South Florida State College Foundation Inc
- Assets
- $21.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Avon Park, FL
- Founding
- 10/1985
- Data as of
- 12/2021
- EIN
- 59-3050497
Organization Overview
South Florida State College Foundation Inc is located in Avon Park, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Florida 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, South Florida State College Foundation Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 0.8% 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
ASSIST SOUTH FLORIDA STATE COLLEGE IN THE DELIVERY OF EDUCATIONAL SERVICES TO THE CITIZENS OF HIGHLANDS, HARDEE, AND DESOTO COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO SOUTH FLORIDA STATE COLLEGE STUDENTS AND TAKE STOCK IN CHILDREN SCHOLARSHIPS
DORMS AND OTHER SERVICES TO SOUTH FLORIDA STATE COLLEGE STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Elwell Treasurer | OfficerTrustee | 2 | $0 |
Robin Weeks Vice Preside | OfficerTrustee | 2 | $0 |
William R Jarrett Jr Secretary | OfficerTrustee | 2 | $0 |
Tres Stephenson President | OfficerTrustee | 2 | $0 |
Dr Catherine P Cornelius Director | Trustee | 1 | $0 |
Robert E Duncan Director | Trustee | 1 | $0 |
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 | $1,087,045 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,087,045 |
| Total Program Service Revenue | $0 |
| Investment income | $291,772 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,694,478 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $485,170 |
| 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 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 | $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 | $0 |
| Advertising and promotion | $4,287 |
| Office expenses | $21,296 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,541 |
| Travel | $7,680 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,398 |
| Insurance | $68,041 |
| All other expenses | $433,404 |
| Total functional expenses | $1,667,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,158,863 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,868 |
| 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 | $60,647 |
| Net Land, buildings, and equipment | $853,657 |
| Investments—publicly traded securities | $18,413,248 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,232 |
| Total assets | $21,559,515 |
| Accounts payable and accrued expenses | $195,822 |
| Grants payable | $0 |
| Deferred revenue | $18,230 |
| 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 | $606,667 |
| Total liabilities | $820,719 |
| Net assets without donor restrictions | $3,318,106 |
| Net assets with donor restrictions | $17,420,690 |
| 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 | $21,559,515 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that South Florida State College Foundation Inc has recieved totaling $95,073.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: PROGRAM SUPPORT, SCHOLARSHIP SUPPORT | $61,000 |
Florida College System Foundation Inc Tallahassee, FL PURPOSE: VARIOUS AWARDS | $23,869 |
Carney Foundation Clifton, VA PURPOSE: FURTHERANCE OF CHARITABLE PURPOSES | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $204 |
Endowment Analysis
| Beg. Balance | $12,178,909 |
| Earnings | $1,856,093 |
| Net Contributions | $6,399 |
| Other Expense | $362,714 |
| Ending Balance | $13,678,687 |
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 |