Fsu Financial Assistance Inc
- Assets
- $147.4m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Tallahassee, FL
- Founding
- 02/1985
- Data as of
- 06/2021
- EIN
- 59-2477517
Organization Overview
Fsu Financial Assistance Inc is located in Tallahassee, FL. The organization was established in 1985. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Fsu Financial Assistance Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fsu Financial Assistance 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 06/2021, Fsu Financial Assistance Inc generated $13.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $12.9m during the year ending 06/2021. While expenses have increased by 10.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FSU FINANCIAL ASSISTANCE, INC. IS A DIRECT-SUPPORT ORGANIZATION OF FLORIDA STATE UNIVERSITY CREATED FOR THE PURPOSE OF SECURING BOND FINANCING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES RELATED TO SERIES 2012, 2013, & 2015 REFUNDING BONDS. PROCEEDS FROM BONDS ARE ALSO USED FOR STADIUM, ATHLETIC FACILITIES, AND OTHER EDUCATIONAL FACILITIES EXPANSION AND IMPROVEMENTS.
MANAGE AND RECEIVE REVENUES FROM CONFERENCE SUITES (SKYBOXES), SEAT SALES, AND STADIUM LEASE DURING THE PERIODS OF TIME THEY ARE NOT NEEDED FOR UNIVERSITY EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Alford President (thru 1/2/22) | OfficerTrustee | 10 | $0 |
Stephen Ponder President (starting 6/20/22) | OfficerTrustee | 10 | $0 |
William O Bell Secretary | OfficerTrustee | 0.1 | $0 |
Kyle Clark Treasurer | OfficerTrustee | 0.1 | $0 |
Charlie Dudley Director | Trustee | 0.1 | $0 |
Clif Curry Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,212,094 |
| Investment income | $385 |
| 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 | $12,995,500 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $643,825 |
| Pension plan accruals and contributions | $7,738 |
| Other employee benefits | $28,758 |
| Payroll taxes | $24,359 |
| 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 | $116,041 |
| Advertising and promotion | $6,815 |
| Office expenses | $88,249 |
| 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 | $5,145,155 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,641,460 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,903,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,091,521 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $469,760 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,819,740 |
| Total assets | $147,384,832 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $6,903,769 |
| Tax-exempt bond liabilities | $127,360,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,759,358 |
| Total liabilities | $137,023,127 |
| 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 |
| Total liabilities and net assets/fund balances | $10,361,705 |