Form 990 for tax year 2022
Filed by GEORGIA ADVANCED TECHNOLOGY VENTURES INC.
Totals
- Total revenue
- $31,669,077
- Total expenses
- $21,232,410
- Contributions and grants received
- $22,919
- Grants paid
- $1,103,391
- Program service revenue
- $24,205,352
- Investment income
- $85,048
- Other revenue
- $7,355,758
- Total assets, end of year
- $241,918,056
- Total liabilities, end of year
- $157,898,128
- Net assets or fund balances, end of year
- $84,019,928
- Program services expenses (Part IX)
- $20,345,930
- Management and general expenses
- $886,480
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $20,345,930
Program services were 95.8% 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.
-
1f · All other contributions, gifts and grants
$22,919
-
2a · Program service revenue: RENTAL INCOME
total $22,489,406 · related or exempt $22,489,406
-
2b · Program service revenue: PROGRAM EXPENSE REIMBURSEMENT
total $703,338 · related or exempt $703,338
-
2c · Program service revenue: DEVELOPMENT FEES
total $934,906 · related or exempt $934,906
-
2d · Program service revenue: MEMBERSHIP FEES
total $77,702 · related or exempt $77,702
-
3 · Investment income
total $85,048 · excluded $85,048
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: CONSULTING REVENUE
total $5,884,760 · related or exempt $5,884,760
-
11b · Other revenue: PROPERTY TAX CREDIT REVENUE
total $1,108,703 · related or exempt $1,108,703
-
11c · Other revenue: MISC INCOME
total $362,295 · related or exempt $362,295
-
11e · Other revenue, total
$7,355,758
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,103,391 · program services $1,103,391
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $157,957 · program services $157,957
-
11c · Fees: accounting
total $218,874 · program services $218,874
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $52,296 · program services $52,296
-
12 · Advertising and promotion
total $13,298 · program services $13,298
-
13 · Office expenses
total $10,060 · program services $10,060
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $5,016,518 · program services $5,016,518
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $4,565,832 · program services $4,565,832
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $3,136,534 · program services $3,136,534
-
23 · Insurance
total $245,670 · program services $245,670
-
24a · Other expenses: MANAGEMENT EXPENSES
total $4,664,273 · program services $3,830,668 · management and general $833,605
-
24b · Other expenses: REPAIRS & MAINTENANCE
total $1,620,488 · program services $1,620,488
-
24c · Other expenses: GATV MEMBERSHIPS
total $172,176 · program services $172,176
-
24d · Other expenses: BROKER FEES
total $92,450 · program services $92,450
-
24e · All other expenses
total $162,593 · program services $109,718 · management and general $52,875
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $18,083,923 · end of year $24,925,478
-
3 · Pledges and grants receivable
beginning of year $524,446 · end of year $497,365
-
4 · Accounts receivable
beginning of year $20,063 · end of year $183,302
-
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
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $8,005 · end of year $46,727
-
10a · Land, buildings and equipment: cost or other basis
$129,937,454
-
10b · Land, buildings and equipment: accumulated depreciation
$41,279,124
-
10c · Land, buildings and equipment, net
beginning of year $86,513,485 · end of year $88,658,330
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $98,781,009 · end of year $92,100,126
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $30,198,788 · end of year $35,506,728
-
17 · Accounts payable and accrued expenses
beginning of year $1,352,529 · end of year $1,578,771
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $13,145,489 · end of year $13,814,231
-
20 · Tax-exempt bond liabilities
beginning of year $45,395,000 · end of year $45,395,000
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $47,672,935 · end of year $45,086,398
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $47,066,861 · end of year $52,023,728
-
27 · Net assets without donor restrictions
beginning of year $79,337,985 · end of year $83,884,346
-
28 · Net assets with donor restrictions
beginning of year $158,920 · end of year $135,582
Mission and programs · 2022
Mission
THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY AS A SUPPORTING ORGANIZATION TO AND FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY TO FOSTER AND SUPPORT EDUCATION AND SCIENTIFIC RESEARCH AND ECONOMIC DEVELOPMENT THROUGHOUT THE STATE OF GEORGIA BY PROMOTING THE STATE OF GEORGIA FOR THE DEVELOPMENT OF NEW HIGH TECHNOLOGY RESEARCH AND INDUSTRY WITHIN THE STATE OF GEORGIA.
Activities or mission (Part I)
The corporation supports the georgia institute of technology to foster and support economic development and scientific research in the state of georgia.
-
Georgia Advanced Technology Ventures, Inc. provided support for technology transfer, commercialization, economic development, and relevant real estate development for the Georgia Institute of Technology, including the Advanced Technology Development Center (ATDC) incubator facilities.
Expenses $20,345,930 · Grants $1,103,391 · Revenue $31,561,110
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Steven McLaughlinSTEVEN MCLAUGHLIN
DIRECTOR
- Total calculated
- $625,172
- From this org
- $0
- From related orgs
- $568,353
- Other
- $56,819
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $483,353 related
- Bonus
- not reported
- Other
- not reported + $85,000 related
- Deferred
- not reported + $28,182 related
- Nontaxable benefits
- not reported + $28,637 related
- Filer's total
- not reported + $625,172 related
-
Chaouki Abdallah
Director
- Total calculated
- $506,911
- From this org
- $0
- From related orgs
- $417,734
- Other
- $89,177
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $417,734 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $59,704 related
- Nontaxable benefits
- not reported + $29,473 related
- Filer's total
- not reported + $506,911 related
-
Kelly FoxKELLY FOX
DIRECTOR
- Total calculated
- $426,432
- From this org
- $0
- From related orgs
- $379,885
- Other
- $46,547
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $372,998 related
- Bonus
- not reported
- Other
- not reported + $6,887 related
- Deferred
- not reported + $26,694 related
- Nontaxable benefits
- not reported + $19,853 related
- Filer's total
- not reported + $426,432 related
-
James G Fortner
Treasurer
- Total calculated
- $370,657
- From this org
- $0
- From related orgs
- $284,882
- Other
- $85,775
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- not reported + $284,682 related
- Bonus
- not reported + $200 related
- Other
- not reported
- Deferred
- not reported + $57,960 related
- Nontaxable benefits
- not reported + $27,815 related
- Filer's total
- not reported + $370,657 related
-
Anthony Zivalich
Vice President - REAL ESTATE
- Total calculated
- $343,453
- From this org
- $0
- From related orgs
- $267,367
- Other
- $76,086
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- not reported + $267,332 related
- Bonus
- not reported + $35 related
- Other
- not reported
- Deferred
- not reported + $54,416 related
- Nontaxable benefits
- not reported + $21,670 related
- Filer's total
- not reported + $343,453 related
-
Michael ShannonMICHAEL SHANNON
Director through 06/2023
- Total calculated
- $327,713
- From this org
- $0
- From related orgs
- $272,729
- Other
- $54,984
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $268,620 related
- Bonus
- not reported
- Other
- not reported + $4,109 related
- Deferred
- not reported + $53,749 related
- Nontaxable benefits
- not reported + $1,235 related
- Filer's total
- not reported + $327,713 related
-
David BridgesDAVID BRIDGES
VICE PRESIDENT - INNOVATION
- Total calculated
- $325,578
- From this org
- $0
- From related orgs
- $272,068
- Other
- $53,510
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- not reported + $272,058 related
- Bonus
- not reported + $10 related
- Other
- not reported
- Deferred
- not reported + $25,809 related
- Nontaxable benefits
- not reported + $27,701 related
- Filer's total
- not reported + $325,578 related
-
Jennifer HubertJENNIFER HUBERT
Assistant Treasurer
- Total calculated
- $277,277
- From this org
- $0
- From related orgs
- $215,271
- Other
- $62,006
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- not reported + $214,414 related
- Bonus
- not reported + $10 related
- Other
- not reported + $847 related
- Deferred
- not reported + $43,588 related
- Nontaxable benefits
- not reported + $18,418 related
- Filer's total
- not reported + $277,277 related
-
Amy E Herron
Former Officer
- Total calculated
- $258,711
- From this org
- $0
- From related orgs
- $188,390
- Other
- $70,321
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $184,077 related
- Bonus
- not reported + $200 related
- Other
- not reported + $4,113 related
- Deferred
- not reported + $38,894 related
- Nontaxable benefits
- not reported + $31,427 related
- Filer's total
- not reported + $258,711 related
-
Tanesha Steward
Secretary
- Total calculated
- $172,601
- From this org
- $0
- From related orgs
- $130,292
- Other
- $42,309
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- not reported + $130,292 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $26,476 related
- Nontaxable benefits
- not reported + $15,833 related
- Filer's total
- not reported + $172,601 related
-
Gail SpattGAIL SPATT
FORMER OFFICER
- Total calculated
- $170,384
- From this org
- $0
- From related orgs
- $106,647
- Other
- $63,737
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $106,149 related
- Bonus
- not reported + $45 related
- Other
- not reported + $453 related
- Deferred
- not reported + $23,999 related
- Nontaxable benefits
- not reported + $39,738 related
- Filer's total
- not reported + $170,384 related
-
Stephen CrossSTEPHEN CROSS
FORMER OFFICER
- Total calculated
- $158,423
- From this org
- $0
- From related orgs
- $158,423
- Other
- $0
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported + $158,423 related
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $158,423 related
-
Kelly MacArthurKELLY MACARTHUR
FORMER OFFICER
- Total calculated
- $148,889
- From this org
- $0
- From related orgs
- $112,135
- Other
- $36,754
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $111,529 related
- Bonus
- not reported + $135 related
- Other
- not reported + $471 related
- Deferred
- not reported + $23,030 related
- Nontaxable benefits
- not reported + $13,724 related
- Filer's total
- not reported + $148,889 related
-
Cortrella GreerCORTRELLA GREER
ASSISTANT SECRETARY
- Total calculated
- $96,108
- From this org
- $0
- From related orgs
- $73,520
- Other
- $22,588
- Hours/week
- 4 + 36 related
-
Holly SeelHOLLY SEEL
Assistant Treasurer
- Total calculated
- $49,085
- From this org
- $0
- From related orgs
- $38,684
- Other
- $10,401
- Hours/week
- 4 + 36 related
-
Sig Mosley
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Ben T Raney II
Director
- Total calculated
- $0
- Hours/week
- 1
-
Blake Patton
Director
- Total calculated
- $0
- Hours/week
- 1
-
Burunda PrinceBURUNDA PRINCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John LongJOHN LONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael RossMICHAEL ROSS
DIRECTOR
- 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
- 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)
- SCH. J, LINE 4B
- Kelly Fox, Former Director of the Organization, participated in a non-qualified supplemental retirement plan structured under IRS Section 415(m). No contributions were made to the plan in calendar year 2022.
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
-
GEORGIA INSTITUTE OF TECHNOLOGY
$588,684
support
-
$514,707
support
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.
-
GEORGIA INSTITUTE OF TECHNOLOGY
115 · EDU/RESEARCH · GA
Directly controlled by SEE DETAIL
-
501(C)(3) · RE DEVELOP · GA
Directly controlled by Georgia tech
-
501(C)(3) · COMM SERVICES · GA
Directly controlled by Georgia tech
-
GEORGIA TECH ATHLETIC ASSOCIATION
501(C)(3) · ATHLETICS · GA
Directly controlled by Georgia tech
-
501(C)(3) · CHILD CARE · GA
Directly controlled by Georgia tech
-
GEORGIA TECH RESEARCH CORPORATION
501(C)(3) · SPON RESEARCH · GA
Directly controlled by Georgia tech
-
GEORGIA TECH APPLIED RESEARCH CORPORATIO
501(C)(3) · SPON RESEARCH · GA
Directly controlled by GEORGIA TECH
-
501(C)(3) · SUPPORT EDU · GA · controlled entity
Directly controlled by Georgia tech
-
Global Center for medical innovation inc
501(c)(3) · MED DEV SUPP · GA
Directly controlled by Georgia tech
-
GEORGIA TECH PANAMA FOUNDATION
501(c)(3) · GLOBAL SUPPOR · PM
Directly controlled by GT GLOBAL
-
Georgia Tech Shenzhen Education Foundati
501(C)(3) · global suppor · CH
Directly controlled by GEORGIA TECH
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.
-
REAL ESTATE · GA · income $2,519,648 · assets $15,049,954
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $4,427,285 · assets $34,290,050
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $1,503,396 · assets $20,470,109
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $1,677,188 · assets $12,292,009
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $0 · assets -$49
Directly controlled by GATV INC
-
GATV INC GEORGIA TECH INNOVATION FUND
SEED FUNDING · GA · income $0 · assets $158,295
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $0 · assets $7,443,445
Directly controlled by GATV INC
-
GT REAL ESTATE SERVICES LLC
REAL ESTATE · GA · income $8,670,877 · assets $29,530,615
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $354,406 · assets $7,091,608
Directly controlled by GATV INC
-
GEORGIA TECH COBB RESEARCH CAMPUS LLC
REAL ESTATE · GA · income $4,435,117 · assets $62,333,566
Directly controlled by GATV INC
-
GEORGIA TECH COBB COUNTY INFRASTRUCTURE
REAL ESTATE · GA · income $0 · assets $0
Directly controlled by GATV INC
-
GEORGIA TECH COBB RESEARCH CAMPUS SOUTH
REAL ESTATE · GA · income $0 · assets $1,326,418
Directly controlled by GATV INC
-
TECH DEVELOP · GA · income $0 · assets $57,153
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $0 · assets $0
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $0 · assets $0
Directly controlled by GATV INC
-
REAL ESTATE · GA · income $0 · assets $0
Directly controlled by GATV INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401349349300030
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.