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Nonprofiteer
← USF MANAGEMENT CORPORATION

Form 990 for tax year 2024

Filed by USF MANAGEMENT CORPORATION.

Totals

Total revenue
$7,688,950
Total expenses
$7,378,676
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,688,950
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,588,780
Total liabilities, end of year
$4,804,205
Net assets or fund balances, end of year
-$215,425
Program services expenses (Part IX)
$6,222,285
Management and general expenses
$1,156,391
Fundraising expenses
$0
Program service expenses (Part III)
$6,222,285

Program services were 84.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: EVENT FEES

    total $6,501,007 · related or exempt $6,501,007

  • 2b · Program service revenue: UNIVERSITY MANAGEMENT

    total $558,818 · related or exempt $558,818

  • 2c · Program service revenue: PARKING REVENUE

    total $459,877 · related or exempt $459,877

  • 2d · Program service revenue: SPONSORSHIPS & COMMISS

    total $169,248 · related or exempt $169,248

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $843,593 · program services $474,241 · management and general $369,352

  • 9 · Other employee benefits

    total $66,000 · program services $40,139 · management and general $25,861

  • 10 · Payroll taxes

    total $148,799 · program services $85,207 · management and general $63,592

  • 11a · Fees: management

    total $350,394 · program services $350,394

  • 11c · Fees: accounting

    total $64,709 · management and general $64,709

  • 11g · Fees: other

    total $3,752,493 · program services $3,493,430 · management and general $259,063

  • 12 · Advertising and promotion

    total $662,897 · program services $662,897

  • 13 · Office expenses

    total $234,171 · management and general $234,171

  • 14 · Information technology

    total $30,525 · management and general $30,525

  • 16 · Occupancy

    total $198,886 · program services $198,886

  • 17 · Travel

    total $256,346 · program services $179,443 · management and general $76,903

  • 19 · Conferences, conventions and meetings

    total $37 · program services $37

  • 22 · Depreciation, depletion and amortization

    total $94,941 · program services $94,941

  • 23 · Insurance

    total $231,073 · program services $226,451 · management and general $4,622

  • 24a · Other expenses: TRANSFERS TO USF

    total $411,200 · program services $411,200

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $18,221 · management and general $18,221

  • 24c · Other expenses: OTHER EXPENSES

    total $9,372 · management and general $9,372

  • 24d · Other expenses: TAXES

    total $4,758 · program services $4,758

  • 24e · All other expenses

    total $261 · program services $261

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,345,419 · end of year $3,031,672

  • 4 · Accounts receivable

    beginning of year $518,732 · end of year $619,761

  • 9 · Prepaid expenses and deferred charges

    beginning of year $48,643 · end of year $64,048

  • 10a · Land, buildings and equipment: cost or other basis

    $3,405,117

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,782,123

  • 10c · Land, buildings and equipment, net

    beginning of year $485,238 · end of year $622,994

  • 15 · Other assets

    beginning of year $30,837 · end of year $250,305

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,122,951 · end of year $483,892

  • 19 · Deferred revenue

    beginning of year $770,270 · end of year $1,337,996

  • 25 · Other liabilities

    beginning of year $2,061,347 · end of year $2,982,317

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$525,699 · end of year -$215,425

Mission and programs · 2024

Mission

OPERATE AND ADMINISTER FOR AND ON BEHALF OF THE UNIVERSITY OF SOUTH FLORIDA THE YUENGLING CENTER AND OTHER ASSETS OWNED, OPERATED, OR UNDER THE CONTROL OF THE UNIVERSITY FOR THE CONDUCT OF UNIVERSITY ACTIVITIES, EVENTS AND ENTERTAINMENT ON BEHALF OF THE UNIVERSITY'S STUDENTS, FACULTY AND STAFF AS WELL AS THE COMMUNITY IN THE WHICH THE UNIVERSITY RESIDES.

Activities or mission (Part I)

THE ORGANIZATION IS ORGANIZED TO OPERATE AND ADMINISTER FOR AND ON BEHALF OF THE UNIVERSITY CERTAIN FACILITIES AND PROPERTY OWNED, OPERATED, OR UNDER THE CONTROL OF THE UNIVERSITY, AND OTHER ASSETS, EVENTS, AND SERVICES TO STUDENTS AS DESIGNATED BY THE UNIVERSITY, FOR THE PURPOSE OF ASSISTING UNIVERSITY IN CARRYING OUT ITS EDUCATIONAL MISSION AS DIRECTED BY THE UNIVERSITY'S PRESIDENT, OR PRESIDENT'S DESIGNEE.THE ORGANIZATION OPERATES A MULTI-PURPOSE FACILITY KNOWN AS THE YUENGLING CENTER ON BEHALF OF THE UNIVERSITY OF SOUTH FLORIDA TO PROVIDE STUDENTS, FACULTY, AND STAFF OF THE UNIVERSITY, AS WELL AS, THE GENERAL PUBLIC AN ARRAY OF CULTURAL, ATHLETIC, ENTERTAINMENT AND OTHER EDUCATIONAL EVENTS AND ACTIVITIES. THE ORGANIZATION OWNS AND OPERATES A CESSNA I SP AIRCRAFT TO CONDUCT OFFICIAL USF BUSINESS PURSUANT TO USF SYSTEM POLICY 0-021.

  • THE ORGANIZATION MANAGES AND OPERATES A MULTI-PURPOSE FACILITY KNOWN AS THE YUENGLING CENTER ARENA ON BEHALF OF THE UNIVERSITY OF SOUTH FLORIDA (UNIVERSITY) TO PROVIDE STUDENTS, FACULTY AND STAFF OF THE UNIVERSITY, AS WELL AS THE GENERAL PUBLIC AN ARRAY OF ACTIVITIES. THE ARENA HOSTED 142 EVENTS IN FISCAL YEAR 2024-2025.

    Expenses $5,769,460 · Revenue $7,300,131

  • THE ORGANIZATION PROVIDES OWNERSHIP AND OPERATIONAL SUPPORT FOR A UNIVERSITY AIRCRAFT EXCLUSIVELY USED TO CONDUCT OFFICIAL UNIVERSITY BUSINESS PURSUANT TO USF SYSTEM POLICY 0-021.

    Expenses $452,825 · Revenue $388,819

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Oscher

    PRESIDENT/CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Harold Astorquiza

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David Goldstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barry Clements

    DIRECTOR

    Total calculated
    $251,964
    From this org
    $0
    From related orgs
    $220,832
    Other
    $31,132
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,357 related
    Bonus
    $0
    Other
    $0 + $7,475 related
    Deferred
    $0 + $11,093 related
    Nontaxable benefits
    $0 + $20,039 related
    Filer's total
    $0 + $251,964 related

  • Mike Lapan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jay Stroman

    DIRECTOR, AS OF 2/2025

    Total calculated
    $825,098
    From this org
    $0
    From related orgs
    $726,351
    Other
    $98,747
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $550,731 related
    Bonus
    $0 + $165,000 related
    Other
    $0 + $10,620 related
    Deferred
    $0 + $76,687 related
    Nontaxable benefits
    $0 + $22,060 related
    Filer's total
    $0 + $825,098 related

  • Jennifer Condon

    DIRECTOR

    Total calculated
    $531,402
    From this org
    $0
    From related orgs
    $489,434
    Other
    $41,968
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $374,414 related
    Bonus
    $0 + $114,000 related
    Other
    $0 + $1,020 related
    Deferred
    $0 + $19,342 related
    Nontaxable benefits
    $0 + $22,626 related
    Filer's total
    $0 + $531,402 related

  • Gina Lombardi

    DIRECTOR, UNTIL 2/2025

    Total calculated
    $114,369
    From this org
    $0
    From related orgs
    $98,419
    Other
    $15,950
    Hours/week
    1 + 40 related

  • Ashley Leko

    DIRECTOR, UNTIL 2/2025

    Total calculated
    $170,770
    From this org
    $0
    From related orgs
    $141,312
    Other
    $29,458
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,312 related
    Bonus
    $0
    Other
    $0 + $6,000 related
    Deferred
    $0 + $9,419 related
    Nontaxable benefits
    $0 + $20,039 related
    Filer's total
    $0 + $170,770 related

  • Michael Kelly

    EXECUTIVE DIRECTOR, UNTIL 6/2025

    Total calculated
    $1,257,311
    From this org
    $0
    From related orgs
    $1,217,236
    Other
    $40,075
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $871,173 related
    Bonus
    $0 + $330,000 related
    Other
    $0 + $16,063 related
    Deferred
    $0 + $17,911 related
    Nontaxable benefits
    $0 + $22,164 related
    Filer's total
    $0 + $1,257,311 related

  • Dawn Rodriguez

    EXECUTIVE DIRECTOR, AS OF 2/2025

    Total calculated
    $184,080
    From this org
    $0
    From related orgs
    $162,164
    Other
    $21,916
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,569 related
    Bonus
    $0
    Other
    $0 + $595 related
    Deferred
    $0 + $10,975 related
    Nontaxable benefits
    $0 + $10,941 related
    Filer's total
    $0 + $184,080 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
USF MANAGEMENT CORPORATION RELIES ON A RELATED ORGANIZATION TO ESTABLISH TOP MANAGEMENT OFFICIAL COMPENSATION. THE RELATED ORGANIZATION, UNIVERSITY OF SOUTH FLORIDA, HAS A COMPENSATION COMMITTEE THAT REVIEWS AND APPROVES THE COMPENSATION OF USF MANAGEMENT CORPORATIONS' EXECUTIVE DIRECTOR. ADDITIONALLY, UNIVERSITY OF SOUTH FLORIDA USES AN INDEPENDENT COMPENSATION CONSULTANT, FORMS 990 OF OTHER ORGANIZATIONS, AND COMPENSATION SURVEYS/STUDIES TO DETERMINE COMPENSATION.
PART I, LINE 4B
THE INDIVIDUALS LISTED BELOW PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. DURING CALENDAR YEAR 2024, CONTRIBUTIONS RELATED TO SUCH PLANS WERE MADE FOR THE FOLLOWING INDIVIDUALS. THESE AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C: JAY STROMAN - $50,000. THERE WERE NO DISTRIBUTIONS OUT OF SUCH PLANS DURING CALENDAR YEAR 2024.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202611349349310746

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