2025-05-15T16:07:14-05:00 2024-06-30 580692043 Mauldin & Jenkins LLC 200 Galleria Pkwy SE Ste 1700 Atlanta GA 303395946 990 2023-07-01 237032763 Albany State University Foundation Inc ALBA 2295003289 504 College Drive Albany GA 31705 Valerie Melton Executive Director 2295003289 2025-05-15 1 1 Melissa Seward P02145103 7709558600 2025-05-14 2023 2025-03-06 01:10:19Z Greg Hylick 504 College Drive Albany GA 31705 2051957 0 X asurams.edu/university-operations/asu-foundation/ X 1969 GA To provide financial aid to students and financial support of Albany State University, its faculty, staff, research, and advancement of higher educaiton. 14 12 0 12 0 0 1454713 1607521 0 0 156682 388295 -11243 1443 1600152 1997259 1104409 690000 0 0 0 0 0 0 20465 200483 217416 1304892 907416 295260 1089843 8733142 10178685 14700 15033 8718442 10163652 X The Albany State University Foundation, Inc. enhances the academic vision and priorities of ASU through its organized fundraising activities and funds management. The Foundation, a non-profit corporation, is governed by an elected Board of Trustees, whose members serve as advocates for the University and its colleges, schools and programs.Private support funds scholarships, eminent scholar chairs, professorships and the innovative programs that distinguish ASU as an exceptional institution. We know it is our generous donors who will sustain our tradition of academic excellence. 0 0 763699 690000 Received and managed funds provided to Albany State University to be used for financial assistance to qualified university students. 763699 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 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 7 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 12 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 1 1 1 1 1 0 GA X The Organization 2295003279 Albany State University 504 College Albany GA 31705 Marion Fedrick President of ASU 1.00 39.00 X 0 324124 0 Valerie Melton Executive Director 20.00 X X 0 168000 34835 Gregory Hylick Chair 0.00 X X 0 0 0 Rachelle Scott Vice Chair 0.00 X X 0 0 0 TaKeshia Thomas Treasurer 0.00 X X 0 0 0 Bruce Melton Secretary 0.00 X X 0 0 0 Graham Edwards Board Member 0.00 X 0 0 0 Daniel Simmons Board Member 0.00 X 0 0 0 Carolyn Jernigan-Glenn Board Member 0.00 X 0 0 0 Virginia Harris Board Member 0.00 X 0 0 0 Marvin Laster Board Member 0.00 X 0 0 0 Virgil Adams Board Member 0.00 X 0 0 0 Vinson Davis Board Member 0.00 X 0 0 0 Maria Boynton Board Member 0.00 X 0 0 0 Mark Johnson Board Member 0.00 X 0 0 0 Stan Brown Chief Financial Officer 40.00 X 0 64582 27457 0 556706 62292 0 0 1 0 0 258981 6000 1342540 40079 1607521 278015 278015 110280 0 110280 110280 110280 42166 258981 54698 -12532 -12532 Misc Revenue 900099 13975 13975 13975 1997259 0 0 389738 690000 690000 605 605 28500 28500 4130 4130 1792 1792 120419 59091 40863 20465 16209 12671 3538 1450 145 1305 2565 2565 32444 32444 893 893 3245 3245 Dues & Subscriptions 5164 5164 907416 763699 123252 20465 3823729 4800111 478312 369090 8950 8950 0 0 4144597 4722980 286504 286504 8733142 10178685 0 33 14700 15000 14700 15033 X 2589517 2815685 6128925 7347967 8718442 10163652 8733142 10178685 1089843 355367 0 X X 0 1 X 1 0 X X 1 Albany State University 580001996 6 1 690000 0 1 690000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X X 1 1 Part IV, Section E, Line 1c: The Albany State University Foundation, Inc. supports Albany State University ("ASU"). ASU is a University in the State of Georgia University System and hence is a unit of government. Part IV, Section E, Line 2B: Albany State University Foundation's Mission is to be an advocate for Albany State University (the "University") and to receive, invest, account for, and allocate private gifts and contributions in support of the University. The Foundation provides student housing, parking, and leases administrative, dining, and classroom space to the University. All these activities are essential to the operations of Albany State University. If the Foundation did not conduct these activities, another organization, or the University itself, would have to manage such activities and properties. Part IV, Section E, Line 2A: All activities engaged in by the Foundation are for the benefit of the supported organization, Albany State University. The scholarships help students to attend and the academic programs enrich the other programs offered by the faculty; leasing operations provide the University's students with housing, parking, office, and dining spaces. Part IV, Section D, Line 3: The Foundation's supported organization (Albany State University) has a significant voice in the investment policies and the use of income and assets of the Foundation throughout the year. This is evidenced by the following facts: Albany State University employees are involved with the Foundation's daily operations; the deference the Foundation's board has to Albany State University's President and their cabinet regarding all matters; the presence of the President's and/or their emissaries at committee and board meetings where decisions are made; the fact that the President is a ex-officio trustee of the board and Vice President of Institutional Advancement is actively involved in both the Foundation and the University. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4519285 93938 582976 20314 5175885 4043047 147496 364181 35439 4519285 4114598 425122 -476726 19947 4043047 3275118 27244 819236 7000 4114598 3208596 67362 13699 14539 3275118 0.18398 0.54181 0.27420 0 0 8950 8950 0 0 Related party payable 15000 15000 X 2616415 355367 213221 568588 2047827 4130 -54698 -50568 1997259 1171205 213221 54698 267919 903286 4130 4130 907416 Part V, Line 4: Provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the historic dollar value of the endowment assets. 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 a publicly supported organization and not as 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. Campus Facilities I, LLC is treated as a single member LLC for federal and state income tax purposes. Since the Foundation is the sole member of this LLC, all income, losses, and credits are reported on the Foundation's income tax returns. The 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 Foundation's tax-exempt status would not have a material effect on the Foundation's financial statements. The Foundation files the Form 990 in the U.S. federal jurisdiction and the state of Georgia. Part XI, Line 4b - Other Adjustments: Fundraising expenses -54,698. Part XII, Line 2d - Other Adjustments: Fundraising expenses 54,698. Gala 301147 258981 42166 1003 30315 18650 4730 301147 258981 42166 1003 30315 18650 4730 54698 -12532 1 Albany State University 504 College Drive Albany GA 31705 580001996 501(C)(3) 690000 0 For University Scholarship Grants, Genral and Athletic Support 1 0 Part I, Line 2: The only grant funds distributed went to our component unit Albany State University. All of the funds sent to ASU were substantiated by invoices from the Business Office. The University spends these funds on scholarships and supplies for the students, faculty, and staff. 0 0 0 0 0 0 0 0 0 Marion Fedrick President of ASU 0 324124 0 0 0 0 0 0 0 0 0 324124 0 0 Valerie Melton Executive Director 0 168000 0 0 0 0 0 0 0 34835 0 202835 0 0 X Event meals 1 30000 FMV X Event supplies 16 10079 FMV 0 0 1 0 Part I, Column (b): Number of contributions. Form 990, Part VI, Section A, line 8b The organization documents the meeting held by each committee only to make recommendations to the board or executive committee for action. Form 990, Part VI, Section B, line 11b Board Members will review return before filing. Form 990, Part VI, Section B, line 12c Annually, the Foundation Board will complete and sign the Conflict of Interest Declaration and disclose any actual or potential conflict of interest. Form 990, Part VI, Section B, line 15 The officers of the Foundation are state employees, and their compensation is based on what comparable positions pay at similar sector universities within the University System of Georgia. Form 990, Part VI, Section C, line 19 Documents are avaliable upon request to the Office of Institutional Advancement. Form 990, Part XII, line 2c The organization has not made any changes to the oversight process. Campus Facilities I LLC 504 College Drive Albany GA 31705 GA 0 0 ALBANY STATE UNIVERSITY FOUNDATION INC Albany State University 504 College Drive Albany GA 31705 580001996 Education GA Govt Georgia Board of Regents 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0