← ATLANTA TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2024

Filed by ATLANTA TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue: $2,874,820
Total expenses: $136,194
Contributions and grants received: $2,832,933
Grants paid: $120,438
Program service revenue: $0
Investment income: $39,182
Other revenue: $2,705
Total assets, end of year: $10,887,692
Total liabilities, end of year: $1,119,617
Net assets or fund balances, end of year: $9,768,075
Program services expenses (Part IX): $126,412
Management and general expenses: $9,782
Fundraising expenses: $0
Program service expenses (Part III): $126,412

Program services were 92.8% 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.

1c · Fundraising events

$20,200
1f · All other contributions, gifts and grants

$2,812,733
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $7,446 · excluded $7,446
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $31,736
7c · Gain or loss

securities $31,736 · other assets $0
7d · Net gain or loss

total $31,736 · excluded $31,736
8a · Fundraising events: gross income

$5,050
8a · Fundraising events: contributions included on line 1c

$20,200
8b · Fundraising events: direct expenses

$2,345
8c · Net income from fundraising events

total $2,705 · excluded $2,705
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $120,438 · program services $120,438
4 · Benefits paid to or for members

total $0 · program services $0
11c · Fees: accounting

total $750 · management and general $750
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $1,150 · program services $1,150
13 · Office expenses

total $2,779 · program services $732 · management and general $2,047
17 · Travel

total $3,500 · program services $3,500
19 · Conferences, conventions and meetings

total $1,150 · management and general $1,150
20 · Interest

total $5,458 · management and general $5,458
23 · Insurance

total $377 · management and general $377
24a · Other expenses: DUES, FEES, AND SUBSCRIPTIONS

total $592 · program services $592
24e · All other expenses

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $3,042,408 · end of year $2,912,767
2 · Savings and temporary cash investments

beginning of year $0 · end of year $1,194,437
3 · Pledges and grants receivable

beginning of year $46,000 · end of year $1,518,000
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 $3,000 · end of year $3,000
10a · Land, buildings and equipment: cost or other basis

$1,582,166
10b · Land, buildings and equipment: accumulated depreciation

$115,203
10c · Land, buildings and equipment, net

beginning of year $1,466,963 · end of year $1,466,963
11 · Investments: publicly traded securities

beginning of year $3,496,232 · end of year $3,792,525
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $196 · end of year $4,605
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 $1,122,500 · end of year $1,115,012
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $1,337,997 · end of year $1,218,829
28 · Net assets with donor restrictions

beginning of year $5,593,910 · end of year $8,549,246

Mission and programs · 2024

Mission

TO SUPPORT ATLANTA TECHNICAL COLLEGE STUDENTS THROUGH TUITION SCHOLARSHIPS AND OTHER CONTRIBUTIONS.

Activities or mission (Part I)

THE ATLANTA TECHNICAL COLLEGE FOUNDATION WAS FOUNDED IN 1999 UNDER THE LEADERSHIP OF CHAIRPERSONS JOSEPH JOHNSON AND CAROLYN YOUNG. A 501(C)(3) NON-PROFIT, THE ATLANTA TECHNICAL COLLEGE FOUNDATION'S MISSION IS TO PROVIDE SUPPORT TO ATLANTA TECHNICAL COLLEGE AND THE PROGRAMS AND ACTIVITIES CARRIED OUT BY THE COLLEGE. ITS PURPOSE IS TO ACQUIRE, RETAIN, INVEST AND ADMINISTER FUNDS EXCLUSIVELY FOR THE BENEFIT OF ATLANTA TECHNICAL COLLEGE. SINCE ITS INCEPTION, THE ATLANTA TECHNICAL COLLEGE FOUNDATION HAS FOCUSED ON THE MAJOR GOALS OF RESOURCE DEVELOPMENT, RELATIONSHIP BUILDING, AND FINANCIAL MANAGEMENT OF RESOURCES.

THE ACTIVITIES OF THE ATLANTA TECHNICAL COLLEGE FOUNDATION PROVIDED HANDS-ON TRAINING OPPORTUNITIES TO A STUDENT SIZE OF OVER 4000. NEEDS-BASED AND ACADEMIC-BASED SCHOLARSHIPS ARE GIVEN EACH QUARTER TO STUDENTS TO SUPPLEMENT EXPENSES RELATED TO THE COST OF THEIR ATTENDANCE AT ATC. THE FOUNDATION PROVIDES ATC STUDENTS WITH IMMEDIATE FUNDING TO MEET UNUSUAL AND UNEXPECTED EXPENSES BEYOND THE ORDINARY EDUCATIONAL EXPENSES MET THROUGH FINANCIAL AID. THESE TYPES OF EXPENSES (E.G. TRANSPORTATION, MEDICAL, AND CHILD CARE) OFTEN SERVE AS BARRIERS TO GRADUATION.

Expenses $126,412 · Grants $120,438

As filed on the 2024 return.

Listed in Part VII

Detra Reid

Treasurer

Total calculated

$0

Hours/week

4
Michael Watson II

Chair

Total calculated

$0

Hours/week

8
Allison Howard

Member

Total calculated

$0

Hours/week

1
Ann Cramer

Member

Total calculated

$0

Hours/week

1
Dennis McGourik

Member

Total calculated

$0

Hours/week

1
Erika M Smith

Member

Total calculated

$0

Hours/week

1
Kevin Smith

Member

Total calculated

$0

Hours/week

1
Malika Wilkins

Member

Total calculated

$0

Hours/week

1
Maurice Jenkins Jr

Member

Total calculated

$0

Hours/week

1
Nick McCarthy

Member

Total calculated

$0

Hours/week

1
Shelley Lamar

Member

Total calculated

$0

Hours/week

1
Tai Roberson

Member

Total calculated

$0

Hours/week

1
Victor Ragland

Member

Total calculated

$0

Hours/week

1
Shannon Georgecink

Executive Director, outgoing

Total calculated

$114,535

From this org

$70,000

From related orgs

$0

Other

$44,535

Hours/week

8
Staphea Campbell

Executive Director, incoming

Total calculated

$0

Hours/week

8

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.

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)

Schedule J, Part II: SHANNON GEORGECINK, EXECUTIVE DIRECTOR, SPENDS APPROXIMATELY 20% OF TIME WORKING FOR THE ATLANTA TECHNICAL COLLEGE FOUNDATION AND IS COMPENSATED BY AN UNRELATED ENTITY, THE ATLANTA TECHNICAL COLLEGE, FOR SERVICES PROVIDED TO THE FOUNDATION. IN 2024, SHANNON GEORGECINK RECEIVED $114,535 IN COMPENSATION AND BENEFITS FOR SERVICES PROVIDED TO THE FOUNDATION.

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.

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 May 2026
IRS schema version: 2024v5.1
Source object: 202601359349315515

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