Civic Intelligence

Augusta University Foundation Inc.

990 • Fiscal year 2015 • EIN 58-6038134

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

1120 15th Street No Fi1051Augusta, GA 30912

(706) 737-3073

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.55x

Higher debt load relative to assets than 72% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

7.48x

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

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

72nd percentile

13%

Higher net margin than 72% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

79th percentile

$660,479

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 12.1% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

13th percentile

-5.2%

Faster asset growth than 13% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

81st percentile

19%

Faster revenue growth than 81% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Down

$73,829,820

Down $4,084,936 (-5.2%) from 2014

Net Assets

Down

$33,112,747

Down $110,807 (-0.3%) from 2014

Liabilities

Down

$40,717,073

Down $3,974,129 (-8.9%) from 2014

Revenue

Up

$5,443,313

Up $887,780 (+19%) from 2014

Expenses

Up

$4,719,723

Up $1,702,084 (+56%) from 2014

Net Income

Down

$723,590

Down $814,304 (-53%) from 2014

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $82,618,123Liabilities 2011: $53,594,783Net Assets 2011: $29,023,3402011Assets 2012: $79,928,226Liabilities 2012: $51,446,384Net Assets 2012: $28,481,8422012Assets 2013: $75,932,678Liabilities 2013: $46,678,178Net Assets 2013: $29,254,5002013Assets 2014: $77,914,756Liabilities 2014: $44,691,202Net Assets 2014: $33,223,5542014Assets 2015: $73,829,820Liabilities 2015: $40,717,073Net Assets 2015: $33,112,7472015Assets 2016: $71,180,176Liabilities 2016: $38,502,836Net Assets 2016: $32,677,3402016Assets 2017: $72,513,818Liabilities 2017: $36,699,162Net Assets 2017: $35,814,6562017Assets 2018: $72,500,961Liabilities 2018: $34,592,621Net Assets 2018: $37,908,3402018Assets 2019: $72,164,552Liabilities 2019: $32,274,506Net Assets 2019: $39,890,0462019Assets 2020: $72,304,367Liabilities 2020: $30,042,361Net Assets 2020: $42,262,0062020Assets 2021: $77,382,154Liabilities 2021: $28,102,737Net Assets 2021: $49,279,4172021Assets 2022: $77,306,774Liabilities 2022: $26,174,749Net Assets 2022: $51,132,0252022Assets 2023: $106,003,301Liabilities 2023: $25,940,163Net Assets 2023: $80,063,1382023Assets 2024: $120,060,266Liabilities 2024: $23,929,273Net Assets 2024: $96,130,9932024Assets 2025: $125,366,080Liabilities 2025: $23,767,680Net Assets 2025: $101,598,4002025

Highlighted filing

2015

Assets$73,829,820
Liabilities$40,717,073
Net Assets$33,112,747

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2011: $5,055,192Expenses 2011: $4,058,857Net Income 2011: $996,3352011Expenses 2012: $3,834,5392012Expenses 2013: $3,190,7702013Revenue 2014: $4,555,533Expenses 2014: $3,017,639Net Income 2014: $1,537,8942014Revenue 2015: $5,443,313Expenses 2015: $4,719,723Net Income 2015: $723,5902015Revenue 2016: $5,512,632Expenses 2016: $5,098,475Net Income 2016: $414,1572016Revenue 2017: $6,605,240Expenses 2017: $4,929,813Net Income 2017: $1,675,4272017Revenue 2018: $7,052,970Expenses 2018: $5,143,702Net Income 2018: $1,909,2682018Revenue 2019: $8,765,230Expenses 2019: $4,615,025Net Income 2019: $4,150,2052019Revenue 2020: $13,037,221Expenses 2020: $4,755,370Net Income 2020: $8,281,8512020Revenue 2021: $9,045,973Expenses 2021: $8,582,234Net Income 2021: $463,7392021Revenue 2022: $13,924,556Expenses 2022: $4,362,839Net Income 2022: $9,561,7172022Revenue 2023: $41,048,641Expenses 2023: $14,011,754Net Income 2023: $27,036,8872023Revenue 2024: $24,337,724Expenses 2024: $14,048,156Net Income 2024: $10,289,5682024Revenue 2025: $16,195,107Expenses 2025: $16,822,711Net Income 2025: -$627,6042025

Highlighted filing

2015

Revenue$5,443,313
Expenses$4,719,723
Net Income$723,590
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$12,794,434
Mission and Program Overview

Mission

To raise private support from individuals, corporations, foundations, and others to further the interests of augusta university. Other purposes of the foundation are to establish and maintain endowments and provide the administration for handling all private support.

Establishing and administering endowment funds for the benefit of georgia regents university augusta.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$43,086,668$39,503,338▼ $3,583,330
Investments in Publicly Traded Securities$19,393,630$16,190,952▼ $3,202,678
Investments Other Securities$10,091,787$11,831,489▲ $1,739,702
Savings and Temporary Cash Investments$2,830,817$3,890,412▲ $1,059,595
Land, Buildings, and Equipment, Net$942,223$927,251▼ $14,972
Pledges and Grants Receivable$265,540$227,946▼ $37,594
Accounts Receivable$22,112$56,390▲ $34,278
Total Assets$77,914,756$73,829,820▼ $4,084,936
Other Assets Total$1,281,979$1,202,042▼ $79,937
Liabilities
Mortgage Notes Payable Secured by Investment Property$29,673,817$28,626,719▼ $1,047,098
Other Liabilities$14,393,749$11,480,372▼ $2,913,377
Accounts Payable and Accrued Expenses$623,636$581,649▼ $41,987
Deferred Revenue-$28,333-
Total Liabilities$44,691,202$40,717,073▼ $3,974,129
Net Assets / Fund Balance
Permanently Rstr Net Assets$17,407,863$17,830,708▲ $422,845
Temporarily Rstr Net Assets$13,545,082$13,020,663▼ $524,419
Unrestricted Net Assets$2,270,609$2,261,376▼ $9,233
Total Net Assets Fund Balance$33,223,554$33,112,747▼ $110,807
Total Liabilities and Net Assets / Fund Balance$77,914,756$73,829,820▼ $4,084,936

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$545,223$38,677$583,900
Land$382,028-$382,028
Other Securities$1,443,322--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$25,409,153$422,845▲ $108,333-$25,328,443
2013$22,134,461$189,991▲ $3,596,477-$25,409,153
2012$19,653,690$445,547▲ $2,508,009-$22,134,461
2011$20,349,409$495,174▼ $613,895-$19,653,690
2010$17,759,283$363,868▲ $3,051,513-$20,349,409
Compensation and Service Providers

Board Members and Trustees

NameTitle
William R TooleChair
Stacy a TallentVice Chair
Adam WilliamsBoard Member
Alvin HarrisBoard Member
Anita WyldsBoard Member
BILL D'ANTIGNACBoard Member
Barbara W SimsBoard Member
Bernard SilversteinBoard Member
Brad UsryBoard Member
Christian StrackeBoard Member
Dennis SodomkaBoard Member
Edwin L DouglassBoard Member
George C PursleyBoard Member
George-ann KnoxBoard Member
Gerald W ShumpertBoard Member
Gretchen CaughmanBoard Member
J Carlisle OverstreetBoard Member
James L KendrickBoard Member
Jean DuncanBoard Member
Jim W JathoBoard Member
John C BellBoard Member
Mary H AndersonBoard Member
Pam DoumarBoard Member
Phil WahlBoard Member
Rhonda GraybealBoard Member
Ricardo AzzizBoard Member
Sandra L CarrawayBoard Member
Stephen KendrickBoard Member
Susan BarcusBoard Member
Tony WagnerBoard Member
Victor MillsBoard Member
William KuhlkeBoard Member
Susan T HunnicuttSecretary-treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,572,687
Program Service Revenue
$0
Investment Income
$2,299,270
Other Revenue
$571,356
All Other Contributions
$2,572,687
Change in Net Assets
$723,590

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,230,622
Revenue Not Reported on Financial Statements
$212,691
Revenue Not Reported on Form 990
$-834,397
Total Revenue per Audited Statements
$4,396,225
Total Revenue per Form 990
$5,443,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,765,349
Grants and Similar Amounts Paid$1,954,374
Total Fundraising Expense$73,946
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,954,374--$1,954,374
Interest$1,047,451--$1,047,451
Fees for Service Investment Mgmnt Fees$212,691--$212,691
Other Expenses$133,123--$133,123
All Other Expenses$10,842-$73,946$84,788
Depreciation Depletion$15,472--$15,472
Total Functional Expenses$4,645,777$0$73,946$4,719,723

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,719,723
Expenses per Audited Statements$4,507,032
Total Expenses per Audited Statements$4,507,032
Expenses Not Reported on Financial Statements$212,691
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Georgia Regents University AugustaAugusta, GA-Academic Support$1,954,374
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
Unearned Interest Revenue$11,480,372

Bond Issues

BondIssuerIssuedIssue PricePurpose
CDevelopment Authority of Richmond County2012-11-28$19,151,254Refunding revenue bonds series 2012
ADevelopment Authority of Richmond County2004-08-19$19,113,025Educational facilities - student housing
BDevelopment Authority of Richmond County2005-02-03$10,997,518Educational facilities - student center
DDevelopment Authority of Richmond County2014-10-30$10,365,097Refunding revenue bonds series 2014

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,151,254-$430,000$315,845
B$10,365,097--$217,448
C----
D----

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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

A copy of the form 990 was submitted to asu foundation's governing body before filing with the irs.

Form 990, Part VI, Section B, Line 12C

Management and the executive committee of the board of trustees actively monitor compliance with the conflict of interest policy.

Form 990, Part VI, Section C, Line 19

Augusta state university foundation, inc. Provides all governing documents, financial statements and form 990 available upon request.

Filing and Contact Details

Filer

Filer Name
Augusta State University Foundation Inc
EIN
58-6038134
Phone
7067373073
Address
1120 15TH STREET NO FI1051, AUGUSTA, GA 30912

Signing Officer

Name
Susan Hunnicut
Title
Secretary-treasuer
Phone
7067217821
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Hunnicutt
Formed
1967
Legal Domicile
Ga
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
26

Preparer

Firm
Serotta Maddocks Evans & Co Cpas
Address
701 GREENE STREET SUITE 200, AUGUSTA, GA 30901
Preparer
Michelle Bennett
Phone
7067225337
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 2C:

The executive committee of the board of trustees oversees the audit process.

Financial Statement Notes

PART X, LINE 2:

The foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code. It has been classified as an organization that is not a private foundation under section 509(a)(1) of the internal revenue code and qualifies for the 50% charitable contribution deduction for individual donors. Therefore, no provision for income taxes has been made in the accompanying financial statements. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability (or asset) if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has analyzed the tax positions taken by the foundation, and has concluded that as of june 30, 2015 and 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. At june 30, 2015, the following years are subject to examination by major tax jurisdictions: federal 2011 - 2013 georgia 2011 - 2013 the foundation files a consolidated informational return with the four limited liability companies: asu jaguar student housing i, llc, asu jaguar student center, llc, asu jaguar ventures, llc, and asu student life center, llc, in which the foundation is the single member.

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IRS990/Form990PartVIISectionAGrp/PersonNm31STACY A TALLENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt31VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt32SECRETARY-TREASURER
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IRS990/FormationYr01967
IRS990/FormerOfcrEmployeesListedInd00
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$125$23.8$102$16.2$16.8$0.63
2024Detailed filing. Detailed filing data is available for this year.$120$23.9$96.1$24.3$14.0$10.3
2023Detailed filing. Detailed filing data is available for this year.$106$25.9$80.1$41.0$14.0$27.0
2022Detailed filing. Detailed filing data is available for this year.$77.3$26.2$51.1$13.9$4.36$9.56
2021Detailed filing. Detailed filing data is available for this year.$77.4$28.1$49.3$9.05$8.58$0.46
2020Detailed filing. Detailed filing data is available for this year.$72.3$30.0$42.3$13.0$4.76$8.28
2019Detailed filing. Detailed filing data is available for this year.$72.2$32.3$39.9$8.77$4.62$4.15
2018Detailed filing. Detailed filing data is available for this year.$72.5$34.6$37.9$7.05$5.14$1.91
2017Detailed filing. Detailed filing data is available for this year.$72.5$36.7$35.8$6.61$4.93$1.68
2016Summary only. Only limited summary data is available for this year.$71.2$38.5$32.7$5.51$5.10$0.41
2015Detailed filing. Detailed filing data is available for this year.$73.8$40.7$33.1$5.44$4.72$0.72
2014Detailed filing. Detailed filing data is available for this year.$77.9$44.7$33.2$4.56$3.02$1.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.9$46.7$29.3$3.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.9$51.4$28.5$3.83
2011Summary only. Only limited summary data is available for this year.$82.6$53.6$29.0$5.06$4.06$1.00
Peer Organizations

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