| FORM 990 - ORGANIZATION'S MISSION |
THE FOUNDATION PROMOTES THE PRACTICE OF PHILANTHROPY THROUGH PARTNERSHIPS WITH THE COMMUNITY FOR THE ADVOCACY OF HIGHER EDUCATION IN GENERAL AND, SPECIFICALLY AT ST. PETERSBURG COLLEGE (SPC), FOR (1) THE PROVISION OF STUDENT SCHOLARSHIPS, AWARDS AND GRANTS, (2) THE ADVANCEMENT OF TEACHING AND INSTRUCTIONAL SERVICES, (3) NEW AND IMPROVED FACILITIES AND (4) STATE-OF-THE-ART TECHNOLOGY. |
| FORM 990, PAGE 2, PART III, LINE 4A |
THE FOUNDATION HAS OVER 282 NAMED SCHOLARSHIP FUNDS THAT PROVIDE FINANCIAL ASSISTANCE TO SPC STUDENTS. THROUGH THE GENEROSITY OF OUR DONORS, WE HAVE SPECIFIC SCHOLARSHIPS AVAILABLE FOR EVERY AREA OF STUDY INCLUDING (BUT NOT LIMITED TO), NURSING, EDUCATION, STUDY ABROAD PROGRAMS AND FINANCIAL ASSISTANCE FOR OUR RETURNING VETERANS. EACH SCHOLARSHIP HAS UNIQUE AWARDING CRITERIA WHICH MAY INCLUDE FINANCIAL NEED AND/OR ACADEMIC ACHIEVEMENT. COLLEGE EXPENSES HAVE RISEN NEARLY 40% OVER THE LAST DECADE, MAKING THIS THE MOST DIFFICULT TIME IN HISTORY FOR YOUNG PEOPLE TO PAY FOR A COLLEGE EDUCATION, ACCORDING TO THE US DEPARTMENT OF EDUCATION. WITHOUT THE HELP OF FINANCIAL ASSISTANCE, MANY OF OUR STUDENTS WOULD NOT OTHERWISE HAVE THE OPPORTUNITY TO ATTEND COLLEGE. IN 2020-2021, THE FOUNDATION PROVIDED FINANCIAL ASSISTANCE TO MORE THAN 2,994 STUDENTS. THE AVERAGE SCHOLARSHIP AWARD WAS APPROXIMATELY 900. TOTAL AMOUNT OF SCHOLARSHIPS AWARDED WAS APPROXIMATELY 2.6 MILLION. |
| FORM 990, PAGE 2, PART III, LINE 4B |
THE FOUNDATION PROVIDED FUNDING TO ST. PETERSBURG COLLEGE FOR PROGRAM SUPPORT AS WELL AS CAPITAL FACILITY PROJECTS. THE FOUNDATION PROVIDED FINANCIAL SUPPORT FOR THE ARTS BY RAISING FUNDS FOR THE PALLADIUM THEATRE AT ST. PETERSBURG COLLEGE AND THE LEEPA-RATTNER MUSEUM OF ART. THE FOUNDATION ALSO PROVIDED FUNDING FOR THE INSTITUTE FOR STRATEGIC POLICY SOLUTIONS, A DIRECT SUPPORT ORGANIZATION OF THE COLLEGE, FOUNDED IN 2011 TO PROMOTE EDUCATIONAL AND CIVIC ENGAGEMENT BY PROVIDING A FORUM FOR PUBLIC DISCOURSE ON CIVIC MATTERS. IN ADDITION, THE FOUNDATION PROVIDED FINANCIAL SUPPORT FOR NUMEROUS COLLEGE DEPARTMENTS, SUCH AS NURSING, EDUCATION, ENGINEERING, BUSINESS AND TECHNOLOGY, ATHLETICS, COLLEGIATE HIGH SCHOOL AND FINE ARTS. ADDITIONALLY, THE FOUNDATION PROVIDED GRANTS TO FACULTY AND STAFF TO IMPLEMENT PROGRAMS THAT BROADEN THE SCOPE OF THE CURRICULUM AND IMPROVE STUDENT SUCCESS. FOUNDATION FUNDING PROVIDED SUPPORT FOR PROGRAMS SUCH AS WOMEN ON THE WAY AND MALE INITIATIVES. AS THE COLLEGE IDENTIFIED A GAP IN ACHIEVEMENT FOR AFRICAN AMERICAN MALE STUDENTS, THE FOUNDATION PROVIDED SIGNIFICANT SUPPORT TO CLOSE THE GAP AND INCREASE THE GRADUATION SUCCESS RATE FOR AFRICAN AMERICAN MALES. ST. PETERSBURG COLLEGE IS EXPERIENCING DECLINES IN SUPPORT FROM THE STATE OF FLORIDA. ACCORDINGLY, PRIVATE SUPPORT IS AN INCREASINGLY IMPORTANT COMPONENT OF REVENUE TO THE VARIOUS CAMPUSES/DEPARTMENTS. THE FOUNDATION ANTICIPATES A HIGHER RATE OF USE OF FOUNDATION HELD FUNDS IN THE FUTURE AS A RESULT OF DECREASED RESOURCES PROVIDED BY THE STATE. THE FOUNDATION SUPPORTED VARIOUS COLLEGE DEPARTMENTS AND PROGRAMS IN THE AMOUNT OF 1.52 MILLION. |
| FORM 990, PAGE 2, PART III, LINE 4D |
TO PROVIDE GRANTS TO THE LEEPA-RATTNER MUSEUM OF ART FOR PROGRAM SUPPORT. |
| FORM 990, PART V |
LINES 2A AND 2B: THE ORGANIZATION'S PAYROLL IS REPORTED UNDER A RELATED ORGANIZATION; THE ST. PETERSBURG COLLEGE. THERE WERE 10 INDIVIDUALS WHO WORKED FOR THE ORGANIZAITON AND PAID BY THE RELATED ORGANIZATION. ST. PETERSBURG COLLEGE HAS FILED ALL REQUIRED FEDERAL EMPLOYMENT TAX RETURNS. |
| FORM 990, PAGE 6, PART VI, LINE 11B |
PRIOR TO FILING, A DRAFT OF THE 990 TAX FORM IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. IT IS THEN SENT TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR THEIR REVIEW AND INPUT. AT A REGULARLY SCHEDULED MEETING OF THE BOARD IN AUGUST, THE TAX FORM IS PRESENTED TO THE FULL BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 12C |
THE FOUNDATION REQUIRES A CONFLICT OF INTEREST CERTIFICATION FROM EACH BOARD OF DIRECTOR ANNUALLY, WHICH DISCLOSES POTENTIAL CONFLICTS OF INTEREST. THE REPLIES ARE REVIEWED BY THE BOARD SECRETARY AND BUSINESS MANAGER. A DISCLOSED CONFLICT WOULD BE REPORTED TO THE BOARD AND HANDLED ACCORDINGLY. |
| FORM 990, PAGE 6, PART VI, LINE 15A |
COMPENSATION FOR THE EXECUTIVE DIRECTOR OF THE ST. PETERSBURG COLLEGE FOUNDATION, INC. IS BASED ON THE ST. PETERSBURG COLLEGE CLASSIFICATION AND SALARY SCHEDULE, WHICH INCLUDES RANGES FOR EACH GRADE, INCLUDING THIS POSITION. |
| FORM 990, PAGE 6, PART VI, LINE 15B |
COMPENSATION FOR KEY EMPLOYEES OF ST. PETERSBURG COLLEGE FOUNDATION, INC. IS BASED ON THE ST. PETERSBURG COLLEGE CLASSIFICATION AND SALARY SCHEDULE, WHICH INCLUDES RANGES FOR EACH GRADE, INCLUDING THESE POSITIONS. |
| FORM 990, PAGE 6, PART VI, LINE 19 |
ALL OF THE ST. PETERSBURG COLLEGE FOUNDATION, INC. DOCUMENTS (INCLUDING GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY) ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH UNDER IRC SECTION 6104(D). WE POST OUR FINANCIAL STATEMENTS ON OUR WEBSITE AND ON GUIDESTAR.COM. |
| FORM 990, PART XI, LINE 9 |
THE PRIOR PERIOD ADJUSTMENT OF -1,033,730 IS RELATED TO A CHANGE IN ACCOUNTING METHOD FOR REVENUE RECOGNITION IN THE FISCAL YEAR ENDING 3/31/2020. |
Attach to Form 990 or 990-EZ.