New College Foundation Inc

Nonprofit profile at a glance

EIN
590911744
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Sarasota, FL, USA
Phone
9414874801
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Reported finances

Revenue
$14,077,675
Expenses
$4,901,556
Assets
$57,947,210
Liabilities
$1,023,154

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

Leadership & pay

18 people listed

Executive titles in this filing

  • Sydney Gruters (NCF Executive Director)

Highest reported compensation

  • Sydney Gruters (NCF Executive Director): $270,385 total reported compensation
  • Christie Fitz-Patrick (Treasurer; Chief of Staff New College): $247,004 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 mission of New College Foundation is to support the priorities of New College of Florida, Florida's designated honors college. This is accomplished by securing funds as a result of cultivating and stewarding individuals, foundations, and corporations and through the prudent management of assets.

What it reported doing in 2024

The New College Foundation provides scholarship support to New College students, helping them to attend New College of Florida. The financial support the students receive allows them to experience a personalized approach to their education and enables these academically talented students to thrive and realize their full potential, preparing them to assume leadership roles in their scholarly, civic, artistic, and commercial endeavors.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 81
  • Accountability: 92
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.3%; rating input score 65
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $24.9 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • 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: 94.1%; rating input score 94; 27th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 65.2%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 11.82; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 6.3%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 65.3% of revenue deployed · 81% of spending went to programs
  • Governance: 16 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4M in reported program spending
  • Leadership: top reported pay $270K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $486K reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.