2023-11-13T17:45:39-06:00 2023-06-30 580692043 Mauldin & Jenkins LLC 200 Galleria Pkwy SE Ste 1700 Atlanta GA 303395946 990 2022-07-01 263332258 University of North Georgia Real Estate Foundation Inc UNIV 7068672401 82 College Circle Dahlonega GA 30597 James A Faulkner Treasurer / Secretary 7068672401 2023-11-13 1 James Faulkner XXX-XX-XXXX 1 Mary Jo Alexander P00002534 7709558600 2023-11-13 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z James A Faulkner 82 College Circle Dahlonega GA 30597 6588169 0 X N/A X 2008 GA To acquire, lease, receive, accept, develop, manage, encumber, assign, sell, transfer and convey real property to be administered for charitable purposes by the University of North Georgia. 10 7 4 7 0 0 0 0 6106698 5987604 213812 21593 0 0 6320510 6009197 0 593579 0 0 0 0 0 0 0 4977002 4639889 4977002 5233468 1343508 775729 135823114 131610420 119248239 114204573 16574875 17405847 To acquire, lease, receive, accept, develop, manage, encumber, assign, sell, transfer and convey real property to be administered for charitable purposes by the University of North Georgia. 0 0 5203530 593579 5987604 Construction of parking deck, cadet housing, civilian housing and dining hall, bookstore, infirmary, administrative offices, academic classrooms, and renovation of cadet housing. 5203530 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 X 6 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 7 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 0 0 0 GA X Sherry Waddell 7068674593 82 College Circle Price Memorial Dahlonega GA 30597 X Bonita Jacobs Trustee 0.50 40.00 X 0 289376 107643 Frank McConnell Trustee 0.50 40.00 X 0 280128 90532 Jeff Tarnowski Trustee 0.50 40.00 X 0 179827 74486 Gerald Sullivan Administrative Officer 10.00 30.00 X 0 139747 64422 Bob Mathews Chairman 0.50 X X 0 0 0 Gary Osley Vice Chairman 0.50 X X 0 0 0 James Faulkner Treasurer/Secretary 0.50 4.00 X X 0 0 0 Mary Helen McGruder Trustee 0.50 4.00 X 0 0 0 Beth Baldwin Trustee 0.50 4.00 X 0 0 0 Dan O'Leary Trustee 0.50 X 0 0 0 Nick Massengill Trustee 0.50 4.00 X 0 0 0 0 889078 337083 0 0 1 0 Full Circle Restoration & Construction 4325 River Green Parkway Duluth GA 30096 Fire / flood restoration 497646 Conditioned Air Systems Inc 2410 Hilton Way SE Gainesville GA 30501 Boiler rental and replacement 156652 2 Income from Direct Fin 900099 4472488 4472488 Rental Income 532000 1515116 1515116 5987604 565 565 600000 578972 21028 21028 21028 6009197 5987604 0 21593 593579 593579 15225 13703 1522 25912 25912 88001 88001 350 340 10 439390 439390 133 120 13 3482784 3482784 66486 66486 399085 396607 2478 Amortization of Bond Is 86896 86896 Regents Fees 35398 35398 Licenses & Permits 229 226 3 5233468 5203530 29938 0 3324952 4558898 12468790 12877928 67535 214058 272921 3202394 428667 2840213 2773727 116975101 111059411 135823114 131610420 45194 176876 458896 546021 115934500 110901697 2809649 2579979 119248239 114204573 X 16574875 17405847 16574875 17405847 135823114 131610420 775729 55243 0 X X 0 1 X 1 0 X X X 1 University of North Georgia 586002060 5 1 593579 0 1 593579 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X 1 0 Sch A Part IV The purpose of the University of North Georgia Real Estate Foundation is to serve the needs and interest of the University of North Georgia (the "University") and to benefit and promote the well-being of its administration, faculty, staff, student body, and the people and communities served by the University; and to acquire, lease, receive, accept, develop, manage, encumber, assign, sell, transfer, and convey real property to be administered exclusively for charitable purposes for the benefit of the University. Part IV, Section A, Line 2: The University of North Georgia Real Estate Foundation is a supporting organization for the University of North Georgia ("UNG"). UNG is a public university, public-funded by the state of Georgia and under the supervision of the University System of Georgia. As such they are a division of government. 1621230 1621230 613614 280267 333347 36365 10014 26351 931185 138386 792799 2773727 Minimum Lease Payments Receivable 109169739 Tumbling Creek Land - For Sale 1576271 Right-of-use Asset 313401 111059411 Accrued Interest 2261679 Operating Lease Liability 318300 2579979 X Part X, Line 2: The Real Estate Foundation qualifies as a tax-exempt organization as described in Internal Revenue Code Section 501(c)(3) and has been classified by the Internal Revenue Service as a publicly supported organization and not as a private foundation. However, income from certain activities not directly related to the Real Estate Foundation's tax-exempt purpose is subject to taxation as unrelated business income. The Real Estate Foundation follows the statutory requirements for its income tax accounting and generally avoids risks associated with potentially problematic tax positions that may be challenged upon examination. Management believes any liability resulting from taxing authorities imposing additional income taxes from activities deemed to be unrelated to the Real Estate Foundation's tax-exempt status would not have a material effect on the Real Estate Foundation's consolidated financial statements. 1 University of North Georgia 82 College Circle Dahlonega GA 30597 586002060 593579 0 General Support 1 0 0 0 0 0 0 0 0 0 0 Bonita Jacobs Trustee 0 248176 0 0 0 41200 0 40600 0 67043 0 397019 0 0 Frank McConnell Trustee 0 280128 0 0 0 0 0 0 0 90532 0 370660 0 0 Jeff Tarnowski Trustee 0 179827 0 0 0 0 0 0 0 74486 0 254313 0 0 Gerald Sullivan Administrative Officer 0 139747 0 0 0 0 0 0 0 64422 0 204169 0 0 A Branch Bank and Trust 2013-12-31 5000000 Refund of 2003 bond to take advantage of favorable market conditions: Oconee 0 0 0 B Downtown Development Authority City Of Dahlonega 208485320 23378RDC7 2016-11-17 6870000 Construct Parking Deck 0 0 0 C Downtown Development Authority City Of Dahlonega 208485320 23378RDZ6 2016-11-17 24075000 Refund Series 2007A & fund cost of issuance fees 0 0 0 D Downtown Development Authority City Of Dahlonega 823727709 23378RFR2 2017-12-21 88020000 Refund Series 2009 & Series 2010 to receive savings benefit 0 0 0 A 5000000 5000000 389803 130998 2003 1 1 1 1 B 825000 7159916 192143 179544 105014 7125349 2017 0 0 1 1 C 4930000 26225751 879281 411146 2008 1 1 1 1 D 7730000 98692095 4787613 778918 2012 1 1 1 1 A 1 0 0 0 1 0 1 B 1 0 0 0 1 0 1 C 1 0 0 0 1 0 1 D 1 0 1 0 0 0.02500 0.02500 1 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 Form 990 Part I Line 5 University of North Georgia Real Estate Foundation has 4 individuals performing employment services for the organization. These individuals are compensated by and reported on the payroll of University of North Georgia, EIN #58-6002060. Form 990, Part VI, Section B, line 11b After the 990 has been reviewed by the Board and approved by the Board (or its designated committee), it is filed with the IRS. Form 990, Part VI, Section B, line 12c Each Board Trustee is required to complete and sign a conflict of interest questionnaire annually. Form 990, Part VI, Section C, line 19 Documents are available upon request. Form 990 Part VII Trustees Bonita Jacobs, Jeff Tarnowski and Frank McConnell are full-time employees of the supported organization, University of North Georgia. Form 990 Part XII line 2c There have been no changes from the prior year in the auditor selection process, nor financial statement oversight process. Form 990 Part V line 2a The University of North Georgia Real Estate Foundation, Inc. utilizes the services of University employees on a part-time basis. These individuals are reported on the University's payroll. Their compensation is determined by University officials. The University is not reimbursed for their part-time services. Four University employees perform services for the University of North Georgia Real Estate Foundation, Inc. North Georgia PHD LLC 82 College Circle Chestatee Bldg Su Dahlonega GA 30597 270646547 Financing and Construction of Facilities GA 0 0 N/A North Georgia MBA LLC 82 College Circle Chestatee Bldg Su Dahlonega GA 30597 273565503 Financing and Construction of Facilities GA 0 0 N/A Pilgrim Mill Center LLC 82 College Circle Chestatee Bldg Su Dahlonega GA 30597 453755648 Financing and Construction of Facilities GA 19871 770937 N/A North Georgia Parking & Recreation Center 82 College Circle Chestatee Bldg Su Dahlonega GA 30597 208485320 Financing and Construction of Facilities GA 1441757 28108971 N/A GSC Foundation Real Estate Holding Company 82 College Circle Chestatee Bldg Su Dahlonega GA 30597 263748769 Financing and Construction of Facilities GA 64282 0 N/A North Georgia MAC LLC 82 College Circle Chestatee Bldg Su dahlonega GA 30597 823727709 Financing and Construction of Facilities GA 4011558 95170621 N/A University of North Georgia 82 College Circle Dahlonega GA 30597 586002060 Higher Education GA Public University State of Georgia 0 University of North Georgia Foundation - Dahlonega Inc PO Box 1599 Dahlonega GA 30533 237066297 Support University of North Georgia GA 501(c)(3) N/A 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1