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Nonprofiteer
← GWINNETT TECH FOUNDATION INC

Form 990 for tax year 2022

Filed by GWINNETT TECH FOUNDATION INC.

Totals

Total revenue
$401,820
Total expenses
$776,571
Contributions and grants received
$329,387
Grants paid
$603,662
Program service revenue
$0
Investment income
$72,433
Other revenue
$0
Total assets, end of year
$9,093,505
Total liabilities, end of year
$252,251
Net assets or fund balances, end of year
$8,841,254
Program services expenses (Part IX)
$603,662
Management and general expenses
$172,909
Fundraising expenses
$0
Program service expenses (Part III)
$603,662

Program services were 77.7% 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

    $329,387

  • 1g · Noncash contributions included above

    $57,489

  • 3 · Investment income

    total $217,871 · excluded $217,871

  • 7b · Less cost or other basis and sales expenses

    securities $145,438

  • 7c · Gain or loss

    securities -$145,438

  • 7d · Net gain or loss

    total -$145,438 · excluded -$145,438

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $603,662 · program services $603,662

  • 11f · Fees: investment management

    total $27,302 · management and general $27,302

  • 13 · Office expenses

    total $144,406 · management and general $144,406

  • 24a · Other expenses: BANK CHARGES

    total $1,201 · management and general $1,201

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $137,160 · end of year $144,749

  • 2 · Savings and temporary cash investments

    beginning of year $351,600 · end of year $354,033

  • 3 · Pledges and grants receivable

    beginning of year $53,775 · end of year $28,025

  • 4 · Accounts receivable

    beginning of year $0 · end of year $23,643

  • 11 · Investments: publicly traded securities

    beginning of year $8,319,214 · end of year $8,543,055

  • 17 · Accounts payable and accrued expenses

    beginning of year $288,533 · end of year $250,973

  • 25 · Other liabilities

    beginning of year $1,278 · end of year $1,278

  • 27 · Net assets without donor restrictions

    beginning of year $751,444 · end of year $827,776

  • 28 · Net assets with donor restrictions

    beginning of year $7,820,494 · end of year $8,013,478

Mission and programs · 2022

Mission

THE GWINNETT TECH FOUNDATION EXISTS FOR THE SOLE PURPOSE OF HELPING GWINNETT TECHICAL COLLEGE AND ITS STUDENTS SUCCEED THROUGH FINANCIAL SUPPORT INCLUDING SCHOLARSHIPS.

Activities or mission (Part I)

THE PURPOSE OF THE GWINNETT TECH FOUNDATION IS TO AID AND SUPPORT GWINNETT TECHNICAL COLLEGE.

  • THE FOUNDATION'S EXEMPT PURPOSE IS TO GENERATE AND PROVIDE ADDITIONAL FUNDS FOR THE SUPPORT OF THE STUDENTS, PROGRAMS AND SERVICES OF GWINNETT TECHNICAL COLLEGE IN ORDER TO HELP THE COLLEGE ACHIEVE ITS STATED GOALS AND OBJECTIVES. GWINNETT TECHNICAL COLLEGE IS A TWO-YEAR TECHNICAL SCHOOL UNIT OF THE TECHNICAL COLLEGE SYSTEM OF GEORGIA WITH CAMPUSES IN LAWRENCEVILLE AND ALPHARETTA, GEORGIA THAT OFFERS OVER 140 PROGRAMS OF STUDY FOR OVER 12,000 ENROLLED STUDENTS.

    Expenses $603,662 · Grants $603,662

As filed on the 2022 return.

Listed in Part VII

  • Herb Hoffman

    TRUSTEE, CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kali Boatright

    TRUSTEE, SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Cliff Clark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Judith Martinez-Sadri

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Charan Shikh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sophia Pittman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Bridwell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anthony Chen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Norma Hepburn-Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Leigh Gant

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Glen Cannon Gwinnett Technical C

    TRUSTEE, EX-OFFICIO (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Dan King

    TRUSTEE, EMERITUS (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Sean Murphy

    TRUSTEE, EMERITUS (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • Mac Peden

    TRUSTEE, EMERITUS (NON-VOTING)

    Total calculated
    $0
    Hours/week
    1

  • J Alvin Wilbanks

    TRUSTEE, EMERITUS (NON-VOTING)

    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.

Grants 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.

Provenance

Return type
form_990
Tax year
2022
Filed
5 February 2024
IRS schema version
2022v5.0
Source object
202400409349301005

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