Florida Keys Educational Foundation Inc
- Assets
- $7.5m
- Revenue
- $958.1k
- Investments
- $549.0
- Employees
- 0
- Location
- Key West, FL
- Founding
- 07/1966
- Data as of
- 03/2022
- EIN
- 59-6173174
Organization Overview
Florida Keys Educational Foundation Inc, operating under the name Cfk Foundation, is located in Key West, 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. Cfk 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 03/2022, Cfk Foundation generated $958.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.4m during the year ending 03/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL AND OTHER SUPPORT TO FURTHER THE MISSION AND GOALS OF THE COLLEGE OF THE FLORIDA KEYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLORIDA KEYS EDUCATIONAL FOUNDATION ASSISTS IN THE ACHIEVEMENT OF THE CFK'S MISSION BY SOLICITING, ADMINISTERING, AND OPTIMIZING THROUGH MATCHING PROGRAMS THE PRIVATE GIFTS, BEQUESTS, AND DONATIONS TO SUPPORT CFK'S STUDENTS AND TO ENHANCE TEACHING AND LEARNING AT THE CFK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lana Gaspari Sielski Vice Chair | OfficerTrustee | 0.13 | $0 |
Bruce Halle Treasurer | OfficerTrustee | 0.13 | $0 |
Conner Boyd Secretary | OfficerTrustee | 0.13 | $0 |
Robert Stokey Vice Chair/chair As Of 7/12/2021 | OfficerTrustee | 0.11 | $0 |
Annette Robertson Chair (until 7/12/2021) | OfficerTrustee | 0.07 | $0 |
Frank Wood Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $108,564 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $611,717 |
| Noncash contributions included in lines 1a–1f | $33,325 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $720,281 |
| Total Program Service Revenue | $0 |
| Investment income | $237,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,350 |
| Net Income from Fundraising Events | -$4,728 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $958,072 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $967,617 |
| Grants and other assistance to domestic individuals. | $282,708 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,524 |
| Fees for services: Lobbying | $33,833 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,711 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $12,667 |
| Information technology | $15,099 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $2,720 |
| Insurance | $860 |
| All other expenses | $59 |
| Total functional expenses | $1,384,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $585,413 |
| Pledges and grants receivable | $203,120 |
| Accounts receivable, net | $0 |
| 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 | $40,000 |
| Net Land, buildings, and equipment | $69,339 |
| Investments—publicly traded securities | $6,645,858 |
| Investments—other securities | $549 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,544,279 |
| Accounts payable and accrued expenses | $13,650 |
| 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 | $18,809 |
| Total liabilities | $32,459 |
| Net assets without donor restrictions | $1,145,223 |
| Net assets with donor restrictions | $6,366,597 |
| 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 | $7,544,279 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Florida Keys Educational Foundation Inc has recieved totaling $185,005.
| Awarding Organization | Amount |
|---|---|
William E Seale Family Foundation Annapolis, MD PURPOSE: SUPPORT 501(C)(3) ORGANIZATION. | $150,000 |
Florida College System Foundation Inc Tallahassee, FL PURPOSE: VARIOUS AWARDS | $20,005 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $7,500 |
Lyford Cay Foundation Inc Greenwich, CT PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $7,500 |
Endowment Analysis
| Beg. Balance | $5,089,362 |
| Earnings | $331,664 |
| Admin Expense | $35,642 |
| Net Contributions | $92,933 |
| Other Expense | $103,800 |
| Ending Balance | $5,374,517 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
Oxbridge Academy Foundation Inc West Palm Beach, FL | $65,288,192 | $19,905,008 |
University Of West Florida Foundation Inc Pensacola, FL | $164,565,433 | $23,515,652 |
Gator Boosters Inc Gainesville, FL | $35,445,358 | $17,089,938 |
The University Of North Florida Foundation Inc Jacksonville, FL | $189,463,504 | $37,925,600 |
Usf Health Professions Conferencing Corporation Tampa, FL | $17,834,474 | $17,025,476 |
Florida Agricultural & Mechanical Univ Foundation Inc Tallahassee, FL | $165,576,820 | $45,594,915 |
Jessie Ball Dupont Religious Charitable & Educational Fund Jacksonville, FL | $0 | $23,306,581 |
Avant Garde Academy Foundation Inc Hollywood, FL | $46,079,616 | $17,259,977 |
Florida State University Research Foundation Inc Tallahassee, FL | $238,210,385 | $28,107,542 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
Fsu Financial Assistance Inc Tallahassee, FL | $147,384,832 | $12,995,500 |