Civic Intelligence

Foundation Properties Inc.

990T • Fiscal year 2023 • EIN 58-1940977

Aug 01, 2022 to Jul 31, 2023 • Filed on May 13, 2024

Organization Profilen/a
4225 University AvenueColumbus, GA 31907-5645

(706) 565-3640

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

-

No earlier filing loaded for comparison.

Net Assets

-

No earlier filing loaded for comparison.

Liabilities

-

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

-

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $102,496,345Liabilities 2011: $90,439,363Net Assets 2011: $12,056,9822011Assets 2012: $100,940,839Liabilities 2012: $89,300,322Net Assets 2012: $11,640,5172012Assets 2013: $95,413,942Liabilities 2013: $79,957,715Net Assets 2013: $15,456,2272013Assets 2014: $95,302,944Liabilities 2014: $79,677,695Net Assets 2014: $15,625,2492014Assets 2015: $96,577,697Liabilities 2015: $73,479,612Net Assets 2015: $23,098,0852015Assets 2016: $111,152,471Liabilities 2016: $87,508,513Net Assets 2016: $23,643,9582016Assets 2017: $115,738,127Liabilities 2017: $91,733,660Net Assets 2017: $24,004,4672017Assets 2018: $114,321,353Liabilities 2018: $89,881,668Net Assets 2018: $24,439,6852018Assets 2019: $112,638,782Liabilities 2019: $87,007,389Net Assets 2019: $25,631,3932019Assets 2020: $108,758,689Liabilities 2020: $84,604,696Net Assets 2020: $24,153,9932020Assets 2021: $109,244,110Liabilities 2021: $84,897,977Net Assets 2021: $24,346,1332021Assets 2022: $80,383,881Liabilities 2022: $55,161,012Net Assets 2022: $25,222,8692022Assets 2023: $66,174,355Liabilities 2023: $40,999,008Net Assets 2023: $25,175,3472023Assets 2024: $37,846,619Liabilities 2024: $16,374,743Net Assets 2024: $21,471,8762024

Latest loaded filing

2024

Assets$37,846,619
Liabilities$16,374,743
Net Assets$21,471,876
Open 2024 Filing

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $6,792,4492011Expenses 2012: $6,825,0742012Revenue 2013: $9,678,719Expenses 2013: $5,957,461Net Income 2013: $3,721,2582013Revenue 2014: $6,251,798Expenses 2014: $6,110,224Net Income 2014: $141,5742014Revenue 2015: $12,645,688Expenses 2015: $5,159,319Net Income 2015: $7,486,3692015Revenue 2016: $5,186,413Expenses 2016: $4,621,638Net Income 2016: $564,7752016Revenue 2017: $5,024,940Expenses 2017: $4,746,317Net Income 2017: $278,6232017Revenue 2018: $5,344,649Expenses 2018: $5,025,095Net Income 2018: $319,5542018Revenue 2019: $5,996,503Expenses 2019: $4,896,810Net Income 2019: $1,099,6932019Revenue 2020: $6,742,153Expenses 2020: $8,473,918Net Income 2020: -$1,731,7652020Revenue 2021: $5,922,881Expenses 2021: $6,468,382Net Income 2021: -$545,5012021Revenue 2022: $6,179,282Expenses 2022: $4,563,482Net Income 2022: $1,615,8002022Revenue 2023: $5,430,634Expenses 2023: $4,688,225Net Income 2023: $742,4092023Revenue 2024: $595,589Expenses 2024: $4,299,058Net Income 2024: -$3,703,4692024

Latest loaded filing

2024

Revenue$595,589
Expenses$4,299,058
Net Income-$3,703,469
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
May 13, 2024
Return Version
2022v7.0
Mission and Program Overview

Mission

The principle purpose of Foundation Properties, Inc. shall be to promote the cause of higher education at Columbus State University, a unit of the University System of Georgia located in Columbus, GA, specifically through the management of real property affiliated with the University, holding real property for future development by the University and holding investment property for the benefit of the University.

Filing and Contact Details

Filer

Filer Name
Foundation Properties Inc
EIN
58-1940977
Phone
7065653640
Address
4225 University Avenue, Columbus, GA 31907-5645

Signing Officer

Name
Mitch Watkins
Title
Executive Director
Phone
7065653640
Signed
2024-05-13
Discuss with paid preparer
Yes

Preparer

Firm
Dougherty McKinnon & Luby LLC
Address
2521 Brookstone Centre Pkwy, Columbus, GA 31904
Preparer
Erica D Chestnutt
Phone
7064949630
Raw XML Appendix133 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990T/AvlblPre2018NOLCarryoverAmt03192920
IRS990T/BooksInCareOfDetail/PersonNm0Gena B Stone
IRS990T/BooksInCareOfDetail/PhoneNum07065078959
IRS990T/BooksInCareOfDetail/USAddress/AddressLine1Txt04225 University Avenue
IRS990T/BooksInCareOfDetail/USAddress/CityNm0Columbus
IRS990T/BooksInCareOfDetail/USAddress/StateAbbreviationCd0GA
IRS990T/BooksInCareOfDetail/USAddress/ZIPCd031907
IRS990T/BookValueAssetsEOYAmt066174355
IRS990T/ChangeInMethodOfAccountingInd00
IRS990T/CharitableContributionsDedAmt00
IRS990T/ForeignAccountsQuestionInd01
IRS990T/ForeignTrustQuestionInd00
IRS990T/Form990TScheduleAAttachedCnt01
IRS990T/ItmzdSupplementalInfoGrp/ExplanationTxt0Calculation of Average Acquisition Debt:1. Oglethorpe - Debt Balance - 7/31/22 $2,939,985 7/31/23 $2,265,737 Average $2,602,8612. Rankin Debt Balance - 7/31/22 $3,543,494 7/31/23 $2,730,839 Average $3,137,1673. One Arsenal Debt Balance - 7/31/22 $4,255,000 7/31/23 $ 0 Average $2,127,5004. 10th St & Broadway Debt Balance - 7/31/22 $1,173,152 7/31/23 $1,092,655 Average $1,132,904
IRS990T/ItmzdSupplementalInfoGrp/ExplanationTxt1Calculation of Avg Adjusted Basis:1. Oglethorpe Adjusted Basis at 7/31/22 $2,643,652 Adjusted Basis at 7/31/23 $2,522,611 Average $2,583,1322. Rankin Adjusted Basis at 7/31/22 $3,247,109 Adjusted Basis at 7/31/23 $3,077,611 Average $3,162,3603. One Arsenal Adjusted Basis at 7/31/22 $3,511,835 Adjusted Basis at 7/31/23 $3,237,113 Average $3,374,4744. 10th St & Broadway Adjusted Basis at 7/31/22 $1,156,442 Adjusted Basis at 7/31/23 $1,081,945 Average $1,119,193
IRS990T/ItmzdSupplementalInfoGrp/LineNum04
IRS990T/ItmzdSupplementalInfoGrp/LineNum15
IRS990T/ItmzdSupplementalInfoGrp/PartNum0V
IRS990T/ItmzdSupplementalInfoGrp/PartNum1v
IRS990T/NetOperatingLossDeductionAmt00
IRS990T/Organization501cCorporationInd0X
IRS990T/Organization501IndicatorGrp/Organization501cTypeTxt0c3
IRS990T/Organization501IndicatorGrp/Organization501Ind0X
IRS990T/PaidTaxLiabilityAmt00
IRS990T/Post2017NOLCarryoverGrp/AvlblPost2017NOLCarryoverAmt0464607
IRS990T/Post2017NOLCarryoverGrp/PrincipalBusinessActivityCd0531120
IRS990TScheduleA/NetOperatingLossDeductionAmt00
IRS990TScheduleA/NetUnrelatedDebtFincdIncmAmt0-232409
IRS990TScheduleA/PrincipalBusinessActivityCd0531120
IRS990TScheduleA/SequenceReferenceNum01
IRS990TScheduleA/SequenceTotalNum01
IRS990TScheduleA/TotalAllocableDeductionsAmt0558717
IRS990TScheduleA/TotalCtrlOrgDeductionAmt00
IRS990TScheduleA/TotalCtrlOrgPymtGrossIncmAmt00
IRS990TScheduleA/TotalDeductionsAmt00
IRS990TScheduleA/TotalDeductionSetAsidesAmt00
IRS990TScheduleA/TotalDirectAdvertisingCostAmt00
IRS990TScheduleA/TotalDividendsReceivedDedAmt00
IRS990TScheduleA/TotalGrossAdvertisingIncomeAmt00
IRS990TScheduleA/TotalGrossDebtFinancedIncmAmt0326308
IRS990TScheduleA/TotalInvestmentIncomeAmt00
IRS990TScheduleA/TotalRentDeductionsAmt00
IRS990TScheduleA/TotalRentIncomeAmt00
IRS990TScheduleA/TotalUnrelatedBusinessCompAmt00
IRS990TScheduleA/TotExcessReadershipCostsDedAmt00
IRS990TScheduleA/TotNetUnrltTrdBusIncmAmt0-232409
IRS990TScheduleA/TotUnrltTrdBusIncmAmt0326308
IRS990TScheduleA/TotUnrltTrdBusIncmExpnssAmt0558717
IRS990TScheduleA/TradeOrBusinessDesc0Rental of debt-financed commercial rental property
IRS990TScheduleA/UBIBeforeNOLDedAmt0-232409
IRS990TScheduleA/UnrelatedBusinessTaxblIncmAmt0-232409
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AllocableDeductionAmt041062
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AllocableDeductionAmt1191042
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AllocableDeductionAmt2179831
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AllocableDeductionAmt3146782
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionAdjBasisPct01.00000
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionAdjBasisPct10.99203
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionAdjBasisPct20.63047
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionAdjBasisPct31.00000
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionDebtAmt02602861
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionDebtAmt13137167
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionDebtAmt22127500
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAcquisitionDebtAmt31132904
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAdjustedBasisAmt02583132
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAdjustedBasisAmt13162360
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAdjustedBasisAmt23374474
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/AverageAdjustedBasisAmt31119193
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeAmt015483
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeAmt196099
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeAmt2277589
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeAmt340480
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeReportableAmt015483
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeReportableAmt195333
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeReportableAmt2175012
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/GrossIncomeReportableAmt340480
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/OtherDebtFinancedDeductionAmt041062
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/OtherDebtFinancedDeductionAmt1192577
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/OtherDebtFinancedDeductionAmt2285233
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/OtherDebtFinancedDeductionAmt3146782
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/PropertyDesc0Oglethorpe Property
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/PropertyDesc1Rankin Property
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/PropertyDesc2One Arsenal Property
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/PropertyDesc310th Street & Broadway
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/StraightLineDepreciationDedAmt00
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/StraightLineDepreciationDedAmt10
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/StraightLineDepreciationDedAmt20
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/StraightLineDepreciationDedAmt30
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/TotalDebtFinancedDeductionAmt041062
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/TotalDebtFinancedDeductionAmt1192577
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/TotalDebtFinancedDeductionAmt2285233
IRS990TScheduleA/UnrelatedDebtFinancedPropGrp/TotalDebtFinancedDeductionAmt3146782
IRS990T/SpecificDeductionAmt01000
IRS990T/SubsidiaryCorporationInd00
IRS990T/TaxableCorporationAmt00
IRS990T/TaxLessCreditsAmt00
IRS990T/TotalDeductionAmt01000
IRS990T/TotalTaxAmt00
IRS990T/TotalTaxComputationAmt00
IRS990T/TotalUBTIAmt00
IRS990T/TotalUBTIComputedAmt00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Mitch Watkins
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum07065653640
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Foundation Properties Inc
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0581940977
ReturnHeader/Filer/PhoneNum07065653640
ReturnHeader/Filer/USAddress/AddressLine1Txt04225 University Avenue
ReturnHeader/Filer/USAddress/CityNm0Columbus
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd0319075645
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0582283283
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Dougherty McKinnon & Luby LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02521 Brookstone Centre Pkwy
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Columbus
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd031904
ReturnHeader/PreparerPersonGrp/PhoneNum07064949630
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Erica D Chestnutt
ReturnHeader/ReturnTs02024-05-14T07:40:54-05:00
ReturnHeader/ReturnTypeCd0990T
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Mitch
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Watkins
ReturnHeader/TaxPeriodBeginDt02022-08-01
ReturnHeader/TaxPeriodEndDt02023-07-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990TFacts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
-
Liabilities
-
Net assets
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Revenue
-
Expenses
-
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.8$16.4$21.5$0.60$4.30$3.70
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$66.2$41.0$25.2$5.43$4.69$0.74
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.4$55.2$25.2$6.18$4.56$1.62
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$109$84.9$24.3$5.92$6.47$0.55
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$84.6$24.2$6.74$8.47$1.73
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$113$87.0$25.6$6.00$4.90$1.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$89.9$24.4$5.34$5.03$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$116$91.7$24.0$5.02$4.75$0.28
2016Detailed filing. Detailed filing data is available for this year.$111$87.5$23.6$5.19$4.62$0.56
2015Detailed filing. Detailed filing data is available for this year.$96.6$73.5$23.1$12.6$5.16$7.49
2014Detailed filing. Detailed filing data is available for this year.$95.3$79.7$15.6$6.25$6.11$0.14
2013Summary only. Only limited summary data is available for this year.$95.4$80.0$15.5$9.68$5.96$3.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$89.3$11.6$6.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$90.4$12.1$6.79