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Nonprofiteer
← UNIVERSITY OF FLORIDA FOUNDATION INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF FLORIDA FOUNDATION INC.

Totals

Total revenue
$269,131,431
Total expenses
$287,380,962
Contributions and grants received
$236,793,477
Grants paid
$240,161,899
Program service revenue
$0
Investment income
$23,914,248
Other revenue
$8,423,706
Total assets, end of year
$2,887,204,904
Total liabilities, end of year
$73,409,480
Net assets or fund balances, end of year
$2,813,795,424
Program services expenses (Part IX)
$247,321,391
Management and general expenses
$20,681,891
Fundraising expenses
$19,377,680
Program service expenses (Part III)
$247,321,391

Program services were 86.1% 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.

  • 1d · Related organizations

    $2,652,451

  • 1f · All other contributions, gifts and grants

    $234,141,026

  • 1g · Noncash contributions included above

    $18,370,668

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $43,614 · excluded $43,614

  • 5 · Royalties

    total $2,498,822 · related or exempt $2,498,822 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,138,229

  • 6b · Less rental expenses

    real property $847,845

  • 6c · Rental income or loss

    real property $290,384 · personal property $0

  • 6d · Net rental income or loss

    total $290,384 · unrelated business $827 · excluded $289,557

  • 7a · Gross sales of assets other than inventory

    securities $57,076,362

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

    securities $33,205,728

  • 7c · Gain or loss

    securities $23,870,634 · other assets $0

  • 7d · Net gain or loss

    total $23,870,634 · unrelated business $0 · excluded $23,870,634

  • 11a · Other revenue: TRANSFERS FROM COMPONENT UNITS

    total $2,874,894 · related or exempt $2,874,894 · unrelated business $0 · excluded $0

  • 11b · Other revenue: MISCELLANEOUS

    total $2,440,293 · related or exempt $2,440,293 · unrelated business $0 · excluded $0

  • 11c · Other revenue: REUNIONS AND OTHER EVENTS

    total $254,983 · related or exempt $254,983 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $64,330 · related or exempt $0 · unrelated business $64,330 · excluded $0

  • 11e · Other revenue, total

    $5,634,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $240,161,899 · program services $240,161,899

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,664,301 · program services $0 · management and general $492,126 · fundraising $1,172,175

  • 7 · Other salaries and wages

    total $15,494,938 · program services $0 · management and general $4,742,122 · fundraising $10,752,816

  • 9 · Other employee benefits

    total $6,089,975 · program services $0 · management and general $4,141,186 · fundraising $1,948,789

  • 11b · Fees: legal

    total $34,222 · program services $23 · management and general $21,310 · fundraising $12,889

  • 11c · Fees: accounting

    total $204,426 · program services $0 · management and general $204,176 · fundraising $250

  • 11d · Fees: lobbying

    total $340,860 · program services $340,860 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $913,603 · fundraising $913,603

  • 11f · Fees: investment management

    total $3,706,559 · program services $3,706,559

  • 11g · Fees: other

    total $4,866,975 · program services $1,725,229 · management and general $2,676,303 · fundraising $465,443

  • 12 · Advertising and promotion

    total $85,301 · program services $0 · management and general $0 · fundraising $85,301

  • 13 · Office expenses

    total $1,515,306 · program services $8,907 · management and general $355,741 · fundraising $1,150,658

  • 14 · Information technology

    total $435,965 · program services $0 · management and general $418,105 · fundraising $17,860

  • 16 · Occupancy

    total $328,886 · program services $15,094 · management and general $205,914 · fundraising $107,878

  • 17 · Travel

    total $2,158,900 · program services $849,664 · management and general $115,332 · fundraising $1,193,904

  • 19 · Conferences, conventions and meetings

    total $1,245,420 · program services $11,881 · management and general $436,564 · fundraising $796,975

  • 20 · Interest

    total $46,540 · program services $26,178 · management and general $20,362 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $5,661,399 · program services $189,598 · management and general $5,471,801 · fundraising $0

  • 23 · Insurance

    total $437,496 · program services $7,333 · management and general $430,163 · fundraising $0

  • 24a · Other expenses: ENTERTAINMENT

    total $835,749 · program services $143,464 · management and general $62,616 · fundraising $629,669

  • 24b · Other expenses: MISCELLANEOUS

    total $768,083 · program services $0 · management and general $691,112 · fundraising $76,971

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $328,185 · program services $134,702 · management and general $141,134 · fundraising $52,349

  • 24d · Other expenses: MAINTENANCE

    total $55,974 · program services $0 · management and general $55,824 · fundraising $150

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,359,552 · end of year $28,533,311

  • 2 · Savings and temporary cash investments

    beginning of year $1,347,839 · end of year $1,441,110

  • 3 · Pledges and grants receivable

    beginning of year $110,846,281 · end of year $112,620,354

  • 4 · Accounts receivable

    beginning of year $775,901 · end of year $13,203,880

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,256,623 · end of year $900,352

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

    $130,478,669

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

    $23,172,126

  • 10c · Land, buildings and equipment, net

    beginning of year $112,835,145 · end of year $107,306,543

  • 11 · Investments: publicly traded securities

    beginning of year $1,619,080 · end of year $1,896,602

  • 12 · Investments: other securities

    beginning of year $2,386,980,068 · end of year $2,505,907,873

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $114,229,194 · end of year $115,394,879

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,883,772 · end of year $11,846,023

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $525,462 · end of year $396,193

  • 25 · Other liabilities

    beginning of year $59,675,538 · end of year $61,167,264

  • 29 · Capital stock, trust principal or current funds

    beginning of year $239,857,819 · end of year $261,730,948

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $106,770,183 · end of year $104,284,755

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,333,536,909 · end of year $2,447,779,721

Mission and programs · 2023

Mission

SEE SCHEDULE O

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT, IN ACCORDANCE WITH DONOR RESTRICTIONS, TO THE MANY COLLEGES, UNITS, AND PROGRAMS OF THE UNIVERSITY OF FLORIDA.

    Expenses $121,625,028 · Grants $115,376,329 · Revenue $7,237,414

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR THE UNIVERSITY OF FLORIDA FOR DONOR PROVIDED FINANCIAL AID TO QUALIFIED STUDENTS.

    Expenses $32,821,660 · Grants $32,819,982 · Revenue $103,317

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR FACULTY AND STAFF OF THE MANY COLLEGES AND UNITS OF THE UNIVERSITY OF FLORIDA INCLUDING, BUT NOT LIMITED TO, ENDOWED CHAIRS AND PROFESSORSHIPS.

    Expenses $30,254,930 · Grants $30,254,930 · Revenue $8

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR THE UNIVERSITY OF FLORIDA TO CONSTRUCT NEW BUILDINGS AND RENOVATE EXISTING FACILITIES TO ENHANCE THE EDUCATION EXPERIENCE OF ALL STUDENTS.

    Expenses $32,282,155 · Grants $32,235,764

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR THE UNIVERSITY OF FLORIDA FOR RESEARCH FUNDING.

    Expenses $19,085,537 · Grants $19,017,967 · Revenue $792,583

  • THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR OTHER PURPOSES, INCLUDING, BUT NOT LIMITED TO, SPECIAL EVENTS, PROJECTS AND PROGRAMS WITH MULTIPLE OR BROAD PURPOSES.

    Expenses $11,252,081 · Grants $10,456,927

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Anita G Zucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Ben Sasse

    DIRECTOR

    Total calculated
    $1,058,991
    From this org
    $0
    From related orgs
    $877,907
    Other
    $181,084
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $874,483 related
    Bonus
    $0
    Other
    $0 + $3,424 related
    Deferred
    $0 + $158,230 related
    Nontaxable benefits
    $0 + $22,854 related
    Filer's total
    $0 + $1,058,991 related
  • Chris A Malachowsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Christy A Powell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Cynthia L Pekrul

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • David W Nelms

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Eugene K Pettis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Howard M Sheridan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Joelen K Merkel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Jose A Costa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Karen H Unger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Linda S Parker Hudson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Mark Austin Rosser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Patricia L Pacey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Rahul Patel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Robert Gary Stern

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Sachio Semmoto

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Scott J Angle

    DIRECTOR

    Total calculated
    $546,921
    From this org
    $0
    From related orgs
    $487,218
    Other
    $59,703
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $461,218 related
    Bonus
    $0 + $26,000 related
    Other
    $0
    Deferred
    $0 + $35,173 related
    Nontaxable benefits
    $0 + $24,530 related
    Filer's total
    $0 + $546,921 related
  • Swati Ramu Patel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Taylor Jantz

    DIRECTOR

    Total calculated
    $259,097
    From this org
    $0
    From related orgs
    $239,014
    Other
    $20,083
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $109,834 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $69,180 related
    Deferred
    $0 + $14,974 related
    Nontaxable benefits
    $0 + $5,109 related
    Filer's total
    $0 + $259,097 related
  • W Kent Fuchs

    DIRECTOR

    Total calculated
    $1,303,331
    From this org
    $0
    From related orgs
    $1,166,881
    Other
    $136,450
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $977,923 related
    Bonus
    $0
    Other
    $0 + $188,958 related
    Deferred
    $0 + $113,916 related
    Nontaxable benefits
    $0 + $22,534 related
    Filer's total
    $0 + $1,303,331 related
  • David M Christie

    ASSOC VP & COO

    Total calculated
    $359,595
    From this org
    $307,168
    From related orgs
    $0
    Other
    $52,427
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,927
    Bonus
    $25,000
    Other
    $2,241
    Deferred
    $27,723
    Nontaxable benefits
    $24,704
    Filer's total
    $359,595
  • Jon W Pritchett

    CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Karen E Sprague

    STRATEGIC ADVISOR

    Total calculated
    $334,681
    From this org
    $281,413
    From related orgs
    $0
    Other
    $53,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,413
    Bonus
    $40,000
    Other
    $0
    Deferred
    $28,574
    Nontaxable benefits
    $24,694
    Filer's total
    $334,681
  • Maria Martin

    INTERIM EXEC. VICE PRESIDENT

    Total calculated
    $452,623
    From this org
    $398,009
    From related orgs
    $0
    Other
    $54,614
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $294,501
    Bonus
    $75,000
    Other
    $28,508
    Deferred
    $29,200
    Nontaxable benefits
    $25,414
    Filer's total
    $452,623
  • Michael S Johnson

    ASSISTANT VP & CFO

    Total calculated
    $270,711
    From this org
    $218,895
    From related orgs
    $0
    Other
    $51,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,064
    Bonus
    $0
    Other
    $1,831
    Deferred
    $28,423
    Nontaxable benefits
    $23,393
    Filer's total
    $270,711
  • Susan G Goffman

    SECRETARY

    Total calculated
    $258,404
    From this org
    $211,651
    From related orgs
    $0
    Other
    $46,753
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,651
    Bonus
    $10,000
    Other
    $0
    Deferred
    $26,398
    Nontaxable benefits
    $20,355
    Filer's total
    $258,404
  • Tara Boonstra

    SECRETARY

    Total calculated
    $124,235
    From this org
    $89,254
    From related orgs
    $0
    Other
    $34,981
    Hours/week
    30
  • Thomas J Mitchell

    EXEC. VICE PRESIDENT

    Total calculated
    $871,593
    From this org
    $813,012
    From related orgs
    $0
    Other
    $58,581
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $806,802
    Bonus
    $0
    Other
    $6,210
    Deferred
    $32,939
    Nontaxable benefits
    $25,642
    Filer's total
    $871,593
  • Joseph A Mandernach

    SENIOR ASSOCIATE VP

    Total calculated
    $392,967
    From this org
    $360,870
    From related orgs
    $0
    Other
    $32,097
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $332,043
    Bonus
    $25,000
    Other
    $3,827
    Deferred
    $29,004
    Nontaxable benefits
    $3,093
    Filer's total
    $392,967
  • Anna M Harper

    ASSOCIATE VICE PRESIDENT

    Total calculated
    $293,830
    From this org
    $242,188
    From related orgs
    $0
    Other
    $51,642
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,762
    Bonus
    $6,900
    Other
    $8,526
    Deferred
    $29,429
    Nontaxable benefits
    $22,213
    Filer's total
    $293,830
  • Hope Carter

    ASSISTANT VICE PRESIDENT

    Total calculated
    $272,207
    From this org
    $223,586
    From related orgs
    $0
    Other
    $48,621
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,531
    Bonus
    $0
    Other
    $3,055
    Deferred
    $22,133
    Nontaxable benefits
    $26,488
    Filer's total
    $272,207
  • Jonathan W Cannon

    EXECUTIVE DIRECTOR OF DEVELOPMENT

    Total calculated
    $263,152
    From this org
    $215,720
    From related orgs
    $0
    Other
    $47,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,771
    Bonus
    $0
    Other
    $2,949
    Deferred
    $21,327
    Nontaxable benefits
    $26,105
    Filer's total
    $263,152
  • Kimberly M Metzger

    ASSOCIATE VICE PRESIDENT

    Total calculated
    $432,281
    From this org
    $370,249
    From related orgs
    $0
    Other
    $62,032
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $307,224
    Bonus
    $60,000
    Other
    $3,025
    Deferred
    $39,947
    Nontaxable benefits
    $22,085
    Filer's total
    $432,281
  • Ryan Marsh

    ASSISTANT VICE PRESIDENT

    Total calculated
    $251,632
    From this org
    $205,900
    From related orgs
    $0
    Other
    $45,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,946
    Bonus
    $0
    Other
    $2,954
    Deferred
    $20,314
    Nontaxable benefits
    $25,418
    Filer's total
    $251,632

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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)

Schedule J, Part I, Line 1a First-class or charter travel
PRIVATE AIRCRAFT ARE USED, AS APPROPRIATE, WHEN UNIVERSITY OF FLORIDA FOUNDATION (UFF) LEADERSHIP NEED TO MAKE A BUSINESS TRIP WHEN THE TIMING OR LOCATION NECESSITATES THE USE OF SUCH PLANES. TRAVEL IS PROVIDED, ON FUNDRAISING TRIPS, FOR COMPANIONS OF UFF LEADERSHIP WHEN A BONA FIDE BUSINESS PURPOSE EXISTS. THESE BENEFITS ARE NOT TAXABLE INCOME TO THE RECIPIENTS ON SCHEDULE J, PART II.
Schedule J, Part I, Line 1a Travel for companions
TRAVEL IS PROVIDED, ON FUNDRAISING TRIPS, FOR COMPANIONS OF UFF LEADERSHIP WHEN A BONA FIDE BUSINESS PURPOSE EXISTS.
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE UNIVERSITY OF FLORIDA, A RELATED ORGANIZATION, USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION FOR THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR: - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FL PRIVATE INVESTMENTS FUND LP

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

  • FL LONG TERM POOL FUND LP

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

  • FL SHORT-TERM POOL FUND LP

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

  • FL GLOBAL EQUITY FUND LLC

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

  • FL GLOBAL FIXED INCOME FUND LLC

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

  • FL HEDGED STRATEGIES FUND LLC

    Excluded · INVESTMENT IN OTHER ENTITIES · DE

    Directly controlled by UFICO

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (85)

    Trust · SUPPORT · FL

  • CHARITABLE LEAD TRUST (1)

    Trust · SUPPORT · FL

  • CHARITABLE REMAINDER TRUST (1)

    Trust · SUPPORT · MD

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202511349349306916

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