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Nonprofiteer
← POLK STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by POLK STATE COLLEGE FOUNDATION INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 12 December 2024. matched by us Only the Part I totals and the names listed in Part VII 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
-$1,090,071
Total expenses
$2,096,181
Contributions and grants received
$3,144,826
Grants paid
$1,294,198
Program service revenue
$0
Investment income
-$4,234,897
Other revenue
$0
Total assets, end of year
$40,305,491
Total liabilities, end of year
$747,436
Net assets or fund balances, end of year
$39,558,055
Program services expenses (Part IX)
$1,497,009
Management and general expenses
$587,839
Fundraising expenses
$11,333
Program service expenses (Part III)
$1,497,009

Program services were 71.4% 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.

  • 1e · Government grants (contributions)

    $3,129,046

  • 1f · All other contributions, gifts and grants

    $15,780

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

    other assets $4,234,897

  • 7c · Gain or loss

    other assets -$4,234,897

  • 7d · Net gain or loss

    total -$4,234,897 · related or exempt -$4,234,897

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,294,198 · program services $1,294,198

  • 11c · Fees: accounting

    total $52,439 · management and general $52,439

  • 11d · Fees: lobbying

    total $120,000 · program services $108,000 · management and general $6,000 · fundraising $6,000

  • 11f · Fees: investment management

    total $356,882 · management and general $356,882

  • 11g · Fees: other

    total $91,841 · program services $91,841

  • 12 · Advertising and promotion

    total $2,363 · fundraising $2,363

  • 13 · Office expenses

    total $95,143 · management and general $95,143

  • 14 · Information technology

    total $59,392 · program services $2,970 · management and general $53,452 · fundraising $2,970

  • 19 · Conferences, conventions and meetings

    total $23,923 · management and general $23,923

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,472,323 · end of year $2,381,248

  • 2 · Savings and temporary cash investments

    beginning of year $66,395

  • 3 · Pledges and grants receivable

    beginning of year $792,129

  • 4 · Accounts receivable

    beginning of year $24,480 · end of year $30,095

  • 7 · Other notes and loans receivable

    beginning of year $116,336 · end of year $173,012

  • 11 · Investments: publicly traded securities

    beginning of year $40,989,458 · end of year $35,483,906

  • 15 · Other assets

    beginning of year $60,278 · end of year $2,237,230

  • 17 · Accounts payable and accrued expenses

    beginning of year $139,757 · end of year $747,436

  • 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 $1,708,025

  • 28 · Net assets with donor restrictions

    beginning of year $42,493,436 · end of year $37,850,030

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.

  • THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGHAWARDING MORE THAN $1 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDSARE 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 CHAIRPROGRAM THAT HONORS DISTINGUISHED FACULTY. (CONTINUED ON SCHEDULE O)

    Expenses $1,497,009 · Grants $1,294,198

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

Listed in Part VII

  • SUMMER ROTH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • CHRISTINE SAMUEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • WENDY VENTORS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • 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
    0.5

  • MICHELLE LEDFORD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • BETH LUCKET

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • MARK TURNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • STACEY HEACOCK WEEKS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • SCOTT HART

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • JENNIFER FASKING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • MATT MUCCI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • NIKKI HAYDE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • DR ANGELA GARCIA FALCONETTI

    DIRECTORPRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • ERIC JOHNSON

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • JENNIFER KINCART JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • GARRETT KENNY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • REX JACKSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • DAVID FISHER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • GRETA DUPUY

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • BO BOYTE

    DEVELOPMENT CHAIRSECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • JENNIFER HALL

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • JEFF BALDWIN

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    50

  • CINDY BAKER

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    50

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 February 2024
IRS schema version
2022v5.0
Source object
202400469349303310

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