A LETTER FROM OUR LEADERSHIP
As we reflect on another year of progress and innovation across the University System of Georgia (USG), we are reminded of the incredible impact our institutions have on the lives of students, faculty, staff, and communities throughout our state. The USG Foundation plays a vital role in fostering academic excellence, supporting student success, and expanding access to higher education.
Together, we continue to build a brighter future for Georgia by cultivating opportunities and addressing the evolving needs of our entire university system. Thank you for your unwavering support in helping us achieve these goals.
WHO WE ARE
The University System of Georgia Foundation (USG Foundation) advances the work of the 26 public colleges and universities in Georgia through leadership, engagement in philanthropy, and asset management. The USG Foundation exists to serve Georgia’s public higher education institutions in order to provide opportunity to our state’s students. By creating a long-term and sustainable culture of philanthropy across the University System of Georgia, we are able to support and maintain a diverse variety of initiatives and programs. The USG Foundation works to support institutions so that they in turn can support students.
SCHOLARSHIPS
Through need-based scholarships given directly to institutions, the USG Foundation provides life changing education benefits to Georgia students across a wide range of socioeconomic backgrounds. The Foundation also manages endowment funds, maximizing investment returns and minimizing risk, and thus providing support for student scholarships.
$1,246,738
in total direct scholarship support to all 26 public colleges and universities of the University System of Georgia in fiscal year 2024.
For every scholarship awarded, there are thousands more students in need of support. It is our goal to make higher education attainable for deserving students who would not otherwise be able to attend a Georgia public college or university.
ANNUAL SCHOLARSHIPS
General annual scholarships may be established with any amount.
With a gift of $25,000 or more of expendable funds (payable over a five-year period), donors may establish a term-named annual scholarship. Named annual scholarships award the entire gift amount each year for immediate impact. Named annual scholarships remain named as long as there are funds in the account.
ENDOWED SCHOLARSHIPS
Donors may establish a permanently-named scholarship endowment with a minimum gift of $25,000 (payable as a five-year pledge, if desired). Annual disbursements from the endowment earnings are awarded forever in the name of the donor.
ENDOWMENT PORTFOLIO MARKET VALUE
The USG Foundation endowment portfolio market value is $7,930,110 (as of 6/30/2024). This totals the value of investment assets, which fund scholarships, research, and institutional priorities. The portfolio includes a professionally-managed mix of stocks, bonds, cash and alternative investments. Its value fluctuates with market performance and supports long-term sustainability while balancing current and future needs.
LIST OF SCHOLARSHIPS
ANNUAL SCHOLARSHIPS
Aflac Scholarship
Barner and Johnnie Mae Green Scholarship
Carroll Daniel Construction Scholarship
Chatham County Hometown Scholarship
Cherokee County Hometown Scholarship
Clayton County Hometown Scholarship
Elaine Baran Black Scholarship
Georgia Access Scholarship
Georgia Association of Physicians of Indian Heritage Scholarship
Georgia Film Academy Dramatic Writing Screenplay Competition
Glascock County Hometown Scholarship
Hall County Hometown Scholarship
Hancock County Hometown Scholarship
Institutional Advancement Scholarship
J.E. Dunn Student Scholarship
James H. Porter Academic Scholarship
Meriwether County Hometown Scholarship
Ruth Helen Diehl Scholarship Fund
Spalding County Hometown Scholarships
Student Housing and Food Insecurities Scholarship
Waffle House Construction Scholarship
ENDOWED SCHOLARSHIPS
Annie and Oliver Greene Endowed Scholarship
Billy Lovett Endowed Scholarship
Burke County Reparative Endowed Scholarship
Dr. Isaac J. Crumbly CDEP Legacy Endowed Scholarship
East Lake Scholars Endowed Scholarship
Eleanor Boykin Davis Endowed Scholarship
Elridge McMillan Endowed Scholarship
Gloria and George Brooks Endowed Scholarship
Henry and Amy Huckaby Endowed Scholarship
Jeffords Family Endowed Scholarship
Merryll Penson Endowed Scholarship
Neil and Mebane Pruitt Endowed Scholarship
Philip and Mary Hart Wilheit Hall County Endowed Scholarship
Regent Emeritus Donald M Leebern Jr Endowed Scholarship
Rosemary Harbeson McElhannon Endowed Scholarship
Sonny and Mary Perdue Family Endowed Scholarship
Steve and Lynne Wrigley Endowed Scholarship
Syfan Family Endowed Scholarship
USG Employee Sponsored Endowed Scholarship
ENDOWED SCHOLARSHIPS
Annie and Oliver Greene Endowed Scholarship
Billy Lovett Endowed Scholarship
Burke County Reparative Endowed Scholarship
Dr. Isaac J. Crumbly CDEP Legacy Endowed Scholarship
East Lake Scholars Endowed Scholarship
Eleanor Boykin Davis Endowed Scholarship
Elridge McMillan Endowed Scholarship
Gloria and George Brooks Endowed Scholarship
Henry and Amy Huckaby Endowed Scholarship
Jeffords Family Endowed Scholarship
Merryll Penson Endowed Scholarship
Neil and Mebane Pruitt Endowed Scholarship
Philip and Mary Hart Wilheit Hall County Endowed Scholarship
Regent Emeritus Donald M Leebern Jr Endowed Scholarship
Rosemary Harbeson McElhannon Endowed Scholarship
Sonny and Mary Perdue Family Endowed Scholarship
Steve and Lynne Wrigley Endowed Scholarship
Syfan Family Endowed Scholarship
USG Employee Sponsored Endowed Scholarship
REAL ESTATE INVESTMENTS
The USG Foundation, in partnership with the University System of Georgia Board of Regents, finances capital improvement projects and new facilities at USG institutions. We provide below-market lease terms to finance construction, renovation, or expansion of facilities. The USG Foundation also provides refinancing of existing debt through tax-exempt bond financing. These partnerships result in reduced student fees, increased building efficiencies, and enhanced risk management for institutions across our portfolio.
USG Real Estate Foundation LLCs on 15 Campuses with a Total Portfolio Value of $537M (as of 6/30/2024)
Housing Beds
Buildings
Parking Spaces
Stadiums With 18,000 Seats
4,525,935 Square Feet of Student Housing, Student Centers, Bookstores, Theaters, Recreation Centers, and Stadiums
88 BUILDINGS
● 60 Student Housing
● 2 Bookstores
● 2 Dining Halls
● 3 Parking Decks
● 12 Athletic Facilities
● 4 Student Centers
● 3 Student Recreation Centers
● 1 Student Activities Center
● 1 Special Collections
USG REF LLCs Portfolio
ENTITY: NET ASSETS
USG Real Estate Foundation I, LLC: $65,503,147
USG Real Estate Foundation II, LLC: $52,479,053
USG Real Estate Foundation III, LLC: $46,463,090
USG Real Estate Foundation IV, LLC: $37,357,418
USG Real Estate Foundation V, LLC: $34,357,240
USG Real Estate Foundation VI, LLC: $23,087,125
USG Real Estate Foundation VII, LLC: $49,039,875
USG Real Estate Foundation VIII, LLC: $30,545,210
USG Real Estate Foundation IX, LLC: $19,348,230
USG Real Estate Foundation X, LLC: $21,584,168
USG Real Estate Foundation XI, LLC: $51,218,656
USG Real Estate Foundation XII, LLC: $72,494,370
USG Real Estate Foundation XIII, LLC: $21,010,154
TOTAL PORTFOLIO VALUE: $537M - FMV as of 6/30/24
USG REF LLCs Portfolio
ENTITY: NET ASSETS
USG Real Estate Foundation I, LLC: $65,503,147
USG Real Estate Foundation II, LLC: $52,479,053
USG Real Estate Foundation III, LLC: $46,463,090
USG Real Estate Foundation IV, LLC: $37,357,418
USG Real Estate Foundation V, LLC: $34,357,240
USG Real Estate Foundation VI, LLC: $23,087,125
USG Real Estate Foundation VII, LLC: $49,039,875
USG Real Estate Foundation VIII, LLC: $30,545,210
USG Real Estate Foundation IX, LLC: $19,348,230
USG Real Estate Foundation X, LLC: $21,584,168
USG Real Estate Foundation XI, LLC: $51,218,656
USG Real Estate Foundation XII, LLC: $72,494,370
USG Real Estate Foundation XIII, LLC: $21,010,154
TOTAL PORTFOLIO VALUE: $537M - FMV as of 6/30/24
FINANCIAL HIGHLIGHTS
DONORS BY CATEGORY
PERCENTAGE OF GIVING BY TYPE
Expenses
INSTITUTIONAL ADVANCEMENT
CAPACITY BUILDING GRANTS
The USG Foundation’s capacity building grants help institutions build financial stability and increase flexibility as they deepen their engagement with the philanthropic community. Thanks to a generous donation from TUFF, the USG Foundation offered an opportunity for USG Advancement Offices to present a competitive proposal for capacity building. Proposals were to demonstrate either a 1-year or 3-year plan to significantly increase philanthropic investments best suited for their donor base and awards were chosen by the Foundation’s CBG Committee.
Two institutions were selected this year to receive CBG awards based on the grant criteria.
- Kennesaw State University - $50,000
- Middle Georgia State University - $50,000
The following institutions were granted CBG awards in prior fiscal years, but received a payment towards the amount listed below in FY2024.
- College of Coastal Georgia: $85,000
- Fort Valley State University: $85,000
- Georgia Southern University: $50,000
- Georgia Southwestern University: $50,000
PROFESSIONAL DEVELOPMENT
The USG Foundation is dedicated to fostering professional development within the system. Through a series of tailored workshops, the Foundation aims to equip professionals with the latest knowledge and skills.
The Georgia Education Advancement Council (GEAC) Conference provided a valuable platform for USG Chief Advancement Officers to gather and explore critical issues in higher education advancement. A workshop hosted by the Foundation delved into topics such as strategic alignment, the future of fundraising, and the role of philanthropy within the USG. By examining trends like generational shifts and AI, attendees gained insights to shape the future of fundraising and strengthen their institutions' philanthropic efforts.
Additionally, the Foundation has conducted workshops focused on public-private ventures, providing valuable insights into navigating the current market, valuation of property, insurance market updates, and financial covenant considerations.
Continuous learning and professional development are essential for staying updated on industry trends, enhancing problem-solving abilities, and ultimately contributing to the overall success of the university system.
MEET THE STUDENTS
Blanca Martinez
Georgia Southwestern State University
Business Administration/Marketing
"Receiving this scholarship has been a transformative experience that has turned many of my dreams into reality. As a first-generation college student, it has allowed me to pursue my passion for marketing without the heavy burden of financial stress. This support has opened doors to once-in-a-lifetime opportunities, such as being part of two panels hosted by WomenLead, were I had the chance to share stories and experiences, in past leadership roles. Such opportunities have enriched my education and prepared me for a successful career. With the scholarship, I can focus on my academic and personal goals, such as excelling in my studies, building meaningful connections in the marketing industry, and eventually giving back to my community by using my skills to amplify their voices and drive positive change."
MEET THE STUDENTS
Daniels Eloka
Georgia State University
Nursing
"Receiving this scholarship has boosted my self-confidence, knowing that I not only completed a very important task, but also took the responsibility of creating a foundation forgetting me closer to my career goals. I feel blessed that I am able to receive this Scholarship to help fulfill my dream and I will prove that I do have what it takes to not only be a successful student and an outstanding nurse, but also be a blessing to my community which I find myself in and the world at large.
Being the first in my family to attend college, I have always aspired to learn the right way to help and assist people, especially the elderly and the less privileged. I'm able to relay excellent health habits to the public on how to live a healthy lifestyle to ensure a safe environment for everyone."
MEET THE STUDENTS
Joel Elorza Jimenez
Georgia Institute of Technology
Building Construction
"As a first-generation student, I've faced challenges and made mistakes while navigating university life. This scholarship will not only aid in my continued studies at the university but also provide financial security should any issues arise. I am extremely grateful for this opportunity and the assistance it offers in my academic journey."
WHY I CHOSE MY FIELD OF STUDY
"My decision to pursue a bachelor's degree in construction management was largely influenced by my family, particularly my father. He has been involved in the construction industry since he was 16 years old and currently works as a contractor, renovating and remodeling single-family homes. His occupation and knowledge exposed me to the industry and provided me with valuable hands-on experience."
BOARD OF REGENTS SCHOLARSHIP GALA
GALA HIGHLIGHTS
The 20th Annual Regents' Scholarship Gala was a huge success and raised over $1.85 million to support higher education across the University System of Georgia.
These gifts will go toward need-based scholarships and philanthropic capacity-building efforts around the state in 2024 and 2025 for the support of our students and their institutions. Dan T. Cathy, Chairman of Chick-fil-A, Inc., was honored with the prestigious Elridge McMillan Lifetime Achievement Award at the Gala, the highest honor bestowed by the USG Foundation. Governor Brian P. Kemp and First Lady Marty Kemp joined donors, legislators, students, Board of Regents members, and USG presidents to celebrate the achievements of the foundation and its impact on the lives of countless students.
In a historic partnership, the USG Foundation also announced at the Gala a $10 million commitment from Fostering Success Act, Inc. to establish a first-of-its-kind scholarship fund for foster youth in Georgia. This marked largest single gift in the USG Foundation’s history and is being leveraged as a challenge match to the 26 USG institutions in an effort to multiply the impact of this transformational gift.
ELRIDGE MCMILLAN LIFETIME ACHIEVEMENT AWARD
Dan T. Cathy, Chairman of Chick-fil-A, Inc., was honored with the prestigious Elridge McMillan Lifetime Achievement Award, the highest honor bestowed by the USG Foundation. Governor Brian P. Kemp and First Lady Marty Kemp joined donors, legislators, students, Board of Regents members, and USG presidents to celebrate the achievements of the foundation and its impact on the lives of countless students.
STRATEGIC PARTNERS
PROGRAM MANAGEMENT
The USG Foundation provides fiscal management services to these USG
initiatives and programs:
GEORGIA FILM ACADEMY
The Georgia Film Academy fosters collaboration among institutions to offer an 18 credit-hour series of college courses in film, television, digital entertainment, e-sports, and game development.
GEORGIA FINTECH ACADEMY
The Georgia FinTech Academy is a diversity talent development initiative for the fintech industry. Georgia Public Library Service Funds support the Georgia Public Libraries, Georgia Library for Accessible Statewide Service, Entrepreneurial Learning Initiative, and Tech Boot Camps.
GEORGIA PUBLIC LIBRARY SERVICE
Funds support the Georgia Public Libraries, Georgia Library for Accessible Statewide Service, Entrepreneurial Learning Initiative, and Tech Boot Camps.
USG AFRICAN-AMERICAN MALE INITIATIVE
The African-American Male Initiative is a system-wide initiative designed to increase the number of African-American males who complete their postsecondary education from any USG institution.
USG GEORGIA ARCHIVES
The Georgia Archives identifies, collects, provides access to, and preserves Georgia’s historical documents.
BOARD OF TRUSTEES
Sonny Perdue, Chancellor
Ex-Officio
University System of Georgia
Cade Joiner, Chair
Founder and Board Chairman
Shred-X Document Destruction
REGENT
Elizabeth A. Terrell,
Vice Chair
Vice President
UPS
Ty Smith, Treasurer
Senior Vice President
Regions Bank
T. Dallas Smith, Secretary
Founder and CEO
T. Dallas Smith & Company
REGENT
Neil L. Pruitt Jr., USGREF Manager LLC-President
Chairman and CEO
PruittHealth
REGENT
M. Brian Blake, President
President
Georgia State University
Christine Boucher
Deputy General Counsel Chief &
Compliance Office
Delta
George Brooks
Retired from UPS
Rich Johnson
Assistant VP-Legislative & Regulatory Affairs
AT&T
Sarah Elizabeth Langford
Executive Director
Development Authority of Fulton County
Donald Leebern III
President
Georgia Crown Distributing Co.
Kelly Loeffler
Founder
Greater Georgia
Andy Macke
Infrastructure Deployment Executive
Corporate Environmental Risk Management
John J. “Jay” Neely, III
Vice President, Law & Public Affairs
Gulfstream Aerospace Corporation
Teddy Russell
President
Russell Landscape Group
Courtney I. Smith
Senior Vice President,
Market Manager
The PNC Financial
Services Group
Julie Smith
Vice President of State and
Local Government Affairs, South Region
Verizon
Malcolm Smith
VP, State Affairs, State
Government Relations
Aflac
James K. “Jim” Syfan III
Chairman and CEO
Syfan Logistics, Inc.
REGENT
THANK YOU!
Scott Bryant
CEO | Vice Chancellor for Development
University System of Georgia Foundation
+1 (404) 805-0642
scott.bryant@usg.edu
www.usgfoundation.org