UNIVERSITY OF NORTH GEORGIA FOUNDATION INC (EIN 237066297) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1959

Legal Domicile

Principal Officer

JACK ELROD

Phone

7068673093

Tax Period

2024-07-01 to 2025-06-30

UNIVERSITY OF NORTH GEORGIA FOUNDATION INC, founded in 1959, is a mid-sized nonprofit in the Education sector that reported $10.8M in total revenue in fiscal year 2024. Expenses of $15.6M exceeded revenue, resulting in a 45% operating deficit.

Mission

FOR COMPLETE DESCRIPTION.THE PURPOSES OF THE FOUNDATION ARE TO PROMOTE AND ENCOURAGE CHARITABLE GIVING AND PHILANTHROPY FOR THE BENEFIT OF UNIVERSITY OF NORTH GEORGIA;TO SUPPLEMENT AND EXPAND THE HORIZONS OF UNIVERSITY OF NORTH GEORGIA IN ITS REGIONAL, STATEWIDE AND NATIONAL MISSIONS AS WELL AS SERVE AS AN ADVOCATE FOR THE UNIVERSITY AND ITS DESIGNATION AS THE SENIOR MILITARY COLLEGE OF THE STATE OF GEORGIA. THE FOUNDATION WILL RECEIVE, INVEST, ACCOUNT FOR, AND ALLOCATE PRIVATE GIFTS AND CONTRIBUTIONS IN ORDER TO CONTRIBUTE TO A SUPERIOR EDUCATION FOR STUDENTS, ATTENDING NOT ONLY TO THEIR INTELLECTUAL GROWTH BUT ALSO TO THEIR DEVELOPMENT AS ADULTS COMMITTED TO HIGH ETHICAL STANDARDS AND FULL PARTICIPATION AS LEADERS IN THEIR MILITARY, PUBLIC, PRIVATE, AND NON-PROFIT FIELDS OF ENDEAVOR.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,736,847

Program Service Revenue $0

Investment Income $3,017,543

Other Revenue $-1,756

TOTAL REVENUE $10,752,634

Expense Breakdown

Grants Paid $14,616,957

Salaries & Benefits $0

Fundraising Expenses $25,922

Program Expenses $15,214,614

Other Expenses $998,049

TOTAL EXPENSES $15,615,006

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,752,634	$10,963,329	0.0%
Expenses	$15,615,006	$9,844,560	+0.6%
Net Income	$-4,862,372	$1,118,769	-5.3%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$491,922

Total Directors

$490,538

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MIKE P SHANNON	TRUSTEE, PRESIDENT UNG	1.00	Director	$0	$90,223	$490,538
MR JACK ELROD III	CHAIRMAN	4.00	Officer Director	$0	$0	$0
MS JENNY MULLER	VICE-CHAIRMAN	4.00	Officer Director	$0	$0	$0
MR CHRISTOPHER H KITCHENS	TREASURER, COMMITTEE CHAIR	4.00	Officer Director	$0	$0	$0
MR JOSH TETEAK	SECRETARY	4.00	Officer Director	$0	$0	$0
MS BETH H BALDWIN	COMMITTEE CHAIRMAN	4.00	Director	$0	$0	$0
MR MICHAEL HIGLEY	COMMITTEE CHAIRMAN	4.00	Director	$0	$0	$0
MRS MARY HELEN MCGRUDER	COMMITTEE CHAIRMAN	4.00	Director	$0	$0	$0
MR NICHOLAS 'NICK' MASSENGILL	IMMEDIATE PAST CHAIR	4.00	Director	$0	$0	$0
MR PATRICK 'PAT' MAGILL	TRUSTEE	1.00	Director	$0	$0	$0
MR GLENNIS BARNES	TRUSTEE	1.00	Director	$0	$0	$0
MRS JEANNELL F GOINES	TRUSTEE	1.00	Director	$0	$0	$0
MR STEVEN 'KELLY' HORNE	TRUSTEE	1.00	Director	$0	$0	$0
MS LAURIE BAGLEY	TRUSTEE	1.00	Director	$0	$0	$0
MR DONALD 'DON' MCCUNNIFF	TRUSTEE	1.00	Director	$0	$0	$0
MR OSCAR 'BO' FEARS JR	TRUSTEE	1.00	Director	$0	$0	$0
MR JAMES A FAULKNER	TRUSTEE	1.00	Director	$0	$0	$0
DR LARRY PAYNE	TRUSTEE	1.00	Director	$0	$0	$0
MRS CAROL BURRELL	TRUSTEE	1.00	Director	$0	$0	$0
MRS CHRIS CRAWFORD	TRUSTEE	1.00	Director	$0	$0	$0
MR GILES BOWMAN	TRUSTEE	1.00	Director	$0	$0	$0
MR PHILIPP BIECHTELER	TRUSTEE	1.00	Director	$0	$0	$0
LTG STEPHEN FOGARTY	TRUSTEE	1.00	Director	$0	$0	$0
DR KATIE METROCK	TRUSTEE	1.00	Director	$0	$0	$0
MRS VANESSA SARAZUA	TRUSTEE	1.00	Director	$0	$0	$0
MR DEAN 'STEWART' SWANSON	TRUSTEE	1.00	Director	$0	$0	$0
MR MARVIN VINES	TRUSTEE	1.00	Director	$0	$0	$0
MR WILLIAM 'BILL' MITCHELL	TRUSTEE	1.00	Director	$0	$0	$0
MS AMANDA M WILKSON	TRUSTEE	1.00	Director	$0	$0	$0
MR ROBERT 'BOB' SWOSZOWSKI	TRUSTEE	1.00	Director	$0	$0	$0
MR JEFF TARNOWSKI	CEO	8.00	Officer	$0	$87,438	$274,368
AMANDA L HARDEN	CFO	8.00	Officer	$0	$92,505	$217,554

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	$10,752,634	$15,615,006	$130,497,587	$-4,862,372
2024	$10,963,329	$9,844,560	$121,529,067	$1,118,769
2023	$8,294,894	$8,518,453	$108,524,336	$-223,559
2022	$25,395,245	$12,075,760	$100,612,375	$13,319,485
2021	$9,379,486	$15,883,256	$101,168,345	$-6,503,770
2020	$16,681,091	$6,385,391	$85,606,960	$10,295,700
2019	$6,227,969	$4,995,503	$73,743,002	$1,232,466

UNIVERSITY OF NORTH GEORGIA FOUNDATION INC