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Nonprofiteer
← UNIVERSITY OF CENTRAL FLORIDA FOUNDATION INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF CENTRAL FLORIDA FOUNDATION INC.

Totals

Total revenue
$74,529,296
Total expenses
$79,849,683
Contributions and grants received
$60,744,471
Grants paid
$52,595,041
Program service revenue
$1,421,874
Investment income
$6,035,600
Other revenue
$6,327,351
Total assets, end of year
$659,727,218
Total liabilities, end of year
$170,504,617
Net assets or fund balances, end of year
$489,222,601
Program services expenses (Part IX)
$58,321,980
Management and general expenses
$14,316,586
Fundraising expenses
$7,211,117
Program service expenses (Part III)
$58,321,980

Program services were 73.0% 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

    $90,596

  • 1e · Government grants (contributions)

    $12,952,445

  • 1f · All other contributions, gifts and grants

    $47,701,430

  • 1g · Noncash contributions included above

    $149,024

  • 2a · Program service revenue: PROGRAM REVENUES

    total $1,421,874 · related or exempt $1,421,874

  • 3 · Investment income

    total $1,835,307 · unrelated business $243,264 · excluded $1,592,043

  • 5 · Royalties

    total $85,753 · excluded $85,753

  • 6a · Gross rents

    real property $18,373,443

  • 6b · Less rental expenses

    real property $11,851,938

  • 6c · Rental income or loss

    real property $6,521,505

  • 6d · Net rental income or loss

    total $6,521,505 · excluded $6,521,505

  • 7a · Gross sales of assets other than inventory

    securities $23,988,471

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

    securities $19,788,178

  • 7c · Gain or loss

    securities $4,200,293

  • 7d · Net gain or loss

    total $4,200,293 · excluded $4,200,293

  • 8a · Fundraising events: gross income

    $110,794

  • 8a · Fundraising events: contributions included on line 1c

    $90,596

  • 8b · Fundraising events: direct expenses

    $231,912

  • 8c · Net income from fundraising events

    total -$121,118 · excluded -$121,118

  • 10a · Gross sales of inventory

    $183,155

  • 10b · Cost of goods sold

    $363,161

  • 10c · Net income from sales of inventory

    total -$180,006 · unrelated business -$180,006

  • 11a · Other revenue: ADVERTISING REVENUE

    total $20,600 · unrelated business $20,600

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $617 · excluded $617

  • 11e · Other revenue, total

    $21,217

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $52,595,041 · program services $52,595,041

  • 5 · Compensation of officers, directors and key employees

    total $1,713,918 · management and general $827,142 · fundraising $886,776

  • 7 · Other salaries and wages

    total $12,267,707 · program services $3,351,242 · management and general $5,396,616 · fundraising $3,519,849

  • 8 · Pension plan contributions

    total $1,167,477 · program services $109,157 · management and general $530,060 · fundraising $528,260

  • 9 · Other employee benefits

    total $2,265,022 · program services $212,393 · management and general $1,028,140 · fundraising $1,024,489

  • 10 · Payroll taxes

    total $806,557 · program services $75,787 · management and general $366,055 · fundraising $364,715

  • 11b · Fees: legal

    total $2,309 · management and general $2,309

  • 11c · Fees: accounting

    total $84,528 · management and general $84,528

  • 11e · Fees: professional fundraising services

    total $30,357 · fundraising $30,357

  • 11f · Fees: investment management

    total $973,235 · management and general $973,235

  • 11g · Fees: other

    total $2,746,791 · program services $542,801 · management and general $2,088,428 · fundraising $115,562

  • 12 · Advertising and promotion

    total $407,655 · program services $145,236 · management and general $59,230 · fundraising $203,189

  • 13 · Office expenses

    total $222,614 · program services $74,424 · management and general $129,899 · fundraising $18,291

  • 14 · Information technology

    total $1,938,875 · program services $49,435 · management and general $1,825,710 · fundraising $63,730

  • 15 · Royalties

    total $15,611 · program services $15,611

  • 16 · Occupancy

    total $98,441 · program services $49,704 · management and general $28,604 · fundraising $20,133

  • 17 · Travel

    total $457,943 · program services $67,227 · management and general $184,344 · fundraising $206,372

  • 19 · Conferences, conventions and meetings

    total $500 · management and general $500

  • 23 · Insurance

    total $270,559 · program services $3,068 · management and general $267,491

  • 24a · Other expenses: RENTAL, FURNITURE, EQUI

    total $915,091 · program services $700,978 · management and general $180,978 · fundraising $33,135

  • 24b · Other expenses: SPONSORSHIP/MEMBERSHIPS

    total $161,789 · program services $43,472 · management and general $64,967 · fundraising $53,350

  • 24e · All other expenses

    total $707,663 · program services $286,404 · management and general $278,350 · fundraising $142,909

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $600 · end of year $600

  • 2 · Savings and temporary cash investments

    beginning of year $22,933,762 · end of year $23,824,970

  • 3 · Pledges and grants receivable

    beginning of year $45,005,883 · end of year $54,065,309

  • 4 · Accounts receivable

    beginning of year $11,896,547 · end of year $6,598,895

  • 9 · Prepaid expenses and deferred charges

    beginning of year $935,673 · end of year $419,490

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

    $158,750,138

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

    $44,116,196

  • 10c · Land, buildings and equipment, net

    beginning of year $125,959,409 · end of year $114,633,942

  • 11 · Investments: publicly traded securities

    beginning of year $22,740,150 · end of year $25,518,177

  • 12 · Investments: other securities

    beginning of year $302,316,884 · end of year $324,848,922

  • 15 · Other assets

    beginning of year $107,635,095 · end of year $109,816,913

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,613,948 · end of year $7,017,161

  • 19 · Deferred revenue

    beginning of year $551,325 · end of year $193,076

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,192,000 · end of year $8,291,000

  • 23 · Secured mortgages and notes payable

    beginning of year $50,628,000 · end of year $46,960,000

  • 25 · Other liabilities

    beginning of year $105,203,738 · end of year $108,043,380

  • 29 · Capital stock, trust principal or current funds

    beginning of year $243,089,209 · end of year $269,180,086

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

    beginning of year $66,139,409 · end of year $59,382,943

  • 31 · Retained earnings, endowment or other funds

    beginning of year $156,006,374 · end of year $160,659,572

Mission and programs · 2023

Mission

THE UCF FOUNDATION ENCOURAGES, STEWARDS AND CELEBRATES CHARITABLE CONTRIBUTIONS FROM ALUMNI AND FRIENDS TO SUPPORT UNIVERSITY OF CENTRAL FLORIDA (UCF).

Activities or mission (Part I)

TO ENCOURAGE, STEWARD & CELEBRATE CONTRIBUTIONS FROM ALUMNI & FRIENDS TO SUPPORT UCF.

  • ATHLETICS EXPENSES PAID IN SUPPORT OF THE UCF ATHLETICS PROGRAM AND THE CHARGEON FUND PROVIDE STUDENT-ATHLETES WITH CHAMPIONSHIP-CALIBER EXPERIENCES, EMPOWERING THEM TO EXCEL IN COMPETITION, IN THE CLASSROOM, AND IN THE COMMUNITY. FROM ACADEMIC SUPPORT TO WORLD-CLASS TRAINING FACILITIES AND SERVICES, THE KNIGHTS BENEFIT GREATLY FROM PHILANTHROPY. IN FY24 ALONE, TWO SIGNIFICANT ALUMNI GIFTS RESULTED IN AN ADDITIONAL $11.5 MILLION IN CRITICAL FUNDING FOR UCF ATHLETICS AND A NEW 95-ACRE SPACE ON CAMPUS THAT WILL BE DEDICATED TO THE HEALTH AND WELLBEING, ACADEMIC SUCCESS AND PROFESSIONAL DEVELOPMENT OF STUDENT ATHLETES, AS WELL AS ATHLETIC COMPETITION. UCF STUDENT-ATHLETES CONTINUED TO EXCEL IN THEIR ACADEMICS, EXTENDING THEIR RECORD-SETTING STREAK TO 33 CONSECUTIVE SEMESTERS WITH A DEPARTMENT GRADE-POINT AVERAGE OF 3.0 OR BETTER AT THE END OF THE SPRING 2024 SEMESTER INCLUDING 10 STRAIGHT SEMESTERS WITH A 3.3 OR HIGHER MARK. THE KNIGHTS COMPILED A COMBINED 3.42 GPA IN THE SPRING 2024 SEMESTER AND MORE THAN 75% OF STUDENT-ATHLETES POSTED A GPA OF 3.0 OR HIGHER, 63 OF WHICH EARNED A 4.0 GPA.

    Expenses $15,945,955 · Grants $15,513,642 · Revenue $258,157

  • ACADEMIC EXPENSES PAID IN SUPPORT OF THE UCF PROGRAMS FUND ACADEMIC OFFERINGS, SALARIES FOR UNIVERSITY EMPLOYEES AND FELLOWSHIPS TO REWARD SOME OF UCF'S MOST ACCOMPLISHED AND PROMISING STUDENTS. OUTSTANDING FACULTY ARE CRITICAL TO INSTITUTIONAL EXCELLENCE, INSPIRING STUDENTS AND FOSTERING AND ENHANCING STRONG ACADEMIC PROGRAMS. BY FUNDING PRESTIGIOUS ACADEMIC POSITIONS AT THE UNIVERSITY SUCH AS ENDOWED CHAIRS, EMINENT SCHOLAR POSITIONS AND DISTINGUISHED PROFESSORSHIPS, WE RETAIN THE UNIVERSITY'S MOST ESTEEMED FACULTY AND IN TURN, MAINTAIN OUR HIGH ACADEMIC STANDARD. SPENDING TO SUPPORT RESEARCH PROJECTS AND INNOVATIVE PROGRAMS FURTHER ENRICHES THE UCF LEARNING EXPERIENCE. UCF FOUNDATION, INC. RECEIVED $104,403,814 IN GIFTS AND COMMITMENTS IN FY24 FAR EXCEEDING THE GOAL SET BY UNIVERSITY LEADERS. THIS REPRESENTED THE SUPPORT OF MORE THAN 87,000 DONORS WHO GAVE 237,390 GIFTS.

    Expenses $8,709,963 · Grants $8,595,068 · Revenue $703,803

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $6,212,405 · Grants $5,636,063 · Revenue $10

  • OTHER PROGRAM SERVICES DIRECTLY RELATED TO THE FOUNDATION'S MISSION.

    Expenses $27,453,657 · Grants $22,850,268 · Revenue $459,904

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Brian Butler

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Roslyn Burttram

    CO-VICE CHAIR & CHAIR, DONOR ENGAGEMENT & PHILANTH

    Total calculated
    $0
    Hours/week
    1

  • Stuart Heaton

    CO-VICE CHAIR & CHAIR, INVESTMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Eva Tukdarian

    TREASURER & CHAIR, FINANCE & FACILITIES COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Dana Patton

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Carrie Daanen

    IMM. PAST CHAIR & CHAIR, GOV. COMM.

    Total calculated
    $0
    Hours/week
    1

  • Jessica Blume

    CHAIR, AUDIT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Linh Dang

    CHAIR, UCF ALUMNI BOARD EX-OFFICIO MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Johnson

    PROVOST, UCF EX-OFFICIO MEMBER

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • Caryl McAlpin

    TRUSTEE, UCF BOARD OF TRUSTEES EX-OFFICIO MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tandreia Bellamy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clint Bullock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cathy Engelman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Barry Forbes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Harhi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Hinn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Kantor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurette Koellner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Mahony

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurence Chris Marlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marc McMurrin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas McNamara

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dianne Owen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Pigman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Plaumann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Wydra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Roger Zlotoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rodney M Grabowski

    CEO & SENIOR VP FOR ADV. & PART.

    Total calculated
    $563,381
    From this org
    $0
    From related orgs
    $500,393
    Other
    $62,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $490,855 related
    Bonus
    $0 + $9,000 related
    Other
    $0 + $538 related
    Deferred
    $0 + $38,252 related
    Nontaxable benefits
    $0 + $24,736 related
    Filer's total
    $0 + $563,381 related

  • Glen Dawes

    CHIEF FINANCIAL OFFICER (THRU 7/23)

    Total calculated
    $238,522
    From this org
    $0
    From related orgs
    $208,568
    Other
    $29,954
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $150,782 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $55,286 related
    Deferred
    $0 + $14,510 related
    Nontaxable benefits
    $0 + $15,444 related
    Filer's total
    $0 + $238,522 related

  • Rachel Schaefer

    ASSOCIATE VP AND CHIEF OF STAFF

    Total calculated
    $245,934
    From this org
    $0
    From related orgs
    $213,128
    Other
    $32,806
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $212,769 related
    Bonus
    $0
    Other
    $0 + $359 related
    Deferred
    $0 + $20,544 related
    Nontaxable benefits
    $0 + $12,262 related
    Filer's total
    $0 + $245,934 related

  • Gina Sholtis

    SENIOR ASSOCIATE VP FOR DEVELOPMENT

    Total calculated
    $326,426
    From this org
    $0
    From related orgs
    $295,475
    Other
    $30,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $295,082 related
    Bonus
    $0
    Other
    $0 + $393 related
    Deferred
    $0 + $30,818 related
    Nontaxable benefits
    $0 + $133 related
    Filer's total
    $0 + $326,426 related

  • Becky Fullmer

    ASSC. VP FOR OPERATIONS (THRU 5/24)

    Total calculated
    $242,097
    From this org
    $0
    From related orgs
    $211,170
    Other
    $30,927
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $207,811 related
    Bonus
    $0 + $3,000 related
    Other
    $0 + $359 related
    Deferred
    $0 + $20,159 related
    Nontaxable benefits
    $0 + $10,768 related
    Filer's total
    $0 + $242,097 related

  • Charles Roberts

    ASSISTANT VP, COLLEGE OF MEDICINE DEVELOPMENT

    Total calculated
    $269,848
    From this org
    $0
    From related orgs
    $214,598
    Other
    $55,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $211,526 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $572 related
    Deferred
    $0 + $27,887 related
    Nontaxable benefits
    $0 + $27,363 related
    Filer's total
    $0 + $269,848 related

  • Heather Junod

    ASSC VP, ALUMNI ENG. & ANNUAL GIVING

    Total calculated
    $250,265
    From this org
    $0
    From related orgs
    $206,475
    Other
    $43,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $203,437 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $538 related
    Deferred
    $0 + $20,014 related
    Nontaxable benefits
    $0 + $23,776 related
    Filer's total
    $0 + $250,265 related

  • Lori Shuff

    ASST VP, DEV. CORP. FDN. RELATIONS

    Total calculated
    $201,644
    From this org
    $0
    From related orgs
    $174,281
    Other
    $27,363
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $171,243 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $538 related
    Deferred
    $0 + $16,676 related
    Nontaxable benefits
    $0 + $10,687 related
    Filer's total
    $0 + $201,644 related

  • Mark Wright

    ASSC VP, ATHLETICS DEVELOPMENT

    Total calculated
    $345,175
    From this org
    $0
    From related orgs
    $292,298
    Other
    $52,877
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $150,710 related
    Bonus
    $0 + $139,100 related
    Other
    $0 + $2,488 related
    Deferred
    $0 + $28,155 related
    Nontaxable benefits
    $0 + $24,722 related
    Filer's total
    $0 + $345,175 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 · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment

Answered no

  • 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)

PART I, LINE 1A
1. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - FOR VARIOUS UNIVERSITY EMPLOYEES, THE FOUNDATION MADE SUPPLEMENT PAYMENTS CALCULATED ANNUALLY WHICH INCLUDED GROSSED-UP AMOUNTS FOR TAX PURPOSES PER UNIVERSITY POLICY. THE TOTAL GROSSED-UP AMOUNTS WERE INCLUDED IN THE EMPLOYEES' REPORTABLE TAXABLE COMPENSATION. TOTAL GROSSED-UP AMOUNTS IS $70,078. 2. HEALTH OR SOCIAL CLUB DUES - THE FOUNDATION PROVIDES CERTAIN SOCIAL CLUB MEMBERSHIPS FOR FUNDRAISING, DONOR CULTIVATION, OR OTHER BUSINESS PURPOSES. THE PERSONAL PORTION OF THE MEMBERSHIPS IS INCLUDED IN THE INDIVIDUALS' TAXABLE COMPENSATION. TOTAL CLUB DUES PAID WERE $5,527.
PART I, LINE 3
THE FOUNDATION'S CEO'S SALARY IS ESTABLISHED BY UCF BASED ON AN ASSESSMENT OF THE EXTERNAL MARKET FOR COMPARABLE JOBS.
PART I, LINE 4A
THE OUTGOING CHIEF FINANCIAL OFFICER RECEIVED LEAVE PAYOUT, WHICH WAS INCLUDED IN THE OTHER REPORTABLE INCOME. THE ASSOCIATE VP - ATHLETICS DEVELOPMENT, RECEIVED AN INCENTIVE BONUS PAY IN CALENDAR YEAR 2023.

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

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.

  • UNIVERSITY OF CENTRAL FLORIDA

    115(1) · EDUCATION · FL

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202511339349302181

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