City College Inc in Ft Lauderdale, Florida (FL)

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City College Inc
Employer Identification Number (EIN)650000627
Name of OrganizationCity College Inc
In Care of NameLisa Fendell
Address2000 W Commercial Blvd Ste 200, Ft Lauderdale, FL 33309-3001
ActivitiesSchool, college, trade school, etc.
SubsectionCharitable Organization
Ruling Date11/1992
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2013
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$40,572,119
Amount of Income$42,265,714
Form 990 Revenue Amount$29,814,472
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities:


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Amount of income in 2013: $42,265,714
This organization: 

 $42,265,714
Other organizations performing similar types of work: 

 $3,167,887

Assets in 2013: $40,572,119
City College Inc: 

 $40,572,119
Other organizations performing similar types of work: 

 $2,377,703

Expenses in 2013: $29,596,721
City College Inc: 

 $29,596,721
Other organizations performing similar types of work: 

 $1,491,944

Income to expenses ratio in 2013: 1.4
City College Inc: 

 1.4
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 51.9%
This organization: 

 51.9%
Other organizations performing similar types of work: 

 58.1%

Number of employees in 2013: 691
City College Inc: 

 691
Other organizations performing similar types of work: 

 18

Employees paid over $100,000 in 2013: 1.9%
City College Inc: 

 1.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 7.9%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?NoYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?YesYes
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?YesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10965779
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return640691
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesNo
Has it filed a Form 990-T for this year?YesNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$2,171,532$2,072,631
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$119,546$113,424
Total number of individuals who received more than $100,000 of reportable compensation from the organization1313
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$27,272,741$30,428,703$29,814,472
Contributions, Gifts, Grants and Other Similar Amounts$1,742$1,645$7,749
Program Service Revenue$27,649,510$29,259,883$28,891,332
611600$29,137,815$28,764,579
Educational Support Services$20,123$36,685
611600$101,945$90,068
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$422,485$634,624$846,398
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$-1,097,790$48,651$33,030
Gross rents (Real / Personal)$431,114 / $0$219,497 / $0$209,686 / $0
Less: rental expenses (Real / Personal)$1,528,904 / $0$170,846 / $0$176,656 / $0
Rental income or (loss) (Real / Personal)$-1,097,790 / $0$48,651 / $0$33,030 / $0
Net gain/loss from sales of assets other than inventory$83,220$160,910$-155,742
Gross amount from sales of assets other than inventory (Securities / Other)$7,307,466 / $0$13,255,667 / $0$12,118,844 / $0
Less: cost or other basis and sales expenses (Securities / Other)$7,224,246 / $0$13,094,757 / $0$12,274,586 / $0
Gain or (loss) (Securities / Other)$83,220 / $0$160,910 / $0$-155,742 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$352,224$277,880$86,910
Gross sales of inventory, less returns and allowances$1,294,654$1,300,038$86,910
Less: cost of goods sold$942,430$1,022,158$0
Miscellaneous Revenue$-138,650$45,110$104,795
900099$104,168$104,795
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$24,328,712$29,024,113$29,596,721
Grants and other assistance to domestic organizations and domestic governments$250$0
Grants and other assistance to domestic individuals$85,149$180,025
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$1,205,336$1,696,091$1,683,012
Compensation not included above, to disqualified persons$121,183$120,910
Other salaries and wages$11,343,578$11,733,946$12,112,661
Pension plan accruals and contributions$572,276$389,836
Other employee benefits$644,002$669,235
Payroll taxes$1,013,137$1,144,936$1,180,769
Fees for services (non-employees)
Management$0$0
Legal$70,090$94,392
Accounting$58,313$73,884
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$277,484$261,287
Advertising and promotion$4,546,025$4,308,326
Office expenses$1,556,580$1,655,000
Information technology$188,323$168,333
Royalties$0$0
Occupancy$3,173,178$3,106,601
Travel$206,413$213,842
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$83,619$127,107
Interest$230,409$220,357
Payments to affiliates$0$0
Depreciation, depletion, and amortization$1,413,112$1,403,699
Insurance$0$0
Other expenses$584,696$933,237
Other expenses$196,633$191,638
Other expenses$278,111$262,562
Other expenses$58,514$61,128
Other expenses$104,780$178,880
Balance Sheet
201120122013
Total assets$40,074,468$41,892,646$40,572,119
Cash - non-interest-bearing$1,512,959$2,401,379
Savings and temporary cash investments$7,222,723$6,793,613
Pledges and grants receivable, net$0$0
Accounts receivable, net$513,321$390,797
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$1,288,224$1,200,106
Inventories for sale or use$0$8,170
Prepaid expenses and deferred charges$300,080$256,430
Land, buildings, and equipment: cost or other basis$16,120,888$15,228,531
Investments - publicly traded securities$12,705,695$12,050,008
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$2,228,756$2,243,085
Total liabilities$15,300,701$15,325,740$14,840,946
Accounts payable and accrued expenses$1,973,182$1,635,825
Grants payable$0$0
Deferred revenue$1,006,013$856,498
Tax-exempt bond liabilities$10,920,000$10,565,000$10,195,000
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$1,781,545$2,153,623
Total net assets or fund balances$24,773,767$26,566,906$25,731,173
Unrestricted net assets$26,525,826$25,669,927
Temporarily restricted net assets$0$0
Permanently restricted net assets$41,080$61,246
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2004200520062007
Total revenue$12,618,446$11,591,177$9,963,238$10,851,875
Contributions, gifts, grants, and similar amounts received$36,468$49,456$27,662$129,586
Contributions to donor advised funds$0$0
Direct public support$36,468$49,456$27,662$129,586
Indirect public support$0$0$0$0
Government contributions (grants)$0$0$0$0
Program service revenue including government fees and contracts$11,390,437$10,353,226$9,141,786$10,283,455
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$202,638$375,256$0$0
Dividends and interest from securities$0$0$378,862$288,939
Net rental income or (loss)$515,239$482,278$63,171$-143,120
Gross rents$988,889$1,000,179$1,075,944$814,847
Less: rental expenses$473,650$517,901$1,012,773$957,967
Other investment income$0$0$0$-110,223
Gain or (loss) from sales of assets other than inventory$18,147$10,257$28,445$10,216
Gross amount from sales of assets other than inventory$171,607$98,908$61,990$1,470,274
Less: cost or other basis and sales expenses$153,460$88,651$33,545$1,460,058
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$386,430$271,644$193,039$351,938
Gross sales of inventory, less returns and allowances$1,101,778$893,692$901,725$899,844
Less: cost of goods sold$715,348$622,048$708,686$547,906
Other revenue$69,087$49,060$130,273$41,084
Total expenses$11,464,890$11,207,255$10,640,248$10,103,957
Program services$6,216,011$5,961,101$5,094,238$5,245,178
Management and general$5,248,879$5,246,154$5,546,010$4,858,779
Fundraising$0$0$0$0
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$10,129,591$10,545,152$9,901,327$11,161,937
Excess or (deficit) for the year$1,153,556$383,922$-677,010$747,918
Net assets or fund balances at beginning of year$8,975,463$10,129,591$10,545,152$9,901,327
Other changes in net assets or fund balances$572$31,639$33,185$512,692
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$10,103,957$5,245,178$4,858,779$0
Grants paid from donor advised funds$0
Other grants and allocations$16,308
Specific assistance to individuals$31,347
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$195,486$97,743$97,743$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$4,742,736$3,297,943$1,444,793$0
Pension plan contributions not included above$5,357$4,286$1,071$0
Employee benefits not included above$164,534$112,686$51,848$0
Payroll taxes$378,377$259,141$119,236$0
Professional fundraising fees$0$0$0$0
Accounting fees$55,355$0$55,355$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$57,984$0$57,984$0
Postage and shipping$41,068$32,854$8,214$0
Occupancy$665,872$532,698$133,174$0
Equipment rental and maintenance$78,347$0$78,347$0
Printing and publications$103,299$54,512$48,787$0
Travel$50,244$151$50,093$0
Conferences, conventions, and meetings$0$0$0$0
Interest$311,812$0$311,812$0
Depreciation, depletion, etc.$294,858$0$294,858$0
Other expenses not covered above$2,910,973$805,509$2,105,464$0
Balance Sheets
2004200520062007
Total assets$24,291,262$25,405,962$24,768,934$24,855,959
Cash - non-interest-bearing$804,386$2,303,994$1,250,627$1,566,729
Savings and temporary cash investments$1,754,914$278,164$0$0
Accounts receivable less allowance for doubtful accounts$186,912$353,658$43,335$133,532
Pledges receivable less allowance for doubtful accounts$0$0$0$0
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$882,800$1,160,448$1,757,314$2,637,287
Inventories for sale or use$428,399$384,654$295,164$558,547
Prepaid expenses and deferred charges$133,518$407,042$144,177$52,272
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$5,381,815$5,631,217$5,664,682$5,101,376
Land, buildings, and equipment less accumulated depreciation$14,397,922$14,586,434$14,585,500$13,882,470
Other assets, including program-related investments$320,596$300,351$1,028,135$923,746
Total liabilities$14,161,671$14,860,810$14,867,607$13,694,022
Accounts payable and accrued expenses$813,843$589,035$863,955$1,135,350
Grants payable$0$0$0$0
Deferred revenue$588,245$1,668,021$1,411,208$596,672
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$12,225,000$12,225,000$12,225,000$11,915,000
Mortgages and other notes payable$0$0$0$0
Other liabilities$534,583$378,754$367,444$47,000
Total liabilities and net assets/fund balances$24,291,262$25,405,962$24,768,934$24,855,959
Total net assets or fund balances$10,129,591$10,545,152$9,901,327$11,161,937
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2004200520062007
Total revenue$12,618,446$11,591,177$9,963,238$10,851,875
Total revenue, gains, and other support per audited financial statements$13,822,519$12,870,335$11,059,349$12,331,705
Other expenses$0$0$1,100,173$1,479,830
Net unrealized gains on investments$0$0$15,132$-198,626
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$1,085,041$1,678,456
Other revenue$-1,204,073$-1,279,158$4,062$0
Investment expenses$0$0$0$0
Other$-1,204,073$-1,279,158$4,062$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2004200520062007
Total expenses$11,464,890$11,207,255$10,640,248$10,103,957
Total expenses and losses per audited financial statements$12,653,891$12,454,775$11,622,124$11,672,190
Other revenue$1,188,998$1,247,520$1,085,041$1,568,233
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$1,188,998$1,247,520$1,085,041$1,568,233
Other expenses$-3$0$103,165$0
Investment expenses$-3$0$0$0
Other$0$0$103,165$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$195,486$2,600$12,239
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings3
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006244
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-110,223$197,119$10,635,393
Program service revenue
Program service revenue 1000000$000$0$10,039,218
Program service revenue 2000000$000$0$244,237
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$288,939$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income from mortgaged real property owned by: a school described in section 170(b)(1)(A)(ii); a section 509(a)(3) affiliated support organization of such a school; a section 501(c)(25) organization, or by a partnership in which any of the above organizations owns an interest if the requirements of section 514(c)(9)(B)(vi) are met (section 514(c)(9))$-143,120$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment incomeOther schools and instruction (other than elementary and secondary schools or colleges and universities, which should select a code to describe their unrelated activities)$-110,22300$0$0
Gain or (loss) from sales of assets other than inventory000000$0Section 501(c)(7), (9), or (17) organization - Proceeds from the sale of exempt function property that was or will be timely reinvested in similar property (section 512(a)(3)(D))$10,216$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$351,938
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$41,084$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
510423911100%$-110,536$278,388
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$134,023$11,450$1,306
$76,861$2,400$0
$120,000$1,812$4,925
$80,310$0$0
$77,020$13,730$8,123
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
2003200420052006
Total$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$-110,223$0$-110,223
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-110,223$0$-110,223
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$-110,223
Unrelated business taxable income before net operating loss deduction$-110,223
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-110,223
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1City College Inc2000 W Commercial Blvd Ste 200, Ft Lauderdale, FL 33309-3001FL1992-11$42,265,714
2Aacsb International The Association To Advance Collegiate Schools Of777 S Harbour Island Blvd Ste 750, Tampa, FL 33602-5730FL1970-04$16,805,180
3American College Of Physician Executives Inc400 N Ashley Dr Ste 400, Tampa, FL 33602-4322FL1977-02$9,896,802
4University Of Virginia Mcintire School Of Commerce Foundation125 Ruppel Dr Business Off Rm 301, Charlottesville, VA 22904VA1980-09$9,006,148
5University Of Houston College Of Business Foundation334 Melcher Hall, Houston, TX 77204-6021TX1974-02$7,557,757
6Tsbs Inc, Graduate School Of Banking At Lsu4273 Highland Rd, Baton Rouge, LA 70808-4541LA1981-11$5,645,467
7Jones College Inc5353 Arlington Expressway, Jacksonville, FL 32211-5540FL1951-02$4,273,392
8Texas Society Of Certified Public Accountants Cpe Foundation Inc14651 Dallas Parkway, Dallas, TX 75254-7408TX1977-09$3,167,887
9Tri-State Center For Financial Training158 Macready Ave, Monroe, OH 45050-1319OH1960-03$539,218
10World Business Academy308 E Carrillo Street, Santa Barbara, CA 93101CA1988-03$176,437
11Vscpa Educational Foundation100 State St Ste 500, Montpelier, VT 05602-2881VT1991-01$156,908
12Virginia Future Business Leaders Of America Phi Beta Lambda Foundation123 Wayside Dr, Bridgewater, VA 22812-1754VA1998-03$58,870
13American Institute Of Banking801 Walnut St Ste 400, Kansas City, MO 64106-1823MO$0
14Ens Cachan Foundation For Global Management Studies Inc116 E 63rd St, New York, NY 10021-7325NY1998-06$0
15Jacksonville Chamber Foundation Inc111 Center St Ste 1250, Little Rock, AR 72201-4406AR1997-05$0
16Nebraska Academy For Administrative Leadership455 S 11th St Ste A, Lincoln, NE 68508-2135NE1987-02$0
17Quality Forum Inc8811 Alden Dr Ste 7, Los Angeles, CA 90048-3045CA1996-06$0
18San Francisco Fashion Lab1578 Waller St, San Francisco, CA 94117-2841CA1998-03$0
19Taguchi Academy Inc17333 Federal Dr Ste 220, Allen Park, MI 48101-3649MI1996-02$0
20Texas Regional Solutions Inc701 Brazos Suite 780, Austin, TX 78701TX1996-09$0
Number of organizations performing similar types of work
Arkansas1
California5
Connecticut1
Florida4
Illinois2
Indiana1
Louisiana1
Massachusetts2
Maryland1
Michigan3
Minnesota1
Missouri2
Nebraska1
New York1
Ohio2
Texas4
Virginia2
Vermont1
Total35

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