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The University of North Georgia Real Estate Foundation, Inc., also referred to as the UNG REF, serves as the institution’s non-exclusive facilitator and holder of leases, real estate assets, and public-private capital projects. The UNG REF is responsible for providing the institution with reports of external audits of their income and disbursement. UNG REF audits are attached to the institutions Annual Financial Report and submitted to the University System of Georgia. The UNG Real Estate Foundation has an independent board. The University of North Georgia Real Estate Foundation is a legally separate, tax exempt organization whose activities primarily support University of North Georgia by serving as the institution’s facilitator and holder of public-private capital projects. University of North Georgia Real Estate Foundation has been determined significant to the State of Georgia for the past few years; Therefore, the UNG REF’s financial statements are not included in the University of North Georgia’s annual financial statements, but instead are reported as a component unit in the Comprehensive Annual Financial Report of the State of Georgia (CAFR).

Board of Trustees


  • Mr. Robert S. Mathews: Chairman
  • Mr. Gary S. Osley: Vice Chairman
  • Mr. James A. Faulkner: Secretary/Treasurer
  • Mr. Jeffrey Tarnowski: Trustee 
  • Mr. Frank (Mac) J. McConnell: Trustee
  • Mrs. Mary Helen McGruder: Trustee
  • Dr. Bonita Jacobs: Trustee
  • Mr. E. Paul Stringer: Trustee
  • Mrs. Beth Baldwin: Trustee
  • Mr. Richard White: Trustee
  • Mr. Dan O'Leary: Trustee
  • Mr. Bruce Howerton: Consultant
  • Mr. Gerald Sullivan: Administrative Officer