Florida Polytechnic University Foundation INC

Tax-deductible

Lakeland, FL501(c)(3)Since 2012EducationEIN 46-1426289Revenue $2.1M in FY2024

On file with the IRSfoundation.floridapoly.edu4700 Research Way, 33805-8531 · Lakeland, FLTax-exempt since Dec 2013College/university support org — 170(b)(1)(A)(iv)

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Established to help sustain the mission of Florida Polytechnic University to educate students emphasizing science, technology, engineering and mathematics (stem) in an innovative, technology-rich, and interdisciplinary learning environment.

501(c)(3) charity; gifts are tax-deductible.
36¢ of each $1 spent went to programs.
Run by 20 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $1.7M a year · 56% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
36%
of spending
Concern: 36% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 14.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $1.0M
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$36K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 21 voting members
Looks good: 20 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+15% vs prior year
Spent
$1.5M
To programs
36%
Net assets
$13.5M
By yearFY2020–FY2024
Revenue
$2.1M
FY2024▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$776K
FY2021$2.2M
FY2022$3.5M
FY2023$6.5M
FY2024$1.8M
FY2024$2.1M
Expenses
$1.5M
FY2024▼ -16%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$1.0M
FY2022$1.3M
FY2023$1.4M
FY2024$1.7M
FY2024$1.5M
Net assets
$13.5M
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$5.7M
FY2022$6.3M
FY2023$11.4M
FY2024$12.4M
FY2024$13.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

36 cents of each dollar spent went to programs.

Program services 36% · $528K Management & general 64% · $931K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

25 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Director (thru 5/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Florida Polytechnic University Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Florida Polytechnic University's mission and operations.

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Provided by the organization

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1 program · $528K · in their own filed words · FY2024
01

The foundation supports florida polytechnic university by securing and managing private philanthropic resources to advance its mission in stem education and innovation. During the year, the foundation funded student scholarships, academic programs, faculty support, and strategic initiatives, while strengthening engagement with alumni…

$528Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 5 grants · $2.2M · 2019–2022
Florida Polytechnic UniversityFY2022$280,218
Florida Polytechnic UniversityFY2021$720,309
Florida Polytechnic UniversityFY2020$699,427
Florida Polytechnic UniversityFY2019$531,797

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$1.7M
Investment incomeLn 3$346K
Money outPt IX
$1.5M
Ln 25
Programscol B$528K
Managementcol C$931K
Owns and owesPt X
$13.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$13.6M
LiabilitiesLn 26$36K
PeoplePt VI, VII
25
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Investment incomeLn 3$346K
Gains on assetsLn 7$53K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$89K
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$7.6M
Land, buildings, equipmentLn 10c$63K
Total assetsLn 16$13.6M
LiabilitiesLn 26$36K
Net assetsLn 32$13.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.0M$1.8M
InvestmentsLn 11–13$6.7M$7.6M
Land, buildings, equipmentLn 10c$0$63K
Total assetsLn 16$12.5M$13.6M
LiabilitiesLn 26$101K$36K
Net assetsLn 32$12.4M$13.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$440K$440K
Accounting feesLn 11c$47K$47K
Lobbying feesLn 11d$215K$215K
Investment management feesLn 11f$26K$26K
Other fees for servicesLn 11g$83K$29K$54K
Office expensesLn 13$19K$19K
TravelLn 17$1K$1K
Depreciation, depletion and amortizationLn 22$11K$11K
InsuranceLn 23$981$981
Other expenses (24a–d)Ln 24$594K$56K$538K
All other expensesLn 24e$21K$3K$19K
Total functional expensesLn 25$1.5M$528K$931K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.8M$1.7M$59K$12.4M 990 PDF
FY2023 $6.5M$1.4M$5.1M$11.4M 990 PDF
FY2022 $3.5M$1.3M$2.2M$6.3M 990 PDF
FY2021 $2.2M$1.0M$1.2M$5.7M 990 PDF
FY2020 $776K$1.0M−$234K$3.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,069,416 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,702,989$1,723,118
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $94,621$346,298
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,797,610$2,069,416
I-13 Grants and similar amounts paidPrior year $516,331$440,204
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,222,436$1,018,927
I-18 Total expensesPrior year $1,738,767$1,459,131
I-19 Revenue less expensesPrior year $58,843$610,285
Part VI · Governance 20 of 21 board members independent, 2 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members20
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $2,069,416 across 6 lines filed
VIII-1d Related organizations$393,573
VIII-1f All other contributions, gifts and grants$1,329,545
VIII-1h Total contributions, gifts and grants$1,723,118
VIII-3 Investment incomeExcluded from tax $293,727$293,727
VIII-7 Net gain or loss on sales of assetsExcluded from tax $52,571$52,571
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $346,298$2,069,416
Part IX · Statement of functional expenses $1,459,131 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $440,204$440,204
IX-11c Accounting feesManagement $47,460$47,460
IX-11d Lobbying feesManagement $215,135$215,135
IX-11f Investment management feesManagement $26,019$26,019
IX-11g Other fees for servicesPrograms $28,725 · Management $54,032$82,757
IX-13 Office expensesManagement $19,270$19,270
IX-17 TravelManagement $1,024$1,024
IX-22 Depreciation, depletion and amortizationManagement $10,569$10,569
IX-23 InsuranceManagement $981$981
IX-24 Other expenses (24a–d)Programs $56,453 · Management $537,951$594,404
IX-24e All other expensesPrograms $2,552 · Management $18,756$21,308
IX-25 Total functional expensesPrograms $527,934 · Management $931,197 · Fundraising $0$1,459,131
Part X · Balance sheet $13,559,811 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $940,978$1,703,036
X-2 Savings and temporary cash investmentsStart of year $77,138$88,784
X-3 Pledges and grants receivableStart of year $4,771,810$4,087,556
X-9 Prepaid expenses and deferred chargesStart of year $73,981$0
X-10c Land, buildings and equipment, netStart of year $0$63,412
X-11 Publicly traded securitiesStart of year $6,663,410$7,617,023
X-16 Total assetsStart of year $12,527,317$13,559,811
X-17 Accounts payable and accrued expensesStart of year $100,540$35,543
X-26 Total liabilitiesStart of year $100,540$35,543
X-27 Net assets without donor restrictionsStart of year $1,807,034$1,840,803
X-28 Net assets with donor restrictionsStart of year $10,619,743$11,683,465
X-32 Total net assets or fund balancesStart of year $12,426,777$13,524,268
X-33 Total liabilities and net assetsStart of year $12,527,317$13,559,811
Part XI · Reconciliation of net assets $13,524,268 net assets at year end
XI-1 Total revenue$2,069,416
XI-2 Total expenses$1,459,131
XI-3 Revenue less expenses$610,285
XI-4 Net assets at start of year$12,426,777
XI-5 Net unrealized gains (losses) on investments$488,761
XI-9 Other changes in net assets−$1,555
XI-10 Net assets at end of year$13,524,268

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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