Rowen Foundation Inc

What it reported doing in 2024

See schedule o gwinnett county, Georgia (the "county or "gwinnett county') has an opportunity to develop 1800 acres in the county, located centrally between three major economic centers in the state of Georgia (atlanta, athens, and gainesville) and equidistant from three major research universities (the university of Georgia, Georgia institute of technology, and emory university). The county's vision is to develop the land into a district for agricultural, medical, environmental, and high technology research as well as research-related manufacturing and support services (the "district'). The corporation will promote social welfare, including, but not limited to: (i) economic development by attracting education, training, research, job creation, innovation, and transformation to the corporation's property and the surrounding area; (ii) advancing public health for the community at large; (iii) providing a place where the land, its collective history, and the development of it and the corporation's other assets are managed consistently and respectfully for the benefit of the community; and (iv) reducing the burdens of government. The corporation's economic development activities are two-fold: real-estate programming will attract business to the district and to surrounding areas; innovation programming defines the ways in which the corporation will create value for the county, the state of Georgia, and private and institutional partners, distinguishing itself in a global innovation economy. Analysis of business and academic resources in Georgia, as well as international pressures for innovation, reveal three inter-related areas of focus for the district's tenants and property owners: medical research, technology, and approaches to preventative care; agricultural research, technology, and environmental sensitivity; and environmental research and technology that can reduce the imprint of all sectors on the environment. It is the interrelatedness of the district's three areas of focus that will be the primary drivers of economic development. The district's design, amenities, and character will appeal to many public and private institutions, but the district's competitive advantage and its ability to add value to gwinnett county and Georgia lie in the unique collaboration that can take place there. The three areas of focus for the district- medical, agricultural, and environmental - are all directly correlated with advancing public health. Each of these areas of public health cannot advance without consideration of all of them. For instance, digital monitoring of chemicals used in agriculture can reduce the impact of chemicals on the environment and improve the health of community members. More efficient production of food can decrease the amount of land needed for agriculture. The growth in wholistic approaches to health rely on healthy eating and clean air and water. Not only will research and other activities taking place in the district focus on health and the environment, among other disciplines, but the district itself will promote healthy lifestyles by developing parks, walk/run/bike paths and spaces for social, business, and educational gatherings.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 83.8%; rating input score 84
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 6 of 7 controls in place; rating input score 86
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -5,472.5%; rating input score 2; 2nd percentile among comparable filings
• Total-asset coverage ratio: 26.12; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 1.12; rating input score 5; 5th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: 24.2% per year; rating input score 100; 87th percentile among comparable filings
• Revenue growth: 41.8% per year; rating input score 100; 97th percentile among comparable filings
• Asset growth: 9.5% per year; rating input score 100; 79th percentile among comparable filings