Nonprofit · EIN 59-1990323
LAKE SUMTER STATE COLLEGE FOUNDATION INC
Tax-exempt · LEESBURG, FL 34788
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,518,258 | $2,492,102 | $3,026,156 | $34,929,156 | $1,988,810 | $32,940,346 |
| December 31, 2023 | 990 | $4,073,247 | $2,411,918 | $1,661,329 | $30,852,386 | $2,591,476 | $28,260,910 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,018,323
- Program service revenue
- $0
- Investment income
- $3,279,509
- Net gain from sales of assets
- $2,528,815
- Net income from fundraising events
- $220,426
- Other revenue
- $220,426
Expenses
- Grants and similar amounts paid
- $2,069,311
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Travel
- $115
- Program services (functional)
- $2,069,311
- Management and general (functional)
- $422,791
Balance sheet and other
- Total assets, start of year
- $30,852,386
- Total assets, end of year
- $34,929,156
- Total liabilities, end of year
- $1,988,810
- Net assets, end of year
- $32,940,346
- Land, buildings and equipment
- $13,900
- Publicly traded securities
- $29,932,173
- Gross receipts
- $25,126,982
- Employees
- 0
- Volunteers
- 272
- Year formed
- 1980
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR HEATHER BIGARD | LSSC PRES THRU 8/30/24 Trustee or director | 2 | $0 | $361,012 | $137,336 |
| DR LAURA BYRD | INTERIM LSSC PRES /EXEC DIRECTOR/SEC Officer | 40 | $0 | $198,842 | $84,875 |
| CHRISTOPHER LEIBNER | FACULTY LIAISON THRU 8/21/24 Trustee or director | 2 | $0 | $94,922 | $14,079 |
| SYBIL BROWN | FACULTY LIAISON FROM 8/13/24 Trustee or director | 2 | $0 | $77,215 | $9,286 |
| LORI DAVIS | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| GRANT GANNAWAY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| JOSH GONZALES | PRESIDENT - ELECT Trustee or director, Officer | 2 | $0 | $0 | $0 |
| SHAYNA GRUNEWALD | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| ANGIE LANGLEY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| KIMBERLY LARGEY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| JENNIFER MENDEZ | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| MICHELLE MICHNOFF | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 | $0 |
| SHERI OLSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| SHAHANAZ RAHAMAN | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| LESLIE ROTARIUS | VICE PRESIDENT Trustee or director, Officer | 2 | $0 | $0 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARL SPECCI | BOARD MEMBER Trustee or director | 2 | $0 |
| SARAH UHRIK | TREASURER Trustee or director, Officer | 2 | $0 |
| DANIEL WHITEHOUSE | BOARD MEMBER Trustee or director | 2 | $0 |
| ALISE MORRIS | BOARD MEMBER Trustee or director | 2 | $0 |
| JEFF POWELL | BOARD MEMBER Trustee or director | 2 | $0 |
| MEGAN ROBINSON | BOARD MEMBER Trustee or director | 2 | $0 |
| JESSICA WHITEHOUSE | BOARD MEMBER Trustee or director | 2 | $0 |
| JENNA EMERSON | BOARD MEMBER Trustee or director | 2 | $0 |
| DAVID HIDALGO | TRUSTEE LIAISON Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR HEATHER BIGARD | LSSC PRES Trustee or director | 2 | $0 | $281,302 | $208,277 |
| DR LAURA BYRD | EXEC DIRECTO Officer | 40 | $0 | $159,176 | $69,045 |
| CHRISTOPHER LEIBNER | FACULTY LIAI Trustee or director | 2 | $0 | $69,237 | $20,161 |
| MARILYN BUDZYNSKI | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| DOUG CHILDERS | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| JOHN CHRISTIAN | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| NANCY CLUTTS | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| LORI DAVIS | PAST PRESIDE Trustee or director, Officer | 2 | $0 | $0 | $0 |
| GRANT GANNAWAY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| JOSH GONZALES | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| SHAYNA GRUNEWALD | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| MICHAEL JOHNSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| ANGIE LANGLEY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| KIMBERLY LARGEY | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| JENNIFER MENDEZ | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| MICHELLE MICHNOFF | PRESIDENT EL Trustee or director, Officer | 2 | $0 | $0 | $0 |
| GREG MORRELL | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 | $0 |
| TIMOTHY MORRIS | TRUSTEE LIAS Trustee or director, Officer | 2 | $0 | $0 | $0 |
| SHERI OLSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| SHAHANAZ RAHAMAN | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| LESLIE ROTARIUS | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 | $0 |
| CARL SPECCI | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
| SARAH UHRIK | TREASURER Trustee or director, Officer | 2 | $0 | $0 | $0 |
| DANIEL WHITEHOUSE | BOARD MEMBER Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 9501 US HIGHWAY 441, LEESBURG, FL 34788-3950
- Principal officer (990 for 2024)
- MICHELLE MICHNOFF, 9501 US HWY 441, LEESBURG, FL 34788
- Signed the 990
- MICHELLE MICHNOFF, PRESIDENT
- Phone
- (352) 365-3518
- Website
- WWW.LSSC.EDU/FOUNDATION
- Return prepared by
- PURVIS GRAY & COMPANY LLP
Mission
THE LAKE-SUMTER STATE COLLEGE FOUNDATION, INC. IS A DIRECT SUPPORT ORGANIZATION WHOSE MISSION IS TO PROVIDE EXCELLENCE IN EDUCATION, SERVICE TO THE COMMUNITY, AND FINANCIAL ASSISTANCE TO QUALIFIED STUDENTS.
Program accomplishments
- THE LAKE-SUMTER STATE COLLEGE FOUNDATION ENABLES AND ENHANCES THE LIVES OF LAKE-SUMTER STATE COLLEGE STUDENTS, FACULTY, AND STAFF THROUGH SCHOLARSHIPS, PROGRAM ENHANCEMENTS, SPECIAL EVENTS, AND FACILITIES SUPPORT. THE FOUNDATION CULTIVATES AND ASSISTS PRIVATE DONORS WHO WISH TO SUPPORT ITS MISSION OF IMPROVING HIGHER EDUCATION IN OUR LOCAL COMMUNITY.Expenses $2,069,311 · grants $2,069,311
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 59-1990323
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1981
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B410)
- Assets (IRS master file)
- $34,929,156
- Income (IRS master file)
- $25,126,982
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,518,258 | $2,492,102 | $34,929,156 | IRS |
| 990 | December 2023 | $4,073,247 | $2,411,918 | $30,852,386 | XML |
| 990 | December 2022 | $3,506,837 | $1,916,573 | $25,955,910 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 59-1990323).
Questions about LAKE SUMTER STATE COLLEGE FOUNDATION INC
- What is the EIN of LAKE SUMTER STATE COLLEGE FOUNDATION INC?
- The employer identification number (EIN) of LAKE SUMTER STATE COLLEGE FOUNDATION INC is 59-1990323.
- Is LAKE SUMTER STATE COLLEGE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to LAKE SUMTER STATE COLLEGE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE SUMTER STATE COLLEGE FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE SUMTER STATE COLLEGE FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE SUMTER STATE COLLEGE FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAKE SUMTER STATE COLLEGE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names MICHELLE MICHNOFF.
- Who are the officers and directors of LAKE SUMTER STATE COLLEGE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 24 people; 0 received compensation from the organization.
- How much revenue does LAKE SUMTER STATE COLLEGE FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,518,258, expenses of $2,492,102 and total assets of $34,929,156 at year end.
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