Overview
What is Florida Gulf Coast University Financing Corp?
Florida Gulf Coast University Financing Corp is a nonprofit organization based in Fort Myers, Florida, with the address 10501 FGCU Boulevard South, ZIP code 33965. Its primary objective is to raise funds through bond debt issuance for the construction of student residential housing and related parking facilities at Florida Gulf Coast University (FGCU). The organization's mission involves managing and investing property to exclusively benefit FGCU or affiliated research and development parks. Essentially, they act as a financial arm for FGCU, supporting the growth and development of the university by funding essential infrastructure projects.
Official website here: www.fgcu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Florida Gulf Coast University Financing Corp has received an 81% rating from Charity Navigator, indicating a commendable level of accountability and financial health. The score is derived solely from the Accountability & Finance beacon, showcasing strong governance practices and oversight mechanisms in place. The organization boasts a fully independent board and has established robust policies regarding conflict of interest and whistleblowing, contributing positively to its operational integrity.
Among its notable strengths, the organization excels with a program expense ratio of 99.40%, reflecting that nearly all of its expenses are directed towards its mission-related activities. Additionally, there are no reported material diversions of assets, suggesting sound financial stewardship. The presence of documented board meeting minutes and comprehensive oversight structures further enhance its credibility and transparency.
However, the organization faces challenges in its liabilities to assets ratio, scoring 0 out of 15 points in this area, which may indicate a higher level of financial obligation relative to its assets. This aspect may warrant attention to ensure long-term sustainability. Overall, the Florida Gulf Coast University Financing Corp appears to be well-governed and focused on its mission, despite some financial ratios that need improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Florida Gulf Coast University Financing Corp legitimate?
Florida Gulf Coast University Financing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Florida Gulf Coast University Financing Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.fgcu.edu
What is the mission statement of Florida Gulf Coast University Financing Corp?
The Florida Gulf Coast University Financing Corp was established with the purpose of managing and investing funds for the sole benefit of Florida Gulf Coast University or affiliated research and development parks. Their primary role involves receiving, holding, and administering property, as well as making expenditures to support the university and related entities. The organization's activities encompass issuing bonds to finance construction projects, including student residential housing and related parking facilities, and making various payments and support fees to the University.
Official website here: www.fgcu.edu
Who is the CEO of Florida Gulf Coast University Financing Corp?
David Vazquez is the Directorpresident Of Univers of Florida Gulf Coast University Financing Corp.
Official website here: www.fgcu.edu
What is the revenue of Florida Gulf Coast University Financing Corp?
Florida Gulf Coast University Financing Corp's revenue in 2023 was $19,684,638.
Official website here: www.fgcu.edu
Who are the executives of Florida Gulf Coast University Financing Corp and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $571,904
- Other: $50,685
- Compensation: $0
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fgcu.edu
Where can I find the form 990 for Florida Gulf Coast University Financing Corp?
Florida Gulf Coast University Financing Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fgcu.edu
Learn more at the official website: www.fgcu.edu
Mission Statement of Florida Gulf Coast University Financing Corp
Florida Gulf Coast University Financing Corp, also known as FGCU Financing Corp, is a dedicated organization that exists to support Florida Gulf Coast University (FGCU) and affiliated research and development parks or authorities. By receiving, holding, investing, and administering property, this entity works to make expenditures for the exclusive benefit of FGCU and related research institutions.
The core objective of FGCU Financing Corp is to facilitate development projects for the university. One of their primary functions involves issuing bond debt to finance the construction of student residential housing and related parking facilities. This financial support plays a crucial role in enhancing the university experience for students by providing them with accommodations and essential parking spaces.
In addition to financing university projects, FGCU Financing Corp also contributes to various support fees associated with FGCU. By partnering with the university in this way, the organization plays a pivotal role in advancing the educational institution's growth and development.
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Impact
October, 2024
Florida Gulf Coast University Financing Corp plays a pivotal role in supporting the development and expansion of Florida Gulf Coast University (FGCU) by managing financial resources and facilitating infrastructure projects. The organization is responsible for issuing bond debt to fund the construction of student residential housing and related facilities, ensuring that the university can provide adequate accommodations for its growing student population.
By receiving, holding, and investing property, the Financing Corp effectively channels financial resources into initiatives that directly benefit FGCU and its affiliated research and development entities. This financial stewardship allows the university to enhance its educational environment, promote student success, and stimulate research opportunities within the region.
Moreover, the Financing Corp’s activities contribute to the economic vitality of Fort Myers and the surrounding areas by creating jobs during construction and improving the overall attractiveness of the university as a destination for higher education. The commitment to financing these essential developments underscores the organization’s integral role in the long-term growth and sustainability of FGCU.
This information is meant to be a general summary of Florida Gulf Coast University Financing Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,086,272
- Gross Receipts: $19,684,638
Assets and Liabilities:
- Total Assets: $196,297,307
- Total Liabilities: $155,247,065
- Net Assets: $41,050,242
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Organization Details
Founding Year
2003
Principal Officer
David Vazquez
Main Address
10501 FGCU Boulevard South, Fort Myers, FL, 33965
Website
www.fgcu.eduNTEE Category
Code: T11 - Philanthropy
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