501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$4.1M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $127.3M a year · 48% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.1M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $2.60B in investments, Pt X · Ln 11–13
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $355K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$577.4M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
53
of 54 voting members
Looks good: 53 of 54 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$239.0M
-16% vs prior year
Spent
$154.1M
To programs
80%
Net assets
$2.5B
By yearFY2020–FY2025
Revenue
$239.0M
FY2023▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$131.6M
FY2021$246.3M
FY2022$283.9M
FY2023$239.0M
FY2024$282.8M
FY2025$412.9M
Expenses
$154.1M
FY2023▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$94.4M
FY2021$99.7M
FY2022$118.4M
FY2023$154.1M
FY2024$157.5M
FY2025$208.3M
Net assets
$2.5B
FY2023▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8B
FY2021$2.5B
FY2022$2.4B
FY2023$2.5B
FY2024$2.8B
FY2025$3.1B

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1944.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $122.9M Management & general 16% · $24.3M Fundraising 5% · $7.0M

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

62 people listed on the 990; $4.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chief Investment Officer
$1,343,187Pt VII · Sec A
President & COO
$624,400Pt VII · Sec A
Managing Director - Diversifying Strategies
$591,306Pt VII · Sec A
Managing Director - Private Investments
$493,834Pt VII · Sec A
CFO & Secretary
$374,832Pt VII · Sec A
Chief Information Officer
$228,260Pt VII · Sec A
Portfolio Manager - Real Estate/Energy
$221,635Pt VII · Sec A
Manager - Risk and Asset Allocation
$218,308Pt VII · Sec A

Brian Pellegrino’s $1.6M as Chief Investment Officer is at the 87th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Brian Pellegrino$1,627,553$1,520,778$1,343,187$1,414,664$1,384,455$736,407
Alfredo Trujillo$724,023$696,256$624,400$618,055$391,729$486,285
Lu Yan$637,047$582,398$591,306$518,341$336,779—
Patrick Liu$616,568$543,594$493,834$418,269$258,427$227,512
Cynthia Pekrul$394,836$39,933————
Mark Delorenzo—$247,303$374,832$332,895$273,789$92,194
Brook Scardina—————$346,511
John Crist$267,600$228,265$218,308———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Georgia Tech Foundation 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 15aYes

Programs and updates

Funds alumni programs and student activities for Georgia Tech.

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Provided by the organization

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3 programs · $99.5M · in their own filed words · FY2022
01

Academic and Research Program Support

The foundation provides support for many academic programs and some research programs at georgia tech. This funding includes faculty support through endowed chairs and professorships, curriculum development, faculty grants, library support and renovation and construction of facilities.

$58.5Mprogram expense
02

Scholarships and Fellowships

The foundation provides funding for grants, scholarships, fellowships and loan funds for undergraduate and graduate students at georgia tech. The office of financial aid and academic units at georgia tech select the recipients of the scholarships and fellowships.

$38.2Mprogram expense
03

Alumni Association

The foundation provides funding for the georgia tech alumni association, which provides programs for georgia tech alumni and students.

$2.8Mprogram expense

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 · FY2025
See all 10 funders →
Grants paid · 46 grants · $640.0M · 2019–2024
Georgia Institute of TechnologyGA · FY2024$116,593,824
Georgia Tech Facilities INCGA · FY2024$39,297,303
Emory UniversityGA · FY2024$888,959
University of WashingtonFY2024$100,000
Georgia Tech Global INCFY2024$85,000
Morehouse CollegeGA · FY2024$50,000
Albany State UniversityFY2024$50,000
Clark Atlanta University INCGA · FY2024$47,393
Tuskegee UniversityAL · FY2024$24,014
Savannah State UniversityFY2024$17,500
Jackson State UniversityMS · FY2024$14,450
Spelman CollegeGA · FY2024$9,616
Georgia Institute of TechnologyGA · FY2023$108,067,378
See all 46 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$239.0M
Ln 12
Gifts and grantsLn 1h$120.7M
Investment incomeLn 3$109.9M
Other incomeLn 4–11$7.7M
Money outPt IX
$154.1M
Ln 25
Programscol B$122.9M
Managementcol C$24.3M
Fundraisingcol D$7.0M
Owns and owesPt X
$2.5B
net assets · Ln 32
Cash and savingsLn 1–2$19.6M
Total assetsLn 16$3.1B
LiabilitiesLn 26$577.4M
PeoplePt VI, VII
62
listed · VII A
PaidVII A8
Voting boardVI 1a54
IndependentVI 1b53
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$120.7M
Noncash giftsLn 1g$23.8M
Fees for servicesLn 2g$698K
Investment incomeLn 3$109.9M
Other incomeLn 4–11$7.7M
Gains on assetsLn 7$87.2M
Total revenueLn 12$239.0M
Assets in detailPt X, end of year
SavingsLn 2$19.6M
Cash and savings togetherLn 1–2$19.6M
InvestmentsLn 11–13$2.60B
Land, buildings, equipmentLn 10c$226.2M
Other assetsLn 15$132.3M
Total assetsLn 16$3.1B
LiabilitiesLn 26$577.4M
Net assetsLn 32$2.5B
OperationsPt I, VI
EmployeesI 554
VolunteersI 6150
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 FY23End FY23
Cash and savingsLn 1–2$28.1M$19.6M
InvestmentsLn 11–13$2.56B$2.60B
Land, buildings, equipmentLn 10c$230.3M$226.2M
Total assetsLn 16$3.07B$3.11B
LiabilitiesLn 26$623.4M$577.4M
Net assetsLn 32$2.45B$2.53B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$114.3M$114.3M
Pay of current officers, directors and key staffLn 5$2.4M$2.4M
Other salaries and wagesLn 7$4.7M$4.7M
Pension plan contributionsLn 8$429K$429K
Other employee benefitsLn 9$456K$456K
Payroll taxesLn 10$322K$322K
Management feesLn 11a$36K$36K
Legal feesLn 11b$174K$38K$136K
Accounting feesLn 11c$324K$324K
Lobbying feesLn 11d$38K$38K
Investment management feesLn 11f$10.1M$10.1M
Other fees for servicesLn 11g$2.3M$285K$2.0M
Office expensesLn 13$1.5M$145K$1.2M$180K
Information technologyLn 14$324K$324K
TravelLn 17$164K$738$163K
Conferences, conventions and meetingsLn 19$6.6M$3.3M$542K$2.8M
InterestLn 20$4.4M$4.4M
Depreciation, depletion and amortizationLn 22$277K$267K$10K
InsuranceLn 23$229K$138K$91K
Other expenses (24a–d)Ln 24$5.0M$907K$4.1M
Total functional expensesLn 25$154.1M$122.9M$24.3M$7.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $412.9M$208.3M$204.6M$3.1B 990 PDF
FY2024 $282.8M$157.5M$125.3M$2.8B 990 PDF
FY2023 Viewing $239.0M$154.1M$84.8M$2.5B 990 PDF
FY2022 $283.9M$118.4M$165.5M$2.4B 990 PDF
FY2021 $246.3M$99.7M$146.6M$2.5B 990 PDF
FY2020 $131.6M$94.4M$37.2M$1.8B 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 M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $238,958,217 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $100,942,019$120,666,538
I-9 Program service revenuePrior year $773,490$698,475
I-10 Investment incomePrior year $177,362,548$109,927,322
I-11 Other revenuePrior year $4,806,451$7,665,882
I-12 Total revenuePrior year $283,884,508$238,958,217
I-13 Grants and similar amounts paidPrior year $82,153,011$114,336,517
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,641,612$8,344,720
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $28,593,783$31,450,505
I-18 Total expensesPrior year $118,388,406$154,131,742
I-19 Revenue less expensesPrior year $165,496,102$84,826,475
Part VI · Governance 53 of 54 board members independent, no flags
VI-1a Voting members of the governing body54
VI-1b Independent voting members53
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $238,958,217 across 10 lines filed
VIII-1d Related organizations$3,953
VIII-1f All other contributions, gifts and grants$120,662,585
VIII-1g Noncash contributions (included above)$23,772,342
VIII-1h Total contributions, gifts and grants$120,666,538
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $698,475$698,475
VIII-3 Investment incomeUnrelated business $6,364,375 · Excluded from tax $16,406,414$22,770,789
VIII-5 RoyaltiesExcluded from tax $941,055$941,055
VIII-6 Net rental income or lossUnrelated business $2,788,533 · Excluded from tax $3,936,294$6,724,827
VIII-7 Net gain or loss on sales of assetsExcluded from tax $87,156,533$87,156,533
VIII-12 Total revenueRelated to mission $698,475 · Unrelated business $9,152,908 · Excluded from tax $108,440,296$238,958,217
Part IX · Statement of functional expenses $154,131,742 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $114,336,517$114,336,517
IX-5 Pay of current officers, directors and key staffManagement $2,390,577$2,390,577
IX-7 Other salaries and wagesManagement $4,747,462$4,747,462
IX-8 Pension plan contributionsManagement $428,557$428,557
IX-9 Other employee benefitsManagement $456,482$456,482
IX-10 Payroll taxesManagement $321,642$321,642
IX-11a Management feesManagement $36,117$36,117
IX-11b Legal feesPrograms $38,225 · Management $135,809$174,034
IX-11c Accounting feesManagement $323,508$323,508
IX-11d Lobbying feesPrograms $38,016$38,016
IX-11f Investment management feesManagement $10,132,767$10,132,767
IX-11g Other fees for servicesPrograms $284,633 · Management $2,048,247$2,332,880
IX-13 Office expensesPrograms $144,601 · Management $1,193,677 · Fundraising $179,651$1,517,929
IX-14 Information technologyManagement $324,309$324,309
IX-17 TravelPrograms $738 · Management $163,348$164,086
IX-19 Conferences, conventions and meetingsPrograms $3,264,732 · Management $541,511 · Fundraising $2,753,023$6,559,266
IX-20 InterestPrograms $4,381,949$4,381,949
IX-22 Depreciation, depletion and amortizationPrograms $267,293 · Management $9,960$277,253
IX-23 InsurancePrograms $138,169 · Management $90,876$229,045
IX-24 Other expenses (24a–d)Management $907,018 · Fundraising $4,052,328$4,959,346
IX-25 Total functional expensesPrograms $122,894,873 · Management $24,251,867 · Fundraising $6,985,002$154,131,742
Part X · Balance sheet $3,107,757,706 assets, 17 lines filed
Asset lines not itemized here account for $1,300,413; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $28,116,048$19,589,282
X-3 Pledges and grants receivableStart of year $84,699,395$106,408,352
X-4 Accounts receivableStart of year $19,375,986$23,124,646
X-10c Land, buildings and equipment, netStart of year $230,344,661$226,206,270
X-11 Publicly traded securitiesStart of year $62,514,164$139,645,347
X-12 Other securitiesStart of year $2,495,989,377$2,459,166,854
X-15 Other assetsStart of year $147,619,611$132,316,542
X-16 Total assetsStart of year $3,069,200,897$3,107,757,706
X-17 Accounts payable and accrued expensesStart of year $30,753,268$34,888,607
X-19 Deferred revenueStart of year $10,954,157$8,966,764
X-20 Tax-exempt bond liabilitiesStart of year $88,057,220$80,033,788
X-25 Other liabilitiesStart of year $196,729,480$195,060,707
X-26 Total liabilitiesStart of year $623,353,563$577,359,353
X-27 Net assets without donor restrictionsStart of year $348,375,577$362,020,019
X-28 Net assets with donor restrictionsStart of year $2,097,471,757$2,168,378,334
X-32 Total net assets or fund balancesStart of year $2,445,847,334$2,530,398,353
X-33 Total liabilities and net assetsStart of year $3,069,200,897$3,107,757,706
Part XI · Reconciliation of net assets $2,530,398,353 net assets at year end
XI-1 Total revenue$238,958,217
XI-2 Total expenses$154,131,742
XI-3 Revenue less expenses$84,826,475
XI-4 Net assets at start of year$2,445,847,334
XI-5 Net unrealized gains (losses) on investments−$1,499,782
XI-9 Other changes in net assets$1,224,326
XI-10 Net assets at end of year$2,530,398,353

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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