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← UNIVERSITY OF GEORGIA RESEARCH FOUNDATION INC

Form 990 for tax year 2022

Filed by UNIVERSITY OF GEORGIA RESEARCH FOUNDATION INC.

Totals

Total revenue
$273,342,749
Total expenses
$270,663,490
Contributions and grants received
$259,677,246
Grants paid
$253,379,463
Program service revenue
$0
Investment income
$1,610,410
Other revenue
$12,055,093
Total assets, end of year
$132,475,705
Total liabilities, end of year
$69,830,304
Net assets or fund balances, end of year
$62,645,401
Program services expenses (Part IX)
$270,127,291
Management and general expenses
$536,199
Fundraising expenses
$0
Program service expenses (Part III)
$270,127,291

Program services were 99.8% 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.

  • 1e · Government grants (contributions)

    $229,140,314

  • 1f · All other contributions, gifts and grants

    $30,536,932

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,397,046 · excluded $1,397,046

  • 5 · Royalties

    total $11,979,696 · related or exempt $11,979,696

  • 6a · Gross rents

    real property $75,397

  • 6c · Rental income or loss

    real property $75,397 · personal property $0

  • 6d · Net rental income or loss

    total $75,397 · excluded $75,397

  • 7a · Gross sales of assets other than inventory

    securities $9,184,926

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

    securities $8,971,562

  • 7c · Gain or loss

    securities $213,364 · other assets $0

  • 7d · Net gain or loss

    total $213,364 · excluded $213,364

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $253,379,463 · program services $253,379,463

  • 11b · Fees: legal

    total $8,570 · management and general $8,570

  • 11c · Fees: accounting

    total $61,437 · management and general $61,437

  • 11f · Fees: investment management

    total $136,589 · management and general $136,589

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $59,449 · management and general $59,449

  • 15 · Royalties

    total $9,381,216 · program services $9,381,216

  • 16 · Occupancy

    total $18,556 · management and general $18,556

  • 17 · Travel

    total $701 · management and general $701

  • 19 · Conferences, conventions and meetings

    total $16,596 · management and general $16,596

  • 23 · Insurance

    total $118,340 · management and general $118,340

  • 24a · Other expenses: RESEARCH PROGRAM ENHANCEMENT

    total $5,699,317 · program services $5,699,317

  • 24b · Other expenses: LICENSES AND INTELLECTUAL PROPERTY EXPENSE

    total $1,667,295 · program services $1,667,295

  • 24e · All other expenses

    total $115,961 · program services $0 · management and general $115,961 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,674,562 · end of year $13,322,879

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $1,249,935

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

    $1,142,306

  • 10c · Land, buildings and equipment, net

    beginning of year $107,629 · end of year $107,629

  • 11 · Investments: publicly traded securities

    beginning of year $46,007,754 · end of year $50,920,756

  • 12 · Investments: other securities

    beginning of year $346,366 · end of year $132,762

  • 13 · Investments: program-related

    beginning of year $380,463 · end of year $410,160

  • 15 · Other assets

    beginning of year $62,842,616 · end of year $67,581,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,403,025 · end of year $1,508,951

  • 19 · Deferred revenue

    beginning of year $6,275 · end of year $6,275

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $66,889,834 · end of year $68,315,078

  • 27 · Net assets without donor restrictions

    beginning of year $58,060,256 · end of year $62,645,401

Mission and programs · 2022

Mission

THE UNIVERSITY OF GEORGIA RESEARCH FOUNDATION (RESEARCH FOUNDATION) IS ORGANIZED TO FULFILL BROAD SCIENTIFIC, LITERARY, EDUCATIONAL, AND CHARITABLE PURPOSES AND OPERATES TO ENHANCE THE MISSION OF THE UNIVERSITY OF GEORGIA (UNIVERSITY) OF TEACHING, RESEARCH, AND PUBLIC SERVICE. THE RESEARCH FOUNDATION CONTRIBUTES TO THE RESEARCH FUNCTION OF THE UNIVERSITY BY SECURING RESEARCH CONTRACTS, GRANTS, AND AWARDS FROM INDIVIDUALS, INSTITUTIONS, PRIVATE ORGANIZATIONS, AND GOVERNMENT AGENCIES FOR THE PERFORMANCE OF SPONSORED RESEARCH IN THE VARIOUS UNIVERSITY COLLEGES, SCHOOLS, DEPARTMENTS, AND OTHER UNITS. IN THE INTELLECTUAL PROPERTY ADMINISTRATION AGREEMENT, THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA AUTHORIZED THE RESEARCH FOUNDATION TO SERVE AS THE OFFICIAL RECIPIENT OF ALL RESEARCH CONTRACTS, GRANTS, AND AWARDS FOR THE CONDUCT OF SPONSORED RESEARCH AT THE UNIVERSITY.

Activities or mission (Part I)

Withheld by Nonprofiteer: this text may name a private individual.

  • THE RESEARCH FOUNDATION CONTRIBUTES TO THE RESEARCH FUNCTION AT THE UNIVERSITY BY SECURING RESEARCH CONTRACTS, GRANTS, AND AWARDS FROM INDIVIDUALS, INSTITUTIONS, PRIVATE ORGANIZATIONS, AND GOVERNMENT AGENCIES FOR PERFORMANCE OF SPONSORED RESEARCH IN THE VARIOUS UNIVERSITY COLLEGES, SCHOOLS, DEPARTMENTS, AND OTHER UNITS.

    Expenses $253,379,463 · Grants $253,379,463

  • THE RESEARCH FOUNDATION DISTRIBUTES A PORTION OF LICENSING AND ROYALTIES REVENUE TO UNIVERSITY DEPARTMENTS AND PROGRAMS AND PROVIDES OTHER DIRECT SUPPORT FOR VARIOUS RESEARCH INITIATIVES AT THE UNIVERSITY.

    Expenses $16,747,828 · Revenue $11,979,696

As filed on the 2022 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • JERE W MOREHEAD

    PRESIDENT/CHAIR

    Total calculated
    $957,171
    From this org
    $0
    From related orgs
    $690,558
    Other
    $266,613
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $663,558 related
    Bonus
    $0
    Other
    $0 + $27,000 related
    Deferred
    $0 + $258,058 related
    Nontaxable benefits
    $0 + $8,555 related
    Filer's total
    $0 + $957,171 related

  • RYAN A NESBIT

    FINANCIAL VP/TREASURER

    Total calculated
    $443,962
    From this org
    $0
    From related orgs
    $345,231
    Other
    $98,731
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $337,231 related
    Bonus
    $0
    Other
    $0 + $8,000 related
    Deferred
    $0 + $70,404 related
    Nontaxable benefits
    $0 + $28,327 related
    Filer's total
    $0 + $443,962 related

  • S JACK HU

    VICE CHAIR

    Total calculated
    $554,470
    From this org
    $0
    From related orgs
    $505,098
    Other
    $49,372
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $505,098 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,182 related
    Nontaxable benefits
    $0 + $21,190 related
    Filer's total
    $0 + $554,470 related

  • ALAN G DARVILL

    DIRECTOR

    Total calculated
    $259,505
    From this org
    $0
    From related orgs
    $230,165
    Other
    $29,340
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,165 related
    Bonus
    $0
    Other
    $0 + $12,000 related
    Deferred
    $0 + $18,990 related
    Nontaxable benefits
    $0 + $10,350 related
    Filer's total
    $0 + $259,505 related

  • C GREG GUYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • F ABIT MASSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FRANKLIN D WEST

    DIRECTOR

    Total calculated
    $186,946
    From this org
    $0
    From related orgs
    $150,043
    Other
    $36,903
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,043 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,067 related
    Nontaxable benefits
    $0 + $22,836 related
    Filer's total
    $0 + $186,946 related

  • GREGORY H ROBINSON

    DIRECTOR

    Total calculated
    $539,068
    From this org
    $0
    From related orgs
    $424,505
    Other
    $114,563
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $424,505 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $86,024 related
    Nontaxable benefits
    $0 + $28,539 related
    Filer's total
    $0 + $539,068 related

  • JASON LOCKLIN

    DIRECTOR

    Total calculated
    $319,918
    From this org
    $0
    From related orgs
    $259,622
    Other
    $60,296
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,376 related
    Bonus
    $0
    Other
    $0 + $246 related
    Deferred
    $0 + $51,495 related
    Nontaxable benefits
    $0 + $8,801 related
    Filer's total
    $0 + $319,918 related

  • KAREN BURG

    DIRECTOR

    Total calculated
    $406,575
    From this org
    $0
    From related orgs
    $367,683
    Other
    $38,892
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,083 related
    Bonus
    $0
    Other
    $0 + $21,600 related
    Deferred
    $0 + $28,182 related
    Nontaxable benefits
    $0 + $10,710 related
    Filer's total
    $0 + $406,575 related

  • MICHAEL R STRAND

    DIRECTOR

    Total calculated
    $427,775
    From this org
    $0
    From related orgs
    $345,889
    Other
    $81,886
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $321,889 related
    Bonus
    $0
    Other
    $0 + $24,000 related
    Deferred
    $0 + $64,210 related
    Nontaxable benefits
    $0 + $17,676 related
    Filer's total
    $0 + $427,775 related

  • N KIRBY ALTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • PEGGY OZIAS-AKINS

    DIRECTOR

    Total calculated
    $239,759
    From this org
    $0
    From related orgs
    $180,863
    Other
    $58,896
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,863 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $35,896 related
    Nontaxable benefits
    $0 + $23,000 related
    Filer's total
    $0 + $239,759 related

  • STEVEN R H BEACH

    DIRECTOR

    Total calculated
    $333,117
    From this org
    $0
    From related orgs
    $285,515
    Other
    $47,602
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $261,515 related
    Bonus
    $0
    Other
    $0 + $24,000 related
    Deferred
    $0 + $26,923 related
    Nontaxable benefits
    $0 + $20,679 related
    Filer's total
    $0 + $333,117 related

  • SUSAN C WALTMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSANNE HOLLINGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TERESA L OSTAPOWER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEREK E EBERHART

    CHIEF LICENSING OFFICER

    Total calculated
    $258,121
    From this org
    $0
    From related orgs
    $228,477
    Other
    $29,644
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,060 related
    Bonus
    $0
    Other
    $0 + $417 related
    Deferred
    $0 + $21,009 related
    Nontaxable benefits
    $0 + $8,635 related
    Filer's total
    $0 + $258,121 related

  • JESSICA K ORBOCK

    SECRETARY

    Total calculated
    $275,460
    From this org
    $0
    From related orgs
    $252,468
    Other
    $22,992
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $245,422 related
    Bonus
    $0
    Other
    $0 + $7,046 related
    Deferred
    $0 + $22,992 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $275,460 related

  • LIBBY V MORRIS

    FORMER VICE CHAIR

    Total calculated
    $320,555
    From this org
    $0
    From related orgs
    $281,805
    Other
    $38,750
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,388 related
    Bonus
    $0
    Other
    $0 + $417 related
    Deferred
    $0 + $21,007 related
    Nontaxable benefits
    $0 + $17,743 related
    Filer's total
    $0 + $320,555 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 I, Line 3 Arrangement used to establish the top management official's compensation
THE PRESIDENT/CHAIR OF THE RESEARCH FOUNDATION IS PAID DIRECTLY BY THE UNIVERSITY FOR HIS ROLE AS PRESIDENT OF THE UNIVERSITY. THE UNIVERSITY SYSTEM OF GEORGIA BOARD OF REGENTS (BOARD) ESTABLISHES THE PRESIDENT'S ANNUAL COMPENSATION THROUGH THE USE OF A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND THE APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE COMPENSATION REPORTED IN PART II, COLUMN C INCLUDES DEFERRED COMPENSATION OF $221,074 PAID BY THE UNIVERSITY DURING 2022 AS PART OF A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN FOR JERE W. MOREHEAD. For fiscal year 2023, the University System of Georgia Board of Regents approved an annualized $225,074 contribution made by the University on behalf of Jere W. Morehead to an approved deferred compensation plan per Board of Regents policy.
Schedule J, Part I SCH J
THE RESEARCH FOUNDATION HAS NO EMPLOYEES. OFFICERS AND SOME DIRECTORS OF THE RESEARCH FOUNDATION ARE EMPLOYED BY THE UNIVERSITY AND ARE COMPENSATED FOR THE ROLE PERFORMED FOR THE UNIVERSITY. OFFICERS OF THE RESEARCH FOUNDATION ARE ALSO OFFICERS OF THE UNIVERSITY WHICH IS THE SUBCONTRACTOR ON ALL SPONSORED RESEARCH RECEIVED BY THE RESEARCH 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
19 December 2023
IRS schema version
2022v5.0
Source object
202313539349301206

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