Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $136,026,820

• 1g · Noncash contributions included above

  $26,118,316

• 2a · Program service revenue: INVESTMENT FEE INCOME

  total $688,331 · related or exempt $688,331

• 2b · Program service revenue: COST RECOVERIES

  total $7,578 · related or exempt $7,578

• 3 · Investment income

  total $32,023,165 · unrelated business $4,451,936 · excluded $27,571,229

• 5 · Royalties

  total $917,630 · excluded $917,630

• 6a · Gross rents

  real property $22,475,699 · personal property $15,516,428

• 6b · Less rental expenses

  real property $21,202,220 · personal property $13,025,072

• 6c · Rental income or loss

  real property $1,273,479 · personal property $2,491,356

• 6d · Net rental income or loss

  total $3,764,835 · unrelated business $2,491,356 · excluded $1,273,479

• 7a · Gross sales of assets other than inventory

  securities $1,034,230,000

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

  securities $924,810,508

• 7c · Gain or loss

  securities $109,419,492

• 7d · Net gain or loss

  total $109,419,492 · excluded $109,419,492

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $119,030,932 · program services $119,030,932

• 5 · Compensation of officers, directors and key employees

  total $2,807,181 · management and general $2,807,181

• 7 · Other salaries and wages

  total $4,753,140 · management and general $4,753,140

• 8 · Pension plan contributions

  total $453,390 · management and general $453,390

• 9 · Other employee benefits

  total $555,462 · management and general $555,462

• 10 · Payroll taxes

  total $354,646 · management and general $354,646

• 11a · Fees: management

  total $191,443 · management and general $191,443

• 11b · Fees: legal

  total $382,738 · program services $28,036 · management and general $354,702

• 11c · Fees: accounting

  total $392,511 · management and general $392,511

• 11d · Fees: lobbying

  total $76,492 · program services $76,492

• 11f · Fees: investment management

  total $12,005,711 · management and general $12,005,711

• 11g · Fees: other

  total $2,138,101 · program services $595,380 · management and general $1,456,721 · fundraising $86,000

• 13 · Office expenses

  total $1,435,641 · program services $50,144 · management and general $291,990 · fundraising $1,093,507

• 14 · Information technology

  total $17,929 · management and general $17,929

• 17 · Travel

  total $134,567 · program services $3,479 · management and general $131,088

• 19 · Conferences, conventions and meetings

  total $5,428,636 · program services $3,731,247 · management and general $399,189 · fundraising $1,298,200

• 20 · Interest

  total $2,500,882 · program services $2,500,882

• 22 · Depreciation, depletion and amortization

  total $315,564 · program services $258,978 · management and general $56,586

• 23 · Insurance

  total $125,282 · program services $125,282

• 24a · Other expenses: REIMBURSEMENT TO GT

  total $3,862,214 · management and general -$15,873 · fundraising $3,878,087

• 24b · Other expenses: MISCELLANEOUS

  total $306,791 · management and general $306,791

• 24c · Other expenses: INCOME TAXES

  total $150,000 · management and general $150,000

• 24d · Other expenses: MAINTENANCE/REPAIRS

  total $111,054 · management and general $111,054

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $19,589,282 · end of year $19,949,536

• 3 · Pledges and grants receivable

  beginning of year $106,408,352 · end of year $138,891,356

• 4 · Accounts receivable

  beginning of year $23,124,646 · end of year $25,320,774

• 7 · Other notes and loans receivable

  beginning of year $1,300,413 · end of year $975,389

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

  $261,112,132

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

  $38,539,933

• 10c · Land, buildings and equipment, net

  beginning of year $226,206,270 · end of year $222,572,199

• 11 · Investments: publicly traded securities

  beginning of year $139,645,347 · end of year $171,795,790

• 12 · Investments: other securities

  beginning of year $2,459,166,854 · end of year $2,605,448,320

• 15 · Other assets

  beginning of year $132,316,542 · end of year $130,272,122

• 17 · Accounts payable and accrued expenses

  beginning of year $34,888,607 · end of year $34,139,000

• 19 · Deferred revenue

  beginning of year $8,966,764 · end of year $7,149,495

• 20 · Tax-exempt bond liabilities

  beginning of year $80,033,788 · end of year $71,807,074

• 23 · Secured mortgages and notes payable

  beginning of year $258,409,487 · end of year $251,396,688

• 25 · Other liabilities

  beginning of year $195,060,707 · end of year $199,626,574

• 27 · Net assets without donor restrictions

  beginning of year $362,020,019 · end of year $408,771,996

• 28 · Net assets with donor restrictions

  beginning of year $2,168,378,334 · end of year $2,342,334,659

The filer's explanations (Part III)

PART I, LINE 1A

HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES GEORGIA TECH FOUNDATION, INC. PROVIDES REIMBURSEMENT TO ALFREDO TRUJILLO SOCIAL CLUB. THE BUSINESS EXPENSES ARE SUBSTANTIATED. THE DUES ARE ALSO FOR THE BUSINESS EXPENSES AND THE DUES RELATED TO THEIR MEMBERSHIP IN A PAID AND THE PERSONAL USE AMOUNT IS INCLUDED AS COMPENSATION ON FORM W-2.

PART I, LINE 3

ESTABLISHMENT OF CEO/EXECUTIVE DIRECTOR COMPENSATION THE COMPENSATION COMMITTEE OF THE GEORGIA TECH FOUNDATION IS CHARGED WITH REVIEWING AND APPROVING COMPENSATION AND BENEFITS PROVIDED BY THE GEORGIA TECH FOUNDATION, INC. THE COMPENSATION COMMITTEE IS COMPOSED OF THE FOUR BOARD OFFICERS OF THE GEORGIA TECH FOUNDATION, WHO ARE NOT COMPENSATED AND ARE NOT RELATED TO INDIVIDUALS WHOSE COMPENSATION IS UNDER REVIEW. THE COMPENSATION COMMITTEE MAY HIRE COMPENSATION CONSULTANTS AND RELIES ON MARKET DATA IN ASSESSING REASONABLENESS OF COMPENSATION AND BENEFITS FOR THE PRESIDENT AND CHIEF OPERATING OFFICER AND THE SENIOR STAFF.

SCHEDULE J, PART I, LINE 5A & 6A:

INCENTIVE COMPENSATION BONUSES ARE PAID TO INVESTMENT STAFF IF THE INVESTMENT RETURN EXCEEDS THE TARGET.

SCHEDULE J, PART I, LINE 7:

CERTAIN BONUSES ARE PAID TO LEADERSHIP BASED ON DISCRETION OF THE COMPENSATION COMMITTEE.

SCHEDULE J, PART II:

SUPPLEMENTAL INFORMATION DR. ANGEL CABRERA IS THE PRESIDENT OF THE GEORGIA INSTITUTE OF TECHNOLOGY. AS PRESIDENT HE SERVES AS AN EX-OFFICIO VOTING TRUSTEE OF THE GEORGIA TECH FOUNDATION. THE GEORGIA INSTITUTE OF TECHNOLOGY, A UNIT OF THE UNIVERSITY SYSTEM OF GEORGIA, PROVIDES COMPENSATION TO DR. CABRERA, AS REPORTED IN SCHEDULE J, PART II. THE BOARD OF REGENTS OF THE UNIVERSITY OF GEORGIA DETERMINES DR. CABRERA'S COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• FIFTH STREET HOTEL LLC

  HOLDING CORP. · GA · income $20,796,071 · assets $38,954,121

  Directly controlled by GTF INC

• TECHNOLOGY SQUARE LLC

  HOLDING CORP. · GA · income $6,256,473 · assets $108,848,382

  Directly controlled by GTF INC

• CYPRESS ACADEMY LLC

  HOLDING CORP. · GA · income $0 · assets $4,895,804

  Directly controlled by GTF INC

• GEORGIA TECH FOUNDATION PROPERTIES LLC

  REAL ESTATE · GA · income $0 · assets $3,576,756

  Directly controlled by GTF INC

• 70 4TH STREET LLC

  REAL ESTATE · GA · income $0 · assets $1,487,007

  Directly controlled by GEORGIA TECH FOUNDATION PROPERTIES INC

• ACADEMY OF MEDICINE LLC

  REAL ESTATE · GA · income $0 · assets $0

  Directly controlled by GTF INC

• BILTMORE TECHNOLOGY SQUARE LLC

  HOLDING CORP. · DE · income $3,852,251 · assets $52,053,374

  Directly controlled by GTF INC

• GTF 1052 LLC

  HOLDING CORP. · DE · income -$2,967,155 · assets $38,415,658

  Directly controlled by GTF INC

• GTF ATC LLC

  HOLDING CORP. · GA · income $4,185,083 · assets $47,100,852

  Directly controlled by GTF INC

• 665 MARIETTA LLC

  HOLDING CORP. · GA · income $1,575 · assets $39,242,108

  Directly controlled by GTF INC

• GTF MEANS STREET LLC

  HOLDING CORP. · GA · income $36,000 · assets $630,661

  Directly controlled by GTF INC

• 600 MEANS STREET LLC

  HOLDING CORP. · GA · income $0 · assets $0

  Directly controlled by GTF INC

• GTF VENTURES LLC

  HOLDING CORP. · GA · income $0 · assets $2,016,667

  Directly controlled by GTF INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER UNITRUSTS (30)

  T · TRUST · GA · controlled entity

• CHARITABLE REMAINDER ANNUITY TRUSTS (1)

  T · TRUST · GA · controlled entity

• GTF POOLED INCOME FUND

  T · TRUST · GA · controlled entity

• GEORGIA TECH CHARITABLE LIFE INC

  C · INSURANCE SER · GA · controlled entity