Florida Press Foundation Inc

Nonprofit profile at a glance

EIN
592449377
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2012, Form 990-N 2023
Location
Lake Mary, FL, USA
Phone
3212835264
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$166,667
Expenses
$209,828
Assets
$546,544
Liabilities
$115,048

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • GERRY MULLIGAN (PRESIDENT)

Highest reported compensation

  • KAREN TOWERS (DIRECTOR): $34,852 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 press foundation is a non-profit organization affiliated with the Florida press association. The foundation's mission is to create and promote lifelong educational programs that begin in elementary school promoting literacy and encouraging the use of media, continue through college with internship programs, and then culminate in career training and development forums for industry professionals.

What it reported doing in 2024

Fpf works closely with the Florida press association to conduct a two day convention for the association members with programs designed to promote high standards of journalism. This convention offers knowledgeable speakers and presentations with information members can take home and use to make their newspaper and business better.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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

SUPPORTED - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 27
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.7%; rating input score 93
  • Program expense ratio: 73.6%; rating input score 74
  • Fundraising efficiency: $2.31 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -25.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 2.6; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.7% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 92.7% of revenue deployed · 73.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $154K in reported program spending
  • Leadership: top reported pay $35K · 8 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.