Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE UNIVERSITY FINANCING FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)1800 PARKWAY PL 230
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MARIETTA, GA30067
A Employer identification number

58-1505902
B Telephone number (see instructions)

(404) 214-9440
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$745,997,091J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 527 66,198 73,198
4 Dividends and interest from securities... 1,814,733 1,845,254 1,845,254
5a Gross rents............ 16,475,046 16,475,046 16,475,046
b Net rental income or (loss) -1,059,550
6a Net gain or (loss) from sale of assets not on line 10 6,634,107
b Gross sales price for all assets on line 6a 39,871,390
7 Capital gain net income (from Part IV, line 2)... 8,733,990
8 Net short-term capital gain......... 794,485
9 Income modifications........... 297,431
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 24,336,264 19,665,491 24,520,972
12 Total. Add lines 1 through 11........ 49,260,677 46,785,979 44,006,386
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,200,985 680,247 680,247 2,520,738
14 Other employee salaries and wages...... 488,179 488,179 488,179 0
15 Pension plans, employee benefits....... 1,074,260 271,090 271,090 803,170
16a Legal fees (attach schedule)......... Click to see attachment 650,572 495,173 580,886 69,686
b Accounting fees (attach schedule)....... Click to see attachment 277,038 137,242 138,519 138,519
c Other professional fees (attach schedule).... Click to see attachment 4,723,710 4,009,933 4,308,130 415,580
17 Interest............... 20,568,261 20,497,035 20,639,487 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 172,088 159,638 159,645 12,450
19 Depreciation (attach schedule) and depletion... 3,545,359 3,545,359 3,545,359
20 Occupancy.............. 5,755,748 5,488,322 5,488,322 267,426
21 Travel, conferences, and meetings....... 103,092 0 69,621 33,471
22 Printing and publications.......... 607 0 0 607
23 Other expenses (attach schedule)....... Click to see attachment 4,997,891 4,307,656 4,448,473 1,393,064
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 45,557,790 40,079,874 40,817,958 5,654,711
25 Contributions, gifts, grants paid....... 204,003 313,972
26 Total expenses and disbursements. Add lines 24 and 25 45,761,793 40,079,874 40,817,958 5,968,683
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,498,884
b Net investment income (if negative, enter -0-) 6,706,105
c Adjusted net income (if negative, enter -0-)... 3,188,428
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 99,770,710 90,189,247 90,189,247
3 Accounts receivable bullet916,397
Less: allowance for doubtful accounts bullet   606,333 916,397 916,397
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 1,553,379 1,641,286 1,641,286
10a Investments—U.S. and state government obligations (attach schedule) 9,519,030 Click to see attachment4,445,021 4,445,021
b Investments—corporate stock (attach schedule)....... 43,772,213 Click to see attachment65,332,139 65,332,139
c Investments—corporate bonds (attach schedule)....... 12,696,579 Click to see attachment7,888,788 7,888,788
11 Investments—land, buildings, and equipment: basis bullet3,702,123
Less: accumulated depreciation (attach schedule) bullet1,876,609 2,002,274 Click to see attachment1,825,514 1,825,514
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 17,750,123 Click to see attachment53,932,654 53,932,654
14 Land, buildings, and equipment: basis bullet354,739,688
Less: accumulated depreciation (attach schedule) bullet64,372,468 293,631,017 Click to see attachment290,367,220 290,367,220
15 Other assets (describe bullet) Click to see attachment239,929,982 Click to see attachment229,458,825 Click to see attachment229,458,825
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 721,231,640 745,997,091 745,997,091
Liabilities 17 Accounts payable and accrued expenses.......... 15,036,100 10,677,477
18 Grants payable................. 386,800 251,800
19 Deferred revenue................. 14,867,471 16,513,887
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment581,681,628 Click to see attachment601,303,676
23 Total liabilities (add lines 17 through 22)......... 611,971,999 628,746,840
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 109,259,641 117,250,251
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 109,259,641 117,250,251
30 Total liabilities and net assets/fund balances (see instructions). 721,231,640 745,997,091
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
109,259,641
2
Enter amount from Part I, line 27a .....................
2
3,498,884
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
4,491,726
4
Add lines 1, 2, and 3 ..........................
4
117,250,251
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
117,250,251
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a ST - EUCLIDEAN FUND I, L.P. P   2021-12-31
b LT - EUCLIDEAN FUND I, L.P. P   2021-12-31
c ST - CARLYLE DIRECT ALTERNATIVE OPPORTUNITIES P   2021-12-31
d ST - AP ENERGY INFRASTRUCTURE FUND P   2021-12-31
e LT - AP ENERGY INFRASTRUCTURE FUND P   2021-12-31
GAIN ON SALE-TYPE LEASES P   2021-12-31
REALIZED GAIN/LOSS ON SALE OF INVESTMENTS P   2021-12-31
ST - PUBLICLY TRADED STOCK     2021-12-31
LT - PUBLICLY TRADED STOCK     2021-12-31
RETIREMENT OF DEBT P   2021-12-31
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,568     6,568
b 1,156,097     1,156,097
c 9,733     9,733
d 16,220     16,220
e     1,991 -1,991
3,229,376     3,229,376
3,396,674   3,396,674 0
2,829,995   2,068,031 761,964
7,693,129   4,145,163 3,547,966
21,533,598   21,525,541 8,057
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       6,568
b       1,156,097
c       9,733
d       16,220
e       -1,991
      3,229,376
      0
      761,964
      3,547,966
      8,057
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 8,733,990
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 794,485
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter: 1989-05-09(attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3  
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 0
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet   RefundedBullet 11  
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletGA, MA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
    Yes
     
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.TUFF.ORG
    14
    The books are in care ofbulletKEVIN T BYRNE Telephone no.bullet (404) 214-9440

    Located atbullet1800 PARKWAY PLACE SUITE 230MARIETTAGA ZIP+4bullet30067
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
    Yes
     
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
    Yes
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
    Yes
     
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    THOMAS H HALL III DIRECTOR, ASSISTANT SECRETARY
    5.50     		81,748 42,400 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    THOMAS H HALL III DIRECTOR, CONSULTANT
    5.50     		169,800 0 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    THOMAS W VENTULETT III DIRECTOR, SECRETARY
    5.50     		80,700 42,642 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    DAVID M MCKENNEY DIRECTOR, TREASURER, AND ASST. SEC.
    5.50     		82,450 38,400 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    AJ ROBINSON DIRECTOR
    5.50     		79,500 47,400 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    KEVIN T BYRNE PRES, CEO, COO, ASST TREAS, ASST SEC
    40.00     		995,000 185,088 15,600
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    LISA A BEALL CONTROLLER, ASST TREAS
    40.00     		222,500 85,087 0
    1800 PARKWAY PLACE SUITE 230
    MARIETTA,GA30067
    VICTOR R CLEMENTS SENIOR VICE PRESIDENT - ADMINISTRATION
    40.00     		395,000 103,820 9,600
    1800 PARKWAY PLACE SUITE 230
    MARIETTA,GA30067
    JORDAN PETERSON VICE PRESIDENT - REAL ESTATE
    40.00     		320,000 107,820 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    ANNE M TOMSKY ASSISTANT VICE PRESIDENT
    40.00     		155,469 55,658 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    ZACH DAY DIRECTOR OF MARKETIN
    40.00     		114,149 35,158 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    TERRI KEMP PROJECT ACCOUNTANT
    40.00     		98,780 36,484 0
    1800 PARKWAY PLACE SUITE 230
    MARIETTA,GA30067
    SHERRY BILLINGS OFFICE MGR & EXEC AS
    40.00     		85,267 31,796 0
    1800 PARKWAY PLACE SUITE 230
    MARIETTA,GA30067
    CHRISTOPHER COMBS FINANCIAL ANALYST
    40.00     		86,810 26,738 0
    75 FIFTH ST SUITE 1050
    ATLANTA,GA30308
    KELLY BILLINGS DIRECTOR OF COMMUNIC
    40.00     		81,300 27,954 0
    1800 PARKWAY PLACE SUITE 230
    MARIETTA,GA30067
    Total number of other employees paid over $50,000...................bullet 3
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    ENNEAD ARCHITECTS LLP ARCHITECTURAL SERVICES 1,281,895
    1 WORLD TRADE CENTER 40TH FLOOR
    NEW YORK,NY10007
    COLLABORATIVE REAL ESTATE LLC PROPERTY & ASSET MANAGEMENT 1,124,849
    75 FIFTH STREET NW SUITE 810
    ATLANTA,GA30308
    LEHRER CUMMING PROPERTY DEVELOPMENT ADVISORY SERVICES 469,557
    900 THIRD AVENUE 6TH FLOOR
    NEW YORK,NY10022
    BLUE SKY PROPERTY MANAGEMENT LLC PROPERTY & ASSET MANAGEMENT 445,487
    130 EAST 59TH STREET 14TH FLOOR
    NEW YORK,NY10022
    WINDHAM BRANNON PC AUDIT SERVICES 227,973
    3630 PEACHTREE RD NE 600
    ATLANTA,GA30326
    Total number of others receiving over $50,000 for professional services.............bullet18
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 THE FOUNDATION FINANCES AND ACQUIRES CHARITABLE AND EDUCATIONAL FACILITIES AND EQUIPMENT FOR THE BENEFIT OF TAX-EXEMPT SCHOOLS, COLLEGES, AND UNIVERSITIES AND OTHER TAX-EXEMPT EDUCATIONAL AND RESEARCH ORGANIZATIONS; AND, CONSISTENT WITH ITS EXEMPT CHARITABLE PURPOSES AND FUNCTIONS, THE FOUNDATION MAKES THE FACILITIES AND EQUIPMENT AVAILABLE TO SUCH TAX-EXEMPT ORGANIZATIONS AT RENTAL OR INTEREST RATES BELOW COST OF MARKET RATES FOR COMPARABLE FACILITIES. 8,940,800
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 THE FOUNDATION FINANCES AND INVESTS IN PARTNERSHIPS THAT ACQUIRE AND OPERATE FACILITIES TO SUPPORT INSTITUTIONS OF EDUCATION AND RESEARCH. THE PARTNERSHIPS PROVIDE FACILITIES AND OTHER RELATED SUPPORT AT BELOW THE COST OF MARKET. 23,387,996
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet23,387,996
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    76,554,932
    b
    Average of monthly cash balances.......................
    1b
    15,905,009
    c
    Fair market value of all other assets (see instructions)................
    1c
    19,160,207
    d
    Total (add lines 1a, b, and c).........................
    1d
    111,620,148
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    111,620,148
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,674,302
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    109,945,846
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    5,497,292
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
     
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7  
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$  
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2021.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
    1989-05-09
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
    3,188,428 3,666,622 3,947,305 3,984,683 14,787,038
    b 85% (0.85) of line 2a ......... 2,710,164 3,116,629 3,355,209 3,386,981 12,568,982
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		29,454,340 67,796,469 44,378,235 255,709,853 397,338,897
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		313,972 6,404,626 253,270 86,600 7,058,468
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		29,140,368 61,391,843 44,124,965 255,623,253 390,280,429
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......         0
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		3,664,861 3,078,841 2,631,537 2,656,455 12,031,694
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    A WORD FROM THE LORD INC
    PO BOX 636
    MONROE,GA30655     		  PC GENERAL SUPPORT 250
    AMERICAN ANGLICAN COUNCIL
    PO BOX 2868
    LOGANVILLE,GA30052     		  PC GENERAL SUPPORT 2,000
    ASSOCIATION OF UNIVERSITY RESEARCH PARKS
    6262 N SWAN ROAD SUITE 100
    TUCSON,AZ85718     		  PC SPONSORSHIP 16,500
    BOY SCOUTS OF AMERICA COUNCIL - ATLANTA AREA COUNCIL BOY SCOUTS OF AMERICA
    1800 CIRCLE 75 PARKWAY SE
    ATLANTA,GA30339     		  PC SPONSORSHIP 2,500
    BREAKING GROUND HDFC
    505 8TH AVE 5TH FLOOR
    NEW YORK,NY10018     		  PC GENERAL SUPPORT 500
    CHEROKEE GARDEN LIBRARY
    PO BOX 117478
    ATLANTA,GA303687478     		  PC GENERAL SUPPORT 500
    CHILDRENS HEALTHCARE OF ATLANTA
    1575 NORTHEAST EXWY FL 5
    ATLANTA,GA30329     		  PC GENERAL SUPPORT 1,500
    CLARK CREEK ELEMENTARY PTA
    3219 HUNT RD
    ACWORTH,GA30102     		  PC GENERAL SUPPORT 300
    CLAYTON STATE UNIVERSITY FOUNDATION INC
    2000 CLAYTON STATE BLVD
    MORROW,GA30260     		  PC SPONSORSHIP 2,500
    E412 MINISTRIES INC
    11 BREEZY PALM WAY
    SAVANNAH,GA31406     		  PC GENERAL SUPPORT 300
    FOOD FOR THE POOR
    6401 LYONS RD
    COCONUT CREEK,FL33073     		  PC GENERAL SUPPORT 250
    FRIENDS OF THE GEORGIA ARCHIVES AND HISTORY INC
    P O BOX 711
    MORROW,GA302600711     		  PC GENERAL SUPPORT 1,000
    GEORGIA ADVANCED TECHNOLOGY VENTURES INC
    221 UNCLE HEINIE WAY
    ATLANTA,GA30332     		  PC GENERAL SUPPORT 75,000
    GEORGIA TECH FOUNDATION INC
    PO BOX 3963
    ATLANTA,GA30302     		  PC GENERAL SUPPORT 60,000
    HIGHLANDS BIOLOGICAL FOUNDATION INC
    PO BOX 580
    HIGHLANDS,NC28741     		  PC GENERAL SUPPORT 500
    HIGHLANDS CASHIERS HEALTH FOUNDATION INC
    PO BOX 742
    HIGHLANDS,NC28741     		  PC GENERAL SUPPORT 250
    INTERNATIONAL BUSINESS INNOVATION ASSOCIATION INC
    PO BOX 677279
    ORLANDO,FL32867     		  PC SPONSORSHIP 17,000
    LIFE CHALLENGE OF WESTERN NORTH CAROLINA
    PO BOX 2553
    CULLOWHEE,NC28723     		  PC GENERAL SUPPORT 500
    MAKE-A-WISH
    1702 EAST HIGHLAND AVE
    PHOENIX,AZ85016     		  PC GENERAL SUPPORT 500
    MERCY CARE FOUNDATION INC
    424 DECATUR ST
    ATLANTA,GA30312     		  PC GENERAL SUPPORT 100
    NORTH CAROLINA COMMUNITY FOUNDATION INC
    3737 GLENWOOD AVE SUITE 460
    RALEIGH,NC27612     		  PC GENERAL SUPPORT 2,000
    SHEPHERD CENTER FOUNDATION INC
    2020 PEACHTREE RD
    ATLANTA,GA30309     		  PC GENERAL SUPPORT 500
    SPELMAN COLLEGE
    350 SPELMAN LANE SW
    ATLANTA,GA30314     		  PC GENERAL SUPPORT 1,000
    ST CHRISTOPHER'S SCHOOL FOUNDATION
    711 ST CHRISTOPHERS RD
    RICHMOND,VA23226     		  PC GENERAL SUPPORT 500
    STATE SCIENCE AND TECH INSTITUTE
    5015 PINE CREEK DR
    WESTERVILLE,OH43081     		  PC SPONSORSHIP 5,000
    THE ALS ASSOCIATION OF GEORGIA
    5881 GLENRIDGE DR
    ATLANTA,GA30328     		  PC GENERAL SUPPORT 100
    CAMP OF COLORS INC
    106 PILGRIM VILLAGE DR SUITE 300
    CUMMING,GA30040     		  PC GENERAL SUPPORT 500
    COMMUNITY FOUNDATION FOR GREATER ATLANTA INC
    50 HURT PLAZA SUITE 449
    ATLANTA,GA30303     		  PC GENERAL SUPPORT 20,000
    THE HERITAGE FOUNDATION
    214 MASSACHUSETTS AVE NE
    WASHINGTON,DC20002     		  PC GENERAL SUPPORT 125
    THE HOPE CENTER
    295 MOLLY LANE SUITE 120
    WOODSTOCK,GA30189     		  PC GENERAL SUPPORT 412
    THE METROPOLITAN MUSEUM OF ART
    1000 5TH AVE
    NEW YORK,NY10028     		  PC GENERAL SUPPORT 210
    THE ROTARY CLUB OF NORTH ATLANTA FOUNDATION INC
    100 EDGEWOOD AVE
    ATLANTA,GA30303     		  PC GENERAL SUPPORT 10
    THE SALVATION ARMY OF METRO ATLANTA
    1000 CENTER PLACE
    NORCROSS,GA30093     		  PC GENERAL SUPPORT 750
    URBAN LAND INSTITUTE
    PO BOX 418168
    BOSTON,MA02241     		  PC SPONSORSHIP 1,125
    UNIVERSITY ECONOMIC DEVELOPMENT ASSOCIATION INC
    PO BOX 97930
    PITTSBURGH,PA15227     		  PC SPONSORSHIP 2,000
    UNIVERSITY SYSTEM OF GA FOUNDATION INC
    394 SOUTH MILLEDGE AVE
    ATHENS,GA30602     		  PC SPONSORSHIP 75,000
    VIRGINIA EPISCOPAL SCHOOL
    400 VIRGINIA EPISCOPAL SCHOOL RD
    LYNCHBURG,VA24503     		  PC GENERAL SUPPORT 500
    WARM WHISPERS MINISTRIES INC
    810 JACKSON ST
    LOCUST GROVE,GA30248     		  PC GENERAL SUPPORT 250
    WHITEFIELD ACADEMY INC
    ONE WHITEFIELD DR SE
    MABLETON,GA30126     		  PC GENERAL SUPPORT 10,000
    YOUNG LIFE ATLANTA PROJECT
    1874 PIEDMONT AVE NE 305C
    ATLANTA,GA30324     		  PC GENERAL SUPPORT 11,040
    YOUTH WITH A MISSION STRATEGIC FRONTIERS
    505 POPES BLUFF TRAIL
    COLORADO SPRINGS,CO80907     		  PC GENERAL SUPPORT 1,000
    Total .................................bullet 3a 313,972
    bApproved for future payment
    A WORD FROM THE LORD INC
    PO BOX 636
    MONROE,GA30655     		  PC GENERAL SUPPORT 250
    AMERICAN ANGLICAN COUNCIL
    PO BOX 2868
    LOGANVILLE,GA30052     		  PC GENERAL SUPPORT 1,500
    ASSOCIATION OF UNIVERSITY RESEARCH PARKS
    6262 N SWAN ROAD SUITE 100
    TUCSON,AZ85718     		  PC SPONSORSHIP 8,500
    CHEROKEE GARDEN LIBRARY
    130 WEST PACES FERRY ROAD NW
    ATLANTA,GA30305     		  PC GENERAL SUPPORT 500
    CHILDRENS HEALTHCARE OF ATLANTA
    1575 NORTHEAST EXWY FL 5
    ATLANTA,GA30329     		  PC GENERAL SUPPORT 1,000
    FOOD FOR THE POOR
    6401 LYONS RD
    COCONUT CREEK,FL33073     		  PC GENERAL SUPPORT 500
    GEORGIA TECH FOUNDATION INC
    760 SPRING STREET NW SUITE 400
    ATLANTA,GA30308     		  PC GENERAL SUPPORT 10,000
    HILLSDALE COLLEGE
    33 E COLLEGE ST
    HILLSDALE,MI49242     		  PC GENERAL SUPPORT 500
    METROPOLITAN ATLANTA CHAMBER OF COMMERCE INC
    235 ANDREW YOUNG INTERNATIONAL
    ATLANTA,GA30303     		  PC SPONSORSHIP 2,000
    PAGE ROBBINS ADULT DAY CENTER
    1961 SOUTH HOUSTON LEVEE RD
    COLLIERVILLE,TN38017     		  PC GENERAL SUPPORT 1,000
    SALEM MONTESSORI SCHOOL INCORPORATED
    529 SOUTH CHURCH ST
    WINSTON SALEM,NC27101     		  PC GENERAL SUPPORT 2,000
    SUMMIT SCHOOL INC
    2100 REYNOLDA RD
    WINSTON SALEM,NC27106     		  PC GENERAL SUPPORT 3,000
    THE GEORGE WASHINGTON UNIVERSITY
    1918 F STREET NW
    WASHINGTON,DC20052     		  PC GENERAL SUPPORT 1,000
    STEPHEN SILLER TUNNEL TO TOWERS FOUNDATION
    2361 HYLAN BOULEVARD
    STATEN ISLAND,NY10306     		  PC GENERAL SUPPORT 100
    VIRGINIA EPISCOPAL SCHOOL
    400 VIRGINIA EPISCOPAL SCHOOL RD
    LYNCHBURG,VA24503     		  PC GENERAL SUPPORT 250
    WARM WHISPERS MINISTRIES INC
    810 JACKSON ST
    LOCUST GROVE,GA30248     		  PC GENERAL SUPPORT 1,000
    WHITEFIELD ACADEMY INC
    ONE WHITEFIELD DR SE
    MABLETON,GA30126     		  PC GENERAL SUPPORT 10,000
    YOUNG LIFE ATLANTA PROJECT
    1750 THE EXCHANGE SUITE 200
    ATLANTA,GA30339     		  PC GENERAL SUPPORT 10,000
    Total .................................bullet 3b 53,100
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 527  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property...... 901101 305,813     16,169,233
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 6,634,107  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 305,813 8,449,367 40,505,497
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    49,260,677
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    1A THE FOUNDATION FINANCES AND ACQUIRES CHARITABLE AND EDUCATIONAL FACILITIES AND EQUIPMENT FOR THE BENEFIT OF TAX-EXEMPT SCHOOLS, COLLEGES, UNIVERSITIES AND OTHER TAX-EXEMPT EDUCATIONAL AND RESEARCH ORGANIZATIONS AND, CONSISTENT WITH ITS EXEMPT CHARITABLE PURPOSES AND FUNCTIONS, THE FOUNDATION MAKES THE FACILITIES AND EQUIPMENT AVAILABLE TO SUCH TAX-EXEMPT ORGANIZATIONS AT RENTAL OR INTEREST RATES BELOW COST OF MARKET RATES FOR COMPARABLE FACILITIES.
    1B AT THE REQUEST OF TWO UNIVERSITIES, THE FOUNDATION RENOVATED A CENTRAL UTILITY PLANT LOCATED ON THE CAMPUS OF ONE OF THE UNIVERSITIES AND USES IT TO FURNISH STEAM, HOT WATER AND CHILLED WATER TO THOSE UNIVERSITIES AT BELOW COST OF MARKET RATES.
    1C THE FOUNDATION FINANCES AND ACQUIRES CHARITABLE AND EDUCATIONAL FACILITIES AND EQUIPMENT FOR THE BENEFIT OF TAX-EXEMPT SCHOOLS, COLLEGES, UNIVERSITIES AND OTHER TAX-EXEMPT EDUCATIONAL AND RESEARCH ORGANIZATIONS AND, CONSISTENT WITH ITS EXEMPT CHARITABLE PURPOSES AND FUNCTIONS, THE FOUNDATION MAKES THE FACILITIES AND EQUIPMENT AVAILABLE TO SUCH TAX-EXEMPT ORGANIZATIONS AT RENTAL OR INTEREST RATES BELOW COST OF MARKET RATES FOR COMPARABLE FACILITIES.
    1D OPTION AGREEMENT REVENUE FROM A CHARITABLE ORGANIZATION THAT GIVES THE CHARITABLE ORGANIZATION THE OPTION TO PURCHASE THE REAL ESTATE CURRENTLY IN DEVELOPMENT WITH THE FOUNDATION.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 277,038 137,242 138,519 138,519

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    250 EAST PONCE OWNER LLC
          		75 5TH STREET NW SUITE 1050
    ATLANTA,GA30308     		2021-09-10 18,525,000 INVESTING IN PARTNERSHIP THAT ACQUIRE AND OPERATE FACILITIES TO SUPPORT INSTITUTION OF EDUCATION AND RESEARCH. CURRENT EXISTING TENANTS WHICH DO NOT QUALIFY AS PROGRAM RELATED TENANTS WILL BE PHASED OUT AS LEASES END AND MANAGEMENT OF PARKING WILL BE TRANSITIONED TO A REAL PROPERTY MASTER LEASE. 18,525,000 TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED. SEPTEMBER 2022   TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE PROGRAM-RELATED INVESTMENT WAS ORIGINALLY MADE. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE CONTROLLED PARTNERSHIP; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    BRIDGESIDE POINT 1 LLC
          		75 5TH STREET NW SUITE 1050
    ATLANTA,GA30308     		2021-06-24 17,100,000 INVESTING IN PARTNERSHIP THAT ACQUIRE AND OPERATE FACILITIES TO SUPPORT INSTITUTION OF EDUCATION AND RESEARCH. CURRENT EXISTING TENANTS WHICH DO NOT QUALIFY AS PROGRAM RELATED TENANTS WILL BE PHASED OUT AS LEASES END. 17,100,000 TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED. SEPTEMBER 2022   TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE PROGRAM-RELATED INVESTMENT WAS ORIGINALLY MADE. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE CONTROLLED PARTNERSHIP; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    BRIDGESIDE POINT 1 SPONSOR LLC
          		75 5TH STREET NW SUITE 1050
    ATLANTA,GA30308     		2021-06-24 951,900 INVESTING IN PARTNERSHIP THAT ACQUIRE AND OPERATE FACILITIES TO SUPPORT INSTITUTION OF EDUCATION AND RESEARCH. CURRENT EXISTING TENANTS WHICH DO NOT QUALIFY AS PROGRAM RELATED TENANTS WILL BE PHASED OUT AS LEASES END. 951,900 TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED. SEPTEMBER 2022   TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE PROGRAM-RELATED INVESTMENT WAS ORIGINALLY MADE. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE CONTROLLED PARTNERSHIP; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Name of Bond End of Year Book Value End of Year Fair Market Value
    INVESTMENTS - BONDS 7,888,788 7,888,788

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Name of Stock End of Year Book Value End of Year Fair Market Value
    INVESTMENTS - STOCKS 65,332,139 65,332,139

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    US Government Securities - End of Year Book Value:

    4,445,021
    US Government Securities - End of Year Fair Market Value:

    4,445,021
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2021 InvestmentsLandSchedule2
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    AGSERV - BUILDINGS 1,957,467 964,956 992,511 992,511
    AGSERV - BUILDING IMPROVEMENTS 116,349 85,866 30,483 30,483
    AGSERV - EQUIPMENT 101,282 52,960 48,322 48,322
    AGSERV - FURNITURE AND FIXTURES 22,770 21,915 855 855
    ADTC - BUILDING IMPROVEMENTS 521,531 173,858 347,673 347,673
    YAMACRAW - BUILDING IMPROVEMENTS 556,898 208,058 348,840 348,840
    YAMACRAW - EQUIPMENT 327,298 290,174 37,124 37,124
    YAMACRAW - FURNITURE AND FIXTURES 98,528 78,822 19,706 19,706

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    INVESTMENTS - OTHER FMV 53,932,654 53,932,654

    TY 2021 LandEtcSchedule2
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND 257,805,338 0 257,805,338 257,805,338
    BUILDINGS 69,837,202 49,217,411 20,619,791 20,619,791
    BUILDING IMPROVEMENTS 21,167,461 9,358,860 11,808,601 11,808,601
    LEASEHOLD IMPROVEMENTS 373,345 373,345 0  
    EQUIPMENT 1,907,663 1,820,749 86,914 86,914
    FURNITURE AND FIXTURES 3,367,679 3,351,896 15,783 15,783
    COMPUTER EQUIPMENT AND SOFTWARE 281,000 250,207 30,793 30,793


    TY 2021 LegalFeesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 650,572 495,173 580,886 69,686


    TY 2021 OtherAssetsSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INTEREST RECEIVABLE 2,506,039 2,508,477 2,508,477
    ACCRUED RENT RECEIVABLE 2,613,628 3,072,230 3,072,230
    LEASE RECEIVABLE 125,006,009 117,184,303 117,184,303
    PROGRAM RELATED INVESTMENTS - NOTES RECEIVABLE 53,904,854 53,523,881 53,523,881
    OPERATING RIGHT-OF-USE ASSETS 50,085,382 47,838,769 47,838,769
    PARKING EASEMENT,NET 5,814,070 5,319,960 5,319,960
    LEASING COMMISSION 0 11,205 11,205


    TY 2021 OtherExpensesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMPUTER EXPENSE 76,419 600 600 75,819
    INSURANCE 419,275 304,081 304,081 115,194
    DUES AND SUBSCRIPTIONS 62,985 1,422 1,422 61,563
    LICENSES 5,424 2,252 2,252 3,172
    SUPPLIES 36,800 0 67 36,733
    REPAIRS AND MAINTENANCE 267,033 267,033 267,033 0
    CLEANING 323,478 323,478 323,478 0
    EQUIPMENT RENTAL 4,776 0 0 4,776
    SECURITY 179,449 179,449 179,449 0
    PARKING 20,136 0 0 20,136
    TELEPHONE 79,905 5,280 5,700 74,205
    OFFICE EXPENSES 36,862 13,067 13,644 23,218
    PROFESSIONAL DEVELOPMENT 77,321 0 0 77,321
    SEMINARS 13,708 0 13,708 0
    LEASING COMMISSION EXPENSE 3,880 3,880 3,880 0
    BANK CHARGES 48,141 40,563 40,563 7,578
    ADMINISTRATION 376,465 278,581 376,465 0
    MISCELLANEOUS 65,299 51,379 65,299 0
    RESERVE FUND EXPENSE 867,081 867,081 867,081 0
    CONDO FEES 1,522,284 1,522,284 1,522,284 0
    AMORTIZATION 400,826 400,826 400,826 0
    LOAN SERVICING FEES 46,400 46,400 46,400 0
    ACCRUAL TO CASH ADJUSTMENT 0 0 0 839,746
    LEASE CHARGE FUND EXPENSES 50,003 0 0 50,003
    PENALTIES AND FINES 33 0 0 0
    MARKETING 14,241 0 14,241 0
    BAD DEBT EXPENSE -3,933 0 0 0
    SPONSORSHIP 3,600 0 0 3,600


    TY 2021 OtherIncomeSchedule2
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASSTHROUGH INVESTMENTS 0 -156,760 184,708
    REAL ESTATE OPTION INCOME 9,055,987 9,055,987 9,055,987
    ENERGY SERVICE REVENUE 4,302,628   4,302,628
    INTEREST INCOME - PROGRAM RELATED 10,757,781 10,757,781 10,757,781
    OTHER REVENUE 8,483 8,483 8,483
    CONSULTING FEE REVENUE 211,385 0 211,385


    TY 2021 OtherIncreasesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Description Amount
    NET UNREALIZED GAIN ON INVESTMENTS 4,491,726


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Description Beginning of Year - Book Value End of Year - Book Value
    BONDS PAYABLE 221,590,625 217,546,870
    TRUIST BANK LOAN 21,819,014 0
    LINE OF CREDIT 41,000,000 87,525,000
    SECURITY DEPOSITS 9,491 9,491
    CGA MORTGAGE CAPITAL, LLC 290,755,704 44,136,362
    OPERATING LEASE LIABILITIES 6,506,794 6,085,953
    NORTHWELL HEALTHCARE, INC. 0 246,000,000


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER PROFESSIONAL SERVICES 3,545,063 2,836,036 3,129,483 415,580
    INVESTMENT MANAGEMENT FEES 616,027 616,027 616,027 0
    ASSET MANAGEMENT FEES 562,620 557,870 562,620 0


    TY 2021 TaxesSchedule
    Name:
    THE UNIVERSITY FINANCING FOUNDATION INC
    EIN:
    58-1505902
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PERSONAL PROPERTY TAXES 172,088 159,638 159,638 12,450
    FOREIGN TAXES 0 0 7 0