Florida Gulf Coast University Foundation Inc
- Assets
- $164.7m
- Revenue
- $25.9m
- Investments
- $1.2m
- Employees
- 0
- Location
- Fort Myers, FL
- Founding
- 10/1994
- Data as of
- 06/2022
- EIN
- 65-0403969
Organization Overview
Florida Gulf Coast University Foundation Inc is located in Fort Myers, FL. The organization was established in 1994. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Gulf Coast University 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, Florida Gulf Coast University Foundation Inc generated $25.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $20.3m during the year ending 06/2022. While expenses have increased by 6.9% 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
THE FOUNDATION'S MISSION IS TO SUPPORT THE EDUCATIONAL MISSION OF FLORIDA GULF COAST UNIVERSITY.
Describe the Organization's Program Activity:
THE FOUNDATION RECEIVES AND ADMINISTERS GIFTS AND BEQUESTS FOR EDUCATIONAL AND CHARITABLE PURPOSES FOR THE ADVANCEMENT OF FLORIDA GULF COAST UNIVERSITY. THE FOUNDATION ALSO HOLDS PROPERTY FOR USE BY THE UNIVERSITY INCLUDING LAND USED BY THE COLLEGE OF ARTS AND SCIENCES FOR THE ENVIRONMENTAL STUDIES PROGRAMS, THE HOME OF THE FLORIDA GULF COAST UNIVERSITY VESTER MARINE SCIENCE AND ENVIRONMENTAL EDUCATION CENTER, AND LAND TO BE USED FOR THE UNIVERSITY'S FUTURE EXPANSION NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Martin President | OfficerTrustee | 10 | $0 |
Charles Ketteman Chair | OfficerTrustee | 1 | $0 |
Mayela Rosales Vice Chair | OfficerTrustee | 1 | $0 |
Geurt Peet Secretary | OfficerTrustee | 1 | $0 |
Douglas Vanoort Treasurer | OfficerTrustee | 1 | $0 |
Katherine Green Executive Director | Officer | 25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Owen Ames Kimball Construction | 6/29/22 | $4,760,067 |
Jsm Services Inc Athletic Field Maintenance | 6/29/22 | $204,459 |
Floridian Partners Lobbying | 6/29/22 | $195,962 |
Parker Mudgett Smith Architects Inc Architect Services | 6/29/22 | $146,749 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $759,941 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,765,912 |
| Noncash contributions included in lines 1a–1f | $722,361 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,525,853 |
| Total Program Service Revenue | $1,280,842 |
| Investment income | $85,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $721,779 |
| Net Income from Fundraising Events | $265,040 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,895,312 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,398,390 |
| 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 | $888 |
| Fees for services: Accounting | $87,091 |
| Fees for services: Lobbying | $210,930 |
| Fees for services: Fundraising | $30,238 |
| Fees for services: Investment Management | $200,653 |
| Fees for services: Other | $824,257 |
| Advertising and promotion | $70,072 |
| Office expenses | $942,918 |
| Information technology | $63,288 |
| Royalties | $0 |
| Occupancy | $299,256 |
| Travel | $293,927 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,646,209 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,978 |
| Insurance | $196,284 |
| All other expenses | $188,313 |
| Total functional expenses | $20,282,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,704,178 |
| Pledges and grants receivable | $4,154,557 |
| Accounts receivable, net | $1,850 |
| 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 | $94,275 |
| Net Land, buildings, and equipment | $8,450,400 |
| Investments—publicly traded securities | $117,811,666 |
| Investments—other securities | $1,175,971 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $325,462 |
| Total assets | $164,718,359 |
| Accounts payable and accrued expenses | $369,177 |
| Grants payable | $0 |
| Deferred revenue | $32,000 |
| 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 | $2,086,962 |
| Total liabilities | $2,488,139 |
| Net assets without donor restrictions | $12,503,672 |
| Net assets with donor restrictions | $149,726,548 |
| 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 | $164,718,359 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Florida Gulf Coast University Foundation Inc has recieved totaling $33,060.
| Awarding Organization | Amount |
|---|---|
Brodie Foundation Estero, FL PURPOSE: TO SUPPORT THE COMMUNITY | $22,000 |
Suedhoff Memorial Trust Inc Syracuse, IN PURPOSE: GENERAL USE | $10,000 |
Greer-Solien Fund Wilmington, DE PURPOSE: WGCU PUBLIC RADIO | $1,000 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $60 |
Endowment Analysis
| Beg. Balance | $129,309,034 |
| Earnings | -$16,085,855 |
| Admin Expense | $1,936,579 |
| Net Contributions | $3,897,182 |
| Other Expense | $3,346,794 |
| Ending Balance | $111,836,988 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
Seminole County Coalition For School Readiness Inc Longwood, FL | $3,997,009 | $35,020,709 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Florida Atlantic University Foundation Inc Boca Raton, FL | $393,420,422 | $44,215,838 |
St Petersburg College Foundation Inc Saint Petersburg, FL | $84,259,588 | $9,116,029 |
Florida Gulf Coast University Foundation Inc Fort Myers, FL | $164,718,359 | $25,895,312 |