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← GEORGIA GWINNETT COLLEGE FOUNDATIONINC

Form 990 for tax year 2023

Filed by GEORGIA GWINNETT COLLEGE FOUNDATIONINC.

Totals

Total revenue
$9,921,420
Total expenses
$6,817,476
Contributions and grants received
$2,873,265
Grants paid
$1,443,077
Program service revenue
$5,755,675
Investment income
$709,715
Other revenue
$582,765
Total assets, end of year
$161,132,382
Total liabilities, end of year
$132,124,905
Net assets or fund balances, end of year
$29,007,477
Program services expenses (Part IX)
$6,248,560
Management and general expenses
$568,916
Fundraising expenses
$0
Program service expenses (Part III)
$6,248,560

Program services were 91.7% 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.

  • 1f · All other contributions, gifts and grants

    $2,873,265

  • 1g · Noncash contributions included above

    $9,782

  • 2a · Program service revenue: COLLEGE FACILITIES LEASE INCOME

    total $5,687,303 · related or exempt $5,687,303

  • 2b · Program service revenue: MISC/OTHER PROGRAM SERVICE REVENU

    total $68,372 · related or exempt $68,372

  • 3 · Investment income

    total $542,087 · excluded $542,087

  • 6a · Gross rents

    real property $582,765

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $582,765

  • 6d · Net rental income or loss

    total $582,765 · related or exempt $582,765

  • 7a · Gross sales of assets other than inventory

    securities $1,454,338

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

    securities $1,286,710

  • 7c · Gain or loss

    securities $167,628

  • 7d · Net gain or loss

    total $167,628 · excluded $167,628

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,443,077 · program services $1,443,077

  • 11g · Fees: other

    total $52,966 · management and general $52,966

  • 20 · Interest

    total $4,805,483 · program services $4,805,483

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $513,966 · management and general $513,966

  • 24b · Other expenses: OTHER OCCUPANCY EXPENSE

    total $1,984 · management and general $1,984

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,704,213 · end of year $1,953,102

  • 2 · Savings and temporary cash investments

    beginning of year $9,117,247 · end of year $9,205,143

  • 3 · Pledges and grants receivable

    beginning of year $1,030,359 · end of year $2,272,679

  • 4 · Accounts receivable

    beginning of year $7,711

  • 7 · Other notes and loans receivable

    beginning of year $19,977 · end of year $63,558

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

    $8,262,388

  • 10c · Land, buildings and equipment, net

    beginning of year $8,262,388 · end of year $8,262,388

  • 11 · Investments: publicly traded securities

    beginning of year $13,980,127 · end of year $15,100,872

  • 13 · Investments: program-related

    beginning of year $129,569,029 · end of year $124,258,771

  • 14 · Intangible assets

    beginning of year $8,571 · end of year $8,114

  • 15 · Other assets

    beginning of year $0 · end of year $7,755

  • 17 · Accounts payable and accrued expenses

    beginning of year $700,765 · end of year $16,264

  • 20 · Tax-exempt bond liabilities

    beginning of year $134,813,326 · end of year $129,260,144

  • 24 · Unsecured notes and loans payable

    beginning of year $135,701 · end of year $37,644

  • 25 · Other liabilities

    beginning of year $2,903,120 · end of year $2,810,853

  • 27 · Net assets without donor restrictions

    beginning of year $19,491,624 · end of year $21,363,422

  • 28 · Net assets with donor restrictions

    beginning of year $5,655,086 · end of year $7,644,055

Mission and programs · 2023

Mission

THE MISSION OF THE GEORGIA GWINNETT COLLEGE FOUNDATION IS TO SERVE AS AN ADVOCATE FOR GEORGIA GWINNETT COLLEGE, A UNIT OF THE UNIVERSITY SYSTEM OF GEORGIA. THE FOUNDATION'S PRIMARY OBJECTIVE IS TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF THE COLLEGE IN THE AREAS OF SCHOLARSHIP, FACULTY EXCELLENCE, TECHNOLOGY, AND DEVELOPMENT OF CAMPUS FACILITIES.

Activities or mission (Part I)

THE FOUNDATION'S PRIMARY OBJECTIVE IS TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF THE COLLEGE IN THE AREAS OF SCHOLARSHIP, FACULTY EXCELLENCE, TECHNOLOGY, AND THE DEVELOPMENT OF CAMPUS FACILITIES.

  • THE FOUNDATION'S EXEMPT SERVICES ARE TWOFOLD:(I) TO HOLD CAMPUS BUILDINGS UNDER LEASES WITH THE UNIVERSITY OF GEORGIA BOARD OF REGENTS FOR USE BY FACULTY AND STUDENTS OF GEORGIA GWINNETT COLLEGE AND TO DEVELOP ADDITIONAL CAMPUS FACILITIES AS NEEDED; AND(II) TO GENERATE AND PROVIDE ADDITIONAL FUNDS FOR THE SUPPORT OF THE STUDENTS, PROGRAMS AND SERVICES OF GEORGIA GWINNETT COLLEGE, SPECIFICALLY FOR THE COLLEGE'S CORE NEEDS INCLUDING GRANTS FOR STUDENT AND FACULTY SUPPORT, RESEARCH AND DEVELOPMENT, AND SCHOLARSHIPS, IN ORDER TO HELP THE COLLEGE ACHIEVE ITS STATED GOALS AND OBJECTIVES.

    Expenses $6,248,560 · Grants $1,443,077 · Revenue $6,338,440

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

Listed in Part VII

  • K Carlton Buchanan Jr MD

    TRUSTEE, CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jann L Joseph PhD Ex-Officio

    TRUSTEE, VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Hendrickson Ex-Officio

    TRUSTEE, PRESIDENT

    Total calculated
    $25,717
    From this org
    $25,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Marsha Anderson Bomar

    TRUSTEE, SECRETARY (RET'D 06/2024)

    Total calculated
    $0
    Hours/week
    1

  • R Lee Tucker Jr

    TRUSTEE, TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Reza Abree

    TRUSTEE (NEW 09/2023)

    Total calculated
    $0
    Hours/week
    1

  • Susie Coilat

    TRUSTEE (NEW 09/2023)

    Total calculated
    $0
    Hours/week
    1

  • Jay Dennard Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Om Duggal

    TRUSTEE (NEW 12/2023)

    Total calculated
    $0
    Hours/week
    1

  • Larry Elbert

    TRUSTEE (NEW 09/2023)

    Total calculated
    $0
    Hours/week
    1

  • Anthony Ferrari

    TRUSTEE (NEW 04/2023)

    Total calculated
    $0
    Hours/week
    1

  • Brandon Hartley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Gregory W Hayes

    TRUSTEE (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Wayne H Mason

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bartow Morgan Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Norberto Sanchez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mitch Stephens

    TRUSTEE (NEW 09/2023)

    Total calculated
    $0
    Hours/week
    1

  • Deon Tucker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom Willard Ex-Officio

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas J Andersen

    TRUSTEE (RET'D 06/2024)

    Total calculated
    $0
    Hours/week
    1

  • Jose R Perez

    TRUSTEE (RET'D 06/2024)

    Total calculated
    $0
    Hours/week
    1

  • David E Snell

    TRUSTEE (RET'D 06/2024)

    Total calculated
    $0
    Hours/week
    1

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.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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)

PART I, LINE 1A
THE FOUNDATION REIMBURSED THE SOCIAL CLUB DUES FOR THE FOUNDATION 'S VICE CHAIR AND PRESIDENT FOR THE USE OF A LOCAL GWINNETT COUNTY DINING CLUB FOR THE ENTERTAINING IN THEIR CAPACITITES WITH THE FOUNDATION. JANN JOSEPH, DIRECTOR, VICE CHAIR, EX-OFFICIO, IN THE AMOUNT OF $1,186 FOR THE YEAR; NO PERSONAL USE WAS REPORTED JENNIFER HENDRICKSON, PRESIDENT, EX-OFFICIO, IN THE AMOUNT OF $1,186 FOR THE YEAR; NO PERSONAL USE WAS REPORTED.
PART I, LINE 1B
THE FOUNDATION FOLLOWS AN ACCOUNTABLE PLAN FOR EXPENSE REIMBURSEMENTS.

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 GWINNETT COLLEGE

    $756,527

    GENERAL ACADEMIC, CLASSROOM AND/OR SUPPLIES SUPPORT OF THE COLLEGE

  • GEORGIA GWINNETT COLLEGE

    $364,957

    GENERAL PROGRAM, OPERATIONS & ADMINISTRATION SUPPORT OF THE COLLEGE

  • GEORGIA GWINNETT COLLEGE

    $311,701

    NEED & MERIT BASED SCHOLARSHIPS APPROVED BY THE COLLEGE & FUNDED BY THE FOUNDATION

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.

  • GGC REAL ESTATE PARKING I LLC

    OWNERSHIP OF LAND & BUILDING FOR TEACHING, RECREATION, & PARKING FACILITIES · GA · income $493,274 · assets $8,244,923

  • GGC FOUNDATION LLC (STUDENT HOUSING)

    OWNERSHIP OF LAND & BUILDING FOR HOUSING & PARKING FACILITIES · GA · income $4,253,895 · assets $95,499,688

  • GGC STUDENT HOUSING LAND LLC

    FOR LAND PURCHASES FOR FUTURE COLLEGE FACILITIES · GA · income $0 · assets $0

  • GGC STUDENT CENTER LLC

    OWNERSHIP OF LAND & BUILDING FOR DINING, BOOKSTORE & MEETING FACILITIES · GA · income $1,327,086 · assets $30,096,426

  • 215 COLLINS INDUSTRIAL WAY LLC

    OWNERSHIP OF LAND & BUILDING FOR FACULTY OFFICE FACILITIES · GA · income $0 · assets $0

  • GGCF ATHLETIC FIELDS LLC

    OWNERSHIP OF LAND & BUILDING FOR VARSITY ATHLETIC & TENNIS FACILITIES · GA · income $807,952 · assets $15,021,439

Provenance

Return type
form_990
Tax year
2023
Filed
11 December 2024
IRS schema version
2023v5.1
Source object
202443469349300644

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