Polk State College Foundation Inc
- Assets
- $44.5m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Winter Haven, FL
- Founding
- 06/1983
- Data as of
- 12/2021
- EIN
- 59-1819213
Organization Overview
Polk State College Foundation Inc is located in Winter Haven, FL. The organization was established in 1983. 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. Polk State College 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 12/2021, Polk State College Foundation Inc generated $4.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE POLK STATE COLLEGE WITH RESOURCES FOR THE ADVANCEMENT OF THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGH AWARDING MORE THAN $1 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDS ARE DONOR DIRECTED AND HELP LIFT UP STUDENTS THROUGHOUT THE COLLEGE POPULATION. FIRST GENERATION, ALLIED HEALTH, PUBLIC SAFETY, ATHLETICS, THE ARTS AND EMERGENCY SCHOLARSHIPS ARE A FEW EXAMPLES OF DONOR DESIGNATIONS. IN ADDITION TO TRADITIONAL AND NON-TRADITIONAL SCHOLARSHIP AWARDS, THE FOUNDATION HAS A POPULAR ELEMENTARY SCHOLARSHIP PROGRAM, WHERE AT LEAST ONE GRADUATE OF EVERY ELEMENTARY SCHOOL IN POLK COUNTY IS AWARDED A SCHOLARSHIP TO ATTEND POLK STATE UPON GRADUATION FROM HIGH SCHOOL. THE FOUNDATION ALSO HELPS TO ELEVATE THE COLLEGE THROUGH AN ENDOWED TEACHING CHAIR PROGRAM THAT HONORS DISTINGUISHED FACULTY. (CONTINUED ON SCHEDULE O)POLK STATE COLLEGE HAS BEEN FURTHER STRENGTHENED BY DONOR CONTRIBUTIONS TO THE FOUNDATION FOR FACILITIES, EQUIPMENT, PROGRAMS AND TECHNOLOGY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greta Dupuy Chair | OfficerTrustee | 0.5 | $0 |
David Fisher Vice Chair | OfficerTrustee | 0.5 | $0 |
Jennifer Hall Treasurer | OfficerTrustee | 0.5 | $0 |
Bo Boyte Development Chair/secretary | OfficerTrustee | 0.5 | $0 |
Cindy Baker Chief Financial Officer | Officer | 50 | $0 |
Jeff Baldwin Executive Director | Officer | 50 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $83,407 |
| Related organizations | $0 |
| Government grants | $7,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,107,416 |
| Noncash contributions included in lines 1a–1f | $13,495 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,198,423 |
| Total Program Service Revenue | $0 |
| Investment income | $752,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,385,921 |
| Net Income from Fundraising Events | -$38,100 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,298,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $174,649 |
| Grants and other assistance to domestic individuals. | $990,972 |
| 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 | $1,880 |
| Fees for services: Accounting | $39,438 |
| Fees for services: Lobbying | $120,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $310,258 |
| Fees for services: Other | $163,728 |
| Advertising and promotion | $12,877 |
| Office expenses | $44,816 |
| Information technology | $63,330 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $655 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,850 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,754 |
| Total functional expenses | $1,944,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,472,323 |
| Savings and temporary cash investments | $66,395 |
| Pledges and grants receivable | $792,129 |
| Accounts receivable, net | $24,480 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $116,336 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $40,989,458 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,278 |
| Total assets | $44,521,399 |
| Accounts payable and accrued expenses | $139,757 |
| Grants payable | $423,547 |
| 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 | $2,177 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $565,481 |
| Net assets without donor restrictions | $1,462,482 |
| Net assets with donor restrictions | $42,493,436 |
| 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 | $44,521,399 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Polk State College Foundation Inc has recieved totaling $43,500.
| Awarding Organization | Amount |
|---|---|
Homer And Annette Thompson Foundation Wilmington, DE PURPOSE: WINTER HAVEN POLICE & FIRE DEPARTMENTS SCHOLARSHIP FUND | $40,000 |
Homer And Annette Thompson Foundation Wilmington, DE PURPOSE: WINTER HAVEN POLICE & FIRE DEPARTMENTS SPECIAL TRAINING | $3,500 |
Endowment Analysis
| Beg. Balance | $34,137,822 |
| Earnings | $4,165,220 |
| Net Contributions | $185,637 |
| Grants | $866,790 |
| Ending Balance | $37,621,889 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
Oxbridge Academy Foundation Inc West Palm Beach, FL | $65,288,192 | $19,905,008 |
University Of West Florida Foundation Inc Pensacola, FL | $164,565,433 | $23,515,652 |
Gator Boosters Inc Gainesville, FL | $35,445,358 | $17,089,938 |
The University Of North Florida Foundation Inc Jacksonville, FL | $189,463,504 | $37,925,600 |
Usf Health Professions Conferencing Corporation Tampa, FL | $17,834,474 | $17,025,476 |
Florida Agricultural & Mechanical Univ Foundation Inc Tallahassee, FL | $165,576,820 | $45,594,915 |
Jessie Ball Dupont Religious Charitable & Educational Fund Jacksonville, FL | $0 | $23,306,581 |
Avant Garde Academy Foundation Inc Hollywood, FL | $46,079,616 | $17,259,977 |
Florida State University Research Foundation Inc Tallahassee, FL | $238,210,385 | $28,107,542 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
Fsu Financial Assistance Inc Tallahassee, FL | $147,384,832 | $12,995,500 |