Civic Intelligence

Fort Valley State University Foundation Inc.

990 • Fiscal year 2022 • EIN 23-7281905

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

75th percentile

0.51x

Higher debt load relative to assets than 75% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

61.29x

Higher debt load relative to revenue than 99% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

3rd percentile

-144%

Higher net margin than 3% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

71st percentile

$356,536

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 117.4% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

49th percentile

-0.1%

Faster asset growth than 49% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

2nd percentile

-84%

Faster revenue growth than 2% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$36,188,796

Down $31,180 (-0.1%) from 2021

Net Assets

Up

$17,568,499

Up $835,316 (+5.0%) from 2021

Liabilities

Down

$18,620,297

Down $866,496 (-4.4%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Down

$303,819

Down $1,600,101 (-84%) from 2021

Expenses

Up

$742,420

Up $66,315 (+9.8%) from 2021

Net Income

Down

-$438,601

Down $1,666,416 (-136%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2022

Assets$36,188,796
Liabilities$18,620,297
Net Assets$17,568,499
Open 2022 Filing

Operations Trend

Revenue Growth2nd 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

2022

Revenue$303,819
Expenses$742,420
Net Income-$438,601
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$303,819
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$11,608,616$11,061,634▼ $546,982
Cash and Non-Interest-Bearing Accounts$4,884,971$4,883,628▼ $1,343
Land, Buildings, and Equipment, Net$1,264,013$1,225,823▼ $38,190
Accounts Receivable$10,000$10,000→ $0
Total Assets$37,194,648$36,188,796▼ $1,005,852
Other Assets Total$19,427,048$19,007,711▼ $419,337
Liabilities
Tax Exempt Bond Liabilities$17,239,290$16,679,300▼ $559,990
Accounts Payable and Accrued Expenses$1,116,986$1,115,425▼ $1,561
Other Liabilities$648,174$642,474▼ $5,700
Mortgage Notes Payable Secured by Investment Property$183,098$183,098→ $0
Total Liabilities$19,187,548$18,620,297▼ $567,251
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,007,100$17,568,499▼ $438,601
Total Net Assets Fund Balance$18,007,100$17,568,499▼ $438,601
Total Liabilities and Net Assets / Fund Balance$37,194,648$36,188,796▼ $1,005,852

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$835,556$878,897$1,714,453
Land$390,267-$390,267
Other Assets Org$2,328,412--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$9,396,952---$9,396,952
2019$8,504,715$113,018--$9,396,952
2018$7,921,274$176,373--$8,504,715
2017$8,041,792$222,382--$7,921,274
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Anthony HollomanExecutive DiFT$191,660$191,660

Board Members and Trustees

NameTitle
Calvin SmyreChairman
Andrew ReeseDirector
Angela FussellDirector
Barbara PalmerDirector
David DanzieDirector
Gary LeeDirector
Gita GardnerDirector
Gwendolyn ReevesDirector
Hollis TownsDirector
Isaac CrumblyDirector
Jarius JonesDirector
Johnnie BookerDirector
Kenneth HowardDirector
Krystal ConnerDirector
Lou Ann GrossDirector
Melvin Douglas MorrisDirector
Nicholas HarrisonDirector
Patty James-bentleyDirector
Paul JonesDirector
Phyllis KitchensDirector
Rufus GreenDirector
Vernard HodgesDirector
Yn MyersDirector
Anthony HollomanExecutive Director
Karen WrightInterim Exec
Cynthia CarterSecretary
Charles RobinsonTreasurer
Lawrence MarableVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$815,713
Investment Income
$201,727
Other Revenue
$-713,621
Change in Net Assets
$-438,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$742,420
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$669,360$38,094-$707,454
Fees for Service Investment Mgmnt Fees$34,966--$34,966
Total Functional Expenses$704,326$38,094$0$742,420
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
Due to Wildcat Commons$483,000
Accrued Interest$159,474

Bond Issues

BondIssuerIssuedIssue PricePurpose
ARevenue Bonds - Peach County2013-05-01$20,490,000To refinance 2008 revenue bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
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
Business relationship with 35% controlled entity
No
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
No
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
Karen Wright
Title
Interim Exec. Direct
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Holloman
Legal Domicile
Ga
Voting Board Members
27
Independent Board Members
25
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.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27INTERIM EXEC
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE 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.
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IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt038094
IRS990/OccupancyGrp/ProgramServicesAmt0669360
IRS990/OccupancyGrp/TotalAmt0707454
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherLiabilitiesGrp/EOYAmt0642474
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IRS990/OtherRevenueTotalAmt0-713621
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY HOLLOMAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT HOUSING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0815713
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0815713
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02217599
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IRS990/PYProgramServiceRevenueAmt0822475
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NET UNREALIZED AND REALIZED GAINS 3,303,806
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02117908
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt09396952
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt08504715
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0113018
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt09396952
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt07921274
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0176373
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0390267
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt016679299
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12328412
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASE RECEIVABLE

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,188,796
Liabilities
$18,620,297
Net assets
$17,568,499
Revenue
$303,819
Expenses
$742,420
Net income
-$438,601
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