Florida Education Fund Inc

Organization Overview

Florida Education Fund Inc is located in Tampa, FL. The organization was established in 1988. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Florida Education Fund Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Education Fund 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 Education Fund Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $4.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Florida Education Fund Inc has awarded 74 individual grants totaling $1,523,538. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE GREATER INSTITUTIONAL AND EDUCATIONAL ADVANCEMENT FOR HISTORICALLY UNDERREPRESENTED GROUPS

Describe the Organization's Program Activity:

Part 3 - Line 4a

MCKNIGHT DOCTORAL FELLOWSHIP PROGRAM:ESTABLISHED IN 1984, THE FLORIDA EDUCATION FUND'S MCKNIGHT DOCTORAL FELLOWSHIP PROGRAM HAS INCREASED THE NUMBER OF AFRICAN AND HISPANIC AMERICANS WHO HAVE BEEN AWARDED THE PH.D. IN HISTORICALLY UNDERREPRESENTED, CRUCIAL DISCIPLINES AND FIELDS OF STUDY WHERE AFRICAN AND HISPANIC AMERICANS HAVE NOT HISTORICALLY ENROLLED AND COMPLETED DEGREE PROGRAMS. SOME 1,539 FELLOWSHIPS HAVE BEEN AWARDED TO AFRICAN AND HISPANIC AMERICANS PURSUING THE PH.D. DEGREE AND THE PROGRAM ENJOYS AN IMPRESSIVE NEAR 87% RETENTION RATE WHICH INCLUDED 381 MATRICULATING FELLOWS AND 954 GRADUATES. (CONTINUED ON SCHEDULE O)PRESENTLY 60 FELLOWS HAVE ADVANCED TO CANDIDACY. 70 FELLOWS GRADUATED IN 2022. 50 NEW MCKNIGHT FELLOWSHIPS AND 17 DISSERTATION FELLOWSHIPS WERE AWARDED FOR FALL 2022 TO STUDENTS PURSUING STUDIES AT ONE OF 9 PARTICIPATING INSTITUTIONS IN THE STATE OF FLORIDA. EACH FELLOWSHIP CONSISTS OF TUITION, FEES, AND STIPEND.


CENTERS OF EXCELLENCE:ESTABLISHED IN 1985, THE CENTERS OF EXCELLENCE (COE'S OR CENTERS) ARE COMMUNITY-BASED INITIATIVES WHOSE MISSION IS TO IDENTIFY AND MOTIVATE HISTORICALLY DISADVANTAGED MINORITY ELEMENTARY AND SECONDARY STUDENTS AND ULTIMATELY INCREASE THE POOL OF THESE STUDENTS MOTIVATED AND QUALIFIED TO ENTER COLLEGE. THIS MISSION INCLUDES: A) ASSUMING A MORE PROACTIVE STANCE IN THE EDUCATION OF YOUTH; B) EMPLOYING THE DEVELOPMENT OF A GROUP ACHIEVEMENT MODEL FOR DISADVANTAGED ELEMENTARY AND SECONDARY STUDENTS; AND, C) INCREASING THE POOL OF STUDENTS WHO ARE PREPARED, MOTIVATED AND QUALIFIED TO ENTER HIGHER EDUCATION.(CONTINUED ON SCHEDULE O)NINE CENTERS THROUGHOUT FLORIDA HAVE MORE THAN 19,000 HIGH ACHIEVING STUDENTS INTO THE NATIONAL ACHIEVERS SOCIETY. APPROXIMATELY 16,000 STUDENTS HAVE COMPETED IN THE ANNUAL BRAIN BOWL SCHOLARSHIP COMPETITIONS. APPROXIMATELY 11,992 HAVE PARTICIPATED IN SAT PREPARATION AND/OR COMPUTER PROGRAMMING COURSES, AFTER SCHOOL PROGRAMS AND SUMMER CAMPS.


MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM:THE MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM PROMOTES EXCELLENCE IN TEACHING AND RESEARCH BY UNDERREPRESENTED MINORITIES AND WOMEN. TO IMPROVE THEIR CHANCES OF EARNING TENURE AND PROMOTION, FELLOWS RECEIVE A ONE-YEAR SABBATICAL WITH FULL SALARY AND BENEFITS. DURING THE SABBATICAL, FELLOWS ARE REQUIRED TO ENGAGE IN RESEARCH AND TRAINING PROJECTS DIRECTLY RELATED TO THEIR EFFORTS TO SECURE TENURE AND PROMOTION. WHILE THE PARTICIPATING UNIVERSITY PAYS THE FELLOW'S SALARY, THE FEF PAYS THE UNIVERSITY $15,000 TO ASSIST WITH NECESSARY TEACHING REPLACEMENTS AND SUPPORT COSTS. SINCE 1984, THE FEF HAS AWARDED 254 JUNIOR FACULTY FELLOWSHIPS TO AFRICAN AMERICANS, WOMEN AND OTHER HISTORICALLY UNDERREPRESENTED MINORITIES. (CONTINUED ON SCHEDULE O)THIS INCLUDES FIVE NEW JUNIOR FACULTY FELLOWSHIPS FOR THE 2022-2023 ACADEMIC YEAR. THE MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM ADVANCES FACULTY DIVERSITY WITHIN FLORIDA COLLEGES AND UNIVERSITIES. OF THE 254 FELLOWS AWARDED SINCE 1984, 93 HAVE OBTAINED TENURE OR PROMOTION OR HAVE EARNED DOCTORAL DEGREES.


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Board, Officers & Key Employees

Name (title)Compensation
Dr Lawrence Morehouse
President & CEO
$260,889
Lyra Logan
Vp/general Counsel
$203,728
Omobola Olulade
Controller
$106,960
Dr Robert L Nixon
Board Chair
$0
Dr Sylvia Wilson Thomas
Secretary/treasurer
$0
Dr Dovie Gamble
Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,934,115
All other contributions, gifts, grants, and similar amounts not included above$652,526
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,586,641
Total Program Service Revenue$29,893
Investment income $355,435
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $684,094
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,657,591

Grants Awarded

Over the last fiscal year, Florida Education Fund Inc has awarded $149,223 in support to 9 organizations.

Grant RecipientAmount

ATLANTIC COAST CENTER OF EXCELLENCE

PURPOSE: TO MOTIVATE ELEMENTARY AND SECONDARY STUDENTS TO PREPARE FOR COLLEGE - SEE FORM 990, PART III, LINE 4B

$26,000

SANTA FE COMMUNITY COLLEGE CENTER OF EXCELLENCE

PURPOSE: SAME AS ABOVE

$23,300

SOUTH FLORIDA CENTER OF EXCELLENCE

PURPOSE: SAME AS ABOVE

$22,370

ST PETERSBURG COLLEGE CENTER OF EXCELLENCE

PURPOSE: SAME AS ABOVE

$15,750

PALM BEACH COUNTY CENTER OF EXCELLENCE

PURPOSE: SAME AS ABOVE

$15,000

UNIVERSITY OF CENTRAL FLORIDA CENTER OF EXCELLENCE

PURPOSE: SAME AS ABOVE

$12,901
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Florida Education Fund Inc has recieved totaling $118,819.

Awarding OrganizationAmount
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$108,819
William J & Tina Rosenberg Foundation

Las Vegas, NV

PURPOSE: GENERAL OPERATING

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$20,000
Ending Balance$20,000

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