New College Of Florida Development Corporation
New College Of Florida Development Corporation sees declining revenue but maintains substantial assets with no reported officer compensation.
EIN: 204398131 · Sarasota, FL · NTEE: B110 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $624K |
| Total Expenses | $675K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $19 |
| Net Assets | $279K |
| Transparency Score | 85/100 |
Is New College Of Florida Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New College Of Florida Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New College Of Florida Development Corporation
New College Of Florida Development Corporation (EIN: 204398131) is a nonprofit organization based in Sarasota, FL, classified under NTEE code B110. The organization reported total revenue of $624K and total assets of $18.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New College Of Florida Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New College Of Florida Development Corporation is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -6.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $673K |
| Total Expenses | $675K |
| Surplus / Deficit | $-2,492 |
| Total Assets | $19.5M |
| Total Liabilities | $19.2M |
| Net Assets | $279K |
| Operating Margin | -0.4% |
| Debt-to-Asset Ratio | 98.6% |
| Months of Reserves | 346.1 months |
Financial Health Grade: C
In 2024, New College Of Florida Development Corporation reported a deficit of $2K with expenses exceeding revenue, holds 346.1 months of operating reserves (strong position), has a debt-to-asset ratio of 98.6% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), New College Of Florida Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -2.9% | -2.9% | -5.2% |
| 2023 | -36.1% | -36.0% | -4.8% |
| 2022 | -5.6% | -5.5% | -7.6% |
| 2021 | -8.0% | -8.0% | -6.6% |
| 2020 | -7.4% | -7.4% | -3.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
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 New College Of Florida Development Corporation with a Mission Score of 85 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, New College Of Florida Development Corporation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 98.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with assets exceeding $19 million. This suggests that executive compensation may be paid by a related organization or that the roles are entirely volunteer, which would be a significant strength in terms of resource allocation.
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 New College Of Florida Development Corporation's IRS 990 filings:
- Significant and consistent decline in annual revenue over the past five years, from $1,346,469 in 2019 to $672,660 in 2024.
- Consistent reporting of 0% officer compensation for an organization with substantial assets, which may obscure the true cost of executive leadership if compensated by a related entity.
Strengths
The following positive indicators were identified for New College Of Florida Development Corporation:
- Maintains substantial assets ($19,473,161 in 2024) despite declining revenue, indicating financial stability.
- Expenses consistently align closely with revenue, suggesting efficient use of incoming funds for its mission.
- No reported officer compensation, which, if accurate, indicates excellent resource allocation towards its mission.
Frequently Asked Questions about New College Of Florida Development Corporation
Is New College Of Florida Development Corporation a legitimate charity?
New College Of Florida Development Corporation (EIN: 204398131) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $624K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does New College Of Florida Development Corporation spend its money?
New College Of Florida Development Corporation directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New College Of Florida Development Corporation tax-deductible?
New College Of Florida Development Corporation is registered as a tax-exempt nonprofit (EIN: 204398131). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New College Of Florida Development Corporation CEO make?
New College Of Florida Development Corporation's highest-compensated officer earns $19 annually. The organization reported $624K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New College Of Florida Development Corporation's spending goes to programs?
New College Of Florida Development Corporation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New College Of Florida Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), New College Of Florida Development Corporation is above average for NTEE category B110 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New College Of Florida Development Corporation located?
New College Of Florida Development Corporation is headquartered in Sarasota, Florida and files with the IRS under EIN 204398131. It is classified under NTEE code B110.
How many years of IRS 990 filings does New College Of Florida Development Corporation have?
New College Of Florida Development Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $624K in total revenue.
Why has the organization's revenue steadily declined from $1.3M in 2019 to $672K in 2024?
The consistent decline in revenue over the past five years, from $1,346,469 in 2019 to $672,660 in 2024, is a significant trend that warrants further investigation into funding sources and fundraising strategies.
How does the organization manage to report 0% officer compensation with assets over $19 million?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size and asset base. It suggests that executive roles might be entirely volunteer, or compensation is provided by a related entity, which would require reviewing consolidated financial statements for a full understanding.
What is the specific breakdown of program spending given the NTEE code B110 (College/University)?
While the NTEE code indicates support for a college/university, a detailed breakdown of how the expenses are allocated to specific programs, scholarships, or endowments would provide greater insight into its direct impact.
What is the relationship between the organization's liabilities and assets, given that liabilities are consistently very close to assets?
The liabilities are consistently very close to the assets (e.g., $19,194,396 liabilities vs. $19,473,161 assets in 2024), indicating that a significant portion of the assets may be restricted or held on behalf of another entity, such as the New College of Florida itself.
Filing History
IRS 990 filing history for New College Of Florida Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), New College Of Florida Development Corporation's revenue has declined by 57.8%, moving from $1.6M to $673K. Total assets decreased by 44.2% over the same period, from $34.9M to $19.5M. Total functional expenses fell by 52.5%, from $1.4M to $675K. In its most recent filing year (2024), New College Of Florida Development Corporation reported a deficit of $2K, with expenses exceeding revenue. The organization holds $19.2M in liabilities against $19.5M in assets (debt-to-asset ratio: 98.6%), resulting in net assets of $279K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $673K | $675K | $19.5M | $19.2M | — | View 990 |
| 2023 | $693K | $695K | $20.5M | $20.3M | — | View 990 |
| 2022 | $1.1M | $1.1M | $21.6M | $21.3M | — | View 990 |
| 2021 | $1.1M | $1.2M | $23.4M | $23.1M | — | View 990 |
| 2020 | $1.2M | $1.2M | $25.0M | $24.7M | — | View 990 |
| 2019 | $1.3M | $1.3M | $25.9M | $25.6M | — | View 990 |
| 2018 | $1.2M | $1.2M | $26.5M | $26.2M | — | View 990 |
| 2017 | $1.2M | $1.2M | $28.4M | $28.1M | — | View 990 |
| 2016 | $1.3M | $1.3M | $30.7M | $30.4M | — | View 990 |
| 2015 | $1.3M | $1.3M | $30.9M | $30.6M | — | View 990 |
| 2014 | $1.3M | $1.4M | $31.7M | $31.4M | — | View 990 |
| 2013 | $1.4M | $1.4M | $32.7M | $32.2M | — | View 990 |
| 2012 | $1.6M | $1.4M | $34.9M | $34.4M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $673K, expenses of $675K, and assets of $19.5M (revenue -2.9% year-over-year).
- 2023: Revenue of $693K, expenses of $695K, and assets of $20.5M (revenue -36.1% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.1M, and assets of $21.6M (revenue -5.6% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.2M, and assets of $23.4M (revenue -8.0% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.2M, and assets of $25.0M (revenue -7.4% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.3M, and assets of $25.9M (revenue +8.0% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.2M, and assets of $26.5M (revenue +0.5% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.2M, and assets of $28.4M (revenue -3.2% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.3M, and assets of $30.7M (revenue -2.4% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.3M, and assets of $30.9M (revenue -2.7% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.4M, and assets of $31.7M (revenue -4.2% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $32.7M (revenue -11.5% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.4M, and assets of $34.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New College Of Florida Development Corporation:
Data Sources and Methodology
This transparency report for New College Of Florida Development 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.