Florida Gulf Coast University Financing Corporation
- Assets
- $204.9m
- Revenue
- $19.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Myers, FL
- Founding
- 12/2003
- Data as of
- 06/2022
- EIN
- 11-3685135
Organization Overview
Florida Gulf Coast University Financing Corporation is located in Fort Myers, FL. The organization was established in 2003. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations 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 Financing Corporation 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 Financing Corporation generated $19.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $15.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 7 years. 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
THE ORGANIZATION WAS ESTABLISHED TO RECEIVE, HOLD, INVEST, AND ADMINISTER PROPERTY AND TO MAKE EXPENDITURES TO OR FOR THE EXCLUSIVE BENEFIT OF FGCU OR A RESEARCH AND DEVELOPMENT PARK OR RESEARCH AND DEVELOPMENT AUTHORITY AFFILIATED WITH THE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRACT FOR THE DESIGN AND CONSTRUCTION OF STUDENT RESIDENTIAL HOUSING AND RELATED PARKING. ISSUES BOND DEBT TO FINANCE SUCH CONSTRUCTION. ALSO THE PAYMENT OF VARIOUS OTHER SUPPORT FEES OF THE UNIVERSITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Hart Directortreasurer | OfficerTrustee | 5 | $0 |
Stephen Mcintosh Directorsecretary | OfficerTrustee | 5 | $0 |
Joseph Catti Directorchairman | OfficerTrustee | 5 | $0 |
Richard Eide Director | Trustee | 5 | $0 |
Martin Wasmer Director | Trustee | 5 | $0 |
James Knupp Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $19,051,613 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,051,613 |
| Total Program Service Revenue | $0 |
| Investment income | $275,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,327,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,965,700 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $198,652 |
| All other expenses | $13,057 |
| Total functional expenses | $15,353,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $435,802 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $204,433,696 |
| Intangible assets | $0 |
| Other assets | $28,192 |
| Total assets | $204,897,690 |
| Accounts payable and accrued expenses | $2,906,646 |
| Grants payable | $0 |
| Deferred revenue | $520,354 |
| Tax-exempt bond liabilities | $153,142,938 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $164,769,938 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $40,127,752 |
| Total liabilities and net assets/fund balances | $204,897,690 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Florida Gulf Coast University Financing Corporation has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Cape Coral Rotary Foundation Inc Cape Coral, FL PURPOSE: SCHOLARSHIPS | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tigers Unlimited Foundation Auburn, AL | $119,888,484 | $62,585,333 |
Illuminations Foundation Inc Alpharetta, GA | $6,093,722 | $37,103,304 |
Florida Gulf Coast University Financing Corporation Fort Myers, FL | $204,897,690 | $19,327,322 |
Dr Phillips Inc Orlando, FL | $219,173,154 | $19,084,709 |
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
W I H Pitts Memorial Fund Ua 1125291 Orlando, FL | $81,861,752 | $8,345,825 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Disease Management Network Inc Coral Gables, FL | $1,845,694 | $4,211,323 |
Greater Orlando Childrens Miracle Network Inc Orlando, FL | $3,305,504 | $3,670,113 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
The Catholic Foundation Of Central Florida Inc Orlando, FL | $91,215,748 | $5,046,081 |
Jewish Family Services Of Broward Foundation Inc Davie, FL | $15,511,369 | $3,786,697 |