Florida Atlantic University Foundation Inc in Boca Raton, Florida (FL)

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Florida Atlantic University Foundation Inc
Employer Identification Number (EIN)590917284
Name of OrganizationFlorida Atlantic University Foundation Inc
Address777 Glades Rd Bldg 10 295, Boca Raton, FL 33431-6424
ActivitiesOther school related activities, Endowment fund or financial services
SubsectionEducational Organization
Ruling Date04/1962
DeductibilityContributions are deductible
FoundationOrganization which operates for benefit of college or university and is owned or operated by a governmental unit
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$260,141,198
Amount of Income$56,125,523
Form 990 Revenue Amount$20,457,939
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2014: $56,125,523
Florida Atlantic University Foundation Inc: 

 $56,125,523
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2014: $260,141,198
Florida Atlantic University Foundation Inc: 

 $260,141,198
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2013: $17,590,256
Florida Atlantic University Foundation Inc: 

 $17,590,256
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2013: 3.2
This organization: 

 3.2
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2007: 79.7%
Florida Atlantic University Foundation Inc: 

 79.7%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2013: 56.0%
Florida Atlantic University Foundation Inc: 

 56.0%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?Yes
Is the organization required to complete Schedule B, Schedule of Contributors?Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?Yes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?Yes
Did the organization maintain collections of works of art, historical treasures, or other similar assets?Yes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?Yes
Did the organization report an amount for land, buildings, and equipment?Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?Yes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?No
Did the organization report an amount for other assets that is 5% or more of its total assets?Yes
Did the organization report an amount for other liabilities?Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?No
Did the organization obtain separate, independent audited financial statements for the tax year?Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?Yes
Is the organization a school described in section 170(b)(1)(A)(ii)?No
Did the organization maintain an office, employees, or agents outside of the United States?No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?Yes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?Yes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?No
Did the organization report more than $15,000 of gross income from gaming activities?No
Did the organization operate one or more hospital facilities?No
Did the organization attach a copy of its audited financial statements?No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?No
A family member of a current or former officer, director, trustee, or key employee?No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?No
Did the organization receive more than $25,000 in non-cash contributions?Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?Yes
Did the organization liquidate, terminate, or dissolve and cease operations?No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?No
Was the organization related to any tax-exempt or taxable entity?Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?No
Did the organization make any transfers to an exempt non-charitable related organization?Yes
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?No
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096136
The number of Forms W-2G0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return0
Did the organization file all required federal employment tax returns?No
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?Yes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?Yes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?No
Did the organization file Form 8886-T?No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?Yes
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?Yes
Did the organization notify the donor of the value of the goods or services provided?Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?No
Did the sponsoring organization make any taxable distributions under section 4966?No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?No
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?No
The amount of tax-exempt interest received or accrued during the year$0
Is the organization licensed to issue qualified health plans in more than one state?No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0
The amount of reserves on hand$0
Did the organization receive any payments for indoor tanning services during the tax year?No
Has it filed a Form 720 to report these payments?No
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0
Total reportable compensation from related organizations$1,854,571
Total estimated amount of other compensation from the organization and related organizations$181,426
Total number of individuals who received more than $100,000 of reportable compensation from the organization0
Total number of independent contractors who received more than $100,000 of compensation from the organization2
Statement of Revenue
201120122013
Total revenue$17,980,075$16,090,419$22,174,904
Contributions, Gifts, Grants and Other Similar Amounts$10,038,908$11,252,262$12,417,118
Program Service Revenue$604,993$484,542$739,293
900099$326,517
900099$188,059
900099$114,711
900099$110,006
All other program service revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$3,049,695$3,060,076$3,115,392
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$146,703$152,956$152,850
Net rental income$990,865$1,061,186$1,139,011
Gross rents (Real / Personal)$1,009,145 / $0$1,061,186 / $0$1,139,011 / $0
Less: rental expenses (Real / Personal)$18,280 / $0$0 / $0$0 / $0
Rental income or (loss) (Real / Personal)$990,865 / $0$1,061,186 / $0$1,139,011 / $0
Net gain/loss from sales of assets other than inventory$2,772,834$74,947$4,666,794
Gross amount from sales of assets other than inventory (Securities / Other)$88,540,366 / $0$32,207,307 / $0$52,066,891 / $1,074,089
Less: cost or other basis and sales expenses (Securities / Other)$85,767,532 / $0$32,132,360 / $0$47,194,185 / $1,280,001
Gain or (loss) (Securities / Other)$2,772,834 / $0$74,947 / $0$4,872,706 / $-205,912
Net income/loss from fundraising events$196,833$-48,878$-138,849
Gross income from fundraising events$585,273$485,609$515,258
Less: direct expenses$388,440$534,487$654,107
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$101,079$41,428$74,037
Gross sales of inventory, less returns and allowances$107,771$43,723$101,011
Less: cost of goods sold$6,692$2,295$26,974
Miscellaneous Revenue$78,165$11,900$9,258
900099$9,100
900099$158
All other revenue$0
Statement of Functional Expenses
201120122013
Total functional expenses$11,696,894$15,824,745$17,590,256
Grants and other assistance to domestic organizations and domestic governments$3,738,551
Grants and other assistance to domestic individuals$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, trustees, and key employees$535,712$533,992$599,780
Compensation not included above, to disqualified persons$0
Other salaries and wages$2,460,297$3,266,639$3,633,756
Pension plan accruals and contributions$214,880
Other employee benefits$387,562
Payroll taxes$229,195$290,749$218,202
Fees for services (non-employees)
Management$0
Legal$11,895
Accounting$55,375
Lobbying$70,846
Professional fundraising services$47,637$38,329$23,750
Investment management fees$461,368
Other$652,194
Advertising and promotion$94,949
Office expenses$1,078,109
Information technology$187,497
Royalties$31,501
Occupancy$49,586
Travel$497,439
Payments of travel or entertainment expenses for any federal, state, or local public officials$0
Conferences, conventions, and meetings$161,589
Interest$385,077
Payments to affiliates$3,038,658
Depreciation, depletion, and amortization$4,816
Insurance$64,800
Other expenses$2,911
Other expenses$436,918
Other expenses$414,242
Other expenses$362,687
Other expenses$711,318
Balance Sheet
201120122013
Total assets$227,911,152$224,933,257$238,169,415
Cash - non-interest-bearing$607,020
Savings and temporary cash investments$18,799,460
Pledges and grants receivable, net$4,704,702
Accounts receivable, net$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0
Notes and loans receivable, net$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$0
Land, buildings, and equipment: cost or other basis$4,483,321
Investments - publicly traded securities$125,345,905
Investments - other securities$67,258,967
Investments - program-related$4,021,551
Intangible assets$0
Other assets$12,948,489
Total liabilities$18,118,387$17,410,958$12,001,072
Accounts payable and accrued expenses$1,499,356
Grants payable$0
Deferred revenue$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0
Secured mortgages and notes payable to unrelated third parties$822,149$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$10,501,716
Total net assets or fund balances$209,792,765$207,522,299$226,168,343
Unrestricted net assets$8,036,251
Temporarily restricted net assets$73,156,471
Permanently restricted net assets$144,975,621
Capital stock or trust principal, or current funds$0
Paid-in or capital surplus, or land, building, or equipment fund$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$58,014,921
Subtotal Support$59,317,941
Gifts, grants, contributions, and membership fees received$48,291,298
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$11,026,643
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$1,303,020
Total Support$81,301,067
Public Support$59,317,941
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$21,353,899
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$629,227
Gross receipts from related activities, etc.$3,555,913
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$30,003,773$22,639,889$23,024,615$21,488,571$37,445,022$41,607,350$34,148,315$30,976,843
Contributions, gifts, grants, and similar amounts received$18,824,778$26,204,733$20,658,126$17,409,268$25,561,814$21,184,404$19,439,087$11,715,562
Contributions to donor advised funds$0$0
Direct public support$16,571,029$20,486,618$12,660,796$13,416,249$12,180,609$19,611,367$17,441,050$11,715,562
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$2,253,749$5,718,115$7,997,330$3,993,019$13,381,205$1,573,037$1,998,037$0
Program service revenue including government fees and contracts$761,931$1,293,869$965,627$1,334,605$973,622$777,408$456,342$248,915
Membership dues and assessments$0$120,693$188,371$149,320$60,283$168,327$123,000$175,092
Interest on savings and temporary cash investments$486,348$1,254,255$1,596,266$2,102,593$2,761,616$3,478,191$3,932,444$3,695,039
Dividends and interest from securities$2,730,273$1,348,005$695,521$347,517$400,685$535,910$447,373$482,751
Net rental income or (loss)$191,719$941,302$977,280$946,594$1,040,146$1,037,101$1,087,757$1,178,657
Gross rents$191,719$941,302$977,280$946,594$1,040,146$1,037,101$1,087,757$1,178,657
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$99,139$481,192$-379,556$106,817$107,288
Gain or (loss) from sales of assets other than inventory$6,578,035$-8,936,333$-2,128,752$-925,465$5,778,104$14,321,605$8,035,497$13,206,468
Gross amount from sales of assets other than inventory$74,125,804$128,708,490$0$40,259,769$60,513,965$135,716,152$32,818,337$149,152,369
Less: cost or other basis and sales expenses$67,547,769$137,644,823$2,128,752$41,185,234$54,735,861$121,394,547$24,782,840$135,945,901
Net income or (loss) from special events and activities$372,575$104,109$-162,568$112$44,350$96,363$353,841$34,877
Gross revenue$415,421$530,450$126,292$161,524$73,206$397,356$495,636$651,737
Less: direct expenses other than fundraising expenses$42,846$426,341$288,860$161,412$28,856$300,993$141,795$616,860
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$108,464$75,270
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$108,464$75,270
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$58,114$309,256$234,744$24,888$343,210$387,597$57,693$56,924
Total expenses$22,079,358$22,754,974$33,586,969$15,193,657$17,203,032$16,820,528$18,476,034$15,757,593
Program services$20,980,952$22,103,447$31,924,762$13,969,324$14,418,946$14,470,455$13,895,428$12,559,981
Management and general$315,784$245,620$548,566$588,482$1,543,066$941,721$1,083,169$1,468,907
Fundraising$782,622$405,907$1,113,641$635,851$1,241,020$1,408,352$3,497,437$1,728,705
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$133,062,381$133,950,449$117,634,380$141,929,655$171,198,857$196,352,252$231,645,518$226,825,916
Excess or (deficit) for the year$7,924,415$-115,085$-10,562,354$6,294,914$20,241,990$24,786,822$15,672,281$15,219,250
Net assets or fund balances at beginning of year$138,794,079$133,062,381$133,950,449$117,634,380$141,929,655$171,198,857$196,352,252$231,645,518
Other changes in net assets or fund balances$-13,656,113$1,003,153$-5,753,715$18,000,361$9,027,212$366,573$19,620,985$-20,038,852
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$15,757,593$12,559,981$1,468,907$1,728,705
Grants paid from donor advised funds$0
Other grants and allocations$5,491,709
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$220,369$220,369$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$3,556,619$2,384,972$345,943$825,704
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$956,509$561,852$134,721$259,936
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$49,104$8,171$40,933$0
Supplies$300,795$250,548$10,257$39,990
Telephone$61,664$23,783$4,846$33,035
Postage and shipping$124,549$37,420$6,262$80,867
Occupancy$66,258$65,947$0$311
Equipment rental and maintenance$1,087,303$1,062,513$2,526$22,264
Printing and publications$440,969$196,870$3,467$240,632
Travel$548,056$506,660$9,924$31,472
Conferences, conventions, and meetings$583,151$545,034$1,444$36,673
Interest$146,253$109,187$37,066$0
Depreciation, depletion, etc.$4,816$756$4,060$0
Other expenses not covered above$2,119,469$1,094,190$867,458$157,821
Balance Sheets
20002001200220032004200520062007
Total assets$154,159,455$155,136,058$138,200,353$161,602,644$189,981,247$213,952,165$248,071,424$247,955,615
Cash - non-interest-bearing$0$0$0$0$0$765,551$888,458$604,839
Savings and temporary cash investments$0$0$0$0$0$5,584,143$2,400,690$17,286,322
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$17,820,713$22,427,500$9,700,454$7,506,811$7,469,168$7,709,776$15,225,289$15,685,232
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$112,532,649$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$2,992,781$110,890,965$109,074,679$145,935,638$174,281,647$180,081,681$221,310,835$206,500,912
Land, buildings, and equipment less accumulated depreciation$5,528,539$6,450,171$5,024,774$5,026,199$5,015,142$5,010,326$4,512,217$4,507,401
Other assets, including program-related investments$15,284,773$15,367,422$14,400,446$3,133,996$3,215,290$14,800,688$3,733,935$3,370,909
Total liabilities$21,097,074$21,185,609$20,565,973$19,672,989$18,782,390$17,599,913$16,425,906$21,129,699
Accounts payable and accrued expenses$1,399,341$1,095,609$1,350,936$1,513,074$1,693,719$1,593,659$1,513,296$7,258,574
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$7,392,733$8,000,000$7,345,037$6,519,915$5,693,671$4,866,254$4,037,610$3,271,125
Other liabilities$12,305,000$12,090,000$11,870,000$11,640,000$11,395,000$11,140,000$10,875,000$10,600,000
Total liabilities and net assets/fund balances$154,159,455$155,136,058$138,200,353$161,602,644$189,981,247$213,952,165$248,071,424$247,955,615
Total net assets or fund balances$133,062,381$133,950,449$117,634,380$141,929,655$171,198,857$196,352,252$231,645,518$226,825,916
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$22,639,889$23,024,615$21,488,571$37,445,022$41,607,350$34,148,315$30,976,843
Total revenue, gains, and other support per audited financial statements$0$23,734,148$24,279,787$39,364,454$46,090,995$43,507,796$57,272,674$13,288,820
Other expenses$0$1,429,494$1,560,029$18,266,024$9,056,068$1,900,446$23,399,794$-17,287,316
Net unrealized gains on investments$0$1,003,153$1,271,169$18,000,361$9,027,212$366,573$19,620,985$-20,038,852
Donated services and use of facilities$0$0$0$104,251$0$1,232,880$3,637,014$2,134,676
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$426,341$288,860$161,412$28,856$300,993$141,795$616,860
Other revenue$0$335,235$304,857$390,141$410,095$0$275,435$400,707
Investment expenses$0$0$0$0$0$0$275,435$400,707
Other$0$335,235$304,857$390,141$410,095$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$22,754,974$33,586,969$15,193,657$17,203,032$16,820,528$18,476,034$15,757,593
Total expenses and losses per audited financial statements$0$22,846,080$33,570,972$15,069,179$16,821,793$18,354,401$21,979,408$18,108,422
Other revenue$0$426,341$288,860$265,663$28,856$1,533,873$3,778,809$2,751,536
Donated services and use of facilities$0$0$0$104,251$0$1,232,880$3,637,014$2,134,676
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$426,341$288,860$161,412$28,856$300,993$141,795$616,860
Other expenses$0$335,235$304,857$390,141$410,095$0$275,435$400,707
Investment expenses$0$0$0$0$0$0$275,435$400,707
Other$0$335,235$304,857$390,141$410,095$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$181,376$36,831$0
40$0$2,162$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings24
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$18,745,473$515,808
Program service revenue
Program service revenue 1000000$000$0$122,182
Program service revenue 2000000$000$0$112,082
Program service revenue 3000000$000$0$12,163
Program service revenue 4000000$000$0$2,488
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$175,092
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,695,039$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$482,751$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$1,178,657$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Royalty income excluded by section 512(b)(2)$107,288$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$13,206,468$0
Net income or (loss) from special events000000$000$0$34,877
Gross profit or (loss) from sales of inventory000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$75,270$0
Other revenue000000$000$0$56,924
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$250,360
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
19992000200120022003200420052006
Total$36,181,148$23,425,738$31,576,222$25,153,367$22,414,036$31,733,417$24,571,128$20,413,958
Gifts, grants, and contributions received$31,731,580$18,824,778$26,204,733$20,658,126$17,409,268$25,599,457$18,168,794$13,598,432
Membership fees received$0$0$120,693$188,371$149,320$60,283$168,327$123,000
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$1,300,710$1,326,225$2,339,280$803,059$1,334,717$1,046,828$1,174,764$1,060,442
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$3,148,858$3,216,621$2,602,260$3,269,067$3,495,843$4,683,639$4,671,646$5,574,391
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$58,114$309,256$234,744$24,888$343,210$387,597$57,693
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$15,767,953
Total lobbying expenditures$250,360
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$250,360
Other exempt purpose expenditures$15,517,593
Lobbying nontaxable amount$938,398
Grassroots nontaxable amount$234,600
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1University Of South Florida Foundation Inc, Sam & Martha Gibbons Alumni Center4202 East Fowler Avenue, Tampa, FL 33620-9951FL1960-09$312,231,701
2University Of Florida Foundation Inc, Students For International Veterinary Opportunities2015 Sw 16th Ave, Gainesville, FL 32611FL1979-01$213,512,963
3Florida International University Foundation Inc11200 Sw 8th St Marc 5th Flr, Miami, FL 33199-2516FL1969-12$182,258,889
4Seminole Boosters IncPO BOX 1353, Tallahassee, FL 32302-1353FL1975-05$66,260,136
5Florida Atlantic University Foundation Inc777 Glades Rd Bldg 10 295, Boca Raton, FL 33431-6424FL1962-04$56,125,523
6Florida Agricultural & Mechanical Univ Foundation Inc, Florida A&m University National Alumni Association Palm Beach County ChapterPo Box 2305, West Palm Beach, FL 33402FL1967-06$53,443,019
7University Of Central Florida Foundation Inc12424 Research Pkwy Ste 140, Orlando, FL 32826-3257FL1968-08$53,190,173
8University Of West Florida Foundation Inc11000 University Pkwy Bldg 12, Pensacola, FL 32514-5732FL1965-11$35,346,806
9University Of Florida Research Foundation IncPO BOX 115500, Gainesville, FL 32611-5500FL2000-06$35,268,973
10Miami Dade College Foundation Inc300 Ne 2nd Avenue No 1423-1, Miami, FL 33132-2204FL1966-04$34,626,438
11Friends Of Imagine International Academy Of North Texas5100 W Eldorado Parkway Ste 102-589, Mckinney, TX 75070TX2009-09$7,669,453
12Royal Arch Research Assistance IncPO BOX 128, Greenfield, IN 46140-0128IN1975-02$3,764,269
13University Metro Town Center Endowment Inc9201 University City Blvd, Charlotte, NC 28223-0001NC1982-11$1,563,501
14Fond Du Lac Area Catholic Education Foundation Inc255 County Road K, Fond Du Lac, WI 54937-8162WI2001-05$978,222
15Auld Public Library Foundation537 N Webster St, Red Cloud, NE 68970-2421NE1999-12$643,901
16Round Top Library Association IncPO BOX 245, Round Top, TX 78954-0245TX1999-10$221,005
17Uu World Of Children1135 State Park Rd, Greenville, SC 29609-1518SC2007-04$215,918
18St Georges College Old Boys Association Of FloridaPO BOX 277532, Miramar, FL 33027-7532FL2006-10$1,072
19Friends From Abroad Inc971 Michigan Ave, Naples, FL 34103-8803FL2003-02$0
20Highlander Aquatic Booster Club901 North Highland Ave, Orlando, FL 32803-3233FL1999-02$0
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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