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← GEORGIA EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by GEORGIA EDUCATION FOUNDATION INC.

Totals

Total revenue
$89,750
Total expenses
$262,474
Contributions and grants received
$72,500
Grants paid
$0
Program service revenue
$17,250
Investment income
$0
Other revenue
$0
Total assets, end of year
$67,983
Total liabilities, end of year
$32,383
Net assets or fund balances, end of year
$35,600
Program services expenses (Part IX)
$156,711
Management and general expenses
$105,763
Fundraising expenses
$0
Program service expenses (Part III)
$156,711

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

    $72,500

  • 2a · Program service revenue: PROGRAM

    total $17,250 · related or exempt $17,250

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $10,317 · management and general $10,317

  • 11g · Fees: other

    total $223,150 · program services $148,960 · management and general $74,190

  • 12 · Advertising and promotion

    total $168 · management and general $168

  • 13 · Office expenses

    total $876 · program services $760 · management and general $116

  • 14 · Information technology

    total $36 · management and general $36

  • 17 · Travel

    total $2,763 · management and general $2,763

  • 19 · Conferences, conventions and meetings

    total $9,347 · program services $6,734 · management and general $2,613

  • 22 · Depreciation, depletion and amortization

    total $164 · management and general $164

  • 23 · Insurance

    total $613 · management and general $613

  • 24a · Other expenses: BAD DEBT

    total $10,000 · management and general $10,000

  • 24b · Other expenses: SERVICE FEES

    total $4,133 · management and general $4,133

  • 24c · Other expenses: AWARDS & GIFTS

    total $663 · program services $163 · management and general $500

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $150 · management and general $150

  • 24e · All other expenses

    total $94 · program services $94

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $205,442 · end of year $67,983

  • 4 · Accounts receivable

    beginning of year $10,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $633

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

    $822

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

    $822

  • 10c · Land, buildings and equipment, net

    beginning of year $370

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,121 · end of year $8,077

  • 25 · Other liabilities

    end of year $24,306

  • 27 · Net assets without donor restrictions

    beginning of year $208,324 · end of year $35,600

Mission and programs · 2023

Mission

TO PROVIDE EDUCATIONAL AND TRAINING OPPORTUNITIES FOR SMALL BUSINESS ENTERPRISES AND EMERGING ENTREPRENEURIAL IN ORDER TO DEVELOP CAPACITY THAT WILL DRIVE BUSINESS GROWTH AND CREATE JOBS.

Activities or mission (Part I)

SEE PART III, PAGE 2

  • THE MENTOR PROTEGE PROGRAM IS A BUSINESS DEVELOPMENT PROGRAM ADMINISTERED BY THE GEORGIA EDUCATION FOUNDATION, INC, THE EDUCATIONAL ARM OF GEORGIA MINORITY SUPPLIER DEVELOPMENT COUNCIL, INC (GMSDC). IT PROVIDES OPPORTUNITIES FOR GEORGIA SMALL BUSINESSES TO BENEFIT FROM A PARTNERSHIP WITH A CORPORATE MENTOR FOR A PERIOD OF ONE YEAR. EMERGING FIRMS CAN BUILD RELATIONSHIPS, EXPLORE NEW TECHNOLOGIES, LEARN ABOUT BEST PRACTICES AND BENEFIT FROM THE WISDOM OF CORPORATE EXECUTIVES WHO ARE COMMITTED TO THE LONG-TERM HEALTH AND OVERALL GROWTH OF SMALL BUSINESSES IN GEORGIA. THE GOAL OF THE PROGRAM IS TO HELP SMALL BUSINESSES TO BE SUCCESSFUL OVER THE LONG HAUL, BY HELPING THEM TO DEVELOP CAPACITY, ENHANCE THEIR SKILL SETS AND BECOME MORE COMPETITIVE. RESEARCH HAS SHOWN THAT ACCESS TO THE RIGHT KIND OF COACHING AND MENTORING SIGNIFICANTLY INCREASES THE SUCCESS RATE IN SMALL BUSINESS, WHILE BOTH THE MENTOR AND THE PROTEGE BENEFIT TREMENDOUSLY FROM THEIR INTERACTION.

    Expenses $156,711 · Revenue $17,250

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Robinson

    BOARD CHAIRM

    Total calculated
    $0
    Hours/week
    5

  • Stacey Key

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Ken Huff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Sidd Ahmed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Wassel Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Glenda Stinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.0
Source object
202413179349305936

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