FLORIDA SOUTHERN COLLEGE

EIN: 590624401 501(c)(3) Education

LAKELAND, FL

Total Revenue
$188,232,134
Total Expenses
$176,289,193
Total Assets
$359,297,958
Net Assets
$311,628,212
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Financial Trends

Organization Details

Formation Year
1885
Legal Domicile
FL
Principal Officer
DR JEREMY P MARTIN
Phone
8636804148
Tax Period
2024-06-01 to 2025-05-31

FLORIDA SOUTHERN COLLEGE, founded in 1885, is a major nonprofit in the Education sector that reported $188.2M in total revenue in fiscal year 2024. Expenses of $176.3M left a modest 6% surplus.

Mission

FLORIDA SOUTHERN COLLEGE (FLORIDA SOUTHERN OR THE COLLEGE) IS COMMITTED TO EDUCATIONAL EXCELLENCE AND IS A SELECTIVE COMPREHENSIVE, PRIVATE, UNITED METHODIST AFFILIATED COLLEGE WITH A STRONG LIBERAL ARTS CORE AND SIGNATURE PROGRAMS. (SEE SCHEDULE O.)THE COLLEGE ENROLLS A TALENTED STUDENT BODY AND INCLUDES AN ACCOMPLISHED FACULTY WHO ARE DEDICATED TO TEACHING EXCELLENCE. OUTSTANDING OPPORTUNITIES FOR ENGAGED LEARNING, STUDENT-FACULTY COLLABORATIVE RESEARCH AND PERFORMANCE, SERVICE LEARNING, STUDY ABROAD, AND HONORS STUDY ARE DISTINCTIVE FEATURES OF THE ACADEMIC PROGRAM AT FLORIDA SOUTHERN. THE COLLEGE OFFERS EXCEPTIONAL STUDENT LIFE PROGRAMS, INCLUDING A CHAMPIONSHIP ATHLETIC PROGRAM.

Program Service Accomplishments

Program 1
Expenses: $154,084,990 Revenue: $156,085,266

FLORIDA SOUTHERN COLLEGE IS A PRIVATE, COMPREHENSIVE COLLEGE DEDICATED TO TEACHING EXCELLENCE IN 60 PROGRAMS OF STUDY FOR UNDERGRADUATE STUDENTS. THE COLLEGE OFFERS 16 MASTER DEGREE PROGRAMS IN...

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FLORIDA SOUTHERN COLLEGE IS A PRIVATE, COMPREHENSIVE COLLEGE DEDICATED TO TEACHING EXCELLENCE IN 60 PROGRAMS OF STUDY FOR UNDERGRADUATE STUDENTS. THE COLLEGE OFFERS 16 MASTER DEGREE PROGRAMS IN BUSINESS, EDUCATION, NURSING AND PSYCHOLOGY, ALONG WITH FOUR DOCTORATE PROGRAMS IN EDUCATION, NURSING, AND PHYSICAL THERAPY. THE COLLEGE IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES. IN 2024, THE COLLEGE WELCOMED A FRESHMAN CLASS OF 762 AS PART OF THE INSTITUTION'S 2,605 FULL-TIME TRADITIONAL UNDERGRADUATE POPULATION, REPRESENTING 47 STATES AND 46 COUNTRIES AND TERRITORIES. NOTABLY, 81% OF THESE STUDENTS RESIDE IN CAMPUS HOUSING. MORE THAN 99% RECEIVE SOME FORM OF FINANCIAL ASSISTANCE, INCLUDING 36% WHO RECEIVE PELL GRANTS. (SEE SCHEDULE O.)FLORIDA SOUTHERN IS NATIONALLY RECOGNIZED FOR EXCELLENCE IN EXPERIENTIAL EDUCATION. OUR ENGAGED LEARNING PEDAGOGY CHALLENGES STUDENTS TO DEEPEN THEIR LEARNING AND EXPLORE THEIR POTENTIAL. WE ARE PROUD TO PROVIDE STUDENTS WITH OPPORTUNITIES TO APPLY THEIR LEARNING THROUGH STUDENT-FACULTY COLLABORATIVE RESEARCH, STUDENT MUSICAL PERFORMANCES, SERVICE LEARNING, CIVIC ENGAGEMENT, INTERNSHIPS, AND STUDY-ABROAD OPPORTUNITIES. THE COLLEGE'S INSTRUCTIONAL STAFF INCLUDES 165 FULL TIME FACULTY, CONTRIBUTING TO A SUPPORTIVE ACADEMIC ENVIRONMENT WITH A 14:1 STUDENT FACULTY RATIO. FACULTY CREDENTIALS ARE EQUALLY IMPRESSIVE, WITH 78% HOLDING TERMINAL DEGREES IN THEIR FIELDS.FLORIDA SOUTHERN COLLEGE EMPHASIZES WHOLE-STUDENT DEVELOPMENT AND MAINTAINS A COMPREHENSIVE CO-CURRICULAR PROGRAM THAT SUPPORTS INTELLECTUAL, PHYSICAL, SPIRITUAL, AND SOCIAL GROWTH. IN ADDITION TO CLASSROOM INSTRUCTION, STUDENTS PARTICIPATE IN LEADERSHIP DEVELOPMENT, SERVICE LEARNING, CAMPUS MINISTRY, ATHLETICS, PERFORMING ARTS, AND PROFESSIONAL ORGANIZATIONS. THESE ACTIVITIES ARE GUIDED BY TRAINED PROFESSIONAL STAFF AND ARE INTEGRATED INTO THE COLLEGE'S EDUCATIONAL MISSION.FLORIDA SOUTHERN CONTINUES TO RECEIVE NATIONAL RECOGNITION FOR ACADEMIC QUALITY AND INSTITUTIONAL EFFECTIVENESS. THE COLLEGE IS REGULARLY INCLUDED IN THE PRINCETON REVIEW'S BEST COLLEGES, U.S. NEWS & WORLD REPORT, COLLEGES OF DISTINCTION, AND THE FISKE GUIDE TO COLLEGES. THE COLLEGE HAS ALSO BEEN RECOGNIZED BY U.S. NEWS & WORLD REPORT AMONG "BEST VALUE SCHOOLS, AND BY MONEY MAGAZINE FOR EDUCATIONAL VALUE AND RETURN ON INVESTMENT.THE BARNEY BARNETT SCHOOL OF BUSINESS AND FREE ENTERPRISE HOLDS AACSB ACCREDITATION AND HAS BEEN RECOGNIZED BY BUSINESS JOURNALS, INCLUDING POETS&QUANTS, CEO MAGAZINE, AND BLOOMBERG BUSINESSWEEK. ITS MBA PROGRAM HAS BEEN IDENTIFIED AS A TIER ONE PROGRAM AND INCLUDED IN NATIONAL RANKINGS OF ONLINE MBA PROGRAMS. THE ANN BLANTON EDWARDS SCHOOL OF NURSING AND HEALTH SCIENCES AND THE SCHOOL OF EDUCATION HAVE ALSO RECEIVED NATIONAL RECOGNITION THROUGH U.S. NEWS & WORLD REPORT'S GRADUATE PROGRAM RANKINGS.THE COLLEGE'S 120-ACRE CAMPUS SUPPORTS ITS ACADEMIC AND CO-CURRICULAR MISSION THROUGH ACADEMIC BUILDINGS, RESIDENCE HALLS, ATHLETIC FACILITIES, STUDENT LIFE AND ACTIVITY SPACES, ADMINISTRATIVE OFFICES, STUDENT SUPPORT AND LEARNING CENTERS, A PERFORMING ARTS CENTER, AUDITORIA FOR CAMPUS PROGRAMMING, CHAPELS FOR CAMPUS MINISTRIES, AND MAINTENANCE AND WORKSHOP FACILITIES. THE COLLEGE ALSO OWNS AND OPERATES NEARBY APARTMENT COMPLEXES USED FOR STUDENT HOUSING.FLORIDA SOUTHERN'S CAMPUS HAS RECEIVED NATIONAL RECOGNITION FOR ARCHITECTURAL SIGNIFICANCE AND CAMPUS ENVIRONMENT, INCLUDING RANKINGS AMONG THE MOST BEAUTIFUL CAMPUSES IN THE NATION.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $23,342,841
Program Service Revenue $156,085,266
Investment Income $6,568,981
Other Revenue $2,235,046
TOTAL REVENUE $188,232,134

Expense Breakdown

Grants Paid $64,082,198
Salaries & Benefits $53,535,590
Fundraising Expenses $1,650,675
Program Expenses $154,084,990
Other Expenses $58,671,405
TOTAL EXPENSES $176,289,193

Year-over-Year Comparison

2024 2023 Change
Revenue $188,232,134 $195,738,425 0.0%
Expenses $176,289,193 $167,372,495 +0.1%
Net Income $11,942,941 $28,365,930 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
34
Independent Members
34
Employees
1694
Volunteers
175

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$2,133,598
Total Directors
38
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT L FRYER JR CHAIRMAN 10.00
Officer Director
$0 $0 $0
RICHARD T FULTON VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
ROBERT E PUTERBAUGH SECRETARY 5.00
Officer Director
$0 $0 $0
WILLIAM E CRENSHAW TREASURER 1.00
Officer Director
$0 $0 $0
J STEPHEN BUCK ASSISTANT SECRETARY 1.00
Officer Director
$0 $0 $0
KEITH R BEREND TRUSTEE 1.00
Director
$0 $0 $0
KEVIN F BROWNE JR TRUSTEE 1.00
Director
$0 $0 $0
SONJI CONEY TRUSTEE 1.00
Director
$0 $0 $0
BISHOP ROBERT E FANNIN TRUSTEE 1.00
Director
$0 $0 $0
ALFONSO GARCIA III TRUSTEE 1.00
Director
$0 $0 $0
ANN H HANSEN TRUSTEE 1.00
Director
$0 $0 $0
ROGER W HOLLER III TRUSTEE 1.00
Director
$0 $0 $0
RICHARD C JENSEN TRUSTEE (THRU 5/31/2025) 1.00
Director
$0 $0 $0
BERNARD L LITTLE JR TRUSTEE (THRU 5/31/2025) 1.00
Director
$0 $0 $0
STANLEY Y LITTLE TRUSTEE 1.00
Director
$0 $0 $0
GREGORY A MASTERS TRUSTEE (AS OF 6/1/2024) 1.00
Director
$0 $0 $0
DOMINGO R MOREIRA TRUSTEE 1.00
Director
$0 $0 $0
H WILLIAM MUTZ TRUSTEE (THRU 5/31/2025) 1.00
Director
$0 $0 $0
MARK A PITTS TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM K POU JR TRUSTEE 1.00
Director
$0 $0 $0
MARJORIE H ROBERTS TRUSTEE (THRU 5/31/2025) 1.00
Director
$0 $0 $0
JULIA L ROBERTS TRUSTEE (AS OF 6/1/2024) 1.00
Director
$0 $0 $0
SUSAN E ROBERTS TRUSTEE 1.00
Director
$0 $0 $0
J JASON RODDA TRUSTEE 1.00
Director
$0 $0 $0
DAVID E ROGERS TRUSTEE 1.00
Director
$0 $0 $0
GEORGE W ROGERS TRUSTEE 1.00
Director
$0 $0 $0
CAROLINE H SCHICHTEL TRUSTEE 1.00
Director
$0 $0 $0
ROBERT R SHARP TRUSTEE 1.00
Director
$0 $0 $0
EVETT L SIMMONS TRUSTEE 1.00
Director
$0 $0 $0
W SCOTT THORNTON TRUSTEE 1.00
Director
$0 $0 $0
DAVID J ADAMS TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM D DROST TRUSTEE 1.00
Director
$0 $0 $0
JACK R HARRELL III TRUSTEE 1.00
Director
$0 $0 $0
COURTNEY B MAKRIS TRUSTEE 1.00
Director
$0 $0 $0
ASHLEY G BARNETT TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL A CAMPANELLI TRUSTEE 1.00
Director
$0 $0 $0
EVELYN P DOHERTY TRUSTEE 1.00
Director
$0 $0 $0
GREGORY J FANCELLI TRUSTEE 1.00
Director
$0 $0 $0
ANNE B KERR PRESIDENT (THRU 07/2024) 40.00
Officer
$488,490 $49,514 $538,004
JEREMY P MARTIN PRESIDENT (AS OF 08/2024) 40.00
Officer
$181,046 $25,945 $206,991
V TERRY DENNIS VP OF FINANCE AND ADMINIST 40.00
Officer
$355,768 $40,722 $396,490
JOHN P GRUNDIG VP OF ENROLLMENT MANAGEMEN 40.00
Officer
$292,552 $47,991 $340,543
HEATHER PHARRIS VP OF DEVELOPMENT 40.00
Officer
$223,444 $36,171 $259,615
TRACEY D TEDDER PROVOST 40.00
Officer
$227,500 $32,001 $259,501
LAUREN ALBAUM VP OF STUDENT LIFE 40.00
Officer
$120,159 $12,295 $132,454
J MICHAEL WEBER DEAN OF BUSINESS 40.00
Highest
$253,380 $31,908 $285,288
KRISTA LEWELLYN MBA PROGRAM DIRECTOR 40.00
Highest
$240,573 $22,386 $262,959
GRISSELLE CENTENO PROFESSOR 40.00
Highest
$243,175 $22,045 $265,220
WARREN WAITE WILLIS PROFESSOR 40.00
Highest
$281,840 $14,230 $296,070
LALY JOSEPH DEAN OF NURSING 40.00
Highest
$295,000 $34,821 $329,821
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $188,232,134 $176,289,193 $359,297,958 $11,942,941
2024 $195,738,425 $167,372,495 $344,271,848 $28,365,930
2023 $164,767,465 $164,207,263 $308,595,580 $560,202
2022 $158,647,650 $153,608,007 $312,839,193 $5,039,643
2020 $143,874,205 $134,862,147 $276,996,972 $9,012,058
2019 $135,701,989 $135,419,033 $264,539,025 $282,956
2018 $139,160,048 $123,573,558 $266,107,601 $15,586,490
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