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Nonprofiteer
← GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC

Form 990 for tax year 2024

Filed by GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$19,583,607
Total expenses
$12,347,881
Contributions and grants received
$11,575,494
Grants paid
$7,221,878
Program service revenue
$0
Investment income
$7,587,914
Other revenue
$420,199
Total assets, end of year
$149,474,950
Total liabilities, end of year
$769,689
Net assets or fund balances, end of year
$148,705,261
Program services expenses (Part IX)
$9,665,703
Management and general expenses
$1,716,266
Fundraising expenses
$965,912
Program service expenses (Part III)
$9,665,703

Program services were 78.3% 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.

  • 1c · Fundraising events

    $73,023

  • 1f · All other contributions, gifts and grants

    $11,502,471

  • 1g · Noncash contributions included above

    $595,575

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,310,869 · unrelated business $57,628 · excluded $3,253,241

  • 5 · Royalties

    total $90,854 · excluded $90,854

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $15,290,760

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

    securities $11,013,715

  • 7c · Gain or loss

    securities $4,277,045 · other assets $0

  • 7d · Net gain or loss

    total $4,277,045 · excluded $4,277,045

  • 8a · Fundraising events: gross income

    $8,200

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

    $73,023

  • 8b · Fundraising events: direct expenses

    $76,121

  • 8c · Net income from fundraising events

    total -$67,921 · excluded -$67,921

  • 9a · Gaming: gross income

    $32,473

  • 9b · Gaming: direct expenses

    $1,500

  • 9c · Net income from gaming

    total $30,973 · excluded $30,973

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

    total $366,293 · excluded $366,293

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $366,293

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,221,878 · program services $7,221,878

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11c · Fees: accounting

    total $37,400 · management and general $37,400

  • 11e · Fees: professional fundraising services

    total $60,000 · fundraising $60,000

  • 11f · Fees: investment management

    total $1,143,663 · management and general $1,143,663

  • 11g · Fees: other

    total $535,581 · program services $316,061 · management and general $172,841 · fundraising $46,679

  • 12 · Advertising and promotion

    total $63,887 · program services $43,685 · management and general $373 · fundraising $19,829

  • 13 · Office expenses

    total $536,931 · program services $337,897 · management and general $12,779 · fundraising $186,255

  • 16 · Occupancy

    total $210,318 · program services $210,318

  • 17 · Travel

    total $529,393 · program services $400,781 · management and general $29,238 · fundraising $99,374

  • 19 · Conferences, conventions and meetings

    total $576,028 · program services $436,087 · management and general $31,814 · fundraising $108,127

  • 20 · Interest

    total $19,887 · program services $19,887

  • 22 · Depreciation, depletion and amortization

    total $43,731 · program services $43,731

  • 23 · Insurance

    total $45,236 · program services $10,624 · management and general $34,351 · fundraising $261

  • 24a · Other expenses: PROMOTION & CULTIVATION

    total $698,782 · program services $529,868 · management and general $4,527 · fundraising $164,387

  • 24b · Other expenses: SUPPLIES & EQUIPMENT

    total $199,713 · management and general $3,387 · fundraising $196,326

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $186,096 · management and general $186,096

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $108,735 · program services $7,185 · management and general $42,652 · fundraising $58,898

  • 24e · All other expenses

    total $130,622 · program services $87,701 · management and general $17,145 · fundraising $25,776

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $299,941 · end of year $627,516

  • 3 · Pledges and grants receivable

    beginning of year $4,262,971 · end of year $4,214,980

  • 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

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

    $1,864,599

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

    $481,116

  • 10c · Land, buildings and equipment, net

    beginning of year $1,427,214 · end of year $1,383,483

  • 11 · Investments: publicly traded securities

    beginning of year $45,390,740 · end of year $49,678,426

  • 12 · Investments: other securities

    beginning of year $80,506,806 · end of year $88,931,921

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,112,124 · end of year $4,638,624

  • 17 · Accounts payable and accrued expenses

    beginning of year $878,452 · end of year $769,689

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $9,153,195 · end of year $9,252,481

  • 28 · Net assets with donor restrictions

    beginning of year $126,968,149 · end of year $139,452,780

Mission and programs · 2024

Mission

The Georgia Southern University Foundation, Inc. was created to raise private funding to meet certain educational and institutional needs at Georgia Southern University not addressed by state allocations. The Foundation's primary mission is to "promote the cause of higher education" by assisting Georgia Southern University in fulfilling its multifaceted mission: -To support cultural opportunities, economic growth, environmental quality, scientific and technological progress, and social and personal well-being. -To graduate knowledgeable, clear-thinking, articulate students. -To expand horizons through outreach in sciences and liberal arts, preservation of distinctive cultural legacies, and attention to the integrity of south Georgia's environment.

Activities or mission (Part I)

The Georgia Southern University Foundation was established in 1963 to receive, manage, and administer private gifts in support of the Georgia Southern University mission and priorities. The Foundation primarily accomplishes this mission by providing leadership in obtaining the resources needed to attain university goals and through responsible stewardship of funds and other assets entrusted to it. The Georgia Southern University Foundation raises, invests, and distributes private dollars needed to fund the programs, projects, scholarships, equipment, and buildings that help Georgia Southern University earn and maintain a reputation for excellence.

  • THE GEORGIA SOUTHERN UNIVERSITY FOUNDATION EXISTS TO ASSIST GEORGIA SOUTHERN UNIVERSITY IN FULFILLING ITS MULTIFACETED MISSION AND ITS EFFORTS TO ACHIEVE EDUCATIONAL EXCELLENCE. THE FOUNDATION PRIMARILY ACCOMPLISHES THIS MISSION BY PROVIDING LEADERSHIP IN OBTAINING THE RESOURCES NEEDED TO ATTAIN UNIVERSITY GOALS AND THROUGH RESPONSIBLE STEWARDSHIP OF FUNDS AND OTHER ASSETS ENTRUSTED TO IT. THE GEORGIA SOUTHERN UNIVERSITY FOUNDATION RAISES, INVESTS, AND DISTRIBUTES PRIVATE DOLLARS NEEDED TO FUND THE PROGRAMS, PROJECTS, SCHOLARSHIPS, EQUIPMENT, AND BUILDINGS THAT HELP GEORGIA SOUTHERN UNIVERSITY BARN AND MAINTAIN A REPUTATION FOR EXCELLENCE.

    Expenses $9,665,703 · Grants $7,221,878

As filed on the 2024 return.

Listed in Part VII

  • Dana A Potts

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Richard Timothy Evans Jr

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Stephen Milner

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Trip C Addison

    President & Ex-Officio

    Total calculated
    $292,124
    From this org
    $247,811
    From related orgs
    $0
    Other
    $44,313
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,811
    Bonus
    $0
    Other
    $0
    Deferred
    $23,493
    Nontaxable benefits
    $20,820
    Filer's total
    $292,124

  • Ames Barnett

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Bill Crider

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brandon Butler

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Cedric D Henry

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Christian Flathman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Curtis Williams

    Ex-Officio

    Total calculated
    $0
    Hours/week
    1

  • David H Brooker

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Paddison

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David R Edwards

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Deborah Nelson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dr Don Aaron Jr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dr John T Hodges

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dr Kelley Chester

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ellen Bolch

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Eric Johnson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • J Ray Hendley Sr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James A Van Epps

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kash Trivedi

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kim Hartsock

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Preston Etheridge

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ronny Just

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sharon Ponder

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Spence Mullis

    Ex-Officio

    Total calculated
    $0
    Hours/week
    1

  • Craig Brown

    CFO

    Total calculated
    $156,512
    From this org
    $131,528
    From related orgs
    $0
    Other
    $24,984
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,528
    Bonus
    $0
    Other
    $0
    Deferred
    $12,797
    Nontaxable benefits
    $12,187
    Filer's total
    $156,512

  • Julie Gerbsch

    Executive Director of Development

    Total calculated
    $191,652
    From this org
    $175,253
    From related orgs
    $0
    Other
    $16,399
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,253
    Bonus
    $0
    Other
    $0
    Deferred
    $16,203
    Nontaxable benefits
    $196
    Filer's total
    $191,652

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

The filer's explanations (Part III)

Form 990, Part VII, Section A, Line 5
The following individuals were compensated for full-time services provided to the Foundation by an unrelated organization, Georgia Southern University: Trip Addison $292,124 Julie Gerbesch $191,652 Craig Brown $156,512 Compensation for services provided to the Foundation is determined by Georgia Southern University.
Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
NAME - TRIP C. ADDISON, COMPENSATION FROM UNRELATED ORGANIZATION - 292124.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA SOUTHERN UNIVERSITY, TYPE OF COMPENSATION - SALARIES AND BENEFITS
Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
NAME - CRAIG BROWN, COMPENSATION FROM UNRELATED ORGANIZATION - 156512.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA SOUTHERN UNIVERSITY, TYPE OF COMPENSATION - SALARIES AND BENEFITS
Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
NAME - JULIE GERBSCH, COMPENSATION FROM UNRELATED ORGANIZATION - 191652.000000, NAME OF UNRELATED ORGANIZATION - GEORGIA SOUTHERN UNIVERSITY, TYPE OF COMPENSATION - SALARIES AND BENEFITS

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 Southern University

    $7,072,363

    Operational Support

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.

  • GEORGIA SOUTHERN UNIVERSITY FOUNDATION REAL ESTATE LLC

    REAL ESTATE HOLDING COMPANY · GA · income $0 · assets $2,493

    Directly controlled by GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC

  • GEORGIA SOUTHERN UNIVERSITY FOUNDATION REAL ESTATE HOLDINGS LLC

    REAL ESTATE HOLDING COMPANY · GA · income $0 · assets $148,663

    Directly controlled by GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC

  • GEORGIA SOUTHERN UNIVERSITY FOUNDATION BOTANICAL GARDENS REAL ESTATE LLC

    REAL ESTATE HOLDING COMPANY · GA · income $0 · assets $741,566

    Directly controlled by GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC

  • GEORGIA SOUTHERN UNIVERSITY FOUNDATION GUYTON REAL ESTATE LLC

    REAL ESTATE HOLDING COMPANY · GA · income $0 · assets $495,322

    Directly controlled by GEORGIA SOUTHERN UNIVERSITY FOUNDATION INC

Provenance

Return type
form_990
Tax year
2024
Filed
27 April 2026
IRS schema version
2024v5.1
Source object
202611179349300236

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