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Nonprofiteer
← FLORIDA SOUTHWESTERN STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by FLORIDA SOUTHWESTERN STATE COLLEGE FOUNDATION INC.

Totals

Total revenue
$6,236,165
Total expenses
$3,945,380
Contributions and grants received
$3,552,930
Grants paid
$2,984,516
Program service revenue
$31,100
Investment income
$2,352,260
Other revenue
$299,875
Total assets, end of year
$55,754,167
Total liabilities, end of year
$138,635
Net assets or fund balances, end of year
$55,615,532
Program services expenses (Part IX)
$2,984,516
Management and general expenses
$616,893
Fundraising expenses
$343,971
Program service expenses (Part III)
$2,984,516

Program services were 75.6% 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.

  • 1f · All other contributions, gifts and grants

    $3,552,930

  • 1g · Noncash contributions included above

    $33,523

  • 2a · Program service revenue: Qualified Sponsorships

    total $31,100 · related or exempt $15,454 · unrelated business $15,646

  • 3 · Investment income

    total $1,862,356 · excluded $1,862,356

  • 7a · Gross sales of assets other than inventory

    securities $24,972,344

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

    securities $24,482,440

  • 7c · Gain or loss

    securities $489,904

  • 7d · Net gain or loss

    total $489,904 · related or exempt $489,904

  • 11a · Other revenue: Endowments

    total $299,637 · related or exempt $299,637

  • 11b · Other revenue: Refunds

    total $238 · related or exempt $238

  • 11e · Other revenue, total

    $299,875

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,984,516 · program services $2,984,516

  • 13 · Office expenses

    total $15,116 · management and general $14,058 · fundraising $1,058

  • 14 · Information technology

    total $44,508 · management and general $44,508

  • 17 · Travel

    total $4,471 · management and general $1,656 · fundraising $2,815

  • 23 · Insurance

    total $14,871 · management and general $14,871

  • 24a · Other expenses: Contracted wages

    total $694,321 · management and general $416,594 · fundraising $277,727

  • 24b · Other expenses: Professional fees

    total $84,887 · management and general $81,622 · fundraising $3,265

  • 24c · Other expenses: Contracted Services

    total $15,988 · management and general $7,994 · fundraising $7,994

  • 24d · Other expenses: In kind

    total $21,634 · management and general $21,634

  • 24e · All other expenses

    total $65,068 · management and general $13,956 · fundraising $51,112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,188 · end of year $11,948

  • 2 · Savings and temporary cash investments

    beginning of year $2,478,636 · end of year $4,122,748

  • 3 · Pledges and grants receivable

    beginning of year $1,223,681 · end of year $2,261,007

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,665 · end of year $32,270

  • 12 · Investments: other securities

    beginning of year $46,421,274 · end of year $49,297,115

  • 15 · Other assets

    beginning of year $21,717 · end of year $29,079

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,229 · end of year $128,967

  • 19 · Deferred revenue

    beginning of year $7,500 · end of year $2,500

  • 25 · Other liabilities

    beginning of year $12,312 · end of year $7,168

  • 27 · Net assets without donor restrictions

    beginning of year $7,017,626 · end of year $9,417,867

  • 28 · Net assets with donor restrictions

    beginning of year $43,102,494 · end of year $46,197,665

Mission and programs · 2023

Mission

The mission of the FSW Foundation is to support the strategic priorities of Florida SouthWestern State College by providing additional funding and resources.

  • Provided almost $1.2 million in scholarship support to students of Florida SouthWestern State College. Provided program support funding of almost $900,000 to support a wide range of FSW State Colleges programs, athletics and priorities. Over 19,000 students, faculty and staff were positively impacted. The Foundation continued to cultivate the community resulting in about 100 new donors.

    Expenses $2,984,516 · Grants $2,984,516 · Revenue $6,236,165

As filed on the 2023 return.

Listed in Part VII

  • Jeffrey Allbritten

    College PresEx-Officio Direc

    Total calculated
    $859,112
    From this org
    $0
    From related orgs
    $485,945
    Other
    $373,167
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $341,992 related
    Bonus
    not reported + $94,725 related
    Other
    not reported + $49,228 related
    Deferred
    not reported + $227,815 related
    Nontaxable benefits
    not reported + $145,352 related
    Filer's total
    not reported + $859,112 related

  • Geraldine Gallagher

    Executive Director

    Total calculated
    $269,141
    From this org
    $0
    From related orgs
    $190,344
    Other
    $78,797
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $177,684 related
    Bonus
    not reported + $3,660 related
    Other
    not reported + $9,000 related
    Deferred
    not reported + $64,580 related
    Nontaxable benefits
    not reported + $14,217 related
    Filer's total
    not reported + $269,141 related

  • Sara Mayo

    Chief Financial Officer

    Total calculated
    $138,802
    From this org
    $0
    From related orgs
    $107,574
    Other
    $31,228
    Hours/week
    40

  • Susan Chicone

    DirectorTreasurerSecretary

    Total calculated
    $0
    Hours/week
    1

  • William Banfield

    Board of Trustee RepEx-Offic

    Total calculated
    $0
    Hours/week
    1

  • Troy Churchill

    Director

    Total calculated
    $0
    Hours/week
    1

  • Braxton Rhone

    Director

    Total calculated
    $0
    Hours/week
    1

  • Carl Grissom

    Former Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Kunberger

    Director

    Total calculated
    $0
    Hours/week
    1

  • Eric Loche

    Director

    Total calculated
    $0
    Hours/week
    1

  • Deborah Stewart

    Director

    Total calculated
    $0
    Hours/week
    1

  • Roman Sazonov

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jared Brancazio

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paula Malone

    Director

    Total calculated
    $0
    Hours/week
    1

  • Carey Soud

    Former DirectorTreasurerSec

    Total calculated
    $0
    Hours/week
    1

  • Mary Lee Mann

    Vice ChairDirector

    Total calculated
    $0
    Hours/week
    1

  • John Wright

    DirectorChair

    Total calculated
    $0
    Hours/week
    1

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

None.

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
2 September 2024
IRS schema version
2023v5.1
Source object
202403179349300535

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