Georgia Trust for Historic Preservation Inc

What it reported doing in 2024

The trust operates a revolving fund used to purchase, stabilize, and/or rehabilitate, and then resell historic properties to preservation-minded buyers. In july 2024, the trust purchased the first national bank building in louisville, goergia. Efforts are underway to stabilize the structure by replacing the roof and investing in potential uses for the historic structure. To further the mission of protection, the organization places and administers eighty-two preservation easements on sites throughout the state of Georgia which are vital for preserving historic properties and ensuring their future protection. The newest addition to the program is park street united methodist church in atlanta's west end. This gothic revival style building, now owned by clark atlanta university, houses its art and music departments. Annually, the trust publishes and promotes a list of historic sites threatened by demolition, neglect, lack of maintenance, or inappropriate development called places in peril. The intention is to encourage owners to preserve these places. In 2024, the places in peril porgram achieved significant milestones. The lee street bridge project in americus was redesigned with gdot and local partners, preserving the historic calvary episcopal church and its district. Additionally, the endangered building at 229 auburn street in atlanta's sweet auburn district is set for redevelopment, with advocates striving to ensure its rehabilitiation to maintain the area's national significance. The trust awarded 110,000 in grants to fourteen historic sites and awarded two fellowships totaling 6,850 during this fiscal year. Projects include the exterior restoration of the desoto theatre in rome, revitalization of savannah gray brick at massie school, repairs to the fresh air home pavilion on tybee island and window restoration at the thomasville center for the arts. The Georgia trust also presents preservation awards annually which recognize excellence in preservation, restoration, and stewardship. During the fiscal year, twenty-six awards were given including eleven for excellence in rehabilitation, two for excellence in stewardship, and two for excellence in restoration, among others. The trust continues to spearhead efforts to expand tax credit legislation. During the fiscal year, the Georgia trust began the process to present a bill to the Georgia legislature to increase the annual cap for commercial hrtc projects. In addition, an advocacy toolkit was developed to provide enhanced education for advocates of endangered historic sites. The toolkit includes techniques to identify historc sites, strategies for building support, how to engage with elected officials, undertanding designations, and funding opportunities. This resource promotes early advocacy to safeguard Georgia's historic resources and prevents demolition and inappropriate development.

Financial Efficiency

• Mission deployment rate: 82%; rating input score 82
• Program expense ratio: 86.4%; rating input score 86
• Fundraising efficiency: $11.89 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 74.3%; rating input score 74; 20th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 14.9%; rating input score 71; 71st percentile among comparable filings
• Total-asset coverage ratio: 6.2; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 79; 79th percentile among comparable filings
• Officer compensation ratio: 12.1%; rating input score 24; 24th percentile among comparable filings

Growth

• Program expense growth: 7.5% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
• Asset growth: 3.3% per year; rating input score 100; 26th percentile among comparable filings