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Nonprofiteer
← LAKE SUMTER STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by LAKE SUMTER STATE COLLEGE FOUNDATION INC.

Totals

Total revenue
$3,506,837
Total expenses
$1,916,573
Contributions and grants received
$1,942,342
Grants paid
$1,527,500
Program service revenue
$0
Investment income
$1,387,682
Other revenue
$176,813
Total assets, end of year
$25,955,910
Total liabilities, end of year
$1,437,863
Net assets or fund balances, end of year
$24,518,047
Program services expenses (Part IX)
$1,527,500
Management and general expenses
$379,797
Fundraising expenses
$9,276
Program service expenses (Part III)
$1,527,500

Program services were 79.7% 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.

  • 1c · Fundraising events

    $51,004

  • 1f · All other contributions, gifts and grants

    $1,891,338

  • 3 · Investment income

    total $532,862 · excluded $532,862

  • 7a · Gross sales of assets other than inventory

    securities $10,865,305

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

    securities $10,010,485

  • 7c · Gain or loss

    securities $854,820

  • 7d · Net gain or loss

    total $854,820 · excluded $854,820

  • 8a · Fundraising events: gross income

    $333,292

  • 8a · Fundraising events: contributions included on line 1c

    $51,004

  • 8b · Fundraising events: direct expenses

    $160,065

  • 8c · Net income from fundraising events

    total $173,227 · excluded $173,227

  • 9a · Gaming: gross income

    $3,586

  • 9c · Net income from gaming

    total $3,586 · excluded $3,586

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $453,100 · program services $453,100

  • 2 · Grants to domestic individuals

    total $1,074,400 · program services $1,074,400

  • 11c · Fees: accounting

    total $23,000 · management and general $23,000

  • 11f · Fees: investment management

    total $180,157 · management and general $180,157

  • 11g · Fees: other

    total $27,644 · management and general $27,644

  • 12 · Advertising and promotion

    total $2,267 · management and general $2,267

  • 13 · Office expenses

    total $70,169 · management and general $70,169

  • 17 · Travel

    total $4,237 · management and general $4,237

  • 19 · Conferences, conventions and meetings

    total $3,332 · management and general $3,332

  • 23 · Insurance

    total $1,947 · management and general $1,947

  • 24a · Other expenses: FOOD

    total $28,212 · management and general $28,212

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $15,095 · management and general $15,095

  • 24c · Other expenses: COMMUNITY RELATIONS

    total $12,373 · management and general $12,373

  • 24d · Other expenses: FUNDRAISING

    total $9,276 · fundraising $9,276

  • 24e · All other expenses

    total $11,364 · management and general $11,364

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,999,967 · end of year $1,582,084

  • 3 · Pledges and grants receivable

    beginning of year $15,710 · end of year $20,592

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,270

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

    $13,900

  • 10c · Land, buildings and equipment, net

    beginning of year $13,900 · end of year $13,900

  • 11 · Investments: publicly traded securities

    beginning of year $25,457,338 · end of year $23,162,758

  • 15 · Other assets

    beginning of year $1,513,233 · end of year $1,176,576

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,700 · end of year $242,542

  • 19 · Deferred revenue

    beginning of year $1,538,316 · end of year $1,195,321

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,260,800 · end of year $1,958,921

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $13,900 · end of year $13,900

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,138,702 · end of year $22,545,226

Mission and programs · 2022

Mission

THE LAKE-SUMTER STATE COLLEGE FOUNDATION, INC. IS A DIRECT SUPPORT ORGANIZATION WHOSE MISSION IS TO PROVIDE EXCELLENCE IN EDUCATION, SERVICE TO THE COMMUNITY, AND FINANCIAL ASSISTANCE TO QUALIFIED STUDENTS.

  • THE LAKE-SUMTER STATE COLLEGE FOUNDATION ENABLES AND ENHANCES THE LIVES OF LAKE-SUMTER STATE COLLEGE STUDENTS, FACULTY, AND STAFF THROUGH SCHOLARSHIPS, PROGRAM ENHANCEMENTS, SPECIAL EVENTS, AND FACILITIES SUPPORT. THE FOUNDATION CULTIVATES AND ASSISTS PRIVATE DONORS WHO WISH TO SUPPORT ITS MISSION OF IMPROVING HIGHER EDUCATION IN OUR LOCAL COMMUNITY.

    Expenses $1,527,500 · Grants $1,527,500

As filed on the 2022 return.

Listed in Part VII

  • DR HEATHER BIGARD

    LSSC PRES (F

    Total calculated
    $311,924
    From this org
    $0
    From related orgs
    $245,796
    Other
    $66,128
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $216,058 related
    Bonus
    not reported + $1,500 related
    Other
    not reported + $28,238 related
    Deferred
    not reported + $57,750 related
    Nontaxable benefits
    not reported + $8,378 related
    Filer's total
    not reported + $311,924 related

  • DR LAURA BYRD

    EXEC DIRECTO

    Total calculated
    $172,239
    From this org
    $0
    From related orgs
    $155,945
    Other
    $16,294
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $144,000 related
    Bonus
    not reported + $1,500 related
    Other
    not reported + $10,445 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $16,294 related
    Filer's total
    not reported + $172,239 related

  • SANDRA STEPHENSON

    VICE PRESIDE

    Total calculated
    $95,657
    From this org
    $0
    From related orgs
    $95,657
    Other
    $0
    Hours/week
    2 + 40 related

  • ALISSA SUSTARSIC

    FACULTY LIAI

    Total calculated
    $67,631
    From this org
    $0
    From related orgs
    $58,740
    Other
    $8,891
    Hours/week
    2 + 40 related

  • DR STANLEY SIDOR

    LSSC PRESIDE

    Total calculated
    $17,923
    From this org
    $0
    From related orgs
    $17,583
    Other
    $340
    Hours/week
    2 + 40 related

  • KARINA ACEVEDO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MARILYN BUDZYNSKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • NANCY CLUTTS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LORI DAVIS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JENNA EMERSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SHERIFF WILLIAM FARMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • GRANT GANNAWAY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JOSH GONZALES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DAVID LANGLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KIMBERLY LARGEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER MENDEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MICHELLE MICHNOFF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • GREG MORRELL

    PRESIDENT EL

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY MORRIS

    TRUSTEE LIAS

    Total calculated
    $0
    Hours/week
    2

  • SHERI OLSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SHAHANAZ RAHAMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LESLIE ROTARIUS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL STIMSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SARAH UHRIK

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • DANIEL WHITEHOUSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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

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 October 2023
IRS schema version
2022v5.0
Source object
202303389349300305

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