Civic Intelligence

Fort Valley State University Foundation Inc.

990 • Fiscal year 2019 • EIN 23-7281905

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 15, 2019

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

74th percentile

0.55x

Higher debt load relative to assets than 74% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

5.07x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

86th percentile

34%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$347,371

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

43rd percentile

2.5%

Faster asset growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

83rd percentile

24%

Faster revenue growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$35,263,028

Up $854,659 (+2.5%) from 2018

Net Assets

Up

$15,873,099

Up $1,314,291 (+9.0%) from 2018

Liabilities

Down

$19,389,929

Down $459,632 (-2.3%) from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin86th percentile

Revenue

Up

$3,825,877

Up $737,028 (+24%) from 2018

Expenses

Up

$2,511,589

Up $451,070 (+22%) from 2018

Net Income

Up

$1,314,288

Up $285,958 (+28%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

2019

Assets$35,263,028
Liabilities$19,389,929
Net Assets$15,873,099
Open 2019 Filing

Operations Trend

Revenue Growth83rd percentile

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

2019

Revenue$3,825,877
Expenses$2,511,589
Net Income$1,314,288
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 15, 2019
Return Version
2018v3.2
Gross Receipts
$3,864,067
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$8,273,590$9,237,669▲ $964,079
Savings and Temporary Cash Investments$4,748,681$5,004,318▲ $255,637
Land, Buildings, and Equipment, Net$1,378,583$1,340,392▼ $38,191
Accounts Receivable$10,000$10,000→ $0
Total Assets$34,408,369$35,263,028▲ $854,659
Other Assets Total$19,997,515$19,670,649▼ $326,866
Liabilities
Tax Exempt Bond Liabilities$18,675,571$18,237,336▼ $438,235
Accounts Payable and Accrued Expenses$760,860$760,860→ $0
Mortgage Notes Payable Secured by Investment Property$234,849$217,782▼ $17,067
Other Liabilities$178,278$173,951▼ $4,327
Total Liabilities$19,849,558$19,389,929▼ $459,629
Net Assets / Fund Balance
Unrestricted Net Assets$14,558,811$15,873,099▲ $1,314,288
Total Net Assets Fund Balance$14,558,811$15,873,099▲ $1,314,288
Total Liabilities and Net Assets / Fund Balance$34,408,369$35,263,028▲ $854,659

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$950,125$764,328$1,714,453
Land$390,267-$390,267
Other Assets Org$1,433,313--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$7,921,274$176,373--$8,504,715
2017$8,041,792$222,382--$7,921,274
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
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Anthony HollomanExecutive DiFT$172,847$172,847

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,805,221
Program Service Revenue
$832,337
Investment Income
$151,253
Other Revenue
$1,037,066
All Other Contributions
$1,805,221
Change in Net Assets
$1,314,288
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,707,400
Grants and Similar Amounts Paid$804,189
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$804,189--$804,189
Occupancy$699,014--$699,014
Travel-$224,755-$224,755
Fees for Service Investment Mgmnt Fees$96,879--$96,879
Conferences and Meetings-$49,150-$49,150
Office Expenses-$17,430-$17,430
Other Expenses-$700-$700
Total Functional Expenses$1,600,082$911,507$0$2,511,589
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fort Valley State UniversityFort Valley, GA-Scholarships for Stu$804,189
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$173,951

Bond Issues

BondIssuerIssuedIssue PricePurpose
ARevenue Bonds - Peach Co2013-05-01$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
2019-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Holloman
Legal Domicile
Ga
Voting Board Members
22
Independent Board Members
21
Employees
0

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
Jason a Peacock
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 2018 or 2017. 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 2016. Wildcat commons, the subsidiary, is treated as a disregarded entity for federal and state income tax purposes and are included in the foundation's annual filing.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASE RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ASSETS LIMITED AS TO USE

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$35,263,028
Liabilities
$19,389,929
Net assets
$15,873,099
Revenue
$3,825,877
Expenses
$2,511,589
Net income
$1,314,288
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