← NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by NEW COLLEGE OF FLORIDA DEVELOPMENT CORPORATION.

Totals

Total revenue: $624,030
Total expenses: $626,522
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $624,030
Investment income: $0
Other revenue: $0
Total assets, end of year: $18,348,879
Total liabilities, end of year: $18,072,606
Net assets or fund balances, end of year: $276,273
Program services expenses (Part IX): $602,382
Management and general expenses: $24,140
Fundraising expenses: $0
Program service expenses (Part III): $602,382

Program services were 96.1% 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 $624,030 · related or exempt $624,030
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $16,000 · management and general $16,000
11f · Fees: investment management

total $8,000 · management and general $8,000
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $599,890 · program services $599,890
22 · Depreciation, depletion and amortization

total $2,492 · program services $2,492
24a · Other expenses: MISCELLANEOUS

total $140 · management and general $140
24e · All other expenses

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$0
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $19,473,161 · end of year $18,348,879
17 · Accounts payable and accrued expenses

beginning of year $158,715 · end of year $149,433
20 · Tax-exempt bond liabilities

beginning of year $19,035,681 · end of year $17,923,173
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
28 · Net assets with donor restrictions

beginning of year $278,765 · end of year $276,273

Mission and programs · 2024

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 $602,382 · Revenue $624,030

As filed on the 2024 return.

Listed in Part VII

Christaldi Ron

Vice Chair

Total calculated

$0

Hours/week

0.2
Richard Corcoran

Chair

Total calculated

$1,106,537

From this org

$0

From related orgs

$1,048,891

Other

$57,646

Hours/week

0.2 + 40 related

Schedule J breakdown matched by us

Base

$0 + $699,000 related

Bonus

$0 + $200,000 related

Other

$0 + $149,891 related

Deferred

$0 + $35,850 related

Nontaxable benefits

$0 + $21,796 related

Filer's total

$0 + $1,106,537 related
Shippee Melissa

Secretary/Treasurer

Total calculated

$240,211

From this org

$0

From related orgs

$181,415

Other

$58,796

Hours/week

3.8 + 40 related

Schedule J breakdown matched by us

Base

$0 + $177,485 related

Bonus

$0

Other

$0 + $3,930 related

Deferred

$0 + $37,000 related

Nontaxable benefits

$0 + $21,796 related

Filer's total

$0 + $240,211 related
Gruters Sydney

Director

Total calculated

$201,000

From this org

$0

From related orgs

$201,000

Other

$0

Hours/week

0.2 + 40 related

Schedule J breakdown matched by us

Base

$0 + $201,000 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $201,000 related
McDonald James

Director

Total calculated

$0

Hours/week

0.2
Rancourt David

Director

Total calculated

$201,000

From this org

$0

From related orgs

$201,000

Other

$0

Hours/week

0.2 + 40 related

Schedule J breakdown matched by us

Base

$0 + $201,000 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $201,000 related
Fitz-Patrick Christie

Executive Director

Total calculated

$247,004

From this org

$0

From related orgs

$206,708

Other

$40,296

Hours/week

0.2 + 40 related

Schedule J breakdown matched by us

Base

$0 + $201,000 related

Bonus

$0

Other

$0 + $5,708 related

Deferred

$0 + $18,500 related

Nontaxable benefits

$0 + $21,796 related

Filer's total

$0 + $247,004 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

1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Written employment contract
3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use: Housing allowance provided per terms of board approved employment contract.

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.

NEW COLLEGE OF FLORIDA

115 · State University · FL

Directly controlled by NA
NEW COLLEGE FOUNDATION INC

501(c)(3) · SUPPORT NEW COLLEGE OF FLORIDA · FL

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2024
Filed: 25 November 2025
IRS schema version: 2024v5.1
Source object: 202513299349300131

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