Form 990 for tax year 2022

Filed by GREENVILLE TECH FOUNDATION INC.

Totals

Total revenue: $10,842,681
Total expenses: $6,933,314
Contributions and grants received: $4,640,525
Grants paid: $851,294
Program service revenue: $1,488,641
Investment income: $4,270,406
Other revenue: $443,109
Total assets, end of year: $44,571,586
Total liabilities, end of year: $11,452,360
Net assets or fund balances, end of year: $33,119,226
Program services expenses (Part IX): $5,891,107
Management and general expenses: $1,012,584
Fundraising expenses: $29,623
Program service expenses (Part III): $5,891,107

Program services were 85.0% 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.

1c · Fundraising events

$166,000
1f · All other contributions, gifts and grants

$4,474,525
1g · Noncash contributions included above

$283,767
2a · Program service revenue: BRASHIER CHARTER CAMPUS

total $573,398 · related or exempt $573,398
2b · Program service revenue: STUDENT HOUSING

total $571,743 · related or exempt $571,743
2c · Program service revenue: MANAGEMENT FEE

total $244,000 · related or exempt $244,000
2d · Program service revenue: LEASE REVENUE

total $99,500 · related or exempt $99,500
3 · Investment income

total $636,343 · excluded $636,343
6a · Gross rents

real property $1,817,345
6b · Less rental expenses

real property $1,425,519
6c · Rental income or loss

real property $391,826
6d · Net rental income or loss

total $391,826 · excluded $391,826
7a · Gross sales of assets other than inventory

securities $3,366,174 · other assets $16,000,000
7b · Less cost or other basis and sales expenses

securities $3,269,795 · other assets $12,462,316
7c · Gain or loss

securities $96,379 · other assets $3,537,684
7d · Net gain or loss

total $3,634,063 · related or exempt $3,634,063
8a · Fundraising events: gross income

$7,000
8a · Fundraising events: contributions included on line 1c

$166,000
8b · Fundraising events: direct expenses

$41,640
8c · Net income from fundraising events

total -$34,640 · excluded -$34,640
11a · Other revenue: MISCELLANEOUS

total $85,923 · related or exempt $85,923
11e · Other revenue, total

$85,923

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $851,294 · program services $851,294
5 · Compensation of officers, directors and key employees

total $160,137 · management and general $160,137
7 · Other salaries and wages

total $167,258 · management and general $167,258
9 · Other employee benefits

total $99,532 · management and general $99,532
11a · Fees: management

total $171,596 · program services $171,596
11b · Fees: legal

total $6,290 · management and general $6,290
11c · Fees: accounting

total $21,850 · management and general $21,850
11d · Fees: lobbying

total $54,000 · program services $54,000
11g · Fees: other

total $5,042 · management and general $5,042
13 · Office expenses

total $13,260 · management and general $13,260
14 · Information technology

total $29,830 · management and general $29,830
16 · Occupancy

total $490,352 · management and general $490,352
20 · Interest

total $412,945 · program services $412,945
22 · Depreciation, depletion and amortization

total $500,602 · program services $500,602
24a · Other expenses: OTHER COLLEGE SUPPORT

total $2,709,002 · program services $2,709,002
24b · Other expenses: STUDENT HOUSING FEES

total $363,366 · program services $363,366
24c · Other expenses: EQUIPMENT PURCHASES/GIF

total $283,767 · program services $283,767
24d · Other expenses: COLLEGE SUPP - BUILDING

total $265,660 · program services $265,660
24e · All other expenses

total $327,531 · program services $278,875 · management and general $19,033 · fundraising $29,623

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,085,757 · end of year $3,712,270
2 · Savings and temporary cash investments

beginning of year $3,977,817 · end of year $6,036,308
3 · Pledges and grants receivable

beginning of year $366,429 · end of year $2,017,904
4 · Accounts receivable

beginning of year $80,826 · end of year $52,036
9 · Prepaid expenses and deferred charges

beginning of year $146,943 · end of year $103,032
10a · Land, buildings and equipment: cost or other basis

$20,728,393
10b · Land, buildings and equipment: accumulated depreciation

$9,771,371
10c · Land, buildings and equipment, net

beginning of year $21,626,626 · end of year $10,957,022
11 · Investments: publicly traded securities

beginning of year $20,800,026 · end of year $17,143,664
15 · Other assets

beginning of year $235,111 · end of year $4,549,350
17 · Accounts payable and accrued expenses

beginning of year $221,355 · end of year $175,238
19 · Deferred revenue

beginning of year $71,625 · end of year $2,083
20 · Tax-exempt bond liabilities

beginning of year $14,347,460 · end of year $6,032,045
25 · Other liabilities

beginning of year $2,535,893 · end of year $5,242,994
27 · Net assets without donor restrictions

beginning of year $11,065,810 · end of year $12,412,957
28 · Net assets with donor restrictions

beginning of year $20,077,392 · end of year $20,706,269

Mission and programs · 2022

Mission

PROVIDE FINANCIAL ASSISTANCE TO GREENVILLE TECHNICAL COLLEGE AND ITS STUDENTS.

PROVIDED HOUSING SERVICES TO STUDENTS OF GREENVILLE TECHNICAL COLLEGE.

Expenses $635,506 · Revenue $671,243
PURCHASED EQUIPMENT FOR VARIOUS COLLEGE PROGRAMS OFFERED AT GREENVILLE TECHNICAL COLLEGE.

Expenses $265,660
CONSTRUCTED CLASSROOM AND GYMNASIUM FOR THE BRASHIER CHARTER MIDDLE SCHOOL CAMPUS AT THE REQUEST OF GREENVILLE TECHNICAL COLLEGE. CONTINUING REVENUE AND EXPENSES ARE FOR OWNERSHIP OF BUILDING BY GREENVILLE TECH FOUNDATION.

Expenses $551,030 · Revenue $573,398
ALL OTHER PROGRAM SERVICE EXPENSES CONSIST OF MONIES SPENT FOR STUDENT PROGRAMS, SCHOLARSHIPS, COLLEGE FACULTY/STAFF DEVELOPMENT, COLLEGE DEPARTMENT SUPPLIES & ACTIVITIES, CONSULTING AND OTHER COLLEGE SUPPORT. OTHER PROGRAM SERVICE REVENUE CONSISTS OF A MANAGEMENT FEE COLLECTED FROM GREENVILLE TECHNICAL COLLEGE.

Expenses $4,438,911 · Grants $851,294 · Revenue $244,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

ANN WRIGHT

VP FOR ADVAN

Total calculated

$215,504

From this org

$0

From related orgs

$160,137

Other

$55,367

Hours/week

50

Schedule J breakdown matched by us

Base

not reported + $160,137 related

Bonus

not reported

Other

not reported

Deferred

not reported + $55,367 related

Nontaxable benefits

not reported

Filer's total

not reported + $215,504 related
DR KEITH L MILLER

COLLEGE PRES

Total calculated

$132,647

From this org

$132,647

From related orgs

$0

Other

$0

Hours/week

1
KIMBERLY BAILEY

DIRECTOR

Total calculated

$0

Hours/week

1
DREW BOLAND

DIRECTOR

Total calculated

$0

Hours/week

1
STACY B BRANDON

CHAIRMAN

Total calculated

$0

Hours/week

1
MICHAEL A CINQUEMANI

DIRECTOR

Total calculated

$0

Hours/week

1
CHAD COUSINS

DIRECTOR

Total calculated

$0

Hours/week

1
LISA DAVIES

DIRECTOR

Total calculated

$0

Hours/week

1
LYNN FAUST

DIRECTOR

Total calculated

$0

Hours/week

1
TAVIA CM GADDY

DIRECTOR

Total calculated

$0

Hours/week

1
STEVE HALL

DIRECTOR

Total calculated

$0

Hours/week

1
LUKE HARDAWAY

VICE CHAIR

Total calculated

$0

Hours/week

1
JENNA HENDRICKS

DIRECTOR

Total calculated

$0

Hours/week

1
KAY HILL

DIRECTOR

Total calculated

$0

Hours/week

1
KIM HOWARD

DIRECTOR

Total calculated

$0

Hours/week

1
KATIE HOWELL

DIRECTOR

Total calculated

$0

Hours/week

1
JAMES JORDON

DIRECTOR

Total calculated

$0

Hours/week

1
WILL W HUSS JR

IMMEDIATE PA

Total calculated

$0

Hours/week

1
DMITRY KOPYTIN

DIRECTOR

Total calculated

$0

Hours/week

1
MICHAEL MCCORMICK

DIRECTOR

Total calculated

$0

Hours/week

1
NEETU PATEL

DIRECTOR

Total calculated

$0

Hours/week

1
TIFFANY SANTAGATI

DIRECTOR

Total calculated

$0

Hours/week

1
STEVE SMITH

DIRECTOR

Total calculated

$0

Hours/week

1
MIKE SNIVELY

DIRECTOR

Total calculated

$0

Hours/week

1
DAVID SUDDUTH

TREASURER

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

1a · Travel for companions
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Independent compensation consultant
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
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 III: FORM 990, PART VII, SECTION A, QUESTIONS 4 AND 5: ANN WRIGHT IS THE VP FOR ADVANCEMENT/CEO OF GREENVILLE TECH FOUNDATION, INC. SHE RECEIVED COMPENSATION DURING 2022 OF 160,137 AND BENEFITS OF 55,367 FROM GREENVILLE TECHNICAL COLLEGE, WHICH IS NOT A RELATED ORGANIZATION. HER COMPENSATION IS RELATED TO SUPPLEMENTAL SERVICES AS VP FOR ADVANCEMENT/CEO OF THE FOUNDATION. THE FOUNDATION REIMBURSED THE COLLEGE FOR ONE-FOURTH OF THIS COMPENSATION AS WELL AS ONE-FOURTH OF HER BENEFITS, WHICH ARE INCLUDED ON LINES 5 & 9 OF THE STATEMENT OF FUNCTIONAL EXPENSES.

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.

GTF MCALISTER LLC

SUBSIDIARY · SC · income $1,817,345 · assets $4,433,065

Directly controlled by GTF
GTF STUDENT HOUSING LLC

SUBSIDIARY · SC · income $571,743

Directly controlled by GTF
BRASHIER CHARTER LLC

SUBSIDIARY · SC · income $573,398 · assets $5,944,832

Directly controlled by GTF
GTF PLEASANTBURG LLC

SUBSIDIARY · SC · assets $246,248

Directly controlled by GTF

Provenance

Return type: form_990
Tax year: 2022
Filed: 7 September 2023
IRS schema version: 2022v5.0
Source object: 202312509349300931

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