Educational Institutions

Florida Agricultural & Mechanical Univ Foundation Inc

  • TALLAHASSEE , FL
  • www.famu.edu

Mission Statement

The FAMU Foundation is a non-profit 501(c)3 organization exclusively dedicated to advancing the educational and strategic goals of Florida Agricultural and Mechanical University.

Main Programs

  1. FAMU Foundation Fund Development Program
Service Areas

Self-reported

Florida

FAMU is a global university that serves students from across the USA and the world. Students hail from across the United States with Florida, Georgia and Illinois being the top three feeder states. The University recruits international students from more than 70 countries, including several African countries, the Bahamas, Brazil, Indonesia, China, and the United Arab Emirates.

ruling year

1967

Principal Officer since 2015

Self-reported

Mr. George R Cotton

Keywords

Self-reported

FAMU, Florida A&M University, FAM, The Rattlers and FAMUly.

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EIN

59-6175096

 Number

0257445847

Contact

Cause Area (NTEE Code)

Education N.E.C. (B99)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

The top five accomplishments of the FAMU Foundation for FY 2014-2015 are: (1) disbursement of over $7 million in scholarship aid for FAMU students; (2) reduced student indebtedness by paying down loans using philanthropy gift to FAMU Foundation from alumnus donor; (3) staff reorganization to reduce Foundation operational expenses by $300,000 over two years; (4) provided start-up and strategic funding to support the vision of the University's first permanent female president in the school's 126 year history; and, (5) annually provide administrative, financial, and engagement support to nearly 10,000 students, 3,000 faculty and staff, and 70,000 alumni. For the current fiscal year of 2015-2016, the top three goals are: (1) increase private philanthropy by 25%, (2) increase alumni giving to 12% and (3) increase the annual disbursement of scholarships to $10 million

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

FAMU Foundation Fund Development Program

As a Direct Support Organization for Florida Agricultural & Mechanical University, the primary program role of the FAMU Foundation is to receive, invest and administer funds functionally supporting the university's strategic initiatives. Additionally, the Foundation acts as a trustee and exercises in general, the powers of a not-for-profit organization under the laws of Florida.

Category

Education, General/Other

Population(s) Served

Other Named Groups

Adults

Budget

$2,500,000.00

Service Areas

Self-reported

Florida

FAMU is a global university that serves students from across the USA and the world. Students hail from across the United States with Florida, Georgia and Illinois being the top three feeder states. The University recruits international students from more than 70 countries, including several African countries, the Bahamas, Brazil, Indonesia, China, and the United Arab Emirates.

Funding Needs

The FAMU Foundation was created and exist solely for the educational benefit of Florida A&M University which has student enrollment of 10,000. Approximately 68% of students receive financial aid. As a result, the Foundation and University's shared top five pressing needs are:scholarship aid for studentsfaculty developmentcapital improvements/campus expansion research growth improve administrative processes throughout the University

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

Florida Agricultural & Mechanical Univ Foundation Inc
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

Florida Agricultural & Mechanical Univ Foundation Inc

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2015 and 2014
  • Board Chair, Board Co-Chair and Board Members
  • Access to the GuideStar Community
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Principal Officer

Mr. George R Cotton

BIO

Vice President for University Advancement and Executive Director of the FAMU Foundation George Cotton, Sr. brings to FAMU nearly 30 years of experience in advancement. He was appointed the assistant vice president for Major and Planned Gifts at Wake Forest Baptist Medical Center in Winston-Salem, N.C. in 2013, after serving as senior director for Development since 2011. Cotton's responsibilities at Wake Forest included directing fundraising initiatives for the Institute for Regenerative Medicine and managing strategies in support of the comprehensive capital campaign.Cotton's expansive background crosses a wide range of organizational development experience, including having served as a motivational speaker, lecturer, and consultant on diverse matters related to non-profit advancement and organizational dynamics. Prior to his tenure at Wake Forest, he served as associate director of Institutional Advancement at Southern Illinois University and as the director of development in the College of Science at George Mason University in Virginia. He is credited with successfully operating capital campaigns for non-profits, school systems, and universities that have raised a combined total of more than $625 million.

STATEMENT FROM THE Principal Officer

"Statement from FAMU Foundation Executive Director George R. Cotton, Sr.: FAMU is ever grateful for the support and unwavering commitment and dedication displayed by our alumni, FAMU family and friends. It is because of your support that FAMU begins its 125th year as the consistent choice for America's best and brightest students. Known as the premier institution for educating African Americans, and nationally recognized as one of the largest producers in the nation of African Americans with advanced degrees, FAMU has continuously embraced its destiny and has become the premier institution of higher learning - dedicated to the advancement of knowledge and the empowerment of citizens and communities. As the founders envisioned the FAMU we know today, we, the FAMUnity (faculty, staff, students, alumni and friends), must boldly create the new vision for FAMU tomorrow. With the same uncommon sense of greater purpose and commitment to excellence in every endeavor, we must make every decision based on the knowledge that the students of tomorrow are depending on us and will hold us accountable. As we lay the foundation for the next 125 years of service, we must position ourselves academically and fiscally, to ensure that FAMU's future continues to reflect and advance the strengths of its past. The economic and technological changes of the last decade have brought with them a marvelous opportunity that must be seized. The maturation of the e-technology (social media, mobile apps, etc.) has created a significant opportunity to influence, educate and enhance not just FAMU, but the world through FAMU. Today, opportunities are limitless! Our future is our responsibility and our inheritance, and we alone determine our outcome. Continue to stand with us to ensure that FAMU yesterday, and FAMU today, is poised as a perpetual beacon of hope so that this great institution is positioned to exist forever."

Governance

BOARD CHAIR

Mr. Thomas Jones Jr.

McConnell & Jones LLP

Term: Jan 2015 - Jan 2016

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?