Florida Fund for Minority Teachers Inc

EIN: 593391795 501(c)(3) Education

Gainesville, FL

Total Revenue
$930,146
Total Expenses
$959,709
Total Assets
$372,899
Net Assets
$185,785
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
FL
Phone
3522734364
Tax Period
2021-07-01 to 2022-06-30

Florida Fund for Minority Teachers Inc, founded in 1997, is a small nonprofit in the Education sector that reported $930K in total revenue in fiscal year 2021. Revenue decreased 16% compared to the prior year.

Mission

Providing scholarships to eligbile college students in the state of Florida

Program Service Accomplishments

Program 1
Expenses: $903,044 Revenue: $930,146

The organization purpose is to recruit and retain minorities in the educational & teaching academia for future minority teachers in the State of Florida. The organization provides financial support...

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The organization purpose is to recruit and retain minorities in the educational & teaching academia for future minority teachers in the State of Florida. The organization provides financial support in the form of semester scholarship to elgible students within the State of Florida universities and higher education schools.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $919,284
Program Service Revenue $0
Investment Income $3
Other Revenue $10,859
TOTAL REVENUE $930,146

Expense Breakdown

Grants Paid $766,000
Salaries & Benefits $130,265
Fundraising Expenses $5,655
Program Expenses $903,044
Other Expenses $63,444
TOTAL EXPENSES $959,709

Year-over-Year Comparison

2021 2020 Change
Revenue $930,146 $1,102,321 -0.2%
Expenses $959,709 $1,138,239 -0.2%
Net Income $-29,563 $-35,918 -0.2%
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
12
Independent Members
12
Employees
2
Volunteers
3

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
0
$0
Total Directors
13
$86,952
Key Employees
4
$86,952
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Cheryl Williams Interim Executive Director 40.00
Director Key Emp
$86,952 $0 $86,952
Dr Glenn Good Chair 2.00
Director Key Emp
$0 $0 $0
Dr Ulysees Gilbert II Vice-Chair 2.00
Director Key Emp
$0 $0 $0
William Spiers Treasurer 2.00
Director Key Emp
$0 $0 $0
Teri Jones Secretary 2.00
Director
$0 $0 $0
Dr Piyush Agrawal Director 2.00
Director
$0 $0 $0
Dr Evelyn Cartright Director 2.00
Director
$0 $0 $0
Dr Benjamin Cowins Director 2.00
Director
$0 $0 $0
Dr David Kumar Director 2.00
Director
$0 $0 $0
Dr Linda Hogans Director 2.00
Director
$0 $0 $0
Dr Charles Ervin Director 2.00
Director
$0 $0 $0
Dr Samuel Wright Director 2.00
Director
$0 $0 $0
Yul Anderson Director 2.00
Director
$0 $0 $0
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
2024 No data No data No data No data
2022 $930,146 $959,709 $372,899 $-29,563
2021 $1,102,321 $1,138,239 $349,759 $-35,918
2020 $966,980 $1,071,878 $367,737 $-104,898
2019 $1,036,377 $1,082,261 $552,081 $-45,884
2018 $1,118,039 $1,083,842 $665,716 $34,197
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