Florida College System Foundation Inc
- Assets
- $25.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 03/1995
- Data as of
- 06/2022
- EIN
- 65-0530384
Organization Overview
Florida College System Foundation Inc is located in Tallahassee, FL. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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 College System 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 College System Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 48.7% each year . All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 2.9% 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.
Since 2015, Florida College System Foundation Inc has awarded 256 individual grants totaling $10,674,445. 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
THE MISSION OF THE FLORIDA COLLEGE SYSTEM FOUNDATION IS TO SECURE AND MANAGE PUBLIC AND PRIVATE RESOURCES TO PROVIDE OPTIMAL BENEFIT TO FLORIDA'S 28 COLLEGES, THEREBY SUPPORTING STUDENTS WHO ARE SEEKING A HIGHER EDUCATION THAT WILL POSITIVELY IMPACT THEIR LIVES AND THE FUTURE OF THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS MADE TO THE FLORIDA COLLEGES TO FUND SCHOLARSHIPS FOR STUDENTS AND OTHER ACTIVITIES SUPPORTING THE FLORIDA COLLEGE SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Morris Treasurer | OfficerTrustee | 1 | $0 |
Teresa Borcheck Chair | OfficerTrustee | 1 | $0 |
Karen Moore Past Chair | OfficerTrustee | 1 | $0 |
Violeta Salud Finance Chai | OfficerTrustee | 1 | $0 |
Randall Vitale Vice Chair | OfficerTrustee | 1 | $0 |
Judy Green President | Officer | 40 | $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 | $990,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $990,022 |
| Total Program Service Revenue | $0 |
| Investment income | $802,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $582,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,375,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,218,625 |
| 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 | $17,896 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $220,908 |
| Fees for services: Other | $190,780 |
| Advertising and promotion | $15,971 |
| Office expenses | $12,996 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $180,114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,317 |
| Insurance | $892 |
| All other expenses | $0 |
| Total functional expenses | $1,901,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,379 |
| Savings and temporary cash investments | $1,830,521 |
| Pledges and grants receivable | $566,567 |
| Accounts receivable, net | $973 |
| 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 | $6,437 |
| Investments—publicly traded securities | $23,144,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,706,853 |
| Accounts payable and accrued expenses | $783 |
| 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 | $783 |
| Net assets without donor restrictions | $130,302 |
| Net assets with donor restrictions | $25,575,768 |
| 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 | $25,706,853 |
Grants Awarded
Over the last fiscal year, Florida College System Foundation Inc has awarded $1,218,625 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
Miami, FL PURPOSE: VARIOUS AWARDS | $112,017 |
Orlando, FL PURPOSE: VARIOUS AWARDS | $92,355 |
Fort Lauderdale, FL PURPOSE: VARIOUS AWARDS | $89,753 |
Saint Petersburg, FL PURPOSE: VARIOUS AWARDS | $67,003 |
Tampa, FL PURPOSE: VARIOUS AWARDS | $65,019 |
Lake Worth, FL PURPOSE: VARIOUS AWARDS | $60,888 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Florida College System Foundation Inc has recieved totaling $1,050,000.
| Awarding Organization | Amount |
|---|---|
Helios Education Foundation Phoenix, AZ PURPOSE: See Part IV | $950,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $100,000 |
Endowment Analysis
| Beg. Balance | $16,002,230 |
| Ending Balance | $16,002,230 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |