North Florida College Foundation Inc
- Assets
- $5.8m
- Revenue
- $211.2k
- Investments
- $4.4m
- Employees
- 0
- Location
- Madison, FL
- Founding
- 03/1967
- Data as of
- 03/2021
- EIN
- 59-6179948
Organization Overview
North Florida College Foundation Inc is located in Madison, FL. The organization was established in 1967. 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. North Florida 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 03/2021, North Florida College Foundation Inc generated $211.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $355.7k during the year ending 03/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NORTH FLORIDA COLLEGE FOUNDATION IS TO IDENTIFY, ACQUIRE AND MANAGE ASSETS WITH THE UTMOST SINCERITY, HONESTY, INTEGRITY, COMPETENCE, AND TRANSPARENCY AND TO NURTURE AND ASSIST STUDENTS IN REACHING THEIR GLOBAL, EDUCATIONAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED SCHOLARSHIPS AND ASSISTANCE TO STUDENTS DURING THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Grosskopf President | Officer | 1 | $0 |
Mark Wiggins Chair | Officer | 1 | $0 |
Julius Hackett Vice Chair | Officer | 1 | $0 |
Judith Lundell Executive Director | Officer | 1 | $0 |
Janegale Boyd Director | Trustee | 1 | $0 |
Myra Brock Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $122,908 |
| Investment income | $88,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $211,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $214,017 |
| 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 | $19,081 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,500 |
| Office expenses | $4,296 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $768 |
| All other expenses | $0 |
| Total functional expenses | $355,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $806,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,304 |
| 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 | $0 |
| Investments—other securities | $4,436,909 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $559,986 |
| Total assets | $5,811,499 |
| Accounts payable and accrued expenses | $0 |
| 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 | $65,615 |
| Total liabilities | $65,615 |
| 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 | $5,745,884 |
Grants Awarded
Over the last fiscal year, North Florida College Foundation Inc has awarded $338,895 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Live Oak, FL PURPOSE: TRANSFER OF FLORIDA PREPAID 'TAKE STOCK IN CHILDREN' TUITION PLAN | $162,830 |
Madison, FL PURPOSE: TRANSFER OF FLORIDA PREPAID 'TAKE STOCK IN CHILDREN' TUITION PLAN | $161,449 |
NORTH FLORIDA COLLEGE PURPOSE: ACADEMIC FINANCIAL ASSISTANCE | $14,616 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that North Florida College Foundation Inc has recieved totaling $122,905.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: SCHOLARSHIP SUPPORT | $100,000 |
Florida College System Foundation Inc Tallahassee, FL PURPOSE: VARIOUS AWARDS | $22,887 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Endowment Analysis
| Beg. Balance | $4,069,519 |
| Earnings | $192,231 |
| Net Contributions | $141,756 |
| Grants | $146,189 |
| Ending Balance | $4,257,317 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
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 |