Form 990 for tax year 2022

Totals

Total revenue

$3,585,231

Total expenses

$1,705,188

Contributions and grants received

$3,397,601

Grants paid

$1,623,094

Program service revenue

$40,000

Investment income

$145,288

Other revenue

$2,342

Total assets, end of year

$22,423,240

Total liabilities, end of year

$329,933

Net assets or fund balances, end of year

$22,093,307

Program services expenses (Part IX)

$1,623,094

Management and general expenses

$70,729

Fundraising expenses

$11,365

Program service expenses (Part III)

$1,623,094

Program services were 95.2% 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.

Mission and programs · 2022

• Academic Scholarship: Merit scholarships and targeted academic incentives are important tools in recruitment and retention of top notch students. The Foundation is committeed to continuing awards of full or partial scholarships at meaningful funding levels to five percent of more of total enrollment. To attract and retain outstanding students, the Foundation will continue to consider innovative scholarship and support programs such as the W. Kantor International Scholars, the Brenda and Mac Nease Foundation scholarships, and the Hites / Dinos Scholarships. The majority of the Foundation's sixty endowment funds support scholarships. In the 2021-2022 Academic year the Foundation made 1,178 scholarship awards to approximately 776 students.

  Expenses $591,186 · Grants $591,186

• Academic Programming: Quality faculty are the cornerstone of higher education. The College's ability to recruit and retain outstanding academic talent ensures its status in and contributions to higher education. With shrinking public funds and increasing performance demands, the Foundation secures funding to support faculty learning, research, scholarship and innovation. Currently there are thirty-seven diverse funds maintained for these purposes. These funds support all educational programs at the College and most notably in 2022, Nursing Education, Nursing Clinical Assistants, The Lucas Center for Entrpreneurshp, and Cyber-Security. The Foundation seeks to establish new sources of faculty support annually and works to commit support to reach a range of 10% to 20% of the annual budget of the Foundation.

  Expenses $586,702 · Grants $586,702

• Campus Programming/Student Life including Athletics and General Operations: The college experience is heightened through quality extra-and co-curricular activities. The Foundation sustains arts and cultural experiences, lecture series, social gatherings, and career development opportunities that serve to expand the horizons of students, faculty and staff, and to provide enrichment for the community at large. Campus Programming / Student Life funds include: The Coastal Georgia Minority Outreach Program, Let's Talk Coastal, the Theatre fund, Veteran Funds, a Campus Pantry and a Student Publication fund (Seaswell's). Athletic funds include support for the Athletic Department, Athletic scholarships and support for the eight inter-scholastic college sports teams. While cultivating significant named giving, the Foundation's goal is at least 20% of the annual budget for campus programming/student life and athletic programming. The Foundation also supports general operations expenses which should be under 10% of the annual budget.

  Expenses $336,131 · Grants $336,131

• Other Program Services: Housing/Capital Expansion: Student housing and additional instructional facilities remain critical for the College's expansion and growth. The Foundation looks to support new and improved facilities and the future phases of student housing. Currently the Foundation owns and operates Coastal Place Apartments, which is a 132 student off-campus housing unit in conjuction with the College's residential housing program. There are various naming opportunities through capital donations for new and existing campus buildings and infrastructure (e.g., walkways, water features, laboratories, student meeting areas) that can be targeted for future solicitations.

  Expenses $109,075 · Grants $109,075 · Revenue $40,000

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

Listed in Part VII

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.

Grants on this return

• The College of Coastal Georgia

  $586,702

  Academic Programming

• The College of Coastal Georgia

  $269,114

  Athletic Programming/ Facilities

• The College of Coastal Georgia

  $116,748

  College Operations

• The College of Coastal Georgia

  $42,643

  Housing / Capital Expansion

• The College of Coastal Georgia

  $16,701

  Campus Programming / Student Life

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.

Provenance

Return type

form_990

Tax year

2022

Filed

19 September 2023

IRS schema version

2022v5.0

Source object

202312999349302256

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