2024-05-10T15:22:19-05:00 2023-06-30 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2022-07-01 811388812 LAGRANGE COLLEGE PROPERTY MANAGEMENT INC LAGR 7068808232 601 BROAD STREET LAGRANGE GA 30240 JERRY FORSTER VP FINANCE AND OPERATIONS 7068808232 2024-05-09 1 JERRY FORSTER 999009999 1 MARY JO ALEXANDER P00002534 7709558600 2024-05-09 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X DR SUSANNA L BAXTER 601 BROAD STREET LAGRANGE GA 30240 14874019 0 X WWW.LAGRANGE.EDU X 2016 GA LAGRANGE COLLEGE PROPERTY MANAGEMENT IS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE INTERESTS OF LAGRANGE COLLEGE. THE ORGANIZATION WILL ACQUIRE AND DEVELOP REAL ESTATE PROPERTY FOR EXCLUSIVE USE BY LAGRANGE COLLEGE THROUGH A LEASE RELATIONSHIP. X 4 4 0 4 0 0 0 14773019 101000 101000 0 0 0 0 101000 14874019 0 11275501 0 0 0 0 0 0 0 661864 811099 661864 12086600 -560864 2787419 13496293 0 16283712 0 -2787419 0 X LAGRANGE COLLEGE PROPERTY MANAGEMENT IS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE INTERESTS OF LAGRANGE COLLEGE. THE ORGANIZATION WILL ACQUIRE AND DEVELOP REAL ESTATE PROPERTY FOR EXCLUSIVE USE BY LAGRANGE COLLEGE THROUGH A LEASE RELATIONSHIP. 0 1 12086600 11275501 101000 IN 2017, LAGRANGE COLLEGE PROPERTY MANAGEMENT, INC. CONSTRUCTED A 43,000 SQUARE FOOT SCIENCE FACILITY ON THE CORNER OF VERNON STREET AND PARK AVENUE, AT 200 PARK AVENUE, ACROSS THE STREET FROM THE CURRENT CALLAWAY SCIENCE BUILDING. THE FACILITY HOUSES A STATE OF THE ART LABORATORY SPACE FOR INSTRUCTION IN BIOLOGY, ECOLOGY, ANATOMY, PHYSIOLOGY, CHEMISTRY, AND IMMUNOLOGY. THE FACILITY WAS DONATED TO LAGRANGE COLLEGE DURING 2023. 12086600 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 GA X JERRY FORSTER 7068808232 601 BROAD STREET LAGRANGE GA 30240 EDWARD D SMITH DIRECTOR 1.00 1.00 X 0 0 0 MITCHELL KEY DIRECTOR 1.00 X 0 0 0 NANCY N DURAND DIRECTOR 1.00 X 0 0 0 ROBERT L CARMICHAEL JR DIRECTOR 1.00 1.00 X 0 0 0 DEBORAH HALL VP - FINANCE AND OPERATION 1.00 40.00 X 0 143413 2868 SUSANNA BAXTER PRESIDENT 1.00 40.00 X 0 275000 53500 JERRY FORSTER VP - FINANCE AND OPERATION 1.00 40.00 X 0 62036 0 0 480449 56368 0 0 1 0 0 14773019 14773019 AUXILLARY: RENTS 900099 101000 101000 101000 14874019 101000 0 0 11275501 11275501 227416 227416 212200 212200 371483 371483 12086600 12086600 0 0 142032 0 0 0 43871 0 0 0 0 0 0 0 0 13237981 0 0 0 0 0 72409 0 13496293 0 14773016 0 1510696 0 16283712 0 X -2787419 0 -2787419 0 13496293 0 2787419 0 X X 0 1 X 1 0 X X 1 LAGRANGE COLLEGE 580566199 2 1 0 11275501 1 0 11275501 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 LAGRANGE COLLEGE 601 BROAD STREET LAGRANGE GA 30240 580566199 501(C)(3) 0 11275501 BOOK BUILDING THE COLLEGE'S NEW SCIENCE BUILDING IS LOCATED WITHIN A CENSUS TRACT THAT IS ELIGIBLE FOR THE NMTC PROGRAM. IN ORDER TO BENEFIT UNDER THE NMTC PROGRAM, IN APRIL 2016, THE COLLEGE ENTERED INTO A SERIES OF AGREEMENTS AND TRANSACTIONS WITH A CDE AND AN INVESTMENT FUND AFFILIATED WITH A COMMERCIAL BANK. THE COLLEGE FORMED LAGRANGE COLLEGE PROPERTY MANAGEMENT, INC. ("LCPMI") TO FACILITATE THE TRANSACTION. DURING 2023, THE BOARD OF DIRECTORS OF LCPMI ELECTED TO DISSOLVE LCPMI THROUGH AN APPROVED PLAN OF DISSOLUTION WHICH INCLUDES CONTRIBUTING THE PROPERTY ACQUIRED TO LAGRANGE COLLEGE AS PART OF THE NMTC TRANSACTION VALUED AT $11,275,501. 1 0 0 0 0 0 0 0 0 0 0 SUSANNA BAXTER PRESIDENT 0 275000 0 0 0 0 0 5500 0 48000 0 328500 0 0 BUILDING 2023-06-30 11275501 0 0 0 0 0 0 0 0 0 FORM 990, PART III, LINE 3 DURING THE YEAR ENDED JUNE 30, 2023, THE COLLEGE'S NMTC FINANCING STRUCTURE WAS UNWOUND IN ACCORDANCE WITH THE ORIGINAL SEVEN YEAR AGREEMENT ENTERED INTO IN APRIL 2016. AS A RESULT, THE APPLICABLE NOTES PAYABLE AND NOTES RECEIVABLE ASSOCIATED WITH THE 2016 NMTC TRANSACTION WERE FORGIVEN UPON MATURITY. THIS RESULTED IN $14,773,019 OF FORGIVENESS OF NOTES PAYABLE RECORDED ON LCPMI. FORM 990, PART VI, SECTION B, LINE 11B INDEPENDENT ACCOUNTANTS PREPARED FORM 990. MANAGEMENT REVIEWED THE RETURN PRIOR TO FILING. THE CHAIRMAN PRESENTED AND DISCUSSED THE TAX RETURN WITH ALL BOARD MEMBERS AT THE SPRING BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE CONSOLIDATED AUDIT IS MANAGED AND OVERSEEN BY THE BOARD OF DIRECTORS OF LAGRANGE COLLEGE, A RELATED ENTITY. LAGRANGE COLLEGE 601 BROAD STREET LAGRANGE GA 30240 580566199 HIGHER EDUCATION GA 501(C)(3) LINE 2 N/A 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0