Skip to content
Nonprofiteer
← GEORGIA REGENTS REAL ESTATE CORPORATION

Form 990 for tax year 2022

Filed by GEORGIA REGENTS REAL ESTATE CORPORATION.

Totals

Total revenue
$4,536,338
Total expenses
$136,070
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$87,255
Investment income
$541,043
Other revenue
$3,908,040
Total assets, end of year
$21,754,681
Total liabilities, end of year
$17,354,413
Net assets or fund balances, end of year
$4,400,268
Program services expenses (Part IX)
$61,662
Management and general expenses
$74,408
Fundraising expenses
$0
Program service expenses (Part III)
$61,662

Program services were 45.3% 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.

  • 2a · Program service revenue: LEASE TERMINATION FEES

    total $83,955 · related or exempt $83,955

  • 2b · Program service revenue: AV SERVICES

    total $3,300 · related or exempt $3,300

  • 3 · Investment income

    total $541,043 · excluded $541,043

  • 6a · Gross rents

    real property $4,224,716

  • 6b · Less rental expenses

    real property $316,676

  • 6c · Rental income or loss

    real property $3,908,040

  • 6d · Net rental income or loss

    total $3,908,040 · related or exempt $3,908,040

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $18,233 · program services $18,233

  • 11c · Fees: accounting

    total $23,034 · management and general $23,034

  • 13 · Office expenses

    total $44,423 · program services $43,429 · management and general $994

  • 23 · Insurance

    total $43,041 · management and general $43,041

  • 24a · Other expenses: SPECIAL EVENTS/ HOSPITA

    total $4,785 · management and general $4,785

  • 24b · Other expenses: SUBSCRIPTIONS

    total $2,554 · management and general $2,554

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $3,746,748

  • 4 · Accounts receivable

    beginning of year $0 · end of year $274,941

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $54,266

  • 15 · Other assets

    beginning of year $0 · end of year $17,678,726

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $440,293

  • 19 · Deferred revenue

    beginning of year $0 · end of year $71,575

  • 25 · Other liabilities

    beginning of year $0 · end of year $16,842,545

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $4,400,268

Mission and programs · 2022

Mission

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY AS A SUPPORTING ORGANIZATION TO AND FOR THE BENEFIT OF AUGUSTA UNIVERSITY, AN INSTRUMENTALITY OF THE UNIVERSITY SYSTEM OF GEORGIA, AND TO MANAGE REAL ESTATE ASSETS AND TO CREATE AND ADMINISTER COMMERCIAL REVENUE IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND CLINICAL MISSION OF AUGUSTA UNIVERSITY.

Activities or mission (Part I)

THE CORPORATION SUPPORTS AUGUSTA UNIVERSITY AND ITS EDUCATIONAL, RESEARCH, AND CLINICAL MISSION THROUGH MANAGING REAL ESTATE ASSETS AND ADMINISTERING COMMERCIAL REVENUE.

  • MANAGE REAL ESTATE ASSETS AND TO CREATE AND ADMINISTER COMMERCIAL REVENUE IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND CLINICAL MISSION OF AUGUSTA UNIVERSITY.

    Expenses $61,662 · Revenue $3,995,295

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brooks Keel

    PRESIDENT & CHAIRMAN

    Total calculated
    $1,215,819
    From this org
    $0
    From related orgs
    $903,523
    Other
    $312,296
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $856,473 related
    Bonus
    $0 + $3,750 related
    Other
    $0 + $43,300 related
    Deferred
    $0 + $300,000 related
    Nontaxable benefits
    $0 + $12,296 related
    Filer's total
    $0 + $1,215,819 related

  • William Shaffer

    VICE PRESIDENT

    Total calculated
    $317,568
    From this org
    $0
    From related orgs
    $317,568
    Other
    $0
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $313,818 related
    Bonus
    $0 + $3,750 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $317,568 related

  • Yvonne Turner

    TREASURER

    Total calculated
    $393,336
    From this org
    $0
    From related orgs
    $387,284
    Other
    $6,052
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $383,424 related
    Bonus
    $0 + $3,860 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,052 related
    Filer's total
    $0 + $393,336 related

  • Christopher Melcher

    SECRETARY

    Total calculated
    $273,804
    From this org
    $0
    From related orgs
    $273,054
    Other
    $750
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,304 related
    Bonus
    $0 + $3,750 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $750 related
    Filer's total
    $0 + $273,804 related

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

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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431359349310958

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.