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Nonprofiteer
← SOUTH FLORIDA STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2024

Filed by SOUTH FLORIDA STATE COLLEGE FOUNDATION INC.

Totals

Total revenue
$2,254,014
Total expenses
$2,746,552
Contributions and grants received
$1,476,852
Grants paid
$1,296,218
Program service revenue
$0
Investment income
$354,632
Other revenue
$422,530
Total assets, end of year
$24,632,134
Total liabilities, end of year
$1,580,918
Net assets or fund balances, end of year
$23,051,216
Program services expenses (Part IX)
$2,492,232
Management and general expenses
$201,830
Fundraising expenses
$52,490
Program service expenses (Part III)
$2,492,232

Program services were 90.7% 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.

  • 1e · Government grants (contributions)

    $5,000

  • 1f · All other contributions, gifts and grants

    $1,471,852

  • 3 · Investment income

    total $403,960 · excluded $403,960

  • 7a · Gross sales of assets other than inventory

    other assets $423,000

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

    other assets $472,328

  • 7c · Gain or loss

    other assets -$49,328

  • 7d · Net gain or loss

    total -$49,328 · excluded -$49,328

  • 11a · Other revenue: PROPERTY RENTAL

    total $412,467 · related or exempt $412,467

  • 11b · Other revenue: MISCELLANEOUS

    total $10,063 · related or exempt $10,063

  • 11e · Other revenue, total

    $422,530

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,296,218 · program services $1,296,218

  • 12 · Advertising and promotion

    total $5,932 · program services $199 · management and general $4,113 · fundraising $1,620

  • 13 · Office expenses

    total $36,690 · program services $19,461 · management and general $12,740 · fundraising $4,489

  • 16 · Occupancy

    total $96,898 · program services $96,775 · management and general $123

  • 17 · Travel

    total $14,254 · program services $6,494 · management and general $7,760

  • 22 · Depreciation, depletion and amortization

    total $32,615 · program services $30,665 · management and general $1,697 · fundraising $253

  • 23 · Insurance

    total $14,559 · management and general $14,559

  • 24a · Other expenses: OTHER SERVICES

    total $247,412 · program services $194,748 · management and general $37,956 · fundraising $14,708

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $246,697 · program services $246,697

  • 24c · Other expenses: PROFESSIONAL FEES

    total $171,454 · program services $125,327 · management and general $46,127

  • 24d · Other expenses: BANK SERVICE FEES

    total $139,923 · program services $139,923

  • 24e · All other expenses

    total $443,900 · program services $335,725 · management and general $76,755 · fundraising $31,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,328,928 · end of year $1,811,573

  • 4 · Accounts receivable

    beginning of year $34,552 · end of year $30,387

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,744 · end of year $7,495

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

    $2,059,385

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

    $1,304,292

  • 10c · Land, buildings and equipment, net

    beginning of year $787,709 · end of year $755,093

  • 11 · Investments: publicly traded securities

    beginning of year $19,043,273 · end of year $22,024,003

  • 15 · Other assets

    beginning of year $461,558 · end of year $3,583

  • 17 · Accounts payable and accrued expenses

    beginning of year $146,979 · end of year $399,585

  • 19 · Deferred revenue

    beginning of year $78,297 · end of year $364,666

  • 25 · Other liabilities

    beginning of year $746,667 · end of year $816,667

  • 27 · Net assets without donor restrictions

    beginning of year $2,797,141 · end of year $3,366,846

  • 28 · Net assets with donor restrictions

    beginning of year $17,896,680 · end of year $19,684,370

Mission and programs · 2024

Mission

ASSIST SOUTH FLORIDA STATE COLLEGE IN THE DELIVERY OF EDUCATIONAL SERVICES TO THE CITIZENS OF HIGHLANDS, HARDEE, AND DESOTO COUNTIES.

  • SCHOLARSHIPS TO SOUTH FLORIDA STATE COLLEGE STUDENTS AND TAKE STOCK IN CHILDREN SCHOLARSHIPS

    Expenses $2,271,732 · Grants $1,296,218

  • DORMS AND OTHER SERVICES TO SOUTH FLORIDA STATE COLLEGE STUDENTS

    Expenses $220,500

As filed on the 2024 return.

Listed in Part VII

  • JULIE BARBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICK BATEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JUDGE HEATHER BEATO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHERYL BROWN

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • DR CATHERINE P CORNELIUS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DON ELWELL

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • PARKER HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LISA JARRETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DARRELL JENSEN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • FRED HAWKINS JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR GEORGE MOUSA

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • DR VINOD C THAKKAR

    DIRECTOR

    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.

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
2024
Filed
4 June 2025
IRS schema version
2024v5.0
Source object
202511559349300736

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