Florida Bankers Educational Foundation
- Assets
- $2.8m
- Revenue
- $269.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 05/1958
- Data as of
- 06/2023
- EIN
- 59-6139568
Organization Overview
Florida Bankers Educational Foundation is located in Tallahassee, FL. The organization was established in 1958. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Florida Bankers Educational Foundation 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 06/2023, Florida Bankers Educational Foundation generated $269.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.0% each year . All expenses for the organization totaled $353.6k during the year ending 06/2023. While expenses have increased by 13.0% per year over the past 8 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
IT IS THE MISSION OF THE FLORIDA BANKERS EDUCATIONAL FOUNDATION TO ADVANCE CAREERS IN BANKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GRANTS SCHOLARSHIP/LOAN ASSISTANCE TO BANKERS SEEKING TO ADVANCE THEIR COLLEGE EDUCATION AND/OR PROFESSIONAL DEVELOPMENT. ALL LOANS GRANTED CONTAIN A FORGIVENESS FEATURE WHICH STATES THAT AFTER A STUDENT GRADUATES FROM COLLEGE, THE LOAN WILL BE FORGIVEN IF THE GRADUATE COMPLETES ONE YEAR OF FULL-TIME CONTINUOUS EMPLOYMENT WITH A FLORIDA BANK. IN 2022 - 2023, THE FOUNDATION GRANTED 3 SCHOLARSHIP/LOAN FOR $8,500 AND FORGAVE IN FULL 1 SCHOLARSHIP/LOAN FOR A TOTAL OF $5,600.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Payne Turner Chair | OfficerTrustee | 0.25 | $0 |
Bethany H Corum Vice Chair | OfficerTrustee | 0.25 | $0 |
Connie Frady Trustee | Trustee | 0.25 | $0 |
Fred Leopold Trustee | Trustee | 0.25 | $0 |
Edward Meggs Trustee | Trustee | 0.25 | $0 |
Cathy P Swanson Trustee | Trustee | 0.25 | $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 | $284,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,166 |
| Total Program Service Revenue | $0 |
| Investment income | $67,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$83,796 |
| Net Income from Fundraising Events | $2,315 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $269,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000 |
| Grants and other assistance to domestic individuals. | $218,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $61,973 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $8,484 |
| Other employee benefits | $10,016 |
| Payroll taxes | $4,740 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,137 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $959 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,092 |
| Travel | $604 |
| 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 | $0 |
| Insurance | $1,044 |
| All other expenses | $0 |
| Total functional expenses | $353,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,126 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,673 |
| 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 | $1,690 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,723,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,762,765 |
| Accounts payable and accrued expenses | $44,623 |
| Grants payable | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $44,623 |
| Net assets without donor restrictions | $2,578,142 |
| Net assets with donor restrictions | $140,000 |
| 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 | $2,762,765 |