Civic Intelligence

Florida Polytechnic University Foundation Inc.

990 • Fiscal year 2019 • EIN 46-1426289

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 06, 2020

4700 Research WayLakeland, FL 33805

(863) 874-8416

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.41x

Higher debt load relative to assets than 72% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

3.31x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

8th percentile

-34%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

23rd percentile

-3.1%

Faster asset growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-50%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$6,869,877

Down $221,455 (-3.1%) from 2018

Net Assets

Up

$4,086,288

Up $5,114,435 (+497%) from 2018

Liabilities

Down

$2,783,589

Down $5,335,890 (-66%) from 2018

Revenue

Down

$841,356

Down $830,122 (-50%) from 2018

Expenses

Down

$1,131,151

Down $920,375 (-45%) from 2018

Net Income

Up

-$289,795

Up $90,253 (+24%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0-$5.0MAssets 2013: $5,281,817Liabilities 2013: $7,604Net Assets 2013: $5,274,2132013Assets 2014: $7,117,652Liabilities 2014: $4,638,340Net Assets 2014: $2,479,3122014Assets 2015: $5,255,665Liabilities 2015: $2,979,055Net Assets 2015: $2,276,6102015Assets 2016: $7,771,292Liabilities 2016: $4,284,176Net Assets 2016: $3,487,1162016Assets 2017: $8,107,054Liabilities 2017: $8,859,115Net Assets 2017: -$752,0612017Assets 2018: $7,091,332Liabilities 2018: $8,119,479Net Assets 2018: -$1,028,1472018Assets 2019: $6,869,877Liabilities 2019: $2,783,589Net Assets 2019: $4,086,2882019Assets 2020: $6,935,899Liabilities 2020: $3,105,631Net Assets 2020: $3,830,2682020Assets 2021: $8,498,685Liabilities 2021: $2,777,616Net Assets 2021: $5,721,0692021Assets 2022: $9,127,094Liabilities 2022: $2,782,144Net Assets 2022: $6,344,9502022Assets 2023: $13,652,470Liabilities 2023: $2,289,258Net Assets 2023: $11,363,2122023

Highlighted filing

2019

Assets$6,869,877
Liabilities$2,783,589
Net Assets$4,086,288

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2013: $5,274,213Expenses 2013: $0Net Income 2013: $5,274,2132013Revenue 2014: $1,762,324Expenses 2014: $4,557,225Net Income 2014: -$2,794,9012014Revenue 2015: $3,104,007Expenses 2015: $3,298,857Net Income 2015: -$194,8502015Revenue 2016: $4,197,952Expenses 2016: $3,326,611Net Income 2016: $871,3412016Revenue 2017: $1,146,276Expenses 2017: $5,444,677Net Income 2017: -$4,298,4012017Revenue 2018: $1,671,478Expenses 2018: $2,051,526Net Income 2018: -$380,0482018Revenue 2019: $841,356Expenses 2019: $1,131,151Net Income 2019: -$289,7952019Revenue 2020: $775,918Expenses 2020: $1,010,137Net Income 2020: -$234,2192020Revenue 2021: $2,248,809Expenses 2021: $1,041,082Net Income 2021: $1,207,7272021Revenue 2022: $3,454,708Expenses 2022: $1,295,679Net Income 2022: $2,159,0292022Revenue 2023: $6,503,828Expenses 2023: $1,403,994Net Income 2023: $5,099,8342023

Highlighted filing

2019

Revenue$841,356
Expenses$1,131,151
Net Income-$289,795
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 6, 2020
Return Version
2018v3.1
Gross Receipts
$986,721
Mission and Program Overview

Mission

Established to help sustain the mission of florida polytechnic university to educate students emphasizing science, technology, engineering and mathematics (stem) in an innovative, technology-rich, and interdisciplinary learning environment.

Established to help sustain the mission of florida polytechnic university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,741,157$6,032,750▲ $291,593
Cash and Non-Interest-Bearing Accounts$503,197$534,401▲ $31,204
Pledges and Grants Receivable$846,978$294,189▼ $552,789
Total Assets$7,091,332$6,869,877▼ $221,455
Other Assets Total$0$8,537▲ $8,537
Liabilities
Unsecured Notes Loans Payable$4,110,797--
Deferred Revenue$2,750,000$2,773,376▲ $23,376
Accounts Payable and Accrued Expenses$7,756$7,149▼ $607
Other Liabilities$1,250,926$3,064▼ $1,247,862
Total Liabilities$8,119,479$2,783,589▼ $5,335,890
Net Assets / Fund Balance
Unrestricted Net Assets$-2,927,057$1,448,123▲ $4,375,180
Permanently Rstr Net Assets$1,198,847$1,422,338▲ $223,491
Temporarily Rstr Net Assets$700,063$1,215,827▲ $515,764
Total Net Assets Fund Balance$-1,028,147$4,086,288▲ $5,114,435
Total Liabilities and Net Assets / Fund Balance$7,091,332$6,869,877▼ $221,455
Compensation and Service Providers

Employees

NameTitleOtherTotal
Derek HortonTreasurer$147,962$147,962

Board Members and Trustees

NameTitle
Alice HuntChair
Randy AventPresident/CEO Feb - June
Jack HarrellVice Chair
Blake PaulDirector
Cindy AlexanderDirector
Cliff OttoDirector
Donna SlysterDirector
Dr Sigo ParekattilDirector
Ford HeacockDirector
Gregory FancelliDirector
IVETTE O'DOSKIDirector
Joshua MccoyDirector
Kathryn MizereckDirector
Lauren SchwenkDirector
Loretta SandersDirector
MARLENE O'TOOLEDirector
Michael LawleyDirector
Phillipa GreenbergDirector
Ralph AllenDirector
Rob KincartDirector
Seretha TinsleyDirector
Shelley RobinsonDirector
Todd BaylisDirector
Vic StoryDirector
Kevin AspegrenCEO July - Feb
Revenue and Support

Revenue Composition

Contributions and Grants
$558,999
Program Service Revenue
$0
Investment Income
$303,757
Other Revenue
$-21,400
All Other Contributions
$400,729
Change in Net Assets
$-289,795

Audited Revenue Reconciliation

Revenue per Audited Statements
$986,721
Revenue Not Reported on Financial Statements
$-145,365
Revenue Not Reported on Form 990
$5,850
Other Revenue Adjustments
$-145,365
Total Revenue per Audited Statements
$992,571
Total Revenue per Form 990
$841,356
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$688,579
Other Expenses$399,425
Total Fundraising Expense$75,232
Salaries, Compensation, and Employee Benefits$43,147
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$688,579--$688,579
Fees for Services Lobbying$183,160--$183,160
Conferences and Meetings$56,203$43,924$27,570$127,697
Other Salaries and Wages-$43,147-$43,147
Depreciation Depletion--$31,741$31,741
Fees for Services Accounting-$17,800-$17,800
Travel-$9,549$2,927$12,476
All Other Expenses$4,213-$4,339$8,552
Fees for Services Other--$5,133$5,133
Insurance--$2,429$2,429
Other Expenses-$2,200-$2,200
Information Technology-$1,949-$1,949
Office Expenses-$244$853$1,097
Occupancy--$240$240
Total Functional Expenses$932,155$123,764$75,232$1,131,151

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,276,516
Expenses per Audited Statements$1,131,151
Total Expenses per Form 990$1,131,151
Expenses Not Reported on Form 990$145,365
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Florida Polytechnic UniversityLakeland, FLState of FloridaStudent Scholarships and University Salaries$688,579
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$145,365
Fundraising Gross Income$123,580
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pivot 2019$281,850$123,580$21,375$102,205
Total Events$281,850$123,580$145,365$-21,785
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Florida Polytechnic University$3,064
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A complete copy of the 990 is provided to every member of the board of directors for review prior to being filed with the irs.

Form 990, Part VI, Section B, Line 12C

In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest and all material facts to the directors and members of committees with board-delegated powers considering the proposed transactions or arrangement. The remaining board or committee members shall decide whether a conflict of interest exists. An interested person may make a presentation at the board or committee meeting, but after such presentation, he or she shall be invited and allowed (but not required) to leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. The chair of the board or the committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether the foundation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors or members in attendance whether to enter into the transaction despite the conflict of interest.

Form 990, Part VI, Section C, Line 19

The organization makes its government documents, conflict of interest policy, and financial statements available upon request

Filing and Contact Details

Filer

Filer Name
Florida Polytechnic University
EIN
46-1426289
Phone
8638748416
Address
4700 RESEARCH WAY, LAKELAND, FL 33805

Signing Officer

Name
Kathleen Bowman
Title
Chief Executive Officer
Phone
8638748416
Signed
2020-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Bowman
Formed
2012
Legal Domicile
Fl
Voting Board Members
22
Independent Board Members
21
Employees
0
Volunteers
23

Preparer

Firm
Cliftonlarsonallen Llp
Address
402 SOUTH KENTUCKY AVENUE SUITE 600, LAKELAND, FL 33801-5354
Preparer
Lauren Ballard CPA
Phone
8636805600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Write off of uncollectible pledges -18,827. Gain on forgiveness of pledge liability 5,718,582.

Financial Statement Notes

PART X, LINE 2:

The foundation adopted the income tax standard for uncertain tax positions on january 1, 2009. As a result of the implementation, the foundation determined there were no uncertain tax position for which either recognition or disclosure is required in the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Write off of uncollectible pledges -18,827.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Direct fundraising event expenses -145,365.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising event expenses 145,365.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt23121195
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt24253854
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt25709365
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt24CEO JULY - FEB
IRS990/Form990PartVIISectionAGrp/TitleTxt25PRESIDENT/CEO FEB - JUNE
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02012
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt0158270
IRS990/FundraisingDirectExpensesAmt0145365
IRS990/FundraisingGrossIncomeAmt0123580
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt022
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0688579
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
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IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/IndependentVotingMemberCnt021
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt01949
IRS990/InformationTechnologyGrp/TotalAmt01949
IRS990/InsuranceGrp/FundraisingAmt02429
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0303757
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ESTABLISHED TO HELP SUSTAIN THE MISSION OF FLORIDA POLYTECHNIC UNIVERSITY TO EDUCATE STUDENTS EMPHASIZING SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM) IN AN INNOVATIVE, TECHNOLOGY-RICH, AND INTERDISCIPLINARY LEARNING ENVIRONMENT.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0244
IRS990/OfficeExpensesGrp/TotalAmt01097
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt08537
IRS990/OtherChangesInNetAssetsAmt05699755
IRS990/OtherExpensesGrp/Desc0DUES AND MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc1STATE REGISTRATION FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12200
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IRS990/OtherExpensesGrp/TotalAmt12200
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0294189
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IRS990/PYInvestmentIncomeAmt0217361
IRS990/PYOtherExpensesAmt0468779
IRS990/PYOtherRevenueAmt0-32615
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-380048
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02051526
IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2018 AMOUNT: $ 385.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0558999
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01486732
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01157618
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04289043
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03030406
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010522798
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0303757
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0217361
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt094649
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt071610
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0114768

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