Foundation Properties INC FY2022 filing

Tax-deductible

Columbus, GA501(c)(3)Since 1988EducationEIN 58-1940977

This page gets seen. Tell your story. Claim this org.

The principle purpose of Foundation Properties, Inc. shall be to promote the cause of higher education at Columbus State University, a unit of the University System of Georgia located in Columbus, GA, specifically through the management of real property affiliated with the University, holding real property for future development by the University and holding investment property for the benefit of the University.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 5
filings with a surplus
Average deficit $725K a year · 15% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$55.2M
69% of total assets
Worth a look: liabilities are 69% of assets; over 65%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
+4% vs prior year
Spent
$4.6M
To programs
91%
Net assets
$25.2M
By yearFY2020–FY2024
Revenue
$6.2M
FY2022▲ +4%
Revenue by fiscal year
FY2020$6.7M
FY2021$5.9M
FY2022$6.2M
FY2023$5.4M
FY2024$596K
FY2024$4.1M
Expenses
$4.6M
FY2022▼ -29%
Expenses by fiscal year
FY2020$8.5M
FY2021$6.5M
FY2022$4.6M
FY2023$4.7M
FY2024$4.3M
FY2024$2.4M
Net assets
$25.2M
FY2022▲ +4%
Net assets by fiscal year
FY2020$24.2M
FY2021$24.3M
FY2022$25.2M
FY2023$25.2M
FY2024$21.5M
FY2024$23.1M

From the FY2022 Form 990 (year ending July 2022) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Apr 1999.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $4.1M Management & general 9% · $432K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Ex-Officio Trustee
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foundation Properties INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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

Manages real estate to support higher education at Columbus State University.

Provided by the organization

Know this organization? Claim it to add your story

2 programs · $4.1M · in their own filed words · FY2021
01

Holding, management and contribution of real property in support of Columbus State University.

$4.1Mprogram expense
02

Miscellaneous income primarily consisting of parking fees and application fees for student housing.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $152K · 2020–2024
Columbus State UniverityFY2024$22,469
Columbus State UniverityFY2023$28,123
Columbus State UniverityFY2022$44,795
Columbus State UniverityFY2021$18,334
Columbus State UniverityFY2020$38,413

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Fees for servicesLn 2g$5.7M
Investment incomeLn 3$396K
Other incomeLn 4–11$74K
Money outPt IX
$4.6M
Ln 25
Programscol B$4.1M
Managementcol C$432K
Owns and owesPt X
$25.2M
net assets · Ln 32
Cash and savingsLn 1–2$5.8M
Total assetsLn 16$80.4M
LiabilitiesLn 26$55.2M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$5.7M
Investment incomeLn 3$396K
Other incomeLn 4–11$74K
Gains on assetsLn 7$138K
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$592K
SavingsLn 2$5.2M
Cash and savings togetherLn 1–2$5.8M
InvestmentsLn 11–13$5.5M
Land, buildings, equipmentLn 10c$41.7M
Other assetsLn 15$24.3M
Total assetsLn 16$80.4M
LiabilitiesLn 26$55.2M
Net assetsLn 32$25.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$4.9M$5.8M
InvestmentsLn 11–13$6.0M$5.5M
Land, buildings, equipmentLn 10c$43.5M$41.7M
Total assetsLn 16$109.2M$80.4M
LiabilitiesLn 26$84.9M$55.2M
Net assetsLn 32$24.3M$25.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$18K$18K
Pay of disqualified personsLn 6$52K$52K
Other salaries and wagesLn 7$143K$23K$120K
Other employee benefitsLn 9$41K$7K$34K
Payroll taxesLn 10$52K$52K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$31K$31K
Investment management feesLn 11f$29K$29K
Other fees for servicesLn 11g$10K$10K
Office expensesLn 13$423$423
OccupancyLn 16$28K$28K
TravelLn 17$7K$7K
Conferences, conventions and meetingsLn 19$42$42
InterestLn 20$1.1M$1.1M
Depreciation, depletion and amortizationLn 22$2.1M$2.1M
InsuranceLn 23$258K$251K$8K
Other expenses (24a–d)Ln 24$612K$533K$80K
All other expensesLn 24e$99K$95K$3K
Total functional expensesLn 25$4.6M$4.1M$432K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $596K$4.3M−$3.7M$21.5M 990 PDF
FY2023 $5.4M$4.7M$742K$25.2M 990 PDF
FY2022 Viewing $6.2M$4.6M$1.6M$25.2M 990 PDF
FY2021 $5.9M$6.5M−$546K$24.3M 990 PDF
FY2020 $6.7M$8.5M−$1.7M$24.2M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2022 990 (5 parts)
Part I · Summary $6,179,282 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $5,607,795$5,709,911
I-10 Investment incomePrior year $417,322$395,817
I-11 Other revenuePrior year −$102,236$73,554
I-12 Total revenuePrior year $5,922,881$6,179,282
I-13 Grants and similar amounts paidPrior year $38,413$18,334
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $307,527$288,181
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,122,442$4,256,967
I-18 Total expensesPrior year $6,468,382$4,563,482
I-19 Revenue less expensesPrior year −$545,501$1,615,800
Part VIII · Statement of revenue $6,179,282 across 6 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,709,911$5,709,911
VIII-3 Investment incomeExcluded from tax $258,093$258,093
VIII-6 Net rental income or lossUnrelated business −$118,935−$118,935
VIII-7 Net gain or loss on sales of assetsExcluded from tax $137,724$137,724
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $192,489$192,489
VIII-12 Total revenueRelated to mission $5,902,400 · Unrelated business −$118,935 · Excluded from tax $395,817$6,179,282
Part IX · Statement of functional expenses $4,563,482 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $18,334$18,334
IX-6 Pay of disqualified personsManagement $52,424$52,424
IX-7 Other salaries and wagesPrograms $23,047 · Management $119,749$142,796
IX-9 Other employee benefitsPrograms $6,654 · Management $34,108$40,762
IX-10 Payroll taxesManagement $52,199$52,199
IX-11b Legal feesManagement $5,282$5,282
IX-11c Accounting feesManagement $30,900$30,900
IX-11f Investment management feesManagement $29,319$29,319
IX-11g Other fees for servicesManagement $10,000$10,000
IX-13 Office expensesManagement $423$423
IX-16 OccupancyPrograms $28,496$28,496
IX-17 TravelManagement $6,952$6,952
IX-19 Conferences, conventions and meetingsManagement $42$42
IX-20 InterestPrograms $1,116,415$1,116,415
IX-22 Depreciation, depletion and amortizationPrograms $2,060,228$2,060,228
IX-23 InsurancePrograms $250,728 · Management $7,559$258,287
IX-24 Other expenses (24a–d)Programs $532,530 · Management $79,533$612,063
IX-24e All other expensesPrograms $95,431 · Management $3,129$98,560
IX-25 Total functional expensesPrograms $4,131,863 · Management $431,619 · Fundraising $0$4,563,482
Part X · Balance sheet $80,383,881 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $312,695$591,987
X-2 Savings and temporary cash investmentsStart of year $4,636,025$5,174,527
X-3 Pledges and grants receivableStart of year $1,413,594$995,854
X-4 Accounts receivableStart of year $1,966,768$2,052,924
X-9 Prepaid expenses and deferred chargesStart of year $9,280$10,069
X-10c Land, buildings and equipment, netStart of year $43,526,448$41,736,971
X-11 Publicly traded securitiesStart of year $6,013,885$5,519,874
X-15 Other assetsStart of year $51,365,415$24,301,675
X-16 Total assetsStart of year $109,244,110$80,383,881
X-17 Accounts payable and accrued expensesStart of year $46,588,848$19,492,126
X-19 Deferred revenueStart of year $1,219$1,219
X-20 Tax-exempt bond liabilitiesStart of year $30,153,912$28,149,295
X-25 Other liabilitiesStart of year $224,086$260,900
X-26 Total liabilitiesStart of year $84,897,977$55,161,012
X-27 Net assets without donor restrictionsStart of year $24,346,133$25,222,869
X-32 Total net assets or fund balancesStart of year $24,346,133$25,222,869
X-33 Total liabilities and net assetsStart of year $109,244,110$80,383,881
Part XI · Reconciliation of net assets $25,222,869 net assets at year end
XI-1 Total revenue$6,179,282
XI-2 Total expenses$4,563,482
XI-3 Revenue less expenses$1,615,800
XI-4 Net assets at start of year$24,346,133
XI-5 Net unrealized gains (losses) on investments−$739,060
XI-9 Other changes in net assets−$4
XI-10 Net assets at end of year$25,222,869

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.