Form 990 for tax year 2024
Filed by FLORIDA AGRICULTURAL & MECHANICAL UNIV FOUNDATION INC.
Totals
- Total revenue
- $29,299,750
- Total expenses
- $24,780,902
- Contributions and grants received
- $16,039,894
- Grants paid
- $7,887,126
- Program service revenue
- $0
- Investment income
- $8,977,234
- Other revenue
- $4,282,622
- Total assets, end of year
- $226,274,503
- Total liabilities, end of year
- $4,177,501
- Net assets or fund balances, end of year
- $222,097,002
- Program services expenses (Part IX)
- $18,735,900
- Management and general expenses
- $4,317,146
- Fundraising expenses
- $1,727,856
- Program service expenses (Part III)
- $18,735,900
Program services were 75.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Listed in Part VII
-
Donald Palm
Executive Dir.
- Total calculated
- $328,013
- From this org
- $0
- From related orgs
- $302,598
- Other
- $25,415
- Hours/week
- 1 + 50 related
Schedule J breakdown matched by us
- Base
- not reported + $302,598 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $25,415 related
- Filer's total
- not reported + $328,013 related
-
Timothy Beard
Int. Univ. Pres
- Total calculated
- $167,616
- From this org
- $0
- From related orgs
- $158,277
- Other
- $9,339
- Hours/week
- 1 + 50 related
Schedule J breakdown matched by us
- Base
- not reported + $158,277 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $9,339 related
- Filer's total
- not reported + $167,616 related
-
Latosha Adams-Francis
Dir. Finance Svcs.
- Total calculated
- $140,273
- From this org
- $0
- From related orgs
- $118,117
- Other
- $22,156
- Hours/week
- 1 + 50 related
-
Kenneth M Neighbors
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Tirrell D Whittley
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Tuwanna Munroe Ward
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Chan Bryant Abney
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Wilbert Anthony Neal
Executive Dir.
- Total calculated
- $0
- Hours/week
- 1 + 50 related
-
Curtis E Johnson Jr
NAA Rep.
- Total calculated
- $0
- Hours/week
- 1
-
Carmen Cummings Martin
OAA Exec. Dir.
- Total calculated
- $0
- Hours/week
- 5 + 45 related
-
Angela C Adderly
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elaine Armster
Director
- Total calculated
- $0
- Hours/week
- 1
-
Terry D Arnold
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rebecca Brown
Director
- Total calculated
- $0
- Hours/week
- 1
-
Gregory L Clark
Director
- Total calculated
- $0
- Hours/week
- 1
-
Hosetta Coleman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey K Francis
Director
- Total calculated
- $0
- Hours/week
- 1
-
Marcelia C Freeman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jemal O Gibson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Clifton A Goins IV
Director
- Total calculated
- $0
- Hours/week
- 1
-
John L Green
Director
- Total calculated
- $0
- Hours/week
- 1
-
Erica D Hill
Director
- Total calculated
- $0
- Hours/week
- 1
-
Monica William Harris
Director
- Total calculated
- $0
- Hours/week
- 1
-
Billy B Greer IV
Director
- Total calculated
- $0
- Hours/week
- 1
-
Laurence A Humphries
Director
- Total calculated
- $0
- Hours/week
- 1
-
Chekesha C Kidd
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lenetra S King
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lisa R LaBoo
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ebenezer T Oriaku
Director
- Total calculated
- $0
- Hours/week
- 1
-
Freddie Raines
Director
- Total calculated
- $0
- Hours/week
- 1
-
TJ Rose
Director
- Total calculated
- $0
- Hours/week
- 1
-
G Scott Uzzell
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kyla J Mays
Director
- Total calculated
- $0
- Hours/week
- 1
-
W Cecyl Hobbs
Director
- Total calculated
- $0
- Hours/week
- 1
-
John Crossman
BOT Rep.
- 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
- 1a · Travel for companions
- 1a · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1a · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
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
The filer's explanations (Part III)
- Part I, Line 1a: Relevant information in regards to selections on 1a.
- The Foundation provides the President a housing allowance which is included as taxable compensation and is authorized in the President's employment contract. The Foundation paid for social club dues and initiation fees specifically for fundraising purposes for the President. The University President's contract authorizes the Foundation to provide the President with club memberships for bona fide business related purposes (e.g. fundraising events, etc.) to further enable him to carry out his duties as President. The Foundation paid for reasonable travel expenses for the President's spouse when accompanying him on University-related business, serving a bona fide business purpose, up to a maximum of $5,000 annually which is authorized by the University President's contract.
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
-
$7,887,126
AID IN THE ADVANCEMENT OF THE UNIV
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.
-
501(c)(3) · Degree granting institution · FL
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 January 2026
- IRS schema version
- 2024v5.2
- Source object
- 202640169349300309
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