Civic Intelligence

Fort Valley State University Foundation Inc.

990 • Fiscal year 2018 • EIN 23-7281905

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 20, 2018

Organization ProfileWWW.FVSU.EDU/ADVANCEMENT/FVSU-
1005 State College DriveFort Valley, GA 31030

(478) 827-3878

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.58x

Higher debt load relative to assets than 76% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

6.43x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

85th percentile

33%

Higher net margin than 85% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

71st percentile

$352,188

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets76th percentile

Assets

$34,408,369

No earlier filing loaded for comparison.

Net Assets

$14,558,808

No earlier filing loaded for comparison.

Liabilities

$19,849,561

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin85th percentile

Revenue

$3,088,849

No earlier filing loaded for comparison.

Expenses

$2,060,519

No earlier filing loaded for comparison.

Net Income

$1,028,330

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2018: $34,408,369Liabilities 2018: $19,849,561Net Assets 2018: $14,558,8082018Assets 2019: $35,263,028Liabilities 2019: $19,389,929Net Assets 2019: $15,873,0992019Assets 2020: $35,029,161Liabilities 2020: $19,523,793Net Assets 2020: $15,505,3682020Assets 2021: $36,219,976Liabilities 2021: $19,486,793Net Assets 2021: $16,733,1832021Assets 2022: $36,188,796Liabilities 2022: $18,620,297Net Assets 2022: $17,568,4992022Assets 2023: $35,228,716Liabilities 2023: $17,818,536Net Assets 2023: $17,410,1802023Assets 2024: $34,869,262Liabilities 2024: $17,225,119Net Assets 2024: $17,644,1432024Assets 2025: $34,671,962Liabilities 2025: $16,523,058Net Assets 2025: $18,148,9042025

Highlighted filing

2018

Assets$34,408,369
Liabilities$19,849,561
Net Assets$14,558,808
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $3,088,849Expenses 2018: $2,060,519Net Income 2018: $1,028,3302018Revenue 2019: $3,825,877Expenses 2019: $2,511,589Net Income 2019: $1,314,2882019Revenue 2020: $2,823,198Expenses 2020: $3,190,928Net Income 2020: -$367,7302020Revenue 2021: $1,903,920Expenses 2021: $676,105Net Income 2021: $1,227,8152021Revenue 2022: $303,819Expenses 2022: $742,420Net Income 2022: -$438,6012022Revenue 2023: $4,424,406Expenses 2023: $4,323,449Net Income 2023: $100,9572023Revenue 2024: $4,891,777Expenses 2024: $4,657,814Net Income 2024: $233,9632024Revenue 2025: $5,391,872Expenses 2025: $4,887,111Net Income 2025: $504,7612025

Highlighted filing

2018

Revenue$3,088,849
Expenses$2,060,519
Net Income$1,028,330
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 20, 2018
Return Version
2017v2.3
Gross Receipts
$3,131,526
Mission and Program Overview

Mission

The purpose of the foundation is to promote higher education in the state of georgia, to raise and receive funds for the support and enhancement of the fort valley state university (fvsu), and to aid fvsu in its development as a leading educational institution.

The purpose of the foundation is to promote higher education in the state of georgia, to raise and receive funds for the support and enhancement of the fort valley state university (fvsu), and to aid fvsu in its development as a lending educational instutution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,795,585$8,273,590▲ $478,005
Savings and Temporary Cash Investments$2,473,349$4,748,681▲ $2,275,332
Land, Buildings, and Equipment, Net$1,333,059$1,378,583▲ $45,524
Pledges and Grants Receivable$18,202--
Accounts Receivable$10,000$10,000→ $0
Other Notes and Loans Receivable, Net$378--
Total Assets$34,046,421$34,408,369▲ $361,948
Other Assets Total$22,415,848$19,997,515▼ $2,418,333
Liabilities
Tax Exempt Bond Liabilities$19,077,378$18,675,571▼ $401,807
Accounts Payable and Accrued Expenses$763,674$760,863▼ $2,811
Mortgage Notes Payable Secured by Investment Property$489,402$234,849▼ $254,553
Other Liabilities$185,489$178,278▼ $7,211
Total Liabilities$20,515,943$19,849,561▼ $666,382
Net Assets / Fund Balance
Temporarily Rstr Net Assets$5,981,606$5,984,249▲ $2,643
Permanently Rstr Net Assets$4,048,865$4,737,867▲ $689,002
Unrestricted Net Assets$3,500,007$3,836,692▲ $336,685
Total Net Assets Fund Balance$13,530,478$14,558,808▲ $1,028,330
Total Liabilities and Net Assets / Fund Balance$34,046,421$34,408,369▲ $361,948

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$988,316$655,231$1,643,547
Land$390,267-$390,267
Other Land Buildings-$70,906$70,906
Other Assets Org$1,321,944--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$4,048,865$689,002--$4,737,867
2016$3,957,224$91,641--$4,048,865
2015$3,917,786$39,438--$3,957,224
2014$3,806,118$111,668--$3,917,786
2013$3,646,494$159,624--$3,806,118
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Anthony HollomanExecutive DiFT$93,684$93,684

Board Members and Trustees

NameTitle
Calvin SmyreChairman
Andrew ReeseDirector
Angela FussellDirector
David DanzieDirector
Gary LeeDirector
Gita GardnerDirector
Gwendolyn ReevesDirector
Isaac CrumblyDirector
Jarius JonesDirector
Johnnie BookerDirector
Kenneth HowardDirector
Krystal ConnerDirector
Lou Ann GrossDirector
Melvin Douglas MorrisDirector
Patty James-bentleyDirector
Paul JonesDirector
Rufus GreenDirector
Theodore DanielsDirector
Vernard HodgesDirector
Cynthia CarterSecretary
Charles RobinsonTreasurer
Lawrence MarableVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,117,908
Program Service Revenue
$835,512
Investment Income
$124,347
Other Revenue
$11,082
All Other Contributions
$2,117,908
Change in Net Assets
$1,028,330
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,309,244
Grants and Similar Amounts Paid$751,275
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$751,275--$751,275
Interest$720,512$1,620-$722,132
Travel-$103,958-$103,958
Fees for Service Investment Mgmnt Fees$88,607--$88,607
Office Expenses-$45,981-$45,981
Other Expenses-$33,122-$33,122
Conferences and Meetings-$32,000-$32,000
Insurance-$10,409-$10,409
Total Functional Expenses$1,560,394$500,125$0$2,060,519
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fort Valley State UniversityFort Valley, GA-Scholarships for Stu$751,275
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$178,278

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANotes and Bonds 62013-05-01$20,490,000REFINANCE 2008 BONDS.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$20,490,000--$447,591

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The foundation's board of directors select members of the governing body as provided in the bylaws whihc are included as part of this return.”

Form 990, Page 6, Part VI, Line 7A

“Certain decisions of the governing body are subject to approval by the boa rd as provided in its bylaws, included herein.”

Form 990, Page 6, Part VI, Line 7B

“Certain decisions of the governing body are subject to approval by the boa rd as provided by its bylaws, included herein.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the executive director prior to submission.”

Form 990, Page 6, Part VI, Line 12C

“As soon as possible conflicts of interest on the part of any member of the board of directors is known, or reasonably should have been known, any su ch conflict shall be disclosed to the executive committee and other member s of the board of directors and made a matter of record.”

Form 990, Page 6, Part VI, Line 15A

“The executive director's compensation is determined by the university.”

Form 990, Page 6, Part VI, Line 15B

“The compensation of the other key employees are determined annually by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“The information is made available upon request of the governing board.”

Filing and Contact Details

Filer

Filer Name
Fort Valley State University Founda
EIN
23-7281905
Address
1005 STATE COLLEGE DRIVE, FORT VALLEY, GA 31030

Signing Officer

Name
Anthony Holloman
Title
Executive Director
Signed
2018-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Holloman
Legal Domicile
Ga
Voting Board Members
23
Independent Board Members
21
Employees
0

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
J Randolph Nichols
Phone
4787466277
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The purpose of the foundation is to promote higher education in the state of georgia, to raise and receive funds for the support and enhancement of the fort valley state university (fvsu), and to aid fvsu in its development as a leading educational institution.”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“To provide scholarships to fvsu students.”

Schedule D, Page 3, Part X

“The foundation qualifies as a tax-exempt organization as described in internal revenue code section 501(c)(3) and has been classified by the internal revenue service as a publicly supported organization and not as a private foundation. However, income from certain activities not directly related to the foundation's tax-exempt purpose is subject to taxation as unrelated business income. In the opinion of management, the foundation had no significant unrelated business taxable income during fiscal years 2017 or 2016. Additionally, in the opinion of management, the activities of the subsidiaries are not subject to unrelated business taxable income. The foundation does not have any material unrecognized tax positions that should be recognized in the consolidated financial statements. Accordingly, no provision or benefit for federal and state income taxes has been recorded in the accompanying consolidated financial statements. The foundation is subject to routine audits by taxing jurisdictions; however, there are no audits for any periods in progress. The foundation believes it is no longer subject to income tax examinations for years prior to 2015. Student housing and wildcat commons, the subsidiaries, are treated as disregarded entities for federal and state income tax purposes and are included in the foundation's annual filing.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/PrincipalOfficerNm0ANTHONY HOLLOMAN
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$34,408,369
Liabilities
$19,849,561
Net assets
$14,558,808
Revenue
$3,088,849
Expenses
$2,060,519
Net income
$1,028,330
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$34.7$16.5$18.1$5.39$4.89$0.50
2024Detailed filing. Detailed filing data is available for this year.$34.9$17.2$17.6$4.89$4.66$0.23
2023Detailed filing. Detailed filing data is available for this year.$35.2$17.8$17.4$4.42$4.32$0.10
2022Detailed filing. Detailed filing data is available for this year.$36.2$18.6$17.6$0.30$0.74$0.44
2021Detailed filing. Detailed filing data is available for this year.$36.2$19.5$16.7$1.90$0.68$1.23
2020Detailed filing. Detailed filing data is available for this year.$35.0$19.5$15.5$2.82$3.19$0.37
2019Detailed filing. Detailed filing data is available for this year.$35.3$19.4$15.9$3.83$2.51$1.31
2018Detailed filing. Detailed filing data is available for this year.$34.4$19.8$14.6$3.09$2.06$1.03