2023-05-12T07:16:23-05:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1075 PEACHTREE STREET NE SUITE 2200 ATLANTA GA 30309 990 2021-07-01 580603146 GEORGIA TECH RESEARCH CORPORATION GEOR 4048944819 926 DALNEY STREET NW ATLANTA GA 303320415 NEIL VITRO ASSISTANT TREASURER/SECRETARY 4048944819 2023-05-09 1 NEIL VITRO 999009999 AMANDA ADAMS P00748038 4042090954 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ROBERT FOY 926 DALNEY STREET NW ATLANTA GA 303320415 395391762 0 X WWW.GTRC.GATECH.EDU X 1937 GA GEORGIA TECH RESEARCH CORPORATION ADVANCES RESEARCH AND TECHNOLOGICAL DEVELOPMENT AT GEORGIA TECH AS IT CONTINUALLY SEEKS TO ADVANCE SOCIETY AND THE GLOBAL COMPETITIVENESS OF GEORGIA AND THE NATION. GTRC SUPPORTS AND PROMOTES RESEARCH THROUGH ITS STEWARDSHIP OF THE FUNDS FOR SPONSORED RESEARCH AND FINANCIAL SUPPORT OF RESEARCH ACTIVITIES. GTRC EMBODIES GEORGIA TECH'S FOUNDING SPIRIT OF ENTREPRENEURSHIP AND FOCUS ON THE APPLICATIONS OF ENGINEERING, SCIENCE AND TECHNOLOGY TO THE CREATION OF MEANINGFUL NEW IDEAS, METHODS, AND OPPORTUNITIES. THROUGH TECHNOLOGY TRANSFER, GTRC ENABLES THE INSTITUTE TO MAINTAIN BENEFICIAL PARTNERSHIPS WITH PUBLIC AND PRIVATE SECTORS IN RESEARCH AND TECHNOLOGY TO ASSURE THE BENEFITS OF DISCOVERY ARE WIDELY DISSEMINATED. 12 9 0 0 99489 90857 527000 4601696 341292802 379296509 245554 202688 2836614 10183539 344901970 394284432 2520347 3558332 0 0 0 0 0 0 0 329831033 375981690 332351380 379540022 12550590 14744410 176132447 330106469 122413084 261642696 53719363 68463773 THE GEORGIA TECH RESEARCH CORPORATION (GTRC) 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 377431586 3558332 379296509 THE GEORGIA INSTITUTE OF TECHNOLOGY RESEARCH ACTIVITY IS SUPPORTED BY THE GEORGIA TECH RESEARCH CORPORATION WHICH CONSISTS OF OVER 2,000 INDIVIDUAL PROJECTS FOR GOVERNMENTS AND INDUSTRY. PAYMENTS AND REIMBURSEMENT OF EXPENSES AND GRANTS TO AND FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY HAVE BEEN MADE. THE GEORGIA TECH 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. 377431586 1 1 0 0 0 0 0 1 0 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 1 216 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X NEIL VITRO 4043854446 926 DALNEY ST NW ATLANTA GA 303320415 CHAOUKI T ABDALLAH PRESIDENT AND TREASURER 1.00 40.00 X X 0 403469 101787 KELLY FOX TRUSTEE 1.00 40.00 X 0 448793 130828 STEVEN MCLAUGHLIN TRUSTEE 1.00 40.00 X 0 548304 54767 JOHN BARNARD TRUSTEE 0.50 0.50 X 0 0 0 PATRICIA K FALCONE TRUSTEE 0.50 0.50 X 0 0 0 SCOTT FRANK TRUSTEE 0.50 0.50 X 0 0 0 LAURIE LOCASCIO TRUSTEE 0.50 0.50 X 0 0 0 KENNETH MASSARONI TRUSTEE 0.50 0.50 X 0 0 0 DAVID GARRISON TRUSTEE 0.50 0.50 X 0 0 0 PATRICK KELLY TRUSTEE 0.50 0.50 X 0 0 0 LESLIE SIBERT TRUSTEE 0.50 0.50 X 0 0 0 FREDERIC VILLENEUVE TRUSTEE 0.50 0.50 X 0 0 0 REBECCA CARAVATI VP AND GENERAL MANAGER 20.00 20.00 X 0 265170 81692 MARY LOZIER SECRETARY 1.00 40.00 X 0 376187 44359 ALBERT CONCORD FACILITY SECURITY OFFICER 1.00 40.00 X 0 181190 48702 NEIL VITRO ASST SEC & ASST TREASURER 20.00 20.00 X 0 157817 49080 BRUCE HENRY ASST SEC & ASST TREASURER 16.00 24.00 X 0 110919 61693 JAMES FORTNER ASST SEC & ASST TREASURER 1.00 40.00 X 0 274346 97642 RAGHUPATHY SIVAKUMAR ASST SEC & ASST TREASURER 1.00 40.00 X 0 351173 54797 KEVIN WOZNIAK ASSISTANT SECRETARY 16.00 24.00 X 0 185875 46261 DANA SIMPSON ASSISTANT SECRETARY 40.00 1.00 X 0 155035 65348 CYNTHIA HOPE ASSISTANT SECRETARY 40.00 1.00 X 0 196055 28142 TANESHA STEWARD ASSISTANT SECRETARY 1.00 40.00 X 0 121236 41885 JOHN KINGTON ASSISTANT SECRETARY 1.00 40.00 X 0 120291 36034 ROBERT BUTERA VP OF RESEARCH 1.00 40.00 X 0 234110 51006 SOPHIA HERBERT-PETERSON DIRECTOR 10.00 30.00 X 0 164687 41934 KELLY WINN DIRECTOR 14.00 26.00 X 0 147366 46652 MARY BERAN DIRECTOR 14.00 26.00 X 0 145811 47337 TERRY BRAY DIRECTOR 40.00 1.00 X 0 148222 32831 STEPHEN CROSS FORMER PRESIDENT/TRUSTEE 1.00 40.00 X 0 146652 0 0 4882708 1162777 0 1 1 0 GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE ATLANTA GA 30332 RESEARCH 351634914 EDX INC 141 PORTLAND STREET FLOOR 9 CAMBRIDGE MA 02139 ONLINE COURSES 2303099 AMSURE - A DIVISION OF ATCFSI PO BOX 15044 ALBANY NY 12212 INSURANCE SERVICES 851693 GT GLOBAL INC 225 NORTH AVENUE LYMAN HALL ROOM 3 ATLANTA GA 30332 RESEARCH SUPPORT 450000 CHERRY BEKAERT LLP PO BOX 25549 RICHMOND VA 232605500 ACCOUNTING SERVICES 323500 12 4601696 4601696 RESEARCH CONTRACTS 541700 378096509 378096509 GIT ONLINE LEARNING 541700 1200000 1200000 379296509 42692 42692 2773455 2773455 8409109 1107330 7301779 7301779 7301779 159996 0 159996 159996 159996 K-1 INCOME 541900 99489 99489 8816 8816 108305 394284432 379296509 99489 10286738 X 3558332 3558332 413 413 110460 110460 78685 78685 358134885 357902869 232016 132953 132953 141324 141324 5409390 5409390 5713 5713 7445566 7445566 299805 299805 ONLINE LEARNING EXPENSE 3115429 3115429 SHARED EMPLOYEE EXPENSE 953591 953591 UBI TAX 20609 20609 PROFESSIONAL DEVELOPMEN 707 707 132160 132160 379540022 377431586 2108436 0 81193423 120665951 527000 91083221 87426404 125191 308760 3385140 2821865 690998 563275 63 61 2512551 1880377 0 119261641 176132447 330106469 39613114 46355752 78595310 94936836 4204660 120350108 122413084 261642696 X 53284804 63745987 434559 4717786 53719363 68463773 176132447 330106469 14744410 0 X 0 1 X 1 1 1 X X X 1 GEORGIA INSTITUTE OF TECHNOLOGY 586002023 6 1 3558332 0 1 3558332 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 TWELVE (12) MEMBERS OF THE BOARD OF TRUSTEES. THREE ARE GIT FACULTY. ONE MEMBER IS SELECTED BY THE GEORGIA TECH NATIONAL ALUMNI ASSOCIATION. ONE MEMBER IS SELECTED BY THE GEORGIA TECH FOUNDATION. THESE FIVE SELECT SEVEN ADDITIONAL MEMBERS FROM INDUSTRY AT LARGE WITHOUT REGARD TO WHETHER THESE SEVEN 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. AS A RESULT, GTRC 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. GTRC SERVES AS A CONTRACTING ENTITY FOR GIT AND CAN ENTER INTO LONG TERM CONTRACTS WITHOUT OBLIGATING THE STATE OF GEORGIA OR GIT. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 240735 X 0 222583 51339 171244 2921822 2770526 151296 240735 240735 563275 RIGHT TO USE ASSETS 58820160 LESSOR RECEIVABLE - CURRENT 7116493 LESSOR RECEIVABLE - NONCURRENT 52595778 SECURITY DEPOSITS 13413 DUE FROM GTARC 715797 119261641 FINANCED PURCHASE OF EQUIPMENT 1880377 DEFERRED INFLOWS OF RESOURCES 58829364 LEASE OBLIGATIONS - CURRENT 7116579 LEASE OBLIGATIONS - NONCURRENT 52523788 120350108 395391762 1107330 1107330 394284432 0 394284432 380647352 1107330 1107330 379540022 0 379540022 PART III, LINE 4: THE ORGANIZATION'S COLLECTION IS THE INSTITUTE OF PAPER SCIENCE TECHNOLOGY MUSEUM COLLECTION. THE MUSEUM IS OPEN TO THE PUBLIC AND SCHEDULES A VARIETY OF TOURS INCLUDING THOSE FOR ADULTS, SCHOOLS, CAMPS, AND CHILD CARE CENTERS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 1,107,330. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 1,107,330. 1 GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE ATLANTA GA 303320257 586002023 170(C)(1) 3558332 0 RESEARCH PROGRAM SUPPORT 1 0 PART I, LINE 2: PURSUANT TO AN AGREEMENT BETWEEN GTRC AND THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA, DATED APRIL 1, 1953, THE GTRC 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 GTRC. THE CLOSE RELATIONSHIP BETWEEN THE ORGANIZATIONS SERVES TO MONITOR THE USE OF THE GRANT FUNDS. 0 1 0 0 0 0 0 0 0 STEVEN MCLAUGHLIN TRUSTEE 0 463304 0 0 0 85000 0 26796 0 27971 0 603071 0 0 KELLY FOX TRUSTEE 0 437993 0 0 0 10800 0 101796 0 29032 0 579621 0 0 CHAOUKI T ABDALLAH PRESIDENT AND TREASURER 0 403469 0 0 0 0 0 55881 0 45906 0 505256 0 0 MARY LOZIER SECRETARY 0 376187 0 0 0 0 0 26796 0 17563 0 420546 0 0 RAGHUPATHY SIVAKUMAR ASST SEC & ASST TREASURER 0 241626 0 0 0 109547 0 26796 0 28001 0 405970 0 0 JAMES FORTNER ASST SEC & ASST TREASURER 0 273802 0 0 0 544 0 54998 0 42644 0 371988 0 0 REBECCA CARAVATI VP AND GENERAL MANAGER 0 265170 0 0 0 0 0 52475 0 29217 0 346862 0 0 ROBERT BUTERA VP OF RESEARCH 0 219493 0 0 0 14617 0 21391 0 29615 0 285116 0 0 KEVIN WOZNIAK ASSISTANT SECRETARY 0 178798 0 0 0 7077 0 17722 0 28539 0 232136 0 0 ALBERT CONCORD FACILITY SECURITY OFFICER 0 181190 0 0 0 0 0 35590 0 13112 0 229892 0 0 CYNTHIA HOPE ASSISTANT SECRETARY 0 196055 0 0 0 0 0 18480 0 9662 0 224197 0 0 DANA SIMPSON ASSISTANT SECRETARY 0 154835 0 0 0 200 0 32233 0 33115 0 220383 0 0 NEIL VITRO ASST SEC & ASST TREASURER 0 156641 0 0 0 1176 0 31332 0 17748 0 206897 0 0 SOPHIA HERBERT-PETERSON DIRECTOR 0 153649 0 0 0 11038 0 16100 0 25834 0 206621 0 0 KELLY WINN DIRECTOR 0 147366 0 0 0 0 0 29176 0 17476 0 194018 0 0 MARY BERAN DIRECTOR 0 145611 0 0 0 200 0 29156 0 18181 0 193148 0 0 TERRY BRAY DIRECTOR 0 148222 0 0 0 0 0 14347 0 18484 0 181053 0 0 BRUCE HENRY ASST SEC & ASST TREASURER 0 110756 0 0 0 163 0 24135 0 37558 0 172612 0 0 TANESHA STEWARD ASSISTANT SECRETARY 0 114409 0 0 0 6827 0 23877 0 18008 0 163121 0 0 JOHN KINGTON ASSISTANT SECRETARY 0 118924 0 0 0 1367 0 11766 0 24268 0 156325 0 0 STEPHEN CROSS FORMER PRESIDENT/TRUSTEE 0 0 0 0 0 146652 0 0 0 0 0 146652 0 146652 PART I, LINE 4B FIVE GEORGIA INSTITUTE OF TECHNOLOGY SENIOR ADMINISTRATORS EITHER CURRENTLY OR PREVIOUSLY SERVED AS TRUSTEES AND OFFICERS OF THE ORGANIZATION AND PARTICIPATED IN A NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN STRUCTURED UNDER IRC 415(M) WHILE EMPLOYED BY THE INSTITUTE. PARTICIPANTS IN THE PLAN INCLUDED THE FOLLOWING: KELLY FOX, EXECUTIVE VP FINANCE GIT, CHAOUKI ABDALLAH, EXECUTIVE VP FOR RESEARCH, STEVEN MCLAUGHLIN, PROVOST AND EXECUTIVE VP ACADEMIC AFFAIRS, JAMES FORTNER, VP FINANCE & PLANNING, AND STEPHEN CROSS, FORMER EVP RESEARCH. CONTRIBUTIONS TO THE PLAN IN 2021 WERE FUNDED BY THE INSTITUTE AND ARE INCLUDED IN AMOUNTS DISCLOSED ON SCHEDULE J, PART II COLUMN C: DEFERRED COMPENSATION AS FOLLOWS: KELLY FOX: $43,000 CHAOUKI ABDALLAH: $0 STEVEN MCLAUGHLIN: $0 JAMES FORTNER: $0 STEPHEN CROSS: $0 FORM 990, PART VI, SECTION A, LINE 7A THERE ARE TWELVE (12) MEMBERS OF THE BOARD OF TRUSTEES. THREE ARE GIT FACULTY. ONE MEMBER IS SELECTED BY THE GEORGIA TECH NATIONAL ALUMNI ASSOCIATION. ONE MEMBER IS SELECTED BY THE GEORGIA TECH FOUNDATION. THESE FIVE SELECT SEVEN ADDITIONAL MEMBERS FROM INDUSTRY AT LARGE WITHOUT REGARD TO WHETHER THESE SEVEN 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 RESEARCH CORPORATION HAS A CONFLICT 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 CONFLICT OF INTEREST IS 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 THE ORGANIZATION'S BYLAWS, ARTICLES OF INCORPORATION, FINANCIALS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G RESEARCH PERFORMED BY GIT: PROGRAM SERVICE EXPENSES 357,902,869. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 357,902,869. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 232,016. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 232,016. GEORGIA TECH APPLIED RESEARCH CORPORATION 926 DALNEY STREET NW ATLANTA GA 303320415 582374837 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 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 GEORGIA TECH GLOBAL INC 221 UNCLE HEINIE WAY NW ATLANTA GA 303320257 271070747 SUPPORT INTERNATIONAL ACTIVITIES OF GIT 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 N 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 N AVENUE NW ATLANTA GA 30332 582538285 ECONOMIC DEVELOPMENT GA 501(C)(3) LINE 12A, I GEORGIA INSTITUTE OF TECHNOLOGY 0 0 1 0 1 0 0 0 0 0 1 0 1 1 1 1 1 1 0 0