Form 990 for tax year 2022
Filed by GORDON STATE COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $1,370,562
- Total expenses
- $1,138,846
- Contributions and grants received
- $403,415
- Grants paid
- $153,435
- Program service revenue
- $587,921
- Investment income
- $379,226
- Other revenue
- $0
- Total assets, end of year
- $27,088,474
- Total liabilities, end of year
- $10,629,443
- Net assets or fund balances, end of year
- $16,459,031
- Program services expenses (Part IX)
- $679,753
- Management and general expenses
- $387,764
- Fundraising expenses
- $71,329
- Program service expenses (Part III)
- $679,753
Program services were 59.7% 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.
-
1f · All other contributions, gifts and grants
$403,415
-
1g · Noncash contributions included above
$20,000
-
2a · Program service revenue: INCOME FROM DIRECT FINANCING LEAS
total $502,387 · related or exempt $502,387
-
2b · Program service revenue: RENTAL INCOME
total $85,534 · related or exempt $85,534
-
3 · Investment income
total $301,318 · excluded $301,318
-
7a · Gross sales of assets other than inventory
securities $3,394,823
-
7b · Less cost or other basis and sales expenses
securities $3,316,915
-
7c · Gain or loss
securities $77,908
-
7d · Net gain or loss
total $77,908 · excluded $77,908
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $153,435 · program services $153,435
-
11b · Fees: legal
total $1,225 · management and general $1,225
-
11c · Fees: accounting
total $101,900 · management and general $101,900
-
11e · Fees: professional fundraising services
total $55,362 · fundraising $55,362
-
11f · Fees: investment management
total $83,069 · management and general $83,069
-
11g · Fees: other
total $16,425 · program services $6,815 · management and general $9,610
-
12 · Advertising and promotion
total $1,931 · management and general $1,931
-
13 · Office expenses
total $25,443 · program services $80 · management and general $25,363
-
14 · Information technology
total $28,401 · management and general $28,401
-
17 · Travel
total $4,996 · management and general $4,996
-
19 · Conferences, conventions and meetings
total $36,617 · management and general $20,650 · fundraising $15,967
-
20 · Interest
total $519,363 · program services $519,363
-
23 · Insurance
total $170 · management and general $170
-
24a · Other expenses: PROFESSIONAL DEVELOPMEN
total $16,174 · management and general $16,174
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $11,635 · program services $60 · management and general $11,575
-
24c · Other expenses: MEMORIALS & TRIBUTES
total $3,176 · management and general $3,176
-
24d · Other expenses: AWARDS & RECOGNITION
total $438 · management and general $438
-
24e · All other expenses
total $79,086 · management and general $79,086
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $202,206 · end of year $214,893
-
2 · Savings and temporary cash investments
beginning of year $1,442,021 · end of year $1,564,848
-
3 · Pledges and grants receivable
beginning of year $97,710 · end of year $148,744
-
7 · Other notes and loans receivable
beginning of year $11,735,994 · end of year $11,398,723
-
10a · Land, buildings and equipment: cost or other basis
$20,882
-
10b · Land, buildings and equipment: accumulated depreciation
$20,882
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $16,849,751 · end of year $13,761,266
-
17 · Accounts payable and accrued expenses
beginning of year $323,097 · end of year $320,201
-
20 · Tax-exempt bond liabilities
beginning of year $10,598,778 · end of year $10,309,242
-
27 · Net assets without donor restrictions
beginning of year $12,519,876 · end of year $11,106,506
-
28 · Net assets with donor restrictions
beginning of year $6,885,931 · end of year $5,352,525
Mission and programs · 2022
Mission
TO SUPPORT THE COLLEGE IN ALL ENDEAVORS THAT ARE NOT SUPPORTED BUT SANCTIONED BY THE BOARD OF REGENTS TO INCLUDE BUT NOT LIMITED TO THE FOLLOWING:-SUPPORT THE COLLEGE WITH OUR VISIBLE ATTENDANCE ON CAMPUS AND IN OUR INDIVIDUAL COMMUNITIES;-SUPPORT THE COLLEGE BY CONTINUING TO GIVE TO AND RAISE FUNDS FOR THE FOUNDATION;-SUPPORT THE COLLEGE WITH PRUDENT MANAGEMENT OF THE FOUNDATIONS' ASSETS WHICH ALLOWS THE TRUSTEES TO:1) FUND SCHOLARSHIPS TO DESERVING STUDENTS;2) ACQUIRE PROPERTY FOR THE COLLEGE;3) CONSTRUCT BUILDINGS, IF FINANCIALLY REWARDING;4) CONTRIBUTE TO FACULTY DEVELOPMENT AND SUPPORT;5) FUND ANY NECESSARY OR DESERVING REQUEST OR ACTIVITY FOR THE BENEFIT OF THE COLLEGE IF APPROVED BY A MAJORITY OF THE TRUSTEES.
-
FINANCE CONSTRUCTION OF STUDENT HOUSING AND RECREATION CENTER, RENTAL OF STUDENT HOUSING TO GORDON STATE COLLEGE
Expenses $526,318 · Revenue $587,921
-
SCHOLARSHIPS TO VARIOUS GORDON STATE COLLEGE STUDENTS.
Expenses $153,435 · Grants $153,435
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Montrese Adger FullerMONTRESE ADGER FULLER
EXECUTIVE DIRECTOR
- Total calculated
- $163,213
- From this org
- $117,888
- From related orgs
- $0
- Other
- $45,325
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- $117,888
- Bonus
- $0
- Other
- $0
- Deferred
- $24,422
- Nontaxable benefits
- $20,903
- Filer's total
- $163,213
-
Robert L HarrisROBERT L HARRIS
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Lily Jung HensonLILY JUNG HENSON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Reshann AdamsRESHANN ADAMS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Kirk A NooksKIRK A NOOKS
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Derrick R LewisDERRICK R LEWIS
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Kevin T NapierKEVIN T NAPIER
TRUSTEE, AT-LARGE
- Total calculated
- $0
- Hours/week
- 2
-
Jeneen AndrewsJENEEN ANDREWS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Scott BlackstockSCOTT BLACKSTOCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
T Aaron BuiceT AARON BUICE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Andy B BushANDY B BUSH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kenneth E CogginsKENNETH E COGGINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Alan ConnellALAN CONNELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lucinda DallasLUCINDA DALLAS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James J Edwards JrJAMES J EDWARDS JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Janie McDaniel EvansJANIE MCDANIEL EVANS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Joel FullerJOEL FULLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lindsay Johnson GowanLINDSAY JOHNSON GOWAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James L GranumJAMES L GRANUM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
George H Hightower JrGEORGE H HIGHTOWER JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
W Chase IdolW CHASE IDOL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Tamara IsonTAMARA ISON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Curtis JenkinsCURTIS JENKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Terry KillingsworthTERRY KILLINGSWORTH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
B Waine KongB WAINE KONG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Donald F NeunerDONALD F NEUNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kike SedaKIKE SEDA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bert WallBERT WALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Daniel C WhiteDANIEL C WHITE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
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 II
- MONTRESE ADGER FULLER'S COMPENSATION OF $138,791 IS PAID BY GORDON STATE COLLEGE. SHE PERFORMS SERVICE FOR BOTH GORDON STATE COLLEGE AND GORDON STATE COLLEGE 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
No itemized grants to organizations on this return.
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.
-
GORDON STATE COLLEGE PROP FND III
SUPPORT · GA · income $597,350 · assets $13,009,527
Directly controlled by GORDON STATE COLLEGE FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303149349306100
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