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Nonprofiteer
← NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION.

Totals

Total revenue
$672,660
Total expenses
$675,152
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$672,660
Investment income
$0
Other revenue
$0
Total assets, end of year
$19,473,161
Total liabilities, end of year
$19,194,396
Net assets or fund balances, end of year
$278,765
Program services expenses (Part IX)
$639,512
Management and general expenses
$35,640
Fundraising expenses
$0
Program service expenses (Part III)
$639,512

Program services were 94.7% 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.

  • 2a · Program service revenue: HOUSING OPERATIONS

    total $672,660 · related or exempt $672,660

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $15,500 · management and general $15,500

  • 11f · Fees: investment management

    total $20,000 · management and general $20,000

  • 20 · Interest

    total $637,020 · program services $637,020

  • 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 $20,547,028 · end of year $19,473,161

  • 17 · Accounts payable and accrued expenses

    beginning of year $167,582 · end of year $158,715

  • 20 · Tax-exempt bond liabilities

    beginning of year $20,098,189 · end of year $19,035,681

  • 28 · Net assets with donor restrictions

    beginning of year $281,257 · end of year $278,765

Mission and programs · 2023

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 $639,512 · Revenue $672,660

As filed on the 2023 return.

Listed in Part VII

  • Richard Corcoran

    CHAIR

    Total calculated
    $695,387
    From this org
    $0
    From related orgs
    $675,575
    Other
    $19,812
    Hours/week
    0.19 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $578,019 related
    Bonus
    $0
    Other
    $0 + $97,556 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $19,812 related
    Filer's total
    $0 + $695,387 related

  • Melissa Shippee

    SECRETARY/TREASURER

    Total calculated
    $213,391
    From this org
    $0
    From related orgs
    $161,154
    Other
    $52,237
    Hours/week
    3.85 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,154 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $31,074 related
    Nontaxable benefits
    $0 + $21,163 related
    Filer's total
    $0 + $213,391 related

  • David Rancourt

    DIRECTOR

    Total calculated
    $74,423
    From this org
    $0
    From related orgs
    $74,423
    Other
    $0
    Hours/week
    0.19 + 40 related

  • Sydney Gruters

    DIRECTOR

    Total calculated
    $130,885
    From this org
    $0
    From related orgs
    $130,885
    Other
    $0
    Hours/week
    0.19 + 40 related

  • Ron Christaldi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.19

  • Christie Fitz-Patrick

    EXECUTIVE DIRECTOR

    Total calculated
    $235,303
    From this org
    $0
    From related orgs
    $195,940
    Other
    $39,363
    Hours/week
    0.19 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,940 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,200 related
    Nontaxable benefits
    $0 + $21,163 related
    Filer's total
    $0 + $235,303 related

  • Christian Kinsley

    FORMER DIRECTOR

    Total calculated
    $235,690
    From this org
    $0
    From related orgs
    $190,777
    Other
    $44,913
    Hours/week
    0.77 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,777 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,300 related
    Nontaxable benefits
    $0 + $21,613 related
    Filer's total
    $0 + $235,690 related

  • Brad Theissen

    FORMER DIRECTOR

    Total calculated
    $306,531
    From this org
    $0
    From related orgs
    $250,539
    Other
    $55,992
    Hours/week
    0.19 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,539 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $22,500 related
    Nontaxable benefits
    $0 + $33,492 related
    Filer's total
    $0 + $306,531 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
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202422789349301802

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