Civic Intelligence

The Founders Fund Inc

990 • Fiscal year 2023 • EIN 65-0327093

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 10, 2023

Organization Profilethefoundersfundinc.org
707 Gulf Park DriveNaples, FL 34108

(239) 593-0124

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

6th percentile

-63%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

36th percentile

-0.0%

Faster asset growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$3,048,933

Down $1,200 (-0.0%) from 2022

Net Assets

Down

$3,048,933

Down $1,200 (-0.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin6th percentile

Revenue

Down

$295,392

Down $1,148,165 (-80%) from 2022

Expenses

Up

$482,368

Up $116,077 (+32%) from 2022

Net Income

Down

-$186,976

Down $1,264,242 (-117%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $439,360Liabilities 2012: $0Net Assets 2012: $439,3602012Assets 2013: $403,849Liabilities 2013: $0Net Assets 2013: $403,8492013Assets 2014: $568,044Liabilities 2014: $0Net Assets 2014: $568,0442014Assets 2015: $479,075Liabilities 2015: $0Net Assets 2015: $479,0752015Assets 2016: $924,850Liabilities 2016: $0Net Assets 2016: $924,8502016Assets 2017: $1,040,981Liabilities 2017: $0Net Assets 2017: $1,040,9812017Assets 2018: $2,148,551Liabilities 2018: $0Net Assets 2018: $2,148,5512018Assets 2019: $2,163,779Liabilities 2019: $0Net Assets 2019: $2,163,7792019Assets 2020: $2,303,638Liabilities 2020: $0Net Assets 2020: $2,303,6382020Assets 2021: $2,776,035Liabilities 2021: $0Net Assets 2021: $2,776,0352021Assets 2022: $3,050,133Liabilities 2022: $0Net Assets 2022: $3,050,1332022Assets 2023: $3,048,933Liabilities 2023: $0Net Assets 2023: $3,048,9332023Assets 2024: $3,963,415Liabilities 2024: $0Net Assets 2024: $3,963,4152024Assets 2025: $3,859,080Liabilities 2025: $0Net Assets 2025: $3,859,0802025

Highlighted filing

2023

Assets$3,048,933
Liabilities$0
Net Assets$3,048,933
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $223,0232012Expenses 2013: $272,1702013Revenue 2014: $415,549Expenses 2014: $251,354Net Income 2014: $164,1952014Revenue 2015: $177,917Expenses 2015: $266,886Net Income 2015: -$88,9692015Revenue 2016: $696,967Expenses 2016: $256,597Net Income 2016: $440,3702016Revenue 2017: $308,320Expenses 2017: $237,614Net Income 2017: $70,7062017Revenue 2018: $1,360,451Expenses 2018: $306,207Net Income 2018: $1,054,2442018Revenue 2019: $357,362Expenses 2019: $394,316Net Income 2019: -$36,9542019Revenue 2020: $408,703Expenses 2020: $275,985Net Income 2020: $132,7182020Revenue 2021: $436,533Expenses 2021: $346,403Net Income 2021: $90,1302021Revenue 2022: $1,443,557Expenses 2022: $366,291Net Income 2022: $1,077,2662022Revenue 2023: $295,392Expenses 2023: $482,368Net Income 2023: -$186,9762023Revenue 2024: $1,233,448Expenses 2024: $563,602Net Income 2024: $669,8462024Revenue 2025: $444,845Expenses 2025: $646,482Net Income 2025: -$201,6372025

Highlighted filing

2023

Revenue$295,392
Expenses$482,368
Net Income-$186,976
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 10, 2023
Return Version
2022v5.0
Gross Receipts
$295,392
Mission and Program Overview

Mission

The Organization provides student scholarships for post seconday education to individuals of Collier County, Florida, based on merit and need.

The Organization provides student scholarships for post secondary education to individuals of Collier County, Florida, based on merit and need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,984,917$2,188,220▲ $203,303
Savings and Temporary Cash Investments$8,423$556,774▲ $548,351
Cash and Non-Interest-Bearing Accounts$1,056,793$303,939▼ $752,854
Total Assets$3,050,133$3,048,933▼ $1,200
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,025,133$3,023,933▼ $1,200
Net Assets With Donor Restrictions$25,000$25,000→ $0
Total Net Assets Fund Balance$3,050,133$3,048,933▼ $1,200
Total Liabilities and Net Assets / Fund Balance$3,050,133$3,048,933▼ $1,200

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,994,917-▲ $203,303-$2,198,220
2021$2,290,339$10,000▼ $305,422-$1,994,917
2020$1,817,869-▲ $472,470-$2,290,339
2019$1,756,576$20,395▲ $40,898-$1,817,869
2018$1,515,270$140,276▲ $101,030-$1,756,576
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Pat ChadwickChairman
Claire ReardonTrustee
Donna IssenmannTrustee
Edward SwanTrustee
Jane HoffmanTrustee
Kim GlavinTrustee
Linda TysonTrustee
Mary CarlsonTrustee
Meryl MannTrustee
Michael BalgordTrustee
Patricia ScovilleTrustee
Philip ClayTrustee
Richard GaleTrustee
Stephen EichenbergerTrustee
Sue JerovsekTrustee
Nick SpinaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$270,859
Program Service Revenue
$0
Investment Income
$24,533
Other Revenue
$0
All Other Contributions
$270,859
Change in Net Assets
$-186,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$360,487
Other Expenses$121,881
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$360,487--$360,487
Fees for Services Management$0$65,233$0$65,233
Advertising$0$19,051$0$19,051
Office Expenses$0$9,883$0$9,883
Other Expenses$0$8,488$0$8,488
Fees for Services Accounting$0$2,575$0$2,575
Information Technology$0$650$0$650
Total Functional Expenses$360,487$121,881$0$482,368
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Founders Fund Inc
EIN
65-0327093
Phone
2395930124
Address
707 GULF PARK DRIVE, NAPLES, FL 34108
Doing Business As
The Founders Scholarship Fund

Signing Officer

Name
Nick Spina
Title
Treasurer
Phone
2395930124
Signed
2023-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Spina
Formed
1991
Legal Domicile
Fl
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
30

Preparer

Firm
SCHMITT & KAYLOR CPA'S
Address
PO BOX 608, LA PORTE, IN 46352
Preparer
Ken Kaylor
Phone
2393706868
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 prepared by accountant then reviewed by Treasurer. Available to trustees upon request.”

Pt VI, Line 19

“Upon written request addressed to the Board of Trustees, the documents will be made available for pickup or mailed”

Financial Statement Notes

Pt V, Line 4

“The board designated endowment fund was created to provide funding to cover shortfalls in regular fundraising, provide additional scholarships to deserving students, or increase the level of scholarship grants.”

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IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt06483
IRS990/OtherExpensesGrp/TotalAmt14972
IRS990/OtherExpensesGrp/TotalAmt24546
IRS990/OtherExpensesGrp/TotalAmt38488
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Nick Spina
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0969589
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IRS990/PYGrantsAndSimilarPaidAmt0247812
IRS990/PYInvestmentIncomeAmt0498003
IRS990/PYOtherExpensesAmt0118479
IRS990/PYOtherRevenueAmt0-24035
IRS990/PYRevenuesLessExpensesAmt01077266
IRS990/PYTotalExpensesAmt0366291
IRS990/PYTotalRevenueAmt01443557
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt0-186976
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08423
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0556774
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0270859
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0969589
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0346198
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0373946
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0307200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02267792
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt024533
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0498003
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt090335
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt034699
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt050162
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0697732
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.66720
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.63880
IRS990ScheduleA/PublicSupportTotal170Amt01978461
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt0289331
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0270859
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0969589
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0346198
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0373946
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0307200
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02267792
IRS990ScheduleA/TotalSupportAmt02965524
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01994917
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02198220
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0203303
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02290339
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt010000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01994917
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-305422
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01817869
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02290339
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0472470
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01756576
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt020395
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01817869
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt040898
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01515270
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0140276
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01756576
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0101030
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The board designated endowment fund was created to provide funding to cover shortfalls in regular fundraising, provide additional scholarships to deserving students, or increase the level of scholarship grants.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt V, Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt V, Line 4
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0360487
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Educational Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0104
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Educational scholarships for college tuition are remitted directly to educational institution. Students must provide semester completed information and grades. Students must maintain minimum grade point average. Board of Directors monitors all information.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt III, col (b)
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 prepared by accountant then reviewed by Treasurer. Available to trustees upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Upon written request addressed to the Board of Trustees, the documents will be made available for pickup or mailed
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0The Club Pelican Bay Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0650221331
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C7)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Private Country Club
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0707 Gulf Park Drive
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Naples
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd034108
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,048,933
Liabilities
$0
Net assets
$3,048,933
Revenue
$295,392
Expenses
$482,368
Net income
-$186,976
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.86$0.00$3.86$0.44$0.65$0.20
2024Detailed filing. Detailed filing data is available for this year.$3.96$0.00$3.96$1.23$0.56$0.67
2023Detailed filing. Detailed filing data is available for this year.$3.05$0.00$3.05$0.30$0.48$0.19
2022Detailed filing. Detailed filing data is available for this year.$3.05$0.00$3.05$1.44$0.37$1.08
2021Detailed filing. Detailed filing data is available for this year.$2.78$0.00$2.78$0.44$0.35$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.30$0.00$2.30$0.41$0.28$0.13
2019Detailed filing. Detailed filing data is available for this year.$2.16$0.00$2.16$0.36$0.39$0.04
2018Detailed filing. Detailed filing data is available for this year.$2.15$0.00$2.15$1.36$0.31$1.05
2017Detailed filing. Detailed filing data is available for this year.$1.04$0.00$1.04$0.31$0.24$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.92$0.00$0.92$0.70$0.26$0.44
2015Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$0.18$0.27$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.42$0.25$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.00$0.40$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.00$0.44$0.22