Overview
What is Fiu Athletics Finance Corporation?
Fiu Athletics Finance Corporation is a Florida-based, nonprofit organization, serving as a direct support unit of Florida International University (FIU). Established with the mission to facilitate financing for projects associated with the FIU Football Stadium, its scope expanded to manage and operate the facility as well. This organization was designated as a university direct support organization by the FIU Board of Trustees, in accordance with Florida Statutes. Operating from Miami, Florida, the corporation plays a crucial role in enhancing FIU's athletics infrastructure and operations, contributing to the overall university experience.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Fiu Athletics Finance Corporation has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in various organizational aspects. The overall score of 73% reflects reasonable performance, particularly in areas like program expenses and financial oversight. Notably, the organization has strong policies in place, such as conflict of interest and whistleblower protections, which highlight its commitment to transparency and governance.
However, several concerns have been raised regarding the governance structure. The organization has no independent board members, which is a significant limitation given the importance of independent oversight in nonprofit management. Additionally, the liabilities to assets ratio has scored poorly, suggesting potential financial instability that could impact its operations and credibility.
While Fiu Athletics Finance Corporation demonstrates a solid commitment to programmatic spending and financial integrity, the lack of independent governance and financial ratios indicates areas where the organization could enhance its practices to build trust and improve overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Fiu Athletics Finance Corporation legitimate?
Fiu Athletics Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fiu Athletics Finance Corporation 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
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Official website here: www.none
What is the mission statement of Fiu Athletics Finance Corporation?
The FIU Athletics Finance Corporation was established with the primary purpose of facilitating financial projects related to the FIU Football Stadium. Initially, its role was to finance the construction of the stadium. Over time, its responsibilities expanded to managing and operating the stadium facilities. As designated by the FIU Board of Trustees as a university direct support organization under Florida Statutes Section 1004.28, the corporation provides direct support in matters related to the stadium's financing and operations.
Official website here: www.none
Who is the CEO of Fiu Athletics Finance Corporation?
Rogelio Tovar is the Director of Fiu Athletics Finance Corporation.
Official website here: www.none
What is the revenue of Fiu Athletics Finance Corporation?
Fiu Athletics Finance Corporation's revenue in 2022 was $5,512,012.
Official website here: www.none
Who are the executives of Fiu Athletics Finance Corporation and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $153,697
- Other: $22,077
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $150,744
- Other: $33,041
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $105,853
- Other: $29,041
- Compensation: $0
- Related: $683,809
- Other: $40,342
- Compensation: $0
- Related: $117,960
- Other: $21,048
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Fiu Athletics Finance Corporation
The Florida International University (FIU) Athletics Finance Corporation was established with a primary objective to facilitate the financing of projects related to the FIU Football Stadium. In its initial role, the corporation directly supports the financial aspects of the construction of the stadium. Beyond this, the organization assumes the responsibility for managing and operating the facility. The FIU Board of Trustees has designated the FIU Athletics Finance Corporation as a University Direct Support Organization under Section 1004.28 Florida Statutes, signifying its significant role in supporting the university's athletic endeavors.
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Impact
October, 2024
Fiu Athletics Finance Corporation plays a crucial role in enhancing the infrastructure and operational capacity of the FIU football stadium. By facilitating the financing of various projects related to the stadium, the organization directly impacts the university's athletic programs, ultimately fostering a stronger sports environment within the institution.
The corporation not only provides essential financial support for the construction and renovation of facilities but also manages the operations of these venues, ensuring they meet the needs of athletes, students, and the larger community. This contributes to the overall experience of both participants and fans, promoting greater engagement and school spirit.
Moreover, its designation as a direct support organization signifies its importance in aligning athletic priorities with the university's broader educational goals. By leveraging financial resources effectively, the Fiu Athletics Finance Corporation directly influences the growth and success of FIU’s athletics, enhancing the reputation of the institution and contributing to the local economy through events and activities held at the stadium.
This information is meant to be a general summary of Fiu Athletics Finance Corporation. 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 2022.
- Investment Income: $4,223
- Program Service Revenue: $1,461,757
- Gross Receipts: $5,512,012
Assets and Liabilities:
- Total Assets: $20,960,698
- Total Liabilities: $24,957,362
- Net Assets: -$3,996,664
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT REVENUE
Revenue
$507,398
SKY SUITE SALES
Revenue
$428,640
SPONSORSHIP REVENUE
Revenue
$296,536
TICKET SALES
Revenue
$229,183
Organization Details
Founding Year
2006
Phone
(305) 348-3758Principal Officer
Rogelio Tovar
Main Address
11200 SW 8TH ST MARC 531, MIAMI, FL, 331992516
Website
www.noneNTEE Category
Code: B11 - Education
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