Florida Citrus Sports Events Inc
- Assets
- $25.2m
- Revenue
- $17.2m
- Investments
- $0.0
- Employees
- 109
- Location
- Orlando, FL
- Founding
- 08/2015
- Data as of
- 03/2023
- EIN
- 59-3021238
Organization Overview
Florida Citrus Sports Events Inc is located in Orlando, FL. The organization was established in 2015. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 03/2023, Florida Citrus Sports Events Inc employed 109 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Citrus Sports Events Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Florida Citrus Sports Events Inc generated $17.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $16.1m during the year ending 03/2023. While expenses have increased by 13.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Florida Citrus Sports Events Inc has awarded 23 individual grants totaling $2,098,711. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FLORIDA CITRUS SPORTS EVENTS IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO INCREASING COMMUNITY SPIRIT AND PRIDE, PROMOTING TOURISM, STIMULATING ECONOMIC DEVELOPMENT AND ULTIMATELY BENEFITING CHARITIES, EDUCATIONAL INSTITUTIONS AND THE QUALITY OF LIFE IN CENTRAL FLORIDA BY MANAGING FOUR SIGNIFICANT EVENTS: THE CITRUS BOWL, THE CHEEZ-IT BOWL, THE CAMPING WORLD KICKOFF GAME, AND POP WARNER CHEER AND FOOTBALL CHAMPIONSHIPS. SINCE ITS FIRST BOWL GAME IN 1947, IT IS ESTIMATED THAT FLORIDA CITRUS SPORTS EVENTS HAS HELPED THOUSANDS OF AT-RISK YOUTH IN CENTRAL FLORIDA THROUGH THE FLORIDA CITRUS SPORTS FOUNDATION MVP PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLORIDA CITRUS SPORTS EVENTS (FCSE) PROVIDES THE MANAGEMENT AND ADMINISTRATIVE SUPPORT FOR THE ANNUAL CHEEZIT BOWL AND CHEEZ IT CITRUS BOWL GAMES, WHICH ARE HOSTED BY THE RELATED TAX-EXEMPT ORGANIZATIONS TANGERINE SPORTS ASSOCIATION, INC. AND FLORIDA CITRUS SPORTS ASSOCIATION, INC., AND THE FLORIDA CLASSIC (HBCU COLLEGE FOOTBALL GAME). THESE EVENTS PROVIDE NATIONAL EXPOSURE TO THE CENTRAL FLORIDA COMMUNITY, WHILE GENERATING OVER $100 MILLION OF ECONOMIC IMPACT FOR THE REGION. FROM THE REVENUES GENERATED BY THE TWO BOWL GAMES, THE 4 UNIVERSITIES PARTICIPATING RECEIVED A PAYOUT IN 2022 TOTALING $15.15 MILLION. FCSE ANNUALLY MANAGES THE FLORIDA CLASSIC FOR BOTH FLORIDA A&M AND BETHUNE-COOKMAN UNIVERSITY. IN 2022 THE EVENT MANAGED TO PRODUCE $2.44M OF TOTAL REVENUE FOR THE SCHOOLS TO SHARE DUE TO PARTNER SUPPORT AS WELL AS FUNDRAISING EFFORTS. FCSE IS A MEMBERSHIP BASED ORGANIZATION WHOSE MEMBERS VOLUNTEER THEIR TIME TO THE ORGANIZATION AND THUS THE CENTRAL FLORIDA REGION YEAR-ROUND. 200 MEMBERS VOLUNTEERED TO SERVE AS EVENT DAY STAFF, BOWL SCOUTS, COMMITTEE MEMBERS AND/OR DONATED THEIR TIME TO THE FLORIDA CITRUS SPORTS FOUNDATION.
IN ADDITION TO THE SIGNIFICANT MANPOWER PROVIDED BY ITS MEMBERS, FCSE SUPPORTS THE INITIATIVES OF FLORIDA CITRUS SPORTS FOUNDATION, INC. (FCSF), A RELATED TAX-EXEMPT ORGANIZATION, THROUGH AN ANNUAL CASH CONTRIBUTION AND PERIODIC MONETARY SUPPORT OF EVENTS THROUGHOUT THE YEAR. THE INITIATIVES OF FCSF INCLUDE: DAY FOR KIDS - ECONOMICALLY DISADVANTAGED CHILDREN SHARE AN AFTERNOON OF FOOD AND FUN WITH THE PLAYERS PARTICIPATING IN THE CHEEZ-IT BOWL AND CITRUS BOWL. DREAM TICKET CLEARINGHOUSE - FREE TICKETS TO THE FLORIDA CLASSIC, CHEEZ-IT BOWL, CITRUS BOWL AND FEAST ON THE 50 PROVIDED TO LOCAL YOUTHS FROM NUMEROUS ORGANIZATIONS. JACQUELINE BRADLEY & CLARENCE OTIS BOYS & GIRLS CLUB - FREE YEAR-ROUND MEMBERSHIP AND EIGHT WEEK SUMMER CAMP PROVIDED TO MORE THAN 30 NEIGHBORHOOD FAMILIES IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Mears III Chairman | OfficerTrustee | 0.1 | $0 |
Ed Dougherty President | OfficerTrustee | 0.1 | $0 |
Steve Castino President Elect | OfficerTrustee | 0.1 | $0 |
Tony Jenkins Secretary | OfficerTrustee | 0.1 | $0 |
Sharon Line Clary Treasurer | OfficerTrustee | 0.1 | $0 |
Brian Comes Vice President | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mears Transportation Group Transportation Services | 3/30/23 | $1,020,915 |
American Av Audio Visual Services | 3/30/23 | $511,043 |
Outdoor America Images Signage Services | 3/30/23 | $285,348 |
Lowndes Drosick Doster Kantor & Reed Legal Services | 3/30/23 | $119,229 |
David Saphirstein Production Services & Consulting | 3/30/23 | $104,811 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $800,479 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $806,979 |
| Total Program Service Revenue | $16,328,969 |
| Investment income | $81,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$40,524 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,176,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $452,338 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,511,820 |
| Compensation of current officers, directors, key employees. | $347,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,200,743 |
| Pension plan accruals and contributions | $171,429 |
| Other employee benefits | $272,391 |
| Payroll taxes | $296,052 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $114,543 |
| Fees for services: Accounting | $35,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $569,717 |
| Advertising and promotion | $158,283 |
| Office expenses | $799,203 |
| Information technology | $205,423 |
| Royalties | $0 |
| Occupancy | $1,899,372 |
| Travel | $1,248,267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,467 |
| Interest | $8,247 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $941,930 |
| Insurance | $141,346 |
| All other expenses | $925,330 |
| Total functional expenses | $16,126,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,940,006 |
| Savings and temporary cash investments | $995,491 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,680,094 |
| Loans from Officers, Directors, or Controlling Persons | $201,319 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $498,039 |
| Net Land, buildings, and equipment | $3,099,242 |
| Investments—publicly traded securities | $3,226,610 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,553,519 |
| Total assets | $25,194,320 |
| Accounts payable and accrued expenses | $1,269,578 |
| Grants payable | $0 |
| Deferred revenue | $1,237,191 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,074,120 |
| Total liabilities | $18,580,889 |
| Net assets without donor restrictions | $6,613,431 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,194,320 |
Grants Awarded
Over the last fiscal year, Florida Citrus Sports Events Inc has awarded $429,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
POLIS INSTITUTE PURPOSE: MVP FAMILIES PROGRAM | $60,000 |
LIFT ORLANDO PURPOSE: GENERAL SUPPORT | $369,000 |