Civic Intelligence

The Palm Beach State College Fdn Inc.

990 • Fiscal year 2015 • EIN 59-1818556

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 15, 2016

Organization ProfileWWW.PALMBEACHSTATE.EDU/FOUNDATION
4200 Congress AvenueLake Worth, FL 33461

(561) 868-3572

Siviq Scores

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

Liabilities / Assets

10th percentile

0.01x

Higher debt load relative to assets than 10% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

13th percentile

0.06x

Higher debt load relative to revenue than 13% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

87th percentile

38%

Higher net margin than 87% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

32nd percentile

$180,600

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

48th percentile

1.2%

Faster asset growth than 48% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

36th percentile

0.1%

Faster revenue growth than 36% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$33,022,262

Up $393,300 (+1.2%) from 2014

Net Assets

Up

$32,720,136

Up $374,952 (+1.2%) from 2014

Liabilities

Up

$302,126

Up $18,348 (+6.5%) from 2014

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin87th percentile

Revenue

Up

$4,748,358

Up $3,676 (+0.1%) from 2014

Expenses

Up

$2,948,879

Up $197,940 (+7.2%) from 2014

Net Income

Down

$1,799,479

Down $194,264 (-9.7%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$80M$60M$40M$20M$0Assets 2010: $25,089,113Liabilities 2010: $572,829Net Assets 2010: $24,516,2842010Assets 2011: $26,995,339Liabilities 2011: $418,284Net Assets 2011: $26,577,0552011Assets 2012: $27,868,867Liabilities 2012: $114,854Net Assets 2012: $27,754,0132012Assets 2013: $31,833,537Liabilities 2013: $163,216Net Assets 2013: $31,670,3212013Assets 2014: $32,628,962Liabilities 2014: $283,778Net Assets 2014: $32,345,1842014Assets 2015: $33,022,262Liabilities 2015: $302,126Net Assets 2015: $32,720,1362015Assets 2016: $34,531,577Liabilities 2016: $1,047,277Net Assets 2016: $33,484,3002016Assets 2017: $37,757,380Liabilities 2017: $1,114,826Net Assets 2017: $36,642,5542017Assets 2018: $35,537,623Liabilities 2018: $1,692,295Net Assets 2018: $33,845,3282018Assets 2019: $42,362,896Liabilities 2019: $1,289,989Net Assets 2019: $41,072,9072019Assets 2020: $55,851,195Liabilities 2020: $1,703,769Net Assets 2020: $54,147,4262020Assets 2021: $61,549,766Liabilities 2021: $868,587Net Assets 2021: $60,681,1792021Assets 2022: $55,191,409Liabilities 2022: $1,961,797Net Assets 2022: $53,229,6122022Assets 2023: $52,612,351Liabilities 2023: $903,320Net Assets 2023: $51,709,0312023Assets 2024: $62,029,100Liabilities 2024: $861,271Net Assets 2024: $61,167,8292024

Highlighted filing

2015

Assets$33,022,262
Liabilities$302,126
Net Assets$32,720,136
Open 2015 Filing

Operations Trend

Revenue Growth36th percentile

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

$15M$10M$5.0M$0-$5.0M-$10MExpenses 2010: $6,119,1932010Expenses 2011: $5,921,4772011Expenses 2012: $5,561,3362012Revenue 2013: $4,366,739Expenses 2013: $2,576,569Net Income 2013: $1,790,1702013Revenue 2014: $4,744,682Expenses 2014: $2,750,939Net Income 2014: $1,993,7432014Revenue 2015: $4,748,358Expenses 2015: $2,948,879Net Income 2015: $1,799,4792015Revenue 2016: $3,678,789Expenses 2016: $3,212,498Net Income 2016: $466,2912016Revenue 2017: $3,743,508Expenses 2017: $3,382,238Net Income 2017: $361,2702017Revenue 2018: $4,389,728Expenses 2018: $3,671,719Net Income 2018: $718,0092018Revenue 2019: $6,496,502Expenses 2019: $3,479,797Net Income 2019: $3,016,7052019Revenue 2020: $13,934,356Expenses 2020: $3,376,456Net Income 2020: $10,557,9002020Revenue 2021: $7,498,508Expenses 2021: $2,846,933Net Income 2021: $4,651,5752021Revenue 2022: $6,305,304Expenses 2022: $4,338,465Net Income 2022: $1,966,8392022Revenue 2023: $8,054,807Expenses 2023: $13,407,715Net Income 2023: -$5,352,9082023Revenue 2024: $13,477,680Expenses 2024: $7,191,664Net Income 2024: $6,286,0162024

Highlighted filing

2015

Revenue$4,748,358
Expenses$2,948,879
Net Income$1,799,479
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 15, 2016
Return Version
2015v2.1
Gross Receipts
$13,721,303
Mission and Program Overview

Mission

To encourage, solicit, receive, and administer philanthropic gifts for the advancement of palm beach state college and its objectives of maintaining open access to higher education at affordable costs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$30,189,584$28,795,638▼ $1,393,946
Cash and Non-Interest-Bearing Accounts$2,269,591$2,998,355▲ $728,764
Pledges and Grants Receivable$124,820$1,162,824▲ $1,038,004
Prepaid Expenses and Deferred Charges$33,667$44,995▲ $11,328
Accounts Receivable$300$9,450▲ $9,150
Total Assets$32,628,962$33,022,262▲ $393,300
Other Assets Total$11,000$11,000→ $0
Liabilities
Other Liabilities$235,315$224,030▼ $11,285
Accounts Payable and Accrued Expenses$48,463$78,096▲ $29,633
Total Liabilities$283,778$302,126▲ $18,348
Net Assets / Fund Balance
Permanently Rstr Net Assets$18,198,492$18,270,602▲ $72,110
Temporarily Rstr Net Assets$12,234,329$12,510,358▲ $276,029
Unrestricted Net Assets$1,912,363$1,939,176▲ $26,813
Total Net Assets Fund Balance$32,345,184$32,720,136▲ $374,952
Total Liabilities and Net Assets / Fund Balance$32,628,962$33,022,262▲ $393,300

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$31,770$31,770

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$26,436,647$391,669-$449,658$25,566,533
2014$26,130,331$1,499,264-$489,417$26,436,647
2013$23,646,171$3,515,902-$406,717$26,130,331
2012$22,508,165$2,133,424-$365,908$23,646,171
2011$21,250,045$2,091,388-$318,809$22,508,165
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Suellen MannExecutive DiFT$6,000$121,255$127,255

Board Members and Trustees

NameTitle
George GentileChair
Ava L ParkerPresident
Ricky WadeVice Chair
Antoinette TheodossakosDirector
Ashley Tullos TrippDirector
Brent FykesDirector
Cory RamselDirector
Dennis KanaiDirector
Don LanmanDirector
Elizabeth HammaDirector
George ElmoreDirector
Mark HansenDirector
Stephen S Mathison EsqDirector
Steve CohenDirector
Vicki ChourisDirector
Yvonne BoiceDirector
Charles K CrossDbot Represe
Richard BeckerEx-officio
David D DuncanFaculty Rep
Noel GuillamaImmediate Pa
Trish LowrySecretary
David J BaldeoStudent Rep
William GreenmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,651,137
Program Service Revenue
$0
Investment Income
$1,867,504
Other Revenue
$229,717
All Other Contributions
$2,587,177
Change in Net Assets
$1,799,479

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,748,358
Revenue Not Reported on Form 990
$-963,060
Total Revenue per Audited Statements
$3,785,298
Total Revenue per Form 990
$4,748,358
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,531,912
Other Expenses$1,410,967
Total Fundraising Expense$240,181
Salaries, Compensation, and Employee Benefits$6,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,531,912--$1,531,912
All Other Expenses$184,801$91,372-$276,173
Fees for Service Investment Mgmnt Fees$114,306$40,528-$154,834
Other Expenses$55,656$40,621$227,838$96,277
Fees for Services Legal-$27,951-$27,951
Fees for Services Accounting-$26,000-$26,000
Advertising$19,815$153-$19,968
Information Technology-$19,360-$19,360
Fees for Services Other-$1,750$11,913$13,663
Travel$11,284$1,520-$12,804
Office Expenses$3,778$7,491$430$11,699
Other Salaries and Wages-$6,000-$6,000
Conferences and Meetings-$2,860-$2,860
Insurance-$1,627-$1,627
Total Functional Expenses$2,441,465$267,233$240,181$2,948,879

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,410,346
Expenses per Audited Statements$2,948,879
Total Expenses per Form 990$2,948,879
Expenses Not Reported on Form 990$461,467
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$229,613
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$229,613$229,613-$229,613
Total Events$229,613$229,613-$229,613
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$203,830
Unearned Revenues$20,200
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft of the information return is provided electronically to the board for review prior to filing. Written copies are provided upon request.”

Form 990, Page 6, Part VI, Line 12C

“The organization annually sends a copy of the conflict of interest to its board members. All members are to review, detail any potential conflicts, and sign-off on the policy.”

Form 990, Page 6, Part VI, Line 15A

“Paid in accordance with palm beach state college salary schedule.”

Form 990, Page 6, Part VI, Line 15B

“Paid in accordance with palm beach state college salary schedule.”

Form 990, Page 6, Part VI, Line 19

“Form 990 is to be available on the organization's website and in writing upon request. In addition, the form 990 is available on various public websites.”

Filing and Contact Details

Filer

Filer Name
Palm Beach State College Fdn Inc
EIN
59-1818556
Phone
5618683572
Address
4200 CONGRESS AVENUE, LAKE WORTH, FL 33461

Signing Officer

Name
Suellen Mann
Title
Executive Director
Phone
5616550478
Signed
2016-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suellen Mann
Formed
1973
Legal Domicile
Fl
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
30

Preparer

Firm
Berman Hopkins Wright Laham Cpas & Assoc
Address
8035 SPYGLASS HILL RD, MELBOURNE, FL 32940
Preparer
Brian Nemeroff
Phone
3217572020
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation accounts for income taxes in accordance with financial accounting standards board accounting standards codification 740 (fasb asc 740), income taxes. Fasb asc 740 requires a two-step approach to evaluate tax positions and determine if they should be recognized in the financial statements. The two-step approach involves recognizing any tax positions that are "more likely than not" to occur and then measuring those positions to determine if they are recognizable in the financial statements. Management regularly reviews and analyzes all tax positions and has determined that no uncertain tax positions requiring recognition have occurred. The foundation is no longer subject to u.s. Federal income tax examinations for years before 2012. The foundation is currently exempt from income taxes under the provisions of the internal revenue service as an organization that is not a private foundation.”

Raw XML AppendixShowing 400 of 664 raw XML fields

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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IRS990/Form990PartVIISectionAGrp/PersonNm1AVA L PARKER
IRS990/Form990PartVIISectionAGrp/PersonNm2GEORGE GENTILE
IRS990/Form990PartVIISectionAGrp/PersonNm3RICKY WADE
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IRS990/Form990PartVIISectionAGrp/PersonNm6NOEL GUILLAMA
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IRS990/Form990PartVIISectionAGrp/PersonNm13BRENT FYKES
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt7EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt8STUDENT REP
IRS990/Form990PartVIISectionAGrp/TitleTxt9FACULTY REP
IRS990/Form990PartVIISectionAGrp/TitleTxt10DBOT REPRESE
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/TitleTxt23DIRECTOR
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IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CUMULATIVE OTHER INCOME 29,350
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01485695
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01986088
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04051246
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0616946

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,022,262
Liabilities
$302,126
Net assets
$32,720,136
Revenue
$4,748,358
Expenses
$2,948,879
Net income
$1,799,479
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$62.0$0.86$61.2$13.5$7.19$6.29
2023Detailed filing. Detailed filing data is available for this year.$52.6$0.90$51.7$8.05$13.4$5.35
2022Detailed filing. Detailed filing data is available for this year.$55.2$1.96$53.2$6.31$4.34$1.97
2021Detailed filing. Detailed filing data is available for this year.$61.5$0.87$60.7$7.50$2.85$4.65
2020Detailed filing. Detailed filing data is available for this year.$55.9$1.70$54.1$13.9$3.38$10.6
2019Detailed filing. Detailed filing data is available for this year.$42.4$1.29$41.1$6.50$3.48$3.02
2018Detailed filing. Detailed filing data is available for this year.$35.5$1.69$33.8$4.39$3.67$0.72
2017Detailed filing. Detailed filing data is available for this year.$37.8$1.11$36.6$3.74$3.38$0.36
2016Detailed filing. Detailed filing data is available for this year.$34.5$1.05$33.5$3.68$3.21$0.47
2015Detailed filing. Detailed filing data is available for this year.$33.0$0.30$32.7$4.75$2.95$1.80
2014Detailed filing. Detailed filing data is available for this year.$32.6$0.28$32.3$4.74$2.75$1.99
2013Detailed filing. Detailed filing data is available for this year.$31.8$0.16$31.7$4.37$2.58$1.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.9$0.11$27.8$5.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.0$0.42$26.6$5.92
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.1$0.57$24.5$6.12