Coastal Georgia community to further the goals of the College.

Activities or mission (Part I)

The College of Coastal Georgia Foundation develops resources to support the College in providing quality education. The Foundation also serves as an advocate within the Coastal Georgia community to further the goals of the College.

  • Academic Programming: Quality faculty are the cornerstone of higher education. The College's ability to recruit and retain outstanding academic talent ensures its status in and contributions to higher education. With shrinking public funds and increasing performance demands, the Foundation secures funding to support faculty learning, research, scholarship and innovation. Currently there are forty-five diverse funds maintained for these purposes. These funds support all educational programs at the College and most notably in 2023, Nursing Curriculum, Nursing Clinical Assistants, The Lucas Center for Entrpreneurshp, and Cyber-Security. The Foundation seeks to establish new sources of faculty support annually and works to commit support to reach a range of 10% to 20% of the annual budget of the Foundation.

    Expenses $673,835 · Grants $673,835

  • Academic Scholarship: Merit scholarships and targeted academic incentives are important tools in recruitment and retention of top notch students. The Foundation is committeed to continuing awards of full or partial scholarships at meaningful funding levels to five percent of more of total enrollment. To attract and retain outstanding students, the Foundation will continue to consider innovative scholarship and support programs such as the W. Kantor International Scholars, the Brenda and Mac Nease Foundation scholarships, and the Hites / Dinos Scholarships. The majority of the Foundation's sixty-four endowment funds support scholarships. In the 2022-2023 Academic year the Foundation made 980 scholarship awards to approximately 771 students.

    Expenses $560,612 · Grants $560,612

  • Campus Programming/Student Life including Athletics and General Operations: The college experience is heightened through quality extra-and co-curricular activities. The Foundation sustains arts and cultural experiences, lecture series, social gatherings, and career development opportunities that serve to expand the horizons of students, faculty and staff, and to provide enrichment for the community at large. Campus Programming / Student Life funds include: The Coastal Georgia Minority Outreach Program, Let's Talk Coastal, the Theatre fund, Veteran Funds, a Campus Pantry and a Student Publication fund (Seaswell's). Athletic funds include support for the Athletic Department, Athletic scholarships and support for the eight inter-scholastic college sports teams. While cultivating significant named giving, the Foundation's goal is at least 20% of the annual budget for campus programming/student life and athletic programming. The Foundation also supports general operations expenses which should be under 10% of the annual budget.

    Expenses $318,133 · Grants $318,133

  • Other Program Services: Housing/Capital Expansion: Student housing and additional instructional facilities remain critical for the College's expansion and growth. The Foundation looks to support new and improved facilities and the future phases of student housing. Currently the Foundation owns and operates Coastal Place Apartments, which is a 132 student off-campus housing unit in conjuction with the College's residential housing program. The Foundation also recently aquired a kitchen lab in downtown Brunswick to expand instruction for the College's Culinary Arts program and provide more cooperative education experiences for it's students. There are various naming opportunities through capital donations for new and existing campus buildings and infrastructure (e.g., walkways, water features, laboratories, student meeting areas) that can be targeted for future solicitations.

    Expenses $154,602 · Grants $154,602 · Revenue $40,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Hillary Stringfellow

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Daren Pietsch

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Glenn Hansen

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Susan Imhoff

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • William Stembler

    Past Chair

    Total calculated
    $0
    Hours/week
    2

  • Cedric King

    At-Large

    Total calculated
    $0
    Hours/week
    2

  • Diana Murphy

    At-Large

    Total calculated
    $0
    Hours/week
    2

  • Abra Lattany-Reed

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Deborah Luginbuhl

    At-Large

    Total calculated
    $0
    Hours/week
    2

  • Burch Barger

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Shawn Boatright

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brenda Boone-Cove

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dialo Cartwright

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kavanaugh Chandler

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • John Crews

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Heard Galis

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Bill Gussman

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Anthony Guthrie

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Tres Hamilton

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kay Hampton

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Duane Harris

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Angela Heys

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • James Holler

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Stephen Kinney

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Janice Lamattina

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ben Lee

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Scott McQuade

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Steve Melnyk

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Don Myers

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brenda Nease

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Missy Neu

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Patrick Parker

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • John Rogers

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mike Scherneck

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Scott Steilen

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Catina Tindall

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lance Toland

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Curtia Tumlin

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tommy Walden

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • Shirley Wilson

    Active Trustee

    Total calculated
    $0
    Hours/week
    1

  • David Zimmerman

    Active Trustee

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

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.

  • Coastal Georgia Real Estate Foundation LLC

    Real Estate Activities · GA · income $40,000 · assets $1,625,282

    Directly controlled by College of Coastal Ga Fdn Inc

  • College of Coastal Georgia Foundation 1407 Union St LLC

    Real Estate Activities · GA · income $608,500 · assets $571,700

    Directly controlled by College of Coastal Ga Fdn Inc

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202403189349305735

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