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← WESLEY FOUNDATION OF THE UNIVERSITY OF GEORGIA INC

Form 990 for tax year 2024

Filed by WESLEY FOUNDATION OF THE UNIVERSITY OF GEORGIA INC.

Totals

Total revenue
$2,587,643
Total expenses
$2,307,562
Contributions and grants received
$2,482,852
Grants paid
$0
Program service revenue
$29,663
Investment income
$33,990
Other revenue
$41,138
Total assets, end of year
$2,612,547
Total liabilities, end of year
$150,000
Net assets or fund balances, end of year
$2,462,547
Program services expenses (Part IX)
$1,618,406
Management and general expenses
$601,986
Fundraising expenses
$87,170
Program service expenses (Part III)
$1,618,406

Program services were 70.1% 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.

  • 1a · Federated campaigns

    $511,060

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $5,000

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,966,792

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Freshman Retreat

    total $19,453 · related or exempt $19,453 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Wesley Retreat

    total $10,210 · related or exempt $10,210 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $33,990 · related or exempt $33,990 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $43,530 · personal property $0

  • 6b · Less rental expenses

    real property $6,131 · personal property $0

  • 6c · Rental income or loss

    real property $37,399 · personal property $0

  • 6d · Net rental income or loss

    total $37,399 · related or exempt $0 · unrelated business $16,860 · excluded $20,539

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $10,506

  • 10b · Cost of goods sold

    $6,767

  • 10c · Net income from sales of inventory

    total $3,739 · related or exempt $3,739 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

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

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $75,000 · program services $0 · management and general $75,000 · fundraising $0

  • 8 · Pension plan contributions

    total $38,060 · program services $0 · management and general $38,060 · fundraising $0

  • 9 · Other employee benefits

    total $41,000 · program services $0 · management and general $41,000 · fundraising $0

  • 10 · Payroll taxes

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

  • 11a · Fees: management

    total $1,079,810 · program services $811,844 · management and general $267,966 · fundraising $0

  • 11b · Fees: legal

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

  • 11c · Fees: accounting

    total $30,000 · program services $0 · management and general $30,000 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $56,501 · fundraising $56,501

  • 11f · Fees: investment management

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

  • 11g · Fees: other

    total $2,160 · program services $2,160 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $36,948 · program services $0 · management and general $6,279 · fundraising $30,669

  • 13 · Office expenses

    total $110,331 · program services $10,702 · management and general $99,629 · fundraising $0

  • 14 · Information technology

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

  • 15 · Royalties

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

  • 16 · Occupancy

    total $41,630 · program services $33,005 · management and general $8,625 · fundraising $0

  • 17 · Travel

    total $612,694 · program services $612,694 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $148,001 · program services $148,001 · management and general $0 · fundraising $0

  • 20 · Interest

    total $7,692 · program services $0 · management and general $7,692 · fundraising $0

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $12,383 · program services $0 · management and general $12,383 · fundraising $0

  • 23 · Insurance

    total $15,352 · program services $0 · management and general $15,352 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $842,763 · end of year $843,662

  • 2 · Savings and temporary cash investments

    beginning of year $1,287,535 · end of year $531,673

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $1,986,082

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

    $756,374

  • 10c · Land, buildings and equipment, net

    beginning of year $190,000 · end of year $1,229,708

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $12,168 · end of year $7,504

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $150,000 · end of year $150,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,182,466 · end of year $2,462,547

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

The Foundations purpose is for Methodist outreach to students at the University of Georgia even those who do not identify as Methodist. The Foundation operates a student center and carries out these primary activities: Weekly services of worship biblical study and personal ministry as well as weekly student mentorship including local outreach with K-12 students.

Activities or mission (Part I)

The UGA Wesley Foundation exists to enable students to encounter God and become disciples of Jesus. - Weekly services of worship teaching and personal ministry. - Weekly mentoring relationships with students for both personal spiritual growth and leadership development. - Ongoing mentoring relationships with children in low-income housing communities. - Providing student leaders for local churches and ministries. - Mission teams working in specifically identified locations locally within the United States and internationally providing for food hunger needs construction assistance and personal ministry.

  • Programs related to weekly worship services biblical studies personal ministry local outreach and US and global mission trips.

    Expenses $1,618,406 · Revenue $67,392

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

Listed in Part VII

  • Robert Beckwith

    President

    Total calculated
    $80,900
    From this org
    $80,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lindsay Atkinson

    Secretary

    Total calculated
    $41,634
    From this org
    $41,634
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
21 May 2025
IRS schema version
2024v5.1
Source object
202501419349300500

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