Florida Education Fund Inc is located in Tampa, FL. The organization was established in 1988. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Florida Education Fund Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Education Fund 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 06/2022, Florida Education Fund Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $4.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Florida Education Fund Inc has awarded 74 individual grants totaling $1,523,538. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE GREATER INSTITUTIONAL AND EDUCATIONAL ADVANCEMENT FOR HISTORICALLY UNDERREPRESENTED GROUPS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCKNIGHT DOCTORAL FELLOWSHIP PROGRAM:ESTABLISHED IN 1984, THE FLORIDA EDUCATION FUND'S MCKNIGHT DOCTORAL FELLOWSHIP PROGRAM HAS INCREASED THE NUMBER OF AFRICAN AND HISPANIC AMERICANS WHO HAVE BEEN AWARDED THE PH.D. IN HISTORICALLY UNDERREPRESENTED, CRUCIAL DISCIPLINES AND FIELDS OF STUDY WHERE AFRICAN AND HISPANIC AMERICANS HAVE NOT HISTORICALLY ENROLLED AND COMPLETED DEGREE PROGRAMS. SOME 1,539 FELLOWSHIPS HAVE BEEN AWARDED TO AFRICAN AND HISPANIC AMERICANS PURSUING THE PH.D. DEGREE AND THE PROGRAM ENJOYS AN IMPRESSIVE NEAR 87% RETENTION RATE WHICH INCLUDED 381 MATRICULATING FELLOWS AND 954 GRADUATES. (CONTINUED ON SCHEDULE O)PRESENTLY 60 FELLOWS HAVE ADVANCED TO CANDIDACY. 70 FELLOWS GRADUATED IN 2022. 50 NEW MCKNIGHT FELLOWSHIPS AND 17 DISSERTATION FELLOWSHIPS WERE AWARDED FOR FALL 2022 TO STUDENTS PURSUING STUDIES AT ONE OF 9 PARTICIPATING INSTITUTIONS IN THE STATE OF FLORIDA. EACH FELLOWSHIP CONSISTS OF TUITION, FEES, AND STIPEND.
CENTERS OF EXCELLENCE:ESTABLISHED IN 1985, THE CENTERS OF EXCELLENCE (COE'S OR CENTERS) ARE COMMUNITY-BASED INITIATIVES WHOSE MISSION IS TO IDENTIFY AND MOTIVATE HISTORICALLY DISADVANTAGED MINORITY ELEMENTARY AND SECONDARY STUDENTS AND ULTIMATELY INCREASE THE POOL OF THESE STUDENTS MOTIVATED AND QUALIFIED TO ENTER COLLEGE. THIS MISSION INCLUDES: A) ASSUMING A MORE PROACTIVE STANCE IN THE EDUCATION OF YOUTH; B) EMPLOYING THE DEVELOPMENT OF A GROUP ACHIEVEMENT MODEL FOR DISADVANTAGED ELEMENTARY AND SECONDARY STUDENTS; AND, C) INCREASING THE POOL OF STUDENTS WHO ARE PREPARED, MOTIVATED AND QUALIFIED TO ENTER HIGHER EDUCATION.(CONTINUED ON SCHEDULE O)NINE CENTERS THROUGHOUT FLORIDA HAVE MORE THAN 19,000 HIGH ACHIEVING STUDENTS INTO THE NATIONAL ACHIEVERS SOCIETY. APPROXIMATELY 16,000 STUDENTS HAVE COMPETED IN THE ANNUAL BRAIN BOWL SCHOLARSHIP COMPETITIONS. APPROXIMATELY 11,992 HAVE PARTICIPATED IN SAT PREPARATION AND/OR COMPUTER PROGRAMMING COURSES, AFTER SCHOOL PROGRAMS AND SUMMER CAMPS.
MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM:THE MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM PROMOTES EXCELLENCE IN TEACHING AND RESEARCH BY UNDERREPRESENTED MINORITIES AND WOMEN. TO IMPROVE THEIR CHANCES OF EARNING TENURE AND PROMOTION, FELLOWS RECEIVE A ONE-YEAR SABBATICAL WITH FULL SALARY AND BENEFITS. DURING THE SABBATICAL, FELLOWS ARE REQUIRED TO ENGAGE IN RESEARCH AND TRAINING PROJECTS DIRECTLY RELATED TO THEIR EFFORTS TO SECURE TENURE AND PROMOTION. WHILE THE PARTICIPATING UNIVERSITY PAYS THE FELLOW'S SALARY, THE FEF PAYS THE UNIVERSITY $15,000 TO ASSIST WITH NECESSARY TEACHING REPLACEMENTS AND SUPPORT COSTS. SINCE 1984, THE FEF HAS AWARDED 254 JUNIOR FACULTY FELLOWSHIPS TO AFRICAN AMERICANS, WOMEN AND OTHER HISTORICALLY UNDERREPRESENTED MINORITIES. (CONTINUED ON SCHEDULE O)THIS INCLUDES FIVE NEW JUNIOR FACULTY FELLOWSHIPS FOR THE 2022-2023 ACADEMIC YEAR. THE MCKNIGHT JUNIOR FACULTY FELLOWSHIP PROGRAM ADVANCES FACULTY DIVERSITY WITHIN FLORIDA COLLEGES AND UNIVERSITIES. OF THE 254 FELLOWS AWARDED SINCE 1984, 93 HAVE OBTAINED TENURE OR PROMOTION OR HAVE EARNED DOCTORAL DEGREES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Lawrence Morehouse President & CEO | Officer | 40 | $260,889 |
Lyra Logan Vp/general Counsel | Officer | 40 | $203,728 |
Omobola Olulade Controller | Officer | 40 | $106,960 |
Dr Robert L Nixon Board Chair | Trustee | 0.32 | $0 |
Dr Sylvia Wilson Thomas Secretary/treasurer | Trustee | 0.32 | $0 |
Dr Dovie Gamble Member | Trustee | 0.32 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $3,934,115 |
All other contributions, gifts, grants, and similar amounts not included above | $652,526 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,586,641 |
Total Program Service Revenue | $29,893 |
Investment income | $355,435 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $684,094 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,657,591 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $149,223 |
Grants and other assistance to domestic individuals. | $1,922,573 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $622,010 |
Compensation of current officers, directors, key employees. | $229,708 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $269,833 |
Pension plan accruals and contributions | $44,648 |
Other employee benefits | $37,555 |
Payroll taxes | $55,162 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,500 |
Fees for services: Accounting | $38,896 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $183,032 |
Fees for services: Other | $487,260 |
Advertising and promotion | $5,993 |
Office expenses | $63,178 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $28,590 |
Travel | $18,109 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $18,368 |
Interest | $6,915 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $79,093 |
Insurance | $0 |
All other expenses | $2,712 |
Total functional expenses | $4,034,650 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $887,705 |
Pledges and grants receivable | $168,457 |
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 | $7,732 |
Net Land, buildings, and equipment | $1,900 |
Investments—publicly traded securities | $22,282,350 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $97,939 |
Other assets | $33,666 |
Total assets | $23,479,749 |
Accounts payable and accrued expenses | $629,401 |
Grants payable | $0 |
Deferred revenue | $834,920 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $105,763 |
Total liabilities | $1,570,084 |
Net assets without donor restrictions | $21,844,071 |
Net assets with donor restrictions | $65,594 |
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 | $23,479,749 |
Over the last fiscal year, Florida Education Fund Inc has awarded $149,223 in support to 9 organizations.
Grant Recipient | Amount |
---|---|
ATLANTIC COAST CENTER OF EXCELLENCE PURPOSE: TO MOTIVATE ELEMENTARY AND SECONDARY STUDENTS TO PREPARE FOR COLLEGE - SEE FORM 990, PART III, LINE 4B | $26,000 |
SANTA FE COMMUNITY COLLEGE CENTER OF EXCELLENCE PURPOSE: SAME AS ABOVE | $23,300 |
SOUTH FLORIDA CENTER OF EXCELLENCE PURPOSE: SAME AS ABOVE | $22,370 |
ST PETERSBURG COLLEGE CENTER OF EXCELLENCE PURPOSE: SAME AS ABOVE | $15,750 |
PALM BEACH COUNTY CENTER OF EXCELLENCE PURPOSE: SAME AS ABOVE | $15,000 |
UNIVERSITY OF CENTRAL FLORIDA CENTER OF EXCELLENCE PURPOSE: SAME AS ABOVE | $12,901 |
Over the last fiscal year, we have identified 2 grants that Florida Education Fund Inc has recieved totaling $118,819.
Awarding Organization | Amount |
---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $108,819 |
William J & Tina Rosenberg Foundation Las Vegas, NV PURPOSE: GENERAL OPERATING | $10,000 |
Beg. Balance | $20,000 |
Ending Balance | $20,000 |
Organization Name | Assets | Revenue |
---|---|---|
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |