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Nonprofiteer
← FSU FINANCIAL ASSISTANCE INC

Form 990 for tax year 2022

Filed by FSU FINANCIAL ASSISTANCE INC.

Totals

Total revenue
$15,798,080
Total expenses
$15,743,742
Contributions and grants received
$3,777,486
Grants paid
$0
Program service revenue
$11,934,391
Investment income
$46,067
Other revenue
$40,136
Total assets, end of year
$139,628,696
Total liabilities, end of year
$127,826,850
Net assets or fund balances, end of year
$11,801,846
Program services expenses (Part IX)
$14,585,581
Management and general expenses
$1,158,161
Fundraising expenses
$0
Program service expenses (Part III)
$14,585,581

Program services were 92.6% 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.

  • 1d · Related organizations

    $3,773,286

  • 1f · All other contributions, gifts and grants

    $4,200

  • 2a · Program service revenue: SEAT SALES REVENUE

    total $5,874,925 · related or exempt $5,874,925

  • 2b · Program service revenue: SKYBOX REVENUE

    total $4,209,466 · related or exempt $4,209,466

  • 2c · Program service revenue: STADIUM LEASE

    total $1,850,000 · related or exempt $1,850,000

  • 3 · Investment income

    total $46,067 · excluded $46,067

  • 11a · Other revenue: BAD DEBT RECOVERY

    total $40,136 · related or exempt $40,136

  • 11e · Other revenue, total

    $40,136

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $535,714 · program services $358,928 · management and general $176,786

  • 8 · Pension plan contributions

    total $5,118 · program services $3,429 · management and general $1,689

  • 9 · Other employee benefits

    total $27,392 · program services $18,353 · management and general $9,039

  • 10 · Payroll taxes

    total $23,384 · program services $15,667 · management and general $7,717

  • 11g · Fees: other

    total $277,870 · management and general $277,870

  • 13 · Office expenses

    total $263,108 · management and general $263,108

  • 17 · Travel

    total $390 · management and general $390

  • 20 · Interest

    total $4,801,568 · program services $4,801,568

  • 22 · Depreciation, depletion and amortization

    total $5,641,460 · program services $5,641,460

  • 24a · Other expenses: CHAMPIONS CLUB TICKETS

    total $2,277,814 · program services $2,277,814

  • 24b · Other expenses: FOOD AND SUPPLIES

    total $1,227,213 · program services $1,227,213

  • 24c · Other expenses: OPERATING EXPENSES

    total $421,562 · management and general $421,562

  • 24d · Other expenses: BUILDING MAINTENANCE &

    total $237,949 · program services $237,949

  • 24e · All other expenses

    total $3,200 · program services $3,200

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,316,465 · end of year $5,296,184

  • 4 · Accounts receivable

    beginning of year $109,301 · end of year $0

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

    $208,600,554

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

    $84,630,588

  • 10c · Land, buildings and equipment, net

    beginning of year $129,486,888 · end of year $123,969,966

  • 15 · Other assets

    beginning of year $8,887,212 · end of year $10,362,546

  • 19 · Deferred revenue

    beginning of year $7,051,488 · end of year $8,112,413

  • 20 · Tax-exempt bond liabilities

    beginning of year $122,370,000 · end of year $117,215,000

  • 25 · Other liabilities

    beginning of year $2,630,851 · end of year $2,499,437

  • 27 · Net assets without donor restrictions

    beginning of year $11,747,527 · end of year $11,801,846

Mission and programs · 2022

Mission

NO FORMAL MISSION STATEMENT. SEE PART 1 FOR DESCRIPTION.

Activities or mission (Part I)

FSU FINANCIAL ASSISTANCE, INC. IS A DIRECT-SUPPORT ORGANIZATION OF FLORIDA STATE UNIVERSITY CREATED FOR THE PURPOSE OF SECURING BOND FINANCING.

  • EXPENDITURES RELATED TO SERIES 2012, 2013, & 2015 REFUNDING BONDS. PROCEEDS FROM BONDS ARE ALSO USED FOR STADIUM, ATHLETIC FACILITIES, AND OTHER EDUCATIONAL FACILITIES EXPANSION AND IMPROVEMENTS.

    Expenses $4,801,568

  • MANAGE AND RECEIVE REVENUES FROM CONFERENCE SUITES (SKYBOXES), SEAT SALES, AND STADIUM LEASE DURING THE PERIODS OF TIME THEY ARE NOT NEEDED FOR UNIVERSITY EDUCATIONAL PURPOSES.

    Expenses $9,784,013 · Revenue $11,974,527

As filed on the 2022 return.

Listed in Part VII

  • Stephen Ponder

    PRESIDENT (BEG. 6/20/22)

    Total calculated
    $334,222
    From this org
    $0
    From related orgs
    $326,744
    Other
    $7,478
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,077 related
    Bonus
    $0 + $76,667 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,478 related
    Filer's total
    $0 + $334,222 related

  • William O Bell

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Kyle Clark

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 40 related

  • Charlie Dudley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Clif Curry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Jimmy Graganella

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Peter Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Scott Darling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • William Sweeney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 40 related

  • Warner Peacock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Michael Alford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.25 related

  • Jp Sinclair III

    CFO

    Total calculated
    $147,941
    From this org
    $0
    From related orgs
    $133,408
    Other
    $14,533
    Hours/week
    5 + 40 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
FSU FINANCIAL ASSISTANCE INC.'S PRESIDENT AND CFO ARE EMPLOYEES OF SEMINOLE BOOSTERS, INC., A RELATED ORGANIZATION. THEIR COMPENSATION IS REVIEWED AND SET IN ACCORDANCE WITH SEMINOLE BOOSTERS INC.'S POLICIES.

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349312775

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