About the Foundation

Raising funds, building relationships

The Regents’ Scholarship Gala

In 2003, the University System of Georgia Foundation, Inc. established the Regents’ Awards for Excellence in Education to recognize the contributions and achievements of its students, faculty, alumni and supporters. Each year at this prestigious event, the University System of Georgia Foundation Board presents the Regents’ Hall of Fame Awards and the McMillan Lifetime Achievement Award to honor faculty and alumni of the University System of Georgia. The event also raises funds to support the work of the University System and provide merit- and need-based scholarships for students attending USG colleges and universities.

Today, the event is known as the Regents’ Scholarship Gala to align more closely with the purpose of the event. Every year this event boasts a tremendous gathering of representatives from our colleges and universities, institutional foundations, distinguished faculty and administrators, state and federal elected leaders, public and private supporters of public higher education in Georgia. They come to support the scholarship program and to honor our award recipients in the following categories:

The 2021 Regents’ Scholarship Gala will be held on Thursday, September 9, 2021 at the Atlanta History Center.

Corporate Partnerships

As state dollars available for higher education continue to diminish, never has academic achievement, need based financial aid, and private support of higher education been so vital to the future of Georgia.

The corporate and philanthropic communities have been exceedingly generous in their support of the Regents’ annual event, USG special initiatives and scholarships programs. Through their support, the Foundation was able to award more than $1 million in the past three years alone, and provide support to the University System to advance its work in educating more than 333,000 students.

If you would like to support higher education in Georgia, you can do so in a number of ways.

For more information, contact the USG Foundation Vice Chancellor of Development at 404-962-3056 or Karen.McCauley@usg.edu

Facilitating financing of capital improvement projects at USG institutions

The USG Foundation, in partnership with the University System of Georgia Board of Regents, facilitates financing of capital improvement projects and new facilities at USG institutions through direct financing leases. The USG Foundation Board of Trustees create disregarded limited liability corporation (LLC) subsidiaries with the USG Foundation as the sole member to house these projects. All of these projects have a ground lease/rental agreement arrangement. The arrangement consists of the land on which the facilities are constructed on are leased to the applicable LLC by the Board of Regents pursuant to a ground lease. The LLC in turn leases the related facility back to the Board of Regents/Institution through annual rental agreements. This allows bundling construction projects on various USG campuses by issuing larger, tax-exempt bonds or by refinancing existing tax-exempt bonds. Advantages to this process include cost effective fees, increased efficiencies, and enhanced risk management.

In June 2017, the Board of Trustees created a separate real estate board, USGREF Manager, LLC, to manage all USG Real Estate Foundation entities and leases. Members of this board are appointed by and from the full USG Foundation board and serve a 3-year term.

As of June 30, 2020, the Foundation has entered into twenty-five agreements with the Board of Regents to lease properties for use by sixteen institutions in the University System of Georgia. The University System of Georgia Foundation, Inc. and Affiliates are comprised of the USG Foundation, USGREF Manager, LLC, and the following real estate foundations with the net assets valued at approximately $420M with an outstanding debt balance of approximately $410M. This represents an 80% increase in the portfolio value in past 5 years.

USG Real Estate Foundation I, LLC
* Albany State College (Darton Campus)
* Dalton State Foundation
* Fort Valley State University
* Georgia College & State University
* Kennesaw State University (Marietta Campus)
* University of North Georgia (Gainesville Campus)
USG Real Estate Foundation II, LLC
* Columbus State University
* Kennesaw State University (Marietta Campus)
USG Real Estate Foundation III, LLC
* College of Coastal Georgia
* Georgia College & State University
* Savannah State University
* University of West Georgia
USG Real Estate Foundation IV, LLC
* Fort Valley State University
USG Real Estate Foundation V, LLC
* South Georgia State College
USG Real Estate Foundation VI, LLC
* Gordon State College
USG Real Estate Foundation VII, LLC
* Middle Georgia State University (Eastman & Cochran Campus)
USG Real Estate Foundation VIII, LLC
* Georgia Southwestern University
USG Real Estate Foundation IX, LLC
* Middle Georgia State University (Macon Campus)
USG Real Estate Foundation X, LLC
* Albany State University
USG Real Estate Foundation XI, LLC
* Albany State University

Providing financial management services for USG programs and private grants held in the Foundation

The USG Foundation provides professional, financial and administrative services to the Office of the Chancellor, the Board of Regents, the USG system office and institutions to advance the work of the University System as a whole.

Fund accounts fall in to four categories:

  1. Grants: The USG Foundation serves as the administrative home for private grants awarded to University System Office staff or education agency partners. All grant awards must feature the strategic priorities of the Board of Regents and involve or affect multiple University System institutions. Grants currently held in the Foundation are

    • The Coca-Cola Foundation to support Walk Georgia and Georgia Shape
    • Hispanic and Latino College Completion from The Goizueta Foundation
  2. Scholarships: Funds raised through the Regents’ annual event are designated for the Regents’ Scholarship Fund and the USGF Corpus. The proceeds have been used to fund need-based scholarships for students attending all USG institutions. Read More about scholarships »

  3. USG Discretionary Accounts: The USG Foundation provides financial and administrative services for USG accounts that are privately funded. Currently, the Foundation provides financial management of the fund accounts of:

    • The Office of the Chancellor - Discretionary Funds used to advance the work of the University System of Georgia
    • The Board of Regents – Donated funds to defray the costs of Board of Regents and Special Committee meetings
    • Georgia Public Library System - Private funding received to support the library programs
    • Library Services - Private funding received to support the work of Library Services
  4. Special Programs and Initiatives: The USG Foundation provides financial and administrative services for special accounts designated for special initiatives. Current initiatives for which the Foundation provides services are:

    • The Georgia State Charitable Giving Campaign – Coordinating funds raised by the USG Atlanta and Athens Central Offices to benefit the USG Foundation and all eligible charities in the statewide campaign.