2024-04-04T18:47:01-05:00 2023-06-30 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2022-07-01 580706796 MEDICAL COLLEGE OF GEORGIA FOUNDATION INCORPORATED MEDI 7068235500 720 ST SEBASTIAN WAY 150 AUGUSTA GA 30901 IAN S MERCIER PRESIDENT/CEO 7068235506 2024-03-22 1 IAN MERCIER 999009999 1 MARY JO ALEXANDER P00002534 7709558600 2024-03-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHARLES G GREEN JR MD 720 ST SEBASTIAN WAY 150 AUGUSTA GA 30901 23655859 0 X WWW.MCGFOUNDATION.ORG X 1954 GA 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. 20 20 18 25 218223 0 11259935 14330039 0 0 4088011 2748851 -924419 -863990 14423527 16214900 9446357 9487963 0 0 1690527 1880350 0 0 828002 991583 1246296 12128467 12614609 2295060 3600291 324381172 348977270 17662348 17384443 306718824 331592827 THE MISSON OF THE MEDICAL COLLEGE OF GEORGIA FOUNDATION IS TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE OF GEORGIA, THE NATION, AND THE WORLD BY SUPPORTING THE ADVANCEMENT OF EDUCATION, RESEARCH, AND PATIENT CARE AT AUGUSTA UNIVERSITY. 0 0 9577226 9487963 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. 9577226 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 53 0 1 18 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X X ANGELA REES 7068235500 720 ST SEBASTIAN WAY SUITE 150 AUGUSTA GA 309011019 IAN S MERCIER PRESIDENT/CEO 40.00 X 272665 0 61634 MARTYN JONES PACELINE PRESIDENT 40.00 X 198000 0 31849 ANGELA REES CFO 40.00 X 156875 0 22648 JAMES HOLMES VP, PACELINE 40.00 X 119900 0 28857 JOHN ELLINGER DIRECTOR OF IT 40.00 X 105910 0 22640 TIM KEARNEY COO 40.00 X 102025 0 17163 CHARLES G GREEN JR MD CHAIRMAN 0.30 X X 0 0 0 LOYD B SCHNUCK JR MD SECRETARY/TREASURER 0.30 X X 0 0 0 J BENJAMIN DEAL DMD PAST CHAIRMAN 0.30 X X 0 0 0 BROOKS KEEL PHD EX OFFICIO 0.30 X 0 0 0 BUFFI G BOYD MD DIRECTOR 0.30 X 0 0 0 RICHARD M FRANZA PHD DIRECTOR 0.30 X 0 0 0 SAM W RICHWINE JR MD DIRECTOR 0.30 X 0 0 0 JUDITH V HODNETT RN MSN DIRECTOR 0.30 X 0 0 0 RON SPEARMAN MD DIRECTOR 0.30 X 0 0 0 CAROLE M HANES DMD DIRECTOR 0.30 X 0 0 0 DON GRANTHAM DIRECTOR 0.30 X 0 0 0 TAT THOMPSON DIRECTOR 0.30 X 0 0 0 JOSHUA A LANE MD DIRECTOR 0.30 X 0 0 0 ELLEN GOODRICH BSN MN DIRECTOR 0.30 X 0 0 0 MURRAY A FREEDMAN MD DIRECTOR 0.30 X 0 0 0 JAMES DAVIS MD FACRA DIRECTOR 0.30 X 0 0 0 TERRI G LOCKHART MD FACP DIRECTOR 0.30 X 0 0 0 VENDIE HHOOKS MD DIRECTOR 0.30 X 0 0 0 PAUL G TURK MD DIRECTOR 0.30 X 0 0 0 A LYNNE BRANNEN II MD FCCP DIRECTOR 0.30 X 0 0 0 955375 0 184791 6 0 1 0 0 61646 9157536 5110857 973158 14330039 1153747 218223 935524 37170 532294 -495124 -495124 -495124 8103483 6508379 1595104 1595104 1595104 26420 61646 400286 -373866 -373866 REFUNDS 900099 5000 5000 5000 16214900 0 218223 1666638 9487963 9487963 834786 529122 305664 758364 544926 213438 112713 59596 53117 76972 62920 14052 97515 64501 33014 1938 1800 138 55586 55586 112628 111830 798 62227 28245 33982 84480 43885 40595 247644 196727 50917 102853 67771 35082 56785 48729 8056 163206 129123 34083 171155 171155 54154 49088 5066 LIFE INCOME TO BENEFICI 55688 55688 MEMBERSHIP DUES AND SUB 44377 44377 DONOR GIFT ANNUITY AGRE 33575 33575 12614609 9577226 2209381 828002 X 6277550 6379430 120650 116404 1581213 1459234 5673636 5199924 16289614 753928 15619705 15535686 2853634 2923968 291274350 316487522 775074 666117 24930 24930 180430 184055 324381172 348977270 609770 724625 16253617 15753617 798961 906201 17662348 17384443 X 45458723 51569237 261260101 280023590 306718824 331592827 324381172 348977270 3600291 21273712 0 X X 0 1 X 1 0 X 4047696 3718596 11395370 11259935 14330039 44751636 4047696 3718596 11395370 11259935 14330039 44751636 4361139 40390497 955418 2046115 670330 712932 1190917 5575712 284947 277827 3992 5000 571766 50899114 0.79350 0.64820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REFUNDS SETTLEMENT INCOME - 2018 AMOUNT: $ 284,947. 2019 AMOUNT: $ 277,827. 2021 AMOUNT: $ 3,992. 2022 AMOUNT: $ 5,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 277725222 15367194 23041110 17035809 299097717 313526441 6968525 -29611365 13158379 277725222 238282478 9365042 76526407 10647486 313526441 242888400 3104301 4008796 11719019 238282478 238566789 3283268 11806118 10767775 242888400 0.13000 0.55000 0.32000 0 0 13537736 13537736 2475421 484689 1990732 276457 269239 7218 15535686 297331980 F REAL ASSETS 15839464 F LAND HELD FOR SALE 555000 C CASH HELD IN BROKERAGE ACCOUNTS 2747538 F BONDS 13540 F 316487522 GIFT ANNUITIES PAYABLE 867064 DEFERRED COMPENSATION LIABILITY 39137 906201 X PART V, LINE 4: THE FOUNDATION'S INVESTMENT COMMITTEE OF THE BOARD OF DIRECTORS (THE "COMMITTEE") DETERMINES THE METHOD TO BE USED TO APPROPRIATE ENDOWMENT FUNDS FOR EXPENDITURE. THE FOUNDATION HAS A SPENDING POLICY WHEREBY 4% OF A ROLLING AVERAGE OF ENDOWMENT NET ASSETS USING THE PRIOR THREE CALENDAR YEARS ENDED DECEMBER 31, 2021, 2020, AND 2019 FOR SCHOLARSHIPS AND 3.5% FOR ALL OTHER FUNDS MAY BE DISTRIBUTED FOR PURPOSES OF SUPPORTING UNRESTRICTED AND TEMPORARILY RESTRICTED ACTIVITIES. IN ADDITION, THE FOUNDATION CHARGES A 1.25% ADMINISTRATION FEE BASED ON THE PRIOR YEAR ENDOWMENT POOL BALANCE. THE FOUNDATION'S INVESTMENT COMMITTEE OF THE BOARD OF DIRECTORS REVIEW SPENDING POLICIES ANNUALLY AND APPROVE DISTRIBUTIONS THEY DEEM TO BE PRUDENT. PART X, LINE 2: THE 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 OTHER THAN A PRIVATE FOUNDATION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN THE OPINION OF MANAGEMENT, THE FOUNDATION HAD NO SIGNIFICANT UNRELATED BUSINESS TAXABLE INCOME DURING 2023 OR 2022. ACCORDINGLY, NO PROVISION OR BENEFIT FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. PACELINE 88066 61646 26420 65033 64234 35354 235665 88066 61646 26420 65033 64234 35354 235665 400286 -373866 1 AUGUSTA UNIVERSITY 1120 15TH STREET AUGUSTA GA 30912 9487963 0 INSTITUTIONAL SUPPORT 1 0 PART I, LINE 2: ASSISTANCE IS MADE ON A REIMBURSEMENT BASIS IN AGREEMENT WITH DONOR INTENT. X 1 0 X X X 0 0 0 0 0 0 0 0 0 IAN S MERCIER PRESIDENT/CEO 272665 0 0 0 0 0 44767 0 16867 0 334299 0 0 0 MARTYN JONES PACELINE PRESIDENT 198000 0 0 0 0 0 19800 0 12049 0 229849 0 0 0 ANGELA REES CFO 156875 0 0 0 0 0 21937 0 711 0 179523 0 0 0 PART I, LINE 1A THE ORGANIZATION PAYS FOR THE PRESIDENT/CEO'S COUNTRY CLUB INITIATION FEES. X 12 699783 FMV 0 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: BROKERAGE FIRM SELLS DONATED STOCK. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE FULL BOARD FOR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED BY REMINDING BOARD MEMBERS OF THE NEED TO DISCLOSE POTENTIAL CONFLICTS WHEN A CONFLICT COULD BE PRESENT. ALSO, AS A GENERAL OPERATING PRINCIPLE, THE FOUNDATION DOES NOT CONDUCT BUSINESS WITH BOARD MEMBERS OR MAKE LOANS TO THEM. IN THE RARE CASES THE FOUNDATION HAS DONE BUSINESS WITH BOARD MEMBERS' FIRMS, THE REASONS FOR USING THEIR FIRMS WERE CLEARLY DISCLOSED AND WERE LARGELY DUE TO A SPECIAL EXPERTISE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE FOUNDATION'S CEO, CFO, COO, AND ALL OTHER EMPLOYEES IS DETERMINED BY THE FOUNDATION'S CHAIRMAN, TREASURER, AND SECRETARY. THE FOUNDATION'S CEO MAKES RECOMMENDATIONS CONCERNING THE OTHER EMPLOYEES AND PROVIDES INFORMATION CONCERNING CEO COMPENSATION. COMPARABILITY DATA IS REVIEWED FOR THE CEO AND CFO AND MINUTES RECORDED OF THE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIALS ARE AVAILABLE UPON REQUEST. WEBSITE HAS AUDITED FINANCIAL STATEMENT, 990, 1023 AND IRS DETERMINATION LETTER AND FURTHER INFORMATION WILL BE GIVEN UPON WRITTEN REQUEST. FORM 990, PART X, LINE 7 IN OCTOBER 2021, THE MEDICAL COLLEGE OF GEORGIA FOUNDATION, INC. ENTERED INTO A MEMBER AGREEMENT WITH TWO PARTIES, ONE OF WHICH IS THE HUB AUGUSTA COLLABORATIVE, INC. (THE "COLLABORATIVE"). THE FOUNDATION IS A ONE-THIRD MEMBER OF THE COLLABORATIVE AND HAS ENTERED INTO A COMMERCIAL NOTE AGREEMENT FOR $5,000,000 (THE "BRIDGE LOAN") WITH A FINANCIAL INSTITUTION TO PROVIDE FINANCING FOR THE HUB PROJECT. THE MEMBER AGREEMENT STIPULATES THE FOUNDATION WILL BE REIMBURSED BY THE COLLABORATIVE FOR ALL PAYMENTS OF PRINCIPAL, INTEREST, AND OTHER CHARGES PAID BY THE FOUNDATION RELATED TO THE BRIDGE LOAN. AS OF JUNE 30, 2023, THE COLLABORATIVE OWES THE FOUNDATION $5,199,924. FORM 990, PART XII, LINE 2C THE FINANCIAL STATEMENT OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR. THE AUDIT WAS CONDUCTED BY THE SAME AUDITORS AS IN THE PRIOR YEAR. CENTRAL SQUARE LLC 720 ST SEBASTIAN WAY SUITE 150 AUGUSTA GA 309011019 580706796 REAL ESTATE ACTIVITIES GA 37170 676637 MEDICAL COLLEGE OF GEORGIA FOUNDATION INC RESURGENS PROPERTIES LLC 720 ST SEBASTIAN WAY SUITE 150 AUGUSTA GA 309011019 580706796 REAL ESTATE ACTIVITIES GA 0 13561464 MEDICAL COLLEGE OF GEORGIA FOUNDATION INC PACELINE RIDE LLC 720 ST SEBASTIAN WAY SUITE 150 AUGUSTA GA 309011019 831600096 FUNDRAISE ACTIVITIES GA 0 71364 MEDICAL COLLEGE OF GEORGIA FOUNDATION INC HUB AUGUSTA COLLABORATIVE INC 631 CHAFFEE AVENUE AUGUSTA GA 30904 871694356 SUPPORTING ORGANIZATION GA 509C3 LINE 12A, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0