Professional Documents
Culture Documents
Members Present:
Karl Brandes, Lynn Dumais, Joe Garcia, Luis Garcia, Eddie Gomez, Marc Spencer.
Others Present:
Brad Baumgardner, Brenda Browning, Ricky Gallon, Chris Letsos, Debbie McCarthy, Cassandra
Thomas, Jennie Yingling, Glenn Permuy.
Board Chair Marc Spencer called the meeting to order at 12:07 pm.
Consent Items:
Copies of the February 13, 2015 and the February 2015 Financial Report were provided to the members
for their review prior to the meeting. A Motion to approve the Minutes was made by Karl Brandes,
Second by Eddie Gomez. Motion passed.
Luis Garcia reported the Finance Committee had a meeting this week and the numbers continue to be in
line. The audit is still going on. One concern is that the bank statements have not been reconciled for a
long period of time. Brad will be monitoring this to be sure it is done in a timely manner. Eddie Gomez
then made a Motion to approve the February Financial Report, a Second by Lynn Dumais, Motion passed.
Resource Development:
Brenda Browning reported on the Yankees Luncheon and that it should bring in around $250K after all
expenses have been paid and announced that the 2016 Luncheon will be held on Tuesday, March 22nd at
the Tampa Convention Center. Eddie questioned the lower amount raised and was concerned that we
might lose the event because of low sales. Lynn stated that the Yankees lost Jeter, the core four are gone
and they havent won a championship since 2009.
Jennie Yingling presented Joe and Luis the Knock Out Champs award for most revenue raised for GFB.
Jennie reported there will be a golf tournament on May 2nd at the Eagles Country Club with a tee time of
8:00 am and stated they are looking for raffle items. On the Major Gifts side, we are completing wealth
screening and she will be meeting with Terry Balco with BGCA in the next couple of weeks.
Lynn spoke about Barbells & Beer fitness challenge happening this Saturday at 10:00 am. It will consist
of 3 rounds of 5 movements for 1 minute each. Its located by Power House Gym on Channelside.
Tickets are $15 and can be purchased online. Proceeds go to BGC.
Cassandra then reminded everyone of the East Pasco Round Up for the Lacoochee Unit on Thursday the
16th. This is their signature event, that is held outside with live music, live & silent auction. Tickets are
$100. She went on to announce that the West Tampa Reunion Dinner will be held on May 16th and
tickets can be purchased online. We will be honoring Bobby Diez, Earl Garcia, Frank Permuy and
Herman Valdez at the dinner.
We will kick off our Food for Thought in June and also be introducing it to our Advisory Council.
Tuesday May 5th is Give Day Tampa Bay, hosted by The Community Foundation. Cassandra invited
everyone to make a donation to BGC. Staff cannot give.
Board of Directors
From:
Date:
June 8, 2015
Please find attached the Statement of Financial Position and the Statement of
Activity for the Unrestricted Fund for the four months ended April 30, 2015.
The remarks below are made regarding gross operations including all sources of
funding. We are currently slightly ahead of budget by $4,000 in Net
Surplus/(Deficit). Upon review of the financials, there are no significant variances
to report in income or expenses at this time.
Total Public Support and Revenue Ahead of Budget by $6,000
The budget surplus we have in Total Public Support is offset by the budget
shortfall in Program Service Revenue and Special Events. This is due in part ot
a decline in membership revenue as we continue to receive grant funding from
the Department of Juvenile Justice for gang prevention (GPTTO) and
delinquency prevention (SMART) programs. Additionally, we are somewhat
behind in Special Events but this may be a temporary condition due to the timing
of the receipt of corporate sponsorships for the Steak Dinner and other events.
Total Expenses Overage of $2,000
Other than the misclassification of a portion of the professional services budget
as contract services, which is being corrected for the month of May, there are no
other significant amounts to discuss.
Please let me know if you have any questions or comments on the statements.
Page 1
Temporarily
Restricted
Fund
4/30/2015
Unrestricted
Fund
4/30/2015
Total
All
Funds
4/30/2015
Endowment
Fund
4/30/2015
Total
All
Funds
4/30/2014
ASSETS
Current Assets
Cash & Cash Equivalents
Investments
Accounts Receivable
$481,105
$904,026
$40,079
$1,425,210
$2,742,001
$1,000,341
$245,005
$629,256
$1,874,601
$900,099
$286,322
$0
$0
$286,322
$592,649
Other Receivables
$81,451
$0
$0
$81,451
$570
$30,425
$2,734
$0
$33,159
$47,416
$1,165,079
$25,000
$0
$1,190,079
$890,097
$211,404
$0
$0
$211,404
$89,282
$3,256,126
$1,176,765
$669,335
$5,102,226
$5,262,113
$7,529,529
$0
$0
$7,529,529
$7,550,190
$45,000
$0
$0
$45,000
$52,500
$0
$44,985
$0
$44,985
$117,375
$0
$77,384
$0
$77,384
$85,456
Other Assets
$12,828
$0
$0
$12,828
$2,610
$7,587,357
$122,369
$0
$7,709,726
$7,808,132
$10,843,483
$1,299,134
$669,335
$12,811,953
$13,070,245
Accounts Payable
$161,441
$0
$0
$161,441
$169,196
Accrued Expenses
$246,260
$0
$0
$246,260
$164,115
$558,807
$31,579
$0
$590,386
$303,004
$0
$4,000
$0
$4,000
$20,000
$966,508
$35,579
$0
$1,002,087
$656,314
TOTAL ASSETS
Deferred Revenue
Total Current Liabilities
Page 2
Temporarily
Restricted
Fund
4/30/2015
Unrestricted
Fund
4/30/2015
Total
All
Funds
4/30/2015
Endowment
Fund
4/30/2015
Total
All
Funds
4/30/2014
Other Liabilities
Deferred Lease Revenue
Total Other Liabilities
Total Liabilities
$140,000
$0
$0
$140,000
$188,000
$140,000
$0
$0
$140,000
$188,000
$1,106,508
$35,579
$0
$1,142,087
$844,314
Net Assets
Unrestricted - from Operations
$957,150
$0
$0
$957,150
$1,962,929
$8,779,826
$0
$0
$8,779,826
$8,311,070
Temporarily Restricted
$0
$1,263,555
$0
$1,263,555
$1,254,659
Permanently Restricted
$0
$0
$669,335
$669,335
$697,274
$9,736,975
$1,263,555
$669,335
$11,669,866
$12,225,931
$9,736,975
$1,263,555
$669,335
$11,669,866
$12,225,931
$10,843,483
$1,299,134
$669,335
$12,811,953
$13,070,245
Total
Variance
%
Total
2015
Budget
Actual
04/30/14
847,000
1,913,000
325,000
2,156,500
5,241,500
279,629
589,171
33,709
859,248
1,761,757
Variance
Favorable
(Unfavorable)
Variance
%
281,794
650,308
43,409
894,929
1,870,440
282,000
635,000
50,000
875,000
1,842,000
(206)
15,308
(6,591)
19,929
28,440
(0.1%)
2.4%
61,921
50
2,443
64,414
65,000
1,250
7,500
73,750
(3,079)
(1,200)
(5,057)
(9,336)
(4.7%)
(96.0%)
(67.4%)
(25.2%)
279,500
5,000
26,000
310,500
57,548
185
8,711
66,444
4,373
(135)
(6,268)
(2,030)
7.6%
(73.0%)
(72.0%)
(3.1%)
460,275
(83,297)
376,978
475,000
(85,000)
390,000
(14,725)
1,703
(13,022)
(3.1%)
(2.0%)
(3.3%)
750,000
(144,000)
606,000
476,706
(54,965)
421,741
(16,431)
(28,332)
(44,763)
(3.4%)
51.5%
(10.6%)
61,890
2.8%
(195,185)
(4,465)
(15,282)
3,055
(211,877)
(25.9%)
(4.3%)
(26.8%)
27.4%
(22.9%)
2.3%
1.5%
2,165
61,137
9,700
35,681
108,683
0.8%
10.4%
28.8%
4.2%
6.2%
Revenue
Program Service Revenue
Investment Revenue
Other Revenue
Total Revenue
Special Events
Special Event Revenue
Special Event Expenses
Net Special Events
Total Public Support and Revenue
Expenses
Personnel Costs
Salaries
Employee Benefits
Payroll Taxes
Other Employee Costs
Total Personnel Costs
2,311,832
2,305,750
6,082
0.3%
6,158,000
2,249,942
948,119
109,261
72,283
8,100
1,137,763
945,000
107,500
72,000
8,500
1,133,000
(3,119)
(1,761)
(283)
400
(4,763)
(0.3%)
(1.6%)
(0.4%)
4.7%
(0.4%)
2,976,000
320,000
240,000
26,500
3,562,500
752,934
104,796
57,001
11,155
925,886
1 of 2
Variance
%
Total
2015
Budget
Actual
04/30/14
Variance
Favorable
(Unfavorable)
Variance
%
58,093
32,928
146,003
38,292
436,332
24,292
2,931
56,479
34,560
58,996
30,715
919,621
45,000
45,000
140,000
36,500
440,000
21,000
5,000
65,000
35,000
60,000
30,000
922,500
(13,093)
12,072
(6,003)
(1,792)
3,668
(3,292)
2,069
8,521
440
1,004
(715)
2,879
(29.1%)
26.8%
(4.3%)
(4.9%)
0.8%
(15.7%)
41.4%
13.1%
1.3%
1.7%
(2.4%)
0.3%
95,500
137,000
298,000
109,500
1,318,000
62,000
24,500
191,000
70,500
204,500
86,500
2,597,000
35,459
17,883
80,759
38,203
423,963
17,777
8,763
51,175
34,773
54,333
30,736
793,824
(22,634)
(15,045)
(65,244)
(89)
(12,369)
(6,515)
5,832
(5,304)
213
(4,663)
21
(125,797)
(63.8%)
(84.1%)
(80.8%)
(0.2%)
(2.9%)
(36.6%)
66.6%
(10.4%)
0.6%
(8.6%)
0.1%
(15.8%)
2,057,384
2,055,500
(1,884)
(0.1%)
6,159,500
1,719,710
(337,674)
(19.6%)
254,448
250,250
4,198
1.7%
530,232
(275,784)
(52.0%)
2 of 2
(1,500)
3/31/15
Portfolio
Market
Value
12/31/14
% of
Portfolio
Portfolio
Market
Value
12/31/13
% of
Portfolio
Portfolio
Market
Value
12/31/12
% of
Portfolio
Portfolio
Market
Value
% of
Portfolio
EQUITY FUNDS
KEELEY FUNDS
Keeley Small Cap Value Fund
Total Keeley Funds
9.8%
9.8%
409,326
409,326
9.7%
9.7%
621,400
621,400
21
917,670
854,324
21.5%
20.0%
21
887,060
858,231
5% - 30%
615,420
2,387,435
14.4%
55.9%
30% - 80%
2,806,374
5% - 25%
15% - 35%
20% - 60%
5% - 15%
418,939
418,939
15.3%
15.3%
461,574
461,574
13.6%
13.6%
21.1%
20.4%
21
697,335
904,603
17.2%
22.3%
21
519,787
669,007
15.3%
19.7%
607,137
2,352,449
14.4%
55.9%
672,873
2,274,831
16.6%
56.0%
566,427
1,755,242
16.7%
51.6%
65.8%
2,761,775
65.6%
2,896,231
71.3%
2,216,816
65.2%
723,748
737,058
1,460,806
17.0%
17.3%
34.2%
721,243
724,089
1,445,332
17.1%
17.2%
34.4%
574,858
590,065
1,164,923
14.2%
14.5%
28.7%
577,568
604,290
1,181,858
17.0%
17.8%
34.8%
1,460,806
34.2%
1,445,332
34.4%
1,164,923
28.7%
1,181,858
34.8%
CHARLES SCHWAB
Cash
Growth Fund of America - Large Cap Growth
Loomis Sayles Value Fund - Large Cap Value
Manning & Napier World Opportunity Fund International
10% - 30%
10% - 30%
4,267,180 100.0%
INVESTMENT RETURNS
POLICY BENCHMARK
OVER (UNDER) POLICY
Q1
2015
1.43%
2.41%
-0.98%
4,207,107 100.0%
4,061,154 100.0%
3,398,674 100.0%
Trailing
1 Yr
3.64%
7.26%
-3.62%
Trailing
3 Yr
9.55%
10.52%
-0.97%
Inception
12/31/08
10.37%
12.04%
-1.67%
Agency Funds:
Boys & Girls Club of Tampa Bay Foundation, Inc. Agency
The Bill Carey Brandon Boys & Girls Club Agency
Gary Nix Boys & Girls Club Agency
Riverview Boys & Girls Club Agency
Bob Blanchard Lacoochee Boys & Girls Club
TOTAL AGENCY FUNDS
12/31/14
12/31/13
12/31/12
Portfolio
Portfolio
Portfolio
Market
Value
Market
Value
Market
Value
Market
Value
807,668
649,738
105,115
51,086
209,136
$
INVESTMENT RETURNS
POLICY BENCHMARK
OVER (UNDER) POLICY
3/31/15
Portfolio
1,822,743
Q1
2015
1.76%
2.41%
-0.65%
822,013
661,279
105,905
51,470
200,127
$
1,840,794
Trailing
1 Yr
1.47%
7.26%
-5.79%
875,327
704,340
110,455
53,682
195,916
$
1,939,719
Trailing
3 Yr
7.43%
10.52%
-3.09%
806,133
648,663
99,746
48,477
139,015
$
1,742,035
Inception
12/31/09
7.66%
EQUITY SECURITIES
Large Cap
Mid Cap
Small Cap
International Developed
International Emerging
Total Equity Securities
3/31/15
Allocation
Range
Portfolio
Market
Value
12/31/14
% of
Portfolio
Portfolio
Market
Value
% of
Portfolio
12/31/13
Portfolio
Market
Value
% of
Portfolio
12/31/12
Portfolio
Market
Value
% of
Portfolio
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
161,001
23,205
13,696
75,317
25,929
299,148
23.9%
3.4%
2.0%
11.2%
3.8%
44.4%
127,656
22,252
13,621
134,002
59,237
356,767
18.4%
3.2%
2.0%
19.3%
8.5%
51.4%
148,954
16,108
16,617
66,951
61,463
310,093
22.4%
2.4%
2.5%
10.1%
9.2%
46.6%
0.0%
0.0%
0.0%
254,530
25,184
279,714
37.8%
3.7%
41.5%
219,342
26,714
246,056
31.6%
3.8%
35.5%
237,681
12,668
250,349
35.7%
1.9%
37.7%
REAL ESTATE
Real Estate Funds
Total Real Estate
0.0%
0.0%
24,454
24,454
3.6%
3.6%
26,306
26,306
3.8%
3.8%
35,022
35,022
5.3%
5.3%
COMMODITIES
Commodities
Total Commodities
0.0%
0.0%
24,898
24,898
3.7%
3.7%
34,235
34,235
4.9%
4.9%
51,155
51,155
7.7%
7.7%
45,298
45,298
6.7%
6.7%
30,584
30,584
4.4%
4.4%
18,272
18,272
2.7%
2.7%
10% - 30%
5% - 15%
5% - 30%
20% - 80%
20% - 60%
5,000 100.0%
5,000 100.0%
5,000 100.0%
INVESTMENT RETURNS
POLICY BENCHMARK
OVER (UNDER) POLICY
673,510 100.0%
693,948 100.0%
664,891 100.0%
Q1
2015
Trailing
1 Yr
Trailing
3 Yr
Inception
12/31/08
0.00%
0.00%
0.00%
0.00%
3/31/15
Allocation
Range
Portfolio
Market
Value
% of
Portfolio
663,908 100.0%
663,908 100.0%
663,908 100.0%
Q1
2015
INVESTMENT RETURNS
POLICY BENCHMARK
OVER (UNDER) POLICY
Trailing
1 Yr
Trailing
3 Yr
Inception
2/28/15
-0.08%
-0.89%
0.81%