Georgia Independent College Association Inc
- Assets
- $19.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Atlanta, GA
- Founding
- 04/1958
- Data as of
- 12/2021
- EIN
- 58-0684740
Organization Overview
Georgia Independent College Association Inc is located in Atlanta, GA. The organization was established in 1958. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2021, Georgia Independent College Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Independent College Association 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 12/2021, Georgia Independent College Association Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Georgia Independent College Association Inc has awarded 162 individual grants totaling $4,673,291. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AWARENESS OF GEORGIA'S PRIVATE, LIBERAL ARTS COLLEGES AND UNIVERSITIES; TO INFLUENCE PUBLIC POLICY IN SUPPORT OF HIGHER EDUCATION IN GEORGIA; TO SECURE FUNDS AND OTHER GIFTS FOR THE BENEFIT OF THE MEMBER INSTITUTIONS AND THEIR STUDENTS; TO PROMOTE THE MEMBER INSTITUTIONS AS DISTINCT ALTERNATIVES IN HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND ALLOCATIONS: IN ACCORDANCE WITH THE EXECUTIVE COMMITTEE APPROVED DISTRIBUTION OF FUNDS POLICY OF GICA, ALL UNDESIGNATED FUNDS ARE DISTRIBUTED 60 PERCENT EQUALLY TO THE MEMBER COLLEGES AND 40 PERCENT TO SUCH COLLEGES IN PROPORTION TO TOTAL REGULAR, FULL-TIME UNDERGRADUATE ENROLLMENT IN THE COLLEGES OF ARTS AND SCIENCES. DESIGNATED FUNDS ARE DISTRIBUTED TO THE COLLEGES SPECIFIED BY THE DONOR.
COMPLIANCE COLLABORATIVE PROGRAM: THE COMPLIANCE COLLABORATIVE PROGRAM ("CCP") IS A COLLABORATION OF 14 GICA MEMBER INSTITUTIONS TO ASSIST PARTICIPANTS BY PROVIDING TRAINING AND GUIDANCE REGARDING VARIOUS COMPLIANCE-RELATED ISSUES UNDER THE GUIDANCE OF THE COMPLIANCE PROGRAM DIRECTOR. THE IMMEDIATE AREAS OF FOCUS INCLUDE THE AMERICANS WITH DISABILITIES ACT, TITLE IX, THE CLERY ACT, AND THE VIOLENCE AGAINST WOMEN ACT. HOWEVER, THE EXACT TOPICS WILL SHIFT IN ANY GIVEN YEAR WITH THE NEEDS OF THE PARTICIPATING INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenna Colvin President | Officer | 40 | $216,688 |
Lisa Macke Vice President | Officer | 40 | $93,550 |
Keith H Shurbutt Treasurer | OfficerTrustee | 1 | $0 |
Vivia Fowler Chair | OfficerTrustee | 1 | $0 |
Linda Buchanan At Large | Trustee | 1 | $0 |
Stephen R Briggs Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $871,815 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,126,515 |
| Total Program Service Revenue | $119,956 |
| Investment income | $996,981 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $758,063 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,001,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $598,251 |
| 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. | $341,218 |
| Compensation of current officers, directors, key employees. | $44,357 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $175,335 |
| Pension plan accruals and contributions | $16,675 |
| Other employee benefits | $95,725 |
| Payroll taxes | $34,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,549 |
| Fees for services: Lobbying | $70,726 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $63,176 |
| Fees for services: Other | $24,431 |
| Advertising and promotion | $0 |
| Office expenses | $18,789 |
| Information technology | $17,850 |
| Royalties | $0 |
| Occupancy | $36,217 |
| Travel | $16,304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,917 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,750 |
| Insurance | $4,585 |
| All other expenses | $8,474 |
| Total functional expenses | $1,691,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,639 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,298 |
| 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 | $12,378 |
| Net Land, buildings, and equipment | $799 |
| Investments—publicly traded securities | $18,002,782 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $967,676 |
| Total assets | $19,581,572 |
| Accounts payable and accrued expenses | $21,624 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $26,624 |
| Net assets without donor restrictions | $2,951,827 |
| Net assets with donor restrictions | $16,603,121 |
| 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 | $19,581,572 |
Grants Awarded
Over the last fiscal year, Georgia Independent College Association Inc has awarded $568,351 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Macon, GA PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $103,938 |
Mount Berry, GA PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $66,075 |
Gainesville, GA PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $62,311 |
OGLETHORPE UNIVERSITY PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $58,163 |
PIEDMONT COLLEGE PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $57,347 |
Rome, GA PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $56,151 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Georgia Independent College Association Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
William E Honey Foundation Inc Conyers, GA PURPOSE: UNRESTRICTED | $3,000 |
Colonial Foundation Inc Savannah, GA PURPOSE: CONTRIBUTION | $3,000 |
Endowment Analysis
| Beg. Balance | $16,030,963 |
| Earnings | $2,490,544 |
| Admin Expense | $63,176 |
| Net Contributions | $95,665 |
| Grants | $551,214 |
| Ending Balance | $18,002,782 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transylvania Vocational Services Inc Brevard, NC | $52,218,118 | $34,183,028 |
University System Of Georgia Foundation Inc Atlanta, GA | $572,651,205 | $27,479,908 |
Champions For Education Inc Charlotte, NC | $4,769,828 | $14,830,024 |
Atlanta Neighborhood Charter School Inc Atlanta, GA | $8,677,734 | $16,201,042 |
Campus Development Foundation Inc Chattanooga, TN | $70,898,605 | $12,373,348 |
Pinellas County Education Foundation Inc Largo, FL | $46,058,719 | $8,082,359 |
Hephzibah Charter Foundation Inc Hephzibah, GA | $10,181,498 | $8,307,126 |
Foundation Properties Inc Columbus, GA | $108,758,689 | $6,742,153 |
Nc State Engineering Foundation Inc Raleigh, NC | $172,988,383 | $18,412,442 |
Georgia Student Scholarship Organization Sso Inc Cumming, GA | $4,146,288 | $9,720,252 |
Excelsior Academies Inc Miami, FL | $11,544,923 | $8,167,644 |
Brevard Schools Foundation Inc Viera, FL | $7,221,686 | $4,889,607 |