Form 990 for tax year 2024
Filed by NEW COLLEGE FOUNDATION INCORPORATED.
Totals
- Total revenue
- $14,077,675
- Total expenses
- $4,901,556
- Contributions and grants received
- $5,757,511
- Grants paid
- $3,108,611
- Program service revenue
- $3,500
- Investment income
- $8,313,578
- Other revenue
- $3,086
- Total assets, end of year
- $57,947,210
- Total liabilities, end of year
- $1,023,154
- Net assets or fund balances, end of year
- $56,924,056
- Program services expenses (Part IX)
- $3,969,205
- Management and general expenses
- $701,166
- Fundraising expenses
- $231,185
- Program service expenses (Part III)
- $3,969,205
Program services were 81.0% 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.
-
1c · Fundraising events
$378,074
-
1f · All other contributions, gifts and grants
$5,379,437
-
1g · Noncash contributions included above
$45,352
-
2a · Program service revenue: RENTAL INCOME
total $3,500 · related or exempt $3,500
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $779,090 · excluded $779,090
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $40,802,076
-
7b · Less cost or other basis and sales expenses
securities $33,267,505 · other assets $83
-
7c · Gain or loss
securities $7,534,571 · other assets -$83
-
7d · Net gain or loss
total $7,534,488 · excluded $7,534,488
-
8a · Fundraising events: gross income
$203,037
-
8a · Fundraising events: contributions included on line 1c
$378,074
-
8b · Fundraising events: direct expenses
$208,994
-
8c · Net income from fundraising events
total -$5,957 · excluded -$5,957
-
11a · Other revenue: OTHER INCOME
total $9,043 · excluded $9,043
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$9,043
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,108,611 · program services $3,108,611
-
5 · Compensation of officers, directors and key employees
total $284,913 · program services $151,046 · management and general $85,982 · fundraising $47,885
-
7 · Other salaries and wages
total $164,553 · program services $110,213 · management and general $21,647 · fundraising $32,693
-
11b · Fees: legal
total $14,968 · management and general $14,968
-
11c · Fees: accounting
total $32,000 · management and general $32,000
-
11d · Fees: lobbying
total $418,960 · program services $418,960
-
11f · Fees: investment management
total $331,637 · management and general $331,637
-
11g · Fees: other
total $112,222 · program services $0 · management and general $11,580 · fundraising $100,642
-
12 · Advertising and promotion
total $146,432 · program services $101,675 · management and general $44,301 · fundraising $456
-
13 · Office expenses
total $40,022 · program services $1,693 · management and general $34,699 · fundraising $3,630
-
14 · Information technology
total $69,939 · program services $8,578 · management and general $17,961 · fundraising $43,400
-
16 · Occupancy
total $27,322 · program services $14,680 · management and general $12,642
-
17 · Travel
total $2,785 · program services $2,035 · management and general $750
-
19 · Conferences, conventions and meetings
total $14,786 · program services $8,793 · management and general $5,922 · fundraising $71
-
20 · Interest
total $14,100 · program services $14,100
-
22 · Depreciation, depletion and amortization
total $60,460 · management and general $60,460
-
23 · Insurance
total $29,923 · program services $6,807 · management and general $23,116
-
24a · Other expenses: DUES AND SUBSCRIPTIONS
total $27,923 · program services $22,014 · management and general $3,501 · fundraising $2,408
-
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 $1,048,922 · end of year $421,170
-
2 · Savings and temporary cash investments
beginning of year $3,266,706 · end of year $5,869,977
-
3 · Pledges and grants receivable
beginning of year $81,015 · end of year $78,962
-
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
-
9 · Prepaid expenses and deferred charges
beginning of year $84,657 · end of year $44,458
-
10a · Land, buildings and equipment: cost or other basis
$2,074,522
-
10b · Land, buildings and equipment: accumulated depreciation
$1,064,841
-
10c · Land, buildings and equipment, net
beginning of year $1,055,899 · end of year $1,009,681
-
11 · Investments: publicly traded securities
beginning of year $38,601,001 · end of year $50,522,962
-
12 · Investments: other securities
beginning of year $5,925,926
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $190,611 · end of year $401,558
-
19 · Deferred revenue
beginning of year $477,336 · end of year $221,504
-
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 $312,960 · end of year $304,234
-
25 · Other liabilities
beginning of year $95,931 · end of year $95,858
-
27 · Net assets without donor restrictions
beginning of year $1,773,834 · end of year $1,980,195
-
28 · Net assets with donor restrictions
beginning of year $47,213,454 · end of year $54,943,861
Mission and programs · 2024
Mission
The mission of New College Foundation is to support the priorities of New College of Florida, Florida's designated honors college. This is accomplished by securing funds as a result of cultivating and stewarding individuals, foundations, and corporations and through the prudent management of assets.
Activities or mission (Part I)
To support the priorities of New College of Florida by cultivating and stewarding donors and managing assets.
-
NEW COLLEGE FOUNDATION FUNDING IS PROVIDED FOR ACADEMIC CHAIRS, PROFESSORSHIPS AND FACULTY SALARIES, ALLOWING NEW COLLEGE OF FLORIDA TO ATTRACT FACULTY OF THE HIGHEST CALIBER AND REPUTATION. ALL CLASSES ARE TAUGHT BY FACULTY WITH A PH.D. OR EQUIVALENT DEGREE. FOUNDATION FUNDING ALSO SUPPORTS INNOVATIVE FACULTY RESEARCH AND DEVELOPMENT WHICH LIES AT THE HEART OF ACADEMIC LEADERSHIP.
Expenses $3,137,462 · Grants $2,276,868
-
NEW COLLEGE FOUNDATION SUPPORTS FACULTY, STAFF AND STUDENTS AT NEW COLLEGE AND WORKS WITH COMMUITY MEMBERS AND GROUPS ON ISSUES WHICH THE ARTS AND HUMANITIES BEAR. TO CONTINUE TO CULTIVATE DONOR RELATIONSHIPS, NEW COLLEGE FOUNDATION ALSO SUPPORTS OTHER NONPROFIT ORGANIZATIONS.
Expenses $418,960 · Grants $418,960
-
The New College Foundation provides scholarship support to New College students, helping them to attend New College of Florida. The financial support the students receive allows them to experience a personalized approach to their education and enables these academically talented students to thrive and realize their full potential, preparing them to assume leadership roles in their scholarly, civic, artistic, and commercial endeavors.
Expenses $412,783 · Grants $412,783 · Revenue $3,500
As filed on the 2024 return.
Listed in Part VII
-
Adam Kendall
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Christie Fitz-Patrick
Treasurer; Chief of Staff New College
- Total calculated
- $247,004
- From this org
- $0
- From related orgs
- $206,708
- Other
- $40,296
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $201,000 related
- Bonus
- $0
- Other
- $0 + $5,708 related
- Deferred
- $0 + $18,500 related
- Nontaxable benefits
- $0 + $21,796 related
- Filer's total
- $0 + $247,004 related
-
James McDonald
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
JJ Fermin Miranda
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Alicja AJ Janson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brian McCarthy
Director
- Total calculated
- $0
- Hours/week
- 1
-
David Smith
Director
- Total calculated
- $0
- Hours/week
- 1
-
Debra Jenks
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dr Lance Karp
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Moore
Director
- Total calculated
- $0
- Hours/week
- 1
-
Eric Robinson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Greg Douglas
Director
- Total calculated
- $0
- Hours/week
- 1
-
Joshua Ingram
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mary Gratehouse
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike Rahn
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rob Bilott
Director
- Total calculated
- $0
- Hours/week
- 1
-
Stuart Clarry
Director
- Total calculated
- $0
- Hours/week
- 1
-
Sydney Gruters
NCF Executive Director
- Total calculated
- $270,385
- From this org
- $201,000
- From related orgs
- $0
- Other
- $69,385
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,000
- Bonus
- $0
- Other
- $0
- Deferred
- $69,385
- Nontaxable benefits
- $0
- Filer's total
- $270,385
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 · Compensation committee
- 3 · Compensation survey or study
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
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
-
New College of Florida
$3,108,611
To support New College of Florida via scholarships, education programs, and faculty training
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.
-
NEW COLLEGE OF FLORIDA
501(c)(1) · EDUCATION · FL
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Charitable Remainder Unitrust - 1
Trust · Trust · FL · controlled entity
Directly controlled by New College
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 11 December 2025
- IRS schema version
- 2024v5.1
- Source object
- 202503459349300840
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