2019 ANNUAL STEWARDSHIP REPORT SEMINOLE BOOSTERS, INC.
MISSION As the Direct Support Organization for Florida State University Athletics, Seminole Boosters, Inc. is responsible for engaging supporters of FSU in order to generate financial contributions for the purpose of enriching the overall educational and athletic experience for more than 425 student-athletes participating in 20 sports programs by providing financial security for long-term growth and prosperity.
VISION Achieve comprehensive excellence, both on the field and off, for each studentathlete by fully funding the scholarship endowment, building and maintaining elite facilities and having long-lasting, meaningful relationships with our supporters.
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BOB DAVIS
DAVID COBURN
ANDY MILLER
Chairman of the Board, Seminole Boosters, Inc.
Director of Athletics
President & CEO, Seminole Boosters, Inc.
One of the reasons that FSU is now recognized as a top twenty public university is because of the success we have on the athletic field. Our donors make everything we do possible. Prior to the Coronavirus Pandemic that caused all of our athletic events to be canceled and our students being sent home to take their classes remotely, we were having an incredible run in athletics. Once this medical crisis passes and our life can begin to return to normalcy we look forward to our student-athletes to begin competing again. We thank you for your support in the past and ask that you continue to help make FSU the best, both on and off the field.
We completed one of the most successful years in Seminole sports history in 2018-19. Finishing 7th in the Learfield Cup standings was very satisfying for all of us, and reflected an incredible effort by all our teams. I want to thank all of you for your generous support of FSU Athletics and the Seminole Boosters. Everything we accomplish is a direct result of your efforts. I speak to our StudentAthletes constantly, and I assure you that they are not only aware of the help you provide, but are also extremely thankful. As I write this, we are in the midst of the COVID-19 crisis. I know it is affecting all of you, both personally and professionally. I hope that you and your families are able to remain safe and healthy. I pledge to you that we are doing everything we can to make sure that our Student-Athletes, coaches and staff remain safe and healthy. With your continued support, I anticipate that we will weather this crisis and emerge stronger and more united than ever.
Your sustained, meaningful suppor t inspires us each day as we train passionate, dedicated Student-Athletes. Competing at an elite level while earning a degree requires commitment, and your investment represents more than just financial suppor t. It signals a belief in what our Athletic Depar tment means to not only our Student-Athletes, but also our community. Thank you for helping Florida State move forward with confidence, providing life-changing experiences for each one of our Student-Athletes and advancing knowledge to create a better future. Your generosity is strengthening FSU and will continue to do so for generations to come.
Thank you, again, for everything you do for all of us every day, and GO NOLES! 2
Our Booster Donors are an extension of our athletics family. Your continued support allows us as a coaching staff to have the opportunity to keep the program moving upward. The resources are important; however, the pride and passion our donors bring to our program has been impactful and wonderful. Thank you to all that have been a part of supporting our program and FSU athletics, we are truly grateful.
LONNI ALAMEDA Softball, Head Coach 2018 National Champions
The Seminole Boosters have allowed me to grow, connect and succeed at FSU. Each of their donations has provided me with the necessary equipment and resources I need to flourish athletically and academically. I greatly appreciate their support!
MEGAN MOONEY Women’s Cross Country Junior, Thornton, CO
Belief. Faith. Support. Gratitude. These are the first words that come to mind when I think of the support that I receive from the Seminole Boosters as a student-athlete at Florida State University. The Boosters are the team behind the teams. We know they are there for us providing scholarship support, cheering us on in the stands, and encouraging us to be the best versions of ourselves for today and tomorrow.
TRENT FORREST Men’s Basketball 3 Senior, Chipley, FL
Student Athlete Academic SUCCESS SUMMARY - FALL 2018
109
Student-Athletes made the
DEAN’S LIST (3.5+ on 12 letter-graded hours)
DEPT. TERM GPA
2.983
55% 267
Student-Athletes with a
3.0 GPA OR ABOVE
12 TEAMS ABOVE A
3.0 GPA
35
Student-Athletes made the
PRESIDENT’S LIST (4.0 on 12 letter-graded hours)
DEPT. CUM GPA
3.026
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Student Athlete Academic SUCCESS SUMMARY - SPRING 2019
85
40
Student-Athletes
Student-Athletes
made the
made the
DEAN’S LIST
PRESIDENT’S LIST
(3.5+ on 12 letter-graded hours)
(4.0 on 12 letter-graded hours)
61% 277
Student-Athletes with a
3.0 GPA OR ABOVE
12 TEAMS ABOVE A
3.0 GPA
5
DEPT. CUM GPA
DEPT. TERM GPA
3.088
3.064
Fiscal Year 2018-2019 Scholarship Commitments $2,229,864 Scholarship Payments $6,708,523 Facility Commitments $33,260,908
A Year in Review SEMINOLE BOOSTERS, INC
Pledge Write-Offs $8,922,152
$78,365,862 Supporting Services $6,453,999 Program Services $55,342,149
Facility Payments $10,004,024 Planned Gift Commitments $8,508,113
431 Donors
GAVE TO 105 SCHOLARSHIPS
302 Donors
EXPENSES AS OF JUNE 30, 2019
Interest Expense $7,647,562
Investment Income $4,520,927
Royalties $3,406,236
Charges for Services $10,246,659
Other Revenues $13,454,870
Skybox & Club $8,675,800
Rent Income Stadium Lease $1,850,000
REVENUES AS OF JUNE 30, 2019 $101,251,158
Contributions $59,096,666
GAVE TO 21 FACILITY PROJECTS 6
Endowment Report
2019
Florida State’s endowment is ever-growing and consists of 631 funds that ensure the financial stability of the Athletic Department. The contributions from those funds are invested collectively through Seminole Boosters, Inc., and a portion of the total earnings is transferred each year to help cover the cost of our athletic scholarships. These funds help Florida State Athletics maintain a competitive edge in attracting and retaining top Student-Athletes and enable our programs to continue to grow and enrich the lives of all Student-Athletes who step foot on our campus.
Total Endowment on June 30, 2019 • $77.64M 90
D O L L A R S IN MIL L ION S
80 77.64 70.37
70 63.03
60 57.32 54.74
50 40 30 2015
2016
2017
2018
2019
FISCAL YEARS (JULY 1, 2018 - JUNE 30, 2019)
The chart above represents the fair market value of the endowment for each fiscal year over a five-year period. As of June 30, 2019 the Seminole Boosters, Inc. Athletic Scholarship Fund consisted of a total of 631 endowments. The total market value of the endowment accounts on June 30, 2019 was $77.6 million.
Total Endowment Activity Financial Statement July 1, 2018 - June 30, 2019
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Market Value at 6/30/18
$70,373,037
Total Gifts Received
$6,708,523
Net Appreciation
$5,459,333
Net Expenditures
-$4,904,292
Market Value at 6/30/19
$77,636,601
2018-2019 ENDOWMENT HIGHLIGHTS 7/1/18 thru 6/30/19: The Seminole Boosters Athletic Scholarship Endowment increased by $7.3 million to $77.6 million. Seminole Boosters, Inc. provided a total of $11.3 million in 2019 for Athletic Department Scholarships, with $2,500,000 coming directly from the Seminole Boosters Athletic Scholarship Endowment. In the past five years: The Seminole Boosters Athletic Scholarship Endowment asset value increased by $20.3 million. Over the five year period ending June 30, 2019 Seminole Boosters, Inc. provided a total of $54.9 million for Athletic Department Scholarships, with $6.9 million coming directly from the Seminole Boosters Athletic Scholarship Endowment.
Deferred Giving: This endowment report is reflective of current assets under management. Any deferred commitments towards the endowment are currently recognized in the Custodes Lampadis Society and will not receive endowment reports or be included in the endowment total until realized. Real Estate: Endowment real estate was appraised during the 2019 fiscal year and all changes in value have been recorded.
GLOSSARY OF TERMS RELATED TO FINANCIAL SUMMARY Market Value of Endowment: Value of the endowment at a point in time. Total Gifts Received: The sum of gifts received for the fiscal year ending June 30, 2019. Net Appreciation: The realized and unrealized gains and losses earned by the Seminole Boosters Athletic Scholarship Endowment Fund for the fiscal year ending June 30, 2019. Net Expenditures: The expenditures and Seminole Boosters, Inc. administrative fee paid for the fiscal year ending June 30, 2019.
From July 1, 2018 until June 30, 2019 more than $2.2 million was pledged specifically to help grow our endowment with just over $6.7 million in contributions collected. The following people have made significant contributions of $50,000 or more to our endowment program during the 2018-2019 fiscal year: Stephen and Lucia Bailey Barbara J. Bass Brevard Seminole Club Arthur and Maria Castle Jeff and Wendy Clark James and Patsy Coleman
Jim and Carole Henderson Mike Hipps Manatee Seminole Club John and Kathleen Pirtle David Richard Patricia A. Sargeant
Larry Sartin and Marilyn Lawrence Seminole Club of Naples Frank T. and Anne E. Vicino Kamerion D. Wimbley
For information about this report, please contact: JP Sinclair • Chief Financial Officer at Seminole Boosters, Inc. 225 DeVoe L. Moore University Center • Suite C-5100 • Tallahassee, FL 32302 850.644.6595 • jpsinclair@fsu.edu • SeminoleBoosters.com 8
Facilities Updates R E C E N T LY C O M P L E T E D P R O J E C T S Through private funding provided through Seminole Boosters, the Florida State University Athletic Department has recently made several investments in athletic facilities that directly impact our Student-Athletes’ ability to train and compete for championships, as well as enhance the fan experience. These facilities include but are not limited to: renovation and grand reopening of the Seminole Legacy Golf Club, creation of the new shade structure at the softball stadium, and new field lighting at Dick Howser Stadium. These facilities will allow our Student-Athletes to train every day in an environment that fosters learning, growth, and achieving greatness.
New Lighting at Dick Howser Stadium 9
SEMINOLE LEGACY GOLF CLUB AT DON VELLER GOLF COURSE
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SHADE STRUCTURE AT SEMINOLE SOFTBALL COMPLEX
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Facilities Updates WHAT’S NEXT Looking ahead, Seminole Boosters and the Athletic Department continue to focus on evaluating and planning for the next round of facility projects.
These areas include but are not limited to the football operations, Phase II of the Tucker Center renovations and the master plan for Dick Howser Stadium. These projects will elevate our ability to compete at the next level and achieve national recognition.
In the past year, more than $33.3 million was pledged to make these and other facility projects happen, with over $10 million in contributions collected. We thank our supporters who share a passion for these sports and helped us make this investment in current and future Seminoles. The following contributors have made significant investments of $50,000 or more specifically to facility projects during the 2018-2019 fiscal year: George D. Avant, Jr.
Jimmy and Lisa Graganella
Anonymous 2
Jorge and Diana Azor
Jorge and Nichol Gutierrez
Alicia Crew and Janet Stoner
Robin Barber
Jim and Carole Henderson
The Stoops Family Foundation
Anonymous 1
David and Stacy Herzog
Philip and Deirdre Troyer
Chip and Lisa Brady
Moises Issa, M.D.
The Urban Family
Busy Bee
Richard and Gwen McMullen
Ware Oil & Supply
Childers Construction Company, Inc.
Russ and Genie Morcom
Dr. Janet Wells
Charles and Stella Cottrell
The Vaughn Family
Scott D. Wilson
Crossman Family
Parrish and Cat Owens
John and Betty Crowe, Sr.
Jon and Susanne Powers
Scott and Marion Darling
The Price Family
Al and Judy Dunlap
John and Janie Robinson
Leon and Stacey Fowler
Doug and Julia Rohan
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Planned Giving LIFETIME PLANNED GIVING COMMITMENTS THROUGH JUNE 30, 2019 Charitable Remainder UniTrust $6,179,602 Charitable Lead Annuity Trust $511,162 Charitable Remainder Annuity Trust $1,229,000
TOTAL PLANNED GIFTS
Real Estate $5,085,150 Charitable Gift Annuity $987,400
$145,610,484
Pooled Income Fund $452,512 Life Insurance $819,300 Retained Life Estate $354,676
Bequest Gifts $129,991,682
The following Seminoles have committed to leave a lasting legacy through their planned giving of at least $50,000 or more: George D. Avant, Jr. Murray and Kathryn Brooks Paul and Mary Ann Broome Paul Coombs Catherine L. Copeland 13
Mike Hipps Hal L. Jackson Jimmy Kitts Patrick and Sherry Maroney Larry Sartin and Marilyn Lawrence
Jim R. Steiner, Jr. Michael G. Stephens Michael and Laura Thomas Russ Vorhis Scott D. Wilson
Unrestricted Giving SEMINOLE BOOSTERS, INC Unrestricted commitments play a key role in helping to fund the priorities of the Athletic Department while provide the flexibility to allow FSUAA leadership the ability to identify where they can have the greatest impact. These dollars go to work immediately in core areas to support our Student-Athletes and Coaches as well as the athletic facilities and operating costs that are accrued throughout the academic year. By providing Florida State with a steady stream of discretionary monies, unrestricted dollars enable the Athletic Department to fund recurring costs and to address unforeseen problems as they arise. The following contributors have made significant investments of $50,000 or more specifically to the unrestricted fund during the 2018-2019 fiscal year: Astro Travel & Tours, Inc. Richard S. Kearney James L. Lee
Restricted Giving SEMINOLE BOOSTERS, INC Restricted giving provides alumni and fans of Florida State Athletics an exclusive opportunity to direct their financial support to the head coach and team of their choice. Every dollar given to a restricted fund is immediately directed to the designated program in order to provide funds for urgent needs not covered in the team’s annual budget. The money raised for our teams through these means is a major component in helping to ensure that all of our programs at Florida State continue to compete at the highest level of collegiate athletics while continuing to develop elite talent into championship student-athletes both in the classroom and in competition. The following contributors have made significant investments of $50,000 or more specifically to restricted funds during the 2018-2019 fiscal year: Anonymous 1 Jimmy and Lisa Graganella Herb and Mary Jervis 14
The Unconquered Campaign THE CAMPAIGN FOR ATHLETICS EXCELLENCE It has been an exciting second year for the five-year Unconquered Campaign as it continues toward its goal of $100 million in support of Florida State athletics. We are pleased to report over $91 million has been committed to the campaign with over $20 million in cash and real estate collected as of April 2020. This has been an unbelievable testament to the vision and support of the entire Seminole family.
OVER
$91 MILLION* PLEDGED DURING THE CAMPAIGN, THE FOLLOWING PROJECTS WILL BE ADDRESSED: Football Operations t FSU will make a $60 million investment in the day-to-day support space for the Seminole football team. Included in this will be new training, weight, and team meeting rooms.
Nicklaus Redesign of the Don Veller Golf Course t The Seminole Legacy Golf Club opened in the spring of 2020 after experiencing a comprehensive renovation. It is the first Nicklaus Legacy golf course in America.
Dick Howser Stadium Renovations t Investments to improve the infrastructure and fan experience at Howser Stadium including team weight room, new team building and permanent grandstands in left field. 15
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$60,000,000
$37,500,000
$6,800,000
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$8,000,000
$5,400,000
$2,300,000
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$6,000,000
$1,600,000
$934,000
Phase II of the Donald L. Tucker Center Renovations t Continuation of renovations at the Tucker
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$4,000,000
$1,400,000
$375,000
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$1,500,000
$1,500,000
$970,000
Center including new team lounges for men’s and women’s basketball.
Softball Facility Renovation t The addition of a canopy to shade the stands and bullpens at JoAnne Graf Field was completed for the 2020 season.
Student-Athlete Scholarship Endowments t In support of Student-Athlete scholarships
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$9,000,000
$26,200,000
$2,000,000
and long-term sustainability.
Renaissance Fund t Renaissance Campaign: Added to the campaign in late 2019, the Renaissance Campaign is a focused effort by the entire university to raise commitments to support the transition to Coach Mike Norvell’s football staff.
Unrestricted Facility t Unrestricted commitments allow Seminole Boosters to fund the highest and greatest facility needs of FSU athletics.
50th Anniversary of Women’s Athletics t Commitments in support of priorities for
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$20,000,000
$15,500,000
$3,800,000
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$8,000,000
$2,700,000
$1,800,000
GOAL
GIFTS PLEDGED TO DATE
GIFTS RECEIVED TO DATE
$5,000,000
$11,900,000
$5,000,000
women’s athletics and in honor of 50 years of success for women in FSU athletics. 16
Seminole Football Renaissance Added to the campaign in late 2019, the Renaissance Campaign is a focused effort by the entire university to raise commitments to support the transition to Coach Mike Norvell’s football staff. Letters were mailed to select donors by President John Thrasher to ask for their consideration in being one of 20 donors to commit $1 million. To date, over $15.5 million has been pledged in support of this effort. This will play a key role in funding the changes to the football staff while not negatively impacting the pursuit of comprehensive excellence for our other 19 sports.
The response of our donors to the Renaissance Campaign has been incredible. Our university enjoys many loyal and generous friends, and they certainly have stepped us to help put football back on the right path with Coach Norvell and his staff.
A second phase of the Renaissance Campaign was launched also in 2019 with a focus on increased annual giving. While this is not included in the Unconquered Campaign totals, it will be important part of Seminole Boosters’ ability to meet its financial obligations during the 2019-20 fiscal year.
Pledged
Received
$15,500,000
$3,800,000
-President Thrasher
The following contributors have made significant investments of $50,000 to the Renaissance Campaign as of April 1, 2020: John and Betty Crowe Alan and Carol Flaumenhaft Jim and Carole Henderson William T. Hold Phil Kleinman Lawton and Beth Langford 17
Legacy Toyota - Les Akers & Peter Boulware Craig C. Mateer DeVoe and Shirley Moore Brian and Renee Murphy Tom and Betty Petway
Jim and Betty Ann Rodgers Jim and Carole Smith Guy and Delores Spearman Gary and Cumi Walsingham Brian and Cortney Williams
Executive Staff Andy Miller President and CEO
Paul Phipps Chief Marketing Officer
Derril Beech Vice President of Marketing and Annual Giving
JP Sinclair Chief Financial Officer
Eric Carr Senior Vice President for Central Florida
Kari Terezakis Vice President of Stewardship & Fundraising Advancement
Mike Dasher Senior Vice President of Development
Ben Zierden Senior Vice President of Operations
Greg Hulen Executive Vice President
Executive Committee Bob Davis Orlando, FL | Chairman
Doug Russell Tallahassee, FL | Immediate Past Chair
Jimmy Graganella Tallahassee, FL | Chairman-Elect
Gary Thurston Ocala, FL | 2nd Immediate Past Chair
Alan Flaumenhaft Orlando, FL | Treasurer
Clif Curry Tampa, FL | At-Large Member
Charlie Dudley Tallahassee, FL | Secretary Tom Jennings Tallahassee, FL | Vice President for University Advancement
Parrish Owens Atlanta, GA | At-Large Member
Ed Burr Jacksonville, FL | Chairman of the Board of Trustees
Delores Spearman Rockledge, FL | At-Large Member
David Coburn Tallahassee, FL | Director of Athletics
Bill Stephenson Ponte Vedra Beach, FL | At-Large Member
Board of Directors Sam Ambrose Plantation, FL Diana Azor Pembroke Pines, FL WO Bell Tallahassee, FL Jim Boyd Bradenton, FL Kevin Carpenter Jacksonville, FL Eleanor Connan Tallahassee, FL Marilyn Cox Tallahassee, FL John Crowe Tallahassee, FL Scott Darling La Canada, CA Bill Dawkins Atlanta, GA Mary Demetree Winter Park, FL Craig Dewhurst St. Augustine, FL Doug Dunlap Tallahassee, FL Linda Dupree Panama City Beach, FL Eric Friall Tallahassee, FL
Bill Hagen Tallahassee, FL Anne Hamilton Windermere, FL Rich Heffley Tallahassee, FL Dan Hendrix Atlanta, GA Nan Hillis Tallahassee, FL Nick Iarossi Tallahassee, FL Moises Issa Ft Lauderdale, FL Mike Kosloske Tampa, FL Pete Law Atlanta, GA Brett Lindquist Longwood, FL Scott Madden Atlanta, GA John McCann Tallahassee, FL Richard McMullen Tallahassee, FL Teri Miller Jupiter, FL DeVoe Moore Tallahassee, FL
Brian Murphy Tampa, FL Andy Norman Lakeland, FL Warner Peacock Hardeeville, SC Pamela Perrewe Tallahassee, FL Craig Ramsey Alpharetta, GA Riley Rubio Tallahassee, FL Mark Shelnutt Ocala, FL Jim Steiner Panama City, FL Jeff Stoops Delray Beach, FL Mike Summey Asheville, NC Philip Troyer Thomasville, GA Barry Vaughn Jacksonville, FL Wade Wallace Saint James City, FL Richard Welch Ft Lauderdale, FL Jerry Williams Tallahassee, FL 18
SEMINOLE BOOSTERS, INC. 225 DeVoe L. Moore University Center, Suite C-5100 • Tallahassee, Florida 32306 (850) 644-3484 • Fax: (850) 222-5929 • SeminoleBoosters.com