To promote greater institutional and educational advancement for historically underrepresented groups

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$517K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.1M a year · 21% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$517K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $25.8M in investments, Pt X · Ln 11–13
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $73K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.5M
Spent
$4.0M
To programs
84%
Net assets
$24.6M
By yearFY2021–FY2025
Revenue
$5.5M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$5.5M
FY2022$5.7M
FY2023$4.8M
FY2024$5.3M
FY2025$5.6M
Expenses
$4.0M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$4.0M
FY2022$4.0M
FY2023$4.5M
FY2024$4.5M
FY2025$4.3M
Net assets
$24.6M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$24.6M
FY2022$21.9M
FY2023$24.9M
FY2024$29.1M
FY2025$33.5M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2020.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $3.4M Management & general 16% · $627K Fundraising 0% · $16K

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

12 people listed on the 990; $517K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President & CEO
$237,355Pt VII · Sec A
VP/General Counsel
$190,147Pt VII · Sec A
Controller
$89,789Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Lawrence Moreshouse’s $296K as President & CEO is at the 95th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Dr Lawrence Moreshouse$295,793————
Dr Lawrence Mooreshouse—$253,840$267,906——
Dr Lawrence Morehouse———$260,889$237,355
Lyra Logan$242,559$216,133$205,567$203,728$190,147
Omobola Olulade———$106,960$89,789
Natoya Martin$91,760$71,475$21,923——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Florida Education Fund 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 15aYes

Programs and updates

Advancing education and institutions for historically underrepresented groups.

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Provided by the organization

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3 programs · $3.4M · in their own filed words · FY2020
01

McKnight Doctoral Fellowship Program

Established in 1984, the florida education fund's mcknight doctoral fellowship program has increased the number of african and hispanic americans who have been awarded the PH.D. In historically underrepresented, crucial disciplines and fields of study where african and hispanic americans have not historically enrolled and completed…

$2.5Mprogram expense
02

Centers of Excellence

Established in 1985, the centers of excellence (coe's or centers) are community-based initiatives whose mission is to identify and motivate historically disadvantaged minority elementary and secondary students and ultimately increase the pool of these students motivated and qualified to enter college.

$585Kprogram expense
03

McKnight Junior Faculty Fellowship Program

The mcknight junior faculty fellowship program promotes excellence in teaching and research by underrepresented minorities and women. To improve their chances of earning tenure and promotion, fellows receive a one-year sabbatical with full salary and benefits.

$254Kprogram 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
Total grants receivedfrom 2 funders$73K
Grants paid · 70 grants · $12.0M · 2020–2024
Unitemized GrantFY2024$2,016,162
Unitemized GrantFY2024$30,000
University of Central Florida Center of ExcellenceFY2024$26,000
Tallahassee Area Coalition Center of ExcellenceFY2024$26,000
South Florida Center of ExcellenceFY2024$26,000
Atlantic Coast Center of ExcellenceFY2024$26,000
St Petersburg College Center of ExcellenceFY2024$21,000
Unitemized GrantFY2024$17,627
Palm Beach County Center of ExcellenceFY2024$15,000
Unitemized GrantFY2024$14,400
Santa Fe Community College Center of ExcellenceFY2024$12,960
Pasco-Hernando Center of ExcellenceFY2024$12,500
Unitemized GrantFY2024$2,500
Unitemized GrantFY2023$2,330,179
Unitemized GrantFY2023$60,000
South Florida Center of ExcellenceFY2023$26,000
Atlantic Coast Center of ExcellenceFY2023$26,000
See all 70 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$5.5M
Ln 12
Gifts and grantsLn 1h$4.5M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$3K
Money outPt IX
$4.0M
Ln 25
Programscol B$3.4M
Managementcol C$627K
Fundraisingcol D$16K
Owns and owesPt X
$24.6M
net assets · Ln 32
Cash and savingsLn 1–2$741K
Total assetsLn 16$26.7M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
12
listed · VII A
PaidVII A3
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.5M
Government grantsLn 1e$3.9M
Fees for servicesLn 2g$914
Investment incomeLn 3$1.1M
Other incomeLn 4–11$3K
Gains on assetsLn 7$692K
Total revenueLn 12$5.5M
Assets in detailPt X, end of year
SavingsLn 2$741K
Cash and savings togetherLn 1–2$741K
InvestmentsLn 11–13$25.8M
Land, buildings, equipmentLn 10c$19
Other assetsLn 15$34K
Total assetsLn 16$26.7M
LiabilitiesLn 26$2.1M
Net assetsLn 32$24.6M
OperationsPt I, VI
EmployeesI 58
VolunteersI 620
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$125K$741K
InvestmentsLn 11–13$20.4M$25.8M
Land, buildings, equipmentLn 10c$2K$19
Total assetsLn 16$20.6M$26.7M
LiabilitiesLn 26$1.9M$2.1M
Net assetsLn 32$18.7M$24.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$158K$158K
Grants to domestic individualsLn 2$2.3M$2.3M
Pay of current officers, directors and key staffLn 5$580K$318K$255K$7K
Other salaries and wagesLn 7$327K$295K$28K$4K
Pension plan contributionsLn 8$13K$11K$2K$108
Other employee benefitsLn 9$44K$39K$5K$742
Payroll taxesLn 10$48K$32K$15K$601
Accounting feesLn 11c$37K$29K$7K$369
Investment management feesLn 11f$154K$154K
Other fees for servicesLn 11g$188K$70K$118K$300
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$79K$65K$12K$2K
OccupancyLn 16$110K$89K$21K$1K
TravelLn 17$6K$5K$1K
Conferences, conventions and meetingsLn 19$5K$5K
InterestLn 20$524$400$124
Depreciation, depletion and amortizationLn 22$2K$2K$454$23
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$4.0M$3.4M$627K$16K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.6M$4.3M$1.3M$33.5M 990 PDF
FY2024 $5.3M$4.5M$769K$29.1M 990 PDF
FY2023 $4.8M$4.5M$321K$24.9M 990 PDF
FY2022 $5.7M$4.0M$1.6M$21.9M 990 PDF
FY2021 Viewing $5.5M$4.0M$1.5M$24.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $5,520,418 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,013,460$4,456,743
I-9 Program service revenuePrior year $30,393$914
I-10 Investment incomePrior year $558,902$1,059,904
I-11 Other revenuePrior year $398$2,857
I-12 Total revenuePrior year $4,603,153$5,520,418
I-13 Grants and similar amounts paidPrior year $2,308,970$2,419,373
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,010,902$1,011,567
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $829,097$591,262
I-18 Total expensesPrior year $4,148,969$4,022,202
I-19 Revenue less expensesPrior year $454,184$1,498,216
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,520,418 across 7 lines filed
Lines not itemized here account for $2,857 of total revenue; see the IRS return.
VIII-1e Government grants$3,927,462
VIII-1f All other contributions, gifts and grants$529,281
VIII-1h Total contributions, gifts and grants$4,456,743
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $914$914
VIII-3 Investment incomeExcluded from tax $367,890$367,890
VIII-7 Net gain or loss on sales of assetsExcluded from tax $692,014$692,014
VIII-12 Total revenueRelated to mission $914 · Unrelated business $0 · Excluded from tax $1,062,761$5,520,418
Part IX · Statement of functional expenses $4,022,202 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $158,317$158,317
IX-2 Grants to domestic individualsPrograms $2,261,056$2,261,056
IX-5 Pay of current officers, directors and key staffPrograms $318,097 · Management $255,268 · Fundraising $6,656$580,021
IX-7 Other salaries and wagesPrograms $294,568 · Management $28,069 · Fundraising $4,060$326,697
IX-8 Pension plan contributionsPrograms $11,263 · Management $1,769 · Fundraising $108$13,140
IX-9 Other employee benefitsPrograms $38,639 · Management $4,615 · Fundraising $742$43,996
IX-10 Payroll taxesPrograms $31,732 · Management $15,380 · Fundraising $601$47,713
IX-11c Accounting feesPrograms $29,112 · Management $7,370 · Fundraising $369$36,851
IX-11f Investment management feesManagement $154,007$154,007
IX-11g Other fees for servicesPrograms $69,758 · Management $118,129 · Fundraising $300$188,187
IX-12 Advertising and promotionPrograms $1,407$1,407
IX-13 Office expensesPrograms $65,488 · Management $11,823 · Fundraising $1,566$78,877
IX-16 OccupancyPrograms $88,665 · Management $20,685 · Fundraising $1,093$110,443
IX-17 TravelPrograms $5,076 · Management $1,059$6,135
IX-19 Conferences, conventions and meetingsPrograms $4,541$4,541
IX-20 InterestPrograms $400 · Management $124$524
IX-22 Depreciation, depletion and amortizationPrograms $1,792 · Management $454 · Fundraising $23$2,269
IX-24e All other expensesManagement $8,021$8,021
IX-25 Total functional expensesPrograms $3,379,911 · Management $626,773 · Fundraising $15,518$4,022,202
Part X · Balance sheet $26,650,472 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $125,109$741,060
X-3 Pledges and grants receivableStart of year $45,359$76,032
X-9 Prepaid expenses and deferred chargesStart of year $7,975$7,732
X-10c Land, buildings and equipment, netStart of year $2,288$19
X-11 Publicly traded securitiesStart of year $20,384,795$25,792,087
X-15 Other assetsStart of year $40,224$33,542
X-16 Total assetsStart of year $20,605,750$26,650,472
X-17 Accounts payable and accrued expensesStart of year $844,742$1,178,288
X-19 Deferred revenueStart of year $958,656$896,697
X-24 Unsecured notes and loans payableStart of year $61,976$0
X-26 Total liabilitiesStart of year $1,865,374$2,074,985
X-27 Net assets without donor restrictionsStart of year $18,720,376$24,532,087
X-28 Net assets with donor restrictionsStart of year $20,000$43,400
X-32 Total net assets or fund balancesStart of year $18,740,376$24,575,487
X-33 Total liabilities and net assetsStart of year $20,605,750$26,650,472
Part XI · Reconciliation of net assets $24,575,487 net assets at year end
XI-1 Total revenue$5,520,418
XI-2 Total expenses$4,022,202
XI-3 Revenue less expenses$1,498,216
XI-4 Net assets at start of year$18,740,376
XI-5 Net unrealized gains (losses) on investments$4,336,895
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$24,575,487

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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