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← FLORIDA BANKERS EDUCATIONAL FOUNDATION

Form 990 for tax year 2022

Filed by FLORIDA BANKERS EDUCATIONAL FOUNDATION.

Totals

Total revenue
$269,932
Total expenses
$353,559
Contributions and grants received
$284,166
Grants paid
$221,750
Program service revenue
$0
Investment income
-$16,557
Other revenue
$2,323
Total assets, end of year
$2,762,765
Total liabilities, end of year
$44,623
Net assets or fund balances, end of year
$2,718,142
Program services expenses (Part IX)
$311,374
Management and general expenses
$42,185
Fundraising expenses
$0
Program service expenses (Part III)
$311,374

Program services were 88.1% 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

    $284,166

  • 3 · Investment income

    total $67,239 · excluded $67,239

  • 7a · Gross sales of assets other than inventory

    securities $50,000

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

    securities $133,796

  • 7c · Gain or loss

    securities -$83,796

  • 7d · Net gain or loss

    total -$83,796 · excluded -$83,796

  • 8a · Fundraising events: gross income

    $6,161

  • 8b · Fundraising events: direct expenses

    $3,846

  • 8c · Net income from fundraising events

    total $2,315 · excluded $2,315

  • 11a · Other revenue: MISCELLANEOUS

    total $8 · excluded $8

  • 11e · Other revenue, total

    $8

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,000 · program services $3,000

  • 2 · Grants to domestic individuals

    total $218,750 · program services $218,750

  • 5 · Compensation of officers, directors and key employees

    total $61,973 · program services $61,973

  • 8 · Pension plan contributions

    total $8,484 · program services $8,484

  • 9 · Other employee benefits

    total $10,016 · program services $10,016

  • 10 · Payroll taxes

    total $4,740 · program services $4,740

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 11f · Fees: investment management

    total $19,137 · management and general $19,137

  • 13 · Office expenses

    total $959 · management and general $959

  • 16 · Occupancy

    total $6,092 · management and general $6,092

  • 17 · Travel

    total $604 · program services $604

  • 23 · Insurance

    total $1,044 · management and general $1,044

  • 24a · Other expenses: ALLOCATION

    total $3,600 · management and general $3,600

  • 24b · Other expenses: PROVISION FOR LOANS

    total $2,742 · program services $2,742

  • 24c · Other expenses: MISCELLANEOUS

    total $1,309 · program services $1,065 · management and general $244

  • 24d · Other expenses: MEALS & ENTERTAINMENT

    total $109 · management and general $109

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,469 · end of year $32,126

  • 3 · Pledges and grants receivable

    beginning of year $40,000

  • 4 · Accounts receivable

    beginning of year $967 · end of year $5,673

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,108 · end of year $1,690

  • 11 · Investments: publicly traded securities

    beginning of year $2,523,671 · end of year $2,723,276

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,744 · end of year $44,623

  • 27 · Net assets without donor restrictions

    beginning of year $2,416,471 · end of year $2,578,142

  • 28 · Net assets with donor restrictions

    beginning of year $140,000 · end of year $140,000

Mission and programs · 2022

Mission

IT IS THE MISSION OF THE FLORIDA BANKERS EDUCATIONAL FOUNDATION TO ADVANCE CAREERS IN BANKING.

  • THE FOUNDATION GRANTS SCHOLARSHIP/LOAN ASSISTANCE TO BANKERS SEEKING TO ADVANCE THEIR COLLEGE EDUCATION AND/OR PROFESSIONAL DEVELOPMENT. ALL LOANS GRANTED CONTAIN A FORGIVENESS FEATURE WHICH STATES THAT AFTER A STUDENT GRADUATES FROM COLLEGE, THE LOAN WILL BE FORGIVEN IF THE GRADUATE COMPLETES ONE YEAR OF FULL-TIME CONTINUOUS EMPLOYMENT WITH A FLORIDA BANK. IN 2022 - 2023, THE FOUNDATION GRANTED 3 SCHOLARSHIP/LOAN FOR $8,500 AND FORGAVE IN FULL 1 SCHOLARSHIP/LOAN FOR A TOTAL OF $5,600.

    Expenses $311,374 · Grants $221,750

As filed on the 2022 return.

Listed in Part VII

  • Susan Payne Turner

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Bethany H Corum

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Connie Frady

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Fred Leopold

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Edward Meggs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Cathy P Swanson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • John M Thompson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Lesley Jordan

    CFO

    Total calculated
    $248,454
    From this org
    $0
    From related orgs
    $204,641
    Other
    $43,813
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,439 related
    Bonus
    $0 + $56,118 related
    Other
    $0 + $1,084 related
    Deferred
    $0 + $36,067 related
    Nontaxable benefits
    $0 + $7,746 related
    Filer's total
    $0 + $248,454 related

  • Leticia Newton

    EXECUTIVE DIRECTOR

    Total calculated
    $81,652
    From this org
    $0
    From related orgs
    $62,712
    Other
    $18,940
    Hours/week
    40

  • Pamela Ricco

    STAFF LIASON

    Total calculated
    $318,023
    From this org
    $0
    From related orgs
    $263,924
    Other
    $54,099
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,634 related
    Bonus
    $0 + $69,533 related
    Other
    $0 + $3,757 related
    Deferred
    $0 + $46,353 related
    Nontaxable benefits
    $0 + $7,746 related
    Filer's total
    $0 + $318,023 related

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 · 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 3
THE FOUNDATION COMPENSATION PACKAGES ARE APPROVED BY THE CEO OF FLORIDA BANKERS ASSOCIATION AND INCLUDED IN THE ANNUAL BUDGET OF THE ORGANIZATION. THE FOUNDATION'S ANNUAL BUDGET IS APPROVED EACH YEAR BY THE BOARD OF TRUSTEES.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
25 January 2024
IRS schema version
2022v5.0
Source object
202410319349301751

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