Georgia Tech Facilities INC FY2021 filing

Tax-deductible

Atlanta, GA501(c)(3)Since 1985EducationEIN 52-1442293

The purpose for which the corporation is organized is to promote and support the georgia institute of technology, an instrumentality of the board of regents of the state university system of georgia and to erect such suitable buildings and other facilities as may be appropriate to the needs and goals of the institute. Georgia tech facilities, INC. Provided financing as appropriate to meet the needs and goals of the georgia institute of technology.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $3.4M a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
59 mo
of spending, in cash
Looks good: 58.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $39.3M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$364.5M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.5M
-1% vs prior year
Spent
$14.3M
To programs
98%
Net assets
$42.5M
By yearFY2020–FY2024
Revenue
$14.5M
FY2021▼ -1%
Revenue by fiscal year
FY2020$14.7M
FY2021$14.5M
FY2022$11.7M
FY2023$20.6M
FY2024$40.0M
FY2024$88.7M
Expenses
$14.3M
FY2021▲ +7%
Expenses by fiscal year
FY2020$13.3M
FY2021$14.3M
FY2022$11.8M
FY2023$43.7M
FY2024$35.5M
FY2024$12.3M
Net assets
$42.5M
FY2021▲ +2%
Net assets by fiscal year
FY2020$41.7M
FY2021$42.5M
FY2022$42.4M
FY2023$19.4M
FY2024$23.8M
FY2024$100.2M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1987.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $14.1M Management & general 2% · $253K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Director (-10/2020)
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Former Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Director (-12/2020)
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
See Georgia Tech Facilities INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and supports facilities for Georgia Tech to achieve its goals.

Provided by the organization

This section is blank until Georgia Tech Facilities INC claims this page.

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1 program service account for $14.1M of program spending, described in the organization's own filed words · FY2020.
01

Georgia Tech Facilities, Inc. provided financing and contracting support for the design and construction of buildings and other facilities as appropriate to meet the needs and goals of the Georgia Institute of Technology. Georgia Tech Facilities, Inc. leases these buildings and other facilities to the Georgia Institute of Technology.

$14.1Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$39.3M
Grants paid · 8 grants · $53.9M · 2019–2024
Georgia Institute of TechnologyGA · FY2024$1,670,668
Georgia Institute of TechnologyGA · FY2023$13,291,891
Georgia Institute of TechnologyGA · FY2022$29,769,369
Georgia Institute of TechnologyGA · FY2021$1,058,981
Georgia Institute of TechnologyGA · FY2020$2,149,159
Georgia Institute of TechnologyGA · FY2019$1,385,946

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$14.5M
Ln 12
Fees for servicesLn 2g$14.4M
Investment incomeLn 3$78K
Other incomeLn 4–11$37
Money outPt IX
$14.3M
Ln 25
Programscol B$14.1M
Managementcol C$253K
Owns and owesPt X
$42.5M
net assets · Ln 32
Cash and savingsLn 1–2$70.2M
Total assetsLn 16$407.1M
LiabilitiesLn 26$364.5M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.4M
Investment incomeLn 3$78K
Other incomeLn 4–11$37
Gains on assetsLn 7$0
Total revenueLn 12$14.5M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$70.2M
Cash and savings togetherLn 1–2$70.2M
InvestmentsLn 11–13$249.8M
Land, buildings, equipmentLn 10c$25.5M
Other assetsLn 15$53.5M
Total assetsLn 16$407.1M
LiabilitiesLn 26$364.5M
Net assetsLn 32$42.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$106.2M$70.2M
InvestmentsLn 11–13$237.7M$249.8M
Land, buildings, equipmentLn 10c$24.7M$25.5M
Total assetsLn 16$430.0M$407.1M
LiabilitiesLn 26$388.2M$364.5M
Net assetsLn 32$41.7M$42.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.1M$2.1M
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$70K$70K
Accounting feesLn 11c$62K$62K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$8K$8K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$194K$194K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$7.6M$7.6M
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$3.2M$3.2M
InsuranceLn 23$691K$670K$21K
Other expenses (24a–d)Ln 24$275K$183K$92K
All other expensesLn 24e$24K$24K
Total functional expensesLn 25$14.3M$14.1M$253K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $40.0M$35.5M$4.4M$23.8M 990 PDF
FY2023 $20.6M$43.7M−$23.1M$19.4M 990 PDF
FY2022 $11.7M$11.8M−$42K$42.4M 990 PDF
FY2021 Viewing $14.5M$14.3M$172K$42.5M 990 PDF
FY2020 $14.7M$13.3M$1.4M$41.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $14,504,049 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,426,237$14,426,237
VIII-3 Investment incomeExcluded from tax $77,775$77,775
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $37$37
VIII-12 Total revenueRelated to mission $14,426,237 · Excluded from tax $77,812$14,504,049
Part IX · Statement of functional expenses $14,332,503 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $2,149,159$2,149,159
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $70,357$70,357
IX-11c Accounting feesManagement $62,000$62,000
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $7,753$7,753
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $193,750$193,750
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $7,633,307$7,633,307
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $3,226,767$3,226,767
IX-23 InsurancePrograms $669,638 · Management $21,014$690,652
IX-24 Other expenses (24a–d)Programs $182,821 · Management $92,286$275,107
IX-24e All other expensesPrograms $23,651$23,651
IX-25 Total functional expensesPrograms $14,079,093 · Management $253,410 · Fundraising $0$14,332,503
Part X · Balance sheet $407,064,936 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $106,167,374$70,213,471
X-3 Pledges and grants receivableStart of year $5,448,152$4,834,848
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $3,378,778$3,136,573
X-10c Land, buildings and equipment, netStart of year $24,729,893$25,540,457
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $237,707,757$249,833,609
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $52,518,441$53,505,978
X-16 Total assetsStart of year $429,950,395$407,064,936
X-17 Accounts payable and accrued expensesStart of year $4,724,339$3,562,507
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $9,196,454$9,513,546
X-20 Tax-exempt bond liabilitiesStart of year $320,085,000$297,650,000
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $54,216,866$53,808,545
X-26 Total liabilitiesStart of year $388,222,659$364,534,598
X-27 Net assets without donor restrictionsStart of year $33,790,137$37,154,496
X-28 Net assets with donor restrictionsStart of year $7,937,599$5,375,842
X-32 Total net assets or fund balancesStart of year $41,727,736$42,530,338
X-33 Total liabilities and net assetsStart of year $429,950,395$407,064,936
Part XI · Reconciliation of net assets $42,530,338 net assets at year end
XI-1 Total revenue$14,504,049
XI-2 Total expenses$14,332,503
XI-3 Revenue less expenses$171,546
XI-4 Net assets at start of year$41,727,736
XI-9 Other changes in net assets$631,056
XI-10 Net assets at end of year$42,530,338

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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