Medical College Of Georgia Foundation Inc
- Assets
- $352.1m
- Revenue
- $12.6m
- Investments
- $326.1m
- Employees
- 20
- Location
- Augusta, GA
- Founding
- 02/1959
- Data as of
- 06/2021
- EIN
- 58-0706796
Organization Overview
Medical College Of Georgia Foundation Inc is located in Augusta, GA. The organization was established in 1959. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Medical College Of Georgia Foundation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical College Of Georgia 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 06/2021, Medical College Of Georgia Foundation Inc generated $12.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $10.5m during the year ending 06/2021. While expenses have increased by 6.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MEDICAL COLLEGE OF GEORGIA FOUNDATION'S MOST SIGNIFICANT ACTIVITIES INVOLVE RECEIPTING, INVESTING AND DISTRIBUTING FUNDS FOR THE BENEFIT OF MEDICAL COLLEGE OF GEORGIA AND THE HEALTH SCIENCES AT AUGUSTA UNIVERSITY AND ITS RELATED TEACHING HOSPITAL. THE FOUNDATION WORKS WITH DONORS SEEKING TO MAKE CHARITABLE CONTRIBUTIONS FOR THE BENEFIT OF THE MEDICAL SCIENCES AT AUGUSTA UNIVERSITY. IT ALSO DISTRIBUTES MONIES TO THE MEDICAL SCIENCES AT AUGUSTA UNIVERSITY WHILE PROVIDING OVERSIGHT AND STEWARDSHIP OF THE CHARITABLE FUNDS ENTRUSTED TO IT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SERVES THE NEEDS AND INTERESTS OF THE MEDICAL COLLEGE OF GEORGIA, THE AUGUSTA UNIVERSITY HEALTH SCIENCES CAMPUS AND THE AUGUSTA UNIVERSITY HEALTH SYSTEM. THE FOUNDATION RECEIVES AND ADMINISTERS FUNDS FOR THE SUPPORT AND ENHANCEMENT OF THE MEDICAL COLLEGE OF GEORGIA, THE AUGUSTA UNIVERSITY HEALTH SCIENCES CAMPUS AND THE AUGUSTA UNIVERSITY HEALTH SYSTEM, AND MANAGES INVESTMENTS AND DISTRIBUTED FUNDS IN ACCORDANCE WITH DONOR INSTRUCTIONS AND BOARD OF DIRECTOR'S INTENTIONS FOR GIFTS. THE FOUNDATION PROVIDES SUPPORT FOR FACULTY CHAIRS, RESEARCH IN THE HEALTH SCIENCES FIELDS, SCHOLARSHIPS TO QUALIFIED STUDENTS AND OTHER INSTITUTIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian S Mercier President/ceo | Officer | 40 | $220,915 |
Martyn Jones Paceline President | Officer | 40 | $189,000 |
Tim Kearney COO | Officer | 40 | $163,641 |
Angela Rees CFO | Officer | 40 | $138,375 |
Sam W Richwine Jr MD Past Chairman | OfficerTrustee | 0.3 | $0 |
Charles G Green Jr MD 2nd Vice Chair | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $180,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,215,035 |
| Noncash contributions included in lines 1a–1f | $1,377,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,395,370 |
| Total Program Service Revenue | $0 |
| Investment income | $633,160 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$592,912 |
| Net Gain/Loss on Asset Sales | $1,171,820 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,607,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,875,596 |
| 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. | $728,901 |
| Compensation of current officers, directors, key employees. | $531,861 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $591,630 |
| Pension plan accruals and contributions | $35,046 |
| Other employee benefits | $79,081 |
| Payroll taxes | $78,002 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $851 |
| Fees for services: Accounting | $40,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,400 |
| Advertising and promotion | $170,866 |
| Office expenses | $76,560 |
| Information technology | $160,913 |
| Royalties | $0 |
| Occupancy | $94,373 |
| Travel | $8,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,079 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,919 |
| Insurance | $54,660 |
| All other expenses | $92,096 |
| Total functional expenses | $10,512,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,139,105 |
| Savings and temporary cash investments | $116,053 |
| Pledges and grants receivable | $1,837,637 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,327,520 |
| Investments—publicly traded securities | $3,474,378 |
| Investments—other securities | $326,078,694 |
| Investments—program-related | $905,059 |
| Intangible assets | $24,930 |
| Other assets | $177,652 |
| Total assets | $352,081,028 |
| Accounts payable and accrued expenses | $982,685 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $12,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $859,124 |
| Total liabilities | $13,841,809 |
| Net assets without donor restrictions | $47,366,777 |
| Net assets with donor restrictions | $290,872,442 |
| 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 | $352,081,028 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Medical College Of Georgia Foundation Inc has recieved totaling $501,802.
| Awarding Organization | Amount |
|---|---|
Georgia Community Foundation Inc Peachtree Corners, GA PURPOSE: CONTRIBUTION | $340,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $47,101 |
Augusta Metropolitan Convention And Visitors Bureau Inc Augusta, GA PURPOSE: TOURISM | $35,000 |
Communities Of Coastal Georgia Foundation Inc St Simons Island, GA PURPOSE: GENERAL SUPPORT | $20,000 |
Musculoskeletal Transplant Foundation Inc Edison, NJ PURPOSE: RESIDENT EDUCATION | $8,500 |
Endowment Analysis
| Beg. Balance | $313,526,441 |
| Earnings | -$29,611,365 |
| Net Contributions | $6,968,525 |
| Other Expense | $13,158,379 |
| Ending Balance | $277,725,222 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
Seminole County Coalition For School Readiness Inc Longwood, FL | $3,997,009 | $35,020,709 |
Clemson University Foundation Clemson, SC | $1,240,950,463 | $112,486,660 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |