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EXECUTIVE COMMITTEE MEETING

August 13, 2014


AGENDA
1. Welcome Members...........Chris Roederer
Guests: Holly Grogan, CPP Tribridge
Dr. Diane Berry, University of Phoenix
2. Consent Items (No discussion is planned unless requested)
a. June 11, 2015 Meeting Minutes (Attachment 1)
b. June 2015 Financials (Attachment 2)
3. Corporate Resolution ........................................................................................Debbie McCarthy
4. McCain Institute Volunteer.Konstantin Popkov
5. Programs/Grants.........................................................................................................Chris Letsos
6. Board Development...............................................................................................Chris Roederer
Foundation Board Member:
Joe Tomaino, Christo Rey High School of Tampa
7. Reports:
a. Community Relations...............................Ricky Gallon
b. Development:
Steak Dinner | Arcadis Golf Tournament.....................Cassandra Thomas
GFB | Annual Gifts...............................................Jennie Yingling
Bourbon Tasting.........................................................................................Chris Roederer
8. Presidents Report........Brad Baumgardner
a. Ybor- Dream Center Lease
b. Area Council | August 21-22
c. Strategic Planning | Oct. 23
9. Succession Planning Update..................................................................................Chris Roederer
10. Executive Session
11. Adjourn

Notes:
______________________________________________________________________________
______________________________________________________________________________

BOYS & GIRLS CLUBS OF TAMPA BAY


EXECUTIVE COMMITTEE MEETING MINUTES
STEINBRENNER METRO OFFICE
June 11, 2015

Members Present:
Larry Bevis, Karl Brandes, Lynn Dumais, Joe Garcia, Oscar Horton, Scott Jacobsen, Marc Spencer.
Others Present:
Brad Baumgardner, Brenda Browning, Ricky Gallon, Chris Letsos, Debbie McCarthy, Tai Ishia Robinson,
Cassandra Thomas, Jennie Yingling, Glenn Permuy and guests, Dan Hevia, Leonard Levy, Elizabeth Frazier, Pam &
Rick Reed, Karen Lewis (Executive Session).
Board Chair Marc Spencer called the meeting to order at 12:05 pm.
Marc introduced Elizabeth Frazier, with the Lightning Foundation and Leonard Levy, recipient of the Lightning
Community Hero Award. Leonard and his brother, George, donated the award of $50K to Boys & Girls Clubs.
Elizabeth and Leonard presented Marc with a check for the $50K.
Marc then introduced Pam and Rick Reed.
Chris Letsos introduced our Bank of America Student Leaders, Chris Bryant, Gabriella Gonzalez, Cooper Kahn and
Daniel Erickson. They each shared their plans for the future with everyone.
Consent Items:
Copies of the April 9, 2015 and the April 2015 Financial Report were provided to the members for their review
prior to the meeting, with copies provided at the meeting. A Motion to approve the Minutes was made by Oscar
Horton, Second by Lynn Dumais. Motion passed.
Lynn then made a Motion to approve the April Financial Report, Second by Oscar, Motion passed.
2014 Audit:
Dan Hevia asked that the audited Financial Statements, provided by Reeder and Associates (Auditors), be
handed out to the members. He commented that the Audit Committee had reviewed the audited financial
statements and the related audit reports submitted by the Auditors and the Audit Committee recommends
approval. Rick Reeder from Reeder and Associates reviewed the audited financial statements with the
members. He started by indicating that Reeder and Associates was able to perform the audit in accordance with
Generally Accepted Auditing Standards in the USA and the standards applicable to financial audits contained in
Government Auditing Standards and that they were able to issue a clean opinion which states that the financial
statements are presented fairly, in all material respects, in accordance with Generally Accepted Accounting
Principles in the USA. He also indicated that as part of the work that was performed, a Schedule of Expenditures
of Federal Awards and State Projects (SEFA) was prepared and that two additional report on internal controls
were submitted and included as part of the audited financial statements. He directed the members attention to
the first of these two reports (included behind the SEFA) to bring their attention to the fact that while the
Auditors did not identify any deficiencies in internal control that are considered to be material weaknesses, they
did however identify a deficiency in internal control determined to be a significant deficiency. A significant

Executive Committee Meeting


June 11, 2015
Page Two
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material
weakness, yet important enough to merit attention by those charged with governance.
The deficiency is described in the Schedule of Findings and Questioned Costs as item 2014-001. Bank
Reconciliations. Due to the fact that bank statements in some instances were not reconciled in a timely manner
and were accumulated for several months before they were reconciled to the general ledger. This deficiency
has been addressed by the Organization and steps have been taken to insure that bank reconciliations are done
in a timely manner with appropriate review and approval. Additionally, there were no significant deficiencies
disclosed during the audit of the major federal award program or major state project. Lynn asked if there was a
material adjustment in the financials due to the bank reconciliations and Rick stated there were none.
Rick also distributed a bound Performance Analysis Report for the year ended December 31, 2014 and a one
page Financial Statement Ratios report for discussion on how we stack up against other Not For Profits. He
pointed out that we spend 81% of Expenses on Program Expenses which is well above the benchmark of 65% or
more. In the Performance Analysis report, page 3 indicated that our net loss had grown, but this is due to the
expenditure of funds to renovate and repair clubs. The report also indicates that we are leveraging our assets
well. Marc stated fundraising expenses are up. Deborah stated that fund raising expenses are going up due to
our GFB. Its not counted as a special event because we dont charge for the event. We also recorded our inkind contributions in 2014 for the GFB which we had not done in the past. Although we share half of the net
proceeds of the GFB with the Foundation, all the expenses are recorded on our books. Rick again stated that
because of the nature of the event and our roll in GFB with some allocations to the Foundation, we have to
report the gross income and expenses of the event as we currently do.
A Motion to approve the Audit Report was made by Scott Jacobsen, Second by Joe Garcia, Motion passed.
Investment Committee:
Larry Bevis provided the Investment Report for Q1 to the members and spoke about a summary of our 3 buckets
of funds: Foundation, Endowment and Community Foundation. We manage the Foundation funds. Larry
reviewed the report with the members. He indicated that we sold the Manning & Napier Fund and purchased
the Harding Loevner International Fund to replace an underperforming investment. He also indicated that we
recently moved the Endowment funds from Northern Trust to Bank of Tampa. Scott made a Motion to Accept
the Investment Report. Second was made by Oscar Horton. Motion passed.

Investment Committee:
Larry Bevis provided a handout to the members and spoke about a summary of our 3 buckets of funds:
Foundation, Endowment and Community Foundation. We manage the Foundation funds. Larry reviewed the
summary with of the members. We changed the Manning & Napier Fund with and International Fund., to not
taking to much risk. We recently changed from Northern Trust that manages our investments, to Bank of
Tampa. Scott made a Motion to Accept the Investment Report. Second was made by Oscar Horton. Motion
passed.
Community Relations:
Ricky Gallon gave a slideshow with pictures of various events going on.

Executive Committee Meeting


June 11, 2015
Page Three

Deloitte held an Impact Day with Dover & Nick Capitano that impacted 350 kids.
Employees of Coca Cola visited West Tampa and worked on the club
Dress for Success Event was held for our Liberty Club
Photos of Riverview Renovation being worked on
Second Kiwanis Reading Room was completed.

Reports:
Jennie Yingling reported that letters are being sent out on Scott Jacobsens behalf to help on major gifts. For
Pasco County, we are working on marketing material. On August 27th, we will host a Heritage Club reception
from 5:00 pm to 7:00 at Marriott Waterside. No update on a date for GFB.
Cassandra Thomas provided a handout for Steak Dinner and announced that Trudy Carey will be our Community
Hero. The dinner will be held on September 29th at Al la Carte. We are currently at $111K.
Chris Letsos provided a handout to the members and stated we are doing well, estimating serving 3K a day, the
summer enrollment filled up fast. He reported 21st Century is up for renewal, the Childrens Board is out as
managing the funds. Chris was at Tallahassee and spoke to Senator Lee. Earl Lennard stepped in and we might
lose half a million. If any of the members know Senator Lee please reach out to him to help us get funded.
Presidents Report:
Brad Baumgardner spoke about a Foundation Board candidate, Dr. Kevin Scott, recommended by Glenn Permuy
and Fred McClure stated that Chris Letsos had met with him. Bob Basham also knows him. A motion to approve
Dr. Kevin Scott was made by Joe Garcia, Second by Lynn Dumais, Motion passed.
Marc gave an update on the succession planning. June 15th is the cut-off on receiving resumes. The committee
has 8 candidates and will start interviewing in July. The process is moving very quickly.
Brad announced that Jeff Eakins, Superintendent of Hillsborough County Schools will be attending the July 9th
board meeting.
The meeting was adjourned at 1:07 pm, staff left the room and an Executive Session was held.
Brenda Browning, Recorder
_____________________________ ____________
Chris Roederer, Secretary
Date

Boys & Girls Clubs of Tampa Bay, Inc.


Memo
To:

Executive Committee

From:

Deborah L. McCarthy, Chief Financial Officer

Date:

July 28, 2015

Subject: June 2015 Financial Statements - Unaudited

Please find attached the Statement of Financial Position and the Statement of
Activity for the Unrestricted Fund for the six months ended June 30, 2015.
Total Public Support Ahead of Budget by $265,000
Fees & Grants are ahead of budget by $326,000. This is due to several grants
that were not anticipated or known during the budgeting process for this year.
They include the three Community Hero grants from the Lightning Foundation
totally, $104,000, $50,000 from the Community Foundation of Tampa Bay for our
outreach summer camp program at Bethune Park in Wimauma this summer,
$20,000 for the new Community Service Block Grant (CSBG) passed through
Hillsborough County for year round services for youth, and $12,000 for the new
After Zone grant for Plant City Middle Schools from the Childrens Board of
Hillsborough County. And finally, we are $130,000 ahead of budget for the
Prodigy grants from the University Area Community Development Corporation
(UACDC). These additional funds have enabled the organization to serve more
kids more often through the first half of the year and the additional costs of
providing those services is evident in the increase in operating expenses of the
organization over budget for the same period.
The budget surplus in Fees & Grants is offset by the $72,000 that Funds
Released from Restriction is behind budget. These are restricted funds for
programs and operations that are released from restriction as they are used. In
the case of the reserves that were set aside for the Freddie Solomon Club and
the Riverview Club, we are not utilizing these reserves as quickly as we
anticipated in budgeting since the clubs are raising more funds through grants
and contributions than expected to date.
Net Special Events Behind Budget by $73,000
Net Special Events is behind budget due primarily to a decrease in the net
proceeds from the Yankee Luncheon ($33,000) and the East Pasco Round Up
($31,000).

Memo to Executive Committee

Page 2 of 2

Personnel Costs Overage of $124,000


The increase in Personnel Costs over the same period last year and over the
YTD budget is a direct result of the additional staff in place to provide services at
the new additional sites operating in 2015 which include the new Middle School
sites at Marshall, Tomlin and Shields as well as the outreach summer camp
program in Wimauma and the additional staffing costs of for performing and fine
arts instructors for the Prodigy programs which are now offered at four clubs year
round.
Supplies Overage of $107,000
There is a significant increase in Supply Costs over the same period last year
and over the YTD budget. This is due to two factors. The first is an increase in
program supplies which accounts for $45,000 of the budget overage and is due
to the additional program supplies purchased for the new sites discussed above
and for the Prodigy sites. The additional supplies for the Prodigy sites were not
known at the time of the budget preparation as the Prodigy budgets were still
being negotiated with UACDC and the State of Florida Department of Juvenile
Justice (DJJ).
The second area of increase is in the costs of providing snacks and supper at the
clubs. This year after school snacks are now provided at all clubs regardless of
their eligibility for the State of Florida After School Snack reimbursement
program. Additionally, we have initiated new supper programs at selected clubs
this year. An example is the Dover Club which has a new supper program
provided by a private grant for that purpose. Together this accounts for $51,000
of the budget overage.
Program Services Overage of $24,000
This overage over the same period last year and over the YTD budget is due
primarily to the increase in field trips for the Prodigy program. This grant
ultimately included almost $20,000 in funds for field trips for the youth in those
programs. These field trips included outings to museums such as the Glazer
Childrens Museum, and performances such as Blue Man Group and Black
Swans.

Please let me know if you have any questions or comments on the statements.

Boys & Girls Clubs of Tampa Bay, Inc.


Statement of Financial Position

Page 1

With Comparative Totals to Last Year - Unaudited

Temporarily
Restricted
Fund
6/30/2015

Unrestricted
Fund
6/30/2015

Total
All
Funds
6/30/2015

Endowment
Fund
6/30/2015

Total
All
Funds
6/30/2014

ASSETS
Current Assets
Cash & Cash Equivalents
Investments
Accounts Receivable
Other Receivables
Pledges Receivable - Current, net of allowance
Due from BGCTB Foundation

$322,312

$1,143,276

$29,935

$1,495,523

$2,915,647

$1,000,341

$0

$618,964

$1,619,304

$918,897

$533,167

$0

$0

$533,167

$273,157

$41,707

$0

$0

$41,707

$10,174

$19,688

$2,859

$0

$22,547

$40,437

$1,028,556

$25,000

$0

$1,053,556

$903,452

$86,320

$0

$0

$86,320

$93,628

$3,032,092

$1,171,135

$648,898

$4,852,126

$5,155,393

$7,722,004

$0

$0

$7,722,004

$7,620,376

$45,000

$0

$0

$45,000

$52,500

Pledges Receivable - Non-Current, net of allowance

$0

$44,985

$0

$44,985

$117,375

Cash Value Life Insurance

$0

$79,997

$0

$79,997

$76,887

$12,622

$0

$0

$12,622

$2,610

$7,779,625

$124,983

$0

$7,904,608

$7,869,748

$10,811,717

$1,296,118

$648,898

$12,756,734

$13,025,141

Accounts Payable

$323,828

$0

$0

$323,828

$358,611

Accrued Expenses

$173,756

$0

$0

$173,756

$177,477

Due to BGCTB Foundation

$576,807

$31,579

$0

$608,386

$305,698

$0

$4,000

$0

$4,000

$3,000

$1,074,391

$35,579

$0

$1,109,970

$844,786

Prepaid Expenses
Total Current Assets

Non Current Assets


Land, Property and Equipment
Prepaid Rent - Non Current

Other Assets
Total Non Current Assets

TOTAL ASSETS

LIABILITIES AND NET ASSETS


Liabilities
Current Liabilities

Deferred Revenue
Total Current Liabilities

Boys & Girls Clubs of Tampa Bay, Inc.


Statement of Financial Position

Page 2

With Comparative Totals to Last Year - Unaudited

Temporarily
Restricted
Fund
6/30/2015

Unrestricted
Fund
6/30/2015

Total
All
Funds
6/30/2015

Endowment
Fund
6/30/2015

Total
All
Funds
6/30/2014

Other Liabilities
Deferred Lease Revenue

$132,000

$0

$0

$132,000

$180,000

$132,000

$0

$0

$132,000

$180,000

$1,206,391

$35,579

$0

$1,241,970

$1,024,786

Unrestricted - from Operations

$1,148,913

$250

$0

$1,149,163

$1,932,286

Unrestricted - Property and Equipment

Total Other Liabilities

Total Liabilities

Net Assets

$8,456,414

$0

$0

$8,456,414

$8,091,977

Temporarily Restricted

$0

$1,260,289

$0

$1,260,289

$1,269,428

Permanently Restricted

$0

$0

$648,898

$648,898

$706,665

$9,605,327

$1,260,539

$648,898

$11,514,764

$12,000,356

$9,605,327

$1,260,539

$648,898

$11,514,764

$12,000,356

$10,811,717

$1,296,118

$648,898

$12,756,734

$13,025,141

Total

Total Net Assets

TOTAL LIABILITIES AND NET ASSETS

Boys & Girls Clubs of Tampa Bay, Inc.


Statement of Activity - Unrestricted Fund
With Comparison to Budget & Last Year Actual - Unaudited

Year To Date This Year


Actual
1/1/2015
to
6/30/2015

Budget
1/1/2015
to
6/30/2015

Variance
Favorable
(Unfavorable)

Year To Date Last Year

Variance
%

Total
2015
Budget

Actual
1/1/2014
to
6/30/2014

Variance
Favorable
(Unfavorable)

Variance
%

Public Support and Revenue


Public Support
United Way & Combined Campaigns

$422,060

$423,490

Contributions

$886,302

$874,000

$61,316

$133,000

Fees & Grants

$1,610,917

$1,285,000

Total Public Support

$2,980,595

$130,260

Funds Released from Restriction

($1,430)

(0.3)%

$847,000

$425,039

($2,980)

(0.7)%

$12,302

1.4%

$1,913,000

$866,450

$19,852

2.3%

($71,684)

(53.9)%

$325,000

$91,596

($30,280)

(33.1)%

$325,917

25.4%

$2,156,500

$1,116,469

$494,448

44.3%

$2,715,490

$265,105

9.8%

$5,241,500

$2,499,554

$481,040

19.2%

$137,500

($7,240)

(5.3)%

$279,500

$136,646

($6,386)

(4.7)%

Revenue
Program Service Revenue
Investment Revenue

$5,599

$3,000

$2,599

86.6%

$6,000

$1,085

$4,513

415.8%

Other Revenue

$5,432

$12,500

($7,068)

(56.5)%

$25,000

$12,429

($6,998)

(56.3)%

$141,290

$153,000

($11,710)

(7.7)%

$310,500

$150,160

($8,871)

(5.9)%

Special Event Revenue

$527,076

$608,000

($80,924)

(13.3)%

$759,000

$584,118

($57,042)

(9.8)%

Special Event Expenses

($105,646)

($113,750)

$8,104

7.1%

($153,000)

($70,485)

($35,160)

(49.9)%

$421,431

$494,250

($72,819)

(14.7)%

$606,000

$513,633

($92,202)

(18.0)%

$3,543,315

$3,362,740

$180,575

5.4%

$6,158,000

$3,163,347

$379,968

12.0%

$1,612,784

$1,491,800

($120,984)

(8.1)%

$2,976,000

$1,309,441

($303,343)

(23.2)%

Employee Benefits

$161,039

$159,250

($1,789)

(1.1)%

$319,000

$149,544

($11,495)

(7.7)%

Payroll Taxes

$121,737

$122,000

$263

0.2%

$240,000

$99,854

($21,883)

(21.9)%

Total Revenue

Special Events

Net Special Events

Total Public Support and Revenue

Expenses
Personnel Costs
Compensation

Other Employee Costs


Total Personnel Costs

$20,035

$18,500

($1,535)

(8.3)%

$27,500

$15,061

($4,974)

(33.0)%

$1,915,595

$1,791,550

($124,045)

(6.9)%

$3,562,500

$1,573,900

($341,695)

(21.7)%

$72,703

$74,750

$2,047

2.7%

$113,500

$56,448

($16,255)

(28.8)%

Operating Costs
Professional Fees

7/27/2015

Page 1

Boys & Girls Clubs of Tampa Bay, Inc.


Statement of Activity - Unrestricted Fund
With Comparison to Budget & Last Year Actual - Unaudited

Year To Date This Year


Actual
1/1/2015
to
6/30/2015

Contract Services

Variance
Favorable
(Unfavorable)

Year To Date Last Year

Variance
%

Total
2015
Budget

Actual
1/1/2014
to
6/30/2014

Variance
Favorable
(Unfavorable)

Variance
%

$41,591

$52,150

$10,559

20.2%

$137,000

$31,627

($9,964)

(31.5)%

$262,621

$156,100

($106,522)

(68.2)%

$298,000

$148,343

($114,278)

(77.0)%

$58,380

$60,880

$2,500

4.1%

$109,500

$58,920

$540

0.9%

Occupancy Expense

$659,824

$654,320

($5,504)

(0.8)%

$1,306,000

$641,128

($18,695)

(2.9)%

Equipment Expense

$34,789

$31,040

($3,749)

(12.1)%

$62,000

$28,220

($6,569)

(23.3)%

Printing & Postage

$3,337

26.9%

Supplies
Information Technolgy

$9,090

$12,270

$3,180

25.9%

$24,500

$12,427

Transportation Expense

$87,920

$85,400

($2,520)

(3.0)%

$170,000

$82,743

($5,178)

(6.3)%

Training, Travel & Meetings

$52,504

$51,450

($1,054)

(2.0)%

$80,500

$38,978

($13,526)

(34.7)%

$121,147

$97,250

($23,897)

(24.6)%

$204,500

$104,465

($16,681)

(16.0)%

$43,123

$34,750

($8,373)

(24.1)%

$91,500

$35,643

($7,480)

(21.0)%

$1,443,692

$1,310,360

($133,333)

(10.2)%

$2,597,000

$1,238,942

($204,751)

(16.5)%

$3,359,288

$3,101,910

($257,378)

(8.3)%

$6,159,500

$2,812,842

($546,446)

(19.4)%

$184,027

$260,830

($76,803)

(29.4)%

($1,500)

$350,506

($166,478)

(47.5)%

Program Services
Other Expenses
Total Operating Costs

Total Expenses

NET SURPLUS/(DEFICIT)

7/27/2015

Budget
1/1/2015
to
6/30/2015

Page 2