Florida State University Foundation Inc
- Assets
- $996.4m
- Revenue
- $96.0m
- Investments
- $826.0m
- Employees
- 145
- Location
- Tallahassee, FL
- Founding
- 11/1963
- Data as of
- 06/2023
- EIN
- 59-6152180
Organization Overview
Florida State University Foundation Inc is located in Tallahassee, FL. The organization was established in 1963. 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 06/2023, Florida State University Foundation Inc employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida State University 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 06/2023, Florida State University Foundation Inc generated $96.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $76.2m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Florida State University Foundation Inc has awarded 76 individual grants totaling $234,109,584. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FLORIDA STATE UNIVERSITY FOUNDATION ENHANCES THE ACADEMIC MISSION AND VISION OF FLORIDA STATE UNIVERSITY THROUGH ITS ORGANIZED FUNDRAISING ACTIVITIES AND FUNDS MANAGEMENT. THE FSU FOUNDATION ACCOMPLISHES ITS MISSION BY FOSTERING RELATIONSHIPS WITH ALUMNI AND FRIENDS, ADVOCATING CHARITABLE GIVING AND RAISING FUNDS ON BEHALF OF FSU, SOLICITING CONTRIBUTIONS FOR ACADEMIC PURPOSES AS PART OF FSU'S OVERALL ADVANCEMENT EFFORT, INVESTING AND EXPENDING FUNDS TO MEET CURRENT AND FUTURE NEEDS OF FSU, AND STRENGTHENING RELATIONSHIPS WITH DONORS TO FSU.
Describe the Organization's Program Activity:
THE FLORIDA STATE UNIVERSITY FOUNDATION EXPENDS FUNDS FOR PURPOSES THAT ENHANCE THE ACADEMIC MISSION OF FLORIDA STATE UNIVERSITY. ACADEMIC SUPPORT INCLUDES SALARIES, SCHOLARSHIPS & FELLOWSHIPS, RESEARCH, CAPITAL FUNDING, EQUIPMENT & SUPPLIES, TRAVEL, AND OTHER EXPENSES. THIS SUPPORT HELPS THE UNIVERSITY'S OUTSTANDING FACULTY INSPIRE STUDENTS, FOSTER AND ENHANCE STRONG ACADEMIC PROGRAMS, AND SERVE AS A KEY ELEMENT TO INSTITUTIONAL GREATNESS. EMINENT SCHOLARS AND PROFESSORSHIPS ARE PRESTIGIOUS POSITIONS HELD BY THE UNIVERSITY'S MOST ACCOMPLISHED FACULTY. SPENDING TO SUPPORT THESE POSITIONS MEANS THAT ACADEMIC EXCELLENCE WILL BE MAINTAINED. CURRICULUM DEVELOPMENT, INTERNSHIPS, INTERDISCIPLINARY WORK, EXPERIENTIAL LEARNING AND ACADEMIC ENRICHMENT ALL REQUIRE PRIVATE SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Mccullough Trustee/ex Officio V, Fsu President | Trustee | 1 | $0 |
Michael D Hartline Partial Year Trustee/ex Officio V, Interim Foundation President | OfficerTrustee | 20 | $0 |
Michael T Queen Trustee/voting Ex Officio Trustee, Provost-Appoint | Trustee | 1 | $0 |
Eric K Chicken Partial Year Trustee/ex Officio V, Faculty Senate President | Trustee | 1 | $0 |
Marla A Vickers Trustee/ex Officio V, VP For University Advancemen | Trustee | 12 | $0 |
Bridgett Y Birmingham Trustee/ex Officio V, Faculty Senate President | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Investment Consulting | 6/29/23 | $1,151,933 |
Ruffalo Noel Levitz Fundraising Services | 6/29/23 | $455,895 |
Blackbaud Inc Software Provider | 6/29/23 | $224,089 |
Rsm Us Llp Accounting Services | 6/29/23 | $219,883 |
Grenzebach Glier & Associates Campaign Consulting | 6/29/23 | $305,786 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $428,558 |
| Related organizations | $7,852,742 |
| Government grants | $1,823,884 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,435,782 |
| Noncash contributions included in lines 1a–1f | $4,238,633 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,540,966 |
| Total Program Service Revenue | $770,882 |
| Investment income | $10,548,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,128 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,703,184 |
| Net Income from Fundraising Events | -$102,359 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,038,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,774,443 |
| 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. | $740,641 |
| Compensation of current officers, directors, key employees. | $246,817 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,338,305 |
| Pension plan accruals and contributions | $856,995 |
| Other employee benefits | $1,360,470 |
| Payroll taxes | $643,820 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,572 |
| Fees for services: Accounting | $261,366 |
| Fees for services: Lobbying | $122,886 |
| Fees for services: Fundraising | $403,311 |
| Fees for services: Investment Management | $14,617,913 |
| Fees for services: Other | $4,267,541 |
| Advertising and promotion | $1,569,597 |
| Office expenses | $3,571,542 |
| Information technology | $326,005 |
| Royalties | $436,613 |
| Occupancy | $1,128,198 |
| Travel | $2,800,716 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $550,249 |
| Interest | $4,216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $344,197 |
| Insurance | $226,435 |
| All other expenses | $1,568,156 |
| Total functional expenses | $76,186,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,180,288 |
| Savings and temporary cash investments | $60,818,585 |
| Pledges and grants receivable | $51,386,749 |
| Accounts receivable, net | $51,411 |
| 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 | $248,783 |
| Net Land, buildings, and equipment | $5,328,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $826,011,175 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,413,301 |
| Total assets | $996,438,473 |
| Accounts payable and accrued expenses | $127,460 |
| Grants payable | $0 |
| Deferred revenue | $1,336,883 |
| 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 | $2,388,520 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,188,419 |
| Total liabilities | $23,041,282 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $252,727,696 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,991,436 |
| Retained earnings, endowment, accumulated income, or other funds | $717,678,059 |
| Total liabilities and net assets/fund balances | $996,438,473 |
Grants Awarded
Over the last fiscal year, Florida State University Foundation Inc has awarded $26,774,443 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE FLORIDA STATE UNIVERSITY ALUMNI ASSOCIATION PURPOSE: SUPPORT FOR THE ALUMNI ASSOCIATION | $125,000 |
THE FLORIDA STATE UNIVERSITY PURPOSE: SUPPORT SCHOLARSHIPS AND UNIVERSITY PROGRAMS | $26,549,443 |
FSU REAL ESTATE FOUNDATION PURPOSE: SUPPORT FOR THE REAL ESTATE FOUNDATION | $100,000 |