About the New College Foundation
A 501(c)(3) higher education foundation with over two decades of service to the students, families, and communities of Florida's Gulf Coast region.
Our Mission
The New College Foundation exists to expand access to higher education for students in Sarasota, Manatee, Charlotte, DeSoto, and Hardee counties by providing merit and need-based scholarships, delivering evidence-based academic enrichment programs, and building community-wide college readiness infrastructure. We believe that every student with the talent and determination to earn a college degree deserves the opportunity to do so, regardless of their family's financial circumstances, zip code, or generational educational history.
Our History
The Foundation was incorporated in the State of Florida in January 2003 by a coalition of local educators, business leaders, and philanthropists who recognized a growing disparity in college enrollment and completion rates among students in the Gulf Coast region. Led by founding Executive Director Dr. Margaret Whitfield, a former college admissions dean at Eckerd College, the organization's initial efforts focused on establishing a sustainable scholarship endowment and forging partnerships with area high schools to provide college counseling to first-generation students.
In its first year of operation, the Foundation awarded $42,000 in scholarships to eighteen students. By 2010, annual distributions had grown to over $600,000, and the organization had launched its first academic enrichment program, the College Bridge Intensive. The 2015 strategic plan expanded the Foundation's reach to include STEM research fellowships, standardized test preparation clinics, and a formal partnership network encompassing fifteen high schools, four community colleges, and dozens of civic and faith-based organizations.
Today, the Foundation manages an endowment of $22.4 million, administers forty-three named scholarship funds, and operates six distinct academic programs serving over 800 students annually. Our cumulative impact since inception includes more than $14.2 million in direct scholarship assistance to 3,800 individual recipients, with a 91% degree completion rate among multi-year scholarship holders.
Board of Trustees
The Foundation is governed by a volunteer Board of Trustees comprising fifteen community leaders with expertise in education, finance, law, healthcare, and business management. Board members serve staggered three-year terms and may be reappointed for a maximum of three consecutive terms. The Board meets quarterly and maintains four standing committees: Executive, Finance and Investment, Scholarship Review, and Programs and Community Partnerships.
- Dr. Catherine M. Hargrove, Chair — Retired Provost, University of South Florida Sarasota-Manatee; Ed.D., Higher Education Administration, University of Michigan.
- James R. Castillo, Vice Chair — Managing Partner, Castillo & Reeves, P.A.; J.D., Stetson University College of Law. Expertise in nonprofit governance and planned giving.
- Anita Desmond-Williams, Treasurer — Senior Vice President, Gulf Coast Community Bank; CPA, M.B.A., Rollins College. Chairs the Finance and Investment Committee.
- Rev. Thomas Okonkwo, Secretary — Senior Pastor, Grace Covenant Fellowship; M.Div., Duke Divinity School. Leads community engagement and faith-based partnerships.
- Dr. Sanjay Patel — Professor of Environmental Chemistry, New College of Florida; Ph.D., Scripps Institution of Oceanography. Faculty advisor for the Coastal Science Research Fellowship.
- Maria Elena Gutierrez — Executive Director, Hispanic Heritage Foundation of Sarasota; M.A., Public Administration, Florida Atlantic University.
- Col. (Ret.) David Bergstrom — Former Commander, USAF 6th Air Refueling Wing, MacDill AFB; M.S., Strategic Studies, Air War College. Veterans Fund advisory role.
- Helen Cavanaugh — Retired educator and philanthropist; founder of the Community Leadership Scholarship fund in memory of Robert W. Cavanaugh.
Executive Leadership
Dr. Rachel Simmons, Executive Director
Dr. Simmons joined the Foundation in 2018 after fifteen years in higher education administration, including roles as Associate Dean of Student Success at Stetson University and Director of College Access Programs at the Florida College Access Network. She holds a Ph.D. in Educational Leadership from the University of Florida and a B.A. in Sociology from Spelman College. Under her leadership, the Foundation has increased annual scholarship distributions by 34%, launched the Data Science Bootcamp and Returning Scholars Initiative, and achieved GuideStar Gold Seal transparency status.
Michael Tran, Director of Development
Michael oversees all fundraising activities, donor relations, and strategic partnerships. Prior to joining the Foundation, he served as Major Gifts Officer at the Community Foundation of Sarasota County and as a development associate at the Ringling Museum. He holds a B.A. in Communications from the University of Central Florida and is a Certified Fund Raising Executive (CFRE).
Dr. Lisa Monroe, Director of Programs
Dr. Monroe manages the Foundation's portfolio of academic programs and community partnerships. She brings twenty years of experience in curriculum design, instructional coaching, and program evaluation, including a decade with the Sarasota County School District as Coordinator of Advanced Placement and Gifted Programs. She holds an Ed.D. in Curriculum and Instruction from the University of South Florida.
Financial Transparency
The New College Foundation is committed to the highest standards of fiscal accountability. Our financial statements are audited annually by the independent certified public accounting firm of Carr, Riggs & Ingram, LLC, and our most recent audit received an unqualified (clean) opinion with no material findings. We are registered with the Florida Department of Agriculture and Consumer Services under charitable solicitation registration number CH-48201 and maintain active status with the Internal Revenue Service as a 501(c)(3) tax-exempt organization (EIN: 59-3841027).
In fiscal year 2025, the Foundation expended 89% of total revenue on program services, 7% on fundraising activities, and 4% on general administration. Our endowment portfolio is managed by Raymond James Financial in accordance with the Foundation's Investment Policy Statement, which prioritizes capital preservation, moderate growth, and socially responsible screening criteria. Current endowment assets under management total approximately $22.4 million.