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← GEORGIA REGENTS REAL ESTATE CORPORATION

Form 990 for tax year 2024

Filed by GEORGIA REGENTS REAL ESTATE CORPORATION.

Totals

Total revenue
$1,736,352
Total expenses
$228,500
Contributions and grants received
$0
Grants paid
$8,667
Program service revenue
$0
Investment income
$498,950
Other revenue
$1,237,402
Total assets, end of year
$20,630,712
Total liabilities, end of year
$12,808,711
Net assets or fund balances, end of year
$7,822,001
Program services expenses (Part IX)
$49,605
Management and general expenses
$178,895
Fundraising expenses
$0
Program service expenses (Part III)
$49,605

Program services were 21.7% 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.

  • 3 · Investment income

    total $498,950 · excluded $498,950

  • 6a · Gross rents

    real property $3,889,135

  • 6b · Less rental expenses

    real property $2,651,733

  • 6c · Rental income or loss

    real property $1,237,402

  • 6d · Net rental income or loss

    total $1,237,402 · related or exempt $1,237,402

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,667 · program services $8,667

  • 11b · Fees: legal

    total $38,998 · program services $38,998

  • 11c · Fees: accounting

    total $49,486 · management and general $49,486

  • 13 · Office expenses

    total $2,430 · program services $1,940 · management and general $490

  • 20 · Interest

    total $1,655 · management and general $1,655

  • 23 · Insurance

    total $99,026 · management and general $99,026

  • 24a · Other expenses: PENALTIES

    total $19,910 · management and general $19,910

  • 24b · Other expenses: SUBSCRIPTIONS

    total $8,328 · management and general $8,328

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,517,655 · end of year $7,261,470

  • 4 · Accounts receivable

    beginning of year $165,057 · end of year $62,333

  • 9 · Prepaid expenses and deferred charges

    beginning of year $54,974 · end of year $55,680

  • 15 · Other assets

    beginning of year $19,277,837 · end of year $13,251,229

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,987 · end of year $5,990

  • 19 · Deferred revenue

    beginning of year $56,351 · end of year $73,111

  • 25 · Other liabilities

    beginning of year $18,618,036 · end of year $12,729,610

  • 27 · Net assets without donor restrictions

    beginning of year $6,314,149 · end of year $7,822,001

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY AS A SUPPORTING ORGANIZATION TO AND FOR THE BENEFIT OF AUGUSTA UNIVERSITY, AN INSTRUMENTALITY OF THE UNIVERSITY SYSTEM OF GEORGIA, AND TO MANAGE REAL ESTATE ASSETS AND TO CREATE AND ADMINISTER COMMERCIAL REVENUE IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND CLINICAL MISSION OF AUGUSTA UNIVERSITY.

Activities or mission (Part I)

THE CORPORATION SUPPORTS AUGUSTA UNIVERSITY AND ITS EDUCATIONAL, RESEARCH, AND CLINICAL MISSION THROUGH MANAGING REAL ESTATE ASSETS AND ADMINISTERING COMMERICAL REVENUE.

  • MANAGE REAL ESTATE ASSETS AND TO CREATE AND ADMINISTER COMMERCIAL REVENUE IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND CLINICAL MISSION OF AUGUSTA UNIVERSITY.

    Expenses $49,605 · Grants $8,667 · Revenue $1,237,402

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Russell Keen

    CHAIRMAN

    Total calculated
    $532,933
    From this org
    $0
    From related orgs
    $532,933
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $509,183 related
    Bonus
    $0 + $2,100 related
    Other
    $0 + $21,650 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $532,933 related

  • Kristina Baggott

    VICE CHAIRMAN

    Total calculated
    $163,848
    From this org
    $0
    From related orgs
    $163,848
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,848 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $163,848 related

  • Yvonne Turner

    TREASURER

    Total calculated
    $451,328
    From this org
    $0
    From related orgs
    $451,328
    Other
    $0
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $451,328 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $451,328 related

  • Chris Melcher

    SECRETARY

    Total calculated
    $268,153
    From this org
    $0
    From related orgs
    $268,153
    Other
    $0
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,153 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $268,153 related

  • Stephen Wertz

    VP FOR FOUNDATIONS AND CEO, AU FOUNDATIONS

    Total calculated
    $197,199
    From this org
    $0
    From related orgs
    $197,199
    Other
    $0
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,199 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $197,199 related

  • Mildred Garmon

    FORMER CFO

    Total calculated
    $202,640
    From this org
    $0
    From related orgs
    $202,640
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,755 related
    Bonus
    $0
    Other
    $0 + $32,885 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $202,640 related

  • Michael Shaffer

    FORMER EMPLOYEE

    Total calculated
    $318,505
    From this org
    $0
    From related orgs
    $318,505
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $318,505 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $318,505 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

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202610149349301921

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