2024-09-13T08:17:49-04:00 2024-06-30 592309183 HSCTuscan & Company PA 1470 Royal Palm Square Blvd Fort Myers FL 33919 990 2023-07-01 113685135 Florida Gulf Coast University Financing Corp FLOR 10501 FGCU Boulevard South Fort Myers FL 33965 David Vazquez Executive Direc 2395901215 2024-08-14 true true Jeffrey M Tuscan CPA P00184439 2399392233 2024-08-14 2023 2024-08-08 14:25:15Z David Vazquez 19225027 false X www.fgcu.edu X 2003 FL The Organization was established to receive, hold, invest, and administer property and to make expenditures to or for the exclusive benefit of FGCU or a research and development park or research and development authority affiliated with the University. 7 6 0 0 0 18598366 17369330 0 1086272 1855697 0 19684638 19225027 0 0 0 0 0 18762148 23681314 18762148 23681314 922490 -4456287 196297307 184581339 155247065 147987384 41050242 36593955 The Organization was established to receive, hold, invest, and administer property and to make expenditures to or for the exclusive benefit of FGCU or a research and development park or research and development authority affiliated with the University. false false 23417656 Contract for the design and construction of student residential housing and related parking. Issues bond debt to finance such construction. Also the payment of various other support fees of the University. 23417656 true false false false false false false false false false false false true false false true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false true false true 0 0 0 false false false false false false false false false false false false false false false false false X 7 6 false false false false false false false true true false false true true true true true true true true false FL X X Office of the Controller 2395901215 10501 FGCU Blvd South Fort Myers FL 33965 X Michael Martin DirectorPresident of Univers 5.00 0.00 X 0 574229 30295 Aysegul Timur DirectorPresident of Univers 5.00 0.00 X X 0 410487 59128 Richard Eide Director 5.00 0.00 X 0 0 0 James Knupp Director 5.00 0.00 X 0 0 0 Martin Wasmer Director 5.00 0.00 X 0 0 0 Stephen McIntosh DirectorSecretary 5.00 0.00 X X 0 0 0 Joseph Catti DirectorChairman 5.00 0.00 X X 0 0 0 Larry Hart DirectorTreasurer 5.00 0.00 X X 0 0 0 David Vazquez Executive Director 40.00 0.00 X 0 0 0 0 984716 89423 0 true true false 17369330 17369330 1855697 1855697 19225027 0 0 1855697 5970580 5970580 235850 235850 Lease Amortization 7706697 7706697 Net Bond Premium Amortiz -917328 -917328 Transfers to University 7162705 7162705 Contributions-SoVi Boardwalk 3294761 3294761 228049 200241 27808 23681314 23417656 263658 0 714325 687700 12156 11441 195362343 183542042 208483 340156 196297307 184581339 3169781 3669557 534156 497027 143843128 136620800 7700000 7200000 155247065 147987384 X 41050242 36593955 41050242 36593955 196297307 184581339 -4456287 0 X false true X true false X 18356300 19667409 19051613 18598366 17369330 93043018 18356300 19667409 19051613 18598366 17369330 93043018 93043018 1059853 549760 275709 1086272 1855697 4827291 97870309 0.95070 0.96230 X Investment State Treasury 485909 C Investment in DFL 145343756 C Investment State Treasury R 2000000 C Investment State Treasury DR 522380 C Investment US Securities 18355873 C Investment in FL Prime 16834124 C 183542042 Interest Receivable 340156 340156 X 19225027 19225027 19225027 23681314 23681314 23681314 Footnote for uncertain tax position under FIN 48 (Part X) The Financing Corporation is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and is organized exclusively for scientific, educational, and charitable purposes. The Financing Corporation is not classified as a private foundation within the meaning of Section 509(a) of the Code but is a Corporation described under Section 509(a)(3). The informational returns (Form 990) for the prior three (3) fiscal years are open and subject to possible examination. The Financial Accounting Standards Board has issued guidance on accounting for uncertainty in income taxes and the Financing Corporation has adopted this guidance. The Financing Corporation has evaluated its tax positions and any estimates utilized in its tax returns, and concluded that it has taken no uncertain tax positions that require adjustments to the financial statements to comply with the provisions of this guidance. Interest and penalties associated with uncertain tax positions will be recognized in income tax expense, if required. false false false false false false false false false Michael Martin DirectorPresident of University 206879 233333 134017 18475 11820 604524 Aysegul Timur DirectorPresident of University 364287 46200 35740 23388 469615 A See Attached PDF 000000000 2007-08-01 false false false Form 990 governing body review Part VI line 11 Form 990 tax return is reviewed by University Office of the Controller. After review it is forwarded to the Board of Directors for review and approval prior to filing. Conflict of interest policy compliance Part VI line 12c The Board of Directors are responsible for monitoring the Conflict of Interest Policy. CEO executive director top management comp Part VI line 15a Salary is determined by the President of the University in consultation with the Chair of the Board of Directors. Normally follows University pay increases. The Executive Director of the Florida Gulf Coast University Financing Corporation is a University employee. Other officer or key employee compensation Part VI line 15b Salary is determined by the President of the University in consultation with the Chair of the Board of Directors. Normally follows University pay increases and is paid and recorded as university expenses. Governing documents etc available to public Part VI line 19 The Organization makes its governing documents, conflict of interest policy, financial statements and Form 990 available to the public upon request. Part VI response or note to any other line in Part VI There are 7 voting members listed on part VI Section A but only 6 are independent. Aysegul Timur receives wages from a realted organization, The University. Part VII response or note to any other line in Part VII Aysegul Timur replaced Michael Martin as The Univeristy President during the fiscal year end. Florida Gulf Coast University 10501 FGCU Blvd S Fort Myers FL 33965 650753801 State Public University FL 115 N/A false false false false false false false false false false false true false false false false false false true false Florida Gulf Coast University k 17369330 Cost Florida Gulf Coast University r 7162705 Cost