POLK STATE COLLEGE FOUNDATION

EIN: 591819213 501(c)(3)

WINTER HAVEN, FL

Total Revenue
$3,637,603
Total Expenses
$3,253,341
Total Assets
$55,385,381
Net Assets
$54,697,126
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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
FL
Principal Officer
JOANIE MALONE
Phone
8632923613
Tax Period
2025-01-01 to 2025-12-31

POLK STATE COLLEGE FOUNDATION, founded in 1976, is a community nonprofit that reported $3.6M in total revenue in fiscal year 2025. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $3.3M left a modest 11% surplus.

Mission

POLK STATE COLLEGE FOUNDATION WORKS IN TANDEM WITH POLK STATE COLLEGE TO HELP IT MEET ITS HALLMARKS AND COMMITMENT TO THE COMMUNITY OF ACCESS AND AFFORDABILITY TO HIGHER EDUCATION. (CONTINUED ON SCHEDULE O)SCHOLARSHIPS ARE A KEY WAY THE FOUNDATION ACCOMPLISHES THIS AND, AS SUCH, REMAINS THE FOUNDATION'S NUMBER-ONE FUNDRAISING PRIORITY. THE POLK STATE COLLEGE FOUNDATION IS GOVERNED BY A BOARD OF DIRECTORS COMPRISED OF COMMUNITY LEADERS, AS WELL AS A STRONG MANAGEMENT TEAM TO ENSURE THAT DONATIONS ARE WISELY MANAGED AND LEVERAGED TO MAXIMIZE THE BENEFIT TO THE STUDENTS. GIFTS AT EVERY LEVEL ARE APPRECIATED AND TRULY MAKE A DIFFERENCE IN THE LIVES OF POLK STATE STUDENTS. SOME STUDENTS, INDEED, NEED HELP PAYING FOR THE MAJORITY OF THEIR TUITION, WHILE OTHERS SIMPLY NEED HELP WITH THE COST OF A BOOK TO BE ABLE TO AFFORD TAKING A CLASS AT POLK.

Program Service Accomplishments

Program 1
Expenses: $2,508,073

THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGH AWARDING MORE THAN $1.5 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDS ARE DONOR DIRECTED AND HELP...

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THE POLK STATE COLLEGE FOUNDATION ASSISTS MORE THAN 1,000 STUDENTS ANNUALLY THROUGH AWARDING MORE THAN $1.5 MILLION IN SCHOLARSHIPS. THE MAJORITY OF SCHOLARSHIP AWARDS ARE DONOR DIRECTED AND HELP LIFT UP STUDENTS THROUGHOUT THE COLLEGE POPULATION. FIRST GENERATION, ALLIED HEALTH, PUBLIC SAFETY, ATHLETICS, THE ARTS AND EMERGENCY SCHOLARSHIPS ARE A FEW EXAMPLES OF DONOR DESIGNATIONS. IN ADDITION TO TRADITIONAL AND NON-TRADITIONAL SCHOLARSHIP AWARDS, THE FOUNDATION HAS A POPULAR ELEMENTARY SCHOLARSHIP PROGRAM, WHERE AT LEAST ONE GRADUATE OF EVERY ELEMENTARY SCHOOL IN POLK COUNTY IS AWARDED A SCHOLARSHIP TO ATTEND POLK STATE UPON GRADUATION FROM HIGH SCHOOL. THE FOUNDATION ALSO HELPS TO ELEVATE THE COLLEGE THROUGH AN ENDOWED TEACHING CHAIR PROGRAM THAT HONORS DISTINGUISHED FACULTY. (CONTINUED ON SCHEDULE O)POLK STATE COLLEGE HAS BEEN FURTHER STRENGTHENED BY DONOR CONTRIBUTIONS TO THE FOUNDATION FOR FACILITIES, EQUIPMENT, PROGRAMS AND TECHNOLOGY.

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Trantor Score

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

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $1,705,947
Program Service Revenue $0
Investment Income $1,886,403
Other Revenue $45,253
TOTAL REVENUE $3,637,603

Expense Breakdown

Grants Paid $1,562,710
Salaries & Benefits $0
Fundraising Expenses $482,303
Program Expenses $2,508,073
Other Expenses $1,690,631
TOTAL EXPENSES $3,253,341

Year-over-Year Comparison

2025 2024 Change
Revenue $3,637,603 $7,212,447 -0.5%
Expenses $3,253,341 $2,678,356 +0.2%
Net Income $384,262 $4,534,091 -0.9%
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
29
Independent Members
29
Employees
N/A
Volunteers
45

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
6
$347,612
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BO BOYTE CHAIR (AS OF 7/25) 0.50
Officer Director
$0 $0 $0
MATT MUCCI VICE CHAIR (AS OF 7/25) 0.50
Officer Director
$0 $0 $0
JENNIFER HALL TREASURER 0.50
Officer Director
$0 $0 $0
WENDY VENTORS DEVELOPMENT CHAIR/SECRETARY 0.50
Officer Director
$0 $0 $0
DAVID FISHER PAST CHAIR (AS OF 7/25) 0.50
Director
$0 $0 $0
NANCY DODD BOARD MEMBER 0.25
Director
$0 $0 $0
GRETA DUPUY BOARD MEMBER 0.25
Director
$0 $0 $0
JENNIFER FASKING BOARD MEMBER 0.25
Director
$0 $0 $0
TIFFANI GOZDU BOARD MEMBER - AS OF 07/25 0.25
Director
$0 $0 $0
SCOTT HART BOARD MEMBER 0.25
Director
$0 $0 $0
NIKKI HAYDE BOARD MEMBER 0.25
Director
$0 $0 $0
BILL JACOBS BOARD MEMBER 0.25
Director
$0 $0 $0
CYNDI JANTOMASO MEDP BOARD MEMBER 0.25
Director
$0 $0 $0
GARRETT KENNY BOARD MEMBER 0.25
Director
$0 $0 $0
JENNIFER KINCART JONSSON BOARD MEMBER - THRU 11/25 0.25
Director
$0 $0 $0
MICHELE LEDFORD BOARD MEMBER 0.25
Director
$0 $0 $0
DR CHRISTOPHER LOPEZ BOARD MEMBER 0.25
Director
$0 $0 $0
BETH LUCKET BOARD MEMBER 0.25
Director
$0 $0 $0
RYAN MCKELLEN BOARD MEMBER 0.25
Director
$0 $0 $0
DR PAUL MORIN BOARD MEMBER 0.25
Director
$0 $0 $0
CHRIS NELSON BOARD MEMBER - AS OF 07/25 0.25
Director
$0 $0 $0
ANALISA NOVOSEL BOARD MEMBER 0.25
Director
$0 $0 $0
TY PINNER BOARD MEMBER 0.25
Director
$0 $0 $0
NICK PLOTT BOARD MEMBER 0.25
Director
$0 $0 $0
ALEX PRICE BOARD MEMBER - AS OF 07/25 0.25
Director
$0 $0 $0
KALEY RAUB BOARD MEMBER - AS OF 07/25 0.25
Director
$0 $0 $0
JAMES RING BOARD MEMBER 0.25
Director
$0 $0 $0
CHRISTINE SAMUEL BOARD MEMBER 0.25
Director
$0 $0 $0
NIKKI SMITH BOARD MEMBER 0.25
Director
$0 $0 $0
EMILY SPATH BOARD MEMBER - AS OF 07/25 0.25
Director
$0 $0 $0
MEG THORNTON BOARD MEMBER 0.25
Director
$0 $0 $0
JOANIE MALONE CHIEF FINANCIAL OFFICER 50.00
Officer
$0 $39,376 $148,376
STEVEN WARNER EXECUTIVE DIRECTOR 60.00
Officer
$0 $69,236 $199,236
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 $3,637,603 $3,253,341 $55,385,381 $384,262
2024 $7,212,447 $2,678,356 $51,399,651 $4,534,091
2023 $3,013,309 $2,281,741 $45,518,078 $731,568
2022 $-1,090,071 $2,096,181 $40,305,491 $-3,186,252
2022 $6,277,860 $2,217,862 $40,005,868 $4,059,998
2021 $4,298,345 $1,944,068 $44,521,399 $2,354,277
2020 $3,221,385 $1,818,373 $40,262,386 $1,403,012
2019 $2,807,491 $2,314,016 $36,782,973 $493,475
2018 $2,667,991 $2,299,472 $31,420,887 $368,519
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