Florida College
- Assets
- $74.8m
- Revenue
- $32.9m
- Investments
- $930.7k
- Employees
- 449
- Location
- Temple Terrace, FL
- Founding
- 07/1946
- Data as of
- 05/2023
- EIN
- 59-0737882
Organization Overview
Florida College is located in Temple Terrace, FL. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Florida College employed 449 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida College 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 05/2023, Florida College generated $32.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $27.2m during the year ending 05/2023. While expenses have increased by 5.8% per year over the past 8 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A FULLY ACCREDITED FOUR YEAR LIBERAL ARTS COLLEGE AND ACADEMY FOR GRADES K-9.
Describe the Organization's Program Activity:
OPERATION AND MAINTENANCE OF A FULLY ACCREDITED FOUR YEAR LIBERAL ARTS COLLEGE AND ACADEMY FOR GRADES K-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Weaver President | Officer | 40 | $152,194 |
James Lewis VP Of Finance | Officer | 40 | $114,510 |
Rusty Copeland Principal | Officer | 40 | $62,221 |
Olen E Britnell Director | Trustee | 1 | $0 |
David C Roberts Secretary | OfficerTrustee | 1 | $0 |
J Bradley Cavender Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mmi Dining Systems Llc Food Services | 5/30/23 | $1,822,035 |
Derck & Edson Renovation Designs | 5/30/23 | $212,604 |
Mhd Communications It/network Upgrades | 5/30/23 | $441,167 |
Grace Construction Group Inc Renovation Contractor | 5/30/23 | $2,458,499 |
International Services G & Family Llc Cleaning & Janitorial | 5/30/23 | $370,421 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $343,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,307,808 |
| Noncash contributions included in lines 1a–1f | $329,946 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,650,808 |
| Total Program Service Revenue | $17,045,628 |
| Investment income | $305,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,695 |
| Net Gain/Loss on Asset Sales | -$80,302 |
| Net Income from Fundraising Events | -$187,852 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $143,206 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,938,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,402,068 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $641,404 |
| Compensation of current officers, directors, key employees. | $205,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,086,752 |
| Pension plan accruals and contributions | $248,998 |
| Other employee benefits | $1,471,054 |
| Payroll taxes | $647,033 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,081 |
| Fees for services: Other | $435,565 |
| Advertising and promotion | $4,902 |
| Office expenses | $243,950 |
| Information technology | $724,144 |
| Royalties | $10,251 |
| Occupancy | $697,884 |
| Travel | $327,867 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $675,271 |
| Interest | $273,381 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,679,434 |
| Insurance | $484,701 |
| All other expenses | $942,356 |
| Total functional expenses | $27,215,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,778,371 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,099,939 |
| Accounts receivable, net | $487,070 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $79,944 |
| Inventories for sale or use | $233,380 |
| Prepaid expenses and deferred charges | $614,294 |
| Net Land, buildings, and equipment | $33,404,497 |
| Investments—publicly traded securities | $27,173,643 |
| Investments—other securities | $930,707 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $74,801,846 |
| Accounts payable and accrued expenses | $1,564,099 |
| Grants payable | $0 |
| Deferred revenue | $314,946 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $177,852 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,928,335 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $212,106 |
| Total liabilities | $8,197,338 |
| Net assets without donor restrictions | $23,105,567 |
| Net assets with donor restrictions | $43,498,941 |
| 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 | $74,801,846 |