Civic Intelligence

Fort Valley State University Foundation Inc.

990 • Fiscal year 2023 • EIN 23-7281905

Jul 01, 2022 to Jun 30, 2023 • Filed on May 08, 2024

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

0.51x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

4.03x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

46th percentile

2.3%

Higher net margin than 46% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

66th percentile

$333,076

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

19th percentile

-2.7%

Faster asset growth than 19% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

1356%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$35,228,716

Down $960,080 (-2.7%) from 2022

Net Assets

Down

$17,410,180

Down $158,319 (-0.9%) from 2022

Liabilities

Down

$17,818,536

Down $801,761 (-4.3%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin46th percentile

Revenue

Up

$4,424,406

Up $4,120,587 (+1356%) from 2022

Expenses

Up

$4,323,449

Up $3,581,029 (+482%) from 2022

Net Income

Up

$100,957

Up $539,558 (+123%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth19th 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

2023

Assets$35,228,716
Liabilities$17,818,536
Net Assets$17,410,180
Open 2023 Filing

Operations Trend

Revenue Growth99th 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

2023

Revenue$4,424,406
Expenses$4,323,449
Net Income$100,957
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$4,424,406
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$11,877,046$12,311,637▲ $434,591
Cash and Non-Interest-Bearing Accounts$3,236,855$2,641,517▼ $595,338
Land, Buildings, and Equipment, Net$1,225,823$1,187,667▼ $38,156
Accounts Receivable$10,000$10,000→ $0
Total Assets$35,357,435$35,228,716▼ $128,719
Other Assets Total$19,007,711$19,077,895▲ $70,184
Liabilities
Tax Exempt Bond Liabilities$16,679,300$16,064,479▼ $614,821
Accounts Payable and Accrued Expenses$1,115,425$1,523,219▲ $407,794
Other Liabilities$159,474$154,935▼ $4,539
Mortgage Notes Payable Secured by Investment Property$94,013$75,903▼ $18,110
Total Liabilities$18,048,212$17,818,536▼ $229,676
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,309,223$17,410,180▲ $100,957
Total Net Assets Fund Balance$17,309,223$17,410,180▲ $100,957
Total Liabilities and Net Assets / Fund Balance$35,357,435$35,228,716▼ $128,719

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$797,400$917,053$1,714,453
Land$390,267-$390,267
Other Assets Org$3,013,416--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$12,236,147$490,138--$12,742,420
2021$11,973,914$2,689,949--$11,762,126
2020$9,396,952$490,442--$9,396,952
2019$8,504,715$113,018--$9,396,952
2018$7,921,274$176,373--$8,504,715
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Anthony HollomanExecutive DiPT$122,250$122,250
Karen WrightExecutive DiFT$40,976$40,976

Board Members and Trustees

NameTitle
Calvin SmyreChairman
Lawrence MarableVice Chairma
Andrew a ReeseDirector
Angela FussellDirector
Barbara PalmerDirector
Charles RobinsonDirector
David DanzieDirector
Gary LeeDirector
Gita GarnderDirector
Gwendolyn ReevesDirector
Hollis TownsDirector
Isaac CrumblyDirector
Jarius JonesDirector
Johnnie BookerDirector
Kenneth HowardDirector
Krystal ConnerDirector
Lou Ann GrossDirector
Melvin Doug MorrisDirector
Nicholas Xavier HarrisonDirector
Patty James-bentleyDirector
Paul JonesDirector
Phyllis Kitchens-thurmondDirector
Rufus GreenDirector
Theodore DanielsDirector
Vernard HodgesDirector
Yewston N Myers IiiDirector
Anthony HollomanExecutive Director
Cynthia CarterSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,816,960
Program Service Revenue
$1,391,589
Investment Income
$224,299
Other Revenue
$991,558
All Other Contributions
$1,816,960
Change in Net Assets
$100,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,378,822
Grants and Similar Amounts Paid$1,944,627
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,944,627--$1,944,627
Other Expenses-$1,254,681-$1,254,681
Occupancy$651,729--$651,729
Conferences and Meetings-$176,640-$176,640
Fees for Service Investment Mgmnt Fees$117,657--$117,657
Travel-$100,990-$100,990
Office Expenses-$56,210-$56,210
Advertising-$20,915-$20,915
Total Functional Expenses$2,714,013$1,609,436$0$4,323,449
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$154,935

Bond Issues

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

Bond Proceeds

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

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
Executive Director
Signed
2024-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Wright
Legal Domicile
Ga
Voting Board Members
28
Independent Board Members
27
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/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/TitleTxt27DIRECTOR
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$35,228,716
Liabilities
$17,818,536
Net assets
$17,410,180
Revenue
$4,424,406
Expenses
$4,323,449
Net income
$100,957
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