Form 990 for tax year 2022
Filed by FORT VALLEY STATE UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $4,424,406
- Total expenses
- $4,323,449
- Contributions and grants received
- $1,816,960
- Grants paid
- $1,944,627
- Program service revenue
- $1,391,589
- Investment income
- $224,299
- Other revenue
- $991,558
- Total assets, end of year
- $35,228,716
- Total liabilities, end of year
- $17,818,536
- Net assets or fund balances, end of year
- $17,410,180
- Program services expenses (Part IX)
- $2,714,013
- Management and general expenses
- $1,609,436
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,714,013
Program services were 62.8% 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.
-
1f · All other contributions, gifts and grants
$1,816,960
-
2a · Program service revenue: STUDENT HOUSING
total $1,391,589 · related or exempt $1,391,589
-
3 · Investment income
total $224,299 · excluded $224,299
-
6a · Gross rents
real property $6,296
-
6c · Rental income or loss
real property $6,296
-
6d · Net rental income or loss
total $6,296 · excluded $6,296
-
11a · Other revenue: REAL/UNREAL. GAINS (LOSSES)
total $985,262 · excluded $985,262
-
11e · Other revenue, total
$985,262
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,944,627 · program services $1,944,627
-
11f · Fees: investment management
total $117,657 · program services $117,657
-
12 · Advertising and promotion
total $20,915 · management and general $20,915
-
13 · Office expenses
total $56,210 · management and general $56,210
-
16 · Occupancy
total $651,729 · program services $651,729
-
17 · Travel
total $100,990 · management and general $100,990
-
19 · Conferences, conventions and meetings
total $176,640 · management and general $176,640
-
24a · Other expenses: SERVICES AND PRODUCTS
total $1,254,681 · management and general $1,254,681
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,236,855 · end of year $2,641,517
-
4 · Accounts receivable
beginning of year $10,000 · end of year $10,000
-
10a · Land, buildings and equipment: cost or other basis
$2,104,720
-
10b · Land, buildings and equipment: accumulated depreciation
$917,053
-
10c · Land, buildings and equipment, net
beginning of year $1,225,823 · end of year $1,187,667
-
11 · Investments: publicly traded securities
beginning of year $11,877,046 · end of year $12,311,637
-
15 · Other assets
beginning of year $19,007,711 · end of year $19,077,895
-
17 · Accounts payable and accrued expenses
beginning of year $1,115,425 · end of year $1,523,219
-
20 · Tax-exempt bond liabilities
beginning of year $16,679,300 · end of year $16,064,479
-
23 · Secured mortgages and notes payable
beginning of year $94,013 · end of year $75,903
-
25 · Other liabilities
beginning of year $159,474 · end of year $154,935
-
27 · Net assets without donor restrictions
beginning of year $17,309,223 · end of year $17,410,180
Mission and programs · 2022
Mission
THE PURPOSE OF THE FOUNDATION IS TO PROMOTE HIGHER EDUCATION IN THE STATE OF GEORGIA, TO RAISE AND RECEIVE FUNDS FOR THE SUPPORT AND ENHANCEMENT OF THE FORT VALLEY STATE UNIVERSITY (FVSU), AND TO AID FVSU IN ITS DEVELOPMENT AS A LEADING EDUCATIONAL INSTITUTION.
Activities or mission (Part I)
THE PURPOSE OF THE FOUNDATION IS TO PROMOTE HIGHER EDUCATION IN THE STATE OF GEORGIA, TO RAISE AND RECEIVE FUNDS FOR THE SUPPORT AND ENHANCEMENT OF THE FORT VALLEY STATE UNIVERSITY (FVSU), AND TO AID FVSU IN ITS DEVELOPMENT AS A LENDING EDUCATIONAL INSTUTUTION.
-
TO SUPPORT THE ACTIVITIES OF FVSU AND TO PROMOTE HIGHER EDUCATION IN THE STATE OF GEORGIA.
Expenses $2,714,013 · Grants $1,944,627
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Karen WrightKAREN WRIGHT
EXECUTIVE DI
- Total calculated
- $40,976
- From this org
- $0
- From related orgs
- $40,976
- Other
- $0
- Hours/week
- 40
-
Anthony HollomanANTHONY HOLLOMAN
EXECUTIVE DI
- Total calculated
- $122,250
- From this org
- $0
- From related orgs
- $122,250
- Other
- $0
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- not reported + $122,250 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $122,250 related
-
Calvin SmyreCALVIN SMYRE
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Lawrence MarableLAWRENCE MARABLE
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 2
-
Cynthia CarterCYNTHIA CARTER
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Paul JonesPAUL JONES
DIRECTOR
- Total calculated
- $333,076
- From this org
- $0
- From related orgs
- $333,076
- Other
- $0
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- not reported + $333,076 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $333,076 related
-
Patty James-BentleyPATTY JAMES-BENTLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Johnnie BookerJOHNNIE BOOKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Krystal ConnerKRYSTAL CONNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Isaac CrumblyISAAC CRUMBLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Theodore DanielsTHEODORE DANIELS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
David DanzieDAVID DANZIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Angela FussellANGELA FUSSELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gita GarnderGITA GARNDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Rufus GreenRUFUS GREEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Lou Ann GrossLOU ANN GROSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Nicholas Xavier HarrisonNICHOLAS XAVIER HARRISON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Vernard HodgesVERNARD HODGES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kenneth HowardKENNETH HOWARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jarius JonesJARIUS JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gary LeeGARY LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Yewston N Myers IIIYEWSTON N MYERS III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Melvin Doug MorrisMELVIN DOUG MORRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Barbara PalmerBARBARA PALMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Andrew A ReeseANDREW A REESE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gwendolyn ReevesGWENDOLYN REEVES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Charles RobinsonCHARLES ROBINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Hollis TownsHOLLIS TOWNS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Phyllis Kitchens-ThurmondPHYLLIS KITCHENS-THURMOND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
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.
-
FORT VALLEY STATE UNIVERSITY
NA · EDUCATION · GA
Directly controlled by NA
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.
-
FVSUF WILDCAT COMMONS III LLC
DISREGARDE · GA · income $1,391,589 · assets $19,077,895
Directly controlled by FORT VALLE
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202441299349301589
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