Miami Dade College Foundation Inc
- Assets
- $270.9m
- Revenue
- $53.8m
- Investments
- $72.1m
- Employees
- 0
- Location
- Miami, FL
- Founding
- 04/1966
- Data as of
- 03/2024
- 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 03/2024, Miami Dade College Foundation Inc generated $53.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $40.5m during the year ending 03/2024. While expenses have increased by 13.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
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:
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 DONOR FUNDED FACILITY PROJECTS, 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 |
|---|---|---|---|
Madeline Pumariega Miami Dade College President | OfficerTrustee | 2 | $0 |
Dr Malou Harrison Executive VP & Provost | Trustee | 2 | $0 |
Nelson Hincapie CEO | Officer | 40 | $248,872 |
Marta J Mitzenmacher Chief Financial Officer | Officer | 40 | $169,713 |
Ana Martinez Director | 40 | $143,377 | |
Ivonne Hernandez Controller | 40 | $138,241 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lc Solutions Inc Lighting Services | 3/30/24 | $151,150 |
Miami Dade Department Of Transpor Transportation | 3/30/24 | $202,701 |
Local Projects Design | 3/30/24 | $955,049 |
Met Ii Hotel Llc Lodging | 3/30/24 | $162,863 |
Agave Plaza Hotel Activities & Event | 3/30/24 | $168,104 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,006 |
| Fundraising events | $730,218 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,698,141 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,443,365 |
| Total Program Service Revenue | $572,769 |
| Investment income | $4,166,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,592,010 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,791,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,825,688 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $943,593 |
| Compensation of current officers, directors, key employees. | $283,078 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,300,127 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,017 |
| Fees for services: Accounting | $554,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $909,425 |
| Fees for services: Other | $1,514,181 |
| Advertising and promotion | $421,995 |
| Office expenses | $293,946 |
| Information technology | $206,739 |
| Royalties | $0 |
| Occupancy | $132,342 |
| Travel | $511,424 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $40,480,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,597,437 |
| Pledges and grants receivable | $19,116,958 |
| Accounts receivable, net | $484,921 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $159,121,003 |
| Investments—other securities | $72,132,244 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $491,934 |
| Total assets | $270,944,497 |
| Accounts payable and accrued expenses | $747,370 |
| 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 | $16,059,301 |
| Total liabilities | $16,806,671 |
| Net assets without donor restrictions | $60,358,687 |
| Net assets with donor restrictions | $193,779,139 |
| 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 | $270,944,497 |