2018-11-13T16:01:41-06:00 2018-06-30 560574444 Cherry Bekaert LLP 1029 Greene Street Augusta GA 30901 990 2017-07-01 582491922 UGA Real Estate Foundation Inc UGAR 7065830811 1280 South Lumpkin Street Athens GA 30602 Eric Orbock Executive Director 2018-11-13 true Amanda Adams P00748038 7067243557 2017 2019-02-21 02:37:17Z Eric Orbock 1280 South Lumpkin Street Athens GA 30602 38754009 false X www.ugaref.com X 1999 GA The UGA Real Estate Foundation, Inc. manages and improves various real estate assets for the benefit of the University of Georgia, governed by the Board of Regents of the University System of Georgia. The UGA Real Estate Foundation may also provide support to the Board of Regents, and colleges and universities of the University System of Georgia. 10 5 0 7 0 0 18242985 17102855 352482 1471357 0 18595467 18574212 0 0 0 0 0 16257061 14952130 16257061 14952130 2338406 3622082 323607738 299387226 279770345 252201904 43837393 47185322 The UGA Real Estate Foundation manages and improves various real estate assets for the benefit of the University of Georgia, governed by the Board of Regents of the University System of Georgia. The UGA Real Estate Foundation may also provide support to the Board of Regents, and colleges and universities of the University System of Georgia. false false 14469733 17102855 The development, improvement, administration, and maintenance of property acquired and held for the benefit of the University of Georgia and the University System of Georgia. 14469733 true false false false false false false false false false true false false true true false true true false true true false false false false false false false false true true false false false false false false false false false false false false false false true true false true false true 13 0 true 0 false true IT false false false false true false false false X 10 5 false false false false true true true true true false false true true true true true true false false false GA X Chad Cleveland 7065426860 456 E Broad St Athens GA 30602 David C Lee Vice-Chairman 1.0 40.0 X X 0 299192 48010 Henry J Munneke Secretary 1.0 40.0 X X 0 307438 52996 John W Rooker Trustee - Treasurer 1.0 0.0 X X 0 0 0 Ryan A Nesbit Chairman 3.0 40.0 X X 0 278533 70395 Kirby Alton Trustee 1.0 1.0 X 0 0 0 Thilo D Best Trustee 1.0 0.0 X 0 0 0 Paige Collier Trustee 1.0 0.0 X 0 0 0 Cader B Cox III Trustee 1.0 1.0 X 0 0 0 Greg C Guyer Trustee 1.0 1.0 X 0 0 0 Jere W Morehead Ex-Officio Trustee 1.0 40.0 X 0 633650 245161 C Read Morton Jr Trustee 1.0 1.0 X 0 0 0 Pamela S Whitten Ex-Officio Trustee 1.0 40.0 X 0 419517 43807 Eric P Orbock Executive Director 30.0 10.0 X 0 200147 61442 Josef M Broder Former Officer 0.0 40.0 X 0 217216 53120 0 2355693 574931 0 true true false Fortson Bentley and Griffin PA 2500 Daniells Br Rd Bld 200 Ste 3A Athens GA 30606 Legal 363487 Kutak Rock LLP P O Box 30057 Omaha NE 681031157 Legal 227000 Moody's Investor Services Inc PO Box 102597 Atlanta GA 303680597 Financial 109500 3 0 Capital Lease Interest Income 900099 12968697 12968697 Rental Income 900099 4134158 4134158 0 0 0 0 17102855 468958 468958 0 0 15158 21167038 20179797 15158 987241 1002399 1002399 0 0 0 0 0 18574212 17102855 0 1471357 97122 88259 8863 79500 79500 16204 16204 299936 0 299936 0 1876 1876 3000 3000 564342 511952 52390 1531 1531 1630 1630 10613517 10613517 632044 632044 114739 114739 44307 26840 17467 Lease Expense 2365914 2365914 Property Operating Expense 115312 115312 Corporate Registration 800 800 Bank Fees 356 356 0 0 0 0 14952130 14469733 482397 0 21219664 22815059 0 0 0 189753 195193 19101114 1659496 17556357 17441618 11501003 11552779 0 5786909 5786909 1835296 1835296 265518756 239760372 323607738 299387226 591779 562529 2154508 2006940 266703506 239158580 0 8516222 8516222 1804330 1957633 279770345 252201904 X 41773874 44757501 2063519 2427821 43837393 47185322 323607738 299387226 3622082 -274153 0 X false true X true false X X 2 University of Georgia 586001998 2 true 354800 0 University of Georgia Research Foundation Inc 581353149 7 true 277244 0 2 632044 0 true true false false false false false false false false false false false false false true false Schedule A, Part I, Line 12g Column V In addition to monetary support, the UGA Real Estate Foundation supports the University of Georgia by financing and building projects. The University then pays the UGA Real Estate Foundation rent for these properties. Anywhere from 19 to 30 years from the inception of each project's lease, these properties will transfer to the Board of Regents. Schedule A, Part IV, Section A, Line 2 Supported Org. Without IRS Status 509(a)1 or (2) The UGA Real Estate Foundation supports the University of Georgia which was determined by the Internal Revenue Service to be a University in the University System of Georgia which is a department or instrumentality of the state of Georgia and to be exempt from federal income tax under IRC 115(1). 15724224 15724224 3179498 1462104 1717394 197392 197392 0 17441618 Interest Receivable 22820 Capital Lease and Interest Receivable 239737552 239760372 Lease Rent Liability 1855048 A/P Related Affiliates 102585 1957633 18283855 -274153 0 -274153 18558008 16204 0 16204 18574212 14935926 0 0 14935926 16204 0 16204 14952130 Europe (Including Iceland and Greenland) 0 1 Program Services rental real estate 105395 0 1 0 0 0 1 105395 0 105395 false false false false false false false true false false false false false false false David C Lee Vice-Chairman 0 294812 0 0 0 4380 0 24948 0 23062 0 347202 0 0 Henry J Munneke Secretary 0 294988 0 0 0 12450 0 28907 0 24089 0 360434 0 0 Ryan A Nesbit Chairman 0 252930 0 0 0 25603 0 44739 0 25656 0 348928 0 0 Jere W Morehead Ex-Officio Trustee 0 609342 0 0 0 24308 0 236754 0 8407 0 878811 0 0 Pamela S Whitten Ex-Officio Trustee 0 395439 0 0 0 24078 0 24948 0 18859 0 463324 0 0 Eric P Orbock Executive Director 0 199967 0 0 0 180 0 33173 0 28269 0 261589 0 0 Josef M Broder Former Officer 0 217216 0 0 0 0 0 34057 0 19063 0 270336 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation The UGA Real Estate Foundation's Executive Director is paid directly by the University of Georgia for his role as the Executive Director. The University of Georgia Vice President for Finance and Administration establishes the Executive Director's annual compensation using the state of Georgia's budgetary guidelines. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The compensation reported in Schedule J, Part II,Column C includes deferred compensation of $204,014 paid by the University of Georgia as part of a supplemental nonqualified retirement plan for UGA president Jere W. Morehead. A Development Authority of the Unified Government of Athens-Clarke County GA 582613761 047059GB0 2016-06-26 61143584 To refinance all remaining bonds (orig issue 1/29/08) with lower rate bonds false false false B Housing Authority of the City of Athens GA 586002838 047093FF1 2017-02-09 48929542 To refinance all remaining bonds (orig issue 7/15/09) with lower rate bonds. false false false C Development Authority of the Unified Government of Athens-Clarke County GA 582613761 047059JG6 2017-09-14 16021388 To refinance all remaining bonds (orig issue 11/25/09) with lower rate bonds. false false false D Housing Authority of the City of Athens GA 586002838 047093BZ1 2010-03-01 36102798 To refinance higher rate bonds (orig issue 12/18/02) with lower rate bonds true false false A 3585000 62026066 596838 36278 61392950 2009 false true true true B 2345000 49488477 43600659 544724 5343094 2010 false true true true C 615000 16206239 14813120 317858 5273 1069988 2009 false true true true D 11800000 3410000 37723351 457858 18693 37246800 2004 false true true true A false false false false 0.0 false false true B false false false false 0.0 false false true C false false false false 0.0 false false true D false false false false 0.0 false false true A false false false true false false false false true B false false false true false false false false true C false false false true false false false false true D false false false true false false false false true A true B true C true D true Schedule K, Part II, Line 3 CUSIP # 047093BZ1 Total proceeds do not equal the bond issued. Difference is investment income and funds from Debt Service Reserve. Schedule K, Part II, Line 3 CUSIP # 047093EL9 Total proceeds do not equal the bond issued. Difference is investment income. Schedule K, Part II, Line 3 CUSIP # 047059FB1 Total proceeds do not equal the bond issued. Difference is investment income. Schedule K, Part II, Line 3 CUSIP # 047059GB0 Total proceeds do not equal the bond issued. Difference is investment income. Schedule K, Part II, Line 3 CUSIP # 047093FF1 Total proceeds do not equal the bond issued. Difference is investment income. Schedule K, Part II, Line 3 CUSIP # 047059JG6 Total proceeds do not equal the bond issued. Difference is investment income. Schedule K, Part II, Line 3 CUSIP # 047093DF3 Total proceeds do not equal the bond issued. Difference is investment income and funds from Debt Service Reserve. Schedule K, Part II, Line 3 CUSIP # 047059DA5 Total proceeds do not equal the bond issued. Difference is investment income and funds from Debt Service Reserve. Schedule K, Part IV, Line 2c COLUMN A Issuer name: Development Authority of the Unified Government of Athens-Clarke County, GA The calculation for computing no rebate due was performed on 06/01/2017 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Housing Authority of the City of Athens, GA The calculation for computing no rebate due was performed on 06/15/2017 Schedule K, Part IV, Line 2c COLUMN C Issuer name: Development Authority of the Unified Government of Athens-Clarke County, GA The calculation for computing no rebate due was performed on 09/14/2017 Schedule K, Part IV, Line 2c COLUMN D Issuer name: Housing Authority of the City of Athens, GA The calculation for computing no rebate due was performed on 03/01/2015 Schedule K, Part IV, Line 2c COLUMN A Issuer name: Housing Authority of the City of Athens, GA The calculation for computing no rebate due was performed on 12/01/2016 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Development Authority of the Unified Government of Athens-Clarke County, GA The calculation for computing no rebate due was performed on 12/15/2013 Schedule K, Part IV, Line 2c COLUMN C Issuer name: Housing Authority of the City of Athens, GA The calculation for computing no rebate due was performed on 06/01/2017 Schedule K, Part IV, Line 2c COLUMN D Issuer name: Development Authority of the Unified Government of Athens-Clarke County, GA The calculation for computing no rebate due was performed on 06/15/2018 A Housing Authority of the City of Athens GA 586002838 047093DF3 2011-12-01 49335589 To refinance higher rate bonds (orig issue 12/18/02) with lower rate bonds false false false B Development Authority of the Unified Government of Athens-Clarke County GA 582613761 047059DA5 2011-12-15 33291961 To refinance all remaining bonds (orig issue 12/26/02) with lower rate bonds false false false C Housing Authority of the City of Athens GA 586002838 047093EL9 2012-06-11 22476167 To construct a residence hall false false false D Development Authority of the Unified Government of Athens-Clarke County GA 582613761 047059FB1 2013-06-27 25031053 To construct a dining facility false false false A 1820000 49566104 507841 13363 49044900 2004 false true true true B 6990000 34577328 383729 8665 34184934 2003 false true true true C 9305000 22476303 898555 405793 304141 20867814 2013 false false true true D 5560000 25031153 1077425 372539 462744 23118445 2014 false false true true A false false false false 0.0 false false true B false false false true true 0.0 false false true C false false false false 0.0 false false true D false false false false 0.0 false false true A false false false true false false false false true B false false false true false false false false true C false false false true false false false false true D false false false true false false false false true A true B true C true D true Form 990, Part VI, Line 6 Classes of members or stockholders The University of Georgia Research Foundation is the sole member of the UGA Real Estate Foundation. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The University of Georgia Research Foundation elects members to the governing body of the UGA real Estate Foundation. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The University of Georgia Research Foundation has the ability to approve certain decisions of the governing board, such as changing by-laws. Form 990, Part VI, Line 11b Review of form 990 by governing body IRS Form 990 is provided electronically to the Board of Trustees prior to the filing deadline with sufficient lead-time to allow for review by the Board of Trustees. Any responses are addressed before the return is filed. Form 990, Part VI, Line 12c Conflict of interest policy Board members and officers of the UGA Real Estate Foundation are given a form to complete each year requesting disclosure of all related entities and transactions. Any conflicts noted are discussed and appropriate action taken, if deemed necessary. Form 990, Part VI, Line 19 Required documents available to the public The UGA Real Estate Foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request. UGAREF Bolton Commons LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 1175597 20098842 UGA REAL ESTATE FOUNDATION INC UGAREF CCRC Building LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 1430270 30514175 UGA REAL ESTATE FOUNDATION INC UGAREF Central Precinct LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 2477051 52866911 UGA REAL ESTATE FOUNDATION INC UGAREF Coverdell Building LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 1182501 1635733 UGA REAL ESTATE FOUNDATION INC UGAREF East Campus Housing Phase II LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 2355134 44321486 UGA REAL ESTATE FOUNDATION INC UGAREF East Campus Housing LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 4511463 73402184 UGA REAL ESTATE FOUNDATION INC UGAREF Fraternity Row House 1 LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 220586 3179174 UGA REAL ESTATE FOUNDATION INC UGAREF Fraternity Row House 2 LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 220585 3177824 UGA REAL ESTATE FOUNDATION INC UGAREF Fraternity Row House 3 LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 220587 3179174 UGA REAL ESTATE FOUNDATION INC UGAREF Fraternity Row House 7 LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 150029 2130176 UGA REAL ESTATE FOUNDATION INC UGAREF Fraternity Row LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 3 275 UGA REAL ESTATE FOUNDATION INC UGAREF Hardin Property LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 4 8724853 UGA REAL ESTATE FOUNDATION INC UGAREF Oconee Street LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 355614 8551166 UGA REAL ESTATE FOUNDATION INC UGAREF O'Malley's Building LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 175 0 UGA REAL ESTATE FOUNDATION INC UGAREF PAC Parking Deck LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 792920 15572920 UGA REAL ESTATE FOUNDATION INC UGAREF Rutherford Hall LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 701793 13689071 UGA REAL ESTATE FOUNDATION INC UGAREF Spring Street LLC 1280 S LUMPKIN ST ATHENS GA 30602 MANAGE RENTAL REAL ESTATE GA 133 15463 UGA REAL ESTATE FOUNDATION INC UGAREF Terry College Phase 1 LLC 1280 S LUMPKIN ST ATHENS GA 30602 CONSTRUCTION OF REAL ESTATE FOR UGA GA 0 0 UGA REAL ESTATE FOUNDATION INC University of Georgia 456 E Broad St Athens GA 30602 586001998 Education & Research GA NA false University of Georgia Research Foundation Inc 456 E Broad St Athens GA 30602 581353149 Research GA 501(c)(3) 7 NA false UGAREF Cortona Italy Foundation 1280 S Lumpkin St Athens GA 30602 Provide housing for studies abroad program IT 501(c)(3) NA false false false false false false false true false false true true false true false false true true true false University of Georgia G 21167038 Financial Statements University of Georgia J 24705457 Financial Statements University of Georgia K 52250 Financial Statements University of Georgia M 299936 Financial Statements University of Georgia P 321875 Financial Statements University of Georgia Q 714510 Financial Statements University of Georgia and University of Georgia Research Foundation Inc R 632044 Financial Statements