Civic Intelligence

New College Foundation Inc

EIN 59-0911744 • 501(c)3 • Sarasota, FL

Profile

The mission of new college foundation is to support the priorities of new college of florida, florida's designated honors college. This is accomplished by securing funds as a result of cultivating and stewarding individuals, foundations, and corporations and through the prudent management of assets.

5800 Bay Shore RoadSarasota, FL 34243-2109

www.ncf.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

14th percentile

0.02x

Higher debt load relative to assets than 14% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

16th percentile

0.07x

Higher debt load relative to revenue than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

93rd percentile

65%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

56th percentile

7.9%

Faster asset growth than 56% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2025

Revenue Growth

92nd percentile

73%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2025

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$57,947,210

Up $7,883,084 (+16%) from 2024

Liabilities

Down

$1,023,154

Down $53,684 (-5.0%) from 2024

Net Assets

Up

$56,924,056

Up $7,936,768 (+16%) from 2024

Operations
Liabilities / Revenue16th percentileNet Margin93rd percentile

Revenue

Up

$14,077,675

Up $12,070,321 (+601%) from 2024

Expenses

Down

$4,901,556

Down $59,730 (-1.2%) from 2024

Net Income

Up

$9,176,119

Up $12,130,051 (+411%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth56th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2011: $48,696,182Liabilities 2011: $13,551,469Net Assets 2011: $35,144,7132011Assets 2012: $50,026,355Liabilities 2012: $15,239,658Net Assets 2012: $34,786,6972012Assets 2013: $41,292,602Liabilities 2013: $3,125,424Net Assets 2013: $38,167,1782013Assets 2014: $46,654,676Liabilities 2014: $3,936,500Net Assets 2014: $42,718,1762014Assets 2015: $48,203,032Liabilities 2015: $3,729,173Net Assets 2015: $44,473,8592015Assets 2016: $43,383,232Liabilities 2016: $385,270Net Assets 2016: $42,997,9622016Assets 2017: $46,351,261Liabilities 2017: $975,547Net Assets 2017: $45,375,7142017Assets 2018: $47,004,392Liabilities 2018: $1,070,829Net Assets 2018: $45,933,5632018Assets 2019: $48,454,962Liabilities 2019: $2,047,416Net Assets 2019: $46,407,5462019Assets 2020: $45,849,740Liabilities 2020: $2,317,691Net Assets 2020: $43,532,0492020Assets 2021: $57,816,203Liabilities 2021: $2,531,896Net Assets 2021: $55,284,3072021Assets 2022: $47,981,303Liabilities 2022: $2,501,181Net Assets 2022: $45,480,1222022Assets 2023: $49,806,812Liabilities 2023: $1,742,599Net Assets 2023: $48,064,2132023Assets 2024: $50,064,126Liabilities 2024: $1,076,838Net Assets 2024: $48,987,2882024Assets 2025: $57,947,210Liabilities 2025: $1,023,154Net Assets 2025: $56,924,0562025

Highlighted filing

2025

Assets$57,947,210
Liabilities$1,023,154
Net Assets$56,924,056
Open 2025 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2011: $3,351,4822011Revenue 2012: $8,158,202Expenses 2012: $3,917,961Net Income 2012: $4,240,2412012Expenses 2013: $2,779,5752013Revenue 2014: $5,199,550Expenses 2014: $3,207,609Net Income 2014: $1,991,9412014Revenue 2015: $7,147,014Expenses 2015: $3,235,519Net Income 2015: $3,911,4952015Revenue 2016: $3,943,421Expenses 2016: $3,369,920Net Income 2016: $573,5012016Revenue 2017: $4,257,205Expenses 2017: $3,904,827Net Income 2017: $352,3782017Revenue 2018: $4,464,704Expenses 2018: $3,902,280Net Income 2018: $562,4242018Revenue 2019: $7,542,357Expenses 2019: $4,343,070Net Income 2019: $3,199,2872019Revenue 2020: $2,384,120Expenses 2020: $3,899,793Net Income 2020: -$1,515,6732020Revenue 2021: $13,139,360Expenses 2021: $4,529,307Net Income 2021: $8,610,0532021Revenue 2022: $4,354,121Expenses 2022: $5,329,272Net Income 2022: -$975,1512022Revenue 2023: $4,698,283Expenses 2023: $5,938,762Net Income 2023: -$1,240,4792023Revenue 2024: $2,007,354Expenses 2024: $4,961,286Net Income 2024: -$2,953,9322024Revenue 2025: $14,077,675Expenses 2025: $4,901,556Net Income 2025: $9,176,1192025

Highlighted filing

2025

Revenue$14,077,675
Expenses$4,901,556
Net Income$9,176,119
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$57,947,210
Liabilities
$1,023,154
Net assets
$56,924,056
Revenue
$14,077,675
Expenses
$4,901,556
Net income
$9,176,119
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$57.9$1.02$56.9$14.1$4.90$9.18
2024Detailed filing. Detailed filing data is available for this year.$50.1$1.08$49.0$2.01$4.96$2.95
2023Detailed filing. Detailed filing data is available for this year.$49.8$1.74$48.1$4.70$5.94$1.24
2022Detailed filing. Detailed filing data is available for this year.$48.0$2.50$45.5$4.35$5.33$0.98
2021Detailed filing. Detailed filing data is available for this year.$57.8$2.53$55.3$13.1$4.53$8.61
2020Detailed filing. Detailed filing data is available for this year.$45.8$2.32$43.5$2.38$3.90$1.52
2019Detailed filing. Detailed filing data is available for this year.$48.5$2.05$46.4$7.54$4.34$3.20
2018Detailed filing. Detailed filing data is available for this year.$47.0$1.07$45.9$4.46$3.90$0.56
2017Detailed filing. Detailed filing data is available for this year.$46.4$0.98$45.4$4.26$3.90$0.35
2016Detailed filing. Detailed filing data is available for this year.$43.4$0.39$43.0$3.94$3.37$0.57
2015Detailed filing. Detailed filing data is available for this year.$48.2$3.73$44.5$7.15$3.24$3.91
2014Detailed filing. Detailed filing data is available for this year.$46.7$3.94$42.7$5.20$3.21$1.99
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.3$3.13$38.2$2.78
2012Summary only. Only limited summary data is available for this year.$50.0$15.2$34.8$8.16$3.92$4.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.7$13.6$35.1$3.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 11, 2025
Return Version
2024v5.1
Gross Receipts
$47,554,257
Mission and Program Overview

Mission

The mission of the new college foundation is to support the priorities of new college of florida, florida's designated honors college. This is accomplished by securing funds as a result of cultivating and stewarding individuals, foundations and corporations and through the prudent management of assets.

To support the priorities of New College of Florida by cultivating and stewarding donors and managing assets.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$38,601,001$50,522,962▲ $11,921,961
Investments Other Securities$5,925,926--
Savings and Temporary Cash Investments$3,266,706$5,869,977▲ $2,603,271
Land, Buildings, and Equipment, Net$1,055,899$1,009,681▼ $46,218
Cash and Non-Interest-Bearing Accounts$1,048,922$421,170▼ $627,752
Pledges and Grants Receivable$81,015$78,962▼ $2,053
Prepaid Expenses and Deferred Charges$84,657$44,458▼ $40,199
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$50,064,126$57,947,210▲ $7,883,084
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$190,611$401,558▲ $210,947
Mortgage Notes Payable Secured by Investment Property$312,960$304,234▼ $8,726
Deferred Revenue$477,336$221,504▼ $255,832
Other Liabilities$95,931$95,858▼ $73
Total Liabilities$1,076,838$1,023,154▼ $53,684
Net Assets / Fund Balance
Net Assets With Donor Restrictions$47,213,454$54,943,861▲ $7,730,407
Net Assets Without Donor Restrictions$1,773,834$1,980,195▲ $206,361
Total Net Assets Fund Balance$48,987,288$56,924,056▲ $7,936,768
Total Liabilities and Net Assets / Fund Balance$50,064,126$57,947,210▲ $7,883,084

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$570,036$950,575$1,520,611
Land$421,832-$421,832
Equipment$17,813$114,266$132,079

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$44,526,927$200,100▲ $9,323,506$3,527,571$50,522,962
2023$42,430,336$552,100▲ $3,215,264$1,670,773$44,526,927
2022$39,606,063$1,142,107▲ $5,256,792$3,574,626$42,430,336
2021$48,533,782$42,825▼ $5,123,300$3,847,244$39,606,063
2020$38,330,041$459,195▲ $12,925,370$3,180,824$48,533,782
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sydney GrutersNCF Executive DirectorFT$201,000$69,385$270,385

Board Members and Trustees

NameTitle
Adam KendallChair
James McDonaldVice Chair
Alicja AJ JansonDirector
Brian McCarthyDirector
David SmithDirector
Debra JenksDirector
Dr Lance KarpDirector
Elizabeth MooreDirector
Eric RobinsonDirector
Greg DouglasDirector
Joshua IngramDirector
Mary GratehouseDirector
Mike RahnDirector
Rob BilottDirector
Stuart ClarryDirector
JJ Fermin MirandaSecretary
Christie Fitz-PatrickTreasurer; Chief of Staff New College

Highest Paid Contractors

ContractorServicesLocationCompensation
Sarasota Restaurant Enterprises Inc dba Michael's on EastCatering1212 East Ave S, Sarasota, FL 34239$135,867
Ballard Partners IncLobbying and Public Affairs201 East Park Avenue 5th Fl, Tallahassee, FL 32301$120,000
Oak Strategies LLCLobbying and public affairs1845 East Parkway Suite 6, Fleming Island, FL 32003$120,000
Capital City Consulting LLCLobbying and public affairs101 E College Ave Suite 502, Tallahassee, FL 32301$110,504
Revenue and Support

Revenue Composition

Contributions and Grants
$5,757,511
Program Service Revenue
$3,500
Investment Income
$8,313,578
Other Revenue
$3,086
All Other Contributions
$5,379,437
Change in Net Assets
$9,176,119

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table12$35,852Market value
Works of Art2$9,500Market value
Total Noncash Contributions14$45,352-

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,746,038
Revenue Not Reported on Financial Statements
$331,637
Revenue Not Reported on Form 990
$-83,697
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$13,662,341
Total Revenue per Form 990
$14,077,675
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,108,611
Other Expenses$1,343,479
Salaries, Compensation, and Employee Benefits$449,466
Total Fundraising Expense$231,185
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,108,611--$3,108,611
Fees for Services Lobbying$418,960--$418,960
Fees for Service Investment Mgmnt Fees-$331,637-$331,637
Current Officers, Directors, Trustees, and Key Employees$151,046$85,982$47,885$284,913
Other Salaries and Wages$110,213$21,647$32,693$164,553
Advertising$101,675$44,301$456$146,432
Fees for Services Other$0$11,580$100,642$112,222
Information Technology$8,578$17,961$43,400$69,939
Depreciation Depletion-$60,460-$60,460
Office Expenses$1,693$34,699$3,630$40,022
Fees for Services Accounting-$32,000-$32,000
Insurance$6,807$23,116-$29,923
Other Expenses$22,014$3,501$2,408$27,923
Occupancy$14,680$12,642-$27,322
Fees for Services Legal-$14,968-$14,968
Conferences and Meetings$8,793$5,922$71$14,786
Interest$14,100--$14,100
Travel$2,035$750-$2,785
Total Functional Expenses$3,969,205$701,166$231,185$4,901,556

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,725,573
Total Expenses per Form 990$4,901,556
Expenses per Audited Statements$4,569,919
Expenses Not Reported on Form 990$1,155,654
Expenses Not Reported on Financial Statements$331,637
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New College of FloridaSarasota, FLGovtTo support New College of Florida via scholarships, education programs, and faculty training$3,108,611
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$208,994
Fundraising Gross Income$203,037
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Clambake$365,933$139,887$45,545$94,342
Socratic$91,392$55,571$6,144$49,427
Total Events$581,111$203,037$208,994$-5,957
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held on Behalf of Others$74,081
Federal Income Taxes$21,777
Liabilities Under Trust Agreements-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B Review of form 990 by governing body

“The annual audit was conducted by an independent cpa firm. The firm presented the audit report to the audit committee and provided the opportunity for feedback and questions with committee members. The audit committee voted to recommend the audit to the full board. The audit was presented to the full board and a motion was made and approved to approve the audit and to file the 990 based on the audited financial data. The 990 is reviewed and approved by the chair of the new college foundation board of directors.”

Form 990, Part VI, Line 12C Conflict of interest policy

“A new conflict of interest statement is required to be completed and signed by all board members annually. These forms are available for review upon request of the chair of the board of directors.”

Form 990, Part VI, Line 15A Process to establish compensation of top management official

“The compensation of the executive director is reviewed and recommended by the president of new college of florida. Compensation of other officers and key employees of the organization are reviewed and recommended by the executive director and approved by the president of the college. In both cases, comparative data, state of florida salary guidelines, and industry standards are used in the decision-making process.”

Form 990, Part VI, Line 15B Process to establish compensation of other employees

“Compensation of other officers and key employees of the organization are reviewed and recommended by the executive director and approved by the president of the college. In both cases, comparative data, state of florida salary guidelines, and industry standards are used in the decision-making process.”

Form 990, Part VI, Line 19 Required documents available to the public

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
New College Foundation Inc
EIN
59-0911744
Phone
9414874801
Address
5800 Bay Shore Road, Sarasota, FL 34243-2109

Signing Officer

Name
Sydney Gruters
Title
Executive Director
Phone
9414874672
Signed
2025-12-11
Discuss with paid preparer
Yes

Organization Details

Formed
1960
Legal Domicile
Fl
Voting Board Members
17
Independent Board Members
16
Employees
10
Volunteers
16

Preparer

Firm
Mauldin & Jenkins LLC
Address
1401 Manatee Avenue West Suite 1200, Bradenton, FL 34205
Preparer
Brian Carter
Phone
9417474483
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 DESCRIPTION OF ORGANIZATION MISSION

“To support the priorities of new college of florida by cultivating and stewarding donors and managing assets.”

Form 990, Part III, Line 1 DESCRIPTION OF ORGANIZATION MISSION

“The mission of new college foundation is to support the priorities of new college of florida, florida's designated honors college. This is accomplished by securing funds as a result of cultivating and stewarding individuals, foundations, and corporations and through the prudent management of assets.”

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“CHANGE IN VALUE OF TRUST AGREEMENTS - -30508; Total - -30508;”

Form 990, Part XII, Line 2C Change of oversight process or selection process

“The audit committee reviewed and approved the draft audit and recommended for full board approval prior to issuance.”

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

“The foundation's endowment funds are to benefit new college of florida.”

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“The Foundation is generally exempt from federal income and state income taxes under Section 501(c)(3) of the Internal Revenue Code and comparable state law. The Foundation is required to pay income taxes on the excess of revenues derived from activities unrelated to the tax exempt purpose of the Foundation over the related expenses.”

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

“Change in value of Trust Annuity - -30508 Special event expenses - 208994”

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

“Special event expenses - 208994”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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