The Georgia Tech Foundation provides financial assistance to the

Georgia Institute of Technology The Georgia Institute of Technology, commonly referred to as Georgia Tech or, in the state of Georgia, as Tech or The Institute, is a public research university and institute of technology in Atlanta, Georgia. Established in 1885, it is part ...

. It was founded in 1932 and chartered under the tax laws of the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

as a non-profit

501(c)(3) A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of ...

corporation. In 2013, the Foundation provided $130.8 million in support of the Institute, including $20.7 million in scholarships, fellowships and loan funds to 3,563 students. As of June 30, 2013, the Foundation had $1.729 billion in assets. In 2013, the Foundation provided financial support for 200 students to participate in the

G. Wayne Clough Gerald Wayne Clough (born September 24, 1941) is President Emeritus of the Georgia Institute of Technology (Georgia Tech) and former Secretary of the Smithsonian Institution. A graduate of Georgia Tech in civil engineering, he was the first alu ...

Georgia Tech Promise Program, a transforming scholarship program for

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...

residents whose family income falls below 150 percent of the federal poverty level. Students who qualify for the program can graduate from Georgia Tech debt free.

History

The Georgia Tech Foundation came into existence in 1932. As the result of a petition for a charter by several prominent alumni, including

Y. Frank Freeman Young Frank Freeman (14 December 1890 – 5 February 1969) was studio head at Paramount Pictures from 1938 to 1959. Freeman was born in Greenville, Georgia, and graduated from the Georgia Institute of Technology in 1910. In addition to his wo ...

('10), William H. Glenn ('10), Robert Gregg ('05), and Frank Neely ('04), the Georgia Tech Alumni Foundation, Inc. was incorporated in January 1932. Originally formed to sell insurance policies to alumni, in 1950 the organization's charter and bylaws were changed, and in 1954, the organization became known as the Georgia Tech Foundation, Inc."https://www.library.gatech.edu/archives/finding-aids/view?docId=ead/UP028-ead/UP028-ead.xml;query=;brand=default" Georgia Tech Foundation Publications Retrieved 2016-11-21

References

External links

Official website
Educational foundations in the United States Georgia Tech Organizations established in 1932 Charities based in Georgia (U.S. state) {{US-org-stub