2025-10-17T11:41:00-05:00 2025-03-31 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2024-04-01 596173174 FLORIDA KEYS EDUCATIONAL FOUNDATION INC FLOR 3058093214 5901 COLLEGE ROAD KEY WEST FL 33040 LANA GASPARI EXECUTIVE DIRECTOR 3058093214 2025-10-16 1 1 TINA HENTON P00630282 4078021200 2025-10-16 2024 2025-03-06 01:10:19Z CFK FOUNDATION LANA GASPARI 5901 COLLEGE ROAD KEY WEST FL 33040 5466177 0 X WWW.CFK.EDU X 1966 FL FINANCIAL AND OTHER SUPPORT TO FURTHER THE MISSION AND GOALS OF THE COLLEGE OF THE FLORIDA KEYS. 12 12 0 13 0 0 1585540 2754358 0 0 223861 332871 37382 14139 1846783 3101368 499314 579536 0 0 0 0 0 0 0 182454 168056 681768 747592 1165015 2353776 8715752 10902273 140194 34549 8575558 10867724 TO PROVIDE FINANCIAL AND OTHER ESSENTIAL SUPPORT TO FURTHER THE MISSION AND GOALS OF THE COLLEGE OF THE FLORIDA KEYS (CFK). 0 0 678426 579536 FLORIDA KEYS EDUCATIONAL FOUNDATION ASSISTS IN THE ACHIEVEMENT OF THE CFK'S MISSION BY SOLICITING, ADMINISTERING, AND OPTIMIZING THROUGH MATCHING PROGRAMS THE PRIVATE GIFTS, BEQUESTS, AND DONATIONS TO SUPPORT CFK'S STUDENTS AND TO ENHANCE TEACHING AND LEARNING AT THE CFK. 678426 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X HEATHER MARGIOTTA 3058093178 5901 COLLEGE ROAD KEY WEST FL 33040 LANA GASPARI EXECUTIVE DIRECTOR 0.91 36.59 X 0 109530 23005 JESSICA LOSARDO RECORDING SECRETARY 1.32 X X 0 0 0 BRUCE HALLE TREASURER 0.13 X X 0 0 0 ROBERT STOKY CHAIR 0.05 X X 0 0 0 LISA FERRINGO VICE CHAIR 0.13 X X 0 0 0 KIM FOWLER DIRECTOR (AS OF 10/24) 0.05 X X 0 0 0 MARISSA OWENS DIRECTOR 0.12 X X 0 0 0 ALAN BEAUBIEN DIRECTOR 0.06 X 0 0 0 DALE CHASTEEN DIRECTOR 0.09 X 0 0 0 CARRIE GROOMES DIRECTOR 0.05 X 0 0 0 WILLIAM LAY DIRECTOR 0.00 X 0 0 0 DEBRA LEONARD DIRECTOR 0.10 X 0 0 0 MIKE PUTO DIRECTOR 0.11 X 0 0 0 JOHN PARCE DIRECTOR (THRU 04/24) 0.19 X 0 0 0 0 109530 23005 0 0 0 0 0 89067 2665291 64742 2754358 311673 311673 2344256 2323058 21198 21198 21198 55890 89067 41751 14139 14139 3101368 0 0 347010 361100 361100 218436 218436 220 220 36105 36105 53390 53390 32308 32308 17514 17367 147 22482 22482 HOSPITALITY EXPENSES 4786 4786 MISCELLANEOUS EXPENSES 648 648 TAXES & FEES 275 275 BOARD EXPENSES 217 217 111 111 747592 678426 69166 0 1162328 837621 174617 1446039 100000 100000 70969 27195 43774 43774 7235033 8474839 8715752 10902273 8162 3520 132032 31029 140194 34549 X 1535238 1424385 7040320 9443339 8575558 10867724 8715752 10902273 X 2353776 -57597 -4013 X 0 1 X 1 0 X 1836089 720281 583913 1585540 2754358 7480181 1836089 720281 583913 1585540 2754358 7480181 319416 7160765 114571 237169 211543 212147 311673 1087103 25118 54855 58401 66449 55890 260713 8827997 0.81110 0.76170 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING REVENUE - 2020 AMOUNT: $ 25,118. 2021 AMOUNT: $ 54,855. 2022 AMOUNT: $ 58,401. 2023 AMOUNT: $ 63,495. 2024 AMOUNT: $ 55,890. MISCELLANEOUS INCOME - 2023 AMOUNT: $ 2,954. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 52590 0 0 52590 0 PART II-B, LINE 1G IDENTIFICATION OF LEGISLATIVE PRIORITIES, FORMULATION OF STRATEGY, RESEARCH, PROVIDING TESTIMONY OR OTHER INFORMATION TO COMMITTEES OR OFFICIALS, COMMUNICATIONS WITH ELECTED OFFICIALS AND STAFF ON BEHALF OF THE CFK AND REPORTING ON THE STATUS OF WORK PENDING ISSUES TO THE CFK FOR FULL SERVICE LEGISLATIVE LOBBYING. 6809119 1972937 240067 115901 31955 8874267 4887526 1220890 800228 67465 32060 6809119 5374517 2320 -299502 157846 31963 4887526 5089362 92933 331664 103800 35642 5374517 3593587 23990 1521366 26761 22820 5089362 0.20937 0.00000 0.79063 0 0 43774 43774 27195 27195 0 43774 DUE TO RELATED PARTY 31029 31029 X 3053214 -57597 -57597 3110811 32308 -41751 -9443 3101368 761048 45764 45764 715284 32308 32308 747592 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS PRIMARILY OF FUNDS ESTABLISHED BY DONORS AND THE BOARD OF DIRECTORS IN PRIOR YEARS THROUGH DONATIONS AND THE GROWTH OF THOSE FUNDS OVER THE YEARS. AS OF MARCH 31, 2025 AND 2024, THE FOUNDATION'S ENDOWMENT INCLUDED 34 AND 30, RESPECTIVELY, INDIVIDUAL FUNDS ESTABLISHED FOR THE PURPOSES OF SCHOLARSHIPS AND COLLEGE SUPPORT AND 1 FOR OPERATING SUPPORT IN 2025 AND 2024. THESE FUNDS INCLUDE DONOR-RESTRICTED AND BOARD-DESIGNATED QUASI ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE FOUNDATION IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A)(1) OF THE IRC IS SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION CURRENTLY HAS NO UNRELATED BUSINESS TAXABLE INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES -41,751. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 41,751. BAD DEBT 4,013. SEA SIDE SOIREE 128367 81127 47240 6695 23125 2400 4515 SPEAKEASY 16590 7940 8650 3880 1136 144957 89067 55890 6695 27005 2400 5651 41751 14139 1 THE COLLEGE OF THE FLORIDA KEYS 5901 COLLEGE ROAD KEY WEST FL 33040 591209209 STATE OF FLORIDA 361100 0 N/A N/A PROGRAM SUPPORT 1 SCHOLARSHIPS 129 201892 N/A N/A PART I, LINE 2: COORDINATOR USES EXCEL SHEETS FOR TRACKING AND THE ACCOUNTANT USES ACCOUNTING SYSTEM FOR VERIFICATION OF TRANSACTIONS. SCHOLARSHIP AWARD PROCESS IS MAINTAINED IN SCHOLARSHIP SOFTWARE SYSTEM. ADDITIONAL EXCEL REPORTS ARE CROSS CHECKED AGAINST ACCOUNTING SYSTEM FOR VERIFICATION OF AWARDS DISBURSED. X AUCTION ITEMS 65 64742 DONOR REPORTED VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE INVESTMENT/FINANCE COMMITTEE IS RESPONSIBLE FOR DEVELOPING AN INVESTMENT POLICY TO GUIDE AND MONITOR FOUNDATION INVESTMENTS. ADDITIONALLY, THIS COMMITTEE MAY REVIEW THE BUDGET PREPARED BY THE EXECUTIVE DIRECTOR AND MONITOR THE ACTUAL REVENUE AND EXPENDITURES TO THE BUDGET. THE INVESTMENT/FINANCE COMMITTEE ALSO SERVES AS THE AUDIT REVIEW COMMITTEE AND, AS SUCH, IS RESPONSIBLE FOR REVIEWING THE AUDIT RESULTS AND PRESENTING THESE RESULTS AND/OR RECOMMENDATIONS TO THE BOARD OF DIRECTORS FOR ACTION. THE NOMINATING AND GOVERNANCE COMMITTEE IS RESPONSIBLE FOR EVALUATING THE BOARD AND IDENTIFYING OPPORTUNITIES TO MAKE THE BOARD MAXIMALLY EFFECTIVE. THIS COMMITTEE IDENTIFIES AND NOMINATES POTENTIAL NEW DIRECTORS WHO WILL POSITIVELY CONTRIBUTE TO THE BOARD'S MISSION. THIS COMMITTEE REVIEWS ATTENDANCE AND PERFORMANCE OF DIRECTORS AND RECOMMENDS OFFICERS AND COMMITTEE DIRECTORS ON AN ANNUAL BASIS TO THE BOARD OF DIRECTORS FOR ACTION. THE COMMITTEE ANNUALLY REVIEWS THE POLICIES AND PROCEDURES OF THE FOUNDATION AND PERIODICALLY REVIEWS THE BYLAWS TO RECOMMEND APPROPRIATE REVISIONS TO THE BOARD OF DIRECTORS FOR ACTION. ALL COMMITTEES ARE COMPOSED OF MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE FORM IS THEN DISTRIBUTED TO THE EXECUTIVE DIRECTOR AND TREASUER FOR REVIEW. ONCE APPROVED, IT IS PRESENTED TO THE ENTIRE BOARD FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IN CASE OF ANY SUCH CONFLICT OR THE APPEARANCE THEREOF, AFFILIATED PERSONS ARE EXPECTED TO DISCLOSE THE CONFLICT IN ADVANCE. ONCE SUCH A DISCLOSURE HAS BEEN MADE, EITHER THE DISINTERESTED DIRECTORS OR THE EXECUTIVE DIRECTOR (ASSUMING HE OR SHE IS DISINTERESTED) OR THE CHAIR (ASSUMING HE OR SHE IS DISINTERESTED) OF THE FOUNDATION SHALL DETERMINE WHETHER OR NOT THERE IS A POTENTIAL CONFLICT OF INTEREST. IF IT IS DETERMINED THAT THERE IS A POTENTIAL CONFLICT OF INTEREST, THE AFFILIATED PERSON INVOLVED SHALL ABSTAIN FROM VOTING AND SHALL NOT PARTICIPATE IN THE DISCUSSION OF THE MATTER AT ISSUE EXCEPT TO STATE BRIEFLY HIS OR HER POSITION IN THE MATTER AND TO ANSWER SPECIFIC QUESTIONS OF OTHER AFFILIATED PERSONS. WHENEVER ANY PERSON ABSTAINS FROM VOTING OR RECUSES HIMSELF OR HERSELF AS A RESULT OF A CONFLICT OF INTEREST OR THE APPEARANCE THEREOF, THE MINUTES OF THE MEETING OR THE PROCEEDINGS OF THE FOUNDATION SHALL REFLECT THE ABSTENTION OR RECUSAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -4,013. THE COLLEGE OF THE FLORIDA KEYS 5901 COLLEGE ROAD KEY WEST FL 33040 591209209 EDUCATIONAL INSTITUTE FL 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 THE COLLEGE OF THE FLORIDA KEYS P 646000 CASH PAID THE COLLEGE OF THE FLORIDA KEYS B 361100 CASH PAID THE COLLEGE OF THE FLORIDA KEYS C 49000 CASH RECEIVED