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Nonprofiteer
← NEW COLLEGE FOUNDATION INCORPORATED

Form 990 for tax year 2023

Filed by NEW COLLEGE FOUNDATION INCORPORATED.

Totals

Total revenue
$2,007,354
Total expenses
$4,961,286
Contributions and grants received
$2,206,573
Grants paid
$3,040,611
Program service revenue
$42,000
Investment income
-$261,406
Other revenue
$20,187
Total assets, end of year
$50,064,126
Total liabilities, end of year
$1,076,838
Net assets or fund balances, end of year
$48,987,288
Program services expenses (Part IX)
$3,468,345
Management and general expenses
$978,912
Fundraising expenses
$514,029
Program service expenses (Part III)
$3,468,345

Program services were 69.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $324,394

  • 1f · All other contributions, gifts and grants

    $1,882,179

  • 2a · Program service revenue: RENTAL INCOME

    total $42,000 · related or exempt $42,000

  • 3 · Investment income

    total $867,707 · excluded $867,707

  • 6a · Gross rents

    real property $48,600

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $48,600

  • 6d · Net rental income or loss

    total $48,600 · excluded $48,600

  • 7a · Gross sales of assets other than inventory

    securities $2,262,088

  • 7b · Less cost or other basis and sales expenses

    securities $3,391,201

  • 7c · Gain or loss

    securities -$1,129,113

  • 7d · Net gain or loss

    total -$1,129,113 · excluded -$1,129,113

  • 8a · Fundraising events: gross income

    $169,717

  • 8a · Fundraising events: contributions included on line 1c

    $324,394

  • 8b · Fundraising events: direct expenses

    $214,135

  • 8c · Net income from fundraising events

    total -$44,418 · excluded -$44,418

  • 11a · Other revenue: OTHER INCOME

    total $16,005 · excluded $16,005

  • 11e · Other revenue, total

    $16,005

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,606,657 · program services $2,606,657

  • 2 · Grants to domestic individuals

    total $433,954 · program services $433,954

  • 5 · Compensation of officers, directors and key employees

    total $278,350 · program services $112,269 · management and general $113,279 · fundraising $52,802

  • 7 · Other salaries and wages

    total $193,957 · program services $124,622 · management and general $69,335

  • 11c · Fees: accounting

    total $38,000 · management and general $38,000

  • 11f · Fees: investment management

    total $302,263 · management and general $302,263

  • 11g · Fees: other

    total $332,453 · management and general $208,698 · fundraising $123,755

  • 12 · Advertising and promotion

    total $172,262 · program services $157,880 · management and general $14,382

  • 13 · Office expenses

    total $73,978 · program services $1,882 · management and general $72,096

  • 14 · Information technology

    total $81,897 · management and general $49,792 · fundraising $32,105

  • 16 · Occupancy

    total $29,682 · program services $13,981 · management and general $15,701

  • 17 · Travel

    total $3,536 · program services $3,531 · management and general $5

  • 19 · Conferences, conventions and meetings

    total $3,608 · program services $3,608

  • 20 · Interest

    total $14,527 · management and general $14,527

  • 22 · Depreciation, depletion and amortization

    total $59,875 · management and general $59,875

  • 23 · Insurance

    total $12,610 · management and general $12,610

  • 24a · Other expenses: PLEDGE WRITE OFFS

    total $304,427 · fundraising $304,427

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $11,695 · program services $5,458 · management and general $5,661 · fundraising $576

  • 24c · Other expenses: CATERING

    total $5,081 · program services $4,503 · management and general $578

  • 24d · Other expenses: BOARD OF DIRECTORS

    total $2,474 · management and general $2,110 · fundraising $364

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $966,013 · end of year $1,048,922

  • 2 · Savings and temporary cash investments

    beginning of year $4,651,734 · end of year $3,266,706

  • 3 · Pledges and grants receivable

    beginning of year $427,815 · end of year $81,015

  • 4 · Accounts receivable

    beginning of year $168,484

  • 9 · Prepaid expenses and deferred charges

    beginning of year $66,487 · end of year $84,657

  • 10a · Land, buildings and equipment: cost or other basis

    $2,068,199

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,012,300

  • 10c · Land, buildings and equipment, net

    beginning of year $1,095,943 · end of year $1,055,899

  • 11 · Investments: publicly traded securities

    beginning of year $37,133,220 · end of year $38,601,001

  • 12 · Investments: other securities

    beginning of year $5,297,116 · end of year $5,925,926

  • 17 · Accounts payable and accrued expenses

    beginning of year $648,163 · end of year $190,611

  • 19 · Deferred revenue

    beginning of year $693,092 · end of year $477,336

  • 23 · Secured mortgages and notes payable

    beginning of year $321,259 · end of year $312,960

  • 25 · Other liabilities

    beginning of year $80,085 · end of year $95,931

  • 27 · Net assets without donor restrictions

    beginning of year -$2,103,437 · end of year $1,773,834

  • 28 · Net assets with donor restrictions

    beginning of year $50,167,650 · end of year $47,213,454

Mission and programs · 2023

Mission

THE MISSION OF NEW COLLEGE FOUNDATION IS TO SUPPORT THE PRIORITIES OF NEW COLLEGE OF FLORIDA, FLORIDA'S DESIGNATED HONORS COLLEGE. THIS IS ACCOMPLISHED BY SECURING FUNDS AS A RESULT OF CULTIVATING AND STEWARDING INDIVIDUALS, FOUNDATIONS, AND CORPORATIONS AND THROUGH THE PRUDENT MANAGEMENT OF ASSETS.

Activities or mission (Part I)

TO SUPPORT THE PRIORITIES OF NEW COLLEGE OF FLORIDA BY CULTIVATING AND STEWARDING DONORS AND MANAGING ASSETS.

  • THE NEW COLLEGE FOUNDATION PROVIDES SCHOLARSHIP SUPPORT TO NEW COLLEGE STUDENTS, HELPING THEM TO ATTEND NEW COLLEGE OF FLORIDA. THE FINANCIAL SUPPORT THE STUDENTS RECEIVE ALLOWS THEM TO EXPERIENCE A PERSONALIZED APPROACH TO THEIR EDUCATION AND ENABLES THESE ACADEMICALLY TALENTED STUDENTS TO THRIVE AND REALIZE THEIR FULL POTENTIAL, PREPARING THEM TO ASSUME LEADERSHIP ROLES IN THEIR SCHOLARLY, CIVIC, ARTISTIC, AND COMMERCIAL ENDEAVORS.

    Expenses $433,954 · Grants $433,954

  • NEW COLLEGE FOUNDATION FUNDING IS PROVIDED FOR ACADEMIC CHAIRS, PROFESSORSHIPS AND FACULTY SALARIES, ALLOWING NEW COLLEGE OF FLORIDA TO ATTRACT FACULTY OF THE HIGHEST CALIBER AND REPUTATION. ALL CLASSES ARE TAUGHT BY FACULTY WITH A PH.D. OR EQUIVALENT DEGREE. FOUNDATION FUNDING ALSO SUPPORTS INNOVATIVE FACULTY RESEARCH AND DEVELOPMENT WHICH LIES AT THE HEART OF ACADEMIC LEADERSHIP.

    Expenses $2,061,660 · Grants $2,061,660 · Revenue $42,000

  • NEW COLLEGE FOUNDATION SUPPORTS FACULTY, STAFF AND STUDENTS AT NEW COLLEGE AND WORKS WITH COMMUITY MEMBERS AND GROUPS ON ISSUES WHICH THE ARTS AND HUMANITIES BEAR. TO CONTINUE TO CULTIVATE DONOR RELATIONSHIPS, NEW COLLEGE FOUNDATION ALSO SUPPORTS OTHER NONPROFIT ORGANIZATIONS.

    Expenses $544,997 · Grants $544,997

  • Expenses $427,734

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ADAM KENDALL

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LARRY GEIMER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MONICA VAN BUSKIRK

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ROB BILOTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HAZEL BRADFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAN BURNS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GREG DOUGLAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN MCCARTHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES MCDONALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FERMIN MIRANDA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH MOORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BENJAMIN BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRISTIE FITZ-PATRICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEBRA JENKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR LANCE KARP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SYDNEY GRUTERS

    EXECUTIVE DIRECTOR

    Total calculated
    $184,964
    From this org
    $130,885
    From related orgs
    $0
    Other
    $54,079
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,885
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $54,079
    Filer's total
    $184,964

  • MICHAEL L FOLEY

    DIRECTOR PHILANTHROPY - FORMER

    Total calculated
    $166,915
    From this org
    $108,447
    From related orgs
    $0
    Other
    $58,468
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,447
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $58,468
    Filer's total
    $166,915

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
17 January 2025
IRS schema version
2023v6.0
Source object
202520179349300137

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