Form 990 for tax year 2022
Filed by GEORGIA TECH RESEARCH CORPORATION.
Totals
- Total revenue
- $431,842,324
- Total expenses
- $418,940,505
- Contributions and grants received
- $4,379,382
- Grants paid
- $9,834,221
- Program service revenue
- $415,300,495
- Investment income
- $1,613,731
- Other revenue
- $10,548,716
- Total assets, end of year
- $331,557,866
- Total liabilities, end of year
- $250,192,274
- Net assets or fund balances, end of year
- $81,365,592
- Program services expenses (Part IX)
- $416,469,111
- Management and general expenses
- $2,471,394
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $416,469,111
Program services were 99.4% 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.
-
1f · All other contributions, gifts and grants
$4,379,382
-
2a · Program service revenue: RESEARCH CONTRACTS
total $415,300,495 · related or exempt $415,300,495
-
3 · Investment income
total $1,612,007 · excluded $1,612,007
-
5 · Royalties
total $3,105,126 · excluded $3,105,126
-
6a · Gross rents
real property $8,341,659
-
6b · Less rental expenses
real property $1,037,527
-
6c · Rental income or loss
real property $7,304,132
-
6d · Net rental income or loss
total $7,304,132 · excluded $7,304,132
-
7a · Gross sales of assets other than inventory
securities $1,724
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $1,724
-
7d · Net gain or loss
total $1,724 · excluded $1,724
-
11a · Other revenue: K-1 INCOME
total $135,284 · unrelated business $135,284
-
11d · All other revenue
total $4,174 · excluded $4,174
-
11e · Other revenue, total
$139,458
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $9,834,221 · program services $9,834,221
-
11b · Fees: legal
total $8,335 · management and general $8,335
-
11c · Fees: accounting
total $109,924 · management and general $109,924
-
11f · Fees: investment management
total $185,495 · management and general $185,495
-
11g · Fees: other
total $392,713,759 · program services $392,623,971 · management and general $89,788
-
13 · Office expenses
total $356,400 · management and general $356,400
-
14 · Information technology
total $155,544 · management and general $155,544
-
15 · Royalties
total $6,566,646 · program services $6,566,646
-
17 · Travel
total $27,247 · management and general $27,247
-
22 · Depreciation, depletion and amortization
total $7,444,273 · program services $7,444,273
-
23 · Insurance
total $314,054 · management and general $314,054
-
24a · Other expenses: SHARED EMPLOYEE EXPENSE
total $1,137,545 · management and general $1,137,545
-
24b · Other expenses: UBI TAX
total $26,848 · management and general $26,848
-
24c · Other expenses: PROFESSIONAL DEVELOPMEN
total $4,200 · management and general $4,200
-
24e · All other expenses
total $56,014 · management and general $56,014
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $120,665,951 · end of year $128,812,265
-
4 · Accounts receivable
beginning of year $87,426,404 · end of year $97,873,964
-
9 · Prepaid expenses and deferred charges
beginning of year $308,760 · end of year $79,956
-
10a · Land, buildings and equipment: cost or other basis
$3,689,636
-
10b · Land, buildings and equipment: accumulated depreciation
$2,963,525
-
10c · Land, buildings and equipment, net
beginning of year $563,275 · end of year $726,111
-
11 · Investments: publicly traded securities
beginning of year $61 · end of year $61
-
13 · Investments: program-related
beginning of year $1,880,377
-
15 · Other assets
beginning of year $119,261,641 · end of year $104,065,509
-
17 · Accounts payable and accrued expenses
beginning of year $46,355,752 · end of year $51,520,347
-
19 · Deferred revenue
beginning of year $94,936,836 · end of year $94,622,751
-
25 · Other liabilities
beginning of year $120,350,108 · end of year $104,049,176
-
27 · Net assets without donor restrictions
beginning of year $63,745,987 · end of year $74,184,281
-
28 · Net assets with donor restrictions
beginning of year $4,717,786 · end of year $7,181,311
Mission and programs · 2022
Mission
THE GEORGIA TECH RESEARCH CORPORATION (GTRC) IS ORGANIZED AND OPERATED TO SUPPORT THE RESEARCH ACTIVITIES OF THE GEORGIA INSTITUTE OF TECHNOLOGY IN THE AREAS OF INNOVATIVE RESEARCH, TECHNICAL ASSISTANCE, AND ECONOMIC DEVELOPMENT.
Activities or mission (Part I)
GEORGIA TECH RESEARCH CORPORATION ADVANCES RESEARCH AND TECHNOLOGICAL DEVELOPMENT AT GEORGIA TECH AS IT CONTINUALLY SEEKS TO ADVANCE SOCIETY AND THE GLOBAL COMPETITIVENESS OF GEORGIA AND THE NATION. GTRC SUPPORTS AND PROMOTES RESEARCH THROUGH ITS STEWARDSHIP OF THE FUNDS FOR SPONSORED RESEARCH AND FINANCIAL SUPPORT OF RESEARCH ACTIVITIES. GTRC EMBODIES GEORGIA TECH'S FOUNDING SPIRIT OF ENTREPRENEURSHIP AND FOCUS ON THE APPLICATIONS OF ENGINEERING, SCIENCE AND TECHNOLOGY TO THE CREATION OF MEANINGFUL NEW IDEAS, METHODS, AND OPPORTUNITIES. THROUGH TECHNOLOGY TRANSFER, GTRC ENABLES THE INSTITUTE TO MAINTAIN BENEFICIAL PARTNERSHIPS WITH PUBLIC AND PRIVATE SECTORS IN RESEARCH AND TECHNOLOGY TO ASSURE THE BENEFITS OF DISCOVERY ARE WIDELY DISSEMINATED.
-
THE GEORGIA INSTITUTE OF TECHNOLOGY RESEARCH ACTIVITY IS SUPPORTED BY THE GEORGIA TECH RESEARCH CORPORATION WHICH CONSISTS OF OVER 2,000 INDIVIDUAL PROJECTS FOR GOVERNMENTS AND INDUSTRY. PAYMENTS AND REIMBURSEMENT OF EXPENSES AND GRANTS TO AND FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY HAVE BEEN MADE. THE GEORGIA TECH RESEARCH CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY WHICH IS A UNIT OF THE UNIVERSITY SYSTEM IN THE STATE OF GEORGIA.
Expenses $416,469,111 · Grants $9,834,221 · Revenue $415,300,495
As filed on the 2022 return.
Listed in Part VII
-
Chaouki AbdallahCHAOUKI ABDALLAH
PRESIDENT
- Total calculated
- $506,911
- From this org
- $0
- From related orgs
- $417,734
- Other
- $89,177
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $417,734 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $59,704 related
- Nontaxable benefits
- $0 + $29,473 related
- Filer's total
- $0 + $506,911 related
-
John BarnardJOHN BARNARD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Michelle ChristyMICHELLE CHRISTY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Kelly FoxKELLY FOX
TRUSTEE
- Total calculated
- $426,432
- From this org
- $0
- From related orgs
- $379,885
- Other
- $46,547
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $379,885 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $26,694 related
- Nontaxable benefits
- $0 + $19,853 related
- Filer's total
- $0 + $426,432 related
-
Scott FrankSCOTT FRANK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
David GarrisonDAVID GARRISON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Kenneth MassaroniKENNETH MASSARONI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Theresa MayerTHERESA MAYER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Steven McLaughlinSTEVEN MCLAUGHLIN
TRUSTEE
- Total calculated
- $625,172
- From this org
- $0
- From related orgs
- $568,353
- Other
- $56,819
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $568,353 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $28,182 related
- Nontaxable benefits
- $0 + $28,637 related
- Filer's total
- $0 + $625,172 related
-
Deb OliverDEB OLIVER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Thomas SaylorTHOMAS SAYLOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Robert StargelROBERT STARGEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Robert FoyROBERT FOY
INTERIM GENERAL MANAGER
- Total calculated
- $277,907
- From this org
- $0
- From related orgs
- $215,025
- Other
- $62,882
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $215,025 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $36,614 related
- Nontaxable benefits
- $0 + $26,268 related
- Filer's total
- $0 + $277,907 related
-
Mary Susan LozierMARY SUSAN LOZIER
SECRETARY
- Total calculated
- $432,440
- From this org
- $0
- From related orgs
- $385,912
- Other
- $46,528
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $385,912 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $28,182 related
- Nontaxable benefits
- $0 + $18,346 related
- Filer's total
- $0 + $432,440 related
-
Albert ConcordALBERT CONCORD
FACILITY SECURITY OFFICER
- Total calculated
- $240,680
- From this org
- $0
- From related orgs
- $199,271
- Other
- $41,409
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $199,271 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $39,284 related
- Nontaxable benefits
- $0 + $2,125 related
- Filer's total
- $0 + $240,680 related
-
Neil VitroNEIL VITRO
ASST SEC & ASST TREASURER
- Total calculated
- $228,954
- From this org
- $0
- From related orgs
- $167,957
- Other
- $60,997
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $167,957 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $34,569 related
- Nontaxable benefits
- $0 + $26,428 related
- Filer's total
- $0 + $228,954 related
-
Bruce HenryBRUCE HENRY
ASST SEC & ASST TREASURER
- Total calculated
- $193,560
- From this org
- $0
- From related orgs
- $134,009
- Other
- $59,551
- Hours/week
- 16 + 24 related
Schedule J breakdown matched by us
- Base
- $0 + $134,009 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $28,600 related
- Nontaxable benefits
- $0 + $30,951 related
- Filer's total
- $0 + $193,560 related
-
James FortnerJAMES FORTNER
TREASURER, ASSISTANT SECRETARY
- Total calculated
- $370,657
- From this org
- $0
- From related orgs
- $284,882
- Other
- $85,775
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $284,882 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $57,960 related
- Nontaxable benefits
- $0 + $27,815 related
- Filer's total
- $0 + $370,657 related
-
Raghupathy SivakumarRAGHUPATHY SIVAKUMAR
ASST SEC & ASST TREASURER
- Total calculated
- $432,337
- From this org
- $0
- From related orgs
- $376,607
- Other
- $55,730
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $376,607 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $28,182 related
- Nontaxable benefits
- $0 + $27,548 related
- Filer's total
- $0 + $432,337 related
-
Kevin WozniakKEVIN WOZNIAK
ASSISTANT SECRETARY
- Total calculated
- $249,448
- From this org
- $0
- From related orgs
- $202,571
- Other
- $46,877
- Hours/week
- 16 + 24 related
Schedule J breakdown matched by us
- Base
- $0 + $202,571 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $18,069 related
- Nontaxable benefits
- $0 + $28,808 related
- Filer's total
- $0 + $249,448 related
-
Cynthia HopeCYNTHIA HOPE
VICE PRESIDENT AND ASST SECRETARY
- Total calculated
- $281,176
- From this org
- $0
- From related orgs
- $248,362
- Other
- $32,814
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $0 + $248,362 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $22,969 related
- Nontaxable benefits
- $0 + $9,845 related
- Filer's total
- $0 + $281,176 related
-
John KingtonJOHN KINGTON
ASSISTANT SECRETARY
- Total calculated
- $167,309
- From this org
- $0
- From related orgs
- $131,679
- Other
- $35,630
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $131,679 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $12,359 related
- Nontaxable benefits
- $0 + $23,271 related
- Filer's total
- $0 + $167,309 related
-
Tanesha StewardTANESHA STEWARD
ASSISTANT SECRETARY
- Total calculated
- $172,601
- From this org
- $0
- From related orgs
- $130,292
- Other
- $42,309
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $130,292 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $26,476 related
- Nontaxable benefits
- $0 + $15,833 related
- Filer's total
- $0 + $172,601 related
-
Dana SimpsonDANA SIMPSON
ASSISTANT SECRETARY UNTIL NOV '22
- Total calculated
- $206,780
- From this org
- $0
- From related orgs
- $154,141
- Other
- $52,639
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $0 + $154,141 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $30,898 related
- Nontaxable benefits
- $0 + $21,741 related
- Filer's total
- $0 + $206,780 related
-
Sophia Herbert-PetersonSOPHIA HERBERT-PETERSON
ASSISTANT SECRETARY
- Total calculated
- $250,517
- From this org
- $0
- From related orgs
- $205,189
- Other
- $45,328
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $205,189 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $18,827 related
- Nontaxable benefits
- $0 + $26,501 related
- Filer's total
- $0 + $250,517 related
-
Stephen CrossSTEPHEN CROSS
FORMER PRESIDENT
- Total calculated
- $158,423
- From this org
- $0
- From related orgs
- $158,423
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $0 + $158,423 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $158,423 related
-
Rebecca CaravatiREBECCA CARAVATI
FORMER VICE PRES AND GENERAL MGR
- Total calculated
- $82,714
- From this org
- $0
- From related orgs
- $82,714
- Other
- $0
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $0 + $82,714 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $82,714 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
-
GEORGIA INSTITUTE OF TECHNOLOGY
$9,834,221
RESEARCH PROGRAM SUPPORT
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.
-
GEORGIA TECH APPLIED RESEARCH CORPORATION
501(C)(3) · SPONSORED RESEARCH FOR GEORGIA INSTITUTE OF TECHNOLOGY · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
GEORGIA INSTITUTE OF TECHNOLOGY
170(C)(1) · EDUCATION AND RESEARCH · GA
Directly controlled by BOARD OF REGENTS OF USG
-
501(C)(3) · FINANCING & CONSTRUCTING BUILDINGS FOR GEORGIA INSTITUTE OF TECHNOLOGY · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
501(C)(3) · SUPPORT INTERNATIONAL ACTIVITIES OF GIT · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
GLOBAL CENTER FOR MEDICAL INNOVATION INC
501(C)(3) · RESEARCH · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
501(C)(3) · CHILD CARE · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
501(C)(3) · COMMUNICATION SERVICES · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
GEORGIA TECH ATHLETIC ASSOCIATION
501(C)(3) · ATHLETICS · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
-
GEORGIA ADVANCED TECHNOLOGY VENTURES INC
501(C)(3) · ECONOMIC DEVELOPMENT · GA
Directly controlled by GEORGIA INSTITUTE OF TECHNOLOGY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411349349302816
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