2013-11-06T14:16:01-06:00 2012-06-30 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2011-07-01 586333106 UNIVERSITY SYSTEM OF GEORGIA FOUNDATION INC UNIV 4049623057 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 CANDACE SOMMER 4049623057 2013-11-05 1 JEFF T FUCITO P00120748 7709558600 2013-10-30 X 2011 2016-02-24 21:20:13Z X CANDACE SOMMER 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 17811986 0 X WWW.USGFOUNDATION.ORG X 1995 GA SEE SCHEDULE O FOR COMPLETE MISSION DESCRIPTION.THE UNIVERSITY SYSTEM OF GEORGIA FOUNDATION'S PRIMARY GOAL IS TO SUPPORT THE STATE OF GEORGIA UNIVERSITY SYSTEM AND ITS 31 COLLEGES AND UNIVERSITIES TO ENSURE ACCESS TO ACADEMIC EXCELLENCE AND EDUCATIONAL OPPORTUNITIES FOR ALL GEORGIANS. 17 16 0 125 0 0 899045 16523833 195431 -180423 17437886 307299 0 0 0 44190 13730302 14037601 3400285 317651638 297698584 312044133 288810647 5607505 8887937 THE MISSION OF THE UNIVERSITY SYSTEM OF GEORGIA, A COOPERATIVE ORGANIZATION OF THE BOARD OF REGENTS, IS TO SUPPORT AND ADVANCE THE WORK OF THE UNIVERSITY SYSTEM OF GEORGIA CONSISTENT WITH THE UNIVERSITY SYSTEM'S STRATEGIC PLAN. 0 0 13033557 16490240 GHEFA SUPPORT: THE USG REAL ESTATE FOUNDATIONS WERE FORMED FOR THE PURPOSE OF CONSTRUCTING PROJECTS AND RENTING THE PROJECTS TO COLLEGES AND UNIVERSITIES WITHIN THE UNIVERSITY SYSTEM OF GEORGIA ON REAL ESTATE OWNED BY THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA. TO DATE, EIGHTEEN PROJECTS ON THIRTEEN CAMPUSES TOTALING $317 MILLION HAVE BEEN FINANCED THROUGH THE USG REAL ESTATE FOUNDATIONS. 326840 USO AND BOR SUPPORT: THE USG FOUNDATION PROVIDES PROFESSIONAL, FINANCIAL AND ADMINISTRATIVE SERVICES TO THE OFFICE OF THE CHANCELLOR, THE BOARD OF REGENTS, THE USG SYSTEM OFFICE AND INSTITUTIONS TO ADVANCE THE WORK OF THE UNIVERSITY SYSTEM AS A WHOLE. FUND ACCOUNTS FALL INTO FOUR CATEGORIES: GRANTS, SCHOLARSHIPS, USG DISCRETIONARY ACCOUNTS, AND SPECIAL PROGRAMS AND INITIATIVES 327299 307299 SCHOLARSHIPS AND AWARDS: USGF PROVIDES SCHOLARSHIP FUNDS TO ALL USG INSTITUTIONS SO THAT THEY CAN OFFER NEEDS- AND MERIT-BASED SCHOLARSHIPS TO QUALIFIED STUDENTS. ADDITIONALLY, THE USGF ANNUALLY PROVIDES MONETARY AWARDS TO OUTSTANDING FACULTY SELECTED BY THE USG DEPARTMENT OF ACADEMIC AFFAIRS. 13687696 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 15 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 GA X THE ORGANIZATION 4049623057 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 X KENNETH BERNARD JR 2.00 X X 0 0 0 NEIL PRUITT JR 0.50 X X 0 0 0 GITA HENDESSI 1.00 X X 0 0 0 C DEAN ALFORD 0.50 X 0 0 0 DALLAS COPELAND JR 0.50 X 0 0 0 HUGH CARTER JR 0.50 X 0 0 0 R A GRIFFIN 0.50 X 0 0 0 JULIE HUNT 0.50 X 0 0 0 NANCY JUNEAU 0.50 X 0 0 0 DONALD LEEBERN III 0.50 X 0 0 0 ELRIDGE MCMILLAN 0.50 X 0 0 0 MITESH SHAH 0.50 X 0 0 0 KIRBY THOMPSON 0.50 X 0 0 0 PHILIP WILHEIT SR 0.50 X 0 0 0 JIMMY YANCEY 0.50 X 0 0 0 HENRY M HUCKABY 0.50 X 0 282651 0 CANDACE C SOMMER 40.00 X 0 106649 15253 0 389300 15253 0 0 1 0 MARRIOTT 10400 FERNWOOD ROAD BETHESDA MD 20817 FACILITIES USE 149263 1 647950 251095 96458 899045 INTEREST-DIRECT FINANC 531190 15092411 15092411 LEASE INCOME 531190 1096522 1096522 REGISTRATION FEES 900099 334900 334900 16523833 117567 117567 111457 0 33593 111457 -33593 77864 -33593 111457 160084 647950 340507 -180423 -180423 17437886 16490240 0 48601 307299 307299 21193 21193 81686 81686 17264 10545 6719 365352 198750 162450 4152 60018 50876 8880 262 5495 5495 5106 3427 1679 19725 16778 851 2096 303433 249353 22051 32029 12740006 12740006 9601 9601 REPAIRS & MAINTENANCE 65144 65144 OPERATING EXPENSE 13023 13023 BAD DEBT EXPENSE 10000 10000 EQUIPMENT RENTAL 7847 7847 5409 3455 1798 156 14037601 13687696 305715 44190 741910 699642 68383 35070 4858506 4926075 183066470 273119173 128916369 18918624 317651638 297698584 354665 84303 290549914 287140730 21139554 1585614 312044133 288810647 X 4583301 8393727 1024204 494210 5607505 8887937 317651638 297698584 X 3400285 -119853 X X 0 1 0 X 0 X X 0 0 0 UNIVERSITY SYSTEM OF GEORGIA 586002348 GOVERNMENT AFFILIATE 1 1 1 327299 1 327299 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 4006066 75062 4081128 1.00000 0 0 0 INVESTMENTS IN FINANCE LEASE 273119173 F 273119173 AGENCY CASH (OPERATING FUND) 312928 ASSETS LIMITED TO USE 12710477 INTEREST RECEIVABLE 1310528 DEBT ISSUANCE COST 4584691 18918624 CONSTRUCTION PAYABLE 688668 ACCRUED INTEREST PAYABLE 584020 AGENCY FUNDS PAYABLE 312926 1585614 17437886 14037601 3400285 -119853 -119853 3280432 17548570 -119853 6593 252424 139164 17409406 28480 28480 17437886 14268138 6593 223944 230537 14037601 0 14037601 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRS CODE. THE FOUNDATION CONSIDERS ALL OF ITS ACTIVITIES TO BE DIRECTLY RELATED TO IT'S EXEMPT PURPOSE IN THIS TAX YEAR, ACCORDINGLY, THERE WERE NO INCOME TAXES PAID BY THE FOUNDATION. THE FOUNDATION DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS THROUGH THE YEAR ENDED. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 252,424. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS FROM EXPENSE 28,480. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 252,424. RECLASS TO REVENUE -28,480. GALA 2012 808034 647950 160084 0 71090 105831 5000 158586 808034 647950 160084 71090 105831 5000 158586 340507 -180423 1 ALBANY STATE UNIVERSITY FOUNDATION 504 COLLEGE DRIVE ALBANY GA 31705 237032763 5500 TO FUND SCHOLARSHIPS ARMSTRONG ATLANTIC STATE UNIVERSTIY FOUNDATION 5500 TO FUND SCHOLARSHIPS ATLANTA METROPOLITAN STATE COLLEGE 1630 METROPOLITAN PARKWAY SW ATLANTA GA 30310 10000 TO SUPPORT OPERATIONS. AUGUSTA STATE UNIVERSITY FOUNDATION 6488 TO FUND SCHOLARSHIPS CLAYTON STATE UNIVERSITY FOUNDATION 5500 TO FUND SCHOLARSHIPS COLUMBUS STATE UNIVERSITY FOUNDATION 5500 TO FUND SCHOLARSHIPS FORT VALLEY STATE UNIVERSITY FOUNDATION 5500 TO FUND SCHOLARSHIPS GAINESVILLE STATE COLLEGE FOUNDATION PO BOX 1358 GAINESVILLE GA 30503 586073474 6046 TO FUND SCHOLARSHIPS GEORGIA COLLEGE & STATE UNIVERSITY FOUNDATION CAMPUS BOX 096 MILLEDGEVILLE GA 31061 586043972 5774 TO FUND SCHOLARSHIPS GEORGIA GWINNETT COLLEGE FOUNDATION 19118 TO FUND SCHOLARSHIPS GEORGIA HEALTH SCIENCES UNIVERSTIY FOUNDATION 10000 TO FUND SCHOLARSHIPS GEORGIA INSTITUTE OF TECHNOLOGY FOUNDATION 760 SPRING STREET ATLANTA GA 30308 586043294 17482 TO FUND SCHOLARSHIPS GEORGIA PERIMETER COLLEGE FOUNDATION 3251 PANTHERSVILLE ROAD A2810 DECATUR GA 300343832 581492364 5670 TO FUND SCHOLARSHIPS GEORGIA SOUTHERN UNIVERSITY FOUNDATION PO BOX 8053 STATESBORO GA 30460 586034031 5500 TO FUND SCHOLARSHIPS GEORGIA SOUTHWESTERN STATE UNIVERSITY FOUNDATION PO BOX 926 AMERICUS GA 31709 581386358 5620 TO FUND SCHOLARSHIPS GEORGIA STATE UNIVERSITY FOUNDATION 17482 TO FUND SCHOLARSHIPS GEORGIA STUDENT FINANCE COMMISSION 2082 EAST EXCHANGE PLACE TUCKER GA 30084 50000 TO SUPPORT THE GOVERNORS INITIATIVE OF THE REACH SCHOLARSHIP PROGRAM KENNESAW STATE UNIVERSITY FOUNDATION 1000 CHASTAIN ROAD KENNESAW GA 30144 237034345 12934 TO FUND SCHOLARSHIPS NORTH GEORGIA COLLEGE AND STATE UNIVERSITY FOUNDATION PO BOX 1599 DAHLONEGA GA 30533 237066297 5618 TO FUND SCHOLARSHIPS SAVANNAH STATE UNIVERSITY FOUNDATION PO BOX 20439 SAVANNAH GA 314049707 237305890 5500 TO FUND SCHOLARSHIPS SOUTHERN POLYTECHNIC STATE UNIVERSITY FOUNDATION 1100 S MARIETTA PARKWAY MARIETTA GA 30060 581274394 10982 TO FUND SCHOLARSHIPS UNIVERSITY OF GEORGIA FOUNDATION 394 MILLEDGE AVENUE ATHENS GA 30602 586033837 10000 TO FUND SCHOLARSHIPS UNIVERSITY OF WEST GEORGIA FOUNDATION 1601 MAPLE STREET CARROLLTON GA 30118 586056464 10102 TO FUND SCHOLARSHIPS VALDOSTA STATE UNIVERSITY FOUNDATION 5500 TO FUND SCHOLARSHIPS 24 0 0 0 0 0 0 0 0 0 0 HENRY M HUCKABY 0 282651 0 0 0 0 0 0 0 0 0 282651 0 0 GEORGIA HIGHER EDUCATION FACILITIES AUTHORITY 134350870 373511AV6 2008-11-26 97319438 USG REAL ESTATE FOUNDATION I, LLC CONSTRUCTION PROJECTS 0 1 0 GEORGIA HIGHER EDUCATION FACILITIES AUTHORITY 134350870 373511BN3 2009-07-23 99499014 USG REAL ESTATE FOUNDATION II, LLC CONSTRUCTION PROJECTS 0 1 0 GEORGIA HIGHER EDUCATION FACILITIES AUTHORITY 134350870 373511CP7 2010-08-12 96338571 USG REAL ESTATE FOUNDATION III, LLC CONSTRUCTION PROJECTS 0 1 0 97319438 3851563 3851563 1082075 587473 91798328 0 0 0 0 99499014 3651525 0 0 0 0 96338571 2988119 0 0 0 0 X AUCTION ITEMS 281 88084 ACTUAL PROCEEDS X DONATED BEVERAGES FOR FUNDRAISER 1 8374 RETAIL VALUE 0 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION B, LINE 11 A COMPLETE DRAFT OF THE 990 WILL BE PRESENTED TO THE FULL BOARD ELECTRONICALLY FOR ANY QUESTIONS AND COMMENTS AND/OR REVISIONS WITH A TWO WEEK DEADLINE. IF THERE AREN'T ANY SUGGESTED REVISIONS OR COMMENTS, THE 990 WILL BE APPROVED AS IT AND FILED. IT WILL THEN BE PRESENTED ON OUR WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL REPORTS ARE POSTED ON THE USG FOUNDATION WEBSITE. ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990 PART VII HENRY HUCKABY IS EMPLOYED AS CHANCELLOR OF THE GEORGIA BOARD OF REGENTS. HE WORKS APPROXIMATELY 40 HOURS A WEEK FOR THE BOARD. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -119,853. FORM 990 PART XI LINE 2C AN AUDITOR-SELECTION COMMITTEE WAS FORMED FROM THE BOARD. REQUEST FOR PROPOSAL WAS DEVELOPED AND SENT TO AT LEAST 3 TARGETED FIRMS. A RATING SCALE WAS USED TO EVALUATE THE PROPOSALS AND FINALISTS WERE CHOSEN. FINALISTS WERE INTERVIEWED BY THE EXECUTIVE COMMITTEE ON THE BOARD. A FIRM WAS CHOSEN BASED ON THE EVALUATION AND THE INTERVIEW PROCESS. THE SIGNED ENGAGEMENT IS FOR A 3 YEAR PERIOD. THE FINANCIAL STATEMENT OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990 PAGE 1 LINE 5 THE USG/GEORGIA BOARD OF REGENTS LOANS EMPLOYEES TO THE UNIVERSITY SYSTEM OF GEORGIA FOUNDATION. THE FOUNDATION REIMBURSES THE BOARD OF REGENTS SYSTEM OFFICE FOR A PORTION OF SALARIES AND BENEFITS. THE FOUNDATION DOES NOT RECOGNIZE DONATED SALARIES AS REVENUE, NOR EXPENSE. USG REAL ESTATE FOUNDATION I LLC 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 263541574 CONSTRUCTION AND LEASE OF REAL ESTATE GA 6485050 98094699 UNIVERSITY SYSTEM OF GEORGIA FOUNDATION INC USGREF MANAGER LLC 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 263541509 ENTITY MANAGEMENT GA 0 0 UNIVERSITY SYSTEM OF GEORGIA FOUNDATION INC USG REAL ESTATE FOUNDATION II LLC 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 270549673 CONSTRUCTION AND LEASE OF REAL ESTATE GA 5855546 98211829 UNIVERSITY SYSTEM OF GEORGIA FOUNDATION INC USG REAL ESTATE FOUNDATION III LLC 270 WASHINGTON ST SW SUITE 5175 ATLANTA GA 30334 272615552 CONSTRUCTION AND LEASE OF REAL ESTATE GA 5072651 95431269 UNIVERSITY SYSTEM OF GEORGIA FOUNDATION INC UNIVERSITY SYSTEM OF GEORGIA 270 WASHINTON ST SW SUITE 51 ATLANTA GA 30334 586002348 GOVERNING AND MGMT OF PUBLIC UNIVERSITIES & COLLEGES GA 501(C)(3) LINE 5 GEORGIA GOVERNOR 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 THE UNIVERSITY SYSTEM OF GEORGIA FOUNDATION, INC EXISTS TO BENEFIT THE BOARD OF REGENTS GOVERNING GEORGIA PUBLIC COLLEGES AND UNIVERSITIES, AND THEIR STUDENTS. THEY RECEIVE A SUBSTANTIAL PART OF THEIR SUPPORT FROM THE GENERAL PUBLIC AND POLITICAL SUBDIVISIONS OF THE STATE OF GEORGIA. THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO RECEIVE, HOLD, INVEST, AND ADMINISTER PROPERTY AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF STATE-SPONSORED COLLEGES AND UNIVERSITIES. THE FOUNDATION HAS BEEN PREVIOUSLY NOTIFIED THAT THEY WERE EXCUSED FROM THE ANNUAL INFORMATION RETURN FORM FILING. FURTHER, IT WAS ANTICIPATED THAT THE FOUNDATION MET THE REQUIREMENTS OF REVENUE PROCEDURE 95-48 AND QUALIFIED AS A PUBLIC CHARITY DESCRIBED IN 170(B)(1)(A)(VI). THE FOUNDATION RECEIVED AN IRS NOTICE DATED 12/21/11 REGARDING FILING OF FORM 990 FOR THE PERIOD ENDED 6/30/2012. THIS BEGAN A SERIES OF COMMUNICATIONS WITH THE IRS INCLUDING FORM 8940 REQUESTING A CHANGE IN PRIVATE FOUNDATION STATUS AND RECOGNITION AS EXCUSED FROM FILING FORM 990.AFTER OVER A YEAR OF COMMUNICATION, THE FOUNDATION DECIDED TO PROCEED WITH THE FILING OF 2011 FORM 990. THIS WAS DISCUSSED WITH THE IRS AGENT WHOM THE FOUNDATION HAD BEEN COMMUNICATING WITH.THE FOUNDATION WILL BE TIMELY-FILING FORM 990 FOR 2012 AND THERAFTER. PLEASE WAIVE ALL PENALTIES ASSOCIATED WITH THE LATE FILING OF 2011 FORM 990. THE FOUNDATION EXCERCISED REASONABLE BUSINESS CARE AND PRUDENCE IN RELYING ON PREVIOUS NOTICE THAT IT WAS EXEMPT FROM FILING FORM 990. STEPS ARE IN PLACE TO FILE TIMELY ANNUAL RETURNS.