Indian River State College Fdn Inc
- Assets
- $183.4m
- Revenue
- $29.6m
- Investments
- $145.9k
- Employees
- 0
- Location
- Fort Pierce, FL
- Founding
- 01/1966
- Data as of
- 03/2022
- EIN
- 59-1105591
Organization Overview
Indian River State College Fdn Inc is located in Fort Pierce, FL. The organization was established in 1966. 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. Indian River State College Fdn 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 03/2022, Indian River State College Fdn Inc generated $29.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $10.7m during the year ending 03/2022. While expenses have increased by 11.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT INDIAN RIVER STATE COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO STUDENTS AND GRANTS TO OR FOR THE BENEFIT OF INDIAN RIVER STATE COLLEGE
PROVISION OF REAL PROPERTY AND OTHER FACILITIES FOR USE BY INDIAN RIVER STATE COLLEGE OR ITS STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Abernethy Second Vice | OfficerTrustee | 1 | $0 |
Michael Adams Audit Commit | OfficerTrustee | 1 | $0 |
Anthony Tony George Bot Chair Au | OfficerTrustee | 1 | $0 |
William Bill Marine Vice Chair | OfficerTrustee | 1 | $0 |
Doug Marcello Investment C | OfficerTrustee | 1 | $0 |
Bert Culbreth Fundraising | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The P5 Group Llc Lobbying Servs | 3/30/22 | $120,000 |
Edgewood Management Llc Investment Mmgt | 3/30/22 | $108,755 |
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 | $9,630,323 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,630,323 |
| Total Program Service Revenue | $1,179,235 |
| Investment income | $3,306,090 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,701,266 |
| Net Income from Fundraising Events | $33,059 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,628,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,418,567 |
| Grants and other assistance to domestic individuals. | $4,869,290 |
| 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 | $421,767 |
| 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 | $208,461 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $785,218 |
| Advertising and promotion | $67,791 |
| Office expenses | $63,076 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,923 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $435,568 |
| Insurance | $18,670 |
| All other expenses | $51,266 |
| Total functional expenses | $10,713,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,984,398 |
| Savings and temporary cash investments | $1,253,885 |
| Pledges and grants receivable | $2,099,545 |
| 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 | $109,965 |
| Net Land, buildings, and equipment | $5,073,428 |
| Investments—publicly traded securities | $167,494,970 |
| Investments—other securities | $145,948 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,235,180 |
| Total assets | $183,397,319 |
| Accounts payable and accrued expenses | $4,923,859 |
| Grants payable | $0 |
| Deferred revenue | $52,135 |
| 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 | $4,396,994 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,430,642 |
| Total liabilities | $19,803,630 |
| Net assets without donor restrictions | $48,365,752 |
| Net assets with donor restrictions | $115,227,937 |
| 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 | $183,397,319 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Indian River State College Fdn Inc has recieved totaling $3,387,182.
| Awarding Organization | Amount |
|---|---|
Charles and Sandra Johnston Foundation Jupiter, FL PURPOSE: EDUCATIONAL | $3,000,000 |
Tsic Inc Fort Lauderdale, FL PURPOSE: MENTORING | $156,722 |
William & Helen Thomas Charitable Trust Dallas, TX PURPOSE: SUPPORT STEM CENTER | $60,000 |
Wharton-Smith Foundation Inc Sanford, FL PURPOSE: CHARITABLE DONATION | $40,000 |
Florida College System Foundation Inc Tallahassee, FL PURPOSE: VARIOUS AWARDS | $39,920 |
Hobe Sound Community Chest Inc Hobe Sound, FL PURPOSE: ASSIST ORGANIZATION | $25,000 |
Endowment Analysis
| Beg. Balance | $28,526,945 |
| Earnings | $6,678,146 |
| Net Contributions | $793,264 |
| Grants | $4,869,290 |
| Ending Balance | $31,129,065 |
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 |