First Coast Technical Institute

Nonprofit profile at a glance

EIN
591276697
IRS 990 coverage
2009–2014
Forms available
Form 990 2014
Location
St Augustine, FL, USA
Phone
9045473282
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Official website

Reported finances

Revenue
$9,265,951
Expenses
$9,786,825
Assets
$4,377,433
Liabilities
$952,752

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Sandra Fortner (President)

Highest reported compensation

  • Sandra Fortner (President): $113,506 total reported compensation
  • Jeannie Dopson (CFO): $67,822 total reported compensation
  • Pam Kochanski (Secretary): $41,391 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the First Coast Technical College is to provide career, technical, and adult education to meet the changing needs of students, businesses, and the workforce.

What it reported doing in 2014

Vocational Education- The College is a not-for-profit organization pursuant to Chapter 617, Florida Statutes, the Florida Not-For-Profit Corporation Act, and Sections 1002.33 and 1002.34, Florida Statutes. The governing body of the College is the not-for-profit corporation's Board of Directors (Board), which is composed of no less than five members. Effective July 1, 1999, the College converted from a public school and technical center to a charter school and charter technical career center. The First Coast Technical Institute provides vocational and technical programs such as: Fire Fighting, Culinary Arts, Child Care Management, Air Conditioning and Refrigeration. The Institute's enrollment is approximately 1,007 students.

Operating model

Revenue model
Other-operating. 82% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.6%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: -3.6% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -1.5% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 89% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.7M in reported program spending
  • Leadership: top reported pay $114K · 11 people listed
  • Consistency: 45 of 45 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2009 to 2014
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.