Florida International University Foundation Inc
- Assets
- $475.7m
- Revenue
- $154.6m
- Investments
- $255.4m
- Employees
- 0
- Location
- Miami, FL
- Founding
- 12/1969
- Data as of
- 06/2021
- EIN
- 23-7047106
Organization Overview
Florida International University Foundation Inc is located in Miami, FL. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida International University Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Florida International University Foundation Inc generated $154.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.3% each year . All expenses for the organization totaled $43.0m during the year ending 06/2021. While expenses have increased by 7.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Florida International University Foundation Inc has awarded 237 individual grants totaling $193,450,899. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE, SOLICIT, RECEIVE AND ADMINISTER GIFTS AND BEQUESTS OF PROPERTY AND FUNDS FOR SCIENTIFIC, EDUCATIONAL AND CHARITABLE PURPOSES FOR FIU AND ITS OBJECTIVES.
Describe the Organization's Program Activity:
THE FLORIDA INTERNATIONAL UNIVERSITY FOUNDATION ACCEPTS CHARITABLE DONATIONS TO SUPPORT FLORIDA INTERNATIONAL UNIVERSITY IN ITS GOAL TO BE A LEADING URBAN PUBLIC RESEARCH UNIVERSITY FOCUSED ON STUDENT LEARNING, INNOVATION, AND COLLABORATION. THE FOUNDATION SUPPORTS THE UNIVERSITY'S MISSION BY PROVIDING FUNDS TO SUPPORT A DIVERSE STUDENT POPULATION, EXCEPTIONAL FACULTY, CUTTING EDGE RESEARCH, MODERN FACILITIES, AND COLLABORATIVE ENGAGEMENT WITH OUR LOCAL AND GLOBAL COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adalio T Sanchez Vice Chairperson | OfficerTrustee | 1 | $0 |
Richard Brilliant Immediate Past Chairperson | OfficerTrustee | 1 | $0 |
Jill M Granat Secretary | OfficerTrustee | 1 | $0 |
Humberto Cabanas Chairperson | OfficerTrustee | 1 | $0 |
Andre L Teixeira Treasurer | OfficerTrustee | 1 | $0 |
Howard R Lipman CEO | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Concord Advisory Group Ltd Investment Manager Consultant | 6/29/21 | $101,500 |
Capital City Consulting Llc Lobbying | 6/29/21 | $145,000 |
Cambridge Associates Llc Investment Officer | 6/29/21 | $442,705 |
Jpmorgan Chase Investment Officer & Custodian | 6/29/21 | $264,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $365,503 |
| Fundraising events | $10,148 |
| Related organizations | $9,700,747 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $86,198,401 |
| Noncash contributions included in lines 1a–1f | $3,525,970 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $96,274,799 |
| Total Program Service Revenue | $0 |
| Investment income | $2,144,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $53,851 |
| Net Rental Income | $366,951 |
| Net Gain/Loss on Asset Sales | $55,738,127 |
| Net Income from Fundraising Events | -$2,582 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $154,605,877 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,736,723 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $81,500 |
| Fees for services: Lobbying | $361,430 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $809,005 |
| Fees for services: Other | $48,451 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $411,898 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,895,381 |
| Total functional expenses | $42,979,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,393,802 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,974,582 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,890 |
| Net Land, buildings, and equipment | $16,201,044 |
| Investments—publicly traded securities | $155,970,071 |
| Investments—other securities | $255,359,329 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $766,054 |
| Total assets | $475,743,772 |
| Accounts payable and accrued expenses | $563,166 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $15,631 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,075,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,786,299 |
| Total liabilities | $5,440,096 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $82,577,707 |
| Paid-in or capital surplus, or land, building, or equipment fund | $13,171,584 |
| Retained earnings, endowment, accumulated income, or other funds | $374,554,385 |
| Total liabilities and net assets/fund balances | $475,743,772 |
Grants Awarded
Over the last fiscal year, Florida International University Foundation Inc has awarded $25,736,723 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
HERBERT WERTHEIM COLLEGE OF MEDICINE PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $3,971,304 |
COLLEGE OF ARTS SCIENCES & EDUCATION PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $2,375,970 |
ACADEMIC AFFAIRS PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $2,179,109 |
CHAPLIN SCHOOL OF HOSPITALITY & TOURISM MANAGEMENT PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $1,832,538 |
ATHLETICS FUND - GOLDEN PANTHERS PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $1,604,756 |
COLLEGE OF BUSINESS ADMINISTRATION PURPOSE: UNIVERSITY/STUDENT ASSISTANCE | $1,594,308 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Florida International University Foundation Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Kelsie Karpiak Memorial Scholarship Foundation Inc St Augustine, FL PURPOSE: SCHOLARSHIP GRANT FOR EXCEPTIONAL STUDENT | $2,000 |
Chapman Foundation Greenville, SC PURPOSE: 501(C)(3) EDUCATIONAL INSTITUTION CONTRIBUTION | $500 |
Endowment Analysis
| Beg. Balance | $218,684,250 |
| Earnings | $63,059,221 |
| Net Contributions | $6,375,715 |
| Other Expense | $11,709,142 |
| Ending Balance | $276,410,044 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |