Florida Gulf Coast University Financing Corporation
FGCU Financing Corporation maintains stable revenue and substantial assets despite periodic operational deficits.
EIN: 113685135 · Fort Myers, FL · NTEE: T11 · Updated: 2026-03-28
Is Florida Gulf Coast University Financing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Florida Gulf Coast University Financing Corporation directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Florida Gulf Coast University Financing Corporation
Florida Gulf Coast University Financing Corporation (EIN: 113685135) is a nonprofit organization based in Fort Myers, FL, classified under NTEE code T11. The organization reported total revenue of $20.7M and total assets of $175.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Florida Gulf Coast University Financing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Florida Gulf Coast University Financing Corporation is a large nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.2M |
| Total Expenses | $23.7M |
| Surplus / Deficit | $-4,456,287 |
| Total Assets | $184.6M |
| Total Liabilities | $148.0M |
| Net Assets | $36.6M |
| Operating Margin | -23.2% |
| Debt-to-Asset Ratio | 80.2% |
| Months of Reserves | 93.5 months |
Financial Health Grade: C
In 2024, Florida Gulf Coast University Financing Corporation reported a deficit of $4.5M with expenses exceeding revenue, holds 93.5 months of operating reserves (strong position), has a debt-to-asset ratio of 80.2% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Florida Gulf Coast University Financing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -2.3% | +26.2% | -6.0% |
| 2023 | +1.8% | +22.2% | -4.2% |
| 2022 | -4.4% | +7.3% | -1.6% |
| 2021 | +4.1% | -18.8% | -1.2% |
| 2020 | -2.8% | +4.1% | -4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Florida Gulf Coast University Financing Corporation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Florida Gulf Coast University Financing Corporation allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 80.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees are directly compensated by this corporation, or their compensation is handled by the parent university, which is a strong positive for financial transparency and efficiency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Florida Gulf Coast University Financing Corporation's IRS 990 filings:
- Periodic operational deficits, such as in 202406 where expenses ($23,681,314) significantly exceeded revenue ($19,225,027).
Strengths
The following positive indicators were identified for Florida Gulf Coast University Financing Corporation:
- Consistent revenue generation, typically around $19-20 million annually.
- Strong asset base ($175,707,780 latest, historically higher) consistently exceeding liabilities, indicating long-term solvency.
- Zero reported officer compensation across all filings, demonstrating high efficiency and transparency in executive pay.
- Consistent filing history (13 filings) indicating good compliance and transparency.
Frequently Asked Questions about Florida Gulf Coast University Financing Corporation
Is Florida Gulf Coast University Financing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Florida Gulf Coast University Financing Corporation (EIN: 113685135) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Florida Gulf Coast University Financing Corporation spend its money?
Florida Gulf Coast University Financing Corporation directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Florida Gulf Coast University Financing Corporation tax-deductible?
Florida Gulf Coast University Financing Corporation is registered as a tax-exempt nonprofit (EIN: 113685135). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Florida Gulf Coast University Financing Corporation a good charity?
As a financing corporation for a public university, its 'charitable' nature is indirect, supporting educational infrastructure. Its consistent financial reporting and 0% officer compensation suggest good financial management and transparency in its specific role.
Why does the organization sometimes spend more than it earns?
The organization has experienced periods where expenses exceeded revenue, such as in 202406 ($23.68M expenses vs. $19.22M revenue). This could be due to strategic investments, debt servicing, or timing differences in project expenditures versus revenue recognition, common for financing entities.
What is the primary purpose of this organization given its NTEE code T11?
NTEE code T11 typically refers to 'University or Related Research Institutions.' Given its name and consistent financial activity, its primary purpose is likely to facilitate financing for Florida Gulf Coast University's projects, infrastructure, or other related needs.
Filing History
IRS 990 filing history for Florida Gulf Coast University Financing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Florida Gulf Coast University Financing Corporation's revenue has grown by 28.6%, moving from $14.9M to $19.2M. Total assets decreased by 24.7% over the same period, from $245.0M to $184.6M. Total functional expenses rose by 106.1%, from $11.5M to $23.7M. In its most recent filing year (2024), Florida Gulf Coast University Financing Corporation reported a deficit of $4.5M, with expenses exceeding revenue. The organization holds $148.0M in liabilities against $184.6M in assets (debt-to-asset ratio: 80.2%), resulting in net assets of $36.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $19.2M | $23.7M | $184.6M | $148.0M | — | View 990 |
| 2023 | $19.7M | $18.8M | $196.3M | $155.2M | — | View 990 |
| 2022 | $19.3M | $15.4M | $204.9M | $164.8M | — | View 990 |
| 2021 | $20.2M | $14.3M | $208.2M | $172.1M | — | — |
| 2020 | $19.4M | $17.6M | $210.7M | $180.5M | — | View 990 |
| 2019 | $20.0M | $16.9M | $220.7M | $192.2M | — | View 990 |
| 2018 | $19.1M | $18.9M | $222.7M | $197.3M | — | — |
| 2017 | $18.7M | $24.5M | $228.4M | $203.2M | — | View 990 |
| 2016 | $20.7M | $23.1M | $244.3M | $213.3M | — | View 990 |
| 2015 | $20.1M | $21.0M | $258.7M | $225.3M | — | View 990 |
| 2014 | $18.5M | $14.8M | $266.0M | $231.7M | — | View 990 |
| 2013 | $18.5M | $25.5M | $265.8M | $235.0M | — | View 990 |
| 2012 | $14.9M | $11.5M | $245.0M | $207.3M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $19.2M, expenses of $23.7M, and assets of $184.6M (revenue -2.3% year-over-year).
- 2023: Revenue of $19.7M, expenses of $18.8M, and assets of $196.3M (revenue +1.8% year-over-year).
- 2022: Revenue of $19.3M, expenses of $15.4M, and assets of $204.9M (revenue -4.4% year-over-year).
- 2021: Revenue of $20.2M, expenses of $14.3M, and assets of $208.2M (revenue +4.1% year-over-year).
- 2020: Revenue of $19.4M, expenses of $17.6M, and assets of $210.7M (revenue -2.8% year-over-year).
- 2019: Revenue of $20.0M, expenses of $16.9M, and assets of $220.7M (revenue +4.4% year-over-year).
- 2018: Revenue of $19.1M, expenses of $18.9M, and assets of $222.7M (revenue +2.3% year-over-year).
- 2017: Revenue of $18.7M, expenses of $24.5M, and assets of $228.4M (revenue -9.5% year-over-year).
- 2016: Revenue of $20.7M, expenses of $23.1M, and assets of $244.3M (revenue +2.9% year-over-year).
- 2015: Revenue of $20.1M, expenses of $21.0M, and assets of $258.7M (revenue +8.8% year-over-year).
- 2014: Revenue of $18.5M, expenses of $14.8M, and assets of $266.0M (revenue -0.3% year-over-year).
- 2013: Revenue of $18.5M, expenses of $25.5M, and assets of $265.8M (revenue +24.0% year-over-year).
- 2012: Revenue of $14.9M, expenses of $11.5M, and assets of $245.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Florida Gulf Coast University Financing Corporation:
Data Sources and Methodology
This transparency report for Florida Gulf Coast University Financing Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.