Florida College
- Assets
- $69.8m
- Revenue
- $29.5m
- Investments
- $861.2k
- Employees
- 522
- Location
- Temple Terrace, FL
- Founding
- 07/1946
- Data as of
- 05/2022
- 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 05/2022, Florida College employed 522 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 05/2022, Florida College generated $29.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $22.8m during the year ending 05/2022. While expenses have increased by 4.0% per year over the past 7 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
2022
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 |
|---|---|---|---|
Harry E Payne Jr President | Officer | 40 | $125,221 |
James Lewis Chief Bus Ofcr. | Officer | 40 | $111,536 |
David C Roberts Secretary | OfficerTrustee | 1 | $0 |
Charles F Nowlin Sr Treasurer | OfficerTrustee | 1 | $0 |
J Bradley Cavender Director | Trustee | 1 | $0 |
A Wallace Hayes Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
International Services G & Family Llc Cleaning & Janitorial | 5/30/22 | $319,400 |
Mmi Dining Systems Llc Food Services | 5/30/22 | $1,317,037 |
Mhd Communications It/network Upgrades | 5/30/22 | $448,511 |
Grace Construction Group Inc Renovation Contractor | 5/30/22 | $2,711,283 |
The Rogers Group Renovation Contractor | 5/30/22 | $665,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $424,871 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,753,140 |
| Noncash contributions included in lines 1a–1f | $656,107 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,178,011 |
| Total Program Service Revenue | $15,797,645 |
| Investment income | $415,484 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,400 |
| Net Gain/Loss on Asset Sales | $3,487,483 |
| Net Income from Fundraising Events | -$244,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $188,386 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,466,766 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,933,847 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $223,466 |
| Compensation of current officers, directors, key employees. | $71,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,643,125 |
| Pension plan accruals and contributions | $227,233 |
| Other employee benefits | $1,115,814 |
| Payroll taxes | $581,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,914 |
| Fees for services: Accounting | $47,688 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,614 |
| Fees for services: Other | $232,645 |
| Advertising and promotion | $2,682 |
| Office expenses | $743,046 |
| Information technology | $171,278 |
| Royalties | $7,410 |
| Occupancy | $675,353 |
| Travel | $160,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $419,946 |
| Interest | $267,219 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,588,295 |
| Insurance | $412,034 |
| All other expenses | $733,273 |
| Total functional expenses | $22,795,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,655,891 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $851,409 |
| Accounts receivable, net | $520,243 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $141,697 |
| Inventories for sale or use | $216,113 |
| Prepaid expenses and deferred charges | $309,378 |
| Net Land, buildings, and equipment | $32,177,824 |
| Investments—publicly traded securities | $28,081,751 |
| Investments—other securities | $861,200 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $69,815,506 |
| Accounts payable and accrued expenses | $1,579,528 |
| Grants payable | $0 |
| Deferred revenue | $333,587 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $231,253 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,013,990 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $251,217 |
| Total liabilities | $8,409,575 |
| Net assets without donor restrictions | $22,014,795 |
| Net assets with donor restrictions | $39,391,136 |
| 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 | $69,815,506 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Florida College has recieved totaling $256,373.
| Awarding Organization | Amount |
|---|---|
Haley Foundation Dothan, AL PURPOSE: EDUCATIONAL/RELIGIOUS | $74,000 |
The Mg And Lg Romine Foundation Inc Huntsville, AL PURPOSE: GENERAL SUPPORT | $62,800 |
J L Hodges Family Foundation Houston, TX PURPOSE: CHARITABLE | $42,325 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $25,250 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $13,586 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,925 |
Endowment Analysis
| Beg. Balance | $32,049,979 |
| Earnings | -$934,160 |
| Admin Expense | $58,999 |
| Net Contributions | $662,928 |
| Other Expense | $1,996,927 |
| Grants | $486,537 |
| Ending Balance | $29,236,284 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Covenant College Inc Lookout Mountain, GA | $98,255,603 | $50,724,767 |
Reinhardt University Waleska, GA | $120,947,179 | $50,634,912 |
Miles College Fairfield, AL | $95,783,028 | $49,621,884 |
Florida Memorial University Inc Miami Gardens, FL | $88,071,695 | $38,959,091 |
Lagrange College Lagrange, GA | $157,918,154 | $43,354,732 |
Adventhealth University Inc Orlando, FL | $48,086,659 | $41,988,749 |
Huntingdon College Montgomery, AL | $93,441,263 | $35,039,176 |
Point University Inc West Point, GA | $44,703,708 | $34,264,819 |
Edward Waters College Jacksonville, FL | $50,251,624 | $38,983,109 |
Talladega College Talladega, AL | $107,180,326 | $45,431,795 |
Emmanuel College Franklin Springs, GA | $33,236,823 | $27,286,390 |
The Orange Bowl Committee Inc Miami Lakes, FL | $82,904,387 | $30,457,464 |