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Nonprofiteer
← NEW COLLEGE FOUNDATION INCORPORATED

Form 990 for tax year 2022

Filed by NEW COLLEGE FOUNDATION INCORPORATED.

Totals

Total revenue
$4,698,283
Total expenses
$5,938,762
Contributions and grants received
$2,890,865
Grants paid
$3,301,475
Program service revenue
$0
Investment income
$1,580,915
Other revenue
$226,503
Total assets, end of year
$49,806,812
Total liabilities, end of year
$1,742,599
Net assets or fund balances, end of year
$48,064,213
Program services expenses (Part IX)
$4,473,777
Management and general expenses
$1,070,195
Fundraising expenses
$394,790
Program service expenses (Part III)
$4,473,777

Program services were 75.3% 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

    $243,068

  • 1f · All other contributions, gifts and grants

    $2,647,797

  • 3 · Investment income

    total $538,513 · excluded $538,513

  • 6a · Gross rents

    real property $47,928

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $47,928

  • 6d · Net rental income or loss

    total $47,928 · excluded $47,928

  • 7a · Gross sales of assets other than inventory

    securities $1,151,242

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

    securities $108,840

  • 7c · Gain or loss

    securities $1,042,402

  • 7d · Net gain or loss

    total $1,042,402 · excluded $1,042,402

  • 8a · Fundraising events: gross income

    $276,745

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

    $243,068

  • 8b · Fundraising events: direct expenses

    $126,998

  • 8c · Net income from fundraising events

    total $149,747 · excluded $149,747

  • 11a · Other revenue: OTHER INCOME

    total $28,828 · excluded $28,828

  • 11e · Other revenue, total

    $28,828

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,931,746 · program services $1,931,746

  • 2 · Grants to domestic individuals

    total $1,369,729 · program services $1,369,729

  • 5 · Compensation of officers, directors and key employees

    total $895,450 · program services $597,581 · management and general $235,697 · fundraising $62,172

  • 7 · Other salaries and wages

    total $580,143 · program services $387,108 · management and general $152,766 · fundraising $40,269

  • 11c · Fees: accounting

    total $31,152 · management and general $31,152

  • 11f · Fees: investment management

    total $269,299 · management and general $269,299

  • 11g · Fees: other

    total $194,937 · program services $86,148 · management and general $105,080 · fundraising $3,709

  • 12 · Advertising and promotion

    total $51,485 · program services $43,491 · management and general $5,628 · fundraising $2,366

  • 13 · Office expenses

    total $60,796 · program services $6,956 · management and general $50,479 · fundraising $3,361

  • 14 · Information technology

    total $84,055 · program services $6,600 · management and general $77,455

  • 16 · Occupancy

    total $36,174 · management and general $23,091 · fundraising $13,083

  • 17 · Travel

    total $40,010 · program services $35,412 · management and general $3,328 · fundraising $1,270

  • 19 · Conferences, conventions and meetings

    total $3,796 · program services $3,556 · management and general $240

  • 20 · Interest

    total $14,193 · management and general $14,193

  • 22 · Depreciation, depletion and amortization

    total $56,607 · management and general $56,607

  • 23 · Insurance

    total $24,089 · management and general $24,089

  • 24a · Other expenses: PLEDGE WRITE OFFS

    total $245,496 · fundraising $245,496

  • 24b · Other expenses: CATERING

    total $27,769 · program services $3,683 · management and general $1,582 · fundraising $22,504

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $16,122 · program services $1,767 · management and general $13,950 · fundraising $405

  • 24d · Other expenses: BOARD OF DIRECTORS

    total $5,714 · management and general $5,559 · fundraising $155

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,159,682 · end of year $966,013

  • 2 · Savings and temporary cash investments

    beginning of year $5,433,668 · end of year $4,651,734

  • 3 · Pledges and grants receivable

    beginning of year $576,519 · end of year $427,815

  • 4 · Accounts receivable

    beginning of year $12,112 · end of year $168,484

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,710 · end of year $66,487

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

    $2,058,215

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

    $962,272

  • 10c · Land, buildings and equipment, net

    beginning of year $1,152,550 · end of year $1,095,943

  • 11 · Investments: publicly traded securities

    beginning of year $33,502,757 · end of year $37,133,220

  • 12 · Investments: other securities

    beginning of year $6,103,305 · end of year $5,297,116

  • 17 · Accounts payable and accrued expenses

    beginning of year $743,586 · end of year $648,163

  • 19 · Deferred revenue

    beginning of year $1,106,926 · end of year $693,092

  • 23 · Secured mortgages and notes payable

    beginning of year $329,892 · end of year $321,259

  • 25 · Other liabilities

    beginning of year $320,777 · end of year $80,085

  • 27 · Net assets without donor restrictions

    beginning of year $1,860,089 · end of year -$2,103,437

  • 28 · Net assets with donor restrictions

    beginning of year $43,620,033 · end of year $50,167,650

Mission and programs · 2022

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 $1,302,798 · Grants $1,302,798

  • 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 $1,637,987 · Grants $1,637,987

  • NEW COLLEGE FOUNDATION PROVIDES ACADEMIC PROGRAM FUNDING TO HELP MAINTAIN THE 10-1 STUDENT-TO-FACULTY RATIO WHICH ALLOWS STUDENTS FROM OVER 38 STATES AND 20 COUNTRIES TO DEVELOP A PERSONAL RELATIONSHIP AND WORK ONE-ON-ONE WITH FACULTY TO DESIGN THEIR EDUCATION PROGRAM AND RESEARCH PROJECTS. AS A DIRECT RESULT, NEW COLLEGE OF FLORIDA PRODUCES MORE FULBRIGHT SCHOLARS PER CAPITA THAN HARVARD OR YALE (3 IN 2015 AND 4 IN 2016) AND IS RECOGNIZED NATIONALLY FOR THE NUMBER OF ITS STUDENTS IT SENDS TO THE COUNTRY'S PREMIER LAW, BUSINESS AND MEDICAL SCHOOLS. FOUNDATION FUNDING IS ALSO PROVIDED TO THE JANE COOK BANCROFT LIBRARY, TO COMMUNITY PROGRAMS, SUCH AS NEW TOPICS AND NEW MUSIC, AND TO THE NOVO COLLEGIATE SCHOLARSHIP AND TO INTERNATIONAL PROGRAMS, SUCH AS DAUGHTERS FOR LIFE.

    Expenses $360,690 · Grants $360,690

  • Expenses $1,172,302

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dan Stults

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Adam Kendall

    VICE 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

  • Janene Amick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Burns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Margee Ensign

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Glenn P Hendrix

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sue A Jacobson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debra Jenks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John F Schlegel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Henry Smyth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Spalding

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Winship

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcia Crawley

    DIRECTOR PHILANTHROPY

    Total calculated
    $150,632
    From this org
    $118,213
    From related orgs
    $0
    Other
    $32,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,213
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,419
    Filer's total
    $150,632

  • Michael L Foley

    DIRECTOR PHILANTHROPY

    Total calculated
    $153,913
    From this org
    $112,181
    From related orgs
    $0
    Other
    $41,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,181
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,732
    Filer's total
    $153,913

  • Kevin Hughes

    ASSOCIATE VP ADVANCEMENT

    Total calculated
    $186,671
    From this org
    $141,609
    From related orgs
    $0
    Other
    $45,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,609
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $45,062
    Filer's total
    $186,671

  • Ronald P McDonough

    DIRECTOR OF FINANCE & COMP

    Total calculated
    $137,590
    From this org
    $102,790
    From related orgs
    $0
    Other
    $34,800
    Hours/week
    40

  • Caitlyn Sanderson

    DIRECTOR OF PROSPECT MANAGEMENT

    Total calculated
    $103,115
    From this org
    $73,162
    From related orgs
    $0
    Other
    $29,953
    Hours/week
    40

  • Declan Sheehy

    DIRECTOR PHILANTHROPY

    Total calculated
    $151,559
    From this org
    $111,500
    From related orgs
    $0
    Other
    $40,059
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $40,059
    Filer's total
    $151,559

  • Maryanne Young

    VP OF ADVANCEMENT

    Total calculated
    $305,410
    From this org
    $208,870
    From related orgs
    $0
    Other
    $96,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,870
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $96,540
    Filer's total
    $305,410

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

  • NEW COLLEGE OF FLORIDA

    $166,207

    INCREASING ACCESS TO HIGH-QUALITY POSTSECONDARY EDUCATION AND DIVERSIFYING THE EDUCATED WORKFORCE ARE MATTERS OF LOCAL, REGIONAL, AND NATIONAL URGENCY.

  • NEW COLLEGE OF FLORIDA

    $133,704

    NEW COLLEGE AND THE CROSS-COLLEGE ALLIANCE IN THE COMMUNITY THAT WILL HAVE FACULTY, STAFF, AND STUDENTS AT NEW COLLEGE AND OUR NEIGHBORING COLLEGES IN THE CROSS COLLEGE ALLIANCE (CCA) WORK WITH COMMUNITY MEMBERS AND GROUPS ON ISSUES IDENTIFIED BY THE COMMUNITY ON WHICH THE ARTS AND HUMANITIES BEAR.

  • NEW COLLEGE OF FLORIDA

    $88,293

    SUPPLEMENT ACADEMIC PROGRAMS AND ENHANCEMENT

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.

  • NEW COLLEGE OF FLORIDA

    501(C)(3) · EDUCATION · FL

Provenance

Return type
form_990
Tax year
2022
Filed
26 February 2024
IRS schema version
2022v5.0
Source object
202400659349301410

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