Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $102,399,736

• 2a · Program service revenue: Ticket Revenue

  total $35,870,787 · related or exempt $35,870,787

• 2b · Program service revenue: NCAA/SEC Distribution

  total $53,476,382 · related or exempt $53,476,382

• 2c · Program service revenue: Media Revenue

  total $14,294,161 · related or exempt $14,294,161

• 2d · Program service revenue: Sky Suites

  total $7,949,528 · related or exempt $7,949,528

• 2e · Program service revenue: Student Fees

  total $3,720,774 · related or exempt $3,720,774

• 2f · All other program service revenue

  total $2,291,300 · related or exempt $2,291,300 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $982,104 · excluded $982,104

• 4 · Income from investment of tax-exempt bond proceeds

  total $1,135,124 · excluded $1,135,124

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  other assets $21,400

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

  other assets $347,727

• 7c · Gain or loss

  securities $0 · other assets -$326,327

• 7d · Net gain or loss

  total -$326,327 · related or exempt -$326,327

• 11a · Other revenue: Licensing & Promotions

  total $13,078,877 · related or exempt $13,078,877

• 11b · Other revenue: Product Endorsements

  total $1,352,692 · related or exempt $1,352,692

• 11c · Other revenue: Postage & Handling

  total $837,627 · related or exempt $837,627

• 11d · All other revenue

  total $4,509,820 · related or exempt $4,509,820 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $19,779,016

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,500,000 · program services $4,500,000

• 2 · Grants to domestic individuals

  total $12,428,527 · program services $12,428,527

• 5 · Compensation of officers, directors and key employees

  total $14,849,225 · program services $14,849,225

• 7 · Other salaries and wages

  total $54,271,755 · program services $43,413,187 · management and general $9,475,247 · fundraising $1,383,321

• 8 · Pension plan contributions

  total $5,062,229 · program services $3,564,429 · management and general $1,324,908 · fundraising $172,892

• 9 · Other employee benefits

  total $3,561,213 · program services $2,507,529 · management and general $932,056 · fundraising $121,628

• 10 · Payroll taxes

  total $3,469,010 · program services $2,442,608 · management and general $907,924 · fundraising $118,478

• 11b · Fees: legal

  total $512,120 · management and general $512,120

• 11c · Fees: accounting

  total $170,867 · management and general $170,867

• 11g · Fees: other

  total $477,187 · program services $394,887 · management and general $82,300 · fundraising $0

• 12 · Advertising and promotion

  total $2,010,415 · program services $2,010,415

• 13 · Office expenses

  total $5,954,600 · program services $3,068,823 · management and general $2,671,413 · fundraising $214,364

• 16 · Occupancy

  total $3,770,715 · management and general $3,770,715

• 17 · Travel

  total $13,005,122 · program services $11,400,334 · management and general $1,502,818 · fundraising $101,970

• 20 · Interest

  total $4,827,004 · management and general $4,827,004

• 22 · Depreciation, depletion and amortization

  total $14,927,613 · program services $14,927,613

• 23 · Insurance

  total $2,329,437 · program services $306,060 · management and general $2,023,377

• 24a · Other expenses: GAME AND MEET EXPENSE

  total $18,096,045 · program services $18,096,045

• 24b · Other expenses: REPAIR AND MAINTENANCE

  total $17,829,371 · program services $3,207,680 · management and general $14,621,691

• 24c · Other expenses: RECRUITING

  total $6,563,268 · program services $6,563,268

• 24d · Other expenses: STUDENT SUPPORT

  total $5,470,581 · program services $4,648,983 · management and general $821,598

• 24e · All other expenses

  total $13,278,207 · program services $11,566,274 · management and general $689,124 · fundraising $1,022,809

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $44,289,018 · end of year $2,545,692

• 2 · Savings and temporary cash investments

  beginning of year $64,200,238 · end of year $57,624,656

• 4 · Accounts receivable

  beginning of year $5,875,591 · end of year $5,400,228

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,903,101 · end of year $979,573

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

  $680,792,099

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

  $189,665,312

• 10c · Land, buildings and equipment, net

  beginning of year $419,515,468 · end of year $491,126,787

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $2,560,536 · end of year $2,755,968

• 15 · Other assets

  beginning of year $54,099,710 · end of year $52,637,642

• 17 · Accounts payable and accrued expenses

  beginning of year $33,771,435 · end of year $35,853,631

• 19 · Deferred revenue

  beginning of year $36,487,244 · end of year $33,734,058

• 20 · Tax-exempt bond liabilities

  beginning of year $114,056,009 · end of year $108,451,409

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $12,501,000 · end of year $1,000

• 25 · Other liabilities

  beginning of year $2,636,680 · end of year $2,732,945

• 27 · Net assets without donor restrictions

  beginning of year $392,991,294 · end of year $432,297,503

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

Officers and key employees fly first class only through free upgrades. The University of Georgia Athletic Association utilizes a charter plane for business purposes. If the plane is at least filled 50% with occupants traveling for a bona fide business purpose, these individuals are allowed to fill open seats.

Schedule J, Part I, Line 1a Travel for companions

Officers and key employees may bring associates or family members on a chartered flight if seats are available and the plane is used at least 50% for business purposes. In this case, companions may fill open seats. If the plane is not used at least 50% for business purposes, then the value of the flight for the companions is calculated and reported as taxable compensation on the employee's W-2.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

Officers and key employees pay for social club monthly dues. The University of Georgia Athletic Association reimburses them 50% of the monthly cost without substantiation. The reimbursement is taxable compensation reported on form W-2.

Schedule J, Part I, Line 4a Severance or change-of-control payment

Thomas Crean, former head basketball coach was paid a severance payment of $1,536,000 per his contract.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

The compensation reported in Schedule J, Part II, Column C includes deferred compensation of $267,576 paid by the University of Georgia during 2023 as part of a supplemental nonqualified retirement plan for Jere W. Morehead. For fiscal year 2024, the University System of Georgia Board of Regents approved an annualized $280,245 contribution made by the University of Georgia on behalf of Jere W. Morehead to an approved deferred compensation plan per Board of Regents' policy.

Schedule J, Part I, Line 3 Chairman Compensation

The chairman of the University of Georgia Athletic Association is paid directly by the University of Georgia for his role as the president of the University of Georgia. The University System of Georgia Board of Regents establishes the president's annual compensation through the use of a written employment contract, compensation survey or study, and the approval by the board or compensation committee.