# Florida State College at Jacksonville Foundation Florida State College at Jacksonville Foundation is an Endowment / Foundation based in Jacksonville, United States. ## Overview - **Organization type:** Endowment / Foundation - **Headquarters:** Jacksonville, United States - **Region:** North America - **Address:** Jacksonville, FL, United States - **Founded:** 1972 - **Assets under management:** $58M (Altss estimate) - **Website:** fscjfoundation.org - **LinkedIn:** https://www.linkedin.com/company/florida-state-college-at-jacksonville-foundation-inc ## Regulatory record - **Reports private funds:** No ## About The Florida State College at Jacksonville Foundation was established in 1972 as a separate 501(c)(3) to fill funding gaps that state aid and tuition cannot cover. It operates alongside the college, with President John Avendano and Chief Investment and Advancement Relations Officer Cleve Warren guiding strategy, while a board stacked with regional executives — Brent Lister of First Florida Credit Union and Michael Corrigan of Visit Jacksonville — sets fiduciary direction. Warren’s investment team runs a diversified pool that spans real estate, multistrategy hedge funds, venture capital, natural resource funds, and ETFs. Direct property holdings include the 20 West Adams mixed-use building and campus-adjacent commercial parcels, while the venture sleeve touches seed, early-stage, and growth exposures through fund commitments. The foundation also derives revenue from the FSCJ Artist Series, which books touring Broadway productions at Jacksonville’s Center for the Performing Arts — a revenue stream unusual among community-college endowments. Confirmed donor partners include the Fidelity Foundation ($600,000 grant), the Jessie Ball du Pont Fund ($242,401), and the PGA Tour. The foundation reports into the NACUBO-TIAA Study of Endowments, with an estimated pool of $58 million as of 2026. The board draws on Jacksonville’s corporate base: Michael Burns of CSX, Paige Hakimian of Hakimian Holdings, and real-estate attorney Christopher A. Walker of Lippes Mathias all hold seats. In the last two years, standard stewardship activity — grant disbursements, scholarship awards — has continued without a publicly disclosed flagship commitment or vehicle launch. What separates this foundation from a typical community-college endowment is its management of a live performing-arts series and a physical real estate book that includes downtown commercial space, rather than outsourcing all non-financial assets to the college’s operations. ## Sectors - Real Estate - Hedge Funds - Venture Capital - Natural Resources - Exchange Traded Funds ## People - John Avendano — President, Florida State College at Jacksonville - Cleve Warren — Chief Investment and Advancement Relations Officer - Brent Lister — Chair, Foundation Board of Directors; President & CEO, First Florida Credit Union - Michael Corrigan — Vice Chair, Foundation Board; President & CEO, Visit Jacksonville - Jeff Mall — Treasurer, Foundation Board; Wealth Management Advisor, Northwestern Mutual - Sasha Poulos — Secretary, Foundation Board; Vice President, Bank of America Private Bank ## Questions ### Who runs investment decisions at the Florida State College at Jacksonville Foundation? Cleve Warren serves as Chief Investment and Advancement Relations Officer and oversees day-to-day portfolio management. Ultimate fiduciary authority rests with the Foundation’s board, chaired by Brent Lister. The board includes executives from First Florida Credit Union, Visit Jacksonville, and Bank of America Private Bank, providing a mix of financial and community oversight. ### Does the foundation make direct investments or use external managers? The portfolio relies primarily on external managers across asset classes. Real estate holdings are direct — the foundation owns downtown commercial space and campus-adjacent properties — but venture capital, hedge fund, and natural resource allocations appear to flow through fund commitments rather than direct co-investments. ### How does the FSCJ Artist Series fit into the endowment? The foundation operates the FSCJ Artist Series, which presents touring Broadway productions and other performances at Jacksonville’s Center for the Performing Arts. Ticket revenue and related philanthropy form a distinct operating income stream within the foundation, separate from the investment portfolio — an unusual dual mandate for a community-college endowment. ### Which donors have made the largest recent grants? The Fidelity Foundation contributed $600,000 in grant funding, and the Jessie Ball du Pont Fund provided $242,401, based on Altss research records. The PGA Tour is also listed as a corporate donor providing general support grants. ### Is the foundation a state entity or independent? It is a legally separate 501(c)(3) not-for-profit corporation, established in 1972 to support Florida State College at Jacksonville. The college president sits on the board, but the foundation maintains its own fiduciary board, investment portfolio, and operating activities — including the Artist Series — outside the state budget. ### What investment stages does the venture capital allocation target? The foundation’s venture exposure spans seed, early-stage, and growth-stage strategies, executed via fund-of-funds commitments rather than direct start-up investments. There is no public record of the foundation participating in discrete venture rounds alongside external GPs. ### What is the foundation’s known posture on co-investments alongside external GPs? There is no public evidence of co-investment activity. The foundation’s alternative allocations appear to run through commingled funds, and the board’s financial professionals — including Northwestern Mutual’s Jeff Mall as treasurer — suggest a preference for delegated manager selection over direct deal participation. ## Related profiles - [Field Foundation of Illinois](https://altss.com/profile/field-foundation-of-illinois) - [Galveston Firefighter's Relief and Retirement Fund](https://altss.com/profile/galveston-firefighter-s-relief-and-retirement-fund) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/florida-state-college-at-jacksonville Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology