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Nonprofiteer
← GULF COAST COMMUNITY FOUNDATION INC

Form 990 for tax year 2022

Filed by GULF COAST COMMUNITY FOUNDATION INC.

Totals

Total revenue
$51,082,837
Total expenses
$50,505,292
Contributions and grants received
$44,055,440
Grants paid
$39,755,288
Program service revenue
$3,907,688
Investment income
$3,180,698
Other revenue
-$60,989
Total assets, end of year
$443,953,807
Total liabilities, end of year
$27,047,531
Net assets or fund balances, end of year
$416,906,276
Program services expenses (Part IX)
$41,078,577
Management and general expenses
$7,775,365
Fundraising expenses
$1,651,350
Program service expenses (Part III)
$41,078,577

Program services were 81.3% 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.

  • 1d · Related organizations

    $12,874

  • 1f · All other contributions, gifts and grants

    $44,042,566

  • 1g · Noncash contributions included above

    $17,078,664

  • 2a · Program service revenue: FUND INV MGMT FEE INCOME

    total $3,907,688 · related or exempt $3,907,688

  • 3 · Investment income

    total $7,180,161 · excluded $7,180,161

  • 7a · Gross sales of assets other than inventory

    securities $169,163,522 · other assets $14

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

    securities $173,162,999 · other assets $0

  • 7c · Gain or loss

    securities -$3,999,477 · other assets $14

  • 7d · Net gain or loss

    total -$3,999,463 · unrelated business $14 · excluded -$3,999,477

  • 11a · Other revenue: UBTI PARTNERSHIPS

    total -$60,989 · unrelated business -$60,989

  • 11e · Other revenue, total

    -$60,989

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $39,034,433 · program services $39,034,433

  • 2 · Grants to domestic individuals

    total $720,855 · program services $720,855

  • 5 · Compensation of officers, directors and key employees

    total $1,469,069 · program services $444,269 · management and general $535,268 · fundraising $489,532

  • 7 · Other salaries and wages

    total $955,357 · program services $288,915 · management and general $348,092 · fundraising $318,350

  • 8 · Pension plan contributions

    total $242,769 · program services $73,417 · management and general $88,455 · fundraising $80,897

  • 9 · Other employee benefits

    total $308,160 · program services $93,192 · management and general $112,281 · fundraising $102,687

  • 10 · Payroll taxes

    total $206,305 · program services $62,390 · management and general $75,169 · fundraising $68,746

  • 11a · Fees: management

    total $3,907,260 · management and general $3,907,260

  • 11b · Fees: legal

    total $166,419 · program services $44,273 · management and general $62,264 · fundraising $59,882

  • 11c · Fees: accounting

    total $57,419 · management and general $57,419

  • 11f · Fees: investment management

    total $2,052,611 · management and general $2,052,611

  • 11g · Fees: other

    total $43,709 · program services $4,109 · management and general $34,042 · fundraising $5,558

  • 12 · Advertising and promotion

    total $82,661 · program services $14,754 · fundraising $67,907

  • 13 · Office expenses

    total $81,580 · program services $18,041 · management and general $25,373 · fundraising $38,166

  • 14 · Information technology

    total $192,719 · program services $50,525 · management and general $71,056 · fundraising $71,138

  • 16 · Occupancy

    total $121,403 · program services $32,297 · management and general $45,422 · fundraising $43,684

  • 17 · Travel

    total $36,143 · program services $10,930 · management and general $13,169 · fundraising $12,044

  • 19 · Conferences, conventions and meetings

    total $135,559 · program services $15,544 · management and general $66,040 · fundraising $53,975

  • 20 · Interest

    total $48,867 · program services $13,000 · management and general $18,283 · fundraising $17,584

  • 22 · Depreciation, depletion and amortization

    total $211,254 · program services $56,201 · management and general $79,038 · fundraising $76,015

  • 23 · Insurance

    total $87,004 · program services $23,222 · management and general $32,531 · fundraising $31,251

  • 24a · Other expenses: RECRUITING

    total $166,535 · program services $44,304 · management and general $62,307 · fundraising $59,924

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $69,901 · program services $18,125 · management and general $27,260 · fundraising $24,516

  • 24c · Other expenses: EMPLOYEE TRAINING & APP

    total $40,443 · program services $10,759 · management and general $15,131 · fundraising $14,553

  • 24d · Other expenses: BANK FEES

    total $33,708 · management and general $33,708

  • 24e · All other expenses

    total $33,149 · program services $5,022 · management and general $13,186 · fundraising $14,941

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,364,070 · end of year $3,471,868

  • 2 · Savings and temporary cash investments

    beginning of year $6,541,318 · end of year $6,627,317

  • 4 · Accounts receivable

    beginning of year $203,138 · end of year $170,146

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,211 · end of year $16,211

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

    $4,536,811

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

    $1,806,643

  • 10c · Land, buildings and equipment, net

    beginning of year $2,649,318 · end of year $2,730,168

  • 11 · Investments: publicly traded securities

    beginning of year $335,865,475 · end of year $380,931,973

  • 12 · Investments: other securities

    beginning of year $61,429,969 · end of year $50,006,124

  • 17 · Accounts payable and accrued expenses

    beginning of year $330,610 · end of year $331,352

  • 18 · Grants payable

    beginning of year $3,317,698 · end of year $2,681,670

  • 23 · Secured mortgages and notes payable

    beginning of year $1,702,908 · end of year $1,632,725

  • 25 · Other liabilities

    beginning of year $24,446,225 · end of year $22,401,784

  • 27 · Net assets without donor restrictions

    beginning of year $370,630,216 · end of year $406,449,616

  • 28 · Net assets with donor restrictions

    beginning of year $10,641,842 · end of year $10,456,660

Mission and programs · 2022

Mission

TOGETHER WITH OUR DONORS, WE TRANSFORM OUR REGION THROUGH BOLD AND PROACTIVE PHILANTHROPY.

  • IN ITS ROLE AS A REGIONAL LEADER, GULF COAST COMMUNITY FOUNDATION IDENTIFIES PRIORITY ISSUES THROUGH QUANTITATIVE AND QUALITATIVE RESEARCH, CREATES AND FUNDS CATALYTIC COMMUNITY INITIATIVES THAT TARGET THOSE PRIORITIES, AND ALSO CONNECTS DONORS TO THESE ISSUES AND OTHER CHARITABLE CAUSES THEY CARE ABOUT. GULF COAST'S INITIATIVES TYPICALLY INVOLVE CROSS-SECTOR COLLABORATION AND LEVERAGE ADDITIONAL PHILANTHROPIC FUNDING FROM WITHIN AND BEYOND OUR REGION. INITIATIVES IN WHICH GULF COAST AND OUR DONORS INVESTED THIS YEAR INCLUDED:1) RESPONDING TO THE LONG-TERM RECOVERY NEEDS OF THOSE IN OUR REGION WHO WERE MOST IMPACTED BY HURRICANE IAN. 2) CONVENING STAKEHOLDERS TO BUILD A SYSTEM OF ACCESSIBLE, INTEGRATED, AND TRAUMA-INFORMED SERVICES AND FAMILY SUPPORTS TO MEET THE MENTAL HEALTH NEEDS OF CHILDREN, YOUTH, AND YOUNG ADULTS IN SARASOTA COUNTY.3) CONVENING, LEADING, AND FUNDING STRATEGIC PROJECTS TO IMPROVE ENVIRONMENTAL QUALITY IN THE GULF COAST REGION AND EDUCATE CITIZENS ON THE BENEFITS OF A HEALTHY ENVIRONMENT.4) INVESTING IN SUSTAINABLE REDEVELOPMENT OF THE SARASOTA BAYFRONT THROUGH THE PUBLIC-PRIVATE PARTNERSHIP CREATING THE BAY PARK.5) IMPROVING AND BETTER COORDINATING SERVICES FOR CHRONICALLY HOMELESS ADULTS AND UNACCOMPANIED HOMELESS YOUTH IN SARASOTA COUNTY.6) STRENGTHENING THE BOARD GOVERNANCE AND OPERATIONAL EFFECTIVENESS OF NONPROFIT ORGANIZATIONS THROUGHOUT OUR REGION (INVEST IN INCREDIBLE).7) HELPING FIRST GRADERS IN SARASOTA COUNTY SCHOOLS WHO STRUGGLE THE MOST WITH READING AND WRITING THROUGH INTENSIVE LITERACY INTERVENTION (READING RECOVERY).8) ADVOCATING FOR THE ADOPTION AND IMPLEMENTATION OF THE CURRENT RECOMMENDATIONS OF SARASOTA COUNTY'S AFFORDABLE HOUSING ADVISORY COMMITTEE, PARTICULARLY EXPLORING THE CREATION OF A LOCAL AFFORDABLE HOUSING TRUST FUND. GULF COAST ALSO FUNDS A VARIETY OF GRANTS TO SUPPORT THE WORK OF NONPROFIT ORGANIZATIONS IN THE REGION. GRANT PROGRAMS INCLUDE LEVERAGED GRANTS, WHICH FUND COLLABORATIVE PROJECTS AND PROGRAMS THAT TARGET REGIONAL PRIORITIES IN MEASURABLE WAYS; COMMUNITY GRANTS, WHICH FUND SMALLER PROJECTS AND NEEDS AT REGIONAL NONPROFIT ORGANIZATIONS THAT CAN HAVE SIGNIFICANT IMPACT IN THE COMMUNITY; AND ARTS APPRECIATION GRANTS, WHICH PROVIDE UNRESTRICTED FUNDING TO CORNERSTONE ARTS AND CULTURAL ORGANIZATIONS IN THE REGION.

    Expenses $41,078,577 · Grants $39,755,288 · Revenue $3,907,688

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Phillip P Lanham

    PRESIDENT/CEO

    Total calculated
    $0
    Hours/week
    50

  • Mark Pritchett

    FORMER PRESIDENT/CEO

    Total calculated
    $347,950
    From this org
    $326,714
    From related orgs
    $0
    Other
    $21,236
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $279,414
    Bonus
    $25,000
    Other
    $22,300
    Deferred
    $12,069
    Nontaxable benefits
    $9,167
    Filer's total
    $347,950

  • Chris Stobaugh

    CFO

    Total calculated
    $240,990
    From this org
    $229,423
    From related orgs
    $0
    Other
    $11,567
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $204,502
    Bonus
    $16,000
    Other
    $8,921
    Deferred
    $8,537
    Nontaxable benefits
    $3,030
    Filer's total
    $240,990

  • Veronica Thames

    COO

    Total calculated
    $259,363
    From this org
    $247,312
    From related orgs
    $0
    Other
    $12,051
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $218,391
    Bonus
    $20,000
    Other
    $8,921
    Deferred
    $9,092
    Nontaxable benefits
    $2,959
    Filer's total
    $259,363

  • Kristin Prince

    SECRETARY

    Total calculated
    $91,155
    From this org
    $64,616
    From related orgs
    $0
    Other
    $26,539
    Hours/week
    40

  • Jon Thaxton

    SENIOR VP FOR COMMUNITY IN

    Total calculated
    $277,517
    From this org
    $247,686
    From related orgs
    $0
    Other
    $29,831
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $225,886
    Bonus
    $20,000
    Other
    $1,800
    Deferred
    $9,107
    Nontaxable benefits
    $20,724
    Filer's total
    $277,517

  • Kristin M Fulkerson

    SENIOR VP FOR PHILANTHROPY

    Total calculated
    $211,609
    From this org
    $186,710
    From related orgs
    $0
    Other
    $24,899
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $164,910
    Bonus
    $20,000
    Other
    $1,800
    Deferred
    $6,668
    Nontaxable benefits
    $18,231
    Filer's total
    $211,609

  • David Sessions

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Anand Pallegar

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anne Essner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frank Martucci

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Giglio

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pete Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Soderberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ping Faulhaber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rod Hershberger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rose-Anne Frano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Sofia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracy Knight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • THE VENICE ENDOWMENT INC

    501(C)(3) · SUPPORT GULF COAST COMMUNITY FOUNDATION · FL

    Directly controlled by GULF COAST COMMUNITY FOUNDATION INC

  • GULF COAST STRATEGIC INVESTMENTS INC

    501(C)(3) · HOLD COMPLEX ASSETS TO SUPPORT GULF COAST COMMUNITY FOUNDATION · FL

    Directly controlled by GULF COAST COMMUNITY FOUNDATION INC

  • S & G MOORE FAMILY FOUNDATIONS INC

    501(C)(3) · CARRY OUT THE CHARITABLE PURPOSE OF GULF COAST COMMUNITY FOUNDATION · FL

    Directly controlled by GULF COAST COMMUNITY FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
27 February 2024
IRS schema version
2022v5.0
Source object
202430589349300038

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