Gulf Coast State College Foundation Inc
- Assets
- $35.3m
- Revenue
- $5.2m
- Investments
- $31.7m
- Employees
- 5
- Location
- Panama City, FL
- Founding
- 11/1970
- Data as of
- 06/2022
- EIN
- 59-1682455
Organization Overview
Gulf Coast State College Foundation Inc is located in Panama City, FL. The organization was established in 1970. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Gulf Coast State College Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Coast State College 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, Gulf Coast State College Foundation Inc generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.4% each year . All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 10.8% 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.
Since 2019, Gulf Coast State College Foundation Inc has awarded 18 individual grants totaling $4,047,204. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A SCHOLARSHIP PROGRAM PROVIDING EDUCATIONAL OPPORTUNITIES TO DESERVING STUDENTS AND TO ENHANCE THE EDUCATIONAL PROGRAMS AND STUDENT SERVICES AVAILABLE AT GULF COAST STATE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULINARY PROGRAM - TO FUND SCHOLARSHIPS FOR CULINARY PROGRAM STUDENTS AND TO OFFER PROGRAM SUPPORT TO ASSIST THE CULINARY PROGRAM.
HONORS PLAZA TECHNOLOGY - TO FUND TECHNOLOGY PURCHASES AND UPGRADES FOR THE COLLEGE, INCLUDING SOFTWARE UPGRADES AND SUPPORT FOR THE FOUNDATION.
SCHOLARSHIPS PROGRAM - TO FUND AND PROVIDE SCHOLARSHIPS FOR STUDENTS ATTENDING THE COLLEGE.
OTHER PROGRAMS INCLUDE: VISUAL AND PERFORMING ARTS, KIDS COLLEGE, EDUCATIONAL ASSISTANCE, AND MILITARY PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Sean Preston Executive Di | Officer | 40 | $150,990 |
Tony Bennett Past Preside | OfficerTrustee | $0 | |
Aj Bacon Vice Preside | OfficerTrustee | $0 | |
Trey Hutt President | OfficerTrustee | $0 | |
Jerry Sowell Jr Treasurer | OfficerTrustee | $0 | |
Caroline Windham Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,530 |
| Fundraising events | $1,291,568 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,654,804 |
| Noncash contributions included in lines 1a–1f | $22,673 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,947,902 |
| Total Program Service Revenue | $0 |
| Investment income | $1,036,379 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $139,269 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,181,722 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,565,109 |
| Grants and other assistance to domestic individuals. | $16,825 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $257,003 |
| Compensation of current officers, directors, key employees. | $51,401 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,900 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,243 |
| Fees for services: Accounting | $24,820 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,141 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,762 |
| Office expenses | $57,984 |
| Information technology | $53,673 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,355 |
| 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 | $4,533 |
| All other expenses | $957 |
| Total functional expenses | $3,496,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $562,263 |
| Pledges and grants receivable | $2,847,838 |
| Accounts receivable, net | $20,715 |
| 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 | $112,687 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $31,748,869 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,635 |
| Total assets | $35,326,007 |
| Accounts payable and accrued expenses | $191,568 |
| 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 | $191,568 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $35,134,439 |
| 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 | $35,326,007 |
Grants Awarded
Over the last fiscal year, Gulf Coast State College Foundation Inc has awarded $2,562,609 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Panama City, FL PURPOSE: SCHOLARSHIPS | $2,122,223 |
Panama City, FL PURPOSE: EDUCATIONAL PROGRAMS | $256,158 |
Panama City, FL PURPOSE: EDUCATIONAL PROGRAMS | $184,228 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Gulf Coast State College Foundation Inc has recieved totaling $2,841,189.
| Awarding Organization | Amount |
|---|---|
Gulf Coast State College Foundation Inc Panama City, FL PURPOSE: SCHOLARSHIPS | $2,122,223 |
Gulf Coast State College Foundation Inc Panama City, FL PURPOSE: EDUCATIONAL PROGRAMS | $256,158 |
Gulf Coast State College Foundation Inc Panama City, FL PURPOSE: EDUCATIONAL PROGRAMS | $184,228 |
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: SCHOLARSHIP SUPPORT | $100,000 |
The St Joe Community Foundation Inc Panama City Beach, FL PURPOSE: EDUCATION; COMMUNITY OUTREACH | $58,000 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: THANKS A MILLION VETERANS FUND | $30,000 |
Endowment Analysis
| Beg. Balance | $17,630,647 |
| Earnings | -$1,979,186 |
| Admin Expense | $341,371 |
| Net Contributions | $1,098,352 |
| Other Expense | $309,831 |
| Grants | $708,800 |
| Ending Balance | $15,389,811 |
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 |