University of South Florida Foundation

Legal name: University of South Florida Foundation Inc

Overview

Mission

To support the University of South Florida through philanthropy, fostering donor engagement and funding for scholarships, programs, and innovation across all campuses.

What it reported doing in 2024

The foundation serves as the official legal conduit for the acceptance, investment, and distribution of private gifts in support of the activities and programs of the university of south Florida which includes the colleges, campuses, health, athletics, and other appropriate university-related units. Support is given to usf by providing funding for the endowed chairs, grants and student scholarships among other activities.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
590879015
IRS 990 coverage
2011–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Tampa, FL, USA
Phone
(813) 974-2035
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 80
  • Accountability: 87
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 87%; rating input score 87
  • Fundraising efficiency: $34.73 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.7%; rating input score 93; 40th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.9%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 12.58; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 38th percentile among comparable filings

Details

  • What they do: 6 programs and campaigns described on the official site
  • Where the money goes: 68.7% of revenue deployed · 87% of spending went to programs
  • Governance: 38 of 41 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $70.4M in reported program spending
  • Leadership: top reported pay $1.4M · 58 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.8M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 11 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

58 people listed

Highest reported compensation

  • Rhea Law (PRESIDENT, UNIVERSITY OF SOUTH FLORIDA): $1,424,357 total reported compensation
  • Dr Prasant Mohapatra (USF EXEC VP & PROVOST): $832,107 total reported compensation
  • Jay Stroman (SR. VICE PRESIDENT, UNIVERSITY ADVANCEMENT AND CEO, USF FOUNDATION): $825,098 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.