Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: TICKET SALES

  total $8,134,362 · related or exempt $8,134,362

• 2b · Program service revenue: EVENT REVENUE-SOCCER

  total $7,065,556 · related or exempt $7,065,556

• 2c · Program service revenue: NFL PRO BOWL

  total $3,887,806 · related or exempt $3,887,806

• 2d · Program service revenue: SPONSORSHIPS

  total $1,772,564 · related or exempt $1,772,564

• 2e · Program service revenue: COMMUNITY PROGRAM REVENUE

  total $1,762,500 · related or exempt $1,762,500

• 2f · All other program service revenue

  total $3,397,739 · related or exempt $3,397,739

• 3 · Investment income

  total $193,404 · excluded $193,404

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $45,405 · program services $45,405

• 11a · Fees: management

  total $688,239 · program services $385,414 · management and general $158,298 · fundraising $144,527

• 11b · Fees: legal

  total $343 · program services $343

• 11c · Fees: accounting

  total $36,395 · program services $36,395

• 11g · Fees: other

  total $1,136,724 · program services $1,136,724

• 12 · Advertising and promotion

  total $1,208,129 · program services $1,208,129

• 13 · Office expenses

  total $88,137 · program services $88,137

• 14 · Information technology

  total $6,632 · program services $6,632

• 16 · Occupancy

  total $4,218,780 · program services $4,218,780

• 17 · Travel

  total $259,410 · program services $259,410

• 23 · Insurance

  total $266,546 · management and general $266,546

• 24a · Other expenses: TEAM PAYOUTS

  total $11,771,923 · program services $11,771,923

• 24b · Other expenses: OTHER EVENT EXPENSES

  total $1,261,333 · program services $1,261,333

• 24c · Other expenses: TAXES & LICENSES

  total $572,234 · program services $572,234

• 24d · Other expenses: MEALS & ENTERTAINMENT

  total $496,527 · program services $496,527

• 24e · All other expenses

  total $1,298,790 · program services $1,298,790

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $79,844 · end of year $7,903

• 2 · Savings and temporary cash investments

  beginning of year $3,324,989 · end of year $4,695,819

• 4 · Accounts receivable

  beginning of year $745,120 · end of year $4,904,359

• 9 · Prepaid expenses and deferred charges

  beginning of year $532,247 · end of year $452,098

• 17 · Accounts payable and accrued expenses

  beginning of year $119,173 · end of year $2,884,010

• 19 · Deferred revenue

  beginning of year $1,440 · end of year $0

• 25 · Other liabilities

  beginning of year $3,707,614 · end of year $3,463,812

• 27 · Net assets without donor restrictions

  beginning of year $853,973 · end of year $3,712,357

The filer's explanations (Part III)

PART I, LINE 3

FLORIDA CITRUS SPORTS EVENTS, INC. USES A COMPENSATION COMMITTEE TO DETERMINE COMPENSATION OF THE CEO AND THE POOL OF DOLLARS FOR SALARY ADJUSTMENTS OF ALL OTHER STAFF MEMBERS. THE COMPENSATION COMMITTEE, CONSISTING OF MEMBERS OF THE EXECUTIVE COMMITTEE ARE PRESENTED WITH COMPARATIVE SALARY AND BONUS DATA FOR TOP MANAGEMENT OFFICIALS AND THE CEO FOR THE PRIOR YEAR, FROM INDUSTRY SALARY AND BONUS DATA PUBLISHED BY THE FOOTBALL BOWL ASSOCIATION. DURING THE SUMMER OF FISCAL YEAR 2023, THE ORGANIZATION HAD A COMPENSATION STUDY PREPARED BY EY TO ASSIST WITH MAKING COMPENSATION DETERMINATIONS AND PLANS TO OBTAIN AN UPDATED SURVEY EVERY FOUR TO FIVE YEARS. THE SALARIES AND BONUSES FOR TOP MANAGEMENT OFFICIALS AS RECOMMENDED BY THE CEO ARE REVIEWED. ONCE AN AGREEMENT IS REACHED WITHIN THE COMPENSATION COMMITTEE, THE NEW COMPENSATION FOR THE CEO AND OTHER STAFF MEMBERS IS PRESENTED TO THE ENTIRE EXECUTIVE COMMITTEE FOR FINAL REVIEW AND APPROVAL. THE CEO'S SALARY AND BONUS IS DETERMINED BY THE COMPENSATION COMMITTEE AND IS NOT PART OF THE RECOMMENDATIONS OF THE CEO. ALL DECISIONS ARE DOCUMENTED.