Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $249,318

• 1f · All other contributions, gifts and grants

  $4,810,011

• 1g · Noncash contributions included above

  $10,257

• 3 · Investment income

  total $1,313,785 · excluded $1,313,785

• 7a · Gross sales of assets other than inventory

  securities $25,116,131

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

  securities $23,381,388

• 7c · Gain or loss

  securities $1,734,743

• 7d · Net gain or loss

  total $1,734,743 · related or exempt $1,734,743

• 8a · Fundraising events: gross income

  $135,730

• 8b · Fundraising events: direct expenses

  $191,150

• 8c · Net income from fundraising events

  total -$55,420

• 11a · Other revenue: MISC. REVENUE

  total $2,370 · related or exempt $2,370

• 11e · Other revenue, total

  $2,370

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,060,095 · program services $2,060,095

• 11c · Fees: accounting

  total $32,500 · management and general $32,500

• 11f · Fees: investment management

  total $99,928 · program services $20,220 · management and general $79,708

• 11g · Fees: other

  total $223,563 · management and general $223,563

• 12 · Advertising and promotion

  total $261,713 · program services $31,804 · management and general $229,909

• 13 · Office expenses

  total $37,462 · program services $521 · management and general $36,941

• 14 · Information technology

  total $94,059 · program services $91 · management and general $93,968

• 17 · Travel

  total $53,363 · program services $20,961 · management and general $32,402

• 19 · Conferences, conventions and meetings

  total $3,200 · management and general $3,200

• 24a · Other expenses: BUILDING CONS. ASSISTANCE

  total $8,584,470 · program services $8,584,470

• 24b · Other expenses: EDUCATIONAL MATERIALS & S

  total $406,716 · program services $406,716

• 24c · Other expenses: PAYMENTS TO PALM BEACH ST

  total $324,083 · program services $324,083

• 24d · Other expenses: COMMUNITY RELATIONS

  total $303,497 · program services $293,473 · management and general $10,024

• 24e · All other expenses

  total $923,066 · program services $741,859 · management and general $143,351 · fundraising $37,856

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,884,715 · end of year $2,114,860

• 3 · Pledges and grants receivable

  beginning of year $3,976,815 · end of year $3,578,560

• 4 · Accounts receivable

  beginning of year $195,710 · end of year $392,465

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

  $31,770

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

  $31,770

• 11 · Investments: publicly traded securities

  beginning of year $45,069,559 · end of year $46,470,284

• 15 · Other assets

  beginning of year $64,610 · end of year $56,182

• 17 · Accounts payable and accrued expenses

  beginning of year $1,475,003 · end of year $420,447

• 25 · Other liabilities

  beginning of year $486,794 · end of year $482,873

• 27 · Net assets without donor restrictions

  beginning of year $11,556,739 · end of year $5,683,123

• 28 · Net assets with donor restrictions

  beginning of year $41,672,873 · end of year $46,025,908

The filer's explanations (Part III)

SCHEDULE J, PART III

PALM BEACH STATE COLLEGE FOUNDATION, INC. RELIED ON THE RELATED ORGANIZATION'S, PALM BEACH STATE COLLEGE, METHODS TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION.