Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1999.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
93 cents of each dollar spent went to programs.
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
16 people listed on the 990.
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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
Helps cities fund and revitalize underserved downtown areas with development aid.
Questions for Georgia Cities Foundation INC
Your first name shows with your question. Georgia Cities Foundation INC answers here, for everyone.
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The development revolving loan program provides loans based on leadership, accountability, long-term sustainability, and potential for private investment. The projects encourage spin-off development, add jobs, promote downtown housing, or add to cultural enrichment of the community.
The energy rebate program provides rebates for energy efficient upgrades to commercial buildings up to twenty five percent of the cost of the eligible energy efficiency improvements with a maximum of $100,000 per location.
Conferences to educate and inform state leaders on the importance of successful downtown development and its role in supporting overall economic development efforts for regions and communities.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $7.0M | $5.5M |
| Total assetsLn 16 | $18.2M | $21.1M |
| LiabilitiesLn 26 | $1.1M | $1.1M |
| Net assetsLn 32 | $17.1M | $20.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Management feesLn 11a | $331K | $331K | ||
| Accounting feesLn 11c | $23K | $23K | ||
| Advertising and promotionLn 12 | $259 | $259 | ||
| Office expensesLn 13 | $843 | $843 | ||
| TravelLn 17 | $1K | $904 | $256 | |
| InterestLn 20 | $5K | $5K | ||
| InsuranceLn 23 | $3K | $3K | ||
| Other expenses (24a–d)Ln 24 | $253K | $243K | $10K | |
| Total functional expensesLn 25 | $618K | $576K | $42K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $3.6M | $618K | $3.0M | $20.1M | 990 PDF |
| FY2023 | $813K | $400K | $412K | $17.1M | 990 PDF |
| FY2022 | $330K | $860K | −$530K | $16.7M | 990 PDF |
| FY2021 | $2.2M | $440K | $1.7M | $17.2M | 990 PDF |
| FY2020 | $344K | $438K | −$95K | $15.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $3,601,950 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, 4 to look at
Part VIII · Statement of revenue $3,601,950 across 6 lines filed
Part IX · Statement of functional expenses $617,526 across 8 lines filed
Part X · Balance sheet $21,110,417 assets, 10 lines filed
Part XI · Reconciliation of net assets $20,052,205 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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