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Nonprofiteer
← FLORIDA AGRICULTURAL & MECHANICAL UNIV FOUNDATION INC

Form 990 for tax year 2023

Filed by FLORIDA AGRICULTURAL & MECHANICAL UNIV FOUNDATION INC.

Totals

Total revenue
$36,839,426
Total expenses
$22,849,671
Contributions and grants received
$27,940,688
Grants paid
$6,577,604
Program service revenue
$0
Investment income
$5,739,225
Other revenue
$3,159,513
Total assets, end of year
$206,789,779
Total liabilities, end of year
$1,067,587
Net assets or fund balances, end of year
$205,722,192
Program services expenses (Part IX)
$16,866,898
Management and general expenses
$4,506,197
Fundraising expenses
$1,476,576
Program service expenses (Part III)
$16,866,898

Program services were 73.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Larry Robinson

    Univ. President

    Total calculated
    $789,749
    From this org
    $0
    From related orgs
    $767,776
    Other
    $21,973
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    not reported + $684,029 related
    Bonus
    not reported + $83,747 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $21,973 related
    Filer's total
    not reported + $789,749 related

  • Shawnta Friday-Stroud PhD

    Executive Dir.

    Total calculated
    $274,001
    From this org
    $263,015
    From related orgs
    $0
    Other
    $10,986
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $263,015
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $10,986
    Filer's total
    $274,001

  • Carmen Cummings Martin

    OAA Exec. Dir.

    Total calculated
    $166,170
    From this org
    $0
    From related orgs
    $144,197
    Other
    $21,973
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    not reported + $144,197 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $21,973 related
    Filer's total
    not reported + $166,170 related

  • Latosha Adams-Francis

    Dir. Finance Svcs.

    Total calculated
    $135,778
    From this org
    $113,805
    From related orgs
    $0
    Other
    $21,973
    Hours/week
    50

  • Lisa R LaBoo

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Kenneth M Neighbors

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Freddie Raines

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Erica D Hill

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Curtis E Johnson Jr

    NAA Rep.

    Total calculated
    $0
    Hours/week
    1

  • Chan Bryant Abney

    Director

    Total calculated
    $0
    Hours/week
    1

  • Angela C Adderly

    Director

    Total calculated
    $0
    Hours/week
    1

  • Elaine Armster

    Director

    Total calculated
    $0
    Hours/week
    1

  • Hosetta Coleman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gregory L Clark

    Director

    Total calculated
    $0
    Hours/week
    1

  • Marcelia C Freeman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jemal O Gibson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Clifton A Goins IV

    Director

    Total calculated
    $0
    Hours/week
    1

  • John L Green

    Director

    Total calculated
    $0
    Hours/week
    1

  • Monica William Harris

    Director

    Total calculated
    $0
    Hours/week
    1

  • Laurence A Humphries

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lenetra S King

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Brown

    Director

    Total calculated
    $0
    Hours/week
    1

  • TJ Rose

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kyla J Mays

    Director

    Total calculated
    $0
    Hours/week
    1

  • G Scott Uzzell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Twuanna Munroe Ward

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tirrell D Whittley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Terry D Arnold

    Director

    Total calculated
    $0
    Hours/week
    1

  • Billy B Greer IV

    Director

    Total calculated
    $0
    Hours/week
    1

  • W Cecyl Hobbs

    Director

    Total calculated
    $0
    Hours/week
    1

  • Chekesha C Kidd

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Crossman

    BOT Rep.

    Total calculated
    $0
    Hours/week
    1

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 · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 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 1a: Relevant information in regards to selections on 1a.
The Foundation provides the President a housing allowance which is included as taxable compensation and is authorized in the President's employment contract. The Foundation paid for social club dues and initiation fees specifically for fundraising purposes for the President. The University President's contract authorizes the Foundation to provide the President with club memberships for bona fide business related purposes (e.g. fundraising events, etc.) to further enable him to carry out his duties as President. The Foundation paid for reasonable travel expenses for the President's spouse when accompanying him on University-related business, serving a bona fide business purpose, up to a maximum of $5,000 annually which is authorized by the University President's contract.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 December 2024
IRS schema version
2023v5.1
Source object
202403489349300405

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