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Nonprofiteer
← GEORGIA FOREIGN-TRADE ZONE INC

Form 990 for tax year 2023

Filed by GEORGIA FOREIGN-TRADE ZONE INC.

Totals

Total revenue
$627,476
Total expenses
$658,900
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$610,467
Investment income
$17,009
Other revenue
$0
Total assets, end of year
$1,051,954
Total liabilities, end of year
$7,162
Net assets or fund balances, end of year
$1,044,792
Program services expenses (Part IX)
$171,296
Management and general expenses
$487,604
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 26.0% 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.

  • 2a · Program service revenue: MEMBERSHIP FEES & APPS.

    total $610,467 · related or exempt $610,467

  • 3 · Investment income

    total $17,009 · excluded $17,009

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $242,205 · management and general $242,205

  • 8 · Pension plan contributions

    total $106,935 · management and general $106,935

  • 9 · Other employee benefits

    total $16,251 · management and general $16,251

  • 10 · Payroll taxes

    total $13,321 · management and general $13,321

  • 11b · Fees: legal

    total $7,900 · management and general $7,900

  • 11c · Fees: accounting

    total $14,030 · management and general $14,030

  • 11g · Fees: other

    total $12,237 · management and general $12,237

  • 12 · Advertising and promotion

    total $138,800 · program services $138,800

  • 16 · Occupancy

    total $22,629 · management and general $22,629

  • 17 · Travel

    total $5,401 · management and general $5,401

  • 19 · Conferences, conventions and meetings

    total $958 · management and general $958

  • 23 · Insurance

    total $4,235 · management and general $4,235

  • 24a · Other expenses: CLIENT SERVICES

    total $32,496 · program services $32,496

  • 24b · Other expenses: TECHNICAL SERVICES

    total $28,800 · management and general $28,800

  • 24c · Other expenses: DUES

    total $5,803 · management and general $5,803

  • 24d · Other expenses: PHONE/DATA SERVICES

    total $2,312 · management and general $2,312

  • 24e · All other expenses

    total $4,587 · management and general $4,587

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,519 · end of year $63,160

  • 2 · Savings and temporary cash investments

    beginning of year $1,040,013 · end of year $988,794

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

    $23,081

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

    $23,081

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,316 · end of year $7,162

  • 27 · Net assets without donor restrictions

    beginning of year $876,216 · end of year $844,792

  • 28 · Net assets with donor restrictions

    beginning of year $200,000 · end of year $200,000

Mission and programs · 2023

Mission

THE GEORGIA FOREIGN-TRADE ZONE (GFTZ) SUPPORTS THE CREATION & RETENTION OF JOBS IN GEORGIA BY PROMOTING AND FACILITATING THE USE OF THE FOREIGN-TRADE ZONE PROGRAM. GFTZ ASSISTS EXISTING BUSINESSES IN GEORGIA AND NEW BUSINESSES CONSIDERING LOCATING TO GEORGIA IN OBTAINING FTZ BENEFITS. GFTZ PROVIDES ONGOING SUPPORT TO FTZ OPERATORS TO LOWER OPERATING COSTS BY DEFERRING, REDUCING, AND ELIMINATING THE PAYMENT OF US CUSTOMS DUTIES ON IMPORTED GOODS. GFTZ ENHANCES ECONOMIC OPPORTUNITY WITHIN LOCAL COMMUNITIES AND CONTRIBUTES TO THE OVERALL ECONOMIC DEVELOPMENT OF THE STATE.

  • THE GEORGIA FOREIGN-TRADE ZONE (GFTZ) CONTINUES ITS MISSION OF PROMOTING ECONOMIC DEVELOPMENT IN THE STATE THROUGH USE OF THE FOREIGN-TRADE ZONE PROGRAM. GEORGIA FOREIGN TRADE ZONE SUBMITTED FOUR APPLICATIONS ON BEHALF OF NEW AND EXISTING ZONE USERS. THREE APPLICATIONS WERE APPROVED BY THE U.S. DEPARTMENT OF COMMERCE, FOREIGN TRADE ZONE BOARD IN 2023.

  • THE GEORGIA FOREIGN-TRADE ZONE (GFTZ) CONTINUES ITS MISSION OF PROMOTING ECONOMIC DEVELOPMENT IN THE STATE THROUGH USE OF THE FOREIGN-TRADE ZONE PROGRAM. GEORGIA FOREIGN TRADE ZONE SUBMITTED FOUR APPLICATIONS ON BEHALF OF NEW AND EXISTING ZONE USERS. THREE APPLICATIONS WERE APPROVED BY THE U.S. DEPARTMENT OF COMMERCE, FOREIGN TRADE ZONE BOARD IN 2023.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Julie Brown

    PRESIDENT &

    Total calculated
    $242,205
    From this org
    $242,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,000
    Bonus
    $47,205
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $242,205

  • Joseph Bankoff

    IMMEDIATE PA

    Total calculated
    $0

  • Bob Kosek

    BOARD MEMBER

    Total calculated
    $0

  • David Luckie

    BOARD MEMBER

    Total calculated
    $0

  • Gerald McDowell

    CHAIRMAN

    Total calculated
    $0

  • Misti Martin

    SECRETARY &

    Total calculated
    $0

  • Scott McMurray

    BOARD MEMBER

    Total calculated
    $0

  • Cliff Pyron

    BOARD MEMBER

    Total calculated
    $0

  • Richard Sargent

    BOARD MEMBER

    Total calculated
    $0

  • Myrna White

    BOARD MEMBER

    Total calculated
    $0

  • John Woodward

    VICE CHAIR

    Total calculated
    $0

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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
2023
Filed
15 August 2024
IRS schema version
2023v5.0
Source object
202432499349301773

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