Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $428,558

• 1d · Related organizations

  $7,852,742

• 1e · Government grants (contributions)

  $1,823,884

• 1f · All other contributions, gifts and grants

  $48,435,782

• 1g · Noncash contributions included above

  $4,238,633

• 2a · Program service revenue: REGISTRATION/ADMIN

  total $686,906 · related or exempt $686,906

• 2b · Program service revenue: SPONSORSHIPS

  total $83,976 · related or exempt $83,976

• 3 · Investment income

  total $10,548,334 · unrelated business -$616,969 · excluded $11,165,303

• 5 · Royalties

  total $77,128 · excluded $77,128

• 7a · Gross sales of assets other than inventory

  securities $440,434,425

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

  securities $414,731,241

• 7c · Gain or loss

  securities $25,703,184

• 7d · Net gain or loss

  total $25,703,184 · unrelated business $69,392 · excluded $25,633,792

• 8a · Fundraising events: gross income

  $72,573

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

  $428,558

• 8b · Fundraising events: direct expenses

  $174,932

• 8c · Net income from fundraising events

  total -$102,359 · unrelated business $190 · excluded -$102,549

• 11a · Other revenue: MISCELLANEOUS

  total $500,550 · related or exempt $496,415 · unrelated business $4,135

• 11e · Other revenue, total

  $500,550

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $26,774,443 · program services $26,774,443

• 5 · Compensation of officers, directors and key employees

  total $740,641 · program services $30,000 · management and general $246,817 · fundraising $463,824

• 7 · Other salaries and wages

  total $8,338,305 · management and general $3,055,185 · fundraising $5,283,120

• 8 · Pension plan contributions

  total $856,995 · management and general $334,120 · fundraising $522,875

• 9 · Other employee benefits

  total $1,360,470 · management and general $503,007 · fundraising $857,463

• 10 · Payroll taxes

  total $643,820 · management and general $230,441 · fundraising $413,379

• 11b · Fees: legal

  total $32,572 · program services $12,542 · management and general $20,030

• 11c · Fees: accounting

  total $261,366 · program services $43,000 · management and general $218,366

• 11d · Fees: lobbying

  total $122,886 · program services $122,886

• 11e · Fees: professional fundraising services

  total $403,311 · fundraising $403,311

• 11f · Fees: investment management

  total $14,617,913 · management and general $14,617,913

• 11g · Fees: other

  total $4,267,541 · program services $3,629,995 · management and general $20,980 · fundraising $616,566

• 12 · Advertising and promotion

  total $1,569,597 · program services $1,478,229 · management and general $10,979 · fundraising $80,389

• 13 · Office expenses

  total $3,571,542 · program services $2,815,944 · management and general $215,108 · fundraising $540,490

• 14 · Information technology

  total $326,005 · program services $111,667 · management and general $208,150 · fundraising $6,188

• 15 · Royalties

  total $436,613 · program services $436,264 · fundraising $349

• 16 · Occupancy

  total $1,128,198 · program services $828,414 · management and general $267,349 · fundraising $32,435

• 17 · Travel

  total $2,800,716 · program services $2,535,126 · management and general $17,657 · fundraising $247,933

• 19 · Conferences, conventions and meetings

  total $550,249 · program services $508,549 · management and general $9,362 · fundraising $32,338

• 20 · Interest

  total $4,216 · management and general $2,192 · fundraising $2,024

• 22 · Depreciation, depletion and amortization

  total $344,197 · management and general $228,984 · fundraising $115,213

• 23 · Insurance

  total $226,435 · program services $86,930 · management and general $136,274 · fundraising $3,231

• 24a · Other expenses: CAMPUS AND DONAR ENGAGE

  total $3,909,759 · program services $3,464,019 · management and general $6,699 · fundraising $439,041

• 24b · Other expenses: BOOKS, JOURNALS & SUBSC

  total $806,012 · program services $414,532 · management and general $148,605 · fundraising $242,875

• 24c · Other expenses: MEMBERSHIP DUES AND FEE

  total $524,051 · program services $499,828 · management and general $10,401 · fundraising $13,822

• 24e · All other expenses

  total $1,568,156 · program services $387,930 · management and general $1,048,487 · fundraising $131,739

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,874,325 · end of year $15,180,288

• 2 · Savings and temporary cash investments

  beginning of year $58,544,320 · end of year $60,818,585

• 3 · Pledges and grants receivable

  beginning of year $53,483,138 · end of year $51,386,749

• 4 · Accounts receivable

  beginning of year $41,588 · end of year $51,411

• 9 · Prepaid expenses and deferred charges

  beginning of year $237,445 · end of year $248,783

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

  $8,617,870

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

  $3,289,689

• 10c · Land, buildings and equipment, net

  beginning of year $5,238,616 · end of year $5,328,181

• 12 · Investments: other securities

  beginning of year $773,148,233 · end of year $826,011,175

• 15 · Other assets

  beginning of year $41,350,886 · end of year $37,413,301

• 17 · Accounts payable and accrued expenses

  beginning of year $133,453 · end of year $127,460

• 19 · Deferred revenue

  beginning of year $1,350,217 · end of year $1,336,883

• 23 · Secured mortgages and notes payable

  beginning of year $2,650,103 · end of year $2,388,520

• 25 · Other liabilities

  beginning of year $17,635,984 · end of year $19,188,419

• 29 · Capital stock, trust principal or current funds

  beginning of year $240,346,318 · end of year $252,727,696

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $2,588,513 · end of year $2,991,436

• 31 · Retained earnings, endowment or other funds

  beginning of year $676,213,963 · end of year $717,678,059

The filer's explanations (Part III)

PART I, LINE 1A

CHARTER AIRLINE TRAVEL IS PROVIDED FOR THE UNIVERSITY PRESIDENT AND OTHER SENIOR UNIVERSITY AND FOUNDATION STAFF TO BE ABLE TO TRAVEL WITH THE PRESIDENT OF THE UNIVERSITY ON ADMINISTRATIVE AND FUNDRAISING ACTIVITIES FOR FSU WHERE COMMERCIAL FLIGHTS ARE NOT AVAILABLE. THIS WAS NONTAXABLE TO THE UNIVERSITY PRESIDENT AS WELL AS OTHER SENIOR UNIVERSITY AND FOUNDATION STAFF. THE FOUNDATION PAYS TRAVEL EXPENSES FOR THE UNIVERSITY PRESIDENT'S SPOUSE WHO HAS A COURTESY APPOINTMENT WITH FSU AND ACTS AS AN OFFICIAL AMBASSADOR OF THE UNIVERSITY. THIS WAS NONTAXABLE TO THE UNIVERSITY PRESIDENT. THE UNIVERSITY'S EMPLOYMENT CONTRACT WITH THE VP FOR UNIVERSITY ADVANCEMENT/FOUNDATION PRESIDENT STIPULATES THAT THE FOUNDATION SHALL PAY THE TRAVEL EXPENSES FOR THE FOUNDATION PRESIDENT'S PARTNER, TO ACCOMPANY THE FOUNDATION PRESIDENT ON BUSINESS TRIPS. THIS WAS NONTAXABLE TO THE FOUNDATION PRESIDENT.

PART I, LINE 3

COMPENSATION FOR THE FOUNDATION PRESIDENT IS REVIEWED AND SET BY THE PRESIDENT OF FLORIDA STATE UNIVERSITY, OR DESIGNEE, IN ACCORDANCE WITH THE UNIVERSITY'S POLICIES. THESE POLICIES REQUIRE THAT COMPARABLE DATA BE USED TO DETERMINE THAT MANAGEMENT IS COMPENSATED FAIRLY AND COMPETITIVELY WHEN COMPARED TO SIMILAR ROLES IN OTHER FOUNDATIONS NATIONALLY.

PART I, LINE 4A

THE FORMER INTERIM VP OF UNIVERSITY ADVANCEMENT AND EXECUTIVE VP, ANDY A. JHANJI, RECEIVED A SEVERANCE PAYMENT OF $125,420.

SCHEDULE J, PART II

EFFECTIVE DECEMBER 14, 2018, ALL EMPLOYEES OF THE FSU FOUNDATION TRANSITIONED TO EMPLOYEES OF FLORIDA STATE UNIVERSITY, A RELATED ORGANIZATION. DURING THE CALENDAR YEAR ENDED 2022, THE FOLLOWING LISTED PERSONS FROM 990 PT. VII WERE EMPLOYEES OF FLORIDA STATE UNIVERSITY, A RELATED ORGANIZATION. EMPLOYEE TITLE RICHARD MCCULLOUGH TRUSTEE/EX OFFICIO V, FSU PRESIDENT MICHAEL D. HARTLINE (PARTIAL YEAR) TRUSTEE/EX OFFICIO V, INTERIM FOUNDATION PRESIDENT & INTERIM EXECUTIVE VICE PRESIDENT, FSU FOUNDATION ANDY A. JHANJI FORMER INTERIM VP OF UNIVERSITY ADVANCEMENT AND EXECUTIVE VP MICHAEL T. QUEEN TRUSTEE/VOTING EX OFFICIO TRUSTEE, PROVOST-APPOINTED DEAN ERIC K. CHICKEN (PARTIAL YEAR) TRUSTEE/EX OFFICIO V, FACULTY SENATE PRESIDENT JEFFREY T. BAUER DIRECTOR, INFORMATION SERVICE JAMES A. MCNEILL SR DIRECTOR OF DEVELOPMENT, COLLEGE OF MEDICINE STEVEN M. TERMAN SR DIRECTOR OF DEVELOPMENT, FSU/RINGLING NANCY B. SMILOWITZ SR DIRECTOR OF DEVELOPMENT, COLLEGE OF ARTS AND SCIENCES PAMELA SPENCER VICE PRESIDENT OF ADVANCEMENT SERVICES THOMAS W. BLOCK (PARTIAL YEAR) VP ADV. RELATIONS/ASST SECRETARY JOHN F. CARRIGAN CFO/ASSISTANT TREASURER MARLA A. VICKERS TRUSTEE/EX OFFICIO V, VP FOR UNIVERSITY ADVANCEMENT & PRESIDENT, FSU FOUNDATION CAROLINE L. POOLE ASSISTANT VP OF ADV., STRATEGIC INITIATIVES/ACTING ASSISTANT SECRETARY BRIDGETT Y. BIRMINGHAM TRUSTEE/EX OFFICIO V, FACULTY SENATE PRESIDENT NANCY MCKAY TRUSTEE/IMMEDIATE PAST CHAIR ROBERT E. RICE TRUSTEE URIELLE LAURENT TRUSTEE/EX OFFICIO V, CHAIR, STUDENT FOUNDATION COMPENSATION FROM FLORIDA STATE UNIVERSITY IS REPORTED ON 990 PT. VII, SECTION A, AND ON SCHEDULE J PT. II. COMPENSATION FROM FLORIDA STATE UNIVERSITY FOR RICHARD MCCULLOUGH, MICHAEL D. HARTLINE, MICHAEL T. QUEEN, ERIC K. CHICKEN, BRIDGETT Y. BIRMINGHAM, NANCY MCKAY, ROBERT E. RICE, AND URIELLE LAURENT IS FOR THEIR RESPONSIBILITIES AS EMPLOYEES OF THE UNIVERSITY, A RELATED ORGANIZATION, AND NOT FOR THEIR ROLE AS TRUSTEES OF THE FSU FOUNDATION. DURING THE FISCAL YEAR, BOARD MEMBER MICHAEL D. HARTLINE, SERVED AS INTERIM VICE PRESIDENT OF UNIVERSITY ADVANCEMENT AND PRESIDENT OF THE FLORIDA STATE UNIVERSITY FOUNDATION AS OF 04/23/22 THRU 09/30/22. HE ALSO SERVED AS INTERIM EXECUTIVE VICE PRESIDENT OF THE FLORIDA STATE UNIVERSITY FOUNDATION AS OF 10/01/22 THRU 12/31/22. IN THESE ROLES, HE OVERSAW THE ACTIVITIES OF THREE DIRECT SUPPORT ORGANIZATIONS OF THE UNIVERSITY, INCLUDING THE ACTIVITIES OF THE FSU FOUNDATION. THE OTHER TWO DIRECT SUPPORT ORGANIZATIONS ARE RELATED ORGANIZATIONS OF THE FSU FOUNDATION.