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Nonprofiteer
← GEORGIA TECH FOUNDATION FUNDING CORPORATION

Form 990 for tax year 2022

Filed by GEORGIA TECH FOUNDATION FUNDING CORPORATION.

Totals

Total revenue
$537,181
Total expenses
$541,134
Contributions and grants received
$537,181
Grants paid
$3,953
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$525,420
Management and general expenses
$15,714
Fundraising expenses
$0
Program service expenses (Part III)
$525,420

Program services were 97.1% 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.

  • 1d · Related organizations

    $537,181

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,953 · program services $3,953

  • 11b · Fees: legal

    total $2,354 · management and general $2,354

  • 13 · Office expenses

    total $13,360 · management and general $13,360

  • 20 · Interest

    total $521,467 · program services $521,467

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,953 · end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $12,881,604 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $12,881,604 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,953 · end of year $0

Mission and programs · 2022

Mission

TO ASSIST THE GEORGIA TECH FOUNDATION IN THE ACQUISITION OF REAL ESTATE OR OTHER PROJECTS FOR THE SUPPORT OF THE GEORGIA TECH INSTITUTE OF TECHNOLOGY

Activities or mission (Part I)

SEE SCHEDULE O.TO ASSIST THE GEORGIA TECH FOUNDATION IN THE ACQUISITION OF REAL ESTATE OR OTHER PROJECTS FOR THE SUPPORT OF THE GEORGIA TECH INSTITUTE OF TECHNOLOGY.

  • GRANTS AND ALLOCATIONS MADE TO THE GEORGIA TECH FOUNDATION, INC. TO BE USED FOR RENOVATION AND CONSTRUCTION.

    Expenses $525,420 · Grants $3,953

As filed on the 2022 return.

Listed in Part VII

  • Gregory J Owens

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • James R Borders

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Thomas M Holder

    VICE CHAIR/CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Joseph W Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mark C Teixeira

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Al Trujillo

    PRESIDENT

    Total calculated
    $678,624
    From this org
    $0
    From related orgs
    $624,400
    Other
    $54,224
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $456,400 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $18,000 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $23,724 related
    Filer's total
    $0 + $678,624 related

  • Mark V Delorenzo

    SECRETARY

    Total calculated
    $429,235
    From this org
    $0
    From related orgs
    $374,832
    Other
    $54,403
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,832 related
    Bonus
    $0 + $65,000 related
    Other
    $0
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $23,903 related
    Filer's total
    $0 + $429,235 related

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)

PART I, LINE 3
GEORGIA TECH FOUNDATION FUNDING CORPORATION RELIED UPON GEORGIA TECH FOUNDATION, INC., A RELATED ORGANIZATION, TO ESTABLISH THE EXECUTIVE COMPENSATION, ALL OF WHICH IS PAID BY GEORGIA TECH FOUNDATION, INC. GEORGIA TECH FOUNDATION INC. RELIED UPON SEVERAL OF THE METHODS INDICATED ON SCHEDULE J, PART 1, LINE 3. ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE VOLUNTEERS FOR GEORGIA TECH FOUNDATION FUNDING CORPORATION. ONLY THE PRESIDENT AND SECRETARY OF GEORGIA TECH FOUNDATION FUNDING CORPORATION RECEIVED COMPENSATION FOR SERVICES PROVIDED TO GEORGIA TECH FOUNDATION, INC.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GEORGIA TECH CHARITABLE LIFE INC

    C · INSURANCE SERVICE · GA

    Directly controlled by GTF

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202421369349307927

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