Florida Southwestern State College Foundation Inc
- Assets
- $52.0m
- Revenue
- $7.1m
- Investments
- $49.7m
- Employees
- 0
- Location
- Fort Myers, FL
- Founding
- 02/1996
- Data as of
- 03/2022
- EIN
- 59-6173638
Organization Overview
Florida Southwestern State College Foundation Inc is located in Fort Myers, FL. The organization was established in 1996. 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. Florida Southwestern State 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 03/2022, Florida Southwestern State College Foundation Inc generated $7.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $4.3m during the year ending 03/2022. While expenses have increased by 3.5% 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.
Since 2016, Florida Southwestern State College Foundation Inc has awarded 42 individual grants totaling $38,807,376. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FSW FOUNDATION IS TO SUPPORT THE STRATEGIC PRIORITIES OF FLORIDA SOUTHWESTERN STATE COLLEGE BY PROVIDING ADDITIONAL FUNDING AND RESOURCES.
Describe the Organization's Program Activity:
PROVIDED ALMOST $2 MILLION IN SCHOLARSHIP SUPPORT TO STUDENTS OF FLORIDA SOUTHWESTERN STATE COLLEGE. PROVIDED PROGRAM SUPPORT FUNDING OF ALMOST $1.25 MILLION TO SUPPORT A WIDE RANGE OF FSW COLLEGES PROGRAMS, ATHLETICS AND PRIORITIES. OVER 20,000 STUDENTS, FACULTY AND STAFF WERE POSITIVELY IMPACTED. THE FOUNDATION CONTINUED TO CULTIVATE THE COMMUNITY RESULTING IN ABOUT 150 NEW DONORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Allbritten Directorcollege President | Trustee | 1 | $0 |
Kevin Anderson Chief Operating Officer | Officer | 40 | $0 |
M Susan Desantis Sr Director Of Development | 40 | $0 | |
Sara Mayo Controller | Officer | 40 | $0 |
Geraldine Gallagher Executive Director | Officer | 40 | $0 |
William Banfield Board Of Trustee Repdirector | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,461,393 |
| Investment income | $2,288,222 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,179,869 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,097,910 |
| Statement of Expenses | |
|---|---|
| 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. | $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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,567 |
| Information technology | $12,467 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,164 |
| 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 | $15,861 |
| All other expenses | $0 |
| Total functional expenses | $4,251,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,363 |
| Savings and temporary cash investments | $1,333,712 |
| Pledges and grants receivable | $921,554 |
| 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 | $32,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $49,681,625 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,492 |
| Total assets | $52,034,675 |
| Accounts payable and accrued expenses | $153,476 |
| Grants payable | $0 |
| Deferred revenue | $68,250 |
| 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 | $2,487 |
| Total liabilities | $224,213 |
| Net assets without donor restrictions | $6,438,884 |
| Net assets with donor restrictions | $45,371,578 |
| 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 | $51,810,462 |
Grants Awarded
Over the last fiscal year, Florida Southwestern State College Foundation Inc has awarded $1,471,192 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA SOUTHWESTERN STATE COLLEGE PURPOSE: Faculty | $90,951 |
FLORIDA SOUTHWESTERN STATE COLLEGE PURPOSE: Scholarship | $1,225,240 |
FLORIDA SOUTHWESTERN STATE COLLEGE PURPOSE: Academic | $117,855 |
SOUTHWEST FL CHILDRENS CHARITIES PURPOSE: Event support | $37,146 |