Form 990 for tax year 2023
Filed by POLK STATE COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $3,013,309
- Total expenses
- $2,281,741
- Contributions and grants received
- $1,729,978
- Grants paid
- $1,472,648
- Program service revenue
- $0
- Investment income
- $1,400,149
- Other revenue
- -$116,818
- Total assets, end of year
- $45,518,078
- Total liabilities, end of year
- $2,141,237
- Net assets or fund balances, end of year
- $43,376,841
- Program services expenses (Part IX)
- $1,977,023
- Management and general expenses
- $257,393
- Fundraising expenses
- $47,325
- Program service expenses (Part III)
- $1,977,023
Program services were 86.6% 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
$222,814
-
1f · All other contributions, gifts and grants
$1,507,164
-
3 · Investment income
total $1,246,495 · excluded $1,246,495
-
7a · Gross sales of assets other than inventory
securities $3,598,973
-
7b · Less cost or other basis and sales expenses
securities $3,445,319
-
7c · Gain or loss
securities $153,654
-
7d · Net gain or loss
total $153,654 · excluded $153,654
-
8a · Fundraising events: gross income
$90,334
-
8a · Fundraising events: contributions included on line 1c
$222,814
-
8b · Fundraising events: direct expenses
$212,475
-
8c · Net income from fundraising events
total -$122,141 · excluded -$122,141
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $5,323 · excluded $5,323
-
11e · Other revenue, total
$5,323
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,472,648 · program services $1,472,648
-
11c · Fees: accounting
total $31,996 · program services $6,515 · management and general $15,953 · fundraising $9,528
-
11d · Fees: lobbying
total $120,000 · management and general $120,000
-
11f · Fees: investment management
total $97,877 · program services $3,484 · management and general $89,297 · fundraising $5,096
-
11g · Fees: other
total $39,816 · program services $8,106 · management and general $19,852 · fundraising $11,858
-
13 · Office expenses
total $2,003 · program services $1,798 · management and general $205
-
17 · Travel
total $20,942 · program services $5,066 · management and general $3,969 · fundraising $11,907
-
24a · Other expenses: COLLEGE PROGRAM
total $393,845 · program services $393,845
-
24b · Other expenses: OTHER OPERATING EXPENSE
total $87,039 · program services $80,768 · management and general $3,121 · fundraising $3,150
-
24c · Other expenses: ALUMNI PROGRAMS
total $8,498 · program services $1,730 · management and general $4,237 · fundraising $2,531
-
24d · Other expenses: EQUIPMENT AND CONSTRUCT
total $6,195 · program services $2,625 · management and general $315 · fundraising $3,255
-
24e · All other expenses
total $882 · program services $438 · management and general $444
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,309,707 · end of year $4,359,711
-
2 · Savings and temporary cash investments
beginning of year $66,620 · end of year $67,362
-
3 · Pledges and grants receivable
beginning of year $1,611,907 · end of year $1,599,596
-
7 · Other notes and loans receivable
beginning of year $143,305 · end of year $164,676
-
11 · Investments: publicly traded securities
beginning of year $34,363,233 · end of year $38,811,955
-
15 · Other assets
beginning of year $511,096 · end of year $514,778
-
17 · Accounts payable and accrued expenses
beginning of year $815,972 · end of year $2,141,237
-
27 · Net assets without donor restrictions
beginning of year $1,315,720 · end of year $1,425,158
-
28 · Net assets with donor restrictions
beginning of year $37,874,176 · end of year $41,951,683
Mission and programs · 2023
Mission
POLK STATE COLLEGE FOUNDATION WORKS IN TANDEM WITH POLK STATE COLLEGE TO HELP IT MEET ITS HALLMARKS AND COMMITMENT TO THE COMMUNITY OF ACCESS AND AFFORDABILITY TO HIGHER EDUCATION. SEE SCHEDULE O.SCHOLARSHIPS ARE A KEY WAY THE FOUNDATION ACCOMPLISHES THIS AND, AS SUCH, REMAINS THE FOUNDATION'S NUMBER-ONE FUNDRAISING PRIORITY. THE POLK STATE COLLEGE FOUNDATION IS GOVERNED BY A BOARD OF DIRECTORS COMPRISED OF COMMUNITY LEADERS, AS WELL AS A STRONG MANAGEMENT TEAM TO ENSURE THAT DONATIONS ARE WISELY MANAGED AND LEVERAGED TO MAXIMIZE THE BENEFIT TO THE STUDENTS. GIFTS AT EVERY LEVEL ARE APPRECIATED AND TRULY MAKE A DIFFERENCE IN THE LIVES OF POLK STATE STUDENTS. SOME STUDENTS, INDEED, NEED HELP PAYING FOR THE MAJORITY OF THEIR TUITION, WHILE OTHERS SIMPLY NEED HELP WITH THE COST OF A BOOK TO BE ABLE TO AFFORD TAKING A CLASS AT POLK.
Activities or mission (Part I)
POLK STATE COLLEGE FOUNDATION WORKS IN TANDEM WITH POLK STATE COLLEGE TO HELP IT MEET ITS HALLMARKS AND COMMITMENT TO THE COMMUNITY OF ACCESS AND AFFORDABILITY TO HIGHER EDUCATION. SEE SCHEDULE O.
-
THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGH AWARDING MORE THAN $1 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDS ARE DONOR DIRECTED AND HELP LIFT UP STUDENTS THROUGHOUT THE COLLEGE POPULATION. FIRST GENERATION, ALLIED HEALTH, PUBLIC SAFETY, ATHLETICS, THE ARTS AND EMERGENCY SCHOLARSHIPS ARE A FEW EXAMPLES OF DONOR DESIGNATIONS. IN ADDITION TO TRADITIONAL AND NON-TRADITIONAL SCHOLARSHIP AWARDS, THE FOUNDATION HAS A POPULAR ELEMENTARY SCHOLARSHIP PROGRAM, WHERE AT LEAST ONE GRADUATE OF EVERY ELEMENTARY SCHOOL IN POLK COUNTY IS AWARDED A SCHOLARSHIP TO ATTEND POLK STATE UPON GRADUATION FROM HIGH SCHOOL. THE FOUNDATION ALSO HELPS TO ELEVATE THE COLLEGE THROUGH AN ENDOWED TEACHING CHAIR PROGRAM THAT HONORS DISTINGUISHED FACULTY. (CONTINUED ON SCHEDULE O)POLK STATE COLLEGE HAS BEEN FURTHER STRENGTHENED BY DONOR CONTRIBUTIONS TO THE FOUNDATION FOR FACILITIES, EQUIPMENT, PROGRAMS AND TECHNOLOGY.
Expenses $1,977,023 · Grants $1,472,648
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
David FisherDAVID FISHER
CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Bo BoyteBO BOYTE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jennifer HallJENNIFER HALL
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Matt MucciMATT MUCCI
DEVELOPMENT CHAIR/SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Greta DupuyGRETA DUPUY
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Ann BarnhartANN BARNHART
BOARD MEMBER THRU 6/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
Jay BurnsJAY BURNS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Dr Angela FalconettiDR ANGELA FALCONETTI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Jennifer FaskingJENNIFER FASKING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Scott HartSCOTT HART
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Nikki HaydeNIKKI HAYDE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Frank IdrisFRANK IDRIS
BOARD MEMBER AS OF 6/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
Rex JacksonREX JACKSON
BOARD MEMBER THRU 6/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
Bill JacobsBILL JACOBS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Eric JohnsonERIC JOHNSON
BOARD MEMBER THRU 6/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
Jennifer Kincart JonssonJENNIFER KINCART JONSSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Garrett KennyGARRETT KENNY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Michele LedfordMICHELE LEDFORD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Dr Christopher LopezDR CHRISTOPHER LOPEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Beth LucketBETH LUCKET
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Ryan McKellenRYAN MCKELLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Dr Paul MorinDR PAUL MORIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Kathleen MunsonKATHLEEN MUNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Jason PenrodJASON PENROD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Nick PlottNICK PLOTT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Alex PriceALEX PRICE
BOARD MEMBER THRU 6/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
James RingJAMES RING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Christine SamuelCHRISTINE SAMUEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Nikki SmithNIKKI SMITH
BOARD MEMBER AS OF 8/2023
- Total calculated
- $0
- Hours/week
- 0.25
-
Meg ThorntonMEG THORNTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Wendy VentersWENDY VENTERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Vincent KingVINCENT KING
EXECUTIVE OFFICER (THRU 6/2023)
- Total calculated
- $58,173
- From this org
- $0
- From related orgs
- $52,498
- Other
- $5,675
- Hours/week
- 50
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
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.
-
POLK STATE COLLEGE
PUBLIC INSTITUTION THAT EDUCATES AND CREATES · FL
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 21 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202500599349301525
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