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Nonprofiteer
← FLORIDA BANKERS EDUCATIONAL FOUNDATION

Form 990 for tax year 2023

Filed by FLORIDA BANKERS EDUCATIONAL FOUNDATION.

Totals

Total revenue
$203,397
Total expenses
$149,369
Contributions and grants received
$115,539
Grants paid
$7,000
Program service revenue
$0
Investment income
$79,006
Other revenue
$8,852
Total assets, end of year
$3,208,509
Total liabilities, end of year
$45,202
Net assets or fund balances, end of year
$3,163,307
Program services expenses (Part IX)
$102,642
Management and general expenses
$46,727
Fundraising expenses
$0
Program service expenses (Part III)
$102,642

Program services were 68.7% 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.

  • 1f · All other contributions, gifts and grants

    $115,539

  • 3 · Investment income

    total $63,980 · excluded $63,980

  • 7a · Gross sales of assets other than inventory

    securities $55,305

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

    securities $40,279

  • 7c · Gain or loss

    securities $15,026

  • 7d · Net gain or loss

    total $15,026 · excluded $15,026

  • 8a · Fundraising events: gross income

    $11,575

  • 8b · Fundraising events: direct expenses

    $2,732

  • 8c · Net income from fundraising events

    total $8,843 · excluded $8,843

  • 11a · Other revenue: MISCELLANEOUS

    total $9 · excluded $9

  • 11e · Other revenue, total

    $9

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,000 · program services $7,000

  • 5 · Compensation of officers, directors and key employees

    total $67,222 · program services $67,222

  • 8 · Pension plan contributions

    total $8,887 · program services $8,887

  • 9 · Other employee benefits

    total $10,580 · program services $10,580

  • 10 · Payroll taxes

    total $4,894 · program services $4,894

  • 11b · Fees: legal

    total $1,261 · management and general $1,261

  • 11c · Fees: accounting

    total $11,200 · management and general $11,200

  • 11f · Fees: investment management

    total $21,343 · management and general $21,343

  • 13 · Office expenses

    total $961 · management and general $961

  • 16 · Occupancy

    total $6,117 · management and general $6,117

  • 17 · Travel

    total $544 · program services $544

  • 22 · Depreciation, depletion and amortization

    total $350 · management and general $350

  • 23 · Insurance

    total $1,796 · management and general $1,796

  • 24a · Other expenses: ALLOCATION

    total $3,600 · management and general $3,600

  • 24b · Other expenses: PROVISION FOR LOANS

    total $3,515 · program services $3,515

  • 24c · Other expenses: MEALS & ENTERTAINMENT

    total $99 · management and general $99

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,126 · end of year $43,899

  • 4 · Accounts receivable

    beginning of year $5,673 · end of year $3,718

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,690 · end of year $1,671

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

    $1,800

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

    $350

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,450

  • 11 · Investments: publicly traded securities

    beginning of year $2,723,276 · end of year $3,157,771

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,623 · end of year $45,202

  • 27 · Net assets without donor restrictions

    beginning of year $2,578,142 · end of year $3,023,307

  • 28 · Net assets with donor restrictions

    beginning of year $140,000 · end of year $140,000

Mission and programs · 2023

Mission

IT IS THE MISSION OF THE FLORIDA BANKERS EDUCATIONAL FOUNDATION TO ADVANCE CAREERS IN BANKING.

  • THE FOUNDATION GRANTS SCHOLARSHIP/LOAN ASSISTANCE TO BANKERS SEEKING TO ADVANCE THEIR COLLEGE EDUCATION AND/OR PROFESSIONAL DEVELOPMENT. ALL LOANS GRANTED CONTAIN A FORGIVENESS FEATURE WHICH STATES THAT AFTER A STUDENT GRADUATES FROM COLLEGE, THE LOAN WILL BE FORGIVEN IF THE GRADUATE COMPLETES ONE YEAR OF FULL-TIME CONTINUOUS EMPLOYMENT WITH A FLORIDA BANK. IN 2023-2024, THE FOUNDATION GRANTED 4 SCHOLARSHIP/LOAN FOR $16,500 AND FORGAVE IN FULL 2 SCHOLARSHIP/LOAN FOR A TOTAL OF $3,500.

    Expenses $102,642 · Grants $7,000

As filed on the 2023 return.

Listed in Part VII

  • Fred Leopold

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Connie Nelson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Susan Payne Turner

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • Gwynn Davey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Candace Marshall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Daniel Martinez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • John M Thompson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Robert White

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Shaun Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Lesley Jordan

    CFO

    Total calculated
    $273,752
    From this org
    $0
    From related orgs
    $212,633
    Other
    $61,119
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,599 related
    Bonus
    $0 + $57,550 related
    Other
    $0 + $2,484 related
    Deferred
    $0 + $52,641 related
    Nontaxable benefits
    $0 + $8,478 related
    Filer's total
    $0 + $273,752 related

  • Pamela Ricco

    COO

    Total calculated
    $354,210
    From this org
    $0
    From related orgs
    $275,463
    Other
    $78,747
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,306 related
    Bonus
    $0 + $73,510 related
    Other
    $0 + $4,647 related
    Deferred
    $0 + $68,366 related
    Nontaxable benefits
    $0 + $10,381 related
    Filer's total
    $0 + $354,210 related

  • Leticia Newton

    EXECUTIVE DIRECTOR

    Total calculated
    $88,301
    From this org
    $0
    From related orgs
    $63,356
    Other
    $24,945
    Hours/week
    40

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 · 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 3
THE FOUNDATION COMPENSATION PACKAGES ARE APPROVED BY THE CEO OF FLORIDA BANKERS ASSOCIATION AND INCLUDED IN THE ANNUAL BUDGET OF THE ORGANIZATION. THE FOUNDATION'S ANNUAL BUDGET IS APPROVED EACH YEAR BY THE BOARD OF TRUSTEES.

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
2023
Filed
24 February 2025
IRS schema version
2023v6.0
Source object
202510649349300106

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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