Skip to content
Nonprofiteer
← TRIUMPH GULF COAST INC

Form 990 for tax year 2024

Filed by TRIUMPH GULF COAST INC.

Totals

Total revenue
$113,038,235
Total expenses
$88,313,540
Contributions and grants received
$80,000,000
Grants paid
$87,254,156
Program service revenue
$0
Investment income
$33,038,235
Other revenue
$0
Total assets, end of year
$617,674,364
Total liabilities, end of year
$13,078,246
Net assets or fund balances, end of year
$604,596,118
Program services expenses (Part IX)
$88,141,111
Management and general expenses
$172,429
Fundraising expenses
$0
Program service expenses (Part III)
$88,141,111

Program services were 99.8% 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.

  • 1e · Government grants (contributions)

    $80,000,000

  • 3 · Investment income

    total $33,038,235 · excluded $33,038,235

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $87,254,156 · program services $87,254,156

  • 5 · Compensation of officers, directors and key employees

    total $120,000 · program services $96,000 · management and general $24,000

  • 10 · Payroll taxes

    total $9,180 · program services $7,344 · management and general $1,836

  • 11b · Fees: legal

    total $210,000 · program services $168,000 · management and general $42,000

  • 11c · Fees: accounting

    total $105,195 · program services $84,156 · management and general $21,039

  • 11g · Fees: other

    total $132,500 · program services $132,500

  • 13 · Office expenses

    total $14,946 · management and general $14,946

  • 14 · Information technology

    total $28,806 · management and general $28,806

  • 17 · Travel

    total $2,140 · program services $2,140

  • 23 · Insurance

    total $39,592 · management and general $39,592

  • 24a · Other expenses: GRANTS EVALUATION COSTS

    total $284,670 · program services $284,670

  • 24b · Other expenses: PROGRAM ADMINISTRATION

    total $112,120 · program services $112,120

  • 24c · Other expenses: BANK FEES

    total $210 · management and general $210

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $25 · program services $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $329,910 · end of year $175,555

  • 2 · Savings and temporary cash investments

    beginning of year $589,026,190 · end of year $617,462,483

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,006,689 · end of year $36,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,334 · end of year $51,821

  • 18 · Grants payable

    beginning of year $12,459,032 · end of year $13,026,425

  • 27 · Net assets without donor restrictions

    beginning of year $445,801,998 · end of year $508,653,130

  • 28 · Net assets with donor restrictions

    beginning of year $134,069,425 · end of year $95,942,988

Mission and programs · 2024

Mission

TRIUMPH GULF COAST, INC. IS A NONPROFIT CORPORATION ORGANIZED TO OVERSEE THE EXPENDITURE OF 75 PERCENT OF ALL FUNDS RECOVERED BY THE FLORIDA ATTORNEY GENERAL FOR ECONOMIC DAMAGES TO THE STATE THAT RESULTED FROM THE 2010 DEEPWATER HORIZON OIL SPILL. TRIUMPH GULF COAST, INC., IS REQUIRED TO ADMINISTER THE DISTRIBUTION OF THE FUNDS TO BE USED FOR THE RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE EIGHT NORTHWEST FLORIDA COUNTIES DISPROPORTIONATELY AFFECTED BY THE OIL SPILL. THOSE COUNTIES INCLUDE ESCAMBIA, SANTA ROSA, OKALOOSA, WALTON, BAY, GULF, FRANKLIN AND WAKULLA.

  • TRIUMPH GULF COAST, INC., SHALL MAKE AWARDS FROM AVAILABLE FUNDS TO PROJECTS OR PROGRAMS THAT MEET THE PRIORITIES FOR ECONOMIC RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE DISPROPORTIONATELY AFFECTED COUNTIES. TRIUMPH OPENED THE APPLICATION PROCESS FOR THESE FUNDS IN NOVEMBER 2017. THE FIRST GRANTS WERE AWARDED IN 2018. AWARDS MAY BE PROVIDED FOR: (1) AD VALOREM TAX RATE REDUCTION WITHIN DISPROPORTIONATELY AFFECTED COUNTIES; (2) LOCAL MATCH REQUIREMENTS OF FLORIDA S. 288.0655 FOR PROJECTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES; (3) PUBLIC INFRASTRUCTURE PROJECTS FOR CONSTRUCTION, EXPANSION, OR MAINTENANCE WHICH ARE SHOWN TO ENHANCE ECONOMIC RECOVERY, DIVERSIFICATION, AND ENHANCEMENT OF THE DISPROPORTIONATELY AFFECTED COUNTIES; (4) GRANTS TO LOCAL GOVERNMENTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES TO ESTABLISH AND MAINTAIN EQUIPMENT AND TRAINED PERSONNEL FOR LOCAL ACTION PLANS OF RESPONSE TO RESPOND TO DISASTERS; (5) GRANTS TO SUPPORT PROGRAMS THAT PREPARE STUDENTS FOR FUTURE OCCUPATIONS AND CAREERS AT K-20 INSTITUTIONS THAT HAVE CAMPUSES IN DISPROPORTIONATELY AFFECTED COUNTIES. ELIGIBLE PROGRAMS INCLUDE THOSE THAT INCREASE STUDENTS' TECHNOLOGY SKILLS AND KNOWLEDGE; ENCOURAGE INDUSTRY CERTIFICATIONS; PROVIDE RIGOROUS, ALTERNATIVE PATHWAYS FOR STUDENTS TO MEET HIGH SCHOOL GRADUATION REQUIREMENTS; STRENGTHEN CAREER READINESS INITIATIVES; FUND HIGH-DEMAND PROGRAMS OF EMPHASIS AT THE BACHELOR'S AND MASTER'S LEVEL DESIGNATED BY THE BOARD OF GOVERNORS; AND, SIMILAR TO OR THE SAME AS TALENT RETENTION PROGRAMS CREATED BY THE CHANCELLOR OF THE STATE UNIVERSITY SYSTEM AND THE COMMISSION OF EDUCATION, ENCOURAGE STUDENTS WITH INTEREST OR APTITUDE FOR SCIENCE, TECHNOLOGY, ENGINEERING,MATHEMATICS, AND MEDICAL DISCIPLINES TO PURSUE POSTSECONDARY EDUCATION AT A STATE UNIVERSITY OF A FLORIDA COLLEGE SYSTEM INSTITUTION WITHIN THE DISPROPORTIONATELY AFFECTED COUNTIES; (6) GRANTS TO SUPPORT PROGRAMS THAT PROVIDE PARTICIPANTS IN THE DISPROPORTIONATELY AFFECTED COUNTIES WITH TRANSFERABLE, SUSTAINABLE WORKFORCE SKILLS THAT ARE NOT CONFINED TO A SINGLE EMPLOYER; AND (7) GRANTS TO THE TOURISM ENTITY CREATED UNDER FLORIDA S. 288.1226 FOR THE PURPOSE OF ADVERTISING AND PROMOTING TOURISM AND FRESH FROM FLORIDA, AND GRANTS TO PROMOTE WORKFORCE AND INFRASTRUCTURE, ON BEHALF OF ALL OF THE DISPROPORTIONATELY AFFECTED COUNTIES.

    Expenses $88,141,111 · Grants $87,254,156

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DAVID M BEAR

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • J COLLIER MERRILL

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • REYNOLDS HENDERSON

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • BRYAN A CORR SR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • DAVID L HUMPHREYS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • JAY TRUMBULL SR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • LESLIE WEISS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • SUSAN SKELTON

    EXECUTIVE DIRECTOR

    Total calculated
    $120,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $0
    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

  • OKALOOSA COUNTY BOARD OF COUNTY COMMISSIONERS

    $32,460,976

    FUNDING WILL PROVIDE FOR THE CONSTRUCTION OF A BYPASS AROUND CRESTVIEW TO DIVERT TRAFFIC FROM STATE ROAD 85 TO AREAS IN AND AROUND CRESTVIEW TO THE WEST.

  • WAKULLA COUNTY SCHOOL BOARD

    $11,735,612

    THE GRANT WILL PROVIDE FUNDING FOR THE WAR EAGLE ACADEMY. IT INCLUDES EXPANDING CAREER AND TECHNICAL EDUCATION IN WAKULLA COUNTY TO MEET WORKFORCE DEMAINDS IN THE FLORIDA PANHANDLE AND SURROUNDING AREAS.

  • NORTHWEST FLORIDA STATE COLLEGE

    $8,397,016

    THE GRANT WILL PROVIDE FUNDING TO ESTABLISH THE WALTON WORKS TRAINING CENTER OF EXCELLENCE TO INCREASE NORTHWEST FLORIDA STATE COLLEGE'S ABILITY TO PROVIDE INDUSTRY-RECOGNIZED CREDENTIALS AND EXPAND PROGRAMS THAT ADDRESS THE UNMET HIRING NEEDS OF EMPLOYERS IN THE REGION. ADDITIONAL FUNDING IS REQUESTED TO CREAT THE AVIATION CENTER OF EXCELLENCE TO ESTABLISH WORKFORCE TRAINING PROGRAMS AT THE CRESTVIEW TECHNOLOGY AIR PARK IN OKALOOSA COUNTY.

  • IHMC CENTER

    $5,673,783

    IMHC PROPOSES TO ESTABLISH A CENTER OF EXCELLENCE FOCUSED ON EXPANDING WORK INTO THE CUTTING-EDGE FIELD OF HUMAN HEALTHSPAN, RESILIENCE AND PERFORMANCE. THE GRANT WILL ASSIST IN OPERATIONS, PURCHASING NEW EQUIPMENT, AND IN TURN, ATTRACT MORE RENOWNED SCIENTISTS AND RESEARCHERS.

  • SANTA ROSA COUNTY BOARD OF COUNTY COMMISSIONERS

    $4,364,000

    FUNDING WILL BE USED TO ACQUIRE AND IMPROVE 45 ACRES OF PRIME INDUSTRIAL PROPERTY IN SANTA ROSA COUNTY. IMPROVEMENTS INCLUDE EXTENDING SEWER TO THE SITE, MITIGATING WETLAND FEATURES, AND CONSTRUCTION OF A 380,000 SQUARE FOOT DISTRIBUTION CENTER.

  • PENSACOLA INTERNATIONAL AIRPORT

    $4,255,398

    THIS GRANT WILL PROVIDE FUNDING FOR THE CITY OF PENSACOLA FOR AIRCRAFT MAINTENANCE, REPAIR, AND OVERHAUL OF THE AVIATION CAMPUS AT PENSACOLA INTERNATIONAL AIRPORT.

  • OKALOOSA TECHNICAL COLLEGE

    $3,700,000

    THIS GRANT WILL PROVIDE FUNDING TO OFFER ACCELERATED CERTIFICATIONS IN CONSTRUCTIONS AND ELECTRICAL LABOR FOR UP TO 75 STUDENTS SO THEY WILL BECOME PART OF THE HIGHLY SKILLED PROFESSIONAL WORKFORCE TO REBUILD NORTHWEST FLORIDA.

  • FSU MARINE LAB

    $2,321,772

    THE GRANT WILL PROVIDE FUNDING FOR THE APALACHICOLA BAY SYSTEM INITIATIVE (ABSI) AND ITS EFFORTS TO OBTAIN SOLUTIONS TO THE ECOSYSTEM DECLINE AND TO DEVELOP THE STRATEGIC AND IMPLEMENTATION PLANS NEEDED FOR MOVING TOWARDS RECOVERY. THE ABSI IS A MULTIDISCIPLINARY EFFORT DESIGNED TO GAIN AN UNDERSTANDING OF THE CURRENT DISTRIBUTION AND PRODUCTIVITY OF OYSTER POPULATIONS THROUGHOUT FRANKLIN COUNTY, THE FORCES ACTING ON ECOSYSTEM HEALTH, AND THE BEST PRACTICES FOR RESTORATION AND RECOVERY THAT WILL IMPROVE OPPORTUNITIES FOR WILD HARVEST AND AQUACULTURE OF OYSTERS AND OTHER ECONOMICALLY IMPORTANT SPECIES.

  • WAKULLA COUNTY BOARD OF COUNTY COMMISSIONERS

    $2,293,101

    FUNDING WILL BE USED FOR A NEW FIRST RESPONDER COMMUNICATION SYSTEM FOR WAKULLA COUNTY FIRE AND RESCUE AND WAKULLA COUNTY SHERIFF'S OFFICE.

  • SANTA ROSA COUNTY BOARD OF COUNTY COMMISSIONERS

    $1,547,666

    FUNDING IS BEING USED TO COMPLETE INFRASTRUCTURE CONSTRUCTION TO THE SANTA ROSA INDUSTRIAL PARK EAST, SPECIFICALLY TO ALLOW THREE MANUFACTURING COMPANIES TO EXPAND INTO THE SITE.

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • STATE OF FLORIDA

    STATE GOVERNMENT · FL

Provenance

Return type
form_990
Tax year
2024
Filed
23 September 2025
IRS schema version
2024v5.2
Source object
202502769349300210

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.