Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
For calendar year 2022, or tax year beginning 01-01-2022 , and ending 12-31-2022
Name of foundation
THE UNIVERSITY FINANCING FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)75 5TH ST NW SUITE 1025
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ATLANTA, GA30308
A Employer identification number

58-1505902
B Telephone number (see instructions)

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

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$708,479,784J 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 right arrow.............
3 Interest on savings and temporary cash investments 270 155,607 155,607
4 Dividends and interest from securities... 2,235,290 1,558,651 1,558,651
5a Gross rents............ 15,624,053 15,624,053 15,624,053
b Net rental income or (loss) -14,753,458
6a Net gain or (loss) from sale of assets not on line 10 15,642,494
b Gross sales price for all assets on line 6a 86,438,813
7 Capital gain net income (from Part IV, line 2)... 3,790,451
8 Net short-term capital gain......... 1,800,834
9 Income modifications........... 4,728,244
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
List of Attached Documents:
// Content
37,286,703 29,464,598 35,059,026
12 Total. Add lines 1 through 11........ 70,788,810 50,593,360 58,926,415
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,296,154 824,039 824,039 2,472,116
14 Other employee salaries and wages...... 507,093 507,093 507,093 0
15 Pension plans, employee benefits....... 2,515,821 1,537,350 1,537,350 978,471
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
514,355 387,595 425,947 88,408
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
363,974 159,263 181,987 181,987
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
16,894,752 16,321,354 16,412,172 482,580
17 Interest............... 17,992,097 17,778,883 17,992,097 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
246,618 234,181 234,181 12,437
19 Depreciation (attach schedule) and depletion... 3,142,919 3,142,919 3,142,919
20 Occupancy.............. 7,201,692 6,740,924 6,740,924 460,768
21 Travel, conferences, and meetings....... 101,142 0 55,060 46,082
22 Printing and publications.......... 2,132 0 807 1,325
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,624,624 4,814,407 5,080,196 -461,243
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 58,403,373 52,448,008 53,134,772 4,262,931
25 Contributions, gifts, grants paid....... 2,919,026 57,862,072
26 Total expenses and disbursements. Add lines 24 and 25 61,322,399 52,448,008 53,134,772 62,125,003
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 9,466,411
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)... 5,791,643
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2022)
Form 990-PF (2022)
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......... 90,189,247 90,446,975 90,446,975
3 Accounts receivable right arrow291,755
Less: allowance for doubtful accounts right arrow   916,397 291,755 291,755
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 1,641,286 1,009,937 1,009,937
10a Investments—U.S. and state government obligations (attach schedule) 4,445,021 Click to see attachment
List of Attached Documents:
// Content
3,345,054 		3,345,054
b Investments—corporate stock (attach schedule)....... 65,332,139 Click to see attachment
List of Attached Documents:
// Content
58,426,035 		58,426,035
c Investments—corporate bonds (attach schedule)....... 7,888,788 Click to see attachment
List of Attached Documents:
// Content
11,000,276 		11,000,276
11 Investments—land, buildings, and equipment: basis right arrow1,637,398
Less: accumulated depreciation (attach schedule) right arrow845,802 1,825,514 Click to see attachment
List of Attached Documents:
// Content
791,596 		791,596
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 53,932,654 Click to see attachment
List of Attached Documents:
// Content
50,603,699 		50,603,699
14 Land, buildings, and equipment: basis right arrow318,344,347
Less: accumulated depreciation (attach schedule) right arrow43,256,573 290,367,220 Click to see attachment
List of Attached Documents:
// Content
275,087,774 		275,087,774
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
229,458,825 		Click to see attachment
List of Attached Documents:
// Content
217,476,683 		Click to see attachment
List of Attached Documents:
// Content
217,476,683
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 745,997,091 708,479,784 708,479,784
Liabilities 17 Accounts payable and accrued expenses.......... 10,677,477 20,691,198
18 Grants payable................. 251,800 116,800
19 Deferred revenue................. 16,513,887 10,720,939
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
601,303,676 		Click to see attachment
List of Attached Documents:
// Content
567,909,433
23 Total liabilities (add lines 17 through 22)......... 628,746,840 599,438,370
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 117,250,251 109,041,414
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
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)..... 117,250,251 109,041,414
30 Total liabilities and net assets/fund balances (see instructions). 745,997,091 708,479,784
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
117,250,251
2
Enter amount from Part I, line 27a .....................
2
9,466,411
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
126,716,662
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
17,675,248
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
109,041,414
Form 990-PF (2022)
Form 990-PF (2022)
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 - CARLYLE DIRECT ALTERNATIVE OPPORTUNITES P   2022-12-31
b ST - AP ENERGY INFRASTRUCTURE FUND P   2022-12-31
c LT - AP ENERGY INFRASTRUCTURE FUND P   2022-12-31
d GAIN ON SALE-TYPE LEASES P   2022-12-31
e REALIZED GAIN/LOSS ON SALE OF INVESTMENTS P   2022-12-31
RETIREMENT OF DEBT P   2022-12-31
REALIZED GAIN/LOSS ON SALE OF INVESTMENTS P   2022-12-31
ST - PUBLICLY TRADED STOCK     2022-12-31
LT - PUBLICLY TRADED STOCK     2022-12-31
GAIN/LOSS OF SALE OF SUBSIDIARY P   2022-12-31
(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 12,959     12,959
b 51,549     51,549
c 146,296     146,296
d 3,254,063     3,254,063
e 12,976,689   12,976,689 0
44,742,929   44,025,451 717,478
      0
9,091,582   10,609,319 -1,517,737
15,128,781   14,002,938 1,125,843
1,033,965   1,033,965 0
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       12,959
b       51,549
c       146,296
d       3,254,063
e       0
      717,478
      0
      -1,517,737
      1,125,843
      0
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 3,790,451
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 1,800,834
Form 990-PF (2022)
Form 990-PF (2022)
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 right arrow 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) 1 N/A
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 2022 estimated tax payments and 2021 overpayment credited to 2022 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 2221 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow   Refundedright arrow 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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowGA, MA, PA
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 2022 or the taxable year beginning in 2022? 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 (2022)
Form 990-PF (2022)
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 addressright arrowWWW.TUFF.ORG
14
The books are in care ofright arrowKEVIN T BYRNE Telephone no.right arrow (404) 214-9440

Located atright arrow75 5TH ST NW SUITE 1025ATLANTAGA ZIP+4right arrow30308
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, 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 right arrow
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2022? .............
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 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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
 
No
b
If "Yes," did it have excess business holdings in 2022 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 2022.) .....................
3b
 
 
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 2022? ..
4b
 
No
Form 990-PF (2022)
Form 990-PF (2022)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
List of Attached Documents:
// Content
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 		82,150 42,400 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
THOMAS H HALL III DIRECTOR, CONSULTANT
7.00 		120,650 0 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
THOMAS W VENTULETT III DIRECTOR, SECRETARY
5.50 		82,150 43,136 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
DAVID M MCKENNEY DIRECTOR, TREASURER, ASSIST. SECRETARY
5.50 		79,150 38,400 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
AJ ROBINSON DIRECTOR
5.50 		77,950 47,400 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
KEVIN T BYRNE DIRECTOR
0.00 		41,250 35,791 0
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
KEVIN T BYRNE PRESIDENT, CEO, COO, ASSISTANT TREASUR
40.00 		945,000 192,958 15,600
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
VICTOR R CLEMENTS SENIOR VICE PRESIDENT - ADMINISTRATION
40.00 		437,500 111,190 9,600
75 FIFTH ST NW SUITE 1050
ATLANTA,GA30308
TERESA A SELLMAN ASSISTANT VICE PRESIDENT AND CHIEF OF
40.00 		203,269 69,681 0
75 FIFTH ST NW SUITE 1025
ATLANTA,GA30308
MICHAEL K HAIR VICE PRESIDENT - FINANCE
40.00 		94,180 33,716 0
75 FIFTH ST NW SUITE 1025
ATLANTA,GA30308
JORDAN PETERSON VICE PRESIDENT - REAL ESTATE
40.00 		158,732 60,896 0
75 FIFTH ST NW SUITE 1025
ATLANTA,GA30308
LISA A BEALL CONTROLLER, ASSISTANT TREASURER
40.00 		244,500 92,963 0
75 FIFTH ST NW SUITE 1025
ATLANTA,GA30308
ANNE M TOMSKY ASSISTANT VICE PRESIDENT
40.00 		205,000 73,390 0
75 FIFTH ST NW SUITE 1025
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
TERRI KEMP PROJECT ACCOUNTANT
40.00 		101,500 37,537 0
75 FIFTH ST SUITE 1025
ATLANTA,GA30308
CHRISTOPHER COMBS FINANCIAL ANALYST
40.00 		88,500 27,258 0
75 FIFTH ST SUITE 1025
ATLANTA,GA30308
MICHAEL HADDOW FINANCIAL ANALYST
40.00 		72,500 22,330 0
75 FIFTH ST SUITE 1025
ATLANTA,GA30308
ERIKA UNDERWOOD OFFICE MANAGER & EXE
40.00 		67,500 27,269 0
75 FIFTH ST SUITE 1025
ATLANTA,GA30308
REBECCA SMITH OFFICE MANAGER
35.00 		60,400 18,603 0
75 FIFTH ST SUITE 1050
ATLANTA,GA30308
Total number of other employees paid over $50,000...................right arrow 5
Form 990-PF (2022)
Form 990-PF (2022)
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 3,005,191
1 WORLD TRADE CENTER 40TH FLOOR
NEW YORK,NY10007
COLLABORATIVE REAL ESTATE LLC PROJ DEVELOPMENT/CONSTRUCTION MGMT/PROPERTY & ASSET MGMT 1,145,769
75 5TH STREET NW SUITE 855
ATLANTA,GA30308
LEHRER CUMMING PROPERTY DEVELOPMENT ADVISORY SERVICES 751,295
900 3RD AVENUE 6TH FLOOR
NEW YORK,NY10022
BLUE SKY THIRD AVENUE MANAGEMENT LLC PROPERTY/ASSET MANAGEMENT & ADVISORY SVCS 447,442
30 EAST 59TH ST 14TH FLOOR
NEW YORK,NY10022
WINDHAM BRANNON PC AUDIT SERVICES 252,531
3630 PEACHTREE ROAD NE SUITE 600
ATLANTA,GA30326
Total number of others receiving over $50,000 for professional services.............right arrow23
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. 10,696,612
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  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2022)
Form 990-PF (2022)
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
81,323,129
b
Average of monthly cash balances.......................
1b
21,138,532
c
Fair market value of all other assets (see instructions)................
1c
20,712,657
d
Total (add lines 1a, b, and c).........................
1d
123,174,318
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
123,174,318
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,847,615
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
121,326,703
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
6,066,335
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 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (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
62,125,003
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
642,038
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
62,767,041
Form 990-PF (2022)
Form 990-PF (2022)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2021 		(c)
2021 		(d)
2022
1 Distributable amount for 2022 from Part X, line 7  
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......  
b Total for prior years:20, 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2017......  
b From 2018......  
c From 2019......  
d From 2020......  
e From 2021......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$  
a Applied to 2021, 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 2022 distributable amount.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2022.    
(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 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		 
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 2017 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019....  
c Excess from 2020....  
d Excess from 2021....  
e Excess from 2022....  
Form 990-PF (2022)
Form 990-PF (2022)
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 2022, enter the date of the ruling ...... right arrow
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2022 (b) 2021 (c) 2020 (d) 2019
5,791,643 3,188,428 3,666,622 3,947,305 16,593,998
b 85% (0.85) of line 2a ......... 4,922,897 2,710,164 3,116,629 3,355,209 14,104,898
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		62,767,041 22,992,445 67,796,469 44,378,235 197,934,190
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		3,080,677 313,972 6,404,626 253,270 10,052,545
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		59,686,364 22,678,473 61,391,843 44,124,965 187,881,645
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 .. 		4,044,223 3,664,861 3,078,841 2,631,537 13,419,462
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 right arrow
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 (2022)
Form 990-PF (2022)
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 		NONE PC GENERAL SUPPORT 250

AMERICAN ANGLICAN COUNCIL

PO BOX 2868
LOGANVILLE,GA30052 		NONE PC GENERAL SUPPORT 5,250

AMERICAN ANGLICAN COUNCIL

PO BOX 2868
LOGANVILLE,GA30052 		NONE PC GENERAL SUPPORT 1,500

ASSOCIATION OF UNIVERSITY RESEARCH PARKS

6262 N SWAN ROAD SUITE 100
TUCSON,AZ85718 		NONE PC SPONSORSHIP 25,000

ASSOCIATION OF UNIVERSITY RESEARCH PARKS

6262 N SWAN ROAD SUITE 100
TUCSON,AZ85718 		NONE PC SPONSORSHIP 8,500

CHEROKEE GARDEN LIBRARY

130 WEST PACES FERRY ROAD NW
ATLANTA,GA30305 		NONE PC GENERAL SUPPORT 500

CHILDREN'S HEALTHCARE OF ATLANTA FOUNDATION

1687 TULLIE CIRCLE
ATLANTA,GA30329 		NONE PC GENERAL SUPPORT 1,000

CLAYTON STATE UNIVERSITY FOUNDATION

2000 CLAYTON STATE BLVD
MORROW,GA30260 		NONE PC SPONSORSHIP 2,500

EMORY UNIVERSITY

762 CLIFTON RD SUITE 2400
ATLANTA,GA30322 		NONE PC GENERAL SUPPORT 100

FOOD FOR THE POOR

6401 LYONS RD
COCONUT CREEK,FL33073 		NONE PC GENERAL SUPPORT 500

FRIENDS OF THE GEORGIA ARCHIVES

P O BOX 711
MORROW,GA30260 		NONE PC GENERAL SUPPORT 1,000

GEORGIA ADVANCED TECHNOLOGY VENTURES INC

221 UNCLE HEINIE WAY
ATLANTA,GA30332 		NONE PC GENERAL SUPPORT 75,000

GEORGIA STATE UNIVERSITY FOUNDATION

PO BOX 2668
ATLANTA,GA30301 		NONE PC GENERAL SUPPORT 2,750,000

GEORGIA TECH FOUNDATION INC

PO BOX 3963
ATLANTA,GA30302 		NONE PC GENERAL SUPPORT 4,000

GEORGIA TECH FOUNDATION INC

PO BOX 3963
ATLANTA,GA30302 		NONE PC GENERAL SUPPORT 10,000

GEORGIA TECH FOUNDATION INC

PO BOX 3963
ATLANTA,GA30302 		NONE PC GENERAL SUPPORT 60,000

HIGHLANDS BIOLOGICAL FOUNDATION

PO BOX 580
HIGHLANDS,NC28741 		NONE PC GENERAL SUPPORT 500

HILLSDALE COLLEGE

33 E COLLEGE ST
HILLSDALE,MI49242 		NONE PC GENERAL SUPPORT 750

HILLSDALE COLLEGE

33 E COLLEGE ST
HILLSDALE,MI49242 		NONE PC GENERAL SUPPORT 500

INTERNATIONAL BUSINESS INNOVATION ASSOCIATION

PO BOX 677279
ORLANDO,FL32867 		NONE PC SPONSORSHIP 18,000

NORTH CAROLINA COMMUNITY FOUNDATION

3737 GLENWOOD AVE SUITE 460
RALEIGH,NC27612 		NONE PC GENERAL SUPPORT 1,600

PAGE-ROBBINS ADULT DAY SERVICES

1961 SOUTH HOUSTON LEVEE RD
COLLIERVILLE,TN38017 		NONE PC GENERAL SUPPORT 1,000

PUBLIC RELATIONS SOCIETY OF AMERICA

120 WALL ST 21ST FLOOR
NEW YORK,NY10005 		NONE PC GENERAL SUPPORT 30

REFORMATION HOPE INC

4101 SANDY PLAINS RD
MARIETTA,GA30066 		NONE PC GENERAL SUPPORT 100

SALEM MONTESSORI SCHOOL

529 SOUTH CHURCH ST
WINSTON SALEM,NC27101 		NONE PC GENERAL SUPPORT 2,000

SAMARITAN'S PURSE

PO BOX 3000
BOONE,NC28607 		NONE PC GENERAL SUPPORT 250

SHEPHERD CENTER FOUNDATION INC

2020 PEACHTREE RD
ATLANTA,GA30309 		NONE PC GENERAL SUPPORT 500

SPICY GROVE MINISTRIES INC

950 EAGLES LANDING PKWY SUITE 975
STOCKBRIDGE,GA30281 		NONE PC GENERAL SUPPORT 3,172

STATE SCIENCE & TECH INSTITUTE

5015 PINE CREEK DR
WESTERVILLE,OH43081 		NONE PC SPONSORSHIP 5,000

SUMMIT SCHOOL

2100 REYNOLDA RD
WINSTONSALEM,NC27106 		NONE PC GENERAL SUPPORT 3,000

THE BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA

270 WASHINGTON STREET SW
ATLANTA,GA30334 		NONE PC GENERAL SUPPORT 23,053,145

THE COMMUNITY FOUNDATION FOR GREATER ATLANTA INC

50 HURT PLAZA SUITE 449
ATLANTA,GA30303 		NONE PC GENERAL SUPPORT 20,000

THE DAN MARINO FOUNDATION

400 N ANDREWS AVE
FT LAUDERDALE,FL33301 		NONE PC GENERAL SUPPORT 150

THE GEORGE WASHINGTON UNIVERSITY

1918 F STREET NW
WASHINGTON,DC20052 		NONE PC GENERAL SUPPORT 1,000

THE HOPE CENTER INC

295 MOLLY LANE SUITE 120
WOODSTOCK,GA30189 		NONE PC GENERAL SUPPORT 155

THE ROTARY CLUB OF ATLANTA

100 EDGEWOOD AVE
ATLANTA,GA30303 		NONE PC GENERAL SUPPORT 20

THE SALVATION ARMY OF METRO ATLANTA

1000 CENTER PLACE
NORCROSS,GA30093 		NONE PC GENERAL SUPPORT 1,500

TUNNEL TO TOWERS FOUNDATION

2361 HYLAN BOULEVARD
STATEN ISLAND,NY10306 		NONE PC GENERAL SUPPORT 100

UNIVERSITY SYSTEM OF GA FOUNDATION

394 SOUTH MILLEDGE AVE
ATHENS,GA30602 		NONE PC SPONSORSHIP 25,000

UNIVERSITY SYSTEM OF GA FOUNDATION

394 SOUTH MILLEDGE AVE
ATHENS,GA30602 		NONE PC GENERAL SUPPORT 25,000

USG REAL ESTATE FOUNDATION XIII LLC

270 WASHINGTON STREET SW
ATLANTA,GA30334 		NONE PC GENERAL SUPPORT 31,732,250

VIRGINIA EPISCOPAL SCHOOL

400 VIRGINIA EPISCOPAL SCHOOL RD
LYNCHBURG,VA24503 		NONE PC GENERAL SUPPORT 250

WARM WHISPERS MINISTRIES

810 JACKSON ST
LOCUST GROVE,GA30248 		NONE PC GENERAL SUPPORT 1,000

WHITEFIELD ACADEMY

ONE WHITEFIELD DR SE
MABLETON,GA30126 		NONE PC GENERAL SUPPORT 10,000

YOUNG LIFE

1874 PIEDMONT AVE NE 305C
ATLANTA,GA30324 		NONE PC GENERAL SUPPORT 10,000

YOUTH WITH A MISSION COLORADO SPRINGS

505 POPES BLUFF TRAIL
COLORADO SPRINGS,CO80907 		NONE PC GENERAL SUPPORT 1,000
Total .................................right arrow 3a 57,862,072
bApproved for future payment

ATLANTA CHILDREN'S SHELTER
607 PEACHTREE ST NE
ATLANTA,GA30308 		NONE PC GENERAL SUPPORT 2,500

CHILDREN'S HEALTHCARE OF ATLANTA FOUNDATION
1687 TULLIE CIRCLE
ATLANTA,GA30329 		NONE PC GENERAL SUPPORT 1,500

FOOD FOR THE POOR
6401 LYONS RD
COCONUT CREEK,FL33073 		NONE PC GENERAL SUPPORT 500

GEORGIA TECH FOUNDATION INC
PO BOX 3963
ATLANTA,GA30302 		NONE PC GENERAL SUPPORT 60,000

HEALTHNETWORK FOUNDATION INC
3550 LANDER RD SUITE 225
PEPPER PIKE,OH44124 		NONE PC GENERAL SUPPORT 500

HIGHLANDS-CASHIERS HEALTH FOUNDATION
PO BOX 742
HIGHLANDS,NC28741 		NONE PC GENERAL SUPPORT 250

HILLSDALE COLLEGE
33 E COLLEGE ST
HILLSDALE,MI49242 		NONE PC GENERAL SUPPORT 1,000

NORTH CAROLINA COMMUNITY FOUNDATION
3737 GLENWOOD AVE SUITE 460
RALEIGH,NC27612 		NONE PC GENERAL SUPPORT 500

ST JUDE'S CHILDREN'S HOSPITAL
501 ST JUDE PLACE
MEMPHIS,TN38105 		NONE PC GENERAL SUPPORT 1,000

THE BASCOM
323 FRANKLIN RD
HIGHLANDS,NC28741 		NONE PC GENERAL SUPPORT 500

THE HERITAGE FOUNDATION
214 MASSACHUSETTS AVE NE
WASHINGTON,DC20002 		NONE PC GENERAL SUPPORT 200

WHITEFIELD ACADEMY
ONE WHITEFIELD DR SE
MABLETON,GA30126 		NONE PC GENERAL SUPPORT 10,000

YOUNG LIFE
1874 PIEDMONT AVE NE 305C
ATLANTA,GA30324 		NONE PC GENERAL SUPPORT 10,000
Total ................................. right arrow 3b 88,450
Form 990-PF (2022)
Form 990-PF (2022)
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
aREAL ESTATE OPTION INCOME         20,566,933
bENERGY SERVICE REVENUE         5,389,867
cINTEREST INCOME - PROGRAM RELATED         10,073,637
dCONSULTING FEE REVENUE         18,135
eAMORT OF BOND PREMIUM         1,238,131
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 270  
4 Dividends and interest from securities ....     14 2,235,290  
5 Net rental income or (loss) from real estate:
aDebt-financed property...... 901101 92,538     15,531,515
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 15,642,494  
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) .. 92,538 17,878,054 52,818,218
13Total. Add line 12, columns (b), (d), and (e)..................
13
70,788,810
(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.
5A 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.
Form 990-PF (2022)
Form 990-PF (2022)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2022)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2022 AccountingFeesSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 363,974 159,263 181,987 181,987

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TY 2022 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 1025
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 WAS PHASED OUT AS LEASES END AND MANAGEMENT OF PARKING WILL BE TRANSITIONED TO A REAL PROPERTY MASTER LEASE.   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 1025
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.   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 1025
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.   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 2022 InvestmentsCorpBondsSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Name of Bond End of Year Book Value End of Year Fair Market Value
VARIOUS COMPANIES - CORPORATE 3,100,781 3,100,781
VARIOUS TAXABLE ETFS 470,843 470,843
VARIOUS TAX EXEMPT BOND FUNDS 25,298 25,298
VARIOUS TAX-EXEMPT ETFS 22,476 22,476
OTHER ETFS 49,552 49,552
T ROWE PRICE INSTITUTIONAL FLOATING RATE FUND 1,600,312 1,600,312
CION ARES DIVERSIFIED CREDIT FUND 281,409 281,409
BLACKROCK HIGH YIELD BOND INSTL 451,294 451,294
EATON VANCE EMERGING MARKETS DEBT OPPORTUNITIES FUND 612,303 612,303
PIMCO INVESTMENT GRADE CREDIT BOND I-2 981,273 981,273
VANGUARD SHORT-TERM INVESTMENT GRADE FUND 145,808 145,808
ISHARES CORE US AGGREGATE BOND ETF 397,271 397,271
ISHARES 1-3 YEAR TREASURY BOND ETF 2,086,556 2,086,556
VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF 775,100 775,100

TY 2022 InvestmentsCorpStockSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Name of Stock End of Year Book Value End of Year Fair Market Value
COMMON STOCK 28,687,720 28,687,720
PREFERRED STOCK 357,644 357,644
CS 22.75% CONTINGENT AUTOCALL AFRM (SQGBM) 28,000 28,000
VARIOUS SMALL CAP EQUITY GROWTH FUNDS 1,963,690 1,963,690
VARIOUS MID CAP EQUITY VALUE FUNDS 2,404,378 2,404,378
VARIOUS LARGE CAP EQUITY VALUE FUNDS 4,171,655 4,171,655
BARON PARTNERS INSTITUTIONAL 424,579 424,579
CONGRESS SMALL CAP GROWTH INST FUND 672,948 672,948
FIDELITY ADV NEW INSIGHTS I 367,548 367,548
GMO RESOURCES FUND 925,557 925,557
NEUBERGER BERMAN EQUITY INC INS 522,243 522,243
OAKMARK FUND INSTITUTIONAL 875,992 875,992
BLACKROCK INNOVATION & GROWTH TRUST 231,540 231,540
INVESCO S&P 500 PURE VALUE ETF 1,495,422 1,495,422
INVESCO S&P 500 LOW VOLATILITY ETF 2,965,343 2,965,343
ISHARES RUSSELL 1000 VALUE ETF 761,283 761,283
ISHARES S&P MID-CAP 400 G ETF 342,115 342,115
SPDR ENERGY SELECT SECTOR FUND 874,700 874,700
SPDR HEALTH CARE SELECT SECTOR FUND 543,400 543,400
VANGUARD RUSSELL 1000 VALUE ETF 1,475,879 1,475,879
VANGUARD S&P 500 ETF 878,350 878,350
VANGUARD UTILITIES ETF 920,160 920,160
VARIOUS INTERNATIONAL EQUITY - DEVELOPED MKTS 2,724,851 2,724,851
VARIOUS INTERNATIONAL EQUITY - EMERGING MKTS 1,248,868 1,248,868
AMERICAN FUNDS NEW WORLD F2 875,502 875,502
HENNESSY JAPAN SMALL CAP FUND 755,296 755,296
MSIF INTERNATIONAL OPPORTUNITY PTF I 772,038 772,038
ISHARES MSCI MEXICO 28,187 28,187
ISHARES MSCI SOUTH KOREA ETF 131,147 131,147

TY 2022 InvestmentsGovtObligationsSch
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
US Government Securities - End of Year Book Value:

3,345,054
US Government Securities - End of Year Fair Market Value:

3,345,054
State & Local Government Securities - End of Year Book Value:


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


0


TY 2022 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
ATDC - BUILDING IMPROVEMENTS 521,531 203,697 317,834 317,834
YAMACRAW - BUILDING IMPROVEMENTS 690,041 247,828 442,213 442,213
YAMACRAW - EQUIPMENT 327,298 295,749 31,549 31,549
YAMACRAW - FURNITURE AND FIXTURES 98,528 98,528 0 0

TY 2022 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
PRISMA SPECTRUM FUND LTD FMV 9,626 9,626
PERSISTENT EDGE ASIA PARTNERS LTD FMV 1,419,836 1,419,836
IRONWOOD MULTI STRAT FMV 571,767 571,767
COATUE OFFSHORE FUND LTD FMV 791,253 791,253
FORT GLOBAL CONTRARIAN FUND FMV 157,755 157,755
ALKEON GROWTH OFFSHORE FUND, LTD. FMV 1,475,309 1,475,309
THIRD POINT OFFSHORE INVESTORS FUND FMV 1,076,065 1,076,065
HEDGEPREMIER MILLENNIUM INTERNATIONAL LTD FMV 581,153 581,153
ATLAS POINT GLOBAL MULTI-STRATEGY OFFSHORE FUND LTD FMV 1,651,927 1,651,927
GREENBACKER RENEWABLE ENERGY COMPANY LLC FMV 491,560 491,560
BLACKROCK MULTI-SECTOR OPPORTUNITIES TRUST ETF FMV 333,400 333,400
BLACKROCK SCIENCE AND TECHNOLOGY TRUST II FMV 391,000 391,000
PE PREMIER GA MAP OFFSHORE FEEDER L.P. FMV 56,542 56,542
VERSUS CAPITAL REAL ASSETS FUND FMV 1,843,073 1,843,073
JP MORGAN CHASE & CO ALERIAN MLP INDEX ETN FMV 543,533 543,533
JPMORGAN EQUITY PREMIUM INCOME FUND FMV 794,544 794,544
ADAMS STREET PARTNERS LEADERS FUND 2020 LP FMV 829,654 829,654
TRANSFORMATION CAPITAL FUND III-A LP FMV 149,136 149,136
ATLAS POINT ENERGY INFRASTRUCTURE FUND LLC FMV 1,397,817 1,397,817
CARLYLE DIRECT ALTERNATIVE OPPORTUNITIES FUND, L.P. FMV 937,270 937,270
250 EAST PONCE OWNER LLC FMV 17,683,100 17,683,100
BRIDGESIDE POINT 1 LLC FMV 17,418,379 17,418,379

TY 2022 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 256,341,266 0 256,341,266 256,341,266
BUILDINGS 38,978,364 31,496,278 7,482,086 7,482,086
BUILDING IMPROVEMENTS 20,637,436 9,843,379 10,794,057 10,794,057
LEASEHOLD IMPROVEMENTS 472,306 373,345 98,961 98,961
EQUIPMENT 800,634 706,237 94,397 94,397
FURNITURE AND FIXTURES 807,517 560,879 246,638 246,638
COMPUTER EQUIPMENT AND SOFTWARE 306,824 276,455 30,369 30,369


TY 2022 LegalFeesSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 514,355 387,595 425,947 88,408


TY 2022 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 2,508,477 2,430,279 2,430,279
ACCRUED RENT RECEIVABLE 3,072,230 3,407,174 3,407,174
LEASE RECEIVABLE 117,184,303 108,742,247 108,742,247
PROGRAM RELATED INVESTMENTS - NOTES RECEIVABLE 53,523,881 48,712,335 48,712,335
OPERATING RIGHT-OF-USE ASSETS 47,838,769 49,396,684 49,396,684
PARKING EASEMENT,NET 5,319,960 4,787,964 4,787,964
LEASING COMMISSION 11,205 0 0


TY 2022 OtherDecreasesSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Description Amount
NET UNREALIZED GAIN (LOSS) ON INVESTMENTS 17,675,248


TY 2022 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 80,901 2,916 2,916 77,985
INSURANCE 464,785 323,614 323,614 141,171
DUES AND SUBSCRIPTIONS 61,705 2,132 2,132 59,573
LICENSES 19,320 15,570 15,570 3,750
SUPPLIES 36,775 0 0 36,775
REPAIRS AND MAINTENANCE 240,164 238,332 238,332 1,832
CLEANING 370,180 370,180 370,180 0
EQUIPMENT RENTAL 3,780 0 0 3,780
SECURITY 237,007 237,007 237,007 0
PARKING 20,052 0 0 20,052
TELEPHONE 82,815 5,211 5,234 77,581
OFFICE EXPENSES 34,407 10,498 10,625 23,782
PROFESSIONAL DEVELOPMENT 57,040 0 0 57,040
SEMINARS 52,385 0 52,385 0
LEASING COMMISSION EXPENSE 1,225 1,225 1,225 0
BANK CHARGES 34,004 30,392 30,392 3,612
ADMINISTRATION 381,045 281,755 381,045 0
MISCELLANEOUS 385,712 279,019 385,859 -147
RESERVE FUND EXPENSE 194,069 194,069 194,069 0
LEASE CHARGE FUND EXPENSES 37,612 0 0 37,612
CONDO FEES 1,633,327 1,633,327 1,633,327 0
AMORTIZATION 1,142,760 1,142,760 1,142,760 0
LOAN SERVICING FEES 46,400 46,400 46,400 0
PENALTIES AND FINES 30 0 0 0
MARKETING 7,124 0 7,124 0
ACCRUAL TO CASH ADJUSTMENT 0 0 0 -1,005,641


TY 2022 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 -2,414,103 -2,227,677
REAL ESTATE OPTION INCOME 20,566,933 20,566,933 20,566,933
ENERGY SERVICE REVENUE 5,389,867   5,389,867
INTEREST INCOME - PROGRAM RELATED 10,073,637 10,073,637 10,073,637
CONSULTING FEE REVENUE 18,135   18,135
AMORT OF BOND PREMIUM 1,238,131 1,238,131 1,238,131


TY 2022 OtherLiabilitiesSchedule
Name:
THE UNIVERSITY FINANCING FOUNDATION INC
EIN:
58-1505902
Description Beginning of Year - Book Value End of Year - Book Value
BONDS PAYABLE 217,546,870 182,675,892
LINE OF CREDIT 87,525,000 87,416,646
SECURITY DEPOSITS 9,491 689,049
CGA MORTGAGE CAPITAL, LLC 44,136,362 41,669,414
OPERATING LEASE LIABILITIES 6,085,953 9,458,432
NORTHWELL HEALTHCARE, INC. 246,000,000 246,000,000


TY 2022 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 15,654,854 15,093,312 15,172,274 482,580
INVESTMENT MANAGEMENT FEES 664,330 664,330 664,330 0
ASSET MANAGEMENT FEES 575,568 563,712 575,568 0


TY 2022 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 179,107 166,670 166,670 12,437
UBTI TAXES 9,712 9,712 9,712 0
EXCISE TAXES 57,799 57,799 57,799 0