Gulf Coast Community Foundation Inc
- Assets
- $444.0m
- Revenue
- $51.1m
- Investments
- $50.0m
- Employees
- 31
- Location
- Venice, FL
- Founding
- 07/1966
- Data as of
- 06/2023
- EIN
- 59-1052433
Organization Overview
Gulf Coast Community Foundation Inc is located in Venice, FL. The organization was established in 1966. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Gulf Coast Community Foundation Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Coast Community 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 06/2023, Gulf Coast Community Foundation Inc generated $51.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $50.5m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Gulf Coast Community Foundation Inc has awarded 4,733 individual grants totaling $352,001,915. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TOGETHER WITH OUR DONORS, WE TRANSFORM OUR REGION THROUGH BOLD AND PROACTIVE PHILANTHROPY.
Describe the Organization's Program Activity:
IN ITS ROLE AS A REGIONAL LEADER, GULF COAST COMMUNITY FOUNDATION IDENTIFIES PRIORITY ISSUES THROUGH QUANTITATIVE AND QUALITATIVE RESEARCH, CREATES AND FUNDS CATALYTIC COMMUNITY INITIATIVES THAT TARGET THOSE PRIORITIES, AND ALSO CONNECTS DONORS TO THESE ISSUES AND OTHER CHARITABLE CAUSES THEY CARE ABOUT. GULF COAST'S INITIATIVES TYPICALLY INVOLVE CROSS-SECTOR COLLABORATION AND LEVERAGE ADDITIONAL PHILANTHROPIC FUNDING FROM WITHIN AND BEYOND OUR REGION. INITIATIVES IN WHICH GULF COAST AND OUR DONORS INVESTED THIS YEAR INCLUDED:1) RESPONDING TO THE LONG-TERM RECOVERY NEEDS OF THOSE IN OUR REGION WHO WERE MOST IMPACTED BY HURRICANE IAN. 2) CONVENING STAKEHOLDERS TO BUILD A SYSTEM OF ACCESSIBLE, INTEGRATED, AND TRAUMA-INFORMED SERVICES AND FAMILY SUPPORTS TO MEET THE MENTAL HEALTH NEEDS OF CHILDREN, YOUTH, AND YOUNG ADULTS IN SARASOTA COUNTY.3) CONVENING, LEADING, AND FUNDING STRATEGIC PROJECTS TO IMPROVE ENVIRONMENTAL QUALITY IN THE GULF COAST REGION AND EDUCATE CITIZENS ON THE BENEFITS OF A HEALTHY ENVIRONMENT.4) INVESTING IN SUSTAINABLE REDEVELOPMENT OF THE SARASOTA BAYFRONT THROUGH THE PUBLIC-PRIVATE PARTNERSHIP CREATING THE BAY PARK.5) IMPROVING AND BETTER COORDINATING SERVICES FOR CHRONICALLY HOMELESS ADULTS AND UNACCOMPANIED HOMELESS YOUTH IN SARASOTA COUNTY.6) STRENGTHENING THE BOARD GOVERNANCE AND OPERATIONAL EFFECTIVENESS OF NONPROFIT ORGANIZATIONS THROUGHOUT OUR REGION (INVEST IN INCREDIBLE).7) HELPING FIRST GRADERS IN SARASOTA COUNTY SCHOOLS WHO STRUGGLE THE MOST WITH READING AND WRITING THROUGH INTENSIVE LITERACY INTERVENTION (READING RECOVERY).8) ADVOCATING FOR THE ADOPTION AND IMPLEMENTATION OF THE CURRENT RECOMMENDATIONS OF SARASOTA COUNTY'S AFFORDABLE HOUSING ADVISORY COMMITTEE, PARTICULARLY EXPLORING THE CREATION OF A LOCAL AFFORDABLE HOUSING TRUST FUND. GULF COAST ALSO FUNDS A VARIETY OF GRANTS TO SUPPORT THE WORK OF NONPROFIT ORGANIZATIONS IN THE REGION. GRANT PROGRAMS INCLUDE LEVERAGED GRANTS, WHICH FUND COLLABORATIVE PROJECTS AND PROGRAMS THAT TARGET REGIONAL PRIORITIES IN MEASURABLE WAYS; COMMUNITY GRANTS, WHICH FUND SMALLER PROJECTS AND NEEDS AT REGIONAL NONPROFIT ORGANIZATIONS THAT CAN HAVE SIGNIFICANT IMPACT IN THE COMMUNITY; AND ARTS APPRECIATION GRANTS, WHICH PROVIDE UNRESTRICTED FUNDING TO CORNERSTONE ARTS AND CULTURAL ORGANIZATIONS IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip P Lanham President/ceo | OfficerTrustee | 50 | $0 |
Mark Pritchett Former President/ceo | 50 | $326,714 | |
Chris Stobaugh CFO | Officer | 50 | $229,423 |
Veronica Thames COO | 50 | $247,312 | |
Kristin Prince Secretary | Officer | 40 | $64,616 |
Jon Thaxton Senior VP For Community In | Officer | 50 | $247,686 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
International Scholarship And Tuition Se Scholarship Awards | 6/29/21 | $596,258 |
Hirtle Callaghan Investment Advisor | 6/29/21 | $485,053 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $12,874 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,042,566 |
| Noncash contributions included in lines 1a–1f | $17,078,664 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,055,440 |
| Total Program Service Revenue | $3,907,688 |
| Investment income | $7,180,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,999,463 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,082,837 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,034,433 |
| Grants and other assistance to domestic individuals. | $720,855 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,469,069 |
| Compensation of current officers, directors, key employees. | $535,268 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $955,357 |
| Pension plan accruals and contributions | $242,769 |
| Other employee benefits | $308,160 |
| Payroll taxes | $206,305 |
| Fees for services: Management | $3,907,260 |
| Fees for services: Legal | $166,419 |
| Fees for services: Accounting | $57,419 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,052,611 |
| Fees for services: Other | $43,709 |
| Advertising and promotion | $82,661 |
| Office expenses | $81,580 |
| Information technology | $192,719 |
| Royalties | $0 |
| Occupancy | $121,403 |
| Travel | $36,143 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $135,559 |
| Interest | $48,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,254 |
| Insurance | $87,004 |
| All other expenses | $33,149 |
| Total functional expenses | $50,505,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,471,868 |
| Savings and temporary cash investments | $6,627,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170,146 |
| 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 | $16,211 |
| Net Land, buildings, and equipment | $2,730,168 |
| Investments—publicly traded securities | $380,931,973 |
| Investments—other securities | $50,006,124 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $443,953,807 |
| Accounts payable and accrued expenses | $331,352 |
| Grants payable | $2,681,670 |
| 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 | $1,632,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,401,784 |
| Total liabilities | $27,047,531 |
| Net assets without donor restrictions | $406,449,616 |
| Net assets with donor restrictions | $10,456,660 |
| 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 | $443,953,807 |
Grants Awarded
Over the last fiscal year, Gulf Coast Community Foundation Inc has awarded $36,251,800 in support to 515 organizations.
| Grant Recipient | Amount |
|---|---|
SCENIC HUDSON INC PURPOSE: ENVIRONMENT | $10,000 |
ROTARY FUTURES COLLEGE RESOURCE CENTER PURPOSE: EDUCATION | $21,070 |
SAFE KIDS WORLDWIDE PURPOSE: HUMAN SERVICES | $14,333 |
HEIFER PROJECT INTERNATIONAL INC PURPOSE: HUMAN SERVICES | $8,711 |
ASBURY COLLEGE PURPOSE: EDUCATION | $37,000 |
CATHOLIC CHARITIES FOUNDATION OF THE DIOCESE OF VENICE INC PURPOSE: HUMAN SERVICES | $6,000 |