Georgia Southern University Housing Foundation Inc
- Assets
- $249.2m
- Revenue
- $10.4m
- Investments
- $5.6m
- Employees
- 0
- Location
- Statesboro, GA
- Founding
- 06/2002
- Data as of
- 06/2022
- EIN
- 30-0037158
Organization Overview
Georgia Southern University Housing Foundation Inc is located in Statesboro, GA. The organization was established in 2002. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Southern University Housing Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Georgia Southern University Housing Foundation Inc generated $10.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $8.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO ACQUIRE, CONSTRUCT OR IMPROVE STUDENT HOUSING OR OTHER STUDENT FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY, A PUBLIC UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACQUIRE, CONSTRUCT OR IMPROVE STUDENT HOUSING FACILITIES OR OTHER STUDENT FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Pinyan Board Vice-C | OfficerTrustee | 0.5 | $0 |
Chad Wiggins Board Chair | OfficerTrustee | 0.5 | $0 |
Kyle Marrero President | OfficerTrustee | 0.5 | $0 |
Ron Stalnaker Treasurer | OfficerTrustee | 0.5 | $0 |
Robert L Whitaker Assistant Tr | Officer | 4 | $0 |
Maura Copeland Secretary | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Armstrong Apartments Llc Rent | 6/29/21 | $769,607 |
Murray Barnes Finister Llp Legal Services | 6/29/21 | $147,090 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,862,056 |
| Investment income | $388,424 |
| Tax Exempt Bond Proceeds | $123,218 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,373,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $578,817 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $71,708 |
| Fees for services: Legal | $24,416 |
| Fees for services: Accounting | $19,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $172,403 |
| Advertising and promotion | $0 |
| Office expenses | $667 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $310 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,617,240 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,179 |
| All other expenses | $0 |
| Total functional expenses | $8,793,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,148,747 |
| Savings and temporary cash investments | $35,054,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $206 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,074,518 |
| Net Land, buildings, and equipment | $2,375,987 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,632,985 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,888,325 |
| Total assets | $249,175,255 |
| Accounts payable and accrued expenses | $3,421,335 |
| Grants payable | $0 |
| Deferred revenue | $50,327 |
| Tax-exempt bond liabilities | $209,203,271 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,463,566 |
| Total liabilities | $216,138,499 |
| Net assets without donor restrictions | $33,036,756 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $249,175,255 |
Grants Awarded
Over the last fiscal year, Georgia Southern University Housing Foundation Inc has awarded $625,850 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA SOUTHERN UNIVERSITY PURPOSE: STUDENT FACILITIES | $438,750 |
GEORGIA SOUTHERN UNIVERSITY PURPOSE: STUDENT HSING ASSIST | $187,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Southern University Housing Foundation Inc Statesboro, GA | $249,175,255 | $10,373,698 |
Appalachian Student Housing Corporation Boone, NC | $99,024,525 | $6,456,684 |
Bloom Our Youth Inc Fayetteville, GA | $3,984,539 | $4,314,160 |
Serenity Pointe Inc Dunlap, TN | $2,490,170 | $4,102,577 |
Transition House Of Washington Inc Saint Cloud, FL | $1,607,581 | $3,946,761 |
Crossing The Jordan Foundation Inc Weston, FL | $358,334 | $2,743,535 |
Greenpointe Regional Housing Inc Dunn, NC | $10,308,542 | $2,284,690 |
Open Table Of Nashville Inc Nashville, TN | $444,222 | $1,157,501 |
Rainbow Village Inc Duluth, GA | $9,090,525 | $2,152,472 |
Veterans Life Center Raleigh, NC | $1,727,706 | $1,329,274 |
Homeless No More Inc Columbia, SC | $6,056,633 | $1,621,915 |
The Wellhouse Odenville, AL | $7,523,032 | $3,587,896 |