Seminole Boosters Inc

The information for Seminole Boosters Inc is as of the organization's most recent filing in June '21. This organization is located in Tallahassee, FL. It has been in existence for 46 years, following its founding in 1975.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Seminole Boosters Inc's NTEE code is B11. The "B" indicates that the organization is classified under Education. The "11" signifies that it is a Single Organization Support entity. According to the NTEE classification, Single Organization Support organizations exist as support and fundraising entities for a single institution within the Education major group. Seminole Boosters Inc operates as a 501(c)(3) organization, falling under the Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals category. The organization's mission is to provide financial support for the students and intercollegiate athletic programs at Florida State University.

Program Areas

Program Area 1: The organization's expenditures in this program area include disbursements made to the Florida State University Department of Athletics, disbursements made to Florida State University, and transfers to FSU Financial Assistance. These disbursements cover various needs such as supplementing athletic department salaries, paying student athlete scholarships, supporting other sport needs, fundraising efforts of the university president, individual sports' restricted disbursements, and debt service payments for FSU Financial Assistance.

Program Area 2: Other expenditures include disbursements made for capital projects completed for the Florida State University Department of Athletics as well as facilities maintenance expenses incurred to keep facilities functional during the fiscal year.

Program Area 3: Other program expenditures within the Seminole Boosters include disbursements that further the organization's mission. This includes expenses for various banquets and events, spring tour expenditures, costs to administer the royalty program, additional scholarship expenditures, as well as various other expenditures that promote the education, health, and physical welfare of students at Florida State University.

Organization Staffing

Seminole Boosters Inc has 71 employees, 7 of whom were paid more than $100k according to the organization's most recent 990 tax filing. Supporting the paid staff are 110 volunteers.

Board Governance

Seminole Boosters Inc, a non-profit organization, appears to be well-governed based on the provided information. With 61 voting members, including 57 independent members, the organization demonstrates a diverse and inclusive board structure. This indicates that decisions are likely made with a broad range of perspectives, minimizing the risk of undue influence or conflicts of interest. The fact that potential conflicts of interest do not exist within the organization further strengthens its governance. This suggests that board members are able to act in the best interest of the organization without personal biases or external pressures. The organization's commitment to transparency is evident through its documented board and committee meetings. By maintaining records of these meetings, Seminole Boosters Inc ensures accountability and allows for effective decision-making processes. Additionally, the presence of several key policies further enhances the organization's governance. The existence of a conflict of interest policy, whistleblower policy, and document retention policy demonstrates a commitment to ethical practices and risk management. These policies provide clear guidelines for board members and staff, ensuring that potential conflicts are disclosed, concerns can be raised anonymously, and important documents are properly maintained. Furthermore, the organization's practice of substantiating and reviewing leadership and officer salaries indicates a responsible approach to compensation. By ensuring that these salaries are justified and reasonable, Seminole Boosters Inc demonstrates a commitment to effective resource management. Lastly, the organization's provision of copies of the 990 form to the board prior to filing showcases a dedication to transparency and accountability. This allows board members to review and understand the organization's financial information, ensuring that they can fulfill their fiduciary duties effectively. Overall, Seminole Boosters Inc appears to be well-governed, with robust policies, transparent practices, and a diverse board structure. These factors contribute to a strong foundation for the organization to fulfill its mission effectively and responsibly.

Organization Growth

Seminole Boosters Inc, a nonprofit organization, has experienced both growth and decline over the given time period. Contributions and grants received increased from $28.6M in 2014 to $35.6M in 2020, indicating growth in this area. However, program service revenue decreased from $8.3M in 2014 to $4.1M in 2020, as did investment income from $4.3M to $3.3M and other revenue from $13.2M to $5.4M. This suggests a decline in these sources of revenue. The total revenue also decreased from $54.3M to $48.4M during this period. On the expense side, employee salaries increased from $3.7M to $5.3M, indicating growth in this area. Total expenses also increased from $45.5M to $47.9M. In terms of organization size, the total number of employees increased from 70 to 71, while the total number of volunteers increased from 59 to 110. Overall, while some aspects of Seminole Boosters Inc have grown, such as contributions, employee salaries, and the number of employees and volunteers, other areas have experienced decline, such as program service revenue, investment income, other revenue, and total revenue.