Chipola College Foundation Inc
- Assets
- $22.3m
- Revenue
- $2.2m
- Investments
- $15.5m
- Employees
- 4
- Location
- Marianna, FL
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 59-2074070
Organization Overview
Chipola College Foundation Inc is located in Marianna, FL. The organization was established in 1981. 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, Chipola College Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chipola 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, Chipola College Foundation Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 0.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS TO STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO STUDENTS - APPROXIMATELY 983 SCHOLARSHIPS AWARDED.
ATHLETIC PROGRAMS INCLUDING STUDENTS RECRUITING,PRINTING AND SUPPLIES,AND PLAYER AND COACH TRANSPORTATION. MUSIC AND ART PROGRAMS INCLUDING THEATRICAL PRODUCTIONS, SHOW CHOIR, TRAVEL, AND SUPPLIES.
EQUIPMENT PURCHASED AND CONTRIBUTED TO THE COLLEGE AND FUNDS CONTRIBUTED TO THE COLLEGE, ALL FOR THE BENEFIT OF STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brooke Donaldson Board Member | OfficerTrustee | 1 | $0 |
Angela Calloway Vice President Elect | Officer | 1 | $0 |
Buddy Brown Immediate Past President | Officer | 1 | $0 |
John Milton President | Officer | 1 | $0 |
Julie Fuqua Executive Director | Officer | 37.5 | $0 |
Robert Farnell Treasurer | Officer | 37.5 | $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 | $1,046,875 |
| Noncash contributions included in lines 1a–1f | $47,434 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,046,875 |
| Total Program Service Revenue | $0 |
| Investment income | $486,234 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $687,639 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,220,748 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,082,248 |
| 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 | $39,571 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,210 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $978 |
| Travel | $4,316 |
| 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 | $4,797 |
| All other expenses | $0 |
| Total functional expenses | $1,375,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,137,105 |
| Pledges and grants receivable | $0 |
| 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 | $399,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,452,848 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $338,936 |
| Total assets | $22,327,938 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $4,726,262 |
| Net assets with donor restrictions | $17,601,676 |
| 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 | $22,327,938 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Chipola College Foundation Inc has recieved totaling $169,101.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: SCHOLARSHIP SUPPORT | $60,000 |
Quen And Ann Rahal Charitable Tr Canton, OH PURPOSE: FUND SCHOLARSHIP | $28,458 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: TAKE STOCK IN CHILDREN SCHOLARSHIPS | $20,000 |
Florida College System Foundation Inc Tallahassee, FL PURPOSE: VARIOUS AWARDS | $19,935 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: EXPANSION OF ENGINEERING PROGRAM | $10,000 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: ENGINEERING/ADVANCED MANUFACTURING TECHNOLOGY PROGRAMS | $10,000 |
Endowment Analysis
| Beg. Balance | $19,302,796 |
| Earnings | -$1,518,631 |
| Net Contributions | $829,159 |
| Other Expense | $935,094 |
| Ending Balance | $17,678,230 |
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 |