College Of Central Florida Foundation Inc
- Assets
- $129.3m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Ocala, FL
- Founding
- 10/1964
- Data as of
- 12/2023
- EIN
- 59-6139037
Organization Overview
College Of Central Florida Foundation Inc is located in Ocala, FL. The organization was established in 1964. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. College Of Central Florida 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 12/2023, College Of Central Florida Foundation Inc generated $14.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 5.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLEGE OF CENTRAL FLORIDA FOUNDATION IS AN ORGANIZATION ESTABLISHED TO PROVIDE LEADERSHIP SERVICE, VOLUNTARY ACTION, CHARITABLE GIVING AND COMMUNITY INVOLVEMENT. IT ALSO PROVIDES A VARIETY OF EDUCATIONAL AND CULTURAL EVENTS TO ADD TO THE QUALITY OF LEARNING FOR OUR STUDENTS AND TO THE COMMUNITY. DURING 2023, CF FOUNDATION DONORS HAVE REMAINED LOYAL TO THE COLLEGE MISSION DONATING 4,041,152 IN SUPPORT, ESTABLISHING 11 NEW ENDOWMENTS, AND PROVIDING EXISTING PROGRAM SUPPORT. THE PROMISE FOR THE FUTURE FUND OF 4.6 MILLION SUPPORTS PROGRAM DEVELOPMENT, A FOUNDATION AND COLLEGE FUNDING PRIORITY. ADDITIONAL FUNDING DONATED THROUGH THE PROMISE FOR THE FUTURE CAMPAIGN OF 1.9 MILLION IS AVAILABLE FOR THE NEWLY COMPLETED LEVY COUNTY CAMPUS FACILITY AND PROGRAMS. SCHOLARSHIPS TAKING ELEMENTARY PROMISING STUDENTS TO CF (STEPS TO CF) REMAINS A UNIQUE AND INSPIRING PROGRAM THAT AWARDS FIFTH GRADE ELEMENTARY STUDENTS FROM DONOR- ADOPTED SCHOOLS SCHOLARSHIPS TO THE COLLEGE UPON THEIR EVENTUAL HIGH
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS INCLUDE ENDOWMENT CHAIR/GRANT PROGRAM SUPPORT
INSTITUTIONAL SUPPORT FOR THE COLLEGE INCLUDING OWNING AND OPERATING THE ENTERPRISE CENTER, A SCHOOL-TO-WORK FACILITY BUILT BY THE ORGANIZATION.
SCHOLARSHIPS: FUNDS PROVIDED TO STUDENTS TO HELP PAY THE COSTS OF EDUCATION. RECIPIENT NAMES AND ADDRESSES ARE AVAILABLE IN THE ORGANIZATION'S RECORDS. IN 2023, SCHOLARSHIPS TOTALING 1,123,983 WERE AWARDED TO 1,260 RECIPIENTS.
STUDENT HOUSING: THE FOUNDATION OWNS AND OPERATES A 192 UNIT APARTMENT COMPLEX FOR STUDENTS OF THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher R Knife CEO | Officer | 37.5 | $0 |
Dawn Gonsalves CFO | Officer | 37.5 | $0 |
Jeremy Applegate Director | Trustee | 1 | $0 |
Jerry Benton Member-At-La | Trustee | 1 | $0 |
Greg Blair Chair | OfficerTrustee | 1 | $0 |
J Warren Bullard Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stentiford Construction Service Inc Construction | 12/30/20 | $293,100 |
Sei Investment Management Corp Invest. Advisor | 12/30/20 | $244,306 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,550 |
| Fundraising events | $6,432 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,172,505 |
| Noncash contributions included in lines 1a–1f | $448,630 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,184,487 |
| Total Program Service Revenue | $1,197,668 |
| Investment income | $4,608,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,500 |
| Net Gain/Loss on Asset Sales | $149,146 |
| Net Income from Fundraising Events | $30,920 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,177,758 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,664,780 |
| Grants and other assistance to domestic individuals. | $1,123,983 |
| 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 | $370,173 |
| Fees for services: Legal | $2,185 |
| Fees for services: Accounting | $43,235 |
| Fees for services: Lobbying | $115,270 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $345,419 |
| Fees for services: Other | $0 |
| Advertising and promotion | $665 |
| Office expenses | $34,610 |
| Information technology | $6,113 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $861 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $225,767 |
| Insurance | $60,282 |
| All other expenses | $10,860 |
| Total functional expenses | $5,159,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,466,084 |
| Savings and temporary cash investments | $13,459,966 |
| Pledges and grants receivable | $122,897 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,919 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $58,609 |
| Net Land, buildings, and equipment | $23,052,396 |
| Investments—publicly traded securities | $90,823,978 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $280,238 |
| Total assets | $129,274,087 |
| Accounts payable and accrued expenses | $357,417 |
| Grants payable | $471,498 |
| Deferred revenue | $154,006 |
| 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 | $257,101 |
| Total liabilities | $1,240,022 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,609,535 |
| Paid-in or capital surplus, or land, building, or equipment fund | $23,052,396 |
| Retained earnings, endowment, accumulated income, or other funds | $96,372,134 |
| Total liabilities and net assets/fund balances | $129,274,087 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Andrew College Cuthbert, GA | $30,405,754 | $11,268,305 |
College Of Central Florida Foundation Inc Ocala, FL | $129,274,087 | $14,177,758 |
Abraham Baldwin Agricultural College Foundation Inc Tifton, GA | $40,591,828 | $6,885,022 |
Eastern Florida State College Foundation Inc Cocoa, FL | $28,835,881 | $2,758,035 |
Lake Sumter State College Foundation Inc Leesburg, FL | $30,852,386 | $4,073,247 |
The Foundation For Florida Gateway College Inc Lake City, FL | $24,504,179 | $1,283,966 |
Georgia Highlands College Foundation Inc Rome, GA | $18,584,278 | $1,130,739 |
Shelton State Community College Foundation Inc Tuscaloosa, AL | $3,739,689 | $690,150 |
Jefferson State Community College Foundation Inc-Jefferson County Birmingham, AL | $3,224,160 | $1,600,349 |
Alabama Southern Community College Foundation Monroeville, AL | $378,954 | $0 |
Schindler Family Foundation Inc Miami, FL | $121,977 | $5,331 |