Board of Directors, March 7, 2024
“READ THIS” AGENDA SUMMARY
FY24 Quarter 2 Financial Report Highlights
Profit & Loss Sheet
• Income (line 11) and expenditures (line 21a) for the ArtCIE project are behind schedule. This is due to a delay in program implementation by VR. There is no financial consequence to The Able Trust. These are pass through funds for subcontracts for which we are acting as the fiduciary and grant manager. Most of the subcontracts have been executed in the current quarter, and the project is underway.
• 100% of funds for Research and Data Analysis (line 36) have been expended. These were funds to pay for the development of the legislative research study which was completed in December.
• We made a 3-year payment for our ERISA bond (line 71) for a discounted fee which resulted in over expenditure in this category. No payment will be made for the next 2 years.
Balance Sheet
• The negative balance in line 108.000 reflects the nightly sweep of funds into the IntraFi banking system to protect deposits over $250,000 (not insured by FDIC). The actual balance of the Reserve account is a sum of line 108.000 and 109.003: $592,943.30.
• Our state endowment funds and total unrestricted assets gained $800k in 2023.
• Our private endowment funds gained $300k in 2023.
FY25 Budget Process
The Board of Directors will be emailed a copy of the FY25 Proposed Budget in April. The draft will include a side-by-side comparison of projected expenditures through the end of the current fiscal year and the proposed budget for the upcoming year. Line-item narratives will be included. Allison will schedule 1:1 calls with each director to review the budget and answer questions prior to the May Board Retreat when the budget will be presented for board approval.
2024 Legislative Session Recap
• The legislatively mandated research study prepared by The Able Trust has lead to legislation moving responsibility for Florida’s Employment First initiative into the REACH Office. Employment First requires state and nonprofit entities to coordinate competitive employment support for individuals with disabilities. The REACH Office coordinates access, alignment and accountability across the state’s workforce development system.
• The Able Trust $300,000 funding request to expand Futures in Focus is in both house budgets. This will allow expansion of up to 20 sites and over 1000 students served.
• Meetings with legislative staff will continue into the new fiscal year to keep them apprised of our grants, programs, and outcomes.
Major Gifts Campaign
The Able Trust will launch a major gifts campaign in FY 2025 to raise $23.5 million in a threeyear period. This level of funding will allow us to expand youth programs to: serve over 5000 students per year; increase our fundraising and grant-making capacity; and increase our endowment accounts including private/family endowments. The board will view a short video regarding the campaign during the March meeting and receive a full presentation at the May retreat.
High School High Tech Ambassadors
The Able Trust has launched the High School High Tech Ambassador initiative. This initiative has a dual purpose: increasing brand awareness of The Able Trust by allowing donor/partner interaction with students and providing leadership development for HSHT students. During this school year, the ambassadors will have the opportunity to interact with current partners and prospects, make presentations to The Able Trust Board of Directors and strengthen their communications skills. In addition, each ambassador will receive a $500 scholarship to use to further their education or workforce training. During the March meeting, the board will view a video of the ambassadors that was filmed at the AdventHealth sponsored Orlando Magic event in January and engage in a discussion on opportunities for showcasing the ambassadors in the upcoming fiscal year.
Futures in Focus
The Able Trust, in partnership with the Consortium of Florida Education Foundations, recently announced that grants for Futures in Focus are being awarded to the local education foundations in the following counties: DeSoto, Dixie, Flagler, Hernando, Jackson, Lake, Okaloosa and Santa Rosa counties. Futures in Focus will support students from grades 6 to 12 (aged 1222) who have a disability documented by an IEP or 504 Plan. These eight programs will serve 600 during the current school year and provide exposure to career and post-secondary opportunities.
CEO Evaluation
The March Board materials contain the annual CEO evaluation survey. Each board member is asked to complete the survey and return to Joey D’Souza by April 1, 2024. The results of the survey will be provided to the Executive Committee for review with Allison in early May.
BOARD Meeting Agenda – March 7, 2024, 10:00 AM – NOON, Zoom Link https://us02web.zoom.us/j/86060216426?pwd=UkNzRTJRamRQN1I1RnN5cml6M0luUT09
Meeting Call-In Number: 1 929 205 6099 Meeting ID: 860 6021 6426 Passcode: 882252
Directors are reminded that all Able Trust Board and Committee meeting are open and publicly noticed. Under Florida Sunshine Law, any meeting of 2 or more Able Trust Directors must be publicly noticed. Directors are prohibited from discussing Able Trust business outside of official meetings of the organization. Directors are reminded of conflict-of-interest provisions. In declaring a conflict, please refrain from voting or discussion and declare the following information:
1) Your name and position on the Board, 2) The nature of the conflict, and 3) Who will gain or lose as a result of the conflict.
I.
II. III.
Call to Order (5 Minutes) Roll Call and Establishment of Quorum Approval of Agenda – Action
IV. Consent Agenda – Action (5 Minutes)
Laurie Sallarulo, Chair
Chip Byers, Secretary
Laurie Sallarulo, Chair
a. Acceptance of December Meeting Minutes Pg. 2 - 6 Laurie Sallarulo, Chair
V. Financial & Budget Reports – Action (15 Minutes)
a. 2nd Quarter Profit & Loss Sheet
b. 2nd Quarter Balance Sheet
c. FY 25 Budget Process
VI. Legislative Session Update (15 Minutes)
a. Funding Request
b. Legislative Study
c. FY25 Meetings
VII. Mission Moment – HSHT Ambassador Video (10 Minutes)
VIII. Discussion Items (45 Minutes)
a. HSHT Ambassadors
b. Major Gifts Ramp Up - video
Pg. 7 – 10 Pg. 11 - 12
Pg. 13
c. Futures in Focus Pg. 14 Pg. 15 - 16
IX. Information Items (5 Minutes)
a. CEO Evaluation:
b. Project Venture: April 9, 2024, 2:30 – 5:00 PM Jacksonville, Reception Immediately Following the Contest (5:00 – 6:30 PM)
c. Board Retreat: May 15-16, 2024, Orlando Begins May 15, 5:30 Adjourns May 16, noon
Doug Hilliard, Treasurer (items a-b)
Allison Chase, CEO
Todd Jennings, Committee Chair
Allison Chase, CEO (items b-c)
Leanne Rexford, Director of Partner Relations
Donna Wright, VP (items a-b)
Joey D’Souza, SVP
Pg. 17
Joey D’Souza, SVP
Laurie Sallarulo, Chair (items b-c)
Laurie Sallarulo, Chair
Please Note: Agenda subject to revisions and additions per the discretion of the Chair of the Board of Directors. Notification will be sent of any such revisions or changes. Members of the Public: Please notify Arnaldo Ramos at Arnaldo@AbleTrust.org if you wish to make public comment on particular agenda items no later than 1-hour prior to beginning of the meeting.
X. New Business Public Comment Adjourn
Florida Endowment Foundation for Vocational Rehabilitation, dba The Able Trust
DRAFT - Meeting Minutes
Board of Directors Meeting – December 7, 2023 10:00 a.m. to 12:00 p.m.
Virtual Meeting
Members in Attendance
Members Absent
Staff in Attendance
Others in Attendance
Item
Chip Byers, Mavara Agrawal, Todd Jennings, Lori Fahey, Stephanie Westerman, Victoria Gaitanis, Laurie Sallarulo
Doug Hilliard, Alexis Doyle
Allison Chase, President; Arnaldo Ramos, Office Administrator and Executive Assistant to the President; Donna Wright, Vice President of Development & Marketing; Joseph D’Souza, Vice President, External Engagement; Justin Adams, Communications Manager; Leanne Rexford, Director of Partner Relations
Allison Harrell – Thomas Howel Ferguson, Tony Carvajal
Action/Discussion
I. Call to Order Laurie Sallarulo, Board Chair called the meeting to order at 10:09a m
II. Roll Call and Establishment of Quorum
III. Approval of Agenda –Action
IV. Approval of Consent Agenda – Action
a. Acceptance of September Meeting Minutes
b. Acceptance of FY24 Pettengill Donnor Fund
c. Acceptance of FY24 Family Endowment Funds
d. Committee Reports, Nov. 2023
Chip Byers, Board Secretary completed roll call and a quorum was established at 10:11a.m.
Motion to approve the agenda, consent agenda, first by Lori Fahey and seconded by Director Byers.
Consent agenda approved first by Director Byers, and seconded by Director Westerman, motion carried unanimously
V. Action Items (30 Minutes)
a. Finance Report
Acceptance of FY23 1st Quarter
P&L Statement –Action
b. Acceptance of FY23 1st Quarter
Balance Sheet –Action
c. FY2023 Audit Report
President Chase, presented the finance report with the following highlighted details:
• New Grants/Income – already over 50% for this year.
• Project Based Revenue – budgeted for just over 2 million dollars, this includes the ArtCIE Grant that the Able Trust is managing. Contracts for subcontractors are pending. Currently, we have brought in $25,000.
• Sponsorships/Unrestricted Gifts – we are currently at about $50,000, which brings us to about 50% of our goal.
• Erisa Bond – the reason it is currently over the budget allocation is because the renewal is for 3 years, and the current budget only reflects the cost for 1 year. The decision to proceed with a 3-year renewal is based on cost savings to maintain the bond.
• Total Expenses – we are currently at 22%, and we are on track for the first quarter of the year.
Balance Sheet
• Current Assets/Bank Accounts – it appears the account has a negative balance, however as previously explained we moved into a Cash Sweep Program to protect the funds as we have over $250,000, and the FDIC only protects up to that amount.
• Current Assets/Accounts Receivable – undeposited funds look like a negative number currently. However, these are pending funds being paid to the Able Trust due to outstanding invoices or awarded grants where funds have yet to be distributed to us. We are at about $103,000.
• Total Other Current Assets – as a comparison between last year and this year, we are at an increase. Allison Harrell from Thomas Howell Ferguson will be delving deeper into explaining the reason for this as she explains the performance of our investment accounts over the last year.
• Total Endowments – the family funds have increased over $300,000 which is good news.
A motion was made first by Director Jennings and Seconded by Director Sallarulo. The motion carried unanimously.
Allison Harrell, Audit Shareholder – Thomas Howell Ferguson P.A. CPA’s
• Unmodified Opinion was issued, which is the highest level of assurance on audited financial statements.
• This year a Single Audit/Grant Compliance Audit was performed this year because the expenditures of state grant funds exceeded $750,000.
• Management Discussion Analysis – required by governmental accounting standards and provides a narrative for the financial result for the last year. Ms. Harrell proceeded to review the details of the audit and comparison of performance for various accounts as well as naming documentation issued by the CPA firm affirming all accounts.
Motion to accept the FY2023 Audit Report, first by Director Fahey, seconded by Director Byers. Motion passed unanimously.
VI. Legislative Research Study
a. Presentation of Findings
b. Use of Report 2024 Session
Updates
a. Youth Program Expansion, Collective Impact, VR Staff Support
Over the last several months the Able Trust has been responding to SB240’s request for what was added to the Practice Act, which is a research report that addressed various areas. This report was completed collaboratively and has brought various stakeholders together along with input from the Department of Education and the legislature.
The report addresses incongruencies between laws and rules and challenges and barriers persons with disabilities face, not only in early years, such as the Pre-k through 12th school system, but particularly in transitioning out of high school into the workforce. Attention will be given to a section of the law called Employment First, which is supported by state agencies that provide services and products to persons with disabilities to coordinate bridging these gaps and assessing resources available for smoother transition into the workforce and independence. Also referenced in the report are the REACH Act and Florida Wins regarding best practices in and out of the state of Florida.
There is also discussion regarding the increase in employment in industries which will help further the Able Trust mission focusing on employment opportunities.
A special thank you to Sr. Chancelor Richey at the Department of Education, the Department of Vocational Rehabilitation, and the members of the Able Trust Board of Directors for reviewing the report and providing invaluable feedback and support in helping to create this report. President Chase also emphasized that this report helped to strengthen the relationships with the local legislative staff and mentioned Jason Fudge’s guidance on ensuring that the report provided information to support the legislators this session.
In preparation for the upcoming legislative session, President Chase provided an update pursuant to conversations with Allen Suskey, Shumaker Consulting Lobbyist. Various requests have been received to meet with legislators to learn more about the report. These meetings will most likely take place in January. President Chase also encouraged the board members, reach out to their local legislators, and share this report or provide and introduction to the Able Trust to share the findings of this report.
President Chase and Sr. Vice President D’Souza provided good news regarding reaching and achieving our performance metrics for the first year of the strategic plan. The Able Trust’s strategic plan is to
• Make data driven decision.
• Solve issues using the Lean Impact Model.
VII. DSO Strategic Plan Tony Carvajal – Legislative Research Report Update and Findingsb. Grant Committee Recommendations – Action
• Fail fast and iterate
• Everything underscores our role as a direct support organization
Year 1 – Data Resources & Methods
• Lean Impact: Testing Collective Impact in the Tampa area to further develop relationships between the Department of Vocational Rehab and local providers.
• Pathways and Legislative Research Study – our data sources.
• Discovery conversation with leadership at the Department for Vocational Rehab.
• Accomplishing 30 years of the High School High Tech Program
Year 2 – Strategic Priority Iterations
• Continue and strengthen practice of data-driven decision making. Currently working towards systems mapping of secondary and postsecondary systems for students with disabilities.
• Support the Department of Vocational Rehab in reaching PreETS/Transition Goals by expanding High School High Tech and starting the pilot program Futures in Focus.
• Supporting the Department of Vocational Rehab in staff retention, professional development, and leadership initiatives.
• Continuing increase of funds through diversified streams of income.
These priorities are in line with the priorities in other states as we have discovered through our data and research efforts.
Future Planning:
• 5-year goals for students served.
• 5-year goal for funding.
• Results of the High School High Tech Lite Pilot – Futures in Focus.
• Supporting the Department of Vocational Rehab on staff retention and professional development.
• Results of the Department of Vocational Rehab staff retention and professional development in Area 4.
Sr. Vice President D’Souza & Director Agrawal
Sr. VP D’Souza began by mentioning that we are partnering with the Consortium of Florida Education Foundation (“C.F.E.F.”) to issue and track grants for the Future in Focus program to further expand the reach of High School High Tech. This partnership will enable us to better serve students with disabilities. President Chase also stated that the C.F.E.F. has funding given to them by the state to match grants that meet certain criteria, so the sites selected for the Futures in Focus program who are selected could double their funding.
• $75,000 Grant – to support the Future in Focus pilot program being administered by C.F.E.F., which covers students from 6th grade to 12th grade.
VIII. Information Items
a. Project Venture
b. Conflict of Interest and Ethics Statements
IX. Mission Moment –Florida Blue DEAM Video
• $20,000 Grant – Broward College for systems mapping resources for students with disabilities.
Motion to approve the grant committee recommendations first by Director Mavara and seconded by Director Westerman. Motion carried unanimously.
Project Venture – April 9, 2024 | 2:30pm-5:00pm
Reminder to the directors to submit the Conflict of Interest and Ethics Statements.
Donna Wright, VP of Marketing and Development
VP Wright thanked the board of directors and shared a video featuring Director Westerman celebrating Disability Employment Awareness Month (“DEAM”).
Discussion Items – Full Board (1 Hour 15 Minutes)
Information Items N/A
New Business
Next Board Meeting
Adjourn
Virtual Board Meeting on March 7, 2023, from 10am-12pm
Board meeting adjourned at 12:12p.m.
Respectfully submitted, James “Chip” William Byers IV, Secretary
The Able Trust Balance Sheet
As of December 31, 2023
The Able Trust Balance Sheet
The program aligns with Casey DeSantis’ ‘Hope Florida’ initiative.
Sen. Nick DiCeglie notched a win in the higher education committee conference, with a House offer meeting his request for a higher education program that helps young adults transition from high school to post-secondary education.
DiCeglie requested, and the House matched in its initial offer, $300,000 for High School High Tech 2.0, a program expansion to The Able Trust program that gives high school students with disabilities opportunities to explore jobs or post-secondary education options that lead into high-demand careers.
The program, as it exists currently, connects youth to academic, career development and experiential resources to be better prepared for the workforce. It currently operates at 45 sites throughout the state to improve vocational and other educational and employmentrelated activities, increase high school graduation rates and increase enrollment in postsecondary education and training.
DiCeglie’s request would provide funding to expand that mission to further align with state educational goals, such as the REACH Act and First Lady Casey DeSantis’ Hope Florida Initiative seeking to remove barriers to self-sufficiency and provide clear pathways for economic opportunity.
Of the $300,000 on offer, $200,000 would be used to provide grants to public, private and charter schools and training and technical assistance from The Able Trust. Another $95,000 would pay for salary and benefits for the Able Trust High School High Tech state director, which facilitates youth programs for the organization. The remaining $5,000 would fund travel for the organization’s director.
“Students with disabilities often face barriers that limit academic success and affect future employment,” the request reads. “This project ensures better preparation for transition from high school to post-secondary education.”
The program, with the additional funding, is expected to serve between 400 and 800 individuals within the disability and economically disadvantaged communities.
DiCeglie’s request is just one of 59 he filed this Legislative Session totaling nearly $102 million, many of which were higher education priorities.
