Armstrong Atlantic State University Educational Properties Foundation in Savannah, Georgia (GA)

Armstrong Atlantic State University Educational Properties Foundation
Employer Identification Number (EIN)	311604184
Name of Organization	Armstrong Atlantic State University Educational Properties Foundation
In Care of Name	Armstrong Atlantic State Universi
Address	11935 Abercorn St, Savannah, GA 31419-1997
Activities	Described in section 509(a)(2) of the Code, Student housing activities
Subsection	Charitable Organization
Ruling Date	04/1998
Deductibility	Contributions are deductible
Foundation	Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2013
Assets	$50,000,000 to greater
Income	$5,000,000 to $9,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$113,504,642
Amount of Income	$6,470,700
Form 990 Revenue Amount	$6,470,700
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Student Services, Organizations of Students

Non-representatives - add comments:

Amount of income in 2013: $6,470,700 (it was $6,558,803 in 2012)

This organization:	$6,470,700
Other organizations performing similar types of work:	$85,334

Assets in 2013: $113,504,642 (it was $117,038,291 in 2012)

This organization:	$113,504,642
Other organizations performing similar types of work:	$44,771

Expenses in 2013: $5,954,524

Armstrong Atlantic State University Educational Properties Foundation:	$5,954,524
Other organizations performing similar types of work:	$64,634

Income to expenses ratio in 2013: 1.1

This organization:	1.1
Other organizations performing similar types of work:	0.8

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

	2012	2013
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	Yes	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	No	No
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	No	No
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	No	No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	Yes	Yes
Did the organization report an amount for other liabilities?	Yes	Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	No	No
Did the organization obtain separate, independent audited financial statements for the tax year?	Yes	Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?	No	No
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	No	No
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	No	No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	Yes	Yes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	No	No
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	No	No
Did the organization receive more than $25,000 in non-cash contributions?	No	No
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	No	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	Yes	Yes
Was the organization related to any tax-exempt or taxable entity?	Yes	Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	No	No
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2010	2011	2012	2013
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096			0	0
The number of Forms W-2G			0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?			No	No
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return			0	0
Did the organization file all required federal employment tax returns?			No	No
Did the organization have unrelated business gross income of $1,000 or more during the year?	No	No	No	No
Has it filed a Form 990-T for this year?			No	No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?			No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?			No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?			No	No
Did the organization file Form 8886-T?			No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?			No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?			No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?			No	No
Did the organization notify the donor of the value of the goods or services provided?			No	No
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?			No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?			No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?			No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?			No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?			No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?			No	No
Did the sponsoring organization make any taxable distributions under section 4966?			No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?			No	No
Initiation fees and capital contributions	$0	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0	$0
Gross income from other sources	$0	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?			No	No
The amount of tax-exempt interest received or accrued during the year			$0	$0
Is the organization licensed to issue qualified health plans in more than one state?			No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans			$0	$0
The amount of reserves on hand			$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?			No	No
Has it filed a Form 720 to report these payments?			No	No

	2012	2013
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$0	$0
Total reportable compensation from related organizations	$767,129	$694,500
Total estimated amount of other compensation from the organization and related organizations	$115,535	$116,818
Total number of individuals who received more than $100,000 of reportable compensation from the organization	0	0
Total number of independent contractors who received more than $100,000 of compensation from the organization	0	0

	2010	2011	2012	2013
Statement of Revenue
Total revenue	$5,637,534	$6,602,483	$6,558,803	$6,470,700
Contributions, Gifts, Grants and Other Similar Amounts	$0	$0	$0	$0
Program Service Revenue	$5,037,961	$6,347,658	$6,165,022	$5,992,356
900099			$4,700,898	$4,622,241
900099			$1,464,124	$1,370,115
All other program service revenue			$0	$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$599,573	$254,825	$252,206	$246,855
Income from investment of tax-exempt bond proceeds	$0	$0	$0	$0
Royalties	$0	$0	$0	$0
Net rental income	$0	$0	$141,575	$144,200
Gross rents (Real / Personal)	$0 / $0	$0 / $0	$141,575 / $0	$144,200 / $0
Less: rental expenses (Real / Personal)	$0 / $0	$0 / $0	$0 / $0	$0 / $0
Rental income or (loss) (Real / Personal)	$0 / $0	$0 / $0	$141,575 / $0	$144,200 / $0
Net gain/loss from sales of assets other than inventory	$0	$0	$0	$0
Net income/loss from fundraising events	$0	$0	$0	$0
Net income/loss from gaming activities	$0	$0	$0	$0
Net income/loss from sales of inventory	$0	$0	$0	$0
Miscellaneous Revenue	$0	$0	$0	$87,289
900099			$0	$87,289
All other revenue			$0	$0

	2010	2011	2012	2013
Statement of Functional Expenses
Total functional expenses	$4,607,742	$6,553,853	$6,870,963	$5,954,524
Grants and other assistance to domestic organizations and domestic governments			$0	$0
Grants and other assistance to domestic individuals			$0	$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals			$0	$0
Benefits paid to or for members			$0	$0
Compensation of current officers, directors, trustees, and key employees	$0	$0	$0	$0
Compensation not included above, to disqualified persons			$0	$0
Other salaries and wages	$85,185	$81,167	$0	$0
Pension plan accruals and contributions			$0	$0
Other employee benefits			$0	$0
Payroll taxes	$0	$0	$0	$0
Fees for services (non-employees)
Management			$0	$0
Legal			$88,420	$62,702
Accounting			$0	$0
Lobbying			$0	$0
Professional fundraising services	$0	$0	$0	$0
Investment management fees			$0	$0
Other			$0	$0
Advertising and promotion			$0	$0
Office expenses			$0	$0
Information technology			$0	$0
Royalties			$0	$0
Occupancy			$0	$0
Travel			$0	$0
Payments of travel or entertainment expenses for any federal, state, or local public officials			$0	$0
Conferences, conventions, and meetings			$0	$0
Interest			$4,633,229	$4,433,844
Payments to affiliates			$0	$0
Depreciation, depletion, and amortization			$0	$0
Insurance			$0	$0
Other expenses			$743,256	$660,221
Other expenses			$650,412	$659,558
Other expenses			$562,373	$106,887
Other expenses			$105,159	$31,312

	2010	2011	2012	2013
Balance Sheet
Total assets	$120,527,565	$119,342,619	$117,038,291	$113,504,642
Cash - non-interest-bearing			$1,232,195	$1,570,061
Savings and temporary cash investments			$9,264,263	$9,412,841
Pledges and grants receivable, net			$0	$0
Accounts receivable, net			$0	$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees			$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations			$0	$0
Notes and loans receivable, net			$0	$0
Inventories for sale or use			$0	$0
Prepaid expenses and deferred charges			$2,328	$2,321
Land, buildings, and equipment: cost or other basis			$2,780,148	$2,784,948
Investments - publicly traded securities			$0	$0
Investments - other securities			$0	$0
Investments - program-related			$0	$0
Intangible assets			$0	$0
Other assets			$103,759,357	$99,734,471
Total liabilities	$96,882,361	$95,648,785	$93,656,617	$92,072,019
Accounts payable and accrued expenses			$630,432	$586,127
Grants payable			$0	$0
Deferred revenue			$589,509	$555,434
Tax-exempt bond liabilities	$93,778,603	$92,674,286	$91,499,904	$90,270,524
Escrow or custodial account liability			$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons			$0	$0
Secured mortgages and notes payable to unrelated third parties	$1,940,804	$1,656,301	$926,214	$649,376
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)			$10,558	$10,558
Total net assets or fund balances	$23,645,204	$23,693,834	$23,381,674	$21,432,623
Unrestricted net assets			$0	$0
Temporarily restricted net assets			$0	$0
Permanently restricted net assets			$0	$0
Capital stock or trust principal, or current funds			$0	$0
Paid-in or capital surplus, or land, building, or equipment fund			$0	$0
Retained earnings, endowment, accumulated income, or other funds	$23,645,204	$23,693,834	$23,381,674	$21,432,623

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Number of organizations supported	1
Sum of amounts of support	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Youth Educational Services Inc	2321 Main St, Tucker, GA 30084-4471	GA	2000-06	$2,003,752
2	White County Homework Centers Inc	PO BOX 2959, Cleveland, GA 30528-0052	GA	1999-02	$349,609
3	Lives Without Limits Inc	PO BOX 1652, Thomasville, GA 31799-1652	GA	2013-05	$206,405
4	Wesleyan Wolf Trackers Inc	5405 Spalding Dr, Norcross, GA 30092-2614	GA	2000-03	$182,790
5	Rowell Foster Children Fund Inc	1551 Dodson Dr Sw, Atlanta, GA 30311-3725	GA	1996-06	$113,771
6	Phi Sigma Lambda Inc	PO BOX 49606, Athens, GA 30604-9606	GA	2012-02	$80,334
7	U Hope Cdc Inc	110 Hope Road, Atlanta, GA 30350	GA	2008-04	$79,121
8	Science Zone Corporation	27 Winter Ln, Ringgold, GA 30736-3257	GA	2010-03	$71,861
9	Vault Education Ctr Inc	Po Box 1691, Monroe, GA 30655	GA	2013-11	$62,965
10	Georgia Association Of Special Programs Inc	830 Westview Drive Sw Room Ste 134, Atlanta, GA 30314-3773	GA	1983-04	$62,813
11	Transportation Education Foundationof Georgia	PO BOX 541, White, GA 30184-0541	GA	2010-02	$52,110
12	New Day Gables Academy Incorporated	811 Gordon St, Stone Mtn, GA 30083-3533	GA	2011-01	$37,007
13	Georgia Educational Resources Incorporated	410 Veterans Memorial Highway Sw, Mableton, GA 30126-3320	GA	2014-02	$27,389
14	Saint Laurence Education Inc	3873 Parkcrest Dr Ne, Atlanta, GA 30319-1601	GA	2003-12	$21,284
15	Atlanta Homeschool Cooperative Inc	Po Box 160226, Atlanta, GA 30316	GA	2012-12	$14,838
16	Atlprojects	3988 Ambrose Way, Ellenwood, GA 30294	GA	2011-11	$5,000
17	United Star Distance Learning Consortium, Star Net	PO BOX 249, Flowery Br, GA 30542-0005	GA	1998-04	$5,000
18	Harvard Club Of Savannah & Coastal Georgia Inc	PO BOX 8862, Savannah, GA 31412-8862	GA	2014-04	$4,643
19	Community Catalyst Corporation	Po Box 616, Kingston, GA 30145-0616	GA	2003-02	$2,000
20	Worthys Restoring All Students Hopes Parent Support Group Inc	3011 West County Line Road, Lithia Springs, GA 30122	GA	2014-05	$1,700

Number of organizations performing similar types of work

Alaska	4
Alabama	44
Arkansas	18
Arizona	44
California	358
Colorado	52
Connecticut	46
District of Columbia	29
Delaware	21
Florida	143
Georgia	124
Hawaii	17
Iowa	22
Idaho	11
Illinois	90
Indiana	58
Kansas	26
Kentucky	31
Louisiana	43
Massachusetts	82
Maryland	77
Maine	13
Michigan	95
Minnesota	60
Missouri	50
Mississippi	23

Montana	12
North Carolina	88
North Dakota	4
Nebraska	16
New Hampshire	11
New Jersey	83
New Mexico	21
Nevada	25
New York	181
Ohio	85
Oklahoma	30
Oregon	31
Pennsylvania	101
Rhode Island	14
South Carolina	39
South Dakota	7
Tennessee	50
Texas	232
Utah	13
Virginia	80
Vermont	14
Washington	63
Wisconsin	47
West Virginia	10
Wyoming	8
International	5

Total

2,851

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