Triumph Gulf Coast Inc
- Assets
- $544.2m
- Revenue
- $85.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Tallahassee, FL
- Founding
- 11/2018
- Data as of
- 12/2022
- EIN
- 82-1840264
Organization Overview
Triumph Gulf Coast Inc is located in Tallahassee, FL. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Triumph Gulf Coast 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 12/2022, Triumph Gulf Coast Inc generated $85.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.0%) each year. All expenses for the organization totaled $35.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Triumph Gulf Coast Inc has awarded 61 individual grants totaling $83,057,216. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRIUMPH GULF COAST, INC. IS A NONPROFIT CORPORATION ORGANIZED TO OVERSEE THE EXPENDITURE OF 75 PERCENT OF ALL FUNDS RECOVERED BY THE FLORIDA ATTORNEY GENERAL FOR ECONOMIC DAMAGES TO THE STATE THAT RESULTED FROM THE 2010 DEEPWATER HORIZON OIL SPILL. TRIUMPH GULF COAST, INC., IS REQUIRED TO ADMINISTER THE DISTRIBUTION OF THE FUNDS TO BE USED FOR THE RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE EIGHT NORTHWEST FLORIDA COUNTIES DISPROPORTIONATELY AFFECTED BY THE OIL SPILL. THOSE COUNTIES INCLUDE ESCAMBIA, SANTA ROSA, OKALOOSA, WALTON, BAY, GULF, FRANKLIN AND WAKULLA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRIUMPH GULF COAST, INC., SHALL MAKE AWARDS FROM AVAILABLE FUNDS TO PROJECTS OR PROGRAMS THAT MEET THE PRIORITIES FOR ECONOMIC RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE DISPROPORTIONATELY AFFECTED COUNTIES. TRIUMPH OPENED THE APPLICATION PROCESS FOR THESE FUNDS IN NOVEMBER 2017. THE FIRST GRANTS WERE AWARDED IN 2018. AWARDS MAY BE PROVIDED FOR: (1) AD VALOREM TAX RATE REDUCTION WITHIN DISPROPORTIONATELY AFFECTED COUNTIES; (2) LOCAL MATCH REQUIREMENTS OF FLORIDA S. 288.0655 FOR PROJECTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES; (3) PUBLIC INFRASTRUCTURE PROJECTS FOR CONSTRUCTION, EXPANSION, OR MAINTENANCE WHICH ARE SHOWN TO ENHANCE ECONOMIC RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE DISPROPORTIONATELY AFFECTED COUNTIES; (4) GRANTS TO LOCAL GOVERNMENTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES TO ESTABLISH AND MAINTAIN EQUIPMENT AND TRAINED PERSONNEL FOR LOCAL ACTION PLANS OF RESPONSE TO RESPOND TO DISASTERS; (5) GRANTS TO SUPPORT PROGRAMS THAT PREPARE STUDENTS FOR FUTURE OCCUPATIONS AND CAREERS AT K-20 INSTITUTIONS THAT HAVE CAMPUSES IN DISPROPORTIONATELY AFFECTED COUNTIES. ELIGIBLE PROGRAMS INCLUDE THOSE THAT INCREASE STUDENTS' TECHNOLOGY SKILLS AND KNOWLEDGE; ENCOURAGE INDUSTRY CERTIFICATIONS; PROVIDE RIGOROUS, ALTERNATIVE PATHWAYS FOR STUDENTS TO MEET HIGH SCHOOL GRADUATION REQUIREMENTS; STRENGTHEN CAREER READINESS INITIATIVES; FUND HIGH-DEMAND PROGRAMS OF EMPHASIS AT THE BACHELOR'S AND MASTER'S LEVEL DESIGNATED BY THE BOARD OF GOVERNORS; AND, SIMILAR TO OR THE SAME AS TALENT RETENTION PROGRAMS CREATED BY THE CHANCELLOR OF THE STATE UNIVERSITY SYSTEM AND THE COMMISSION OF EDUCATION, ENCOURAGE STUDENTS WITH INTEREST OR APTITUDE FOR SCIENCE, TECHNOLOGY, ENGINEERING,MATHEMATICS, AND MEDICAL DISCIPLINES TO PURSUE POSTSECONDARY EDUCATION AT A STATE UNIVERSITY OF A FLORIDA COLLEGE SYSTEM INSTITUTION WITHIN THE DISPROPORTIONATELY AFFECTED COUNTIES; (6) GRANTS TO SUPPORT PROGRAMS THAT PROVIDE PARTICIPANTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES WITH TRANSFERABLE, SUSTAINABLE WORKFORCE SKILLS THAT ARE NOT CONFINED TO A SINGLE EMPLOYER; AND (7) GRANTS TO THE TOURISM ENTITY CREATED UNDER FLORIDA S. 288.1226 FOR THE PURPOSE OF ADVERTISING AND PROMOTING TOURISM AND FRESH FROM FLORIDA, AND GRANTS TO PROMOTE WORKFORCE AND INFRASTRUCTURE, ON BEHALF OF ALL OF THE DISPROPORTIONATELY AFFECTED COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David M Bear Chair | OfficerTrustee | 5 | $0 |
J Collier Merrill Vice Chair | OfficerTrustee | 5 | $0 |
Reynolds Henderson Treasurer | OfficerTrustee | 5 | $0 |
Bryan A Corr Sr Board Member | Trustee | 5 | $0 |
David L Humphreys Board Member | Trustee | 5 | $0 |
Jay Trumbull Sr Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tipton Marler Garner & Chastain Accounting Services | 12/30/22 | $170,155 |
Clark Partington Hart Larry Bond And Legal Services | 12/30/22 | $200,000 |
Rick Harper Phd Inc Economic Advisor/consulting Services | 12/30/22 | $115,353 |
Henderson Public Affairs Public Relations | 12/30/22 | $101,691 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $85,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $85,000,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,917,894 |
| 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. | $97,734 |
| Compensation of current officers, directors, key employees. | $19,547 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $200,000 |
| Fees for services: Accounting | $112,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $115,353 |
| Advertising and promotion | $0 |
| Office expenses | $14,378 |
| Information technology | $36,425 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,111 |
| 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 | $22,464 |
| All other expenses | $0 |
| Total functional expenses | $35,783,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,859 |
| Savings and temporary cash investments | $543,796,024 |
| Pledges and grants receivable | $0 |
| 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 | $16,599 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $544,199,482 |
| Accounts payable and accrued expenses | $39,961 |
| 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 | $1,989,233 |
| Total liabilities | $2,029,194 |
| Net assets without donor restrictions | $382,244,115 |
| Net assets with donor restrictions | $159,926,173 |
| 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 | $544,199,482 |
Grants Awarded
Over the last fiscal year, Triumph Gulf Coast Inc has awarded $34,917,893 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
WAKULLA COUNTY SCHOOL BOARD PURPOSE: THE GRANT WILL PROVIDE FUNDING FOR THE WAKULLA COUNTY SCHOOL BOARD'S (WCSB) PROJECT TO CONSTRUCT A BUS GARAGE FOR STUDENT TRANSPORTATION AND TO RENOVATE THE CURRENT BUS GARAGE FOR THE NEW CAREER AND TECHNICAL CENTER (CTE). 2 NEW PROGRAMS WILL INITIALLY BE HOUSED IN THE WAKULLA CTE, IN THE AUTOMOTIVE AND HVAC INDUSTRIES. THESE NEW PROGRAMS WILL BOLSTER THE AVAILABILITY FOR THE WCSB STUDENTS TO RECEIVE INDUSTRY CERTIFICATIONS. | $2,402,728 |
PANAMA CITY PORT AUTHORITY PURPOSE: THE GRANT WILL ASSIST IN PANAMA CITY PORT AUTHORITY'S PROJECT FOR THE FIRST PHASE OF THE EAST TERMINAL DEVELOPMENT WHICH INCLUDES THE CONSTRUCTION OF A 260,000 SQUARE FOOT MODERN FOREST PRODUCTS WAREHOUSE, THE CONSTRUCTION OF A NEW 900-FOOT BULKHEAD WALL TO SUPPORT THE DEEPENING OF THE CHANNEL AND BERTH, IMPROVEMENTS TO THE BERTH APRON, THE CONSTRUCTION OF A 40-CAR RAIL YARD, THE CONSTRUCTION OF INTERNAL ROADS, THE CONSTRUCTION OF OUTSIDE STORAGE AREAS, THE INSTALLATION OF SECURITY FENCES, GATES, OUTDOOR LIGHTING, AND EMPLOYEE PARKING. | $1,292,049 |
NORTHWEST FLORIDA STATE COLLEGE PURPOSE: THE GRANT WILL PROVIDE FUNDING TO ESTABLISH THE WALTON WORKS TRAINING CENTER OF EXCELLENCE TO INCREASE NORTHWEST FLORIDA STATE COLLEGE'S ABILITY TO PROVIDE INDUSTRY-RECOGNIZED CREDENTIALS AND EXPAND PROGRAMS THAT ADDRESS THE UNMET HIRING NEEDS OF EMPLOYERS IN THE REGION. ADDITIONAL FUNDING IS REQUESTED TO CREAT THE AVIATION CENTER OF EXCELLENCE TO ESTABLISH WORKFORCE TRAINING PROGRAMS AT THE CRESTVIEW TECHNOLOGY AIR PARK IN OKALOOSA COUNTY. | $1,385,217 |
GULF COAST STATE COLLEGE PURPOSE: THE GRANT WILL PROVIDE FUNDING TO LEVERAGE OR ENHANCE REGIONAL ASSETS TO PROVIDE TRAINING AND EQUIPMENT NEEDED TO RESPOND TO DISASTERS USING UNMANNED VEHICLES. | $3,196,543 |
GULF DISTRICT SCHOOLS PURPOSE: THE GRANT WILL PROVIDE FUNDING FOR SEVERAL DIFFERENT PROJECTS. ONE PROJECT WOULD ALLOW FOR WORKFORCE TRAINING AND WELDING INSTRUCTION FOR HIGH SCHOOL STUDENTS AT WEWAHITCHKA HIGH SCHOOL. THE UNMANNED SYSTEM PROJECT WOULD IMPLEMENT UNMANNED AIRCRAFT SYSTEMS PROGRAMS AT BOTH AREA HIGH SCHOOLS TO PREPARE STUDENTS FOR EMPLOYMENT AND ADVANCED EDUCATIONAL TRAINING IN AN EMERGING INDUSTRY. THE WELDING PROJECT AT WEWAHITCHKA HIGH SCHOOL WOULD PROVIDE INDUSTRY CERTIFICATION FOR STUDENTS IN THE AREA OF WELDING. | $124,240 |
FSU MARINE LAB PURPOSE: THE GRANT WILL PROVIDE FUNDING FOR THE APALACHICOLA BAY SYSTEM INITIATIVE (ABSI) AND ITS EFFORTS TO OBTAIN SOLUTIONS TO THE ECOSYSTEM DECLINE AND TO DEVELOP THE STRATEGIC AND IMPLEMENTATION PLANS NEEDED FOR MOVING TOWARDS RECOVERY. THE ABSI IS A MULTIDISCIPLINARY EFFORT DESIGNED TO GAIN AN UNDERSTANDING OF THE CURRENT DISTRIBUTION AND PRODUCTIVITY OF OYSTER POPULATIONS THROUGHOUT FRANKLIN COUNTY, THE FORCES ACTING ON ECOSYSTEM HEALTH, AND THE BEST PRACTICES FOR RESTORATION AND RECOVERY THAT WILL IMPROVE OPPORTUNITIES FOR WILD HARVEST AND AQUACULTURE OF OYSTERS AND OTHER ECONOMICALLY IMPORTANT SPECIES. | $397,576 |