The Florida State University Foundation Inc

Nonprofit profile at a glance

EIN
596152180
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Tallahassee, FL, USA
Phone
8506446000
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$123,882,201
Expenses
$87,562,834
Assets
$1,159,850,643
Liabilities
$24,459,475

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

Leadership & pay

44 people listed

Executive titles in this filing

  • Bridgett Y Birmingham (Trustee/Ex Officio Voting, Faculty Senate President (Partial Year))
  • Richard D McCullough (Trustee/Ex Officio Voting, FSU President)
  • Roxanne M Hughes (Trustee/Ex Officio Voting, Faculty Senate President (New))
  • Marla A Vickers (VP for University Advancement & Foundation President)
  • Michael Hartline (Former Interim Foundation President)

Highest reported compensation

  • Richard D McCullough (Trustee/Ex Officio Voting, FSU President): $1,694,587 total reported compensation
  • Michael Hartline (Former Interim Foundation President): $541,796 total reported compensation
  • Marla A Vickers (VP for University Advancement & Foundation President): $524,866 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 state university foundation enhances the academic mission and vision of Florida state university through its organized fundraising activities and funds management. The fsu foundation accomplishes its mission by fostering relationships with alumni and friends, advocating charitable giving and raising funds on behalf of fsu, soliciting contributions for academic purposes as part of fsu's overall advancement effort, investing and expending funds to meet current and future needs of fsu, and strengthening relationships with donors to fsu.

What it reported doing in 2024

The Florida state university foundation expends funds for purposes that enhance the academic mission of Florida state university. Academic support includes salaries, scholarships & fellowships, research, capital funding, equipment & supplies, travel, and other expenses. This support helps the university's outstanding faculty inspire students, foster and enhance strong academic programs, and serve as a key element to institutional greatness. Eminent scholars and professorships are prestigious positions held by the university's most accomplished faculty. Spending to support these positions means that academic excellence will be maintained. Curriculum development, internships, interdisciplinary work, experiential learning and academic enrichment all require private support.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 63% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 61
  • Accountability: 85
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.6%; rating input score 78
  • Program expense ratio: 63%; rating input score 63
  • Fundraising efficiency: $15.13 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95.2%; rating input score 95; 35th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 90%; rating input score 90; 38th 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: 29.3%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 13.25; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 77.6% of revenue deployed · 63% of spending went to programs
  • Governance: 27 of 30 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $55.2M in reported program spending
  • Leadership: top reported pay $1.7M · 44 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.9M reported
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 17 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.