Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: STUDENT FEES

  total $24,902,011 · related or exempt $24,902,011

• 2b · Program service revenue: INFORMATION TECHNOLOGY FEE

  total $44,966 · related or exempt $44,966

• 3 · Investment income

  total $27,186 · excluded $27,186

• 11a · Other revenue: REIMBURSEMENTS

  total $13,459 · related or exempt $13,459

• 11e · Other revenue, total

  $13,459

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $118,500 · program services $118,500

• 3 · Grants to foreign organizations and individuals

  total $17,084,607 · program services $17,084,607

• 11c · Fees: accounting

  total $35,100 · management and general $35,100

• 11g · Fees: other

  total $632,307 · program services $632,307

• 12 · Advertising and promotion

  total $26,386 · program services $26,386

• 13 · Office expenses

  total $63,410 · program services $56,604 · management and general $6,806

• 16 · Occupancy

  total $389,552 · program services $389,552

• 17 · Travel

  total $119,962 · program services $110,556 · management and general $9,406

• 19 · Conferences, conventions and meetings

  total $20,353 · management and general $20,353

• 22 · Depreciation, depletion and amortization

  total $193,974 · program services $193,974

• 23 · Insurance

  total $30,699 · program services $30,699

• 24a · Other expenses: SOCIAL/CULTURE EXPENSES

  total $156,990 · program services $156,990

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,609,129 · end of year $12,403,386

• 2 · Savings and temporary cash investments

  beginning of year $4,485,724 · end of year $14,752,083

• 4 · Accounts receivable

  beginning of year $2,853 · end of year $148,197

• 7 · Other notes and loans receivable

  beginning of year $7,204,998 · end of year $7,154,559

• 9 · Prepaid expenses and deferred charges

  beginning of year $18,834 · end of year $19,727

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

  $10,629,301

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

  $8,929,835

• 10c · Land, buildings and equipment, net

  beginning of year $1,893,440 · end of year $1,699,466

• 15 · Other assets

  beginning of year $4,900,056 · end of year $2,776

• 17 · Accounts payable and accrued expenses

  beginning of year $4,861 · end of year $46,763

• 19 · Deferred revenue

  beginning of year $1,000 · end of year $22,945

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

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

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $29,109,173 · end of year $36,110,486

The filer's explanations (Part III)

PART I, LINE 3

THE DIRECTOR OF FSUIPA, INC. IS PAID BY THE FLORIDA STATE UNIVERSITY AND THAT COMPENSATION IS DETERMINED BY THE UNIVERSITY BASED ON THE EMPLOYMENT CONTRACT AND ANNUAL REVIEWS.

PART III - ADDITIONAL INFORMATION

THROUGH THE RELATED ORGANIZATION THAT EMPLOYS THEM, THE INDIVIDUALS REPORTED IN PART VII OF FORM 990 AND IN THE SCHEDULE J (FORM 990) GENERALLY PARTICIPATE IN THE FLORIDA RETIRMENT SYSTEM (FRS), A MULTI-EMPLOYER RETIREMENT SYSTEM CREATED UNDER CHAPTER 121 OF THE FLORIDA STATUTES AND ADMINISTERED BY THE FLORIDA DIVISION OF RETIREMENT, AS STATED ON THE WEBSITE OF FRS, IT IS FUNDED BY CONTRIBUTIONS PAID BY EMPLOYERS AND EMPLOYEES BASED ON A PERCENTAGE OF THE EMPLOYEES' SALARIES. THE RATE OF CONTRIBUTIONS REQUIRED IS DETERMINED BY AN ACTUARIAL CONSULTING FIRM TO ASSURE COMPLIANCE WITH THE REQUIREMENT OF THE CONSTITUTION OF THE STATE OF FLORIDA. EMPLOYEES' CONTRIBUTION ARE 3% WITH THE EMPLOYER CONTRIBUTING THE REQUIRED BALANCE. THE INSTRUCTIONS OF FORM 990 INDICATE THAT PART VII AND SCHEDULE J SHOULD INCLUDE A REASONABLE ESTIMATE OF THE INCREASE IN THE ACTUARIAL VALUE OF ANY QUALIFIED OR NONQUALIFIED RETIREMENT ACCRUALS UNDER A DEFINED BENEFIT PLAN. FRS HAS STATED THAT SUCH INFORMATION CURRENTLY IS NOT AVAILABLE FOR PARTICIPANTS IN ITS PLAN, THEREFORE, THE AMOUNTS REPORTED IN PART VII AND SCHEDULE J, AS APPROPRIATE, INCLUDE THE CONTRIBUTION PAID BY THE RELATED ORGANIZATION AS ITS CONTRIBUTION ON BEHALF OF THE NAMED INDIVIDUAL. THIS AMOUNT IS CONSIDERED THE BEST REASONABLE ESTIMATE OF INFORMATION REQUIRED IN THIS FORM 990 AND RELATED SCHEDULES.