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EXECUTIVE COMMITTEE MEETING

June 11, 2015


Steinbrenner Metro Service Center
1307 North MacDill Avenue
AGENDA

1. Welcome Members...........Marc Spencer


Guests: Pam Reeder, CPA Reeder & Assoc. Rick Reeder, CPA Reeder & Assoc.
Elizabeth Frazier, Lightning Foundation (Check presentation)
Leonard Levy
2. Consent Items (No discussion is planned unless requested)
a. April 9, 2015 Meeting Minutes (Attachment 1)
b. April 2015 Financials (Attachment 2)
3. 2014 Audit.....................................................................................................................Dan Hevia
4. Investment Committee....Larry Bevis
5. Reports:
a. Community Relations......................Ricky Gallon
b. Development:
Major Gifts...................................................................................Jennie Yingling
Great Future Breakfast
Steak Dinner- Sept. 29th.........................................................Cassandra Thomas
c. Operations/Grants/Key Initiatives........................Chris Letsos
Youth Impact Strategy
6. Presidents Report...Brad Baumgardner
a. Strategic Planning Oct. 23 | 11:30-3pm
b. Riverview
c. Foundation Board Member- Dr. Kevin L. Scott
7. Succession Planning...............................................................................................Marc Spencer
8. Executive Session (12:50pm)
LLaneza Trust...............................................................................................Karen Lewis
Trenam Kemker
9. Adjorn
Notes:
______________________________________________________________________________
______________________________________________________________________________

BOYS & GIRLS CLUBS OF TAMPA BAY


EXECUTIVE COMMITTEE MEETING MINUTES
STEINBRENNER METRO OFFICE
April 9, 2015

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.

Executive Committee Meeting


April 9, 2015
Page Two
The Ross Stores Campaign, a National Partner, has brought in $1,873,407 nationally but were not sure of
the local amount we will be receiving. Cassandra stated they want to do more locally with us. The
Annual Dinner was held on March 26th with Brian Best honored as Rookie of the Year and Lorie Liburdi
our MVP of the Year. This years Steak Dinner will be held of September 29 th at A la Carte but we will
need to find a new location next year.
Operations and Grants:
Chris Letsos provided a copy of the Dashboard and reviewed the club numbers. Our staff are doing a
great job. He is finalizing an Advisory Council meeting to be held on Saturday, May 9th and will be
bringing in a local consultant to work with them. Five members from each council will be attending.
Lacoochee will hold an opened house in late May, after the Round Up.
Regarding grants, were expecting $150K from United Way, Cigna and TD Bank. Bank of America also
gave $30K for our YES Academy. Weve have been identified for Best Practice of the 21st Century
Grant. USF plans to have teachers to intern at our clubs and we score them. They will be a key program
partner.
Community Relations:
Ricky Gallon spoke about the Crime in the Black Community meeting that will be held in Tampa. A
slideshow was shown on various events going on.
Kiwanis Reading Room was completed at North Tampa;
West Tampa/21st Century held an event where the kids created their own island;
Bucs Triple Play Program was held with the Buccaneers and Coca-Cola;
We held our 10th Annual Busch Gardens Leadership Program;
We have a new basketball court at our Solomon Club due to Dream Count;
Florida Blue held an Easter egg hunt in their offices for 40 of our kids from our Town n
Country Club;
Lowes did a beautification day at our North Tampa Club;
NCAA Youth Clinic was held and parents were also invited to attend.
Presidents Report:
Brad Baumgardner spoke about our Strategic Plan and how accountability is built into the plan so well
be able to achieve what we have planned. USF & Feeding American are discussing how effective the
back pack program was. There will be a study on the effectiveness of this program.
Riverview is waiting on the final permit from the parish council. They are worried about the increase in
insurance since the church is struggling. If need be, we will pay the insurance to get the project
completed.
Chris and Brad spoke about our partnership with TriBridge, who was selected as our partner of the year.
They want to go to the grassroots with BGC and start payroll deductions for certain BGC. They tried to
work through BGCA but that wasnt working out so were working hand in hand with them.

Executive Committee Meeting


April 9, 2015
Page Three
Because of our national partnership with Sherwin Williams, they will be painting our Belmont Heights
Club. Brad stated we are finishing up the IDPs for staff so additional staff members will be attending
future board members.
Joe Garcia announced that this year is the 25th Anniversary of the Community Foundation and thinks they
will focus on BGC.
Lynn reminded everyone of the Florida Area Council meeting beginning August 20 th in West Palm
Beach. They will condense this year and have sessions on Thursday and Friday, with Saturday for golf.
She said it will be a good time for all.
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:

Board of Directors

From:

Deborah L. McCarthy, Chief Financial Officer

Date:

June 8, 2015

Subject: April 2015 Financial Statements - Unaudited

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.

Boys & Girls Clubs of Tampa Bay, Inc.


Statement of Financial Position

Page 1

With Comparative Totals to Last Year - Unaudited

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

Pledges Receivable - Current, net of allowance

$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

Due from BGCTB Foundation


Prepaid Expenses
Total Current Assets

Non Current Assets


Land, Property and Equipment
Prepaid Rent - Non Current

$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

$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

Due to BGCTB Foundation

$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 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
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

Unrestricted - Property and Equipment

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
Budget
1/1/2015
1/1/2015
Variance
to
to
Favorable
04/30/15
04/30/15
(Unfavorable)
Public Support and Revenue
Public Support
United Way & Combined Campaigns
Contributions
Funds Released from Restriction
Fees & Grants
Total Public Support

Year To Date Last Year

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

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
Budget
1/1/2015
1/1/2015
Variance
to
to
Favorable
04/30/15
04/30/15
(Unfavorable)
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)

Year To Date Last Year

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)

BOYS & GIRLS CLUBS OF TAMPA BAY FOUNDATION, INC.


MANAGED INVESTMENT PORTFOLIO SUMMARY
COMPARATIVE
Allocation
Range

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%

Total Charles Schwab Funds


TOTAL EQUITY FUNDS
FIXED INCOME FUNDS
SANFORD C. BERNSTEIN & CO., LLC
Short Duration Plus
Intermediate Duration
Total Sanford C. Bernstein & Co., LLC
TOTAL FIXED INCOME FUNDS
TOTAL INVESTMENTS

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%

BOYS & GIRLS CLUBS OF TAMPA BAY FOUNDATION, INC.


COMMUNITY FOUNDATION OF TAMPA BAY FUNDS
COMPARATIVE
SYMBOL

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%

BOYS & GIRLS CLUBS OF TAMPA BAY, INC.


ENDOWMENT FUND AT NORTHERN TRUST
COMPARATIVE

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%

FIXED INCOME SECURITIES


Corporate / Government
Other Bonds
Total Fixed Income Securities

20% - 60%

CASH & SHORT TERM INVESTMENTS


Cash Short Term Investments
Total Cash and Short Term Investments 0% - 20%

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%

BOYS & GIRLS CLUBS OF TAMPA BAY, INC.


ENDOWMENT FUND AT BANK OF TAMPA
COMPARATIVE

3/31/15
Allocation
Range

CASH & EQUIVALENTS


Money Markets
Total Cash and Short Term Investments 0% - 20%

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%

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