Florida Southern College is located in Lakeland, FL. The organization was established in 1941. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Florida Southern College employed 1,647 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Southern College 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 05/2023, Florida Southern College generated $164.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $164.2m during the year ending 05/2023. While expenses have increased by 6.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE UNITED METHODIST AFFILIATED COLLEGE THAT IS COMMITTED TO EDUCATIONAL EXCELLENCE.
Describe the Organization's Program Activity:
FLORIDA SOUTHERN COLLEGE IS A PRIVATE, COMPREHENSIVE COLLEGE DEDICATED TO TEACHING EXCELLENCE IN 60 PROGRAMS OF STUDY FOR UNDERGRADUATE STUDENTS. THE COLLEGE OFFERS 16 MASTER DEGREE PROGRAMS IN BUSINESS, EDUCATION, NURSING AND PSYCHOLOGY, ALONG WITH FOUR DOCTORATE PROGRAMS IN EDUCATION, NURSING AND PHYSICAL THERAPY. THE COLLEGE IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES. THE COLLEGE'S 2022 ENTERING FRESHMAN CLASS OF 752 HAD THE HIGHEST ACT SCORE OF AN ENTERING CLASS. THE COLLEGE'S 2,607 FULL-TIME TRADITIONAL UNDERGRADUATE STUDENTS COME FROM 46 STATES AND 58 COUNTRIES AND TERRITORIES, WITH 86% OF THEM RESIDING IN CAMPUS HOUSING. MORE THAN 99% RECEIVE SOME FORM OF FINANCIAL ASSISTANCE, INCLUDING 26% WHO RECEIVE PELL GRANTS. (SEE SCHEDULE O.) FLORIDA SOUTHERN IS NATIONALLY RECOGNIZED FOR EXCELLENCE IN EXPERIENTIAL EDUCATION. OUR ENGAGED LEARNING PEDAGOGY CHALLENGES STUDENTS TO DEEPEN THEIR LEARNING AND EXPLORE THEIR POTENTIAL. WE ARE PROUD TO PROVIDE STUDENTS WITH OPPORTUNITIES TO APPLY THEIR LEARNING THROUGH STUDENT-FACULTY COLLABORATIVE RESEARCH, STUDENT MUSICAL PERFORMANCES, SERVICE LEARNING, CIVIC ENGAGEMENT, INTERNSHIPS, AND STUDY-ABROAD OPPORTUNITIES. STUDENTS ARE TAUGHT BY DYNAMIC PROFESSORS, INCLUDING 163 FULL-TIME FACULTY THAT RESULTS IN A 14:1 STUDENT-FACULTY RATIO. THE FACULTY HAVE OUTSTANDING CREDENTIALS, WITH 87% WHO HAVE EARNED THEIR TERMINAL DEGREE IN THEIR FIELD OF EXPERTISE. FLORIDA SOUTHERN ALSO EMPHASIZES WHOLE-STUDENT DEVELOPMENT AND HAS A VIBRANT EXTRA-CURRICULAR AGENDA THAT SUPPORTS BOTH CLASSROOM AND OUT-OF-CLASSROOM PERSONAL GROWTH EXPERIENCES. A WELL-TRAINED STAFF OF PROFESSIONALS LEAD THESE ACTIVITIES THAT FOSTER NOT ONLY ACADEMIC, BUT ALSO PHYSICAL, SPIRITUAL, AND SOCIAL DEVELOPMENT. FLORIDA SOUTHERN CONTINUES TO EARN RECOGNITION AS ONE OF THE NATION'S BEST SMALL PRIVATE COLLEGES AND IS CONSISTENTLY INCLUDED IN GUIDEBOOKS SUCH AS THE PRINCETON REVIEW'S BEST COLLEGES, U.S. NEWS & WORLD REPORT, AND COLLEGES OF DISTINCTION. THE FISKE GUIDE TO COLLEGES ALSO INCLUDES FSC AMONG THE "BEST AND MOST INTERESTING" SCHOOLS IN THE U.S. PUBLICATIONS SUCH AS BLOOMBERG BUSINESSWEEK AND THE BUSINESS RESEARCH GUIDE TOUT FSC'S BARNEY BARNETT SCHOOL OF BUSINESS AND FREE ENTERPRISE AS ONE OF THE "BEST UNDERGRADUATE BUSINESS PROGRAMS AND "MOST INNOVATIVE SMALL COLLEGE BUSINESS DEPARTMENTS" IN THE NATION. THE BARNETT SCHOOL IS ALSO AACSB ACCREDITED AND INCLUDED IN THE PRINCETON REVIEWS "BEST ON-CAMPUS M.B.A SCHOOLS" LIST AND IS LISTED AMONG THE "TOP UNDERGRADUATE SCHOOLS FOR BUSINESS IN THE NATION" BY POETS & QUANTS. THE VALUE FLORIDA SOUTHERN PROVIDES ITS STUDENTS IS ALSO WIDELY RECOGNIZED: U.S. NEWS INCLUDES FLORIDA SOUTHERN ON ITS "BEST BUY" LIST, AND WASHINGTON MONTHLY TOUTS FLORIDA SOUTHERN AS AN INSTITUTION WHERE YOU'LL GET THE "BEST BANG FOR YOUR BUCK." THE PRINCETON REVIEW AGAIN RECOGNIZED FSC FOR ITS CAMPUS BEAUTY AND EXCEPTIONAL ARCHICTURAL HERITAGE BY BEING RANKED ONE OF THE TOP TEN MOST BEAUTIFUL CAMPUSES, THE TWELFTH CONSECUTIVE YEAR THAT FSC HAS BEEN INCLUDED IN THIS CATEGORY. THE COLLEGE'S 120 ACRE CAMPUS INCLUDES ACADEMIC BUILDINGS, RESIDENCE HALLS, ATHLETIC FACILITIES, STUDENT LIFE ACTIVITY SPACES, ADMINISTRATIVE OFFICES, AND STUDENT SUPPORT LEARNING SPACES, A PERFORMING ARTS CENTER, OTHER AUDITORIA FOR BOTH MUSICAL AND ALL-COLLEGE PROGRAMS, CHAPELS FOR CAMPUS MINISTRIES, AND MAINTENANCE AND WORKSHOP FACILITIES. THE COLLEGE OWNS AND OPERATES SEVERAL NEARBY APARTMENT COMPLEXES FOR STUDENT HOUSING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert L Fryer Jr Chairman | OfficerTrustee | 10 | $0 |
Richard T Fulton Vice Chairman | OfficerTrustee | 1 | $0 |
Robert E Puterbaugh Secretary | OfficerTrustee | 5 | $0 |
William E Crenshaw Treasurer | OfficerTrustee | 1 | $0 |
J Stephen Buck Assistant Secretary | OfficerTrustee | 1 | $0 |
David J Adams Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Guest Services Inc Cafeteria Management | 5/30/23 | $6,947,638 |
Rodda Construction Inc Construction Services | 5/30/23 | $3,507,131 |
Dell Financial Services Contractor | 5/30/23 | $1,037,222 |
Q & Q Inc Contractor | 5/30/23 | $967,164 |
Trilogy Leasing Co Llc Contractor | 5/30/23 | $685,374 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $140,842 |
Related organizations | $241,794 |
Government grants | $276,354 |
All other contributions, gifts, grants, and similar amounts not included above | $15,218,898 |
Noncash contributions included in lines 1a–1f | $3,133,867 |
Total Revenue from Contributions, Gifts, Grants & Similar | $15,877,888 |
Total Program Service Revenue | $142,980,086 |
Investment income | $3,215,372 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $826,967 |
Net Income from Fundraising Events | -$20,521 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $172,988 |
Miscellaneous Revenue | $0 |
Total Revenue | $164,767,465 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $60,898,675 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,969,080 |
Compensation of current officers, directors, key employees. | $1,298,840 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $37,219,194 |
Pension plan accruals and contributions | $2,311,065 |
Other employee benefits | $4,368,497 |
Payroll taxes | $2,643,747 |
Fees for services: Management | $0 |
Fees for services: Legal | $62,995 |
Fees for services: Accounting | $180,888 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $66,770 |
Fees for services: Other | $6,579,164 |
Advertising and promotion | $1,933,655 |
Office expenses | $3,537,640 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $8,006,902 |
Travel | $1,174,777 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $1,290,636 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $9,295,747 |
Insurance | $3,979,022 |
All other expenses | $2,571,431 |
Total functional expenses | $164,207,263 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,904,930 |
Savings and temporary cash investments | $18,002,359 |
Pledges and grants receivable | $16,409,669 |
Accounts receivable, net | $3,824,361 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,043,539 |
Inventories for sale or use | $79,955 |
Prepaid expenses and deferred charges | $1,160,051 |
Net Land, buildings, and equipment | $165,058,622 |
Investments—publicly traded securities | $89,767,462 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $9,344,632 |
Total assets | $308,595,580 |
Accounts payable and accrued expenses | $8,375,814 |
Grants payable | $0 |
Deferred revenue | $2,937,331 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $73,390 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $32,998,215 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $6,240,442 |
Total liabilities | $50,625,192 |
Net assets without donor restrictions | $146,219,545 |
Net assets with donor restrictions | $111,750,843 |
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 | $308,595,580 |