EXECUTIVE COMMITTEE MEETING

AUGUST 11, 2016

FREDDIE SOLOMON BOYS & GIRLS CLUB
AGENDA

1. Welcome Members & Guests ....Chris Roederer

2. Consent Items (No discussion is planned unless requested)
a. June 9, 2016 Meeting Minutes (Attachment 1)
b. June 2016 Financial Report (Attachment 2)
3. Greco Middle School .....Bianca Hernandez
4. Heritage Club ...Scott Jacobsen
5. Board Development .Chris Roederer
a. Tino Martinez, Boys & Girls Clubs of Tampa Bay Foundation
6. Reports
a. 35th Annual Steak & Burger Dinner ..Chris Letsos
b. Taste of Kentucky .... Chris Roederer
c. Great Futures Breakfast ......Chad Chronister
7. Board Advance November 10, 2016 .....Chris Roederer
8. Presidents Report
a. Florida Area Council Tony DiBenedetto
b. Dick and Raymetta Stowers Endowment
c. Zonta Boys & Girls Club
11. Executive Session
12. Adjourn

BOYS & GIRLS CLUBS OF TAMPA BAY

EXECUTIVE COMMITTEE MEETING MINUTES
STEINBRENNER METRO OFFICE
June 9, 2016
Members Present:
Karl Brandes, Lynn Dumais, Luis Garcia, Holly Grogan, Keith Harris, Greg Hearing, Scott Jacobsen,
Lori Liburdi, Jeff Ortmeier, Chris Roederer, Jerome Ryans, Marc Spencer and Corporate Board member
Phil Malcolm.
Others Present:
Chris Letsos, Deborah McCarthy, Brenda Browning, Ricky Gallon, Cassandra Thomas, Jennie Yingling,
Glenn Permuy, Tai Ishia Robinson and guests Rick Reeder and Lorie with Reeder & Associates and
Randy Goers the Urban Planning Coordinator with the City of Tampa.
Board Chair, Chris Roederer called the meeting to order at 12:05 pm, thanked and welcomed our guests.
Consent Items:
Copies of the April 14th Minutes and the April 2016 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
and Financial Report was made by Scott Jacobsen, Second by Luis Garcia. Motion passed.
West Tampa River Front Project:
Chris L. introduced Randy to the members. Randy provided a map and 3 pages of information
regarding the changes taking place in the West Tampa area along the riverfront area. The City of Tampa
and the Housing Authority are working together to revise this area. The proposed redevelopment plan
will have a total of 2,562 units. The population for North Boulevard homes and Mary Bethune Towers
has dropped from 1,757 in 2013 to 1,482 currently. By 2017 they expect the population to drop to 765
but will start to rise and by 2027, estimated at 6,772. Randy also discussed the age composition with a
higher percentage of 20-29 year olds and potential reduction in the percentage of children under 14.
They plan to start reconstruction around 2018 with 300 senior units and 500 multi-family units. The
plan is the current West Tampa BGC will become a Senior Center and our club will need to be
relocated.
Randy spoke about Lane Park area, 23 acres. There will be a walking path, boat house, community
house, a very big opened space area. There will be a cut out by the river, will create a floating breaker
for paddle boarders. Construction to starts this summer and should open in early 2018. Chris L. noted
that this is the area that our current West Tampa club is located.
Jerome stated that the redevelopment is going extremely well and thinks 10 to 20% of those relocated
will come back and thinks there will be a waiting list.
Randy pointed out the MLK Center that have 6200 square feet plus the gym (#4 on map), their hope is
to bring the facilities together and build a new pool.

Executive Committee Meeting

April 14, 2016
Page Two
Auditors Report:
Rick Reeder provided several handouts to the members. We have an unmodified opinion on the
financials, which is a good thing. The report is both financial and compliance. New this year we had to
comply with the Federal single audit act.
Rick reviewed, line by line, the Financial Statement Radios for BFC benchmark (copies available upon
request) and stated we had good financial accountability. A few pointed he covered with Alliance
Standards for Charity Accountability:
1. Benchmark on Program Expenses is > 65%, ours is at 85%
2. Benchmark for Total Fund Raising Expenses is < 35%, ours is at 15%
3. Benchmark for Unrestricted Net Assets is < 3, our is 0.22
4. Benchmark for Administration Expenses if < 15%, ours is 8% (a good number, not too low, but
could go higher).
We should have at least 3 months of Cash Reserves expenses and were at over 4 months, meeting that
Benchmark. Administration Expenses Benchmark is less than 25%, were at 17%.
There is not a separate management letter. Luis asked if the auditors could stay for the Executive
Session. There was discussion and the auditors will stay for that session.
Presidents Report:
Chris reported on the Vinik project and will be meeting with the builders and/or the Viniks. We should
have the majority of the work done by October 28th. We did have one road block via the Fire Marshall,
stating we need to add sprinklers, that would cost us an additional $100K. Lynn asked about the cash
flow and Chris reported we have $2.5M.
Chris reported that the President of BGCA, Jim Clark, will be at our strategic meeting and we will be
holding a special meet and greet with him for our special donors.
Lynn announced that she will be moving to Charlotte, NC for a new position with MetLife as Chief
Accounting Officer. She has served on the board for almost 15 years. Luis stated this is a huge loss and
will be deeply missed. Chris L. presented her with a book of jokes.
With no other business, Chris R. dismissed the staff and an Executive Session was held.

Brenda Browning, Recorder

_____________________________ ____________
Secretary
Date

Boys & Girls Clubs of Tampa Bay, Inc.

Memo
To:

Board of Directors

From:

Deborah L. McCarthy, Chief Financial Officer

Date:

August 4, 2016

Subject: June 2016 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, 2016.
The financial statements presented represent gross operations including all
sources of funding. As of June 30th, we are ahead of budget by $239,000 with a
Net Surplus of $151,000. See below for a discussion of material variances.
Total Public Support Ahead of Budget by $62,000
Contributions are ahead of budget by $62,000 at the half way mark of the year
despite the decrease in the semiannual distribution from our endowment funds at
the CFTB this year. The distribution will be approximately $40,000 less than
anticipated this year. There are no significant variances to discuss at this time.
Total Revenue Ahead of Budget by $30,000
This is due primarily to approximately $20,000 in registration fees received from
other BGCs throughout Florida for the State Youth of the Year Conference
hosted by BGCTB this Spring.
Personnel Costs Surplus of $266,000
The surplus is due to a combination of decisions to reduce costs by the CEO by
reorganizing staff and eliminating certain Area Director positions as well as
vacancies in club staff positions in the quarter of the year that were filled in the
second quarter. As well certain grants were not initiated as early as anticipated
and therefore staff were not in place as budgeted creating a savings there as
well.
Occupancy Expense Overage of $34,000
A significant cause of the overage in Occupancy Expense is the increase in the
premiums for property insurance and liability insurance we saw during the
renewal in March. Over the last 4 or 5 renewals, our broker has kept our costs
steady without significant increases however, due to an increase in claims over
the last two years, we could not escape the increase in costs even as we went to
market.

Memo to Board of Directors

Page 2 of 2

Program Services Overage of $81,000

The overage is due to an increase in college scholarships from donor restricted
funds as we well as the costs of hosting the State Youth of the Year Conference
in the Spring and an increase in enrichment programs provided this summer to
youth as part of various initiative grants in the South County area as well as at
our Middle Schools. .
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

Unrestricted
Fund
6/30/2016

Temporarily
Restricted
Fund
6/30/2016

Total
All
Funds
6/30/2016

Endowment
Fund
6/30/2016

Total
All
Funds
6/30/2015

ASSETS
Current Assets

Cash & Cash Equivalents

$588,119

Investments

$753,469

Accounts Receivable
Other Receivables

$3,017,067

$6,073

$3,611,258

$1,495,128

$612,944

$1,366,413

$1,619,304

$144,467

$144,467

$478,093

$136,029

$136,029

$29,743

$20,462

$20,462

$22,527

Due from BGCTB Foundation

$356,133

$356,133

$1,053,556

Prepaid Expenses

$132,008

$132,008

$86,937

$5,766,770

$4,785,289

$7,672,237

$7,672,237

$7,715,506

$37,500

$37,500

$45,000

$32,300

$32,300

$44,985

$83,204

$83,204

$79,997

$14,494

$12,622

Pledges Receivable, net

Total Current Assets

$2,130,687

$3,017,067

$619,017

Non Current Assets

Land, Building and Equipment

Prepaid Rent
Pledges Receivable, net
CSV of Life Insurance
Other Assets
Total Non Current Assets
TOTAL ASSETS

$14,494
$7,724,231

$115,504

$0

$7,839,735

$7,898,111

$9,854,918

$3,132,571

$619,017

$13,606,505

$12,683,400

LIABILITIES AND NET ASSETS

Liabilities
Current Liabilities

Accounts Payable

$199,299

$199,299

$289,366

Accrued Expenses

$312,582

$312,582

$178,243

$5,019

$611,036

$4,500

$4,000

$521,399

$1,082,645

Due to BGCTB Foundation

Deferred Revenue
Total Current Liabilities

$5,019
$500

$4,000

$517,399

$4,000

$0

Boys & Girls Clubs of Tampa Bay, Inc.

Statement of Financial Position

Page 2

With Comparative Totals to Last Year - Unaudited

Temporarily
Restricted
Fund
6/30/2016

Unrestricted
Fund
6/30/2016

Total
All
Funds
6/30/2016

Endowment
Fund
6/30/2016

Total
All
Funds
6/30/2015

Other Liabilities

Deferred Lease Revenue

Total Other Liabilities
Total Liabilities

$132,000
$0

$0

$0

$0

$132,000

$517,399

$4,000

$0

$521,399

$1,214,645

Net Assets

Unrestricted - from Operations

$1,655,784

$1,655,784

$2,305,442

Unrestricted - Property and Equipment

$7,681,734

$7,681,734

$7,415,622

Temporarily Restricted

$3,128,571

Permanently Restricted
Total
Total Net Assets
TOTAL LIABILITIES AND NET ASSETS

$3,128,571

$1,098,793

$619,017

$619,017

$648,898

$9,337,519

$3,128,571

$619,017

$13,085,106

$11,468,756

$9,337,519

$3,128,571

$619,017

$13,085,106

$11,468,756

$9,854,918

$3,132,571

$619,017

$13,606,505

$12,683,400

Boys & Girls Clubs of Tampa Bay, Inc.

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

Public Support and Revenue

Public Support
United Way & Combined Campaigns
Contributions
Funds Released from Restriction
Fees & Grants
Total Public Support

Actual
1/1/16
to
6/30/16

Year To Date This Year

Budget
1/1/16
Variance
to
Favorable
6/30/16
(Unfavorable)

434,561
964,520
197,701
1,324,587
2,921,369

425,000
950,000
177,500
1,306,500
2,859,000

156,255
3,367
20,646
180,268

590,317
(127,659)
462,658

Variance
%

Total
2016
Budget

Year To Date Last Year

Actual
1/1/15
Variance
to
Favorable
Variance
6/30/15
(Unfavorable)
%

850,000
2,283,000
295,000
2,613,000
6,041,000

422,060
882,779
68,737
1,629,885
3,003,461

12,501
81,741
128,964
(305,298)
(82,092)

3.0%
9.3%
187.6%
(18.7%)
(2.7%)

9,561
14,520
20,201
18,087
62,369

2.2%
1.5%
11.4%
1.4%
2.2%

136,250
4,000
10,500
150,750

20,005
(633)
10,146
29,518

14.7%
(15.8%)
96.6%
(25.2%)

272,500
8,000
21,000
301,500

130,260
5,619
5,432
141,311

25,995
(2,252)
15,214
38,957

20.0%
(40.1%)
280.1%
27.6%

585,000
(125,000)
460,000

5,317
(2,659)
2,658

0.9%
2.1%
0.6%

856,000
(206,000)
650,000

527,935
(110,430)
417,505

62,382
(17,229)
45,153

11.8%
15.6%
10.8%

2.7%

2,018

0.1%

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

3,564,295

3,469,750

94,545

1,473,633
174,727
107,369
25,239
1,780,968

1,721,000
180,000
135,000
10,500
2,046,500

247,367
5,273
27,631
(14,739)
265,532

1 of 2

14.4%
2.9%
20.5%
(140.4%)
13.0%

6,992,500

3,562,277

3,517,000
359,000
274,000
35,000
4,185,000

1,612,784
165,857
122,205
21,055
1,921,901

139,151
(8,870)
14,836
(4,184)
140,933

8.6%
(5.3%)
12.1%
(19.9%)
7.3%

Boys & Girls Clubs of Tampa Bay, Inc.

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

Operating Costs
Professional Fees
Contract Services
Supplies
Information Technolgy
Occupancy Expense
Equipment Expense
Printing & Postage
Transportation Expense
Training, Travel & Meetings
Program Services
Other Expenses
Total Operating Costs
Total Expenses
NET SURPLUS/(DEFICIT)

Actual
1/1/16
to
6/30/16

Year To Date This Year

Budget
1/1/16
Variance
to
Favorable
6/30/16
(Unfavorable)

73,749
15,423
334,107
49,456
733,628
38,402
6,963
93,656
51,532
204,489
31,272
1,632,677

59,000
38,000
324,000
54,500
700,000
37,500
8,500
77,000
37,000
123,000
53,000
1,511,500

(14,749)
22,577
(10,107)
5,044
(33,628)
(902)
1,537
(16,656)
(14,532)
(81,489)
21,728
(121,177)

3,413,645

3,558,000

144,355

150,650

(88,250)

238,900

2 of 2

Total
2016
Budget

Year To Date Last Year

Actual
1/1/15
Variance
to
Favorable
Variance
6/30/15
(Unfavorable)
%

(25.0%)
59.4%
(3.1%)
9.3%
(4.8%)
(2.4%)
18.1%
(21.6%)
(39.3%)
(66.3%)
41.0%
(8.0%)

117,500
76,000
648,500
109,000
1,401,500
75,000
17,000
154,000
73,500
245,500
105,500
3,023,000

75,046
47,783
260,521
61,238
683,475
35,274
9,090
90,028
56,130
130,955
43,864
1,493,404

4.1%

7,208,000

3,415,305

1,660

0.0%

146,972

3,678

2.5%

Variance
%

(270.7%)

(215,500)

1,297
32,360
(73,586)
11,782
(50,153)
(3,128)
2,127
(3,628)
4,598
(73,534)
12,592
(139,273)

1.7%
67.7%
(28.2%)
19.2%
(7.3%)
(8.9%)
23.4%
(4.0%)
8.2%
(56.2%)
28.7%
(9.3%)