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Nonprofiteer
← POLK STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by POLK STATE COLLEGE FOUNDATION INC.

What the amendment changed

Compared with the return it replaced , filed 15 February 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
-$1,090,071 changed to $6,277,860
Total expenses
$2,096,181 changed to $2,217,862
Contributions and grants received
$3,144,826 changed to $2,887,657
Grants paid
$1,294,198 changed to $1,383,924
Investment income
-$4,234,897 changed to $3,392,376
Other revenue
$0 changed to -$2,173
Total assets, end of year
$40,305,491 changed to $40,005,868
Total liabilities, end of year
$747,436 changed to $815,972
Net assets or fund balances, end of year
$39,558,055 changed to $39,189,896
Program services expenses
$1,497,009 changed to $1,849,477
Management and general expenses
$587,839 changed to $257,005
Fundraising expenses
$11,333 changed to $111,380
Program service expenses (Part III)
$1,497,009 changed to $1,849,477

Listed only on the earlier return

  • Dr Angela Garcia Falconetti
  • Jennifer Kincart Johnson
  • Wendy Ventors

Listed only on the later return

  • Alex Price
  • Angela Falconetti
  • Ann Barnhart
  • Bill Jacobs
  • Jay Burns
  • Jennifer Kincart Jonsson
  • Paul Morin
  • Wendy Venters

Listed under a different title

  • Bo Boyte: DEVELOPMENT CHAIRSECRETARY then DEVELOPMENT CHAIR/SECRETARY
  • Jeff Baldwin: EXECUTIVE DIRECTOR then EXECUTIVE DIRECTOR THRU OCT. 2022

Totals

Total revenue
$6,277,860
Total expenses
$2,217,862
Contributions and grants received
$2,887,657
Grants paid
$1,383,924
Program service revenue
$0
Investment income
$3,392,376
Other revenue
-$2,173
Total assets, end of year
$40,005,868
Total liabilities, end of year
$815,972
Net assets or fund balances, end of year
$39,189,896
Program services expenses (Part IX)
$1,849,477
Management and general expenses
$257,005
Fundraising expenses
$111,380
Program service expenses (Part III)
$1,849,477

Program services were 83.4% 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

    $24,932

  • 1f · All other contributions, gifts and grants

    $2,862,725

  • 1g · Noncash contributions included above

    $57

  • 3 · Investment income

    total $840,154 · excluded $840,154

  • 7a · Gross sales of assets other than inventory

    other assets $18,446,277

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

    other assets $15,894,055

  • 7c · Gain or loss

    other assets $2,552,222

  • 7d · Net gain or loss

    total $2,552,222 · excluded $2,552,222

  • 8a · Fundraising events: gross income

    $36,680

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

    $24,932

  • 8b · Fundraising events: direct expenses

    $50,335

  • 8c · Net income from fundraising events

    total -$13,655 · excluded -$13,655

  • 11a · Other revenue: OTHER INCOME

    total $11,482 · excluded $11,482

  • 11e · Other revenue, total

    $11,482

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,383,924 · program services $1,383,924

  • 11c · Fees: accounting

    total $43,387 · program services $8,833 · management and general $21,632 · fundraising $12,922

  • 11d · Fees: lobbying

    total $110,000 · management and general $110,000

  • 11f · Fees: investment management

    total $89,696 · program services $18,262 · management and general $44,722 · fundraising $26,712

  • 11g · Fees: other

    total $107,302 · program services $21,845 · management and general $53,500 · fundraising $31,957

  • 12 · Advertising and promotion

    total $5,353 · program services $609 · management and general $1,491 · fundraising $3,253

  • 13 · Office expenses

    total $12,279 · program services $2,500 · management and general $6,123 · fundraising $3,656

  • 17 · Travel

    total $10,183 · program services $2,463 · management and general $1,930 · fundraising $5,790

  • 19 · Conferences, conventions and meetings

    total $20,351 · program services $4,364 · management and general $8,366 · fundraising $7,621

  • 24a · Other expenses: COLLEGE PROGRAM EXPENSE

    total $320,544 · program services $320,544

  • 24b · Other expenses: COMMUNITY RELATIONS

    total $37,311 · program services $37,311

  • 24c · Other expenses: EQUIPMENT AND CONSTRUCT

    total $29,527 · program services $12,512 · management and general $1,502 · fundraising $15,513

  • 24d · Other expenses: ALUMNI PROGRAMS

    total $5,947 · program services $1,211 · management and general $2,965 · fundraising $1,771

  • 24e · All other expenses

    total $42,058 · program services $35,099 · management and general $4,774 · fundraising $2,185

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,472,323 · end of year $3,309,707

  • 2 · Savings and temporary cash investments

    beginning of year $66,395 · end of year $66,620

  • 3 · Pledges and grants receivable

    beginning of year $792,129 · end of year $1,611,907

  • 4 · Accounts receivable

    beginning of year $24,480

  • 7 · Other notes and loans receivable

    beginning of year $116,336 · end of year $143,305

  • 11 · Investments: publicly traded securities

    beginning of year $40,989,458 · end of year $34,363,233

  • 15 · Other assets

    beginning of year $60,278 · end of year $511,096

  • 17 · Accounts payable and accrued expenses

    beginning of year $139,757 · end of year $815,972

  • 18 · Grants payable

    beginning of year $423,547

  • 23 · Secured mortgages and notes payable

    beginning of year $2,177

  • 27 · Net assets without donor restrictions

    beginning of year $1,462,482 · end of year $1,315,720

  • 28 · Net assets with donor restrictions

    beginning of year $42,493,436 · end of year $37,874,176

Mission and programs · 2022

Mission

POLK STATE COLLEGE FOUNDATION WORKS IN TANDEM WITH POLK STATE COLLEGE TO HELP IT MEET ITS HALLMARKS AND COMMITMENT TO THE COMMUNITY OF ACCESS AND AFFORDABILITY TO HIGHER EDUCATION. SEE SCHEDULE O.SCHOLARSHIPS ARE A KEY WAY THE FOUNDATION ACCOMPLISHES THIS AND, AS SUCH, REMAINS THE FOUNDATION'S NUMBER-ONE FUNDRAISING PRIORITY. THE POLK STATE COLLEGE FOUNDATION IS GOVERNED BY A BOARD OF DIRECTORS COMPRISED OF COMMUNITY LEADERS, AS WELL AS A STRONG MANAGEMENT TEAM TO ENSURE THAT DONATIONS ARE WISELY MANAGED AND LEVERAGED TO MAXIMIZE THE BENEFIT TO THE STUDENTS. GIFTS AT EVERY LEVEL ARE APPRECIATED AND TRULY MAKE A DIFFERENCE IN THE LIVES OF POLK STATE STUDENTS. SOME STUDENTS, INDEED, NEED HELP PAYING FOR THE MAJORITY OF THEIR TUITION, WHILE OTHERS SIMPLY NEED HELP WITH THE COST OF A BOOK TO BE ABLE TO AFFORD TAKING A CLASS AT POLK.

Activities or mission (Part I)

TO PROVIDE POLK STATE COLLEGE WITH RESOURCES FOR THE ADVANCEMENT OF THE COLLEGE.

  • THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGH AWARDING MORE THAN $1 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDS ARE DONOR DIRECTED AND HELP LIFT UP STUDENTS THROUGHOUT THE COLLEGE POPULATION. FIRST GENERATION, ALLIED HEALTH, PUBLIC SAFETY, ATHLETICS, THE ARTS AND EMERGENCY SCHOLARSHIPS ARE A FEW EXAMPLES OF DONOR DESIGNATIONS. IN ADDITION TO TRADITIONAL AND NON-TRADITIONAL SCHOLARSHIP AWARDS, THE FOUNDATION HAS A POPULAR ELEMENTARY SCHOLARSHIP PROGRAM, WHERE AT LEAST ONE GRADUATE OF EVERY ELEMENTARY SCHOOL IN POLK COUNTY IS AWARDED A SCHOLARSHIP TO ATTEND POLK STATE UPON GRADUATION FROM HIGH SCHOOL. THE FOUNDATION ALSO HELPS TO ELEVATE THE COLLEGE THROUGH AN ENDOWED TEACHING CHAIR PROGRAM THAT HONORS DISTINGUISHED FACULTY. (CONTINUED ON SCHEDULE O)POLK STATE COLLEGE HAS BEEN FURTHER STRENGTHENED BY DONOR CONTRIBUTIONS TO THE FOUNDATION FOR FACILITIES, EQUIPMENT, PROGRAMS AND TECHNOLOGY.

    Expenses $1,849,477 · Grants $1,383,924

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

Listed in Part VII

  • Greta Dupuy

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • David Fisher

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Jennifer Hall

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Bo Boyte

    DEVELOPMENT CHAIR/SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Eric Johnson

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Ann Barnhart

    BOARD MEMBER AS OF JULY 2022

    Total calculated
    $0
    Hours/week
    0.25

  • Jay Burns

    BOARD MEMBER AS OF JULY 2022

    Total calculated
    $0
    Hours/week
    0.25

  • Angela Falconetti

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Jennifer Fasking

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Scott Hart

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Nikki Hayde

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Rex Jackson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Bill Jacobs

    BOARD MEMBER AS OF JULY 2022

    Total calculated
    $0
    Hours/week
    0.25

  • Jennifer Kincart Jonsson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Garrett Kenny

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Michelle Ledford

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Beth Lucket

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Paul Morin

    BOARD MEMBER AS OF JULY 2022

    Total calculated
    $0
    Hours/week
    0.25

  • Matt Mucci

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Kathleen Munson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Jason Penrod

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Nick Plott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Alex Price

    BOARD MEMBER AS OF JULY 2022

    Total calculated
    $0
    Hours/week
    0.25

  • Summer Roth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Christine Samuel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Turner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Wendy Venters

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Stacey Heacock Weeks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Jeff Baldwin

    EXECUTIVE DIRECTOR THRU OCT. 2022

    Total calculated
    $92,308
    From this org
    $0
    From related orgs
    $82,091
    Other
    $10,217
    Hours/week
    40

  • Cindy Baker

    CHIEF FINANCIAL OFFICER

    Total calculated
    $106,670
    From this org
    $0
    From related orgs
    $95,541
    Other
    $11,129
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations 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.

  • POLK STATE COLLEGE

    PUBLIC INSTITUTION THAT EDUCATES AND CREATES CONNECTIONS FOR STUDENTS · FL

Provenance

Return type
form_990
Tax year
2022
Filed
12 December 2024
IRS schema version
2022v5.0
Source object
202530159349301383

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