Albany State University Foundation Inc

EIN: 237032763 501(c)(3) Public & Societal Benefit

Albany, GA

Total Revenue
$3,933,675
Total Expenses
$3,037,524
Total Assets
$11,561,234
Net Assets
$11,273,255
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
GA
Phone
2295003289
Tax Period
2024-07-01 to 2025-06-30

Albany State University Foundation Inc, founded in 1969, is a community nonprofit in the Public & Societal Benefit sector that reported $3.9M in total revenue in fiscal year 2024. Revenue surged 97% from the prior year, signaling strong growth momentum. The organization ran a surplus of $896K, a strong 23% operating margin.

Mission

To provide financial aid to students and financial support of Albany State University, its faculty, staff, research, and advancement of higher education.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,316,949
Program Service Revenue $0
Investment Income $604,376
Other Revenue $12,350
TOTAL REVENUE $3,933,675

Expense Breakdown

Grants Paid $2,611,532
Salaries & Benefits $0
Fundraising Expenses $12,608
Program Expenses $2,878,942
Other Expenses $425,992
TOTAL EXPENSES $3,037,524

Year-over-Year Comparison

2024 2023 Change
Revenue $3,933,675 $1,997,259 +1.0%
Expenses $3,037,524 $907,416 +2.3%
Net Income $896,151 $1,089,843 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
12
Employees
N/A
Volunteers
12

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$203,800
Total Directors
15
$426,419
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Bruce Melton Secretary 0.5
Officer Director
$0 $0 $0
Gregory Hylick Chairman 0.5
Officer Director
$0 $0 $0
Rachelle Scott Vice Chairman 0.5
Officer Director
$0 $0 $0
TaKeshia Thomas Treasurer 0.5
Officer Director
$0 $0 $0
Daniel Simmons Board Member 0.5
Director
$0 $0 $0
Graham Edwards Board Member 0.5
Director
$0 $0 $0
Lawrence Drake III Interim President of ASU 1.0
Director
$0 $26,670 $190,903
Maria Boynton Board Member 0.5
Director
$0 $0 $0
Marion Federick President of ASU, outgoing 1.0
Director
$0 $53,448 $235,516
Mark Johnson Board Member 0.5
Director
$0 $0 $0
Marvin Laster Board Member 0.5
Director
$0 $0 $0
Robert Scott President of ASU, incoming 1.0
Director
$0 $0 $0
Vinson Davis Board Member 0.5
Director
$0 $0 $0
Virgil Adams Board Member 0.5
Director
$0 $0 $0
Virginia Harris Board Member 0.5
Director
$0 $0 $0
Valerie Melton Executive Director 1.0
Officer
$0 $35,300 $203,800
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $3,933,675 $3,037,524 $11,561,234 $896,151
2024 No data No data No data No data
2023 $1,600,152 $1,304,892 $8,733,142 $295,260
2022 $1,919,573 $746,519 $8,434,724 $1,173,054
2021 $1,543,862 $2,231,107 $7,770,602 $-687,245
2020 $3,219,695 $2,960,390 $46,424,761 $259,305
2019 $5,438,135 $6,496,194 $47,282,655 $-1,058,059
2018 $4,847,460 $5,449,026 $80,276,725 $-601,566
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