Overview
What is Florida Agricultural & Mechanical Univ Foundation Inc?
Florida Agricultural & Mechanical Univ Foundation Inc is a nonprofit organization located in Tallahassee, Florida, with the address 625 E Tennessee Street Suite 100. Its primary mission is to support Florida A&M University by managing and administering funds for various schools, colleges, institutes, units, and programs within the university. This includes expenses related to guest speakers, conferences, operational costs, travel, events, and consulting services. Additionally, the foundation provides faculty and staff support, such as salaries, professional development training, and seminars/conferences for endowed chairs, professorships, and adjunct faculty and staff. The Foundation's goal is to aid in the advancement of Florida Agricultural and Mechanical University's objectives and purposes.
Official website here: www.famu.edu/index.cfm?givetofamu&foun
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The Florida Agricultural & Mechanical University Foundation Inc has achieved a top rating of 100% from Charity Navigator, reflecting its strong commitment to accountability and financial health. With a perfect score in several key categories, the foundation demonstrates effective governance with 85% independent board members and robust financial oversight, ensuring transparency and responsible resource management.
Organizational strengths include a high program expense ratio of 78.87%, indicating that a significant portion of funds is directed toward its mission-driven activities. The foundation also excels in fundraising efficiency, with a cost of only $0.05 to raise one dollar, showcasing its ability to maximize donor contributions effectively. Furthermore, the absence of material asset diversion and strong financial ratios underline its stability and operational integrity.
While the foundation's performance metrics are impressive, it's essential for potential donors and stakeholders to remain informed about ongoing activities and initiatives. Continuous adherence to best practices in governance and financial management will be crucial for maintaining its high standards and fostering donor trust in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Florida Agricultural & Mechanical Univ Foundation Inc legitimate?
Florida Agricultural & Mechanical Univ Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Florida Agricultural & Mechanical Univ Foundation Inc 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: $549,960
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,803,508
For more financial information, click here
Official website here: www.famu.edu/index.cfm?givetofamu&foun
What is the mission statement of Florida Agricultural & Mechanical Univ Foundation Inc?
The Florida Agricultural & Mechanical Univ Foundation Inc exists to support the goals and objectives of Florida Agricultural and Mechanical University. Through university advancement efforts, the Foundation assists in the receipt and administration of funds that contribute to various aspects of the institution. These funds may be allocated towards expenses related to guest speakers, conferences, operational costs, travel, events, and consulting services. Furthermore, the Foundation provides faculty and staff support, which can include salary compensation, professional development opportunities, and training seminars and conferences for endowed chairs, professorships, and adjunct faculty and staff. In essence, the Florida Agricultural & Mechanical Univ Foundation Inc plays a crucial role in enhancing the University's educational environment and academic pursuits.
Official website here: www.famu.edu/index.cfm?givetofamu&foun
Who is the CEO of Florida Agricultural & Mechanical Univ Foundation Inc?
Shawnta Friday-Stroud is the Principal Officer of Florida Agricultural & Mechanical Univ Foundation Inc.
Official website here: www.famu.edu/index.cfm?givetofamu&foun
What is the revenue of Florida Agricultural & Mechanical Univ Foundation Inc?
Florida Agricultural & Mechanical Univ Foundation Inc's revenue in 2023 was $36,785,750.
Official website here: www.famu.edu/index.cfm?givetofamu&foun
Who are the executives of Florida Agricultural & Mechanical Univ Foundation Inc and what are their salaries?
There 32 volunteers at Florida Agricultural & Mechanical Univ Foundation Inc.
Here are 31 key members and their salaries:
- Compensation: $462,778
- Related: $87,182
- Other: $22,123
- Compensation: $22,670
- Related: $229,251
- Other: $10,986
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Official website here: www.famu.edu/index.cfm?givetofamu&foun
Where can I find the form 990 for Florida Agricultural & Mechanical Univ Foundation Inc?
Florida Agricultural & Mechanical Univ Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.famu.edu/index.cfm?givetofamu&foun
Learn more at the official website: www.famu.edu/index.cfm?givetofamu&foun
Mission Statement of Florida Agricultural & Mechanical Univ Foundation Inc
Florida Agricultural & Mechanical Univ Foundation Inc plays a crucial role in advancing the objectives and purposes of Florida Agricultural and Mechanical University. With a mission to aid in the university's development, the foundation provides essential support for various aspects of the institution.
This nonprofit organization focuses its efforts on university support, which includes managing funds for the schools, colleges, institutes, units, and programs at Florida A&M University. The foundation's activities encompass a wide range of expenses, such as guest speakers, conferences, operational expenses, travel, events, and consulting services. Furthermore, the foundation contributes to faculty and staff support, providing them with valuable resources like salaries, travel opportunities, professional development training, and seminars/conferences for endowed chairs, professorships, and adjunct faculty and staff. Through these endeavors, the Florida Agricultural & Mechanical Univ Foundation Inc is instrumental in enhancing the academic and research capabilities of Florida A&M University.
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Impact
October, 2024
Florida Agricultural & Mechanical University Foundation Inc plays a vital role in enhancing the educational landscape and opportunities at Florida Agricultural and Mechanical University. It advances the university's objectives by providing essential support across various programs and initiatives. This encompasses funding for guest speakers, conferences, operational expenses, and travel for events that enrich the academic environment.
The Foundation also invests in the professional development of faculty and staff, which includes covering expenses related to salaries, training, and participation in seminars and conferences. By supporting endowed chairs and professorships, the Foundation ensures that top-tier educational experiences are available to students, ultimately fostering a robust academic community.
Situated in Tallahassee, FL, the Foundation's impact extends throughout the university, facilitating a comprehensive approach to education that encompasses both student engagement and faculty excellence. This commitment significantly contributes to the university's mission of providing a high-quality education and developing future leaders.
This information is meant to be a general summary of Florida Agricultural & Mechanical Univ Foundation Inc. 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: $8,023,600
- Gross Receipts: $467,784,310
Assets and Liabilities:
- Total Assets: $182,642,574
- Total Liabilities: $1,792,466
- Net Assets: $180,850,108
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Organization Details
Founding Year
1966
Phone
(850) 412-5755Principal Officer
Shawnta Friday-Stroud
Main Address
625 E Tennessee Street Suite 100, Tallahassee, FL, 32308
NTEE Category
Code: B110 - Education
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