# Georgia State University Foundation Georgia State University Foundation is an Endowment based in Atlanta, United States. ## Overview - **Organization type:** Endowment - **Headquarters:** Atlanta, United States - **Region:** North America - **Address:** Atlanta, Georgia, United States - **Assets under management:** $220M (Altss estimate) - **Website:** giving.gsu.edu ## Regulatory record - **Reports private funds:** No ## About The Georgia State University Foundation serves as the principal fundraising and asset-management arm for Georgia State, a public research university that has transformed from a commuter school into a major anchor of downtown Atlanta. Cheryl Harrelson leads the foundation as president and vice president for university advancement, while Kevin Lofton, former CEO of CHI Health, chairs the board of trustees. The foundation's trajectory has been shaped by a deliberate campus expansion strategy that converted gifts and land acquisitions into enduring assets, most visibly the conversion of the former Turner Field into Georgia State Stadium. Investment oversight falls to a committee chaired by board vice chair Mary Stokes. The foundation allocates across venture capital fund-of-funds, secondaries, and direct commercial real estate in downtown Atlanta. Notable holdings include 25 Park Place (SunTrust Tower), 100 Edgewood Avenue, and the Citizens Trust Building at 75 Piedmont Avenue — properties that serve both income-producing and university footprint purposes. A student-managed investment fund provides experiential education while exposing undergraduates to portfolio construction. The $80M campus revitalization commitment from the Robert W. Woodruff Foundation, disclosed in prior foundation communications, accelerated mixed-use development including the Panther Quad project. The foundation's board includes experienced allocators from sectors adjacent to its portfolio. Trustee Tammy K. Jones, CEO of Basis Investment Group, and Janine Anthony Bowen, a partner at BakerHostetler, serve on the investment and real estate committees, bringing institutional real estate and legal structuring expertise. No dedicated investment staff headcount is publicly disclosed, consistent with a committee-led governance model common among endowments of this asset base. The foundation participates in NACUBO's annual endowment study and engages with the Association of Governing Boards, signaling standard benchmarking practices. The foundation's structural differentiator is its embedded real estate portfolio — a collection of downtown Atlanta properties that blurs the line between campus facilities and income-generating assets. Unlike endowments that hold real estate only through comingled funds, GSUF directly carries commercial buildings that serve the university's geographic consolidation strategy while producing returns. This dual-use model, accelerated by the Woodruff Foundation's capital, provides defensive ballast against public-market volatility and ties the endowment's performance to Atlanta's urban core in a way few peers replicate. ## Sectors - Real Estate - Secondaries & Special Situations ## People - Cheryl Harrelson — President, GSUF and Vice President for University Advancement - Kevin Lofton — Chair, Board of Trustees - Mary Stokes — Vice Chair, Board of Trustees and Chair, Investment Committee ## Questions ### Who runs investment decisions at Georgia State University Foundation? The Investment Committee, chaired by board vice chair Mary Stokes, oversees portfolio decisions. The committee includes trustees with institutional asset management backgrounds, such as Tammy K. Jones of Basis Investment Group and Janine Anthony Bowen of BakerHostetler. No separate chief investment officer is named in available records. ### How is GSUF's real estate portfolio structured differently from typical endowments? The foundation holds direct ownership of several downtown Atlanta commercial properties, including 25 Park Place and 100 Edgewood Avenue, rather than relying solely on comingled real estate funds. These buildings serve both income-producing and university footprint purposes, making the portfolio tightly linked to Georgia State's campus consolidation strategy. ### Does the foundation invest through fund managers or direct deals? The foundation uses a mix: fund-of-funds for venture capital exposure, direct ownership of commercial real estate in Atlanta, and participation in secondaries. It also maintains a student-managed investment fund for experiential education purposes. ### How is the Robert W. Woodruff Foundation connected to GSUF? The Woodruff Foundation committed $80 million for campus revitalization projects, including the Panther Quad mixed-use development, as part of a broader effort to transform Georgia State's downtown Atlanta campus. This is a philanthropic grant, not an investment partnership. ### What is the relationship between GSUF and Georgia State University Advancement? The foundation is a division of University Advancement, with the same president — Cheryl Harrelson — leading both entities. This integrated structure aligns fundraising with endowment management but also means the foundation does not operate as a fully independent investment office. ## Related profiles - [Edgerley Family Foundation](https://altss.com/profile/edgerley-family-foundation) - [Middlesex School](https://altss.com/profile/middlesex-school) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/georgia-state-university-foundation-gsuf Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology