Florida Agricultural and Mechanical University Foundation Inc
Legal name: Florida Agricultural & Mechanical Univ Foundation Inc
Nonprofit profile at a glance
- EIN
- 596175096
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2008
- Location
- Tallahassee, FL, US
- Phone
- (850) 599-3000
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $29,299,750
- Expenses
- $24,780,902
- Assets
- $226,274,503
- Liabilities
- $4,177,501
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
35 people listed
Highest reported compensation
- Donald Palm (Executive Dir.): $328,013 total reported compensation
- Timothy Beard (Int. Univ. Pres): $167,616 total reported compensation
- Latosha Adams-Francis (Dir. Finance Svcs.): $140,273 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Florida A&M University Foundation, Inc. supports the mission of Florida A&M University by securing and managing private gifts to enhance educational opportunities, research, and public service.
What it reported doing in 2024
University support includes expenses incurred for receipt and administration of funds in support of the schools, colleges, institutes, units and programs of Florida A&M University, to include, but not limited to guest speakers, conference and operational expenses, travel, events and consulting services. University Support also includes faculty and staff support including, but not limited to, salaries, travel, professional development training and seminars/conferences for the University's endowed chairs, professorships, and adjunct faculty and staff.
Operating model
- Revenue model
- Donor-supported. 65% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 58% for direct work, and 42% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 83
- Accountability: 92
- Sustainability: 84
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.2%; rating input score 80
- Program expense ratio: 75.6%; rating input score 76
- Fundraising efficiency: $9.28 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 85.7%; rating input score 86; 19th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 15.4%; rating input score 77; 77th percentile among comparable filings
- Total-asset coverage ratio: 9.13; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 9% per year; rating input score 100; 70th percentile among comparable filings
- Asset growth: 4.9% per year; rating input score 100; 35th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 80.2% of revenue deployed · 75.6% of spending went to programs
- Governance: 24 of 28 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $18.7M in reported program spending
- Leadership: top reported pay $328K · 35 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $976K reported
- Consistency: 40 of 40 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.