2026-04-30T09:27:48-05:00 2025-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1075 PEACHTREE STREET NE SUITE 1600 ATLANTA GA 30309 990 2024-07-01 582374837 GEORGIA TECH APPLIED RESEARCH CORPORATION GEOR 4048944819 926 DALNEY STREET NW ATLANTA GA 303320415 NEIL VITRO ASST TREASURER/ASST SECRETARY 4048944819 2026-04-20 1 1 MELANIE MCPEAK P01346034 4042090954 2024 2025-03-06 01:10:19Z ROBERT FOY 926 DALNEY STREET NW ATLANTA GA 303320415 988569303 0 X WWW.GTARC.GATECH.EDU X 1998 GA THE MISSION OF THE GEORGIA TECH APPLIED RESEARCH CORPORATION (GTARC) IS TO PROVIDE EFFICIENT AND EFFECTIVE CONTRACTING, GRANT, AND RESEARCH ADMINISTRATION SERVICES FOR THE GEORGIA TECH RESEARCH INSTITUTE (GTRI), A NON-PROFIT RESEARCH ARM OF THE GEORGIA INSTITUTE OF TECHNOLOGY. GTARC PROVIDES BUSINESS MANAGEMENT SERVICES FOR GTRI AS IT CONDUCTS FOCUSED PROGRAMS OF INNOVATIVE RESEARCH, TECHNICAL ASSISTANCE, AND ECONOMIC DEVELOPMENT THAT ADVANCE THE GLOBAL COMPETITIVENESS OF GEORGIA, THE SOUTHEAST REGION, AND THE NATION. GTARC SERVES AS THE SOLE CONTRACTING ENTITY FOR GTRI. 13 10 0 10 0 0 0 0 891007419 973407375 4586360 4394105 7663379 7959192 903257158 985760672 11747479 10060430 0 0 0 0 0 0 0 895353370 977891232 907100849 987951662 -3843691 -2190990 400581870 443441143 324315555 369365818 76266315 74075325 THE GEORGIA TECH APPLIED RESEARCH CORPORATION (GTARC) IS ORGANIZED AND OPERATED TO SUPPORT THE RESEARCH ACTIVITIES OF THE GEORGIA INSTITUTE OF TECHNOLOGY IN THE AREAS OF INNOVATIVE RESEARCH, TECHNICAL ASSISTANCE AND ECONOMIC DEVELOPMENT. 0 0 981109252 10060430 973962802 THE GEORGIA INSTITUTE OF TECHNOLOGY RESEARCH ACTIVITY IS SUPPORTED BY THE GEORGIA TECH APPLIED RESEARCH CORPORATION WHICH CONSISTS OF RESEARCH PROGRAMS FOR GOVERNMENT AGENCIES. PAYMENTS AND REIMBURSEMENT OF EXPENSES AND GRANTS TO AND FOR THE BENEFIT OF GEORGIA INSTITUTE OF TECHNOLOGY HAVE BEEN MADE. THE GEORGIA TECH APPLIED RESEARCH CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY WHICH IS A UNIT OF THE UNIVERSITY SYSTEM IN THE STATE OF GEORGIA. 981109252 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 42 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 10 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X NEIL VITRO 4043854446 926 DALNEY STREET NW ATLANTA GA 303320415 CHAOUKI ABDALLAH PRESIDENT (THRU 09/24) 1.00 40.00 X X 0 401368 70368 TIM LIEUWEN PRESIDENT (FROM 09/24) 1.00 40.00 X X 0 363595 66752 ROBIN BIENFAIT TRUSTEE 0.50 0.50 X 0 0 0 SHANTAY BOLTON TRUSTEE 1.00 40.00 X 0 500785 63574 SCOTT FOUSE TRUSTEE 0.50 0.50 X 0 0 0 SCOTT FRANK TRUSTEE 0.50 0.50 X 0 0 0 R STEVEN JUSTICE TRUSTEE (FROM 09/24) 0.50 0.50 X 0 0 0 PATRICK KELLY TRUSTEE 0.50 0.50 X 0 0 0 TROY LITTLES TRUSTEE 1.00 40.00 X 0 323710 32406 KENNETH MASSARONI TRUSTEE 0.50 0.50 X 0 0 0 LING-LING NIE TRUSTEE 0.50 0.50 X 0 0 0 LESLIE SIBERT TRUSTEE 0.50 0.50 X 0 0 0 REBECCA WEIRICK TRUSTEE 0.50 0.50 X 0 0 0 EARL WYATT TRUSTEE 0.50 0.50 X 0 0 0 ROBERT FOY GENERAL MANAGER 20.00 20.00 X 0 216899 68625 CYNTHIA HOPE VP AND ASST. SECRETARY (THRU 08/24) 40.00 1.00 X 0 196960 23375 JAMES HUDGENS SECRETARY 1.00 40.00 X 0 617923 67379 ALBERT CONCORD FACILITY SECURITY OFFICER 1.00 40.00 X 0 211891 45788 NEIL VITRO ASST SEC AND ASST. TREAS. 20.00 20.00 X 0 172697 55113 BRUCE HENRY ASST SEC AND ASST. TREAS. 1.00 40.00 X 0 138867 54088 ROBERT BUTERA ASST SEC. (FROM 11/24) 1.00 40.00 X 0 333683 68449 VANNESSA DANIELS ASST SEC. 1.00 40.00 X 0 177894 25321 JARRETT ELLIS ASST. SEC. 1.00 40.00 X 0 179979 35544 SOPHIA HERBERT-PETERSON ASST SEC. 1.00 40.00 X 0 214017 50487 J ANDREW HOWARD ASST SEC. 20.00 20.00 X 0 101267 21107 TANESHA STEWARD ASST SEC. (THRU 11/24) 1.00 40.00 X 0 131717 50218 SHANNON MCGHEE ASST SEC. (FROM 11/24) 1.00 40.00 X 0 46929 13195 MARK MILITELLO ASST TREASURER (FROM 11/24) 1.00 40.00 X 0 219634 56470 JAMES FORTNER ASST SEC AND ASST. TREAS. 1.00 40.00 X 0 304988 86039 ROMY SMITH ASST SEC 1.00 40.00 X 0 217543 64901 KIM TOATLEY TREASURER 1.00 40.00 X 0 270512 11037 ROBERTA BURKE ASST SEC 1.00 40.00 X 0 206798 21162 JOSEPH TESORIERO ASST TREASURER (FROM 11/24) 1.00 40.00 X 0 133801 27477 0 5683457 1078875 0 0 1 0 GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE ATLANTA GA 30332 RESEARCH 903905020 GATV INC GT COBB RESEARCH CAMPUS 221 UNCLE HEINIE WAY LYMAN HALL RM GA 30332 REAL ESTATE 20625467 GTF ATC LLC 1904 MONROE DRIVE ATLANTA GA 30324 REAL ESTATE 2433918 US TREASURY DEPT OF DEFENSE INDIANAPOLIS IN 46249 RESEARCH 2390984 CENTERGY ONE ASSOC LLC PO BOX 101189 ATLANTA GA 30392 REAL ESTATE 2167116 25 RESEARCH CONTRACTS 541700 973407375 973407375 973407375 4394105 4394105 10212396 2808631 7403765 7403765 7403765 INSURANCE SETTLEMENTS 900099 555305 555305 MISC REVENUE 900099 122 122 555427 985760672 973962802 0 11797870 X 10060430 10060430 54153 54153 179493 179493 963797886 963652729 145157 674636 674636 344877 344877 123173 123173 31160 31160 7396093 7396093 579167 579167 SHARED EMPLOYEE EXPENSE 3981335 3981335 729259 729259 987951662 981109252 6842410 0 139855580 154609141 172078849 190900890 1252543 1094280 79003 34234 47929 44769 87346969 96792063 400581870 443441143 9625984 9985445 139005096 173265001 175684475 186115372 324315555 369365818 X 76266315 74075325 76266315 74075325 400581870 443441143 -2190990 0 X 0 1 X 1 1 1 X X X 1 GEORGIA INSTITUTE OF TECHNOLOGY 586002023 6 1 10060430 0 1 10060430 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X SECTION D, LINE 3 THERE ARE 13 MEMBERS OF THE BOARD OF TRUSTEES. THREE ARE GIT FACULTY. ONE MEMBER IS SELECTED BY THE GEORGIA TECH ALUMNI ASSOCIATION. ONE MEMBER IS SELECTED BY THE GEORGIA TECH FOUNDATION. THESE FIVE SELECT EIGHT ADDITIONAL MEMBERS FROM INDUSTRY AT LARGE WITHOUT REGARD TO WHETHER THESE EIGHT ADDITIONAL MEMBERS ARE ALUMNI. THE CURRENT INVESTMENT POLICY WAS ADOPTED ON DECEMBER 8, 2009 AND IT FITS WITHIN REQUIREMENTS ESTABLISHED BY THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA. ADDITIONALLY, ANY CHANGES TO THE POLICY OR INVESTING IN ANY TYPE OF INVESTMENT VEHICLE NOT DESIGNATED BY THE CURRENT INVESTMENT POLICY REQUIRES THE APPROVAL OF THE BOARD OF TRUSTEES. ADDITIONALLY, THE BOARD OF TRUSTEES RECEIVES REPORTS FROM THE TREASURER OF THE COMPANY AT ALL SEMI-ANNUAL BOARD MEETINGS. SECTION E, LINE 1C GIT IS A UNIT OF THE UNIVERSITY SYSTEM OF THE STATE OF GEORGIA. GEORGIA STATE LAW PROHIBITS GIT FROM ENTERING INTO LONG TERM CONTRACTS (DEFINED AS IN EXCESS OF ONE YEAR) THAT WOULD PLACE AN OBLIGATION ON THE STATE. GTARC WAS ORGANIZED AND OPERATES PRIMARILY FOR THE PURPOSE OF SOLICITING GRANTS AND CONTRACTS AND ENTERING INTO CONTRACTS FOR RESEARCH AND SERVICES TO BE PERFORMED BY OR IN CONJUNCTION WITH GIT, OR TO BE PERFORMED USING GIT'S FACILITIES AND FOR RELATED OBJECTIVES. GTARC SERVES AS A CONTRACTING ENTITY FOR GIT AND CAN ENTER INTO LONG TERM CONTRACTS WITHOUT OBLIGATING THE STATE OF GEORGIA OR GIT. 0 1 X 79003 34234 44769 44769 SECURITY DEPOSITS 71123 LESSOR RECEIVABLE - CURRENT 6189311 LESSOR RECEIVABLE - NONCURRENT 43823830 RIGHT-TO-USE ASSETS 46707799 96792063 LEASE OBLIGATIONS - CURRENT 6189311 LEASE OBLIGATIONS - NONCURRENT 43823830 DEFERRED INFLOWS OF RESOURCES - LEASES 46707799 INTERCOMPANY PAYABLES 89394432 186115372 988569303 2808631 2808631 985760672 0 985760672 990760293 2808631 2808631 987951662 0 987951662 PART IV, LINE 2B: SPONSORED RESEARCH PROJECTS HAVE FEES CHARGED TO SPONSORS. THESE FEES ARE HELD ON BEHALF OF GIT AND CAN BE INVOICED TO GTARC BY THE APPROPRIATE DEPARTMENT OF GIT. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,808,631. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,808,631. 1 GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE ATLANTA GA 30332 586002023 170(C)(1) 10060430 0 STRATEGIC RESEARCH SUPPORT & RESEARCH PROGRAM SUPPORT 1 0 PART I, LINE 2: PURSUANT TO AN AGREEMENT BETWEEN GTARC AND THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA, THE GTARC BOARD OF TRUSTEES ISSUES GRANTS FROM TIME TO TIME AS IT SEES FIT FOR THE PROMOTION OF RESEARCH AT GIT. THESE GRANTS ARE FUNDED FROM THE BALANCES HELD IN TRUST FOR GIT WHICH ARE REFLECTED IN THE UNRESTRICTED NET POSITION OF GTARC. THE CLOSE RELATIONSHIP BETWEEN THE ORGANIZATIONS SERVES TO MONITOR THE USE OF THE FUNDS. 0 0 0 0 0 0 0 0 0 JAMES HUDGENS SECRETARY 0 617923 0 0 0 0 0 31878 0 35501 0 685302 0 0 SHANTAY BOLTON TRUSTEE 0 489985 0 0 0 10800 0 31878 0 31696 0 564359 0 0 CHAOUKI ABDALLAH PRESIDENT (THRU 09/24) 0 393268 0 0 0 8100 0 44647 0 25721 0 471736 0 0 TIM LIEUWEN PRESIDENT (FROM 09/24) 0 363595 0 0 0 0 0 31878 0 34874 0 430347 0 0 ROBERT BUTERA ASST SEC. (FROM 11/24) 0 333628 0 0 0 55 0 31878 0 36571 0 402132 0 0 JAMES FORTNER ASST SEC AND ASST. TREAS. 0 294178 0 0 0 10810 0 61859 0 24180 0 391027 0 0 TROY LITTLES TRUSTEE 0 298766 0 0 0 24944 0 27995 0 4411 0 356116 0 0 ROBERT FOY GENERAL MANAGER 0 216899 0 0 0 0 0 45828 0 22797 0 285524 0 0 ROMY SMITH ASST SEC 0 217543 0 0 0 0 0 0 0 64901 0 282444 0 0 KIM TOATLEY TREASURER 0 270512 0 0 0 0 0 0 0 11037 0 281549 0 0 MARK MILITELLO ASST TREASURER (FROM 11/24) 0 219634 0 0 0 0 0 45555 0 10915 0 276104 0 0 SOPHIA HERBERT-PETERSON ASST SEC. 0 209360 0 0 0 4657 0 20666 0 29821 0 264504 0 0 ALBERT CONCORD FACILITY SECURITY OFFICER 0 211891 0 0 0 0 0 43596 0 2192 0 257679 0 0 ROBERTA BURKE ASST SEC 0 206798 0 0 0 0 0 19265 0 1897 0 227960 0 0 NEIL VITRO ASST SEC AND ASST. TREAS. 0 172697 0 0 0 0 0 36384 0 18729 0 227810 0 0 CYNTHIA HOPE VP AND ASST. SECRETARY (THRU 08/24) 0 196960 0 0 0 0 0 15060 0 8315 0 220335 0 0 JARRETT ELLIS ASST. SEC. 0 179279 0 0 0 700 0 17186 0 18358 0 215523 0 0 VANNESSA DANIELS ASST SEC. 0 177152 0 0 0 742 0 16701 0 8620 0 203215 0 0 BRUCE HENRY ASST SEC AND ASST. TREAS. 0 138867 0 0 0 0 0 30270 0 23818 0 192955 0 0 TANESHA STEWARD ASST SEC. (THRU 11/24) 0 131148 0 0 0 569 0 26581 0 23637 0 181935 0 0 JOSEPH TESORIERO ASST TREASURER (FROM 11/24) 0 133801 0 0 0 0 0 27281 0 196 0 161278 0 0 FORM 990, PART VI, SECTION A, LINE 4 GTARC'S BYLAWS WERE UPDATED IN COORDINATION WITH THE BOARD OF TRUSTEES AND OFFICERS. THE CHANGES TO THE BYLAWS WERE OPERATIONAL AND SERVED TO CLARIFY AND AMEND THE GOVERNANCE STRUCTURE (INCREASING THE MAXIMUM NUMBER OF TRUSTEES FROM 10 TO 15) AND UPDATING PROCEDURES BASED ON BUSINESS GROWTH. FORM 990, PART VI, SECTION A, LINE 7A THERE ARE 13 MEMBERS OF THE BOARD OF TRUSTEES. THREE ARE GIT FACULTY. ONE MEMBER IS SELECTED BY THE GEORGIA TECH ALUMNI ASSOCIATION. ONE MEMBER IS SELECTED BY THE GEORGIA TECH FOUNDATION. THESE FIVE SELECT EIGHT ADDITIONAL MEMBERS FROM INDUSTRY AT LARGE WITHOUT REGARD TO WHETHER THESE EIGHT ADDITIONAL MEMBERS ARE ALUMNI. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SR. DIRECTOR OF ACCOUNTING AND FINANCE, PRESENTED IN DETAIL TO THE AUDIT COMMITTEE, AND THEN DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C GEORGIA TECH APPLIED RESEARCH CORPORATION HAS A CONFLICTS OF INTEREST POLICY IN PLACE. THE POLICY STATES THAT IN THE EVENT OF A CONFLICT OF INTEREST, AFFECTED BOARD MEMBERS MUST RECUSE THEMSELVES FROM A VOTE. THE POLICY MUST BE READ AND SIGNED ANNUALLY BY ALL OFFICERS, KEY EMPLOYEES AND BOARD MEMBERS. AN ON-LINE SYSTEM WAS IMPLEMENTED IN 2013. ANY CONFLICTS OF INTEREST ARE REQUIRED TO BE DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS NO FULL-TIME EMPLOYEES. KEY PERSONNEL IN SUPPORT OF THE ORGANIZATION ARE GEORGIA TECH EMPLOYEES AND ARE SUBJECT TO THE COMPENSATION GUIDELINES OF THE BOARD OF REGENTS. THE BOARD OF REGENTS PERIODICALLY REVIEWS EMPLOYEE COMPENSATION AND COMPARES IT TO VARIOUS MARKET DATA. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS, ARTICLES OF INCORPORATION, FINANCIALS, AND CONFLICT OF INTEREST ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G RESEARCH SERVICE CHARGE: PROGRAM SERVICE EXPENSES 963,652,729. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 963,652,729. BANK FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 137,682. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 137,682. VPRA CONSULTING AND PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 7,475. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,475. GEORGIA TECH RESEARCH CORPORATION 926 DALNEY STREET NW ATLANTA GA 303320415 580603146 SPONSORED RESEARCH FOR GEORGIA INSTITUTE OF TECHNOLOGY GA 501(C)(3) LINE 12C, III-FI GEORGIA INSTITUTE OF TECHNOLOGY 0 GEORGIA INSTITUTE OF TECHNOLOGY 500 TECH PARKWAY ATLANTA GA 30332 586002023 EDUCATION AND RESEARCH GA 170(C)(1) BOARD OF REGENTS OF THE USG 0 GEORGIA TECH FACILITIES INC 225 N AVE LYMAN HALL STE 325 ATLANTA GA 30332 521442293 FINANCING & CONSTRUCTING BUILDINGS FOR GEORGIA INSTITUTE OF TECHNOLOGY GA 501(C)(3) LINE 12A, I GEORGIA INSTITUTE OF TECHNOLOGY 0 GLOBAL CENTER FOR MEDICAL INNOVATION INC 75 5TH STREET NW ATLANTA GA 30332 264723391 RESEARCH GA 501(C)(3) LINE 7 GEORGIA INSTITUTE OF TECHNOLOGY 0 HOME PARK LEARNING CENTER INC 500 TECH PARKWAY ATLANTA GA 30332 582644893 CHILD CARE GA 501(C)(3) LINE 12A, I GEORGIA INSTITUTE OF TECHNOLOGY 0 SOUTHERN LIGHT RAIL INC 225 NORTH AVENUE NW ATLANTA GA 30332 300240711 COMMUNICATION SERVICES GA 501(C)(3) LINE 7 GEORGIA INSTITUTE OF TECHNOLOGY 0 GEORGIA TECH ATHLETIC ASSOCIATION 150 BOBBY DODD WAY NW ATLANTA GA 30332 580622514 ATHLETICS GA 501(C)(3) LINE 7 GEORGIA INSTITUTE OF TECHNOLOGY 0 GEORGIA ADVANCED TECHNOLOGY VENTURES INC 225 NORTH AVENUE NW ATLANTA GA 30332 582538285 ECONOMIC DEVELOPMENT GA 501(C)(3) LINE 12A, I GEORGIA INSTITUTE OF TECHNOLOGY 0 0 1 0 0 1 0 0 0 0 0 0 1 1 1 1 1 1 0 0