2024-11-13T14:36:54-05:00 2024-03-31 591152714 BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC 8035 SPYGLASS HILL RD MELBOURNE FL 329407984 990 2023-04-01 237442785 VALENCIA COLLEGE FOUNDATION INC VALE 4075823150 1800 SOUTH KIRKMAN ROAD ORLANDO FL 32811 OSCAR CRISTANCHO FOUNDATION CFO 4075823319 2024-11-15 true true ABBEY K REDDEN CPA P00189512 3217572020 2024-09-20 2023 2024-10-15 13:58:12Z JAMES R GALBRAITH 1800 SOUTH KIRKMAN ROAD ORLANDO FL 32811 28071206 false X WWW.VALENCIA.ORG X 1974 FL THE MISSION OF VALENCIA FOUNDATION IS TO SUPPORT THE ACTIVITIES OF VALENCIA COLLEGE IN ORDER TO ENHANCE LEARNING, WORKFORCE TRAINING, AND ECONOMIC DEVELOPMENT. VALENCIA FOUNDATION IS HONORED TO HAVE THE SUPPORT OF DEDICATED INDIVIDUALS AND CORPORATE PARTNERS THAT ENABLE THE FOUNDATION TO PROVIDE SCHOLARSHIPS, TEACHING CHAIRS, AND PROGRAMS FOR VALENCIA COLLEGE. 34 34 0 36 0 4290956 5165722 114116 1 7129228 6053889 94205 161164 11628505 11380776 5486731 6536813 0 1067225 1113411 0 361656 893367 1343092 7447323 8993316 4181182 2387460 108236547 114551094 1984906 619936 106251641 113931158 X THE MISSION OF VALENCIA FOUNDATION IS TO SUPPORT THE ACTIVITIES OF VALENCIA COLLEGE IN ORDER TO ENHANCE LEARNING, WORKFORCE TRAINING, AND ECONOMIC DEVELOPMENT. VALENCIA FOUNDATION IS HONORED TO HAVE THE SUPPORT OF DEDICATED INDIVIDUALS AND CORPORATE PARTNERS THAT ENABLE THE FOUNDATION TO PROVIDE SCHOLARSHIPS, TEACHING CHAIRS, AND PROGRAMS FOR VALENCIA COLLEGE. false false THE FOUNDATION SUPPORTS THE ACTIVITIES OF VALENCIA COLLEGE BY MAKING DIRECT CONTRIBUTIONS TO THE COLLEGE. THE FOUNDATION'S GUIDING PRINCIPLES INCLUDE THE FOLLOWING: (1) TO STEWARD THE RESOURCES ENTRUSTED TO OUR CARE (2) TO MAKE ENHANCEMENTS OF STUDENT LEARNING THE CENTER OF OUR WORK (3) TO PROVIDE OPPORTUNITIES TO INDIVIDUALS WHO MIGHT NOT OTHERWISE BE ABLE TO ATTEND COLLEGE (4) TO INVEST WISELY AND CONSERVATIVELY (5) TO PARTNER WITH THE COLLEGE TO MEET ITS MISSION IN THE COMMUNITY (6) TO COMMUNICATE OPENLY, FREQUENTLY AND HONESTLY WITH OUR CONSTITUENTS (7) TO HONOR THE PRIVACY OF OUR DONORS AND FRIENDS (8) TO ENSURE WE MEET BOTH THE LETTER AND THE SPIRIT OF THE LAWS THAT GOVERN OUR WORK. 3150098 2816813 1 DURING THE YEAR, THE FOUNDATION DISBURSED 6.31 MILLION IN SUPPORT OF STUDENT SCHOLARSHIPS, TEACHING CHAIRS AND VARIOUS COLLEGE PROGRAMS AND INITIATIVES. PROGRAM FUNDING HIGHLIGHTS INCLUDE 1,152,573 FOR HELIOS, 750,000 FOR THE SCHOOL OF NURSING, AND 211,507 FOR THE HORIZON SCHOLARS PROGRAM. 3720000 3720000 THE FOUNDATION AWARDED 3.72 MILLION IN SCHOLARSHIPS TO VALENCIA STUDENTS AND ALUMNI FOR FISCAL YEAR 2024. SCHOLARSHIP FUNDING HIGHLIGHTS INCLUDE 505,138 IN SCHOLARSHIPS TO ASSIST STUDENTS IN THE CONTINUING EDUCATION PROGRAMS, HEART OF UNITED WAY 412,125, AND 462,959 FOR FIRST GENERATION IN COLLEGE STUDENTS. 6870098 true true false true false false false false false true true true false false true true true false false false false false false false true false false true false true false false false false false false false false true false false false false true false false false true 4 0 0 false true CJ false false false true true false false false false false false false false X 34 34 false false false false false false false true true false false true true true true true true true true false FL X X JAMES R GALBRAITH 4075823150 1800 SOUTH KIRKMAN ROAD ORLANDO FL 32811 X JAMES R GALBRAITH INTERIM EXEC 14.00 40.00 X 0 221418 10489 OSCAR CRISTANCHO FOUNDATION C 8.00 40.00 X 0 148428 4971 JANICE ABREW-CORIANO MEMBER 1.00 X 0 0 0 ROBERT AGRUSA MEMBER 1.00 X 0 0 0 WAYMON ARMSTRONG MEMBER 1.00 X 0 0 0 SHARON ARROYO MEMBER 1.00 X 0 0 0 IRIS ARTZE-VEGA MEMBER (NON- 1.00 X 0 0 0 DAVID BERELSMAN BOARD SECRET 1.00 X X 0 0 0 ALAN BYRD BOARD CHAIR 1.00 X X 0 0 0 BRUCE CARLSON MEMBER 1.00 X 0 0 0 DAVE COLLIER MEMBER 1.00 X 0 0 0 KARI CONLEY ADVANCEMENT 1.00 X 0 0 0 STEVEN S DAVIS MEMBER 1.00 X 0 0 0 PATRICIA J ENGFER AUDIT CHAIR 1.00 X 0 0 0 CAROLYN M FENNELL MEMBER 1.00 X 0 0 0 K SUE FOREMAN MEMBER 1.00 X 0 0 0 DARREN HINSHAW MEMBER 1.00 X 0 0 0 JULIO C MARTINEZ JR MEMBER 1.00 X 0 0 0 MICHAEL NICHOLA JR MEMBER 1.00 X 0 0 0 RICHARD T MCCREE JR BOARD DEVELO 1.00 X 0 0 0 LISA MACON MEMBER 1.00 X 0 0 0 MARITZA MARTINEZ-GUERRERO MEMBER 1.00 X 0 0 0 BISHOP DERRICK L MCRAI MEMBER 1.00 X 0 0 0 JEFF MOCK TREASURER/FI 1.00 X X 0 0 0 JOSHUA MURDOCK MEMBER 1.00 X 0 0 0 BROCK NICHOLAS MEMBER 1.00 X 0 0 0 DIANE O'DELL PAST CHAIR 1.00 X X 0 0 0 ROSEMARY O'SHEA MEMBER 1.00 X 0 0 0 BRADLEY PIERCE MEMBER 1.00 X 0 0 0 ALEXANDER POREDA MEMBER 1.00 X 0 0 0 LEE K RAMBEAU MEMBER 1.00 X 0 0 0 NORA RODRIGUEZ-PATTERSON MEMBER 1.00 X 0 0 0 TOUFIC SIMAAN MEMBER 1.00 X 0 0 0 TRACEY STOCKWELL MEMBER (NON- 1.00 X 0 0 0 LENNON CHIP TATUM MEMBER 1.00 X 0 0 0 SHERRI TORRES BOARD VICE C 1.00 X X 0 0 0 BRIAN WEBER MEMBER 1.00 X 0 0 0 CHRIS WHITNEY MEMBER 1.00 X 0 0 0 369846 15460 false true false 308639 4857083 409193 5165722 BUILDING RENTAL INCOME 532000 1 1 1 5392064 5392064 17186464 16524639 661825 661825 661825 317710 165791 151919 OTHER INCOME 9245 9245 9245 11380776 9246 6053889 6532547 6532547 4266 4266 842743 193831 396089 252823 113133 26020 53173 33940 95548 21976 44908 28664 61987 14257 29134 18596 450 450 45500 45500 30000 30000 494723 494723 237088 237088 6546 6546 86771 86771 10831 10831 80093 80093 69005 69005 OTHER OPERATING EXPENSES 177251 177251 COLLEGE AND COMMUNITY 77201 77201 DONOR RECOGNITION 27633 27633 8993316 6870098 1761562 361656 2392438 555571 709304 895625 80899 160971 6712527 4862630 2603062 2603062 2603062 84708858 94572086 10958905 10817579 70554 83570 108236547 114551094 1805473 448063 69109 82331 110324 89542 1984906 619936 X 18697509 16836409 87554132 97094749 106251641 113931158 108236547 114551094 X 2387460 6409349 -1117292 X false true X true X 2810324 2278797 4273893 4290956 5165722 18819692 325608 325608 325608 371627 1348451 3135932 2604405 4599501 4662583 5165722 20168143 20168143 2863223 3267217 8901421 5505411 5392064 25929336 46097479 2656972 0.43750 0.47110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 30000 30000 false SCHEDULE C, PART II-B, LINE 1 VALENCIA COLLEGE FOUNDATION CONTRACTED WITH AN OUTSIDE FIRM TO PROVIDE GOVERNMENT RELATIONS/LOBBYING SERVICES ON BEHALF OF THE FOUNDATION. 83702462 245655 12463239 1455550 318745 1999348 92637713 91586993 209709 -4420018 1323194 288208 2052799 83702462 88705021 198244 5875558 1158555 577529 1455746 91586993 66035930 333565 25065976 1301593 173922 1254935 88705021 74188090 410935 -5721802 1320265 377835 1143193 66035930 0.00300 0.38840 0.60860 false false 2603062 2603062 2603062 SEI STRUCTURED CORE PROPERTY LP 5827596 F SEI STRUCTURED CREDIT FUND, LP 4202117 F SEI GLOBAL PRIVATE ASSETS VI, LP 446563 F SEI ENERGY DEBT FUND, LP 341303 F 10817579 DONOR LIFE INSURANCE PREMIUMS 73541 LIABILITY TO TRUST BENEFICIARY 16001 89542 X 16343900 6409349 -951502 5457847 10886053 494723 494723 11380776 8664383 165791 165791 8498592 494724 494724 8993316 SCHEDULE D, PAGE 2, PART V, LINE 4 THE FOUNDATION'S PRINCIPLE FUNCTION IS TO RECEIVE, HOLD, INVEST AND ADMINISTER CHARITABLE CONTRIBUTIONS FOR VALENCIA COLLEGE. FUNDS CLASSIFIED AS PERMANENTLY RESTRICTED REPRESENT THE NONEXPENDABLE PORTION OF THE FUNDS THAT ARE INVESTED IN PERPETUITY. SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS AN OTHER-THAN-PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE AND FROM STATE INCOME TAXES UNDER SIMILAR PROVISIONS OF THE FLORIDA INCOME TAX CODE. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION IDENTIFIES AND EVALUATES UNCERTAIN TAX POSITIONS, IF ANY, AND RECOGNIZES THE IMPACT OF UNCERTAIN TAX POSITIONS FOR WHICH THERE IS A LESS THAN MORE-LIKELY-THAN-NOT PROBABILITY OF THE POSITION BEING UPHELD WHEN REVIEWED BY THE RELEVANT TAXING AUTHORITY. SUCH POSITIONS ARE DEEMED TO BE UNRECOGNIZED TAX BENEFITS AND A CORRESPONDING LIABILITY IS ESTABLISHED ON THE STATEMENTS OF FINANCIAL POSITION. THE FOUNDATION HAS NOT RECOGNIZED A LIABILITY FOR UNCERTAIN TAX POSITIONS. IF THERE WERE AN UNRECOGNIZED TAX BENEFIT, THE FOUNDATION WOULD RECOGNIZE INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THE FOUNDATION'S OPEN TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY REMAIN OPEN FOR THREE YEARS FROM THE DATE OF FILING. SCHEDULE D, PAGE 4, PART XI, LINE 2D CHANGE IN VALUE OF FLORIDA PREPAID TUITION SCHOLARSHIPS -10,519 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -1,106,774 FUNDRAISING EXPENSES 165,791 SCHEDULE D, PAGE 4, PART XI, LINE 4B EXPENSES INCLUDED WITH REVENUE ON AUDITED FINANCIALS 494,723 SCHEDULE D, PAGE 4, PART XII, LINE 2D FUNDRAISING EXPENSES 165,791 SCHEDULE D, PAGE 4, PART XII, LINE 4B EXPENSES INCLUDED WITH REVENUE ON AUDITED FINANCIALS 494,723 ROUNDING 1 RBB GALA 317710 317710 165791 317710 317710 165791 165791 151919 true UNIVERSITY OF FLORIDA PO BOX 113201 SUITE 1250 GAINESVILLE FL 32611 596002052 GOV 7500 SCHOLARSHIPS ROLLINS COLLEGE 1000 HOLT AVENUE - 2715 WINTER PARK FL 32789 590624440 501C3 14420 SCHOLARSHIPS UNIVERSITY OF CENTRAL FLORIDA 4000 CENTERAL FLORIDA BLVD ORLANDO FL 32816 592924021 GOV 48925 SCHOLARSHIPS FLORIDA PREPAID COLLEGE FOUNDATION 1801 HERMITAGE BLVD SUITE 210 TALLAHASSEE FL 32399 593012202 501C3 665083 PREPAID SCHOLARSHIPS VALENCIA COLLEGE PO BOX 3028 ORLANDO FL 32802 591216316 GOV 5771023 SCHOLARSHIPS/SUPPORT 5 SCHEDULE I, PAGE 1, PART I, LINE 2 VALENCIA COLLEGE FOUNDATION IS COMMITTED TO THE PRINCIPLE OF EQUAL OPPORTUNITY IN EDUCATION AND EMPLOYMENT. WE VALUE THE RICHNESS OF DIVERSITY IN ITS MANY FORMS AND RESPECT THE DIGNITY OF EACH INDIVIDUAL. WE DO NOT PRACTICE UNLAWFUL DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, GENDER, SEXUAL ORIENTATION, RELIGIOUS CREED, DISABLING CONDITION, AGE OR MARITAL STATUS. OUR FOCUS IS TO SUPPORT VALENCIA COLLEGE'S MISSION, AS WE STRIVE TO UNLOCK ACCESS TO LEARNING FOR STUDENTS OF ALL BACKGROUNDS. WE STEWARD THE RESOURCES ENTRUSTED TO OUR CARE, AND MAKE ENHANCEMENT OF STUDENT LEARNING THE CENTER OF OUR WORK. THE FOUNDATION PROVIDES OPPORTUNITIES TO INDIVIDUALS WHO MIGHT NOT OTHERWISE BE ABLE TO ATTEND COLLEGE. WE INVEST WISELY AND CONSERVATIVELY. WE COMMUNICATE OPENLY, FREQUENTLY AND HONESTLY WITH OUR CONSTITUENTS. WE HONOR THE PRIVACY OF OUR DONORS AND FRIENDS. X X X false false false false false false false false false JAMES R GALBRAITH INTERIM EXEC. DIR. 221418 10489 231907 OSCAR CRISTANCHO FOUNDATION CFO 148428 4971 153399 X FLORIDA PREPAID 1 35061 FMV X ADMIN SUPPLIES 1 752 FMV X UNIVERSAL PASS 1 880 FMV X SERVICES 1 372500 FMV false true false FORM 990 - ORGANIZATION'S MISSION THE MISSION OF VALENCIA FOUNDATION IS TO SUPPORT THE ACTIVITIES OF VALENCIA COLLEGE IN ORDER TO ENHANCE LEARNING, WORKFORCE TRAINING, AND ECONOMIC DEVELOPMENT. VALENCIA FOUNDATION IS HONORED TO HAVE THE SUPPORT OF DEDICATED INDIVIDUALS AND CORPORATE PARTNERS THAT ENABLE THE FOUNDATION TO PROVIDE SCHOLARSHIPS, TEACHING CHAIRS, AND PROGRAMS FOR VALENCIA COLLEGE. FORM 990, PART V, LINE 4B CAYMAN ISLANDS FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE CEO AND CFO, AND THEN REVIEWED BY THE AUDIT COMMITTEE WITH THE CPA FIRM. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY DISTRIBUTING THE POLICY FOR REVIEW TO THE BOARD OF DIRECTORS ANNUALLY. EACH MEMBER COMPLETES AN INDIVIDUAL CONFLICT OF INTEREST STATEMENT THAT IS REVIEWED BY THE INTERIM EXECUTIVE DIRECTOR FOUNDATION AND, IF NEEDED, THE EXECUTIVE COMMITTEE. BOARD MEMBERS ARE NOT ELIGIBLE TO PARTICIPATE IN ANY PROPOSAL REQUESTS FOR SERVICES SUCH AS INVESTMENTS, AUDITING, ETC. IF A CONFLICT ARISES, THEN THAT MEMBER NOTES THEIR CONFLICT AND DOES NOT PARTICIPATE IN ANY DISCUSSION AND/OR VOTE. IF NECESSARY, A BOARD MEMBER MAY BE REQUIRED TO RESIGN. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION OF THE FOUNDATION'S PRINCIPAL OFFICER IS REVIEWED BY THE EXECUTIVE COMMITTEE WHEN AN INCREASE ABOVE WHAT IS APPROVED BY THE COLLEGE FOR ALL EMPLOYEES IS BEING CONSIDERED. THEN THE COMMITTEE WOULD REVIEW REQUESTED COMPENSATION RECOMMENDATIONS FROM THE BOARD OF DIRECTORS. ADDITIONALLY THEY WOULD CONSIDER THE SALARIES OF COMPARABLE POSITIONS IN THE INDUSTRY TO PROVIDE GUIDANCE ON AN APPROPRIATE COMPENSATION RANGE. THE FINAL COMPENSATION AMOUNT IS APPROVED BY THE EXECUTIVE COMMITTEE AND THE PRESIDENT OF VALENCIA COLLEGE. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION OF THE FOUNDATION'S PRINCIPAL OFFICER IS REVIEWED BY THE EXECUTIVE COMMITTEE WHEN AN INCREASE ABOVE WHAT IS APPROVED BY THE COLLEGE FOR ALL EMPLOYEES IS BEING CONSIDERED. THEN THE COMMITTEE WOULD REVIEW REQUESTED COMPENSATION RECOMMENDATIONS FROM THE BOARD OF DIRECTORS. ADDITIONALLY THEY WOULD CONSIDER THE SALARIES OF COMPARABLE POSITIONS IN THE INDUSTRY TO PROVIDE GUIDENCE ON AN APPROPIATE COMPENSATION RANGE. THE FINAL COMPENSATION AMOUNT IS APPROVED BY THE EXECUTIVE COMMITTEE AND THE PRESIDENT OF VALENCIA COLLEGE. FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE SPLIT INTEREST AGREEMENT -10,519 CHANGE IN VALUE FL PREPAID TITUITION -1,106,774 ROUNDING 1 TOTAL -1,117,292 VALENCIA COLLEGE PO BOX 3028 ORLANDO FL 32802 591216316 EDUCATION FL GOVERN N/A false false false false false false false false false false true false false false false true true false false false VALENCIA COLLEGE J 1 VALENCIA COLLEGE P 741662 VALENCIA COLLEGE O 372445