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Nonprofiteer
← NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION.

Totals

Total revenue
$692,687
Total expenses
$695,179
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$692,687
Investment income
$0
Other revenue
$0
Total assets, end of year
$20,547,028
Total liabilities, end of year
$20,265,771
Net assets or fund balances, end of year
$281,257
Program services expenses (Part IX)
$674,976
Management and general expenses
$20,203
Fundraising expenses
$0
Program service expenses (Part III)
$674,976

Program services were 97.1% 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.

  • 2a · Program service revenue: HOUSING OPERATIONS

    total $692,687 · related or exempt $692,687

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $20,063 · management and general $20,063

  • 20 · Interest

    total $672,484 · program services $672,484

  • 22 · Depreciation, depletion and amortization

    total $2,492 · program services $2,492

  • 24a · Other expenses: MISCELLANEOUS

    total $140 · management and general $140

Balance sheet

Part X, book values.

  • 15 · Other assets

    beginning of year $21,575,520 · end of year $20,547,028

  • 17 · Accounts payable and accrued expenses

    beginning of year $176,074 · end of year $167,582

  • 20 · Tax-exempt bond liabilities

    beginning of year $21,115,697 · end of year $20,098,189

  • 28 · Net assets with donor restrictions

    beginning of year $283,749 · end of year $281,257

Mission and programs · 2022

Mission

DIRECT SUPPORT ORGANIZATION TO PROVIDE AID IN THE FORM OF MONEY AND OTHER FORMS OF PROPERTY AND SERVICES TO NEW COLLEGE OF FLORIDA, A MEMBER OF THE FLORIDA STATE UNIVERSITY SYSTEM.

  • PROVIDING FINANCING FOR THE CONSTRUCTION AND RENOVATION OF EDUCATIONAL AND STUDENT HOUSING FOR NEW COLLEGE OF FLORIDA, A MEMBER OF THE FLORIDA STATE UNIVERSITY SYSTEM.

    Expenses $674,976 · Revenue $692,687

As filed on the 2022 return.

Listed in Part VII

  • Richard Corcoran

    CHAIR

    Total calculated
    $0
    Hours/week
    0.19 + 40 related

  • Brad Theissen

    DIRECTOR

    Total calculated
    $211,604
    From this org
    $0
    From related orgs
    $163,530
    Other
    $48,074
    Hours/week
    0.19

    Schedule J breakdown matched by us

    Base
    $0 + $161,529 related
    Bonus
    $0 + $2,001 related
    Other
    $0
    Deferred
    $0 + $20,500 related
    Nontaxable benefits
    $0 + $27,574 related
    Filer's total
    $0 + $211,604 related

  • Sydney Gruters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.19

  • Henry Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.19

  • Ron Christaldi

    DIRECTOR AND VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.19 + 40 related

  • Patricia Okker

    PREVIOUS CHAIR

    Total calculated
    $404,044
    From this org
    $0
    From related orgs
    $382,431
    Other
    $21,613
    Hours/week
    0.19 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $303,931 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $48,500 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,613 related
    Filer's total
    $0 + $404,044 related

  • Christian Kinsley

    EXECUTIVE DIRECTOR

    Total calculated
    $228,538
    From this org
    $0
    From related orgs
    $185,925
    Other
    $42,613
    Hours/week
    0.77 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $183,925 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0 + $21,000 related
    Nontaxable benefits
    $0 + $21,613 related
    Filer's total
    $0 + $228,538 related

  • Melissa Shippee

    CORP. CONTROLLER

    Total calculated
    $163,075
    From this org
    $0
    From related orgs
    $122,227
    Other
    $40,848
    Hours/week
    3.08 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $120,227 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0 + $21,035 related
    Nontaxable benefits
    $0 + $19,813 related
    Filer's total
    $0 + $163,075 related

  • Maryanne Young

    FORMER DIRECTOR

    Total calculated
    $230,483
    From this org
    $0
    From related orgs
    $208,870
    Other
    $21,613
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,870 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,613 related
    Filer's total
    $0 + $230,483 related

  • Suzanne Sherman

    FORMER DIRECTOR

    Total calculated
    $211,290
    From this org
    $0
    From related orgs
    $189,677
    Other
    $21,613
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,677 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,613 related
    Filer's total
    $0 + $211,290 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

None.

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

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
18 December 2023
IRS schema version
2022v5.0
Source object
202400169349300915

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