Civic Intelligence

Florida Gulf Coast University Foundation Inc.

990 • Fiscal year 2020 • EIN 65-0403969

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 15, 2020

10501 Fgcu Boulevard SouthFort Myers, FL 33965-6565

(239) 745-4365

Siviq Scores

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

Liabilities / Assets

11th percentile

0.02x

Higher debt load relative to assets than 11% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

13th percentile

0.10x

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

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

85th percentile

28%

Higher net margin than 85% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

62nd percentile

$599,926

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

64th percentile

9.8%

Faster asset growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

45%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$148,110,354

Up $13,223,638 (+9.8%) from 2019

Net Assets

Up

$145,711,950

Up $12,522,784 (+9.4%) from 2019

Liabilities

Up

$2,398,404

Up $700,854 (+41%) from 2019

Revenue

Up

$24,893,229

Up $7,712,660 (+45%) from 2019

Expenses

Down

$17,914,536

Down $1,685,638 (-8.6%) from 2019

Net Income

Up

$6,978,693

Up $9,398,298 (+388%) from 2019

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $77,511,331Liabilities 2011: $7,371,472Net Assets 2011: $70,139,8592011Assets 2012: $76,134,342Liabilities 2012: $7,286,351Net Assets 2012: $68,847,9912012Assets 2013: $84,685,663Liabilities 2013: $7,195,062Net Assets 2013: $77,490,6012013Assets 2014: $107,872,084Liabilities 2014: $7,295,812Net Assets 2014: $100,576,2722014Assets 2015: $112,795,155Liabilities 2015: $7,242,842Net Assets 2015: $105,552,3132015Assets 2016: $118,350,303Liabilities 2016: $7,249,537Net Assets 2016: $111,100,7662016Assets 2017: $126,651,015Liabilities 2017: $2,979,983Net Assets 2017: $123,671,0322017Assets 2018: $131,528,050Liabilities 2018: $1,580,722Net Assets 2018: $129,947,3282018Assets 2019: $134,886,716Liabilities 2019: $1,697,550Net Assets 2019: $133,189,1662019Assets 2020: $148,110,354Liabilities 2020: $2,398,404Net Assets 2020: $145,711,9502020Assets 2021: $178,086,108Liabilities 2021: $3,797,742Net Assets 2021: $174,288,3662021Assets 2022: $164,718,359Liabilities 2022: $2,488,139Net Assets 2022: $162,230,2202022Assets 2023: $185,699,204Liabilities 2023: $2,379,522Net Assets 2023: $183,319,6822023Assets 2025: $230,102,845Liabilities 2025: $2,909,254Net Assets 2025: $227,193,5912025

Highlighted filing

2020

Assets$148,110,354
Liabilities$2,398,404
Net Assets$145,711,950

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $7,332,1792011Expenses 2012: $8,366,3402012Expenses 2013: $7,820,0852013Revenue 2014: $21,567,477Expenses 2014: $9,783,858Net Income 2014: $11,783,6192014Revenue 2015: $15,852,742Expenses 2015: $9,749,641Net Income 2015: $6,103,1012015Revenue 2016: $21,956,679Expenses 2016: $12,695,937Net Income 2016: $9,260,7422016Revenue 2017: $26,514,654Expenses 2017: $16,151,157Net Income 2017: $10,363,4972017Revenue 2018: $17,392,075Expenses 2018: $15,229,161Net Income 2018: $2,162,9142018Revenue 2019: $17,180,569Expenses 2019: $19,600,174Net Income 2019: -$2,419,6052019Revenue 2020: $24,893,229Expenses 2020: $17,914,536Net Income 2020: $6,978,6932020Revenue 2021: $21,067,344Expenses 2021: $20,940,515Net Income 2021: $126,8292021Revenue 2022: $25,895,312Expenses 2022: $20,282,820Net Income 2022: $5,612,4922022Revenue 2023: $29,949,264Expenses 2023: $22,028,403Net Income 2023: $7,920,8612023Revenue 2025: $27,944,344Expenses 2025: $22,804,442Net Income 2025: $5,139,9022025

Highlighted filing

2020

Revenue$24,893,229
Expenses$17,914,536
Net Income$6,978,693
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 15, 2020
Return Version
2019v5.1
Gross Receipts
$59,777,552
Mission and Program Overview

Mission

The foundation's mission is to support the educational mission of florida gulf coast university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$72,814,561$77,730,329▲ $4,915,768
Investments Other Securities$28,052,406$29,471,333▲ $1,418,927
Savings and Temporary Cash Investments$19,306,762$20,458,825▲ $1,152,063
Land, Buildings, and Equipment, Net$12,032,007$11,835,007▼ $197,000
Pledges and Grants Receivable$2,360,668$8,294,508▲ $5,933,840
Prepaid Expenses and Deferred Charges$136,205$99,299▼ $36,906
Accounts Receivable$5,750$3,150▼ $2,600
Total Assets$134,886,716$148,110,354▲ $13,223,638
Other Assets Total$178,357$217,903▲ $39,546
Liabilities
Other Liabilities$1,579,785$2,138,099▲ $558,314
Accounts Payable and Accrued Expenses$117,765$260,305▲ $142,540
Total Liabilities$1,697,550$2,398,404▲ $700,854
Net Assets / Fund Balance
Net Assets With Donor Restrictions$123,650,608$135,596,396▲ $11,945,788
Net Assets Without Donor Restrictions$9,538,558$10,115,554▲ $576,996
Total Net Assets Fund Balance$133,189,166$145,711,950▲ $12,522,784
Total Liabilities and Net Assets / Fund Balance$134,886,716$148,110,354▲ $13,223,638

Asset Categories

AssetBook ValueDepreciationBasis
Land$11,835,007--
Other Securities$1,143,593--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$94,547,577$6,377,779▲ $3,380,536$2,848,900$100,019,129
2018$91,196,780$1,049,802▲ $6,176,900$2,527,982$94,547,577
2017$84,643,790$3,724,592▲ $6,613,986$2,470,071$91,196,780
2016$72,931,535$6,345,612▲ $8,758,004$2,256,598$84,643,790
2015$74,882,500$3,479,590▼ $1,981,594$2,366,303$72,931,535
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Floridian PartnersLobbying108 SOUTH MONROE STREET, Tallahassee, FL 32301$166,571
Dissinger Reed LLCInsurance Services8700 INDIAN CREEK PKWY STE 320, Overland Park, KS 66210$148,479
Artistic Science LLCLight & Sound Production1431 RAIL HEAD BLVD 2, Naples, FL 34110$103,725
Revenue and Support

Revenue Composition

Contributions and Grants
$24,376,754
Program Service Revenue
$1,597,140
Investment Income
$-1,498,767
Other Revenue
$418,102
All Other Contributions
$23,884,180
Change in Net Assets
$6,978,693

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
Securities Publicly Traded25$540,747Avg. Trading Value
Total Noncash Contributions25$540,747-

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,719,845
Revenue Not Reported on Financial Statements
$173,384
Revenue Not Reported on Form 990
$5,838,119
Total Revenue per Audited Statements
$30,557,964
Total Revenue per Form 990
$24,893,229
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,971,501
Other Expenses$4,904,807
Total Fundraising Expense$423,378
Professional Fundraising Fees$38,228
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,971,501--$12,971,501
Conferences and Meetings$743,452$262,829$228,268$1,234,549
Office Expenses$669,740$39,491$50,921$760,152
Fees for Services Other$559,049$27,060$12,139$598,248
Insurance$261,549$94,992$49,535$406,076
Travel$329,150$15,449$28,315$372,914
Occupancy$223,302$230-$223,532
Fees for Services Lobbying-$181,453-$181,453
Fees for Service Investment Mgmnt Fees-$173,384-$173,384
Fees for Services Accounting$34,250$48,700-$82,950
All Other Expenses$30,550$49,920-$80,470
Advertising$28,898$17,464$12,090$58,452
Information Technology$52,899--$52,899
Fees for Services Professional Fundraising--$38,228$38,228
Depreciation Depletion-$30,606-$30,606
Fees for Services Legal-$3,551-$3,551
Other Expenses$11,296$346$3,852$346
Total Functional Expenses$16,538,968$952,190$423,378$17,914,536

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$18,035,180
Total Expenses per Form 990$17,914,536
Expenses per Audited Statements$17,741,152
Expenses Not Reported on Form 990$294,028
Expenses Not Reported on Financial Statements$173,384
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Florida Gulf Coast UniversityFort Myers, FL170(c)(1)Scholarships and Support for Florida Gulf Coast University$12,971,501
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$698,934
Fundraising Direct Expenses$294,028
Professional Fundraising Fees$38,228

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Night at Nest$721,610$465,821$50,322$415,499
Golf Tournament$155,202$41,797$14,503$27,294
Total Events$1,191,508$698,934$294,028$404,906
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Annuities$1,405,450
Gift Annuities Payable$732,649
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 1

The executive committee is made up of the chairs of the committees. The committee has the complete authority of the board between meetings. Any decisions made by the executive committee are ratified at the next board meeting.

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

The completed form 990 is prepared by an independent cpa firm and is reviewed by the audit committee, executive director, and cfo prior to filing with the irs.

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

Foundation board members are covered under the conflict of interest policy. Members are asked to disclose a full bio of themselves including relationships that may cause a conflict of interest. When a conflict of interest is identified, it is disclosed to the foundation board for their consideration. While no formal restrictions are placed on these members, it has been the board's and the committee's practice that those individuals with a conflict would abstain from voting and related discussions on the decision. Key employees are covered under the university's conflict of interest policy.

Form 990, Part VI, Section B, Line 15

Compensation for officers and key employees is determined under the human resource policies of the university. The foundation relies on the compensation committee of the university to establish the compensation of the executive director and cfo.

Form 990, Part VI, Section C, Line 19

Governing documents and form 990 are on the foundation's website and are available upon request. The conflict of interest policy is not made available.

Filing and Contact Details

Filer

Filer Name
Florida Gulf Coast University
EIN
65-0403969
Phone
2397454365
Address
10501 FGCU BOULEVARD SOUTH, FORT MYERS, FL 33965-6565

Signing Officer

Name
Gerard Carrington
Title
Chief Financial Officer
Phone
2397454365
Signed
2020-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katherine Green
Formed
1993
Legal Domicile
Fl
Voting Board Members
55
Independent Board Members
54
Employees
0
Volunteers
57

Preparer

Firm
Cherry Bekaert Llp
Address
401 EAST JACKSON ST SUITE 1200, TAMPA, FL 33602
Preparer
Amanda Adams
Phone
8132511010
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in gift annuity 51,459.

Financial Statement Notes

PART V, LINE 4:

Endowment funds are used to support endowed chairs, professorships, scholarships, fellowships and other programs for the benefit of florida gulf coast university.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising event expenses shown in part viii 294,028. Change in gift annuity 51,459.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising event expenses shown in part viii 294,028.

Raw XML AppendixShowing 400 of 1,237 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/PersonNm0MICHAEL MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm1TIMOTHY CARTWRIGHT
IRS990/Form990PartVIISectionAGrp/PersonNm2SAMANTHA SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm3KIMBERLY REESE
IRS990/Form990PartVIISectionAGrp/PersonNm4CHARLES KETTEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm5RICHARD ACKERT
IRS990/Form990PartVIISectionAGrp/PersonNm6LAWRENCE ANTONUCCI
IRS990/Form990PartVIISectionAGrp/PersonNm7DAVID BARTLEY
IRS990/Form990PartVIISectionAGrp/PersonNm8DAVID CALL
IRS990/Form990PartVIISectionAGrp/PersonNm9HARRY CASIMIR
IRS990/Form990PartVIISectionAGrp/PersonNm10JOSEPH CATTI
IRS990/Form990PartVIISectionAGrp/PersonNm11BARRON COLLIER III
IRS990/Form990PartVIISectionAGrp/PersonNm12THOMAS CORCORAN
IRS990/Form990PartVIISectionAGrp/PersonNm13MILLER COUSE
IRS990/Form990PartVIISectionAGrp/PersonNm14ALEXANDRIA DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm15CHARLES EDWARDS
IRS990/Form990PartVIISectionAGrp/PersonNm16DEAN FJELSTUL
IRS990/Form990PartVIISectionAGrp/PersonNm17JEFFREY FRIDKIN
IRS990/Form990PartVIISectionAGrp/PersonNm18JOHN FUMAGALLI
IRS990/Form990PartVIISectionAGrp/PersonNm19JOSEPH GAMMONS
IRS990/Form990PartVIISectionAGrp/PersonNm20MARY BETH GEIER
IRS990/Form990PartVIISectionAGrp/PersonNm21J DUDLEY GOODLETTE
IRS990/Form990PartVIISectionAGrp/PersonNm22BEN HILL GRIFFIN III
IRS990/Form990PartVIISectionAGrp/PersonNm23DENNIS HANSCH
IRS990/Form990PartVIISectionAGrp/PersonNm24MICHAEL HARTLEY
IRS990/Form990PartVIISectionAGrp/PersonNm25DAVID HOLMES
IRS990/Form990PartVIISectionAGrp/PersonNm26LAURA HOLQUIST
IRS990/Form990PartVIISectionAGrp/PersonNm27WILLIAM HOROWITZ
IRS990/Form990PartVIISectionAGrp/PersonNm28CHARLES IDELSON
IRS990/Form990PartVIISectionAGrp/PersonNm29JAMES KNUPP
IRS990/Form990PartVIISectionAGrp/PersonNm30ALAN KOREST
IRS990/Form990PartVIISectionAGrp/PersonNm31ALEX LAMBROS
IRS990/Form990PartVIISectionAGrp/PersonNm32DAN LAVENDER
IRS990/Form990PartVIISectionAGrp/PersonNm33DONALD LESCH
IRS990/Form990PartVIISectionAGrp/PersonNm34W BERNARD LESTER
IRS990/Form990PartVIISectionAGrp/PersonNm35DAVID LUCAS
IRS990/Form990PartVIISectionAGrp/PersonNm36STEVE MCINTOSH
IRS990/Form990PartVIISectionAGrp/PersonNm37J LEO MONTGOMERY
IRS990/Form990PartVIISectionAGrp/PersonNm38EDWARD MORTON
IRS990/Form990PartVIISectionAGrp/PersonNm39JAMES NATHAN
IRS990/Form990PartVIISectionAGrp/PersonNm40GEURT PEET

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$230$2.91$227$27.9$22.8$5.14
2023Summary only. Only limited summary data is available for this year.$186$2.38$183$29.9$22.0$7.92
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$165$2.49$162$25.9$20.3$5.61
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$178$3.80$174$21.1$20.9$0.13
2020Detailed filing. Detailed filing data is available for this year.$148$2.40$146$24.9$17.9$6.98
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$135$1.70$133$17.2$19.6$2.42
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$132$1.58$130$17.4$15.2$2.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$2.98$124$26.5$16.2$10.4
2016Detailed filing. Detailed filing data is available for this year.$118$7.25$111$22.0$12.7$9.26
2015Detailed filing. Detailed filing data is available for this year.$113$7.24$106$15.9$9.75$6.10
2014Detailed filing. Detailed filing data is available for this year.$108$7.30$101$21.6$9.78$11.8
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.7$7.20$77.5$7.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.1$7.29$68.8$8.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.5$7.37$70.1$7.33
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $100M-$250M nonprofits