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Nonprofiteer
← USF FINANCING CORPORATION

Form 990 for tax year 2023

Filed by USF FINANCING CORPORATION.

Totals

Total revenue
$25,584,748
Total expenses
$23,560,796
Contributions and grants received
$0
Grants paid
$0
Program services expenses (Part IX)
$20,786,200
Management and general expenses
$2,774,596
Fundraising expenses
$0
Program service expenses (Part III)
$20,786,200

Program services were 88.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • LINDA O SIMMONS

    DIRECTOR, CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ERIN S AEBEL

    DIRECTOR, SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOSE E VALIENTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ANDREW J MAYTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RHEA F LAW

    DIRECTOR, USF PRESIDENT

    Total calculated
    $1,210,986
    From this org
    $0
    From related orgs
    $1,057,950
    Other
    $153,036
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $640,177 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $117,773 related
    Deferred
    $0 + $152,731 related
    Nontaxable benefits
    $0 + $305 related
    Filer's total
    $0 + $1,210,986 related

  • JENNIFER CONDON

    DIRECTOR, USF CFO (BEG OCT 2023)

    Total calculated
    $328,625
    From this org
    $0
    From related orgs
    $292,528
    Other
    $36,097
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,508 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $1,020 related
    Deferred
    $0 + $14,329 related
    Nontaxable benefits
    $0 + $21,768 related
    Filer's total
    $0 + $328,625 related

  • RICHARD J SOBIERAY

    DIR,USF SVP BUS/FIN(THRU OCT 2023)

    Total calculated
    $644,807
    From this org
    $0
    From related orgs
    $608,736
    Other
    $36,071
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $507,716 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $1,020 related
    Deferred
    $0 + $14,209 related
    Nontaxable benefits
    $0 + $21,862 related
    Filer's total
    $0 + $644,807 related

  • FELL L STUBBS

    SPEC ADV, EXEC DIR(THRU MARCH 2024)

    Total calculated
    $262,479
    From this org
    $0
    From related orgs
    $228,284
    Other
    $34,195
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,784 related
    Bonus
    $0 + $7,500 related
    Other
    $0
    Deferred
    $0 + $14,339 related
    Nontaxable benefits
    $0 + $19,856 related
    Filer's total
    $0 + $262,479 related

  • HILARY BLACK

    ASST. SECRETARY

    Total calculated
    $244,822
    From this org
    $0
    From related orgs
    $214,206
    Other
    $30,616
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,206 related
    Bonus
    $0 + $12,000 related
    Other
    $0
    Deferred
    $0 + $10,760 related
    Nontaxable benefits
    $0 + $19,856 related
    Filer's total
    $0 + $244,822 related

  • DAWN M RODRIGUEZ

    EXECUTIVE DIRECTOR (BEG MARCH 2024)

    Total calculated
    $145,185
    From this org
    $0
    From related orgs
    $126,187
    Other
    $18,998
    Hours/week
    10 + 30 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 — 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
USF FINANCING CORPORATION RELIES ON A RELATED ORGANIZATION TO ESTABLISH TOP MANAGEMENT OFFICIAL COMPENSATION. THE RELATED ORGANIZATION, UNIVERSITY OF SOUTH FLORIDA, HAS A COMPENSATION COMMITTEE THAT REVIEWS AND APPROVES THE COMPENSATION OF USF FINANCING CORPORATIONS' EXECUTIVE DIRECTOR. ADDITIONALLY, UNIVERSITY OF SOUTH FLORIDA USES AN INDEPENDENT COMPENSATION CONSULTANT, FORMS 990 OF OTHER ORGANIZATIONS, AND COMPENSATION SURVEYS/STUDIES TO DETERMINE COMPENSATION.
PART I, LINE 4B
THE INDIVIDUALS LISTED BELOW PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. DURING CALENDAR YEAR 2023, CONTRIBUTIONS RELATED TO SUCH PLANS WERE MADE FOR THE FOLLOWING INDIVIDUALS. THESE AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C: RHEA LAW - $131,000 THERE WERE NO DISTRIBUTIONS OUT OF SUCH PLANS DURING 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202541349349312394

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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