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Florida Keys Educational Foundation INC FY2024 filing

Tax-deductible

Key West, FL501(c)(3) EIN 59-6173174Revenue $1.8M in FY2024

On file with the IRScfk.edu5901 College Rd, 33040-4315 · Key West, FLTax-exempt since Jul 1966College/university support org — 170(b)(1)(A)(iv)

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Financial and other support to further the mission and goals of the college of the Florida Keys.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
3 of 5
filings with a surplus
Average surplus $768K a year · 44% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Plus $7.2M in investments, Pt X · Ln 11–13
Looks good: 20.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $387K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$140K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+146% vs prior year
Spent
$682K
To programs
87%
Net assets
$8.6M
By yearFY2021–FY2025
Revenue
$1.8M
FY2024▲ +146%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.0M
FY2022$958K
FY2023$749K
FY2024$1.8M
FY2025$3.1M
Expenses
$682K
FY2024▼ -36%
Tap a bar for its year
Expenses by fiscal year
FY2021$916K
FY2022$1.4M
FY2023$1.1M
FY2024$682K
FY2025$748K
Net assets
$8.6M
FY2024▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2021$7.7M
FY2022$7.5M
FY2023$6.6M
FY2024$8.6M
FY2025$10.9M

From the FY2024 Form 990 (year ending March 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Jul 1966.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $593K Management & general 10% · $66K Fundraising 3% · $23K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Jessica Losardo
Recording Secretary
$0Pt VII · Sec A
Rachel Oropeza
Recording Secretary
$0Pt VII · Sec A
Bruce Halle
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Ferringo
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Florida Keys Educational 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

Provides financial and other support to advance the College of the Florida Keys' mission and goals.

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Provided by the organization

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1 program · $593K · in their own filed words · FY2023
01

Florida keys educational foundation assists in the achievement of the CFK'S mission by soliciting, administering, and optimizing through matching programs the private gifts, bequests, and donations to support CFK'S students and to enhance teaching and learning at the CFK.

$593Kprogram 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
Ocean Reef Community Foundation INCFY2024$158K
Fidelity Investments Charitable Gift FundFY2024$110K
The Hajim Family FoundationFY2024$100K
Florida College System Foundation INCFY2024$20K
Total grants receivedfrom 4 funders$387K
See all 4 funders →
Grants paid · 10 grants · $4.0M · 2020–2024
The College of the Florida KeysFY2024$361,100
Unitemized GrantFY2024$201,892
The College of the Florida KeysFY2023$362,557
Unitemized GrantFY2023$136,757
The College of the Florida KeysFY2022$717,967
Unitemized GrantFY2022$170,295
The College of the Florida KeysFY2021$967,617
Unitemized GrantFY2021$282,708
The College of the Florida KeysFY2020$621,491
Unitemized GrantFY2020$168,582

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$224K
Other incomeLn 4–11$37K
Money outPt IX
$682K
Ln 25
Programscol B$593K
Managementcol C$66K
Fundraisingcol D$23K
Owns and owesPt X
$8.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$8.7M
LiabilitiesLn 26$140K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Noncash giftsLn 1g$63K
Fundraising eventsLn 1c$75K
Investment incomeLn 3$224K
Other incomeLn 4–11$37K
Gains on assetsLn 7$12K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$7.2M
Land, buildings, equipmentLn 10c$44K
Total assetsLn 16$8.7M
LiabilitiesLn 26$140K
Net assetsLn 32$8.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$235K$1.2M
InvestmentsLn 11–13$6.1M$7.2M
Land, buildings, equipmentLn 10c$44K$44K
Total assetsLn 16$6.6M$8.7M
LiabilitiesLn 26$15K$140K
Net assetsLn 32$6.6M$8.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$363K$363K
Grants to domestic individualsLn 2$137K$137K
Accounting feesLn 11c$33K$33K
Lobbying feesLn 11d$67K$67K
Investment management feesLn 11f$32K$32K
Office expensesLn 13$16K$16K$180
Information technologyLn 14$31K$9K$23K
InsuranceLn 23$866$866
Other expenses (24a–d)Ln 24$2K$1K$474
All other expensesLn 24e$61$61
Total functional expensesLn 25$682K$593K$66K$23K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.1M$748K$2.4M$10.9M 990 PDF
FY2024 Viewing $1.8M$682K$1.2M$8.6M 990 PDF
FY2023 $749K$1.1M−$314K$6.6M 990 PDF
FY2022 $958K$1.4M−$427K$7.5M 990 PDF
FY2021 $2.0M$916K$1.1M$7.7M 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 M · Noncash O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,846,783 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $583,913$1,585,540
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $206,604$223,861
I-11 Other revenuePrior year −$41,043$37,382
I-12 Total revenuePrior year $749,474$1,846,783
I-13 Grants and similar amounts paidPrior year $888,263$499,314
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 $175,583$182,454
I-18 Total expensesPrior year $1,063,846$681,768
I-19 Revenue less expensesPrior year −$314,372$1,165,015
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
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
Part VIII · Statement of revenue $1,846,783 across 9 lines filed
VIII-1c Fundraising events$75,243
VIII-1f All other contributions, gifts and grants$1,510,297
VIII-1g Noncash contributions (included above)$63,495
VIII-1h Total contributions, gifts and grants$1,585,540
VIII-3 Investment incomeExcluded from tax $212,147$212,147
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,714$11,714
VIII-8 Net income from fundraising eventsExcluded from tax $34,428$34,428
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,954$2,954
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $261,243$1,846,783
Part IX · Statement of functional expenses $681,768 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $362,557$362,557
IX-2 Grants to domestic individualsPrograms $136,757$136,757
IX-11c Accounting feesManagement $32,764$32,764
IX-11d Lobbying feesPrograms $67,409$67,409
IX-11f Investment management feesManagement $32,101$32,101
IX-13 Office expensesPrograms $16,255 · Management $180$16,435
IX-14 Information technologyPrograms $8,572 · Fundraising $22,587$31,159
IX-23 InsuranceManagement $866$866
IX-24 Other expenses (24a–d)Programs $1,185 · Management $474$1,659
IX-24e All other expensesPrograms $61$61
IX-25 Total functional expensesPrograms $592,796 · Management $66,385 · Fundraising $22,587$681,768
Part X · Balance sheet $8,715,752 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $235,019$1,162,328
X-3 Pledges and grants receivableStart of year $123,714$174,617
X-9 Prepaid expenses and deferred chargesStart of year $40,000$100,000
X-10c Land, buildings and equipment, netStart of year $43,774$43,774
X-11 Publicly traded securitiesStart of year $6,138,728$7,235,033
X-12 Other securitiesStart of year $549$0
X-16 Total assetsStart of year $6,581,784$8,715,752
X-17 Accounts payable and accrued expensesStart of year $9,130$8,162
X-25 Other liabilitiesStart of year $5,950$132,032
X-26 Total liabilitiesStart of year $15,080$140,194
X-27 Net assets without donor restrictionsStart of year $879,022$1,535,238
X-28 Net assets with donor restrictionsStart of year $5,687,682$7,040,320
X-32 Total net assets or fund balancesStart of year $6,566,704$8,575,558
X-33 Total liabilities and net assetsStart of year $6,581,784$8,715,752
Part XI · Reconciliation of net assets $8,575,558 net assets at year end
XI-1 Total revenue$1,846,783
XI-2 Total expenses$681,768
XI-3 Revenue less expenses$1,165,015
XI-4 Net assets at start of year$6,566,704
XI-5 Net unrealized gains (losses) on investments$843,839
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,575,558

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

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