Nonprofit · EIN 23-7032763
ALBANY STATE UNIVERSITY FOUNDATION INC
Tax-exempt · ALBANY, GA 31705
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,933,675 | $3,037,524 | $896,151 | $11,561,234 | $287,979 | $11,273,255 |
| June 30, 2024 | 990 | $1,997,259 | $907,416 | $1,089,843 | $10,178,685 | $15,033 | $10,163,652 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,316,949
- Program service revenue
- $0
- Investment income
- $604,376
- Net gain from sales of assets
- $293,342
- Other revenue
- $12,350
Expenses
- Grants and similar amounts paid
- $2,611,532
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $20,128
- Accounting fees
- $54,618
- Occupancy
- $2,408
- Travel
- $4,338
- Program services (functional)
- $2,878,942
- Management and general (functional)
- $145,974
- Fundraising (functional)
- $12,608
Balance sheet and other
- Total assets, start of year
- $10,178,685
- Total assets, end of year
- $11,561,234
- Total liabilities, end of year
- $287,979
- Net assets, end of year
- $11,273,255
- Publicly traded securities
- $5,525,918
- Net assets without donor restrictions
- $3,113,910
- Net assets with donor restrictions
- $8,159,345
- Gross receipts
- $3,933,675
- Employees
- 0
- Volunteers
- 12
- Year formed
- 1969
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Marion Federick | President of ASU, outgoing Trustee or director | 1 | $0 | $182,068 | $53,448 |
| Valerie Melton | Executive Director Officer | 1 | $0 | $168,500 | $35,300 |
| Lawrence Drake III | Interim President of ASU Trustee or director | 1 | $0 | $164,233 | $26,670 |
| Bruce Melton | Secretary Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| Gregory Hylick | Chairman Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| Rachelle Scott | Vice Chairman Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| TaKeshia Thomas | Treasurer Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| Daniel Simmons | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Graham Edwards | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Maria Boynton | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Mark Johnson | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Marvin Laster | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Robert Scott | President of ASU, incoming Trustee or director | 1 | $0 | $0 | $0 |
| Vinson Davis | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
| Virgil Adams | Board Member Trustee or director | 0.5 | $0 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Virginia Harris | Board Member Trustee or director | 0.5 | $0 |
990 for the year ended June 30, 2024: 16 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Marion Fedrick | President of ASU Trustee or director | 1 | $0 | $324,124 | $0 |
| Valerie Melton | Executive Director Trustee or director, Officer | 20 | $0 | $168,000 | $34,835 |
| Stan Brown | Chief Financial Officer Officer | 40 | $0 | $64,582 | $27,457 |
| Gregory Hylick | Chair Trustee or director, Officer | 0 | $0 | $0 | $0 |
| Rachelle Scott | Vice Chair Trustee or director, Officer | 0 | $0 | $0 | $0 |
| TaKeshia Thomas | Treasurer Trustee or director, Officer | 0 | $0 | $0 | $0 |
| Bruce Melton | Secretary Trustee or director, Officer | 0 | $0 | $0 | $0 |
| Graham Edwards | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Daniel Simmons | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Carolyn Jernigan-Glenn | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Virginia Harris | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Marvin Laster | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Virgil Adams | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Vinson Davis | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Maria Boynton | Board Member Trustee or director | 0 | $0 | $0 | $0 |
| Mark Johnson | Board Member Trustee or director | 0 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 504 COLLEGE DR, ALBANY, GA 31705-2717
- Principal officer (990 for 2024)
- Gregory Hylick, 504 College Drive, Albany, GA 31705
- Signed the 990
- Gregory Hylick, Board Chair
- Phone
- (229) 500-3289
- Return prepared by
- Mauldin & Jenkins LLC
Mission
The Albany State University Foundation, Inc. enhances the academic vision and priorities of ASU through its organized fundraising activities and funds management. The Foundation, a non-profit corporation, is governed by an elected Board of Trustees, whose members serve as advocates for the University and its colleges, schools and programs. Private support funds scholarships, eminent scholar chairs, professorships and the innovative programs that distinguish ASU as an exceptional institution. We know it is our generous donors who will sustain our tradition of academic excellence.
Program accomplishments
- Received and managed funds provided to Albany State University to be used for financial assistance to qualified university students.Expenses $2,878,942 · grants $2,611,532
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7032763
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1969
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W00F)
- Assets (IRS master file)
- $11,561,234
- Income (IRS master file)
- $3,933,675
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $3,933,675 | $3,037,524 | $11,561,234 | IRS |
| 990 | June 2024 | $1,997,259 | $907,416 | $10,178,685 | IRS |
| 990 | June 2023 | $1,600,152 | $1,304,892 | $8,733,142 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7032763).
Questions about ALBANY STATE UNIVERSITY FOUNDATION INC
- What is the EIN of ALBANY STATE UNIVERSITY FOUNDATION INC?
- The employer identification number (EIN) of ALBANY STATE UNIVERSITY FOUNDATION INC is 23-7032763.
- Is ALBANY STATE UNIVERSITY FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1969.
- Are donations to ALBANY STATE UNIVERSITY FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ALBANY STATE UNIVERSITY FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ALBANY STATE UNIVERSITY FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ALBANY STATE UNIVERSITY FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ALBANY STATE UNIVERSITY FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names Gregory Hylick.
- Who are the officers and directors of ALBANY STATE UNIVERSITY FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 16 people; 0 received compensation from the organization.
- How much revenue does ALBANY STATE UNIVERSITY FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,933,675, expenses of $3,037,524 and total assets of $11,561,234 at year end.
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