Miami Dade College Foundation Inc
- Assets
- $203.1m
- Revenue
- $26.1m
- Investments
- $11.3m
- Employees
- 0
- Location
- Miami, FL
- Founding
- 04/1966
- Data as of
- 03/2020
- EIN
- 59-6169745
Organization Overview
Miami Dade College Foundation Inc is located in Miami, FL. The organization was established in 1966. 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. Miami Dade 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 03/2020, Miami Dade College Foundation Inc generated $26.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $19.3m during the year ending 03/2020. While expenses have increased by 2.9% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
A DIRECT SUPPORT ORGANIZATION FOR MIAMI DADE COLLEGE (SEE SCHEDULE O FOR ADDITIONAL INFORMATION)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED NUMEROUS SCHOLARSHIPS DURING THE CURRENT YEAR WITH A VAST MAJORITY TO STUDENTS ATTENDING MIAMI DADE COLLEGE. THE REMAINING SCHOLARSHIPS WERE AWARDED TO GRADUATES OF THE COLLEGE FOR FURTHER STUDIES AT OTHER COLLEGES AND UNIVERSITIES.A SIGNIFICANT NUMBER OF SCHOLARSHIP RECIPIENTS ARE CONSIDERED LOW INCOME AND LIVE BELOW THE FEDERAL POVERTY LEVEL.
THE FOUNDATION ALSO SUPPORTS EVENTS,PROGRAMS AND CULTURAL ACTIVITIES OF THE COLLEGE SUCH AS THE MIAMI FILM FESTIVAL AND MIAMI BOOK FAIR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Roddy Chief Financial Officer | 40 | $144,586 | |
Ana Martinez Avp Of Development | 40 | $126,529 | |
Mark Cole Executive Director | 40 | $112,885 | |
Madeline Pumariega Miami Dade College President | OfficerTrustee | 2 | $0 |
Carlos R Fernandez-Guzman Vice Chair | OfficerTrustee | 4 | $0 |
Alfredo Salas Chairman | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hesi Division Of Elsevier Inc Nursing Tutoring Package | 3/30/18 | $362,036 |
Light Concept Solutions Inc Audio Visual For Special Event | 3/30/18 | $158,499 |
Harris Travel Service Inc Travel Services | 3/30/18 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,679,997 |
| Investment income | $2,330,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,400,852 |
| Net Income from Fundraising Events | $373,380 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,102,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $8,473,291 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $182,948 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,212,312 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $451,533 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,057 |
| Fees for services: Accounting | $60,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $438,641 |
| Fees for services: Other | $748,713 |
| Advertising and promotion | $335,265 |
| Office expenses | $190,824 |
| Information technology | $172,987 |
| Royalties | $0 |
| Occupancy | $174,144 |
| Travel | $103,085 |
| 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 | $9,375 |
| All other expenses | $0 |
| Total functional expenses | $19,313,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $47,864,654 |
| Pledges and grants receivable | $4,382,766 |
| Accounts receivable, net | $371,754 |
| 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 | $0 |
| Investments—publicly traded securities | $86,768,372 |
| Investments—other securities | $11,334,945 |
| Investments—program-related | $51,850,617 |
| Intangible assets | $0 |
| Other assets | $499,872 |
| Total assets | $203,072,980 |
| Accounts payable and accrued expenses | $511,492 |
| 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 | $25,869,776 |
| Total liabilities | $26,381,268 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $176,691,712 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Miami Dade College Foundation Inc has recieved totaling $125,000.
| Awarding Organization | Amount |
|---|---|
Gerald Sprayregen Charitable Foundation Palm Beach, FL PURPOSE: EDUCATIONAL | $125,000 |
Endowment Analysis
| Beg. Balance | $101,419,351 |
| Earnings | $4,124,100 |
| Admin Expense | $964,136 |
| Net Contributions | $383,900 |
| Other Expense | $3,546,020 |
| Ending Balance | $101,417,195 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
Seminole County Coalition For School Readiness Inc Longwood, FL | $3,997,009 | $35,020,709 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Florida Atlantic University Foundation Inc Boca Raton, FL | $393,420,422 | $44,215,838 |
St Petersburg College Foundation Inc Saint Petersburg, FL | $84,259,588 | $9,116,029 |
Florida Gulf Coast University Foundation Inc Fort Myers, FL | $164,718,359 | $25,895,312 |