Florida Polytechnic University Foundation Inc
- Assets
- $9.1m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lakeland, FL
- Founding
- 12/2013
- Data as of
- 06/2022
- EIN
- 46-1426289
Organization Overview
Florida Polytechnic University Foundation Inc is located in Lakeland, FL. The organization was established in 2013. 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 Polytechnic 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 06/2022, Florida Polytechnic University Foundation Inc generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED TO HELP SUSTAIN THE MISSION OF FLORIDA POLYTECHNIC UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLORIDA POLYTECHNIC UNIVERSITY FOUNDATION FOSTERS THE MISSION OF THE UNIVERSITY AND HAS PROVIDED SCHOLARSHIP SUPPORT TO THE UNIVERSITY EACH YEAR SINCE IT'S INAUGURAL CLASS IN 14-15.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Harrell III Vice-Chair | OfficerTrustee | 1.25 | $0 |
Alice Hunt Chair | OfficerTrustee | 1.25 | $0 |
Randy Avent President | OfficerTrustee | 0 | $0 |
Kathy Bowman CEO | OfficerTrustee | 25 | $0 |
Todd Baylis Director | Trustee | 1.25 | $0 |
Cindy Alexander Director | Trustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,003,148 |
| Noncash contributions included in lines 1a–1f | $22,921 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,003,148 |
| Total Program Service Revenue | $0 |
| Investment income | $97,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $353,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,454,708 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $720,309 |
| 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 | $29,000 |
| Fees for services: Lobbying | $257,225 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $178,894 |
| Advertising and promotion | $1,865 |
| Office expenses | $19,584 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,180 |
| 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 | $865 |
| All other expenses | $6,365 |
| Total functional expenses | $1,295,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $564,769 |
| Savings and temporary cash investments | $62,918 |
| Pledges and grants receivable | $2,403,485 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,095,922 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,127,094 |
| Accounts payable and accrued expenses | $2,782,144 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,782,144 |
| Net assets without donor restrictions | $806,855 |
| Net assets with donor restrictions | $5,538,095 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,127,094 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Florida Polytechnic University Foundation Inc has recieved totaling $185,472.
| Awarding Organization | Amount |
|---|---|
Ronald J York Scholarship Fund Barre, VT PURPOSE: SCHOLARSHIP FUNDS | $70,000 |
Alexander J Grossman Scholarship Foundation Birmingham, AL PURPOSE: SCHOLARSHIP | $28,500 |
Gidel Family Foundation Inc Dallas, TX PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $20,000 |
Engineering Information Foundation Inc New York, NY PURPOSE: "MULTIFACETED EDUCATION FOR CREATING ENGINEERING AWARENESS AMONG MIDDLE AND HIGH SCHOOL GIRLS" PROGRAM. | $15,000 |
Ronald J York Scholarship Fund Barre, VT PURPOSE: SCHOLARSHIP FUNDS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
Oxbridge Academy Foundation Inc West Palm Beach, FL | $65,288,192 | $19,905,008 |
University Of West Florida Foundation Inc Pensacola, FL | $164,565,433 | $23,515,652 |
Gator Boosters Inc Gainesville, FL | $35,445,358 | $17,089,938 |
The University Of North Florida Foundation Inc Jacksonville, FL | $189,463,504 | $37,925,600 |
Usf Health Professions Conferencing Corporation Tampa, FL | $17,834,474 | $17,025,476 |
Florida Agricultural & Mechanical Univ Foundation Inc Tallahassee, FL | $165,576,820 | $45,594,915 |
Jessie Ball Dupont Religious Charitable & Educational Fund Jacksonville, FL | $0 | $23,306,581 |
Avant Garde Academy Foundation Inc Hollywood, FL | $46,079,616 | $17,259,977 |
Florida State University Research Foundation Inc Tallahassee, FL | $238,210,385 | $28,107,542 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
Fsu Financial Assistance Inc Tallahassee, FL | $147,384,832 | $12,995,500 |