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← KENNESAW STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2022

Filed by KENNESAW STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$59,128,402
Total expenses
$52,901,421
Contributions and grants received
$19,718,981
Grants paid
$18,152,600
Program service revenue
$36,850,844
Investment income
$2,613,315
Other revenue
-$54,738
Total assets, end of year
$500,639,088
Total liabilities, end of year
$335,780,075
Net assets or fund balances, end of year
$164,859,013
Program services expenses (Part IX)
$51,091,147
Management and general expenses
$1,570,187
Fundraising expenses
$240,087
Program service expenses (Part III)
$51,091,147

Program services were 96.6% 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

    $438,674

  • 1f · All other contributions, gifts and grants

    $19,280,307

  • 1g · Noncash contributions included above

    $625,330

  • 2a · Program service revenue: LEASING INCOME

    total $36,476,719 · related or exempt $36,476,719

  • 2b · Program service revenue: MANAGEMENT FEE INCOME

    total $374,125 · related or exempt $374,125

  • 3 · Investment income

    total $2,829,294 · excluded $2,829,294

  • 7a · Gross sales of assets other than inventory

    securities $30,179,747

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

    securities $30,395,726

  • 7c · Gain or loss

    securities -$215,979

  • 7d · Net gain or loss

    total -$215,979 · excluded -$215,979

  • 8a · Fundraising events: gross income

    $108,393

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

    $438,674

  • 8b · Fundraising events: direct expenses

    $163,131

  • 8c · Net income from fundraising events

    total -$54,738 · excluded -$54,738

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,152,600 · program services $18,152,600

  • 11c · Fees: accounting

    total $1,431,763 · program services $1,145,408 · management and general $231,941 · fundraising $54,414

  • 11f · Fees: investment management

    total $269,560 · management and general $269,560

  • 11g · Fees: other

    total $35,477 · program services $7,357 · management and general $22,970 · fundraising $5,150

  • 12 · Advertising and promotion

    total $39,672 · program services $39,672

  • 13 · Office expenses

    total $569,811 · program services $491,579 · management and general $29,401 · fundraising $48,831

  • 14 · Information technology

    total $158,994 · program services $104,549 · management and general $53,845 · fundraising $600

  • 16 · Occupancy

    total $3,078,738 · program services $3,020,223 · management and general $55,087 · fundraising $3,428

  • 17 · Travel

    total $297,220 · program services $262,405 · management and general $5,553 · fundraising $29,262

  • 19 · Conferences, conventions and meetings

    total $1,294,467 · program services $1,212,781 · management and general $65,483 · fundraising $16,203

  • 20 · Interest

    total $11,128,060 · program services $11,128,060

  • 22 · Depreciation, depletion and amortization

    total $5,601,194 · program services $5,601,194

  • 24a · Other expenses: RENTAL OPERATIONS

    total $6,030,326 · program services $6,030,326

  • 24b · Other expenses: SHARED SERVICES

    total $3,908,456 · program services $3,081,586 · management and general $826,870

  • 24c · Other expenses: PROMOTION AND DEVELOPME

    total $767,566 · program services $722,791 · management and general $5,076 · fundraising $39,699

  • 24d · Other expenses: DUES AND PROFESSIONAL M

    total $109,330 · program services $90,616 · management and general $607 · fundraising $18,107

  • 24e · All other expenses

    total $28,187 · management and general $3,794 · fundraising $24,393

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $25,946,901 · end of year $28,850,632

  • 3 · Pledges and grants receivable

    beginning of year $15,642,424 · end of year $14,620,519

  • 4 · Accounts receivable

    beginning of year $677,307 · end of year $1,397,549

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,360 · end of year $38,046

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

    $155,558,261

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

    $86,808,639

  • 10c · Land, buildings and equipment, net

    beginning of year $106,718,484 · end of year $68,749,622

  • 11 · Investments: publicly traded securities

    beginning of year $23,032,673 · end of year $21,007,160

  • 12 · Investments: other securities

    beginning of year $83,643,936 · end of year $100,069,467

  • 15 · Other assets

    beginning of year $270,963,255 · end of year $265,906,093

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,195,742 · end of year $2,807,534

  • 19 · Deferred revenue

    beginning of year $2,629,145 · end of year $572,507

  • 20 · Tax-exempt bond liabilities

    beginning of year $353,722,543 · end of year $320,816,969

  • 25 · Other liabilities

    beginning of year $15,573,588 · end of year $11,583,065

  • 27 · Net assets without donor restrictions

    beginning of year $25,794,078 · end of year $24,420,779

  • 28 · Net assets with donor restrictions

    beginning of year $122,747,244 · end of year $140,438,234

Mission and programs · 2022

Mission

THE KENNESAW STATE UNIVERSITY FOUNDATION'S MISSION IS TO BE AN ADVOCATE FOR THE UNIVERSITY, AND TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF KENNESAW STATE UNIVERSITY.

Activities or mission (Part I)

TO SERVE AS AN ADVOCATE FOR KENNESAW STATE UNIVERSITY, AND TO RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN SUPPORT OF THE UNIVERSITY.

  • LEASING OPERATIONS - PROVIDE STUDENT HOUSING, PARKING, OFFICE, DINING AND SPORTS AND RECREATION FACILITIES TO THE UNIVERSITY.

    Expenses $28,521,055 · Revenue $36,476,719

  • TO FUND KENNESAW STATE UNIVERSITY ACADEMIC PROGRAMS AND SCHOLARSHIPS.

    Expenses $9,857,315 · Grants $7,493,753

  • SUPPORT OF UNIVERSITY PROGRAMS.

    Expenses $11,991,749 · Grants $10,644,967

  • Expenses $721,028 · Grants $13,880 · Revenue $374,125

As filed on the 2022 return.

Listed in Part VII

  • Mr Steven Cadranel

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Mr Theodore L Parrish

    VICE CHAIR - CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • Mrs Jennifer Britt Fleck

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mr Andre Schnabl

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Mr Trenton D Turk

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ms Angie M Alexander

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Luis Arriaga

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Richard A Bennett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Shailesh Bettadapur

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Sarah Boone

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Ron L Braund

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr R Allen Brooks

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Walton C Bryde

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Elizabeth W Camp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Mel C Clemmons

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael J Coles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Richard Cox

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Don E Davidson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Stephen W Dils

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr James P Dunn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Mickey Dunn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Connie L Engel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Kirk M Gadebusch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Reuel Rick E Hamilton III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Joesph J Handy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr William M Hayes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Frank M Howard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr I Barry Hyman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Don Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Douglas E Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Julie Kimball

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Lawrence P Kraska

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Rob Leven

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Shepherd D Long

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Ben L Looper

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Beth Lowry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Caric Martin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr David McKoy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Judith Moen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Siddhartha Mookerji

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Veronica C Morrissette

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Alana Mueller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Francisco Borja Olano

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr James Chris Pike

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Deborah Pike

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Bob M Prillaman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Ivan Pulinkala

    TRUSTEE / UNIVERSITY PROVOST

    Total calculated
    $420,293
    From this org
    $0
    From related orgs
    $344,488
    Other
    $75,805
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $344,488 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $69,182 related
    Nontaxable benefits
    $0 + $6,623 related
    Filer's total
    $0 + $420,293 related

  • Mr Michael S Quinlan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Norman J Radow

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Candice L Saunders

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Douglas Shore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Richard S Siegel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Robyn Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr J Larry Stevens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Valery Voyles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr David R Walens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Robert K Walsh Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Catherine Land Waters

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Tim Wilkerson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Kathy Schwaig

    TRUSTEE/PRESIDENT

    Total calculated
    $528,078
    From this org
    $0
    From related orgs
    $474,252
    Other
    $53,826
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $433,052 related
    Bonus
    $0
    Other
    $0 + $41,200 related
    Deferred
    $0 + $42,984 related
    Nontaxable benefits
    $0 + $10,842 related
    Filer's total
    $0 + $528,078 related

  • Mr Lance E Burchett

    CEO

    Total calculated
    $296,885
    From this org
    $0
    From related orgs
    $256,748
    Other
    $40,137
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,964 related
    Bonus
    $0
    Other
    $0 + $8,784 related
    Deferred
    $0 + $23,447 related
    Nontaxable benefits
    $0 + $16,690 related
    Filer's total
    $0 + $296,885 related

  • Mr Stephen Bridges

    CFO

    Total calculated
    $222,551
    From this org
    $0
    From related orgs
    $170,167
    Other
    $52,384
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $170,167 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,944 related
    Nontaxable benefits
    $0 + $17,440 related
    Filer's total
    $0 + $222,551 related

  • Ms Valerie Patrick

    FOUNDATION CONTROLLER

    Total calculated
    $153,664
    From this org
    $0
    From related orgs
    $128,480
    Other
    $25,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $128,480 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,692 related
    Nontaxable benefits
    $0 + $12,492 related
    Filer's total
    $0 + $153,664 related

  • Ms Janelle Funk

    FINANCE DIRECTOR

    Total calculated
    $175,659
    From this org
    $0
    From related orgs
    $131,729
    Other
    $43,930
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,729 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $38,057 related
    Nontaxable benefits
    $0 + $5,873 related
    Filer's total
    $0 + $175,659 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)

SCHEDULE J, PART I:
KENNESAW STATE UNIVERSITY FOUNDATION, INC. DOES NOT HAVE ANY W-2 EMPLOYEES. ALL EMPLOYEES ARE EMPLOYED BY REPORTING AGENT, KENNESAW STATE UNIVERSITY, EIN 58-0968786, A RELATED ORGANIZATION. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR A PORTION OF THE COMPENSATION OF ALL EMPLOYEES PROVIDING SERVICES 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

  • KENNESAW STATE UNIVERSITY

    $4,534,292

    TO PROVIDE MONIES TO KSU FOR STUDENT SCHOLARSHIPS

  • KENNESAW STATE UNIVERSITY

    $2,959,461

    ACADEMIC PROGRAMS AND DEAN SUPPORT

  • KENNESAW STATE UNIVERSITY

    $803,396

    OTHER UNIVERSITY SUPPORT

  • KENNESAW STATE UNIVERSITY

    $13,880

    UNIVERSITY EVENTS & PROGRAMS

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.

  • KENNESAW STATE UNIVERSITY

    STATE UNIVERSITY · GA

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202431309349302548

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