Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $163,248

• 1f · All other contributions, gifts and grants

  $2,507,289

• 1g · Noncash contributions included above

  $65,156

• 3 · Investment income

  total $1,152,993 · excluded $1,152,993

• 6a · Gross rents

  real property $130,972

• 6b · Less rental expenses

  real property $200,935

• 6c · Rental income or loss

  real property -$69,963

• 6d · Net rental income or loss

  total -$69,963 · excluded -$69,963

• 7a · Gross sales of assets other than inventory

  securities $1,600,801

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

  securities $1,724,732 · other assets $370,562

• 7c · Gain or loss

  securities -$123,931 · other assets -$370,562

• 7d · Net gain or loss

  total -$494,493 · excluded -$494,493

• 8a · Fundraising events: gross income

  $48,510

• 8a · Fundraising events: contributions included on line 1c

  $163,248

• 8b · Fundraising events: direct expenses

  $133,553

• 8c · Net income from fundraising events

  total -$85,043 · excluded -$85,043

• 11a · Other revenue: REIMBURSEMENTS

  total $40,019 · excluded $40,019

• 11e · Other revenue, total

  $40,019

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,468,254 · program services $2,468,254

• 5 · Compensation of officers, directors and key employees

  total $91,263 · management and general $91,263

• 11c · Fees: accounting

  total $55,514 · management and general $55,514

• 11f · Fees: investment management

  total $130,258 · management and general $130,258

• 11g · Fees: other

  total $7,431 · management and general $7,431

• 12 · Advertising and promotion

  total $28,309 · program services $28,032 · fundraising $277

• 13 · Office expenses

  total $97,655 · program services $77,354 · management and general $14,777 · fundraising $5,524

• 16 · Occupancy

  total $5,453 · program services $4,119 · management and general $819 · fundraising $515

• 17 · Travel

  total $31,682 · program services $23,468 · management and general $2,076 · fundraising $6,138

• 19 · Conferences, conventions and meetings

  total $417,854 · program services $387,831 · management and general $9,263 · fundraising $20,760

• 20 · Interest

  total $75,183 · management and general $75,183

• 22 · Depreciation, depletion and amortization

  total $41,937 · management and general $41,937

• 23 · Insurance

  total $13,670 · management and general $13,670

• 24a · Other expenses: DESTINATION AG

  total $285,427 · program services $283,976 · management and general $1,451

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $172,775 · program services $172,059 · management and general $716

• 24c · Other expenses: DUES & SUBSCRIPTIONS

  total $6,770 · program services $5,180 · management and general $1,391 · fundraising $199

• 24d · Other expenses: TAXES

  total $394 · management and general $394

• 24e · All other expenses

  total $20,403 · program services $3,158 · management and general $15,299 · fundraising $1,946

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $725,588 · end of year $550,640

• 2 · Savings and temporary cash investments

  beginning of year $5,089,465 · end of year $4,731,111

• 3 · Pledges and grants receivable

  beginning of year $165,197 · end of year $824,878

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

  $8,142,896

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

  $1,048,052

• 10c · Land, buildings and equipment, net

  beginning of year $8,437,782 · end of year $7,094,844

• 11 · Investments: publicly traded securities

  beginning of year $28,473,706 · end of year $30,931,963

• 15 · Other assets

  beginning of year $511,463 · end of year $324,368

• 17 · Accounts payable and accrued expenses

  beginning of year $1,419,536 · end of year $83,029

• 23 · Secured mortgages and notes payable

  beginning of year $1,760,000 · end of year $1,760,000

• 25 · Other liabilities

  beginning of year $0 · end of year $25,288

• 27 · Net assets without donor restrictions

  beginning of year $17,926,289 · end of year $18,598,825

• 28 · Net assets with donor restrictions

  beginning of year $22,297,376 · end of year $23,990,662

The filer's explanations (Part III)

FORM 990 PART VII LINE 5

JODIE SNOW, COO, IS COMPENSATED BY ABRAHAM BALDWIN AGRICULTURAL COLLEGE, AN UNRELATED ENTITY FOR SERVICES PROVIDED TO THE FOUNDATION. JODIE SNOW WORKS 55% OF THE TIME FOR THE FOUNDATION AND 45% OF THE TIME FOR THE COLLEGE. THE COLLEGE IS REIMBURSED FOR THE FOUNDATION'S SHARE OF SALARIES, BENEFITS, AND TAXES. FORM 990, PART VII REFLECTS 55% OF HER 2023 CALENDAR COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ABAC PROGRAMMATIC PROPERTIES LLC

  REAL ESTATE · GA · income $35,412 · assets $2,348,384

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE

• ABAC INVESTMENT REAL ESTATE LLC

  REAL ESTATE · GA · income $95,239 · assets $930,784

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE

• ABAC CASTRO COUNTY LLC

  REAL ESTATE · GA · income $0 · assets $0

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE

• ABAC FOREST LLC

  REAL ESTATE · GA · income $21,801 · assets $3,125,768

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE

• ABAC GOLF COURSE LLC

  REAL ESTATE · GA · income $0 · assets $634,752

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• STAFFORD FOUNDATION HOLDINGS INC

  C · REAL ESTATE · GA · share of income $131,208 · share of assets $128,160

  Directly controlled by ABRAHAM BALDWIN AGRICULTURAL COLLEGE FOUNDATION INC