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Georgia Certified Development Corporation

Not tax-deductible

Sandy Springs, GA501(c)(4) EIN 58-1919598Revenue $961K in FY2024

On file with the IRSgacdc.com5855 Sandy Springs Cir Ste 300, 30328-6275 · Sandy Springs, GATax-exempt since Aug 1994

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Facilitate Economic Development

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 6
filings with a surplus
Average deficit $5K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: -0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$537K
154% of total assets
Concern: liabilities are 154% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 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
$961K
-15% vs prior year
Spent
$1.1M
To programs
68%
Net assets
−$187K
By yearFY2019–FY2024
Revenue
$961K
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2019$1.1M
FY2020$775K
FY2021$1.1M
FY2022$986K
FY2023$1.1M
FY2024$961K
Expenses
$1.1M
FY2024+0.09%
Tap a bar for its year
Expenses by fiscal year
FY2019$910K
FY2020$940K
FY2021$1.1M
FY2022$1.0M
FY2023$1.1M
FY2024$1.1M
Net assets
−$187K
FY2024▼ -277%
Tap a bar for its year
Net assets by fiscal year
FY2019$266K
FY2020$21K
FY2021$82K
FY2022$12K
FY2023$106K
FY2024−$187K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1994.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $736K Management & general 32% · $339K

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

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Marva Bryan
Director
$0Pt VII · Sec A
Michael Broadbear
Chairmansecretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Keith Patel
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Thomas
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Georgia Certified Development Corporation 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

Promotes economic growth and opportunity for communities.

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1 program · $736K · in their own filed words · FY2024
01

Approved loans under SBA 504 loan program. These loans resulted in the creation or retention of jobs.

$736Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$961K
Ln 12
Fees for servicesLn 2g$960K
Other incomeLn 4–11$976
Money outPt IX
$1.1M
Ln 25
Programscol B$736K
Managementcol C$339K
Owns and owesPt X
−$187K
net assets · Ln 32
Cash and savingsLn 1–2−$8K
Total assetsLn 16$350K
LiabilitiesLn 26$537K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$960K
Other incomeLn 4–11$976
Total revenueLn 12$961K
Assets in detailPt X, end of year
CashLn 1−$8K
Cash and savings togetherLn 1–2−$8K
Land, buildings, equipmentLn 10c$60K
Total assetsLn 16$350K
LiabilitiesLn 26$537K
Net assetsLn 32−$187K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$7K−$8K
Land, buildings, equipmentLn 10c$2K$60K
Total assetsLn 16$524K$350K
LiabilitiesLn 26$419K$537K
Net assetsLn 32$106K−$187K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$332K$249K$83K
Other salaries and wagesLn 7$322K$307K$15K
Other fees for servicesLn 11g$180K$68K$112K
Office expensesLn 13$14K$3K$11K
Information technologyLn 14$4K$2K$2K
OccupancyLn 16$17K$9K$9K
TravelLn 17$412$398$14
Depreciation, depletion and amortizationLn 22$60K$30K$30K
InsuranceLn 23$91K$49K$41K
Other expenses (24a–d)Ln 24$43K$12K$31K
All other expensesLn 24e$12K$7K$4K
Total functional expensesLn 25$1.1M$736K$339K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $961K$1.1M−$114K−$187K 990 PDF
FY2023 $1.1M$1.1M$52K$106K 990 PDF
FY2022 $986K$1.0M−$53K$12K 990 PDF
FY2021 $1.1M$1.1M$61K$82K 990 PDF
FY2020 $775K$940K−$165K$21K 990 PDF
FY2019 $1.1M$910K$190K$266K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $961,112 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,126,470$960,136
I-10 Investment income$0
I-11 Other revenue$976
I-12 Total revenuePrior year $1,126,470$961,112
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $772,574$653,740
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $301,642$421,473
I-18 Total expensesPrior year $1,074,216$1,075,213
I-19 Revenue less expensesPrior year $52,254−$114,101
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $961,112 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $960,136$960,136
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $976$976
VIII-12 Total revenueRelated to mission $961,112 · Unrelated business $0 · Excluded from tax $0$961,112
Part IX · Statement of functional expenses $1,075,213 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $248,510 · Management $83,352$331,862
IX-7 Other salaries and wagesPrograms $307,169 · Management $14,709$321,878
IX-11g Other fees for servicesPrograms $67,868 · Management $112,392$180,260
IX-13 Office expensesPrograms $2,733 · Management $10,931$13,664
IX-14 Information technologyPrograms $1,890 · Management $1,890$3,780
IX-16 OccupancyPrograms $8,736 · Management $8,736$17,472
IX-17 TravelPrograms $398 · Management $14$412
IX-22 Depreciation, depletion and amortizationPrograms $30,130 · Management $30,130$60,260
IX-23 InsurancePrograms $49,412 · Management $41,386$90,798
IX-24 Other expenses (24a–d)Programs $11,861 · Management $31,346$43,207
IX-24e All other expensesPrograms $7,304 · Management $4,316$11,620
IX-25 Total functional expensesPrograms $736,011 · Management $339,202 · Fundraising $0$1,075,213
Part X · Balance sheet $349,650 assets, 11 lines filed
Asset lines not itemized here account for $6,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $6,514−$8,088
X-4 Accounts receivableStart of year $386,953$287,159
X-9 Prepaid expenses and deferred chargesStart of year $4,262$4,262
X-10c Land, buildings and equipment, netStart of year $2,363$60,317
X-16 Total assetsStart of year $524,307$349,650
X-17 Accounts payable and accrued expensesStart of year $1,662$4,626
X-25 Other liabilitiesStart of year $416,990$532,228
X-26 Total liabilitiesStart of year $418,652$536,854
X-27 Net assets without donor restrictionsStart of year $105,655−$187,204
X-32 Total net assets or fund balancesStart of year $105,655−$187,204
X-33 Total liabilities and net assetsStart of year $524,307$349,650
Part XI · Reconciliation of net assets −$187,204 net assets at year end
XI-1 Total revenue$961,112
XI-2 Total expenses$1,075,213
XI-3 Revenue less expenses−$114,101
XI-4 Net assets at start of year$105,655
XI-9 Other changes in net assets−$178,758
XI-10 Net assets at end of year−$187,204

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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