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 2015-2016 were: (1) receiving, holding, and managing the largest amount of private gifts ($6.411m) in University history; (2) disbursement of over $5 million in scholarship aid for FAMU students; (3) reduced student indebtedness by paying down loans using philanthropy gift to FAMU Foundation from alumnus donor; (4) continued reorganization of FAMU Foundation to reduce operational expenses; (5) annually provide administrative, financial, and engagement support to 9,000 plus students, 3,000 faculty and staff, and 70,000 alumni. For the current fiscal year 2016-2017, the top three goals are: (1) increase private philanthropy by 10% over past year, (2) increase alumni giving rate to 12% and (3) increase the annual disbursement of scholarships over previous year

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

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    As a Direct Support Organization created for the sole benefit of FAMU, the Foundation receives, holds, and manage private gifts from donors to meet the priorities and needs of the University. We assist the entire University community of students, faculty, staff, and alumni. FAMU Foundation goals parallel the goals, objectives, needs and priorities of the University.
  2. What are the organization's key strategies for making this happen?
    FAMU Foundation long-term goals continue to be an outstanding steward or custodian of private gifts made on the University's behalf. This is accomplished by utilizing various committees of the board to ensure fiscal oversight, integrity, and compliance with GAAP, state and federal laws. The primary fiscal committees are Investment, Finance/Audit, and Executive.
  3. What are the organization's capabilities for doing this?
    In cooperation with University Advancement, the FAMU Foundation solicits private gifts from individuals, alumni, corporations, foundations, organizations, faculty and staff. The solicitations are a result of relationship building which lead to securing financial resources that help to meet the needs of all campus stakeholders especially students.
  4. How will they know if they are making progress?
    Progress indicator is confirmed by fundraising reports that are compared year to year to verify productivity. Reports are generated on a weekly basis to monitor growth. University Advancement has an annual fundraising goal to raise dollars which helps the FAMU Foundation to operate. If the goal is not on target to be reached, adjustments are immediately made to ensure the desired outcome is accomplished.
  5. What have and haven't they accomplished so far?
    Progress is being made as evident by strong fundraising performance. Six months into the current fiscal year, more than 50% of the annual dollars raised goal has been met. Private gifts help the University to offset declining revenue from state appropriations, provide scholarships for student recruitment and retention, hire and retain the best faculty, engage in robust research, and engage in campus improvement projects.
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 a student population of over 9,000. More than 60% of students receive financial aid. As a result, the Foundation and University's 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 2016, 2015 and 2015
  • Board Chair, Board Co-Chair and Board Members
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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 over 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.: November 16, 2016Welcome Rattlers! As we gather again in Orlando, Florida, for an exciting and fast-paced week of events, planning, and celebration, I extend greetings on behalf of the hard working staff and team of professionals who work tirelessly to make this event appear seamless. Our expectation is that you will leave Orlando excited and prepared to tackle the year ahead. 2016 proved to be a very productive one for the Florida Agricultural and Mechanical University (FAMU) Foundation and University Advancement. As I enter my second year as Vice President, I do so realizing that last year represented a record-setting period for the University. In addition to completing an impressive year with more than $1million in new and first-time contributions, we were also proud to close the year with more than $6.411 million in gifts and contributions to the University; a new single-year record! I also salute the efforts of Lt. Colonel Gregory Clark and the National Alumni Association (NAA). They continue to remain the heart and soul of FAMU. To say that our office could do little without the dedication of the NAA is an understatement. Our thanks also go out to our dedicated Faculty, Staff, and Administrators who continue the legacy and pride of this historic institution. We stand on the symbolic shoulders of those who came before us and must do our part to sustain that heritage! Take time to make new friends, build new partnerships, and by all means, enjoy The Orlando Classic! "

Governance

BOARD CHAIR

Mr. Thomas Jones Jr.

McConnell & Jones LLP

Term: Jan 2015 - Jan 2020

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?