2024-05-13T08:44:09-05:00 2023-06-30 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 1600 ATLANTA GA 30363 990 2022-07-01 582538285 GEORGIA ADVANCED TECHNOLOGY VENTURES INC % HOLLY SEEL GEOR 4048948148 225 NORTH AVENUELYMAN HALL STE 325 ATLANTA GA 30332 HOLLY SEEL ASSISTANT TREASURER 4048948148 2024-05-15 true HOLLY SEEL 999009999 MARC A AZAR P91739349 4048746244 2024-05-15 2 2022 2023-04-26 12:10:37Z HOLLY SEEL 225 NORTH AVE LYMAN HALL 325 ATLANTA GA 30332 31669077 false X www.gatv.gatech.edu X 2000 GA The corporation supports the georgia institute of technology to foster and support economic development and scientific research in the state of georgia. 8 6 0 0 0 99167 22919 33745273 24205352 53126 85048 911950 7355758 34809516 31669077 2674862 1103391 0 0 0 0 0 0 0 18869054 20129019 21543916 21232410 13265600 10436667 234129719 241918056 154632814 157898128 79496905 84019928 X THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY AS A SUPPORTING ORGANIZATION TO AND FOR THE BENEFIT OF THE GEORGIA INSTITUTE OF TECHNOLOGY TO FOSTER AND SUPPORT EDUCATION AND SCIENTIFIC RESEARCH AND ECONOMIC DEVELOPMENT THROUGHOUT THE STATE OF GEORGIA BY PROMOTING THE STATE OF GEORGIA FOR THE DEVELOPMENT OF NEW HIGH TECHNOLOGY RESEARCH AND INDUSTRY WITHIN THE STATE OF GEORGIA. false false 20345930 1103391 31561110 Georgia Advanced Technology Ventures, Inc. provided support for technology transfer, commercialization, economic development, and relevant real estate development for the Georgia Institute of Technology, including the Advanced Technology Development Center (ATDC) incubator facilities. 20345930 true true false false false false false false false false true false true true true true false true false false false false false false false false false true false true true false false false false false false false true false false false false false false true true false true false true 23 0 true 0 false false false false false false false false false false false false X 8 6 false false false false false true false true true false false true true true true true true false false true true GA X HOLLY SEEL 4048948148 221 UNCLE HEINIE WAY LYMAN HALL ATLANTA GA 30332 X STEVEN MCLAUGHLIN DIRECTOR 1.0 39.0 X 0 568353 56819 Chaouki Abdallah Director 1.0 39.0 X 0 417734 89177 KELLY FOX DIRECTOR 1.0 39.0 X 0 379885 46547 James G Fortner Treasurer 4.0 36.0 X 0 284882 85775 Anthony Zivalich Vice President - REAL ESTATE 4.0 36.0 X 0 267367 76086 MICHAEL SHANNON Director through 06/2023 1.0 39.0 X 0 272729 54984 DAVID BRIDGES VICE PRESIDENT - INNOVATION 4.0 36.0 X 0 272068 53510 JENNIFER HUBERT Assistant Treasurer 4.0 36.0 X 0 215271 62006 Amy E Herron Former Officer 0.0 0.0 X 0 188390 70321 Tanesha Steward Secretary 4.0 36.0 X 0 130292 42309 GAIL SPATT FORMER OFFICER 0.0 0.0 X 0 106647 63737 STEPHEN CROSS FORMER OFFICER 0.0 0.0 X 0 158423 0 KELLY MACARTHUR FORMER OFFICER 0.0 40.0 X 0 112135 36754 CORTRELLA GREER ASSISTANT SECRETARY 4.0 36.0 X 0 73520 22588 HOLLY SEEL Assistant Treasurer 4.0 36.0 X 0 38684 10401 Sig Mosley Chairman 1.0 0.0 X 0 0 0 Ben T Raney II Director 1.0 0.0 X 0 0 0 Blake Patton Director 1.0 0.0 X 0 0 0 BURUNDA PRINCE DIRECTOR 1.0 0.0 X 0 0 0 JOHN LONG DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL ROSS DIRECTOR 1.0 0.0 X 0 0 0 0 3486380 771014 0 true true false CA SOUTH 800 BATTERY AVE SE SUITE 420 ATLANTA GA 30339 CONSTRUCTION 904522 CONTINUUM LEGAL GROUP LLP 227 SANDY SPRINGS PLACE SUITE D-355 ATLANTA GA 30328 LEGAL 469053 CRABAPPLE ROOFING CONTRACTOR LLC 3440 OAKCLIFF RD SUITE 100 DORAVILLE GA 30340 CONSTRUCTION 772485 NEW SOUTH CONSTRUCTION COMPANY LLC 1180 WEST PEACHTREE STREET SUITE 70 ATLANTA GA 30309 CONSTRUCTION 438727 CORNERSTONE CONTRACTING GROUP INC 889 FRANKLIN GATEWAY SUITE 180 MARIETTA GA 30067 CONSTRUCTION 176994 8 22919 22919 RENTAL INCOME 531120 22489406 22489406 PROGRAM EXPENSE REIMBURSEMENT 541610 703338 703338 DEVELOPMENT FEES 541610 934906 934906 MEMBERSHIP FEES 541610 77702 77702 24205352 85048 85048 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CONSULTING REVENUE 900099 5884760 5884760 PROPERTY TAX CREDIT REVENUE 900099 1108703 1108703 MISC INCOME 900099 362295 362295 7355758 31669077 31561110 85048 1103391 1103391 0 0 0 0 0 0 0 0 0 0 157957 157957 218874 218874 0 0 0 52296 52296 13298 13298 10060 10060 0 0 5016518 5016518 0 0 0 4565832 4565832 0 3136534 3136534 245670 245670 MANAGEMENT EXPENSES 4664273 3830668 833605 REPAIRS & MAINTENANCE 1620488 1620488 GATV MEMBERSHIPS 172176 172176 BROKER FEES 92450 92450 162593 109718 52875 21232410 20345930 886480 0 0 0 18083923 24925478 524446 497365 20063 183302 0 0 0 0 0 0 0 0 8005 46727 129937454 41279124 86513485 88658330 0 0 0 0 98781009 92100126 0 0 30198788 35506728 234129719 241918056 1352529 1578771 0 0 13145489 13814231 45395000 45395000 0 0 0 0 47672935 45086398 0 0 47066861 52023728 154632814 157898128 X 79337985 83884346 158920 135582 79496905 84019928 234129719 241918056 X 10436667 -13644 -5900000 X false true X true false X X 1 GEORGIA INSTITUTE OF TECHNOLOGY 586002023 6 true 21232410 0 1 21232410 true false false false false true false false false false false false false false false true false Sch A, Part IV, Line 6 The Organization provided support to the Georgia Tech Foundation, Inc., which is an affiliated organization of the Georgia Institute of Technology. The Foundation supports Georgia Tech's role as a leading educational and research institution. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15218380 15218380 113671678 40231728 73439950 1047396 1047396 0 88658330 DIRECT FINANCING LEASES 92100126 C 92100126 DEPOSITS 507694 OPERATING LEASE - RIGHT TO USE 34999034 35506728 0 TENANT DEPOSIT 309259 BOND ISSUANCE PREMIUM 4046387 TAXABLE BONDS PAYABLE 7005000 OPERATING LEASE - RIGHT TO USE 39248914 FUNDS HELD FOR OTHERS 1414168 52023728 X 31655433 -13644 -13644 31669077 31669077 21232410 21232410 21232410 ASC 740 GATV is a not-for-profit corporation and is exempt from income taxes under Section 501(a) as an organization described in Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income taxes are reflected in the accompanying consolidated financial statements. The consolidated subsidiaries are organized as single-member limited liability companies (LLC's) and are not liable for income taxes on their taxable income. Instead, GATV, as the sole-member, is liable for income taxes, if any, on the LLC's taxable income. The Organization's consolidated financial statements do not include a provision or liability for income taxes. The Organization annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Organization takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. The Organization is no longer subject to tax examinations for tax years ending before June 30, 2020. true GEORGIA INSTITUTE OF TECHNOLOGY 225 NORTH AVENUE NW ATLANTA GA 30332 586002023 115 588684 COST support Georgia Tech Foundation 760 spring street nw suite 400 atlanta GA 30308 586043294 501(C)(3) 514707 cost support 2 procedures for monitoring use of grant funds Grants result from a deliberative planning process involving the Officers and board members of the Organization. Monitoring of the process Consists of periodic financial and operational review by officers and Board members. false true false false false false false false false Chaouki Abdallah Director 417734 59704 29473 506911 Anthony Zivalich Vice President - REAL ESTATE 267332 35 54416 21670 343453 James G Fortner Treasurer 284682 200 57960 27815 370657 Tanesha Steward Secretary 130292 26476 15833 172601 Amy E Herron Former Officer 184077 200 4113 38894 31427 258711 KELLY FOX DIRECTOR 372998 6887 26694 19853 426432 DAVID BRIDGES VICE PRESIDENT - INNOVATION 272058 10 25809 27701 325578 STEVEN MCLAUGHLIN DIRECTOR 483353 85000 28182 28637 625172 GAIL SPATT FORMER OFFICER 106149 45 453 23999 39738 170384 STEPHEN CROSS FORMER OFFICER 158423 158423 158423 KELLY MACARTHUR FORMER OFFICER 111529 135 471 23030 13724 148889 JENNIFER HUBERT Assistant Treasurer 214414 10 847 43588 18418 277277 MICHAEL SHANNON Director through 06/2023 268620 4109 53749 1235 327713 SCH. J, LINE 4B Kelly Fox, Former Director of the Organization, participated in a non-qualified supplemental retirement plan structured under IRS Section 415(m). No contributions were made to the plan in calendar year 2022. A DEVELOPMENT AUTHORITY OF COBB COUNTY 521442239 190806EE5 2017-12-06 51211128 PURCHASE & IMPROVE GT COBB RESEARC false false false A 0 0 51849068 0 0 0 211128 0 0 51637732 0 208 2020 false false false true A false false false true true 0.00000 0.00000 0.00000 false false false true A false false false true false false 0 false 0 false true A true Schedule K Part IV Line 2C DATE OF ISSUE OF 2017 BONDS IS DECEMBER 6. 2017. THESE BONDS FUNDED THE PURCHASE & IMPROVEMENT OF GEORGIA TECH COBB RESEARCH CAMPUS. THE DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS EQUALS $637,941 FOR INTEREST EARNED ON COST OF ISSUANCE FUND. The rebate computation was performed on 12/01/2022. Tech Square Ventures Tech Square Ventures/GATV Director 93786 RENT PAID TO GATV false Cyrano Systems Cyrano Systems/GATV Director 13710 RENT PAID TO GATV false Verady Verady/GATV Director 20461 RENT PAID TO GATV false Gauge Insights Gauge Insights/GATV Director 3730 RENT PAID TO GATV false SPEEDSCALE SPEEDSCALE/GATV DIRECTOR 28566 RENT PAID TO GATV false Cloverly Cloverly/GATV Director 48678 RENT PAID TO GATV false KIM TECHNOLOGIES KIM TECHNOLOGIES/DIRECTOR 30962 RENT PAID TO GATV false WRIPPLE WRIPPLE/DIRECTOR 31112 RENT PAID TO GATV false part vi, question 7 THE PRESIDENT OF THE GEORGIA INSTITUTE OF TECHNOLOGY APPOINTS THE BOARD OF GEORGIA ADVANCED TECHNOLOGY VENTURES. part vi, question 11 AN OFFICER OF GEORGIA ADVANCED TECHNOLOGY VENTURES, INC. EMAILS A DRAFT OF THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. IF THE REVIEW RESULTS IN ANY CHANGES, THE REVISED FORM 990 IS DISTRIBUTED TO THE BOARD PRIOR TO FILING. PART VI, QUESTION 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO EACH MEMBER OF THE BOARD OF DIRECTORS, TO ALL OFFICERS OF THE ORGANIZATION, TO ALL MEMBERS OF THE BOARD OF MANAGERS AND OFFICERS OF ANY LIMITED LIABILITY COMPANY FORMED BY THE ORGANIZATION. THE ORGANIZATION HAS NO EMPLOYEES, BUT THE CONFLICT OF INTEREST POLICY IS INTENDED TO SERVE AS GUIDANCE FOR ALL PERSONS EMPLOYED BY THE GEORGIA INSTITUTE OF TECHNOLOGY IN POSITIONS OF SIGNIFICANT RESPONSIBILITY FOR THE ACTIVITIES OF THE ORGANIZATION. THE CONFLICT OF INTEREST POLICY REQUIRES EACH DIRECTOR AND OFFICER ANNUALLY (1) TO REVIEW THE POLICY AND (2) TO DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL, OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST INVOLVING THE ORGANIZATION OR THE GEORGIA INSTITUTE OF TECHNOLOGY; AND (3) TO ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE IS IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THE POLICY. DISCLOSURE FORMS ARE DISTRIBUTED AND COLLECTED BY THE SECRETARY OF THE ORGANIZATION WHO PROVIDES ANY POSITIVE RESPONSES TO THE AUDIT COMMITTEE OR THE BOARD OF DIRECTORS IN EXECUTIVE SESSION AS APPROPRIATE. DIRECTORS AND OFFICERS ARE REQUESTED TO DISCLOSE SUBSTANTIVE RELATIONSHIPS THAT THEY OR MEMBERS OF THEIR FAMILY MAINTAIN WITH ORGANIZATIONS THAT DO BUSINESS WITH THE ORGANIZATION, THE GEORGIA INSTITUTE OF TECHNOLOGY, OR ANY RELATED OR AFFILIATED ORGANIZATION, OR WHICH OTHERWISE COULD BE CONSTRUED TO POTENTIALLY AFFECT THEIR INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF THEIR DECISION-MAKING AUTHORITY OR RESPONSIBILITY. DIRECTORS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS UNLESS FOR SPECIAL REASONS THE BOARD REQUESTS INFORMATION OR INTERPRETATION. PERSONS WITH THE CONFLICTS DO NOT VOTE, PARTICIPATE IN DISCUSSION, OR BE PRESENT AT THE TIME OF THE VOTE. ANY PROPOSED TRANSACTION IN WHICH A CONFLICT OF INTEREST HAS BEEN DECLARED OR FOUND TO EXIST MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR THE APPROPRIATE COMMITTEE OF THE BOARD AFTER DISCLOSURE OF THE CONFLICT OF INTEREST. PART VI, QUESTION 15 THE ORGANIZATION HAS NO FULL-TIME EMPLOYEES. KEY PERSONNEL IN SUPPORT OF THE ORGANIZATION ARE GEORGIA INSTITUTE OF TECHNOLOGY EMPLOYEES AND ARE SUBJECT TO THE COMPENSATION GUIDELINES OF THE BOARD OF REGENTS. PART VI, QUESTION 19 GATV'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE FINANCIAL SERVICES PAGE OF THE GEORGIA INSTITUTE OF TECHNOLOGY'S WEBSITE. GATV'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. PART XI, LINE 8 During 2023, management noted an adjustment that was needed to the 2022 financial statements related to a lease associated with the Science Square Ground Lease. After further review of the lease agreement, the rent receivable amounts were misinterpreted, causing the lease to be overvalued by approximately $5,900,000 as of June 30, 2022. 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