Civic Intelligence

Seminole Boosters Inc.

990 • Fiscal year 2021 • EIN 59-1561180

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

PO Box 1353Tallahassee, FL 32302-1353

(850) 644-8803

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.35x

Higher debt load relative to assets than 59% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

1.72x

Higher debt load relative to revenue than 81% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

27th percentile

1.1%

Higher net margin than 27% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

89th percentile

$1,547,628

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

5th percentile

-9.0%

Faster asset growth than 5% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

8th percentile

-21%

Faster revenue growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Down

$240,991,921

Down $23,792,798 (-9.0%) from 2020

Net Assets

Down

$157,712,341

Down $5,058,381 (-3.1%) from 2020

Liabilities

Down

$83,279,580

Down $18,734,417 (-18%) from 2020

Revenue

Down

$48,392,781

Down $12,492,444 (-21%) from 2020

Expenses

Down

$47,876,821

Down $9,590,760 (-17%) from 2020

Net Income

Down

$515,960

Down $2,901,684 (-85%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2011: $163,062,331Liabilities 2011: $45,458,433Net Assets 2011: $117,603,8982011Assets 2012: $169,569,087Liabilities 2012: $41,802,523Net Assets 2012: $127,766,5642012Assets 2013: $175,014,902Liabilities 2013: $44,583,788Net Assets 2013: $130,431,1142013Assets 2014: $194,045,036Liabilities 2014: $61,110,161Net Assets 2014: $132,934,8752014Assets 2015: $218,805,736Liabilities 2015: $79,705,294Net Assets 2015: $139,100,4422015Assets 2016: $209,833,240Liabilities 2016: $79,648,097Net Assets 2016: $130,185,1432016Assets 2017: $206,052,208Liabilities 2017: $73,013,120Net Assets 2017: $133,039,0882017Assets 2018: $255,371,643Liabilities 2018: $112,225,367Net Assets 2018: $143,146,2762018Assets 2019: $313,243,141Liabilities 2019: $144,873,717Net Assets 2019: $168,369,4242019Assets 2020: $264,784,719Liabilities 2020: $102,013,997Net Assets 2020: $162,770,7222020Assets 2021: $240,991,921Liabilities 2021: $83,279,580Net Assets 2021: $157,712,3412021Assets 2022: $213,756,436Liabilities 2022: $69,301,101Net Assets 2022: $144,455,3352022Assets 2023: $230,811,125Liabilities 2023: $69,804,974Net Assets 2023: $161,006,1512023Assets 2024: $230,183,894Liabilities 2024: $77,698,492Net Assets 2024: $152,485,4022024

Highlighted filing

2021

Assets$240,991,921
Liabilities$83,279,580
Net Assets$157,712,341

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MExpenses 2011: $41,304,0172011Revenue 2012: $50,691,730Expenses 2012: $38,377,262Net Income 2012: $12,314,4682012Expenses 2013: $36,402,8452013Revenue 2014: $46,422,385Expenses 2014: $44,167,531Net Income 2014: $2,254,8542014Revenue 2015: $54,323,637Expenses 2015: $45,455,120Net Income 2015: $8,868,5172015Revenue 2016: $42,059,077Expenses 2016: $43,710,216Net Income 2016: -$1,651,1392016Revenue 2017: $57,613,670Expenses 2017: $59,679,575Net Income 2017: -$2,065,9052017Revenue 2018: $58,747,722Expenses 2018: $53,495,338Net Income 2018: $5,252,3842018Revenue 2019: $83,236,128Expenses 2019: $58,881,018Net Income 2019: $24,355,1102019Revenue 2020: $60,885,225Expenses 2020: $57,467,581Net Income 2020: $3,417,6442020Revenue 2021: $48,392,781Expenses 2021: $47,876,821Net Income 2021: $515,9602021Revenue 2022: $51,910,244Expenses 2022: $57,864,533Net Income 2022: -$5,954,2892022Revenue 2023: $88,766,017Expenses 2023: $73,899,969Net Income 2023: $14,866,0482023Revenue 2024: $80,561,184Expenses 2024: $91,821,875Net Income 2024: -$11,260,6912024

Highlighted filing

2021

Revenue$48,392,781
Expenses$47,876,821
Net Income$515,960
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.2
Gross Receipts
$91,232,810
Mission and Program Overview

Mission

Seminole boosters, inc. Was created as a not-for-profit organization to stimulate and promote the education, health, and physical welfare of the student of florida state university by providing financial support for the intercollegiate athletic program at fsu.

To provide financial support for the students and intercollegiate athletic programs at florida state university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$162,770,722$157,712,341▼ $5,058,381
Pledges and Grants Receivable$78,156,290$72,993,221▼ $5,163,069
Land, Buildings, and Equipment, Net$69,847,034$72,439,275▲ $2,592,241
Other Notes and Loans Receivable, Net$41,720,834$42,974,105▲ $1,253,271
Investments in Publicly Traded Securities$32,010,634$32,142,453▲ $131,819
Savings and Temporary Cash Investments$21,523,526$16,997,061▼ $4,526,465
Accounts Receivable$1,387,700$1,679,299▲ $291,599
Cash and Non-Interest-Bearing Accounts$529,802$627,457▲ $97,655
Inventories for Sale or Use$180,060$190,554▲ $10,494
Prepaid Expenses and Deferred Charges$655,669$169,802▼ $485,867
Investments Other Securities$100,000$100,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$264,784,719$240,991,921▼ $23,792,798
Other Assets Total$18,673,170$678,694▼ $17,994,476
Liabilities
Unsecured Notes Loans Payable$51,375,036$49,590,132▼ $1,784,904
Deferred Revenue$25,327,167$25,540,382▲ $213,215
Other Liabilities$5,204,429$5,680,860▲ $476,431
Accounts Payable and Accrued Expenses$20,107,365$2,468,206▼ $17,639,159
Total Liabilities$102,013,997$83,279,580▼ $18,734,417
Net Assets / Fund Balance
Total Net Assets Fund Balance$162,770,722$157,712,341▼ $5,058,381
Total Liabilities and Net Assets / Fund Balance$264,784,719$240,991,921▼ $23,792,798

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$42,871,539$2,613,916$39,306,000
Land$28,143,242-$12,853,182
Leasehold Improvements$1,424,494$2,435,183$3,859,677
Equipment$0$3,306,156$3,306,156
Other Land Buildings$0$1,296,379$1,296,379

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$77,769,585$-31,823▲ $669,942-$75,087,755
2019$79,402,971$2,328,363▲ $1,219,653-$77,769,585
2018$77,270,170$3,196,173▲ $3,787,921-$79,402,971
2017$75,598,888$1,384,093▲ $3,386,195-$77,270,170
2016$70,584,620$3,966,596▲ $6,582,511-$75,598,888
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andy MillerCEO (thru 8/31/20)FT$249,198$732,716$981,914
Tom CarlsonSenior VPFT$148,561$116,038$264,599
Greg HulenExecutive VPFT$175,017$88,011$263,028
Mike DasherSenior VPFT$130,049$81,386$211,435
Eric CarrSenior VPFT$108,921$99,431$208,352
William SextonDirectorFT$115,076$73,079$188,155
Jp SinclairCheif Financial OfficerFT$125,742$16,686$142,428
Michael AlfordCEO (starting 9/1/20)FT$80,095$1,920$82,015

Board Members and Trustees

NameTitle
Bob DavisChairman
Jimmy GraganellaVice Chairman
Alan FlaumenhaftDirector
Andy JhanjiDirector
Andy NormanDirector
Anne HamiltonDirector
Barry VaughnDirector
Beth LangfordDirector
Betsy EvansDirector
Bill DawkinsDirector
Bill HagenDirector
Bill StephensonDirector
Brett LindquistDirector
Brian MurphyDirector
Clif CurryDirector
Craig DewhurstDirector
Craig RamseyDirector
Dan BergerDirector
Daniel HendrixDirector
David CoburnDirector
Delores SpearmanDirector
Diana AzorDirector
Doug DunlapDirector
Douglas RussellDirector
Ed BurrDirector
Eleanor ConnanDirector
Gary ThurstonDirector
Jan SikesDirector
Jeff StoopsDirector
Jerry WilliamsDirector
Jim BoydDirector
Jim SteinerDirector
John CroweDirector
John MccannDirector
John ThrasherDirector
Kevin CarpenterDirector
Linda DupreeDirector
Marilyn CoxDirector
Mark HillisDirector
Mark ShelnuttDirector
Mary DemetreeDirector
Mike KosloskeDirector
Mike SummeyDirector
Moises IssaDirector
Nancy MckayDirector
Nick IarossiDirector
Pam PerreweDirector
Pete LawDirector
Peter BoulwareDirector
Philip TroyerDirector
Rich HeffleyDirector
Richard McmullenDirector
Richard WelchDirector
Riley RubioDirector
Scott DarlingDirector
Scott MaddenDirector
Teri MillerDirector
Warner PeacockDirector
Wo BellDirector
Parrish OwensSecretary
Charles DudleyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jack Porter INCDesign Services112 W STONE AVE SUITE A, Greenville, SC 29609$545,669
Sorinex Exercise Equipment INCWeight Equipment193 LITTON DR, Lexington, SC 29073$285,428
FrameVideography1126 HAYS ST, Tallahassee, FL 32301$160,000
PopulousArchitectural Design4800 MAIN ST SUITE 300, Kansas City, MO 64112$125,000
Revenue and Support

Revenue Composition

Contributions and Grants
$35,624,666
Program Service Revenue
$4,095,519
Investment Income
$3,291,061
Other Revenue
$5,381,535
All Other Contributions
$34,737,642
Change in Net Assets
$515,960

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded43$2,105,527Market Value
Real Estate Commercial5$1,954,000Appraised Value
Real Estate Residential1$250,000Appraised Value
Total Noncash Contributions49$4,309,527-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,108,225
Salaries, Compensation, and Employee Benefits$6,933,628
Grants and Similar Amounts Paid$6,834,968
Total Fundraising Expense$4,428,247
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$9,976,688--$9,976,688
Grants to Domestic Orgs$6,834,968--$6,834,968
Other Expenses$3,636,925$416,629$277,753$3,636,925
Other Salaries and Wages$167,020$1,904,029$1,269,352$3,340,401
Current Officers, Directors, Trustees, and Key Employees$104,328$1,189,334$792,889$2,086,551
All Other Expenses$2,608,914$-567,694$-6,620$2,034,600
Office Expenses-$639,051$408,581$1,047,632
Other Employee Benefits$55,977$790,037$143,682$989,696
Depreciation Depletion$824,615--$824,615
Interest$11,956$725,377-$737,333
Fees for Services Other$35,050$355,577$237,052$627,679
Travel$419,003--$419,003
Payroll Taxes$15,584$177,656$118,437$311,677
Information Technology-$159,110$106,074$265,184
Fees for Service Investment Mgmnt Fees-$262,255-$262,255
Pension Plan Contributions$10,265$67,242$127,796$205,303
Insurance-$98,212$58,795$157,007
Fees for Services Accounting-$83,641$55,761$139,402
Occupancy$74,105--$74,105
Advertising$73,389--$73,389
Fees for Services Legal-$19,806$13,204$33,010
Conferences and Meetings$11,808--$11,808
Total Functional Expenses$37,128,312$6,320,262$4,428,247$47,876,821
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fsu Financial Assistance IncTallahassee, FL501(c)(3)Overall Funding and Debt Payments$6,834,968
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$85,926
Fundraising Direct Expenses$79,251
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Tour Event - Tampa$78,426$78,426$41,745$36,681
Football Away Games$7,500$7,500-$7,500
Total Events$85,926$85,926$79,251$6,675
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Fsu Foundation$3,410,000
Due to Ucc Management Company$1,016,699
Ppp Loan$819,165
Other Liabilities$434,996
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The cfo reviews form 990 with the treasurer and resolves any issues or questions with the independent accounting firm that prepares the forms. The board of directors has delegated to the finance and budget committee and audit committee the responsibility for the final review of the form 990. The finance and budget committee, audit committee, and treasurer review the form 990 before it is filed with the internal revenue service. The is done concurrently with management and any questions as a result of that review are answered. No further review by the board is required before the forms are filed with the irs.

Form 990, Part VI, Section B, Line 12C

Board of directors are required to disclose annually to the chairman any known or potential conflicts of interest. The chairman ensures that all conflicts are resolved.

Form 990, Part VI, Section B, Line 15

The compensation committee establishes compensation for management of seminole boosters, inc. The compensation committee uses the following to establish compensation for management of seminole boosters: 1) written employment contract 2) independent compensation consultant 3) compensation survey or study 4) form 990 of other organizations 5) compensation committee submits recommendations for board approval. The last compensation study was performed in 2020. The wages for the ceo were reviewed and approved during the 06/30/2021 fiscal year.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and three most current years of finanical statements and form 990s available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Seminole Boosters Inc
EIN
59-1561180
Phone
8506448803
Address
PO BOX 1353, TALLAHASSEE, FL 32302-1353

Signing Officer

Name
Jp Sinclair
Title
CFO
Phone
8506448803
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jp Sinclair
Formed
1974
Legal Domicile
Fl
Voting Board Members
61
Independent Board Members
57
Employees
71
Volunteers
110

Preparer

Firm
Thomas Howell Ferguson Pa
Address
2615 CENTENNIAL BLVD SUITE 200, TALLAHASSEE, FL 32308
Preparer
Winston K Howell
Phone
8506688100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

In-kind revenue 529,250. In-kind expense -671,009.

Regulation Section 1.263(A)-1(F) - De Minimis Safe Harbor Election

Taxpayer name: seminole boosters, inc. Taxpayer address: po box 1353, tallahassee, fl 3302-1353 taxpayer id number: 59-1561180 year-end: 06/30/2021 under irc regulation section 1.263(a)-1(f), the taxpayer hereby elects to apply the de minimis safe harbor election.

Financial Statement Notes

Part V, Line 4

The intended use of the endowment is to fund athletics, which includes scholarships for florida state university student-athletes in every ncaa sanctioned sport in which florida state university participates.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt6316686
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IRS990/Form990PartVIISectionAGrp/PersonNm0ALAN FLAUMENHAFT
IRS990/Form990PartVIISectionAGrp/PersonNm1ANDY MILLER
IRS990/Form990PartVIISectionAGrp/PersonNm2ANDY JHANJI
IRS990/Form990PartVIISectionAGrp/PersonNm3ANDY NORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm4ANNE HAMILTON
IRS990/Form990PartVIISectionAGrp/PersonNm5BARRY VAUGHN
IRS990/Form990PartVIISectionAGrp/PersonNm6BETH LANGFORD
IRS990/Form990PartVIISectionAGrp/PersonNm7BETSY EVANS
IRS990/Form990PartVIISectionAGrp/PersonNm8BILL DAWKINS
IRS990/Form990PartVIISectionAGrp/PersonNm9BILL HAGEN
IRS990/Form990PartVIISectionAGrp/PersonNm10BILL STEPHENSON
IRS990/Form990PartVIISectionAGrp/PersonNm11BOB DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm12BRETT LINDQUIST
IRS990/Form990PartVIISectionAGrp/PersonNm13BRIAN MURPHY
IRS990/Form990PartVIISectionAGrp/PersonNm14CHARLES DUDLEY
IRS990/Form990PartVIISectionAGrp/PersonNm15CLIF CURRY
IRS990/Form990PartVIISectionAGrp/PersonNm16CRAIG DEWHURST
IRS990/Form990PartVIISectionAGrp/PersonNm17CRAIG RAMSEY
IRS990/Form990PartVIISectionAGrp/PersonNm18DAN BERGER
IRS990/Form990PartVIISectionAGrp/PersonNm19DANIEL HENDRIX
IRS990/Form990PartVIISectionAGrp/PersonNm20DAVID COBURN
IRS990/Form990PartVIISectionAGrp/PersonNm21DELORES SPEARMAN
IRS990/Form990PartVIISectionAGrp/PersonNm22DIANA AZOR
IRS990/Form990PartVIISectionAGrp/PersonNm23DOUG DUNLAP
IRS990/Form990PartVIISectionAGrp/PersonNm24DOUGLAS RUSSELL
IRS990/Form990PartVIISectionAGrp/PersonNm25ED BURR
IRS990/Form990PartVIISectionAGrp/PersonNm26ELEANOR CONNAN
IRS990/Form990PartVIISectionAGrp/PersonNm27GARY THURSTON
IRS990/Form990PartVIISectionAGrp/PersonNm28JAN SIKES
IRS990/Form990PartVIISectionAGrp/PersonNm29JEFF STOOPS
IRS990/Form990PartVIISectionAGrp/PersonNm30JERRY WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm31JIM BOYD
IRS990/Form990PartVIISectionAGrp/PersonNm32JIM STEINER
IRS990/Form990PartVIISectionAGrp/PersonNm33JIMMY GRAGANELLA
IRS990/Form990PartVIISectionAGrp/PersonNm34JOHN CROWE
IRS990/Form990PartVIISectionAGrp/PersonNm35JOHN MCCANN
IRS990/Form990PartVIISectionAGrp/PersonNm36JOHN THRASHER
IRS990/Form990PartVIISectionAGrp/PersonNm37KEVIN CARPENTER
IRS990/Form990PartVIISectionAGrp/PersonNm38LINDA DUPREE
IRS990/Form990PartVIISectionAGrp/PersonNm39MARILYN COX
IRS990/Form990PartVIISectionAGrp/PersonNm40MARK HILLIS
IRS990/Form990PartVIISectionAGrp/PersonNm41MARK SHELNUTT
IRS990/Form990PartVIISectionAGrp/PersonNm42MARY DEMETREE
IRS990/Form990PartVIISectionAGrp/PersonNm43MICHAEL ALFORD
IRS990/Form990PartVIISectionAGrp/PersonNm44MIKE KOSLOSKE
IRS990/Form990PartVIISectionAGrp/PersonNm45MIKE SUMMEY
IRS990/Form990PartVIISectionAGrp/PersonNm46MOISES ISSA
IRS990/Form990PartVIISectionAGrp/PersonNm47NANCY MCKAY
IRS990/Form990PartVIISectionAGrp/PersonNm48NICK IAROSSI
IRS990/Form990PartVIISectionAGrp/PersonNm49PAM PERREWE
IRS990/Form990PartVIISectionAGrp/PersonNm50PARRISH OWENS
IRS990/Form990PartVIISectionAGrp/PersonNm51PETE LAW
IRS990/Form990PartVIISectionAGrp/PersonNm52PETER BOULWARE
IRS990/Form990PartVIISectionAGrp/PersonNm53PHILIP TROYER

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$230$77.7$152$80.6$91.8$11.3
2023Summary only. Only limited summary data is available for this year.$231$69.8$161$88.8$73.9$14.9
2022Summary only. Only limited summary data is available for this year.$214$69.3$144$51.9$57.9$5.95
2021Detailed filing. Detailed filing data is available for this year.$241$83.3$158$48.4$47.9$0.52
2020Summary only. Only limited summary data is available for this year.$265$102$163$60.9$57.5$3.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$313$145$168$83.2$58.9$24.4
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$255$112$143$58.7$53.5$5.25
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$206$73.0$133$57.6$59.7$2.07
2016Detailed filing. Detailed filing data is available for this year.$210$79.6$130$42.1$43.7$1.65
2015Detailed filing. Detailed filing data is available for this year.$219$79.7$139$54.3$45.5$8.87
2014Detailed filing. Detailed filing data is available for this year.$194$61.1$133$46.4$44.2$2.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$175$44.6$130$36.4
2012Summary only. Only limited summary data is available for this year.$170$41.8$128$50.7$38.4$12.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$163$45.5$118$41.3