Georgia State University Foundation Inc (EIN 586033185) - 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

1958

Legal Domicile

Phone

4044133402

Tax Period

2024-07-01 to 2025-06-30

Georgia State University Foundation Inc, founded in 1958, is a mid-sized nonprofit in the Education sector that reported $91.6M in total revenue in fiscal year 2024. Revenue surged 78% from the prior year, signaling strong growth momentum. The organization ran a surplus of $26.8M, a strong 29% operating margin.

Mission

Support the mission and best interests of Georgia State University.

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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 $49,862,355

Program Service Revenue $19,508,722

Investment Income $22,319,432

Other Revenue $-115,776

TOTAL REVENUE $91,574,733

Expense Breakdown

Grants Paid $39,990,739

Salaries & Benefits $0

Fundraising Expenses $1,115,317

Program Expenses $62,473,532

Other Expenses $24,578,633

TOTAL EXPENSES $64,760,206

Year-over-Year Comparison

	2024	2023	Change
Revenue	$91,574,733	$51,589,373	+0.8%
Expenses	$64,760,206	$45,910,245	+0.4%
Net Income	$26,814,527	$5,679,128	+3.7%

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

N/A

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

$1,008,152

Total Directors

$304,659

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHERYL HARRELSON	PRESIDENT & VP OF UNIVERSITY ADVANCEMENT	20.0	Officer Director	$275,616	$29,043	$304,659
KEVIN E LOFTON	GSUF Board Chair/Trustee	1.0	Officer Director	$0	$0	$0
MARY STOKES	Vice Chair/Chair, Investment/Trustee	1.0	Officer Director	$0	$0	$0
REGYNALD G WASHINGTON	Secretary/Trustee	1.0	Officer Director	$0	$0	$0
URSULA GODOY-ARBELAEZ	Treasurer & Chair, Finance Committee/Trustee	1.0	Officer Director	$0	$0	$0
AILEEN B VALIANOS	TRUSTEE	1.0	Director	$0	$0	$0
ALFRED AL MCRAE	TRUSTEE	1.0	Director	$0	$0	$0
ALISON B JONES	TRUSTEE	1.0	Director	$0	$0	$0
ALLISON POWELL	TRUSTEE	1.0	Director	$0	$0	$0
CHRISTOPHER CHAN	TRUSTEE	1.0	Director	$0	$0	$0
DAN KRAUSE	TRUSTEE	0.3	Director	$0	$0	$0
DR GRIMES	TRUSTEE	0.3	Director	$0	$0	$0
ERIKA MEINHARDT	TRUSTEE	1.0	Director	$0	$0	$0
ESMAEL HILL	Chair, Real Estate Committee/Trustee	1.0	Director	$0	$0	$0
Fabiola Charles-Stokes	Trustee	1.0	Director	$0	$0	$0
FELICIA M MAYFIELD	Chair, Development/Trustee	1.0	Director	$0	$0	$0
FRANK H BOYKIN	Immediate Past Board Chair/Trustee	1.0	Director	$0	$0	$0
JANINE BOWEN	Chair, Nov & Gov/Trustee	1.0	Director	$0	$0	$0
KIMBERLY REED	TRUSTEE	1.0	Director	$0	$0	$0
KIMBERLY S HIXON	Chair, Audit Committee/Trustee	1.0	Director	$0	$0	$0
L JARED ABRAMSON	EX-OFFICIO & GSU EVP & COO	1.0	Director	$0	$0	$0
M BRIAN BLAKE	EX-OFFICIO TRUSTEE & GSU PRESIDENT	1.0	Director	$0	$0	$0
MARK C ADAMS	TRUSTEE	1.0	Director	$0	$0	$0
NANCY R MANSFIELD	TRUSTEE	0.3	Director	$0	$0	$0
NEDA A BARQAWI	TRUSTEE	1.0	Director	$0	$0	$0
NIKITA J TRIVEDI	TRUSTEE	1.0	Director	$0	$0	$0
PATRICK KO	TRUSTEE	1.0	Director	$0	$0	$0
PAULA STEPHENS	TRUSTEE	0.3	Director	$0	$0	$0
RANDALL KENT	Ex-Officio (Alumni Association Board Chair)/Trustee	1.0	Director	$0	$0	$0
SABRINA SANDERS	TRUSTEE	1.0	Director	$0	$0	$0
SUSAN ECKERT	TRUSTEE	1.0	Director	$0	$0	$0
TERRANCE ROGERS	TRUSTEE	1.0	Director	$0	$0	$0
TRACY L DANIELS	TRUSTEE	1.0	Director	$0	$0	$0
DALE PALMER	GSUF ASSISTANT TREASURER/CFO	35.0	Officer	$216,330	$40,469	$256,799
FELICIA THOMAS	GSUF ASST. SECRETARY	20.0	Officer	$61,594	$33,806	$95,400
TABATHA MICHEL	GSUF INTERIM PRESIDENT/ AVP	20.0	Officer	$251,384	$31,479	$282,863
Telly Mcgaha	GSUF Interim President/AVP	20.0	Officer	$61,886	$6,545	$68,431
CHRIS BURGE	AVP ADVANCEMENT INFOSYS/TECH	40.0	Highest	$191,471	$69,398	$260,869
Holly Sailers	Comptroller	40.0	Highest	$147,746	$40,411	$188,157

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	$91,574,733	$64,760,206	$565,653,579	$26,814,527
2024	$51,589,373	$45,910,245	$534,177,903	$5,679,128
2023	$75,121,053	$41,786,024	$505,025,039	$33,335,029
2022	$89,649,877	$33,855,304	$466,073,205	$55,794,573
2021	$51,749,529	$33,465,037	$464,566,593	$18,284,492
2020	$31,731,725	$34,578,722	$401,061,734	$-2,846,997
2019	$43,994,265	$54,766,776	$412,277,586	$-10,772,511
2018	$82,987,287	$43,282,105	$422,834,936	$39,705,182

Georgia State University Foundation Inc