Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $120,692

• 1f · All other contributions, gifts and grants

  $2,234,399

• 3 · Investment income

  total $114,035 · excluded $114,035

• 6a · Gross rents

  real property $10,000

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $10,000

• 6d · Net rental income or loss

  total $10,000 · excluded $10,000

• 7a · Gross sales of assets other than inventory

  securities $250,930

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

  securities $0

• 7c · Gain or loss

  securities $250,930

• 7d · Net gain or loss

  total $250,930 · excluded $250,930

• 8a · Fundraising events: gross income

  $30,173

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

  $120,692

• 8b · Fundraising events: direct expenses

  $33,083

• 8c · Net income from fundraising events

  total -$2,910 · excluded -$2,910

• 11a · Other revenue: REFUNDS, REBATES, ETC.

  total $31,727 · excluded $31,727

• 11e · Other revenue, total

  $31,727

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,051,049 · program services $1,051,049

• 2 · Grants to domestic individuals

  total $781,093 · program services $781,093

• 11c · Fees: accounting

  total $36,343 · management and general $36,343

• 11g · Fees: other

  total $825 · management and general $825

• 12 · Advertising and promotion

  total $15,268 · program services $7,639 · fundraising $7,629

• 13 · Office expenses

  total $90,874 · program services $1,556 · management and general $87,103 · fundraising $2,215

• 16 · Occupancy

  total $10,483 · program services $7,338 · management and general $2,097 · fundraising $1,048

• 17 · Travel

  total $17,403 · program services $12,198 · management and general $5,205

• 19 · Conferences, conventions and meetings

  total $8,871 · program services $2,842 · management and general $795 · fundraising $5,234

• 20 · Interest

  total $50,723 · program services $24,864 · management and general $25,859

• 22 · Depreciation, depletion and amortization

  total $10,589 · program services $8,104 · management and general $2,485

• 23 · Insurance

  total $3,991 · management and general $3,991

• 24a · Other expenses: DUES, FEES, AND SUBSCRI

  total $30,250 · program services $22,675 · management and general $7,575

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,133,785 · end of year $3,042,408

• 3 · Pledges and grants receivable

  beginning of year $26,617 · end of year $46,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $11,489 · end of year $3,000

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

  $1,582,166

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

  $115,203

• 10c · Land, buildings and equipment, net

  beginning of year $1,476,552 · end of year $1,466,963

• 11 · Investments: publicly traded securities

  beginning of year $2,630,225 · end of year $3,496,232

• 17 · Accounts payable and accrued expenses

  beginning of year $1,617 · end of year $196

• 23 · Secured mortgages and notes payable

  beginning of year $1,121,500 · end of year $1,122,500

• 27 · Net assets without donor restrictions

  beginning of year $1,767,639 · end of year $1,337,997

• 28 · Net assets with donor restrictions

  beginning of year $4,387,912 · end of year $5,593,910

The filer's explanations (Part III)

FORM 990 PART VII OFFICER COMPENSATION

SHANNON GEORGECINK, EXECUTIVE DIRECTOR, SPENDS APPROXIMATELY 20% OF TIME WORKING FOR THE ATLANTA TECHNICAL COLLEGE FOUNDATION AND IS COMPENSATED BY AN UNRELATED ENTITY, THE ATLANTA TECHNICAL COLLEGE, FOR SERVICES PROVIDED TO THE FOUNDATION. IN 2023, SHANNON GEORGECINK RECEIVED $28,814 IN COMPENSATION AND BENEFITS FOR SERVICES PROVIDED TO THE FOUNDATION.