2014-04-14T12:56:59-07:00 2013-05-31 ALAN K GEER PA CPAs 7401 Temple Terrace Hwy Suite D Tampa FL 33637 990 2012-06-01 590737882 FLORIDA COLLEGE INC FLOR 8139885131 119 N GLEN ARVEN AVE TEMPLE TERRACE FL 33617 HARRY E PAYNE JR 2014-04-14 true ALAN K GEER CPA P00419050 8139889564 2012 2015-11-30 17:44:51Z 21778673 false false X www.floridacollege.edu X 1946 FL A FULLY ACCREDITED FOUR YEAR LIBERAL ARTS COLLEGE AND ACADEMY FOR GRADES K-9. 16 16 336 300 367712 -23555 5518065 5041696 10557047 11802776 974235 593624 65097 11282 17114444 17449378 2274853 2677673 0 5991516 6208017 0 290602 6176404 6563629 14442773 15449319 2671671 2000059 46925553 48968937 11381635 10635643 35543918 38333294 FLORIDA COLLEGE, AS A PRIVATE, INDEPENDENT LIBERAL ARTS COLLEGE, PROVIDES A COMPREHENSIVE UNDERGRADUATE EXPERIENCE DESIGNED TO DEVELOP STUDENTS SPIRITUALLY, MENTALLY, PHYSICALLY, AND SOCIALLY; TO INTEGRATE INTO THE STUDENTS' LIVES THE BIBLE AS THE REVEALED WILL OF GOD; AND TO PREPARE STUDENTS FOR LIVES OF SERVICE TO THEIR CREATOR AND TO HUMANITY. false false 11886050 2677673 11802776 OPERATION AND MAINTENANCE OF A FULLY ACCREDITED FOUR YEAR LIBERAL ARTS COLLEGE AND ACADEMY FOR GRADES K-9. 11886050 true true false false false false true true true true true false false false true true true false true false false false false false true false false false true false false false false false false false false false false false false true false false false false false false false false false true 33 0 true 336 true true false false false false true true false 0 false false false false false false false false false false X 16 16 true false false false false false false true true false false true true true true true true false false false X X RONALD STACKPOLE 8139885131 119 N GLEN ARVEN TEMPLE TERRACE FL 33617 PAUL W GREIVING 1.00 0.00 X 0 0 0 WILLIAM T SMITH 1.00 0.00 X 0 0 0 STEPHEN T WILSHER 1.00 0.00 X 0 0 0 TIM A SLONE 1.00 0.00 X 0 0 0 CHARLES F NOWLIN SR 1.00 0.00 X X 0 0 0 KEVIN E HYDE 1.00 0.00 X 0 0 0 DANNY L LITTELL 1.00 0.00 X 0 0 0 R DAVID CARROZZA 1.00 0.00 X 0 0 0 PHILIP E FORD 1.00 0.00 X 0 0 0 A WALLACE HAYES 1.00 0.00 X 0 0 0 JOSEPH P HAMMONTREE 1.00 0.00 X 0 0 0 DAVID M COOPER 1.00 0.00 X X 0 0 0 PAUL B COOK 1.00 0.00 X 0 0 0 LARRY R COFFEY 1.00 0.00 X X 0 0 0 J BRADLEY CAVENDER 1.00 0.00 X 0 0 0 DANIEL N BURTON 1.00 0.00 X 0 0 0 OLEN E BRITNELL 1.00 0.00 X 0 0 0 RONALD STACKPOLE 40.00 0.00 X 83683 0 0 HARRY E PAYNE JR 40.00 0.00 X 144397 0 0 DOUGLAS H NORTHCUTT 40.00 0.00 X 87155 0 0 315235 1 false false false CONSTRUCTION ADVISORY SOLUTIONS 1824 VENETIAN POINT DR CLEARWATER FL 33755 PROPERTY MAINTENANCE 552348 CHARTWELLS C/O BANK OF AMERICA ILLINOIS CHICAGO IL 60693 FOOD SERVICES 980300 2 89250 4952446 61819 5041696 TUITION & FEES 611600 8098259 8098259 RESIDENCE HALLS RENTALS 611710 1540255 1540255 FOOD SERVICE 611710 1434822 1434822 BOOKSTORE SALES 451211 729440 361728 367712 11802776 700348 700348 0 0 9608 70 9538 9538 9538 3346075 749504 3214303 988000 131772 -238496 -106724 -106724 75000 89250 126922 -51922 -51922 0 0 MISC INCOME 611710 53666 53666 53666 17449378 12038226 367712 1744 0 2677673 2677673 0 0 315236 157618 98511 59107 0 4771538 3526239 1116830 128469 104280 73734 26058 4488 623549 461717 141690 20142 393414 276015 102796 14603 0 0 33330 33330 0 0 63822 63822 37949 15515 22286 148 6875 6605 270 346627 117626 226771 2230 66754 2641 64113 0 649225 478900 170325 84923 26649 52345 5929 0 96315 49714 46601 476138 323856 152282 0 1011199 733015 277111 1073 346173 212077 134096 MISCELLANEOUS 241300 82517 149283 9500 BOOKSTORE COST OF GOODS SOLD 543119 543119 MAINTENANCE & REPAIR 647708 556293 91415 FOOD SERVICE - FOOD COST 976986 976986 935186 587541 302732 44913 15449319 11886050 3272667 290602 619576 1130620 880051 3413631 3409946 2631468 226521 206824 0 0 536278 576715 265426 238894 207814 200099 36622600 8859860 28787569 27762740 10693296 12047493 1046938 472003 0 0 252138 288450 46925553 48968937 745937 775806 424376 449822 728245 669324 9085326 8472259 397751 268432 11381635 10635643 X 13349983 14074087 6555687 5762102 15638248 18497105 35543918 38333294 46925553 48968937 2000059 789317 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 30 1 false false 150000 X X X false false true X 15638248 1769215 1876451 291351 431635 63823 18497105 15659063 73106 672536 389188 314101 63168 15638248 14388159 142312 1970489 373516 414315 54066 15659063 13287579 150839 1688724 370685 330913 37385 14388159 16755250 116372 -2938320 257985 360932 26806 13287579 1.00000 false false false 270201 270201 28037411 4459978 23577433 3127935 1896416 1231519 5187053 2503466 2683587 27762740 STUDENT PREPAYMENTS AND DEPOSITS 268432 268432 X 18365687 789317 789317 17576370 -126992 -126992 17449378 15576311 126992 126992 15449319 15449319 Part XII, Line 2d Part XII, Line 2d: Other expenses and losses per audited F/S BANQUET EXPENSES NETTED WITH REVENUE $126922 LOSS ON ASSET DISPOSAL NETTED WITH GAIN $0 RENTAL EXPENSES NETTED WITH RENTAL REV $70 Part X Part X : FIN48 Footnote The College qualifies as a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code and has received a determination letter from the Internal Revenue Service stating that it is exempt from federal income taxes, except for taxes on unrelated business income.Income unrelated to the Colleges exempt purpose is subject to federal and state income taxes. The receipt of income from the College bookstore is subject to taxation as unrelated business income (UBI). The College has a UBI net operating loss carry forward resulting from prior years' losses; however, future benefit from this carry forward is expected to be minimal.FASB ASC 740, "Income Taxes," and related subsections prescribe rules for the recognition, measurement, classification, and disclosure in the financial statements of uncertain tax positions taken or expected to be taken in the Colleges tax returns. Management has determined that the College does not have any uncertain tax positions that materially impact the financial statements or related disclosures.Since tax matters are subject to some degree of uncertainty, there can be no assurance that the Colleges tax returns will not be challenged by the taxing authorities and that the College will not be subject to additional tax, penalties, and interest as a result of such challenge, although none is anticipated by management. Generally the Colleges tax returns remain open for federal and state income tax examination for three years from the date of filing. Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. THE ENDOWMENT FUNDS ARE USED FOR OPERATING ACTIVITIES AND SCHOLARSHIPS. Part IV, Line 2b Part IV, Line 2b: Explanation of escrow account liability THE ORGANIZATION HOLDS FUNDS FOR VARIOUS COLLEGE RELATED ORGANIZATIONS AND CLUBS TOTALING $62,186. THE ORGANIZATION ALSO HOLDS PERKINS FEDERAL STUDENT LOAN FUNDS TOTALING $602,772 AND ROTARY LOAN FUNDS TOTALING $4,366. Part III, Line 4 Part III, Line 4: Description of organization's collections and how it furthers its purpose. THE ORGANIZATION'S COLLECTION CONSISTS OF HISTORICAL BOOKS AND LITERATURE IN THE LIBRARY THAT IS AVAILABLE FOR PUBLIC EXHIBITION AND AIDS BIBLICAL AND SCHOLARLY RESEARCH. true true false true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized SCHOOL USES NO NEWSPAPER OR BROADCAST ADVERTISING. Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency STUDENT FINANCIAL AID SUCH AS FEDERAL NDSL (PERKINS) LOAN PROGRAM, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, STAFFORD & PLUS LOANS, AND VARIOUS FLORIDA STATE SCHOLARSHIPS. X X X X X X false FL BUSINESS BANQUET 164250 89250 75000 62662 59888 4372 164250 89250 75000 62662 59888 4372 126922 -51922 true 0 0 STUDENT SCHOLARSHIPS 453 2677673 Grantmaker's Description of How Grants are Used SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON NEED, ACADEMIC PERFORMANCE, AND/OR ENROLLMENT STATUS. SATISFACTORY ACADEMIC PROGRESS (SAP) IS THE MEANS USED TO MONITOR THE SCHOLARSHIPS AWARDED. SAP MEASURES BOTH QUALITATIVE AND QUANTITATIVE PROGRESS. THE AWARDS ARE USED FOR TUITION, ROOM, AND BOARD. X 193 FAIR MKT VALUE X 2 61126 FAIR MKT VALUE X RYOBI TABLE SAW 1 500 FAIR MKT VALUE false false false Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABE TO THE PUBLIC UPON REQUEST. THE 990 IS MADE AVAILABE TO THE PUBLIC THROUGH ANOTHER'S WEBSITE AND UPON REQUEST. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts SECTION 2.2 OF THE POLICY REQUIRES EACH DIRECTOR AND PRINCIPAL OFFICER TO COMPLETE AND SIGN ANNUALLY A CONFLICT OF INTEREST QUESTIONNAIRE AND SUBMIT THAT TO THE CHAIR OF THE BOARD. IN ADDITION, EACH DIRECTOR OR PRINCIPAL OFFICER SHALL DISCLOSE TO THE BOARD OF DIRECTORS ANY CONFLICT OF INTEREST AT ANY TIME SUCH INTEREST BECOMES A MATTER OF BOARD ACTION. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process THE 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY THE CONTROLLER AND THE ACCOUNTANT OF THE SCHOOL BEFORE ITS FINAL COMPLETION. THEN, THE 990 IS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING THE RETURN. Form 990, Part VI, Line 2 Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et ONE BOARD MEMBER IS THE SON-IN-LAW OF ANOTHER BOARD MEMBER.