EXECUTIVE & FINANCE Committee Meeting Agenda – August 30, 2022 – 8:30 – 10:00 AM Virtual Meeting Zoom Link: https://us02web.zoom.us/j/87941386881?pwd=VGUzUk1DZDFHSzBlckVYUHp3ckc3QT09 Meeting Call-In Number: 1-929-205-6099 Meeting ID: 879 4138 6881 Passcode: 438301 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. Document I. Call to Order and Roll Call Laurie Sallarulo, Board Chair II. Consent Agenda Action a. Meeting Agenda b. April Finance Committee Minutes c. April Executive Committee Minutes d. FY2022 Final P&L Sheet e. FY2022 Final Balance Sheet Laurie Sallarulo, Board Chair III. Regular Business a. Investment Advisor Presentations i. Steve Harrod, MSSB ii. Scott Hilton, Wells Fargo b. FY23 Budget Amendments c. BOD Retreat & Future Meeting Dates d. BOD Self-Assessment Process e. Marketing & Development Committee f. Legislative Events g. Board Matrix h. CEO Annual Evaluation Doug Hilliard, Finance Chair Laurie Sallarulo, Board Chair IV. Unfinished Business New NextPublicBusinessCommentFinanceCommittee Meeting: TBD Next Executive Committee Meeting: TBD Adjourn Laurie Sallarulo, Board 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.
PUBLICCOMMENT
AllisonChasereviewedtheproposedbudgetforFY23andansweredmember questions. Dougmadeamotiontoapprovethedraftbudgetforthefullboard reviewinMay. MotionwassecondedbyChip,andunanimouslyapproved AllisonreviewedthedraftspendingpolicyandDougexplainedthatthiswas developedtocreateabalancebetweenspendingandgrowthofinvestmentfunds. Lauriemotionedtoapprovedthepolicy,Chipseconded,andthemotionwas unanimouslyapproved. DougadvisedthecommitteethatheandAllisonhavebeendiscussingthe developmentofaninvestmentcommitteetohelpguideinvestmentdecisions. The committeeaskedAllisontopursuealistofpotentialnomineesandreportatthenext committeemeeting. None. Nopubliccommentwasoffered.
Lauriemadeamotiontoaccepttheconsentagenda,secondedbyChip. Theconsent agendawasunanimouslyapproved. FY23DraftBudget DraftSpendingPolicy InvestmentCommittee
c.
b.
Page 1 of 1 FloridaEndowmentFoundationforVocationalRehabilitation,dbaTheAbleTrust DRAFTFinanceCommitteeMeetingMinutes ExecutiveCommitteeMeeting–April28,2022,8:30am VirtualMeeting MembersinAttendance James“Chip”Byers;DougHilliard;LaurieSallarulo MembersAbsent MavaraMirza-Agrawal StaffinAttendance
ADJOURN
AllisonChase,President&CEO Item Action/Discussion CalltoOrderandRollCall TreasurerHilliardcalledthemeetingtoorderat8:30am Aquorumwasconfirmed. Agenda
Respectfullysubmitted, Laurie CommitteeSallaruloChair
b. January CommitteeFinanceMinutes
UNFINISHEDBUSINESS
NEXTMEETING
REGULARFINANCECOMMITTEEBUSINESS a.
July12,2022,9:00–9:30AM
Therebeingnofurtherbusinessandupon motionbyDirectorHilliard,seconded byDirectorByers,themeetingadjournedat9:03am.
CONSENTFINANCECOMMITTEEAGENDA a. Meeting
Chipledadiscussiononsocialmediamessagingandwouldliketoleadafullboard discussiononhowtheorganizationmaybemoreengagingparticularlyonFacebook andInstagram. Thecommitteeagreed. ThisitemwillbeincludedontheAugust Laurieagenda.ledadiscussiononincludingtimeforbrainstormingonthefullboard agenda. Thecommitteeandstaffwillrecommendvarioustopicsprimarilyrelated thestrategicplanandotherareasforboardengagement/input.
UNFINISHEDBUSINESS
CONSENTEXECUTIVECOMMITTEEAGENDA a. MeetingAgenda b. January CommitteeExecutiveMinutes
StaffinAttendance
AllisonprovidedthecommitteewithguidancefromtheStateAttorneyGeneral’s officethatstateboardsareauthorizedundertheSunshineLawtoholdmeeting usingvirtualtechnology.
NEXTMEETING
James“Chip”Byers;DougHilliard;LaurieSallarulo MavaraMirza-Agrawal
MembersAbsent
Therewasnodiscussion. Nopubliccommentwasoffered.
Page 1 of 1 FloridaEndowmentFoundationforVocationalRehabilitation,dbaTheAbleTrust DRAFTExecutiveCommitteeMeetingMinutes ExecutiveCommitteeMeeting–April28,2022–9:00am VirtualMeeting MembersinAttendance
TheLegislativeCommitteeisexpectedtoencouragethefullboardtoarrangefor meetingswithrepresentativesfromtheirlocaldistrict. Staffandthelobbyingteam willbeavailabletohelpprepareforandattendmeetings.
July12,2022,9:00–9:30AM
Therebeingnofurtherbusinessandupon motionbyDirectorHilliard,seconded byDirectorByers,themeetingadjournedat9:40am.
Respectfullysubmitted, Laurie CommitteeSallaruloChair
CHAIRREPORT a. SunshineLaw b. FY23 ReauthorizationLegislative c. BODGuidanceon SocialMediaMessaging d. BOD ConversationsBrainstorming
Dougmadeamotiontoaccepttheconsentagenda,secondedbyChip. Theconsent agendawasunanimouslyapproved.
PUBLICCOMMENT
AllisonChase,President&CEO Item Action/Discussion CalltoOrderandRollCall ChairSallarulocalledthemeetingtoorderat9:03am Aquorumwasconfirmed.
ADJOURN
Accrual Basis The Able Trust Profit & Loss byClass July1, 2021 through June 30, 2022 FY 2022% of TOTALBudgetVarianceBudgetBudget OrdinaryIncome/Expense Income 603.016 · Fees Earned-Manage FamilyFunds 600.300 · Endowment Admin Fees 49,280.80 45,182.62 4,098.18 109.1% Total 603.016 · Fees Earned-Manage FamilyFunds 49,280.80 45,182.62 4,098.18 109.1% 600.102 · Grants 600.017 · New Grants 600.100 · Grants/Gifts - Unrestricted 5,000.00 20,000.00 (15,000.00) 25.0% Total 600.103 · Grants from Prior Period 5,000.00 20,000.00 (15,000.00) 25.0% Total 600.102 · Grants 5,000.00 20,000.00 (15,000.00) 25.0% 600.105 · Project Based Revenue Sources 606.000 · Annual Fund Raiser 500.00 606.106 · High School High Tech 40,000.00 - 40,000.00 100.0% 606.800 · DEAM/DMD Income 16,000.00 7,500.00 8,500.00 213.3% Total 600.105 · Project Based Revenue Sources 56,500.00 7,500.00 49,000.00 753.3% 603.003 · Sponsorships & Unrestr Gifts 603.004 · Fundraising Campaigns 603.300 · Direct Mail-Grants/Gifts 2,000.00 - 2,000.00 100.0% 606.107 · Giving Challenges 6,605.22 - 6,605.22 100.0% 603.004 · Fundraising Campaigns - Other 11,500.00 - 11,500.00 100.0% Total 603.004 · Fundraising Campaigns 20,105.22 - 20,105.22 100.0% 603.101 · Corp./Ind. Gifts - Unrestricted 27,533.56 - 16,029.60 100.0% 603.003 Sponsorships & Unrestr Gifts - Other 6,237.00 Total 603.003 · Sponsorships & Unrestr Gifts 53,875.78 - 53,875.78 100.0% 603.006 · State Appropriations/Other Govt 606.700 · HS/HT DOE-VR Funds 549,823.00 549,823.00 - 100.0% Total 603.006 · State Appropriations/Other Govt 549,823.00 549,823.00 - 100.0% 603.008 · Investment Income 603.009 · Bank Accounts 610.001 · Interest/Dividends 610.025 · Interest/Div Bank Accts Current 610.011 · Interest The First Reserve 0.05 0.05 610.018 · Interest The First Sinking Fund 171.62 171.62 Total 610.025 · Interest/Div Bank Accts Current 171.67 434,062.59 (433,890.92) 0.0% Total 610.001 · Interest/Dividends 171.67 434,062.59 (433,890.92) 0.0% Total 603.009 · Bank Accounts 171.67 434,062.59 (433,890.92) 0.0% 603.011 · Investments State Endowment 610.026 · Int/Div Invest Accts Current 610.021 · Interest/Dividend MSSB(2) 212,761.12 212,761.12 100.0% 610.031 · Interest/Dividend Wells Fargo 541,133.95 541,133.95 100.0% Total 610.026 · Int/Div Invest Accts Current 753,895.07 - 753,895.07 100.0% Total 603.011 · Investments State Endowment 753,895.07 - 753,895.07 100.0% 603.014 · Gain/Loss on Investments 662.000 · Realized Loss/Gain Invest-State 932,891.50 - 932,891.50 100.0% Page 1 of 5Unaudited for Management Purposes Only
Accrual Basis The Able Trust Profit & Loss byClass July1, 2021 through June 30, 2022 FY 2022% of TOTALBudgetVarianceBudgetBudget Total 603.014 · Gain/Loss on Investments 932,891.50 - 932,891.50 100.0% Total 603.008 · Investment Income 1,686,958.24 1,800,000.00 932,891.50 93.7% 610.016 · Income Principal Stock 346.71 - 346.71 100.0% 603.013 · Other Income 615.000 · Miscellaneous Income 10,410.40 - 10,410.40 100.0% 603.400 · Noncash/In-Kind Contributions 1,999.00 - 1,999.00 100.0% Total 603.013 · Other Income 12,409.40 - 12,409.40 100.0% Total Income 2,414,193.93 1,056,568.21 1,357,625.72 228.5% Gross Profit 2,414,193.93 1,056,568.21 1,357,625.72 228.5% 731.000Expense· Interest Expense 3,723.48 739.000 · Amortization Expense 23,768.53 772.000 · Late Fees 55.00 808.600 · Able IF 2025 808.601 · Data/Economic Analysis 105,000.00 100,000.00 5,000.00 105.0% 808.602 · Able IF Travel 359.20 20,000.00 (19,640.80) 1.8% Total 808.600 · Able IF 2025 105,359.20 120,000.00 (14,640.80) 87.8% 805.173 · In-kind Expense 1,999.00 701.002 · Compensation 701.000 · Salaries 586,864.63 622,750.00 (35,885.37) 94.2% 701.220 · Severance Pay 7,114.62 - 7,114.62 100.0% 701.230 · Cell Phone Reimbursement 4,891.00 - 4,891.00 100.0% 701.240 · Allowance for Incentives - - 0.0% Total 701.002 · Compensation 598,870.25 622,750.00 (23,879.75) 96.2% 701.200 · Payroll Processing/Reports Fee 339.50 1,200.00 (860.50) 28.3% 701.250 · Finance, HR & Record Keeping 67,890.00 70,000.00 (2,110.00) 97.0% 702.000 · Payroll & Unemployment Taxes 45,325.81 62,549.38 (17,223.57) 72.5% 703.000 · Employee Health/Dental Ins. 703.001 · Employee Health Insurance 36,716.77 60,278.17 (23,561.40) 60.9% 703.002 · Employee Dental Insurance 1,317.75 4,270.29 (2,952.54) 30.9% Total 703.000 · Employee Health/Dental Ins. 38,034.52 64,548.46 (26,513.94) 58.9% 703.100 · STD/LTD/Life Insurance 703.101 · Employee STD/LTD 3,541.72 6,655.00 (3,113.28) 53.2% 703.102 · Employee Life Insurance 554.40 1,210.00 (655.60) 45.8% Total 703.100 · STD/LTD/Life Insurance 4,096.12 7,865.00 (3,768.88) 52.1% 704.000 · 401(k) Match & Expenses 8,840.35 34,070.58 (25,230.23) 25.9% 710.000 · Staff Membership Dues 9,283.68 9,500.00 (216.32) 97.7% 710.500 · Staff Training & Development 8,231.03 2,000.00 6,231.03 411.6% 711.000 · Staff Travel & Outreach 18,681.09 30,000.00 (11,318.91) 62.3% 712.000 · Webinars 15.00 3,000.00 (2,985.00) 0.5% 730.000 · Invest & Bank Account Charges 119,399.41 203,201.04 (83,801.63) 58.8% 750.000 · Computers & Equipment 2,730.05 4,900.00 (2,169.95) 55.7% 750.100 · Software & Licenses 17,729.21 18,500.00 (770.79) 95.8% 755.000 · Endowment Funds/Invest Mgmt Page 2 of 5Unaudited for Management Purposes Only
Accrual Basis The Able Trust Profit & Loss byClass July1, 2021 through June 30, 2022 FY 2022% of TOTALBudgetVarianceBudgetBudget 755.625 · Endow-Griffith Holdings Fees 4,374.04 - 4,374.04 100.0% Total 755.000 · Endowment Funds/Invest Mgmt 4,374.04 - 4,374.04 100.0% 758.000 · Insurances - non-health 758.100 · Insurance - BOP,Auto,Event Canc 7,035.17 6,376.57 658.60 110.3% 758.200 · Insurance - LiabilityUmbrella 2,171.19 2,083.33 87.86 104.2% 758.300 · Insurance Directors & Officers 2,404.00 2,500.00 (96.00) 96.2% 758.400 · Insurance Worker's Compensatio 1,629.00 2,213.00 (584.00) 73.6% Total 758.000 · Insurances - non-health 13,239.36 13,172.90 66.46 100.5% 765.000 · Legal 765.400 · Legal Contingency 450.00 35,000.00 (34,550.00) 1.3% 765.000 · Legal - Other 87.50 2,500.00 (2,412.50) 3.5% Total 765.000 · Legal 537.50 37,500.00 (36,962.50) 1.4% 765.200 · Lobbying 34,709.58 35,000.00 (290.42) 99.2% 766.000 · Audit & Tax 766.001 · Auditor Fee 27,051.00766.200 · Forms 990 & 5500 Filing 1,585.00Total 766.000 · Audit & Tax 28,636.00 29,950.00 (1,314.00) 95.6% 770.000 · Office Supplies 2,744.75 3,000.00 (255.25) 91.5% 774.000 · Postage 525.56 1,000.00 (474.44) 52.6% 775.000 · Printing 1,579.23 1,000.00 579.23 157.9% 776.100 · Rent - Office Space 77,460.21 112,403.25 (34,943.04) 68.9% 776.101 · State Storage Document Destruct 196.94 3,000.00 (2,803.06) 6.6% 776.104 · Copier maintenance & ovrg fee 1,298.81 1,900.00 (601.19) 68.4% 790.000 · Telephone/Internet 3,780.16 9,000.00 (5,219.84) 42.0% 790.101 · IT Support - Form 1099-NEC 6,102.73 - 6,102.73 100.0% 793.000 · Board Related Expenses 793.000 · Board Related Expenses Other 544.38 793.050 · QuarterlyMeetings 169.31 1,000.00 (830.69) 16.9% 793.001 · Board Retreats 4,643.72 10,000.00 (5,356.28) 46.4% 793.500 · Board Member Travel & Materials 2,079.18 - 2,079.18 100.0% Total 793.000 · Board Related Expenses 7,436.59 11,000.00 (3,563.41) 67.6% 794.000 · CEO Program Management/Research 794.010 · CEO Meetings/Travel/Misc Exp. 11,192.55 15,000.00 (3,807.45) 74.6% 794.030 · CEO Memberships 2,678.32 2,000.00 678.32 133.9% Total 794.000 · CEO Program Management/Research 13,870.87 17,000.00 (3,129.13) 81.6% 780.000 · DVR/Staff Events 60,065.92 48,000.00 12,065.92 125.1% 781.000 · Other Support to DVR 20,000.00 70,000.00 (50,000.00) 28.6% 801.000 · Grant Obligations - Prior FY 138,500.00 138,500.00 - 100.0% 802.010 · Donor Directed Grants 76,575.90 50,000.00 26,575.90 153.2% 802.100 · Grant Obligations - HS/HT AT/VR 802.200 · Grants - HS/HT Continuation AT 379,723.46 802.300 · Grants - HS/HT VR Funded 537,012.00 Total 802.100 · Grant Obligations - HS/HT AT/VR 916,735.46 946,000.00 (29,264.54) 96.9% 803.303 · Grants - Sponsorsips 7,750.00 10,000.00 (2,250.00) 77.5% Page 3 of 5Unaudited for Management Purposes Only
Accrual Basis The Able Trust Profit & Loss byClass July1, 2021 through June 30, 2022 FY 2022% of TOTALBudgetVarianceBudgetBudget 805.000 · Advertising 805.135 · Website Maint. & Updates 11,601.95 25,000.00 (13,398.05) 46.4% 805.000 · Advertising - Other 402.72 - 402.72 100.0% Total 805.000 · Advertising 12,004.67 25,000.00 (12,995.33) 48.0% 805.122 · Solicitation License Renewal 200.00 200.00 - 100.0% 805.300 · Fundraising & Donor Development 6,197.87 - 6,197.87 100.0% 807.100 · HSHT The Able Trust 807.100 · HSHT Other 2,868.03 807.121 · HSHT Travel 807.160 · Travel-Vice President 3,252.97 - 3,252.97 100.0% Total 807.121 · HSHTTravel 6,121.00 - 6,121.00 100.0% 807.145 · HSHT Supplies & Postage 6.23807.150 · HSHT Annual Training 16,891.78 20,000.00 (3,108.22) 84.5% 807.200 · HSHT Student Initiatives 807.204 · BAC Devel/Speech Research 3,062.50 - 3,062.50 100.0% 807.200 · HSHT Student Initiatives - Other 4,765.98 6,000.00 (1,234.02) 79.4% Total 807.200 · HSHTStudent Initiatives 7,828.48 6,000.00 1,828.48 130.5% Total 807.100 The Able Trust - Other 4,492.05 4,492.05 100.0% Total 807.100 · HSHTThe Able Trust 35,339.54 20,000.00 7,504.83 176.7% 807.600 · DisabilityEmpl Awareness-DEAM 807.601 · DEAM Events 1,658.98 2,000.00 (341.02) 82.9% 807.604 · DEAM-Printing & Supplies 98.88 - 98.88 100.0% Total 807.600 · DisabilityEmpl Awareness-DEAM 1,757.86 2,000.00 (242.14) 87.9% 808.500 · ABLE Network 808.510 · Support to Regional Networks 74.64 - 74.64 100.0% 808.515 · Projects & Consultants 54,000.00 50,000.00 4,000.00 108.0% 808.520 · Resources & Supplies 8.51 - 8.51 100.0% Total 808.500 · ABLE Network 54,083.15 50,000.00 4,083.15 108.2% 810.310 · Miscellaneous Expense 472.00 738.000 · Depreciation 4,742.35 4,500.00 242.35 105.4% 820.000 · Loss on Disposal/ Fixed Assets 112,099.75 - 112,099.75 100.0% Total Expense 2,717,388.03 2,853,710.61 (204,941.95) 95.2% Net OrdinaryIncome (303,194.10) (1,797,142.40) 1,562,567.67 16.9% Other Income/Expense Other 603.015Income·Gain/Loss Investments-Private 662.001 · Realized Gain/Loss Invest-Priva 24,693.13 - 24,693.13 100.0% 661.001 · Unrealized Gain/Loss Inv Privat (586,867.39) - (586,867.39) 100.0% Total 603.015 · Gain/Loss Investments-Private (562,174.26) - (562,174.26) 100.0% 602.001 · Endowments & Bequests 602.101 · Endowment Contrib-Private Accts 602.196 · Account Contribution McKeon 602.197 · Account Contribution Pettengill 50,000.00 50,000.00 - 100.0% Total 602.101 · Endowment Contrib-Private Accts 50,000.00 50,000.00 - 100.0% Page 4 of 5Unaudited for Management Purposes Only
Accrual Basis The Able Trust Profit & Loss byClass July1, 2021 through June 30, 2022 FY 2022% of TOTALBudgetVarianceBudgetBudget Total 602.001 · Endowments & Bequests 50,000.00 50,000.00 - 100.0% 661.000 · Endow. Unrealized Loss/Gain (4,329,304.68) - (4,329,304.68) 100.0% 663.001 · Invest Private Endow Int/Div 663.200 · Invest Private-Int/Div-Donor 663.194 · Invest Private-Int/Div-Gallimor 28,119.78 663.195 · Invest Private Int/Div-Hibbard 19,179.49 663.196 · Invest Private Int/Div-McKeon 41,197.26 663.197 · Invest Private Int/Div-Petteng 2,705.37 663.198 · Invest Private Int/Div-Thomas 43,133.80 663.199 · Invest Private Int/Div-Ward 32,043.23 663.192 · Invest Private Int/Div-LeRoy 7,483.14 663.001 · Invest Private Endow Int/Div - Other 150,000.00 (150,000.00) 0.0% Total 663.001 · Invest Private Endow Int/Div 173,862.07 150,000.00 23,862.07 115.9% Total Other Income (4,667,616.87) 200,000.00 (4,867,616.87) -2,333.8% Other 730.501Expense·Managed Account Fees 18,591.02 - 18,591.02 100.0% 730.502 · Managed Acct Able Trust Adm Fee 49,631.09 - 49,631.09 100.0% Total Other Expense 68,222.11 - 68,222.11 100.0% Net Other Income (4,735,838.98) 200,000.00 (4,935,838.98) -2367.9% (5,039,033.08) (1,597,142.40) (3,373,271.31) 315.5% Page 5 of 5Unaudited for Management Purposes Only
The Able Trust Balance Sheet As of June 30, 2022 ASSETSUNRESTRICTED June 30, 2021June 30, 2022 UNRESTRICTEDRESTRICTED RESTRICTEDPARTIALLY Current Assets/Bank Accounts 108.000 · The First Reserve 632,008.56 711,317.63 711,317.63 109.000 · The First Operating 45,653.38 50,147.17 50,147.17 109.200 · The First Admin Sinking 287,038.25 421,396.90 421,396.90 109.001 · Petty Cash 62.81 78.81 78.81 110.061 · Morgan Stanley Smith Barney (2) 178,376.76 207,309.36 207,309.36 110.200 · Wells Fargo 127,403.02 59,005.81 59,005.81 Total Current Assets/Bank Accounts 1,270,542.78 1,449,255.68 1,182,940.51 266,315.17Current Assets/Accounts Receivable 12000 · Undeposited Funds 2,500.00 2,500.00 120.001 · Accounts Rec - General 5,000.00 73,030.00 120.007 · Accounts Rec - SOF/DOE/VR 137,455.75 137,455.75 137,455.75 120.008 · Accounts Rec - Endowment Admin Fees 14,072.95 10,700.68 10,700.68 128.000 · Prepaid Expense 9,242.09 6,875.00 6,875.00 Total Current Assets/Accounts Receivable 165,770.79 230,561.43 20,075.68 137,455.75State Endowments110.061·Morgan Stanley Smith Barney (2) 11,336,065.92 9,097,336.36 9,097,336.36 110.200 · Wells Fargo 11,511,322.49 9,237,598.81 9,237,598.81 Total Other Current Assets 22,847,388.41 18,334,935.17 - 18,334,935.17Long Term260.000Assets·Present Value-Deferred Contrib. 658,311.99 773,700.99 773,700.99 Total Long Term Assets 658,311.99 773,700.99 - 773,700.99Fixed Assets205.000 · Computers 33,438.24 19,829.88 19,829.88 208.100 · Leaseholder Improv (T'ville Rd) 164,921.13 -211.000 · Furniture & Fixtures 132,880.79 94,079.70 94,079.70 230.000 · Accumulated Depreciation (210,977.51) (110,489.03) (110,489.03) Total Fixed Assets 120,262.65 3,420.55 3,420.55 -Other Assets258.100 · Accumulated Amortization (23,768.53) 258.000 · Lease Asset 142,611.19 250.100 · Surety Deposit (Thomasville Rd) 4,000.00 4,200.00 4,200.00 255.000 · Rec. re:Griffith Ins. Policy Estimated 97,750.00 97,750.00 97,750.00 257.000 · PFG Stock (273 shares @ $59.96) 16,369.08 16,369.08 16,369.08 Total Other Assets 118,119.08 237,161.74 118,319.08 -TOTAL UNRESTRICTED ASSETS 25,180,395.70 21,029,035.56 1,324,755.82 19,512,407.08Page 1 of 2Unaudited for Management Purposes Only
The Able Trust Balance Sheet As of June 30, 2022 June 30, 2021June 30, 2022 UNRESTRICTEDRESTRICTED RESTRICTEDPARTIALLY Private Endowments110.020·Pettengill Ability Fund 5.30 5.30 5.30 110.216 · McKeon Ability Fund 784,727.21 636,460.72 636,460.72 110.217 · Ward Ability Fund 617,559.36 430,563.22 430,563.22 110.215 · Hibbard Ability Fund 367,480.29 312,516.56 312,516.56 110.231 · Gallimore Ability Fund 629,885.72 557,399.00 557,399.00 110.232 · Thomas Ability Fund 874,102.07 771,372.30 771,372.30 110.233 · Pettengill Ability Fund 80,820.90 26,291.01 26,291.01 26,291.01 110.234 · LeRoy Ability Fund 166,668.76 145,199.88 145,199.88 Total Endowments 3,521,249.61 2,879,807.99 - 2,879,802.69 26,296.31 TOTAL ASSETS ANDENDOWMENTS 28,701,645.31 23,908,843.55 1,324,755.82 22,392,209.77 26,296.31 Managed Funds - as 106.000fiduciary·FSA-Employee PreTax Acct 400.07 -Total Managed Funds - as fiduciary 400.07 - - -TOTAL MANAGED FUNDS ANDASSETS RESTRICTED AND UNRESTRICTED 28,702,045.38 23,908,843.55 1,324,755.82 22,392,209.77 26,296.31 LIABILITIES & CurrentEQUITYLiabilities320.000·Accounts Payable 14,129.51 42,422.93 42,422.932110 · Direct Deposit Liabilities (1,606.83) 320.994-999 · Payroll Liabilities (105.24) 1,188.82 1,188.82 329.000 · Accrued Leave 20,950.00 20,950.00 20,950.00 321.000 · Unearned Revenue 50,000.00 50,000.00 50,000.00 Total Current Liabilities 84,974.27 112,954.92 42,422.93 72,138.82Deferred Inflow of 270.000Resources·Deferred Inflow of Resources 658,312.21 773,701.21 773,701.21 Total Deferred Inflow of Resources 658,312.21 773,701.21 - 773,701.21Managed Funds for 320.106Distribution·Employee PreTax Managed Funds 400.07Total Managed Funds for Distribution 400.07 - - -Long Term330.000Liabilities·Lease Liability 116,934.67 Total Long Term Liabilities 116,934.67 TOTAL LIABILITIES 743,686.55 1,003,590.80 42,422.93 845,840.03EquityRetained Earnings 1,436,077.48 5,084,098.20 690.000 · Fund Balance 22,860,187.63 22,860,187.63 Net Revenue 3,662,093.72 (5,039,033.08) Total Equity 27,958,358.83 22,905,252.75 - -TOTAL LIABILITIES & EQUITY28,702,045.38 23,908,843.55 Page 2 of 2Unaudited for Management Purposes Only
The Able Trust Budget FY2023 FY2021-22BudgetApproved FY2022-23BudgetProposed AmendmentsNotesProposed 1 Cash on Hand 2 Cash on Hand prior FY @ 6/30 462,199.06 710,066.00$ 710,066.00$ 3 Sinking Fund 434,062.59 421,354.30$ 421,354.30$ 4 Cash in Public Investment Accounts prior FY @ 6/30 222,061.62 222,061.62$ 222,061.62$ OrdinaryIncome/Expense 5 Endowments & Bequests 6 Endowment Contributions (Private Accounts) - -$ 7 New Funds - -$ 8 Managed Account Contributions 50,000.00 50,000.00$ 50,000.00$ 9 Fees Earned for Managing FamilyFunds (1.5%) 45,182.62 51,470.00$ 51,470.00$ 10 Grants 11 New Grants 20,000.00 100,000.00$ 100,000.00$ 12 Grants from prior period - -$ 13 Project-Based Revenue Sources 7,500.00 150,000.00$ 150,000.00$ 14 Sponsorships & Unrestricted Gifts 150,000.00$ 150,000.00$ 15 State Appropriations or Other Federal/State/Local Sources 549,823.00 799,823.00$ 799,823.00$ 16 Investment 17Investments:IncomeState Endowment1,800,000.00 1,555,483.00$ 1,555,483.00$ 18 Investments: Private Endowments 150,000.00 235,388.00$ 235,388.00$ 19Total Income3,740,828.89$ 4,445,645.92$ 4,445,645.92 20 Expense 21 DVR Support & Activities 22 DVR/Staff Events 48,000.00 48,000.00$ 60,000.00 VR Request 23 Business Engagement & CapacityBuilding 70,000.00 70,000.00$ 70,000.00$ 24 Grants, Support & Sponsorships 25 Grants 138,500.00 -$ 26 Managed Account Distributions $ 27 Donor Directed Grants 50,000.00 50,000.00$ 50,000.00$ 28 Sponsorships 10,000.00 20,000.00$ 20,000.00$ 29 Programs & Projects 30 Able Network (Business, Providers, & Educators) 50,000.00 -$ 31 High School High Tech - -$ 32 Grants to Sites 946,000.00 946,000.00$ 946,000.00
33 HS/HT Annual Training 20,000.00 30,000.00$ 30,000.00$ 34 Project Venture 6,000.00 25,000.00$ 25,000.00$ 35 HS/HT Educational Materials 1,000.00 1,000.00$ 1,000.00$ 36 HS/HT Supplies &Postage 1,000.00 1,000.00$ 1,000.00$ 37 HS/HT Travel 15,000.00 15,000.00$ 15,000.00$ 28 Young Professionals Network 1,000.00 -$ 39 DEAM (DisabilityEmployment Awareness Month) 2,000.00 25,000.00$ 25,000.00$ 40 Inclusive Florida -$ 41 Research/Data Analysis 120,000.00 100,000.00$ 100,000.00$ 42 Innovation Grants & Projects 250,000.00$ 250,000.00$ 43 Content Experts 50,000.00$ 50,000.00$ 44 Think Tank Expenses 20,000.00$ 20,000.00$ 45 Trainings & Events 20,000.00$ 20,000.00$ 46 2023 Summit Planning 20,000.00$ 20,000.00$ 47 Travel 20,000.00$ 20,000.00$ 48 Fundraising & Donor Development 200.00 250.00$ 250.00$ 49 Endowment Funds & Investment Management 50 Investment & Bank Account Charges 203,201.04 203,201.04$ 203,201.04$ 51 Marketing & Communications 52 Publications - -$ 53 Webinars 3,000.00 3,000.00$ 3,000.00$ 54 Website 25,000.00 8,500.00$ 8,500.00$ 55 Marketing & Support Materials 3,500.00 3,500.00$ 5,000.00 Added Reports 56 Marketing, PR, Communications - -$ 5,000.00 Paid Marketing 57 Board Related Expenses 58 Board & Committee Meetings 1,700.00 5,000.00$ 5,000.00$ 59 Board Retreats 10,000.00 12,000.00$ 12,000.00$ 60 CEO Program Management [see 413.615(9)j FS] 61 CEO Travel 10,000.00 15,000.00$ 24,000.00 $2k/month 62 CEO Memberships & Registrations 2,000.00 2,000.00$ 2,000.00$ 63 Operations & Overhead 64 Office 112,403.25 60,000.00$ 70,000.00 Office Renovations 65 State Storage Facility(or destruction) 3,000.00 1,000.00$ 1,000.00$ 66 Furnishings, Equipment & Software - -$ 67 Furniture - -$ 68 Computers & Equipment 4,900.00 6,000.00$ 6,000.00$ 69 Copier 1,900.00 3,000.00$ 3,000.00$ 70 Depreciation 4,500.00 4,500.00$ 4,500.00$ 71 Loss on Disposal/Fixed Assets - -$ 72 Software & Licenses 18,500.00 18,500.00$ 18,500.00$ 73 Insurances - non-health - -$ 74 BOP &Business Auto 6,376.57 6,567.87$ 6,567.87 75 Directors & Officers 2,500.00 2,575.00$ 2,575.00 76 ERISAbond-401K - -$ 77 LiabilityUmbrella 2,083.33 2,145.83$ 2,145.83 78 Worker's Compensation 2,213.00 2,279.39$ 2,279.39
79 Staff Memberships & Registrations 9,500.00 15,000.00$ 15,000.00$ 80 Staff Training & Development 2,000.00 8,000.00$ 8,000.00$ 81 Staff Travel & Outreach 20,000.00 30,000.00$ 48,000.00 82 Telephone & Internet 9,000.00 9,000.00$ 9,000.00$ 83 Printing & Mailing 2,000.00 2,000.00$ 2,000.00$ 84 Office Supplies 3,000.00 3,000.00$ 5,000.00 85 Staffing & Consultants 86 Salaries 622,750.00 730,000.00$ 730,000.00$ 87 Benefits - -$ 88 Health Insurance 60,278.17 64,497.64$ 64,497.64 89 Dental Insurance 4,270.29 4,569.21$ 4,569.21 90 Life Insurance 1,210.00 1,294.70$ 1,294.70 91 Short Term Disability/Long Term Disability 6,655.00 7,120.85$ 7,120.85 92 401(k) Match & Expenses 34,070.58 36,455.52$ 36,455.52 93 Payroll Taxes & Expenses 62,549.38 66,927.84$ 66,927.84 94 Payroll Processing Fees 1,200.00 1,200.00$ 1,200.00 95 Consultants & Contractors - -$ 96 Finance &Record-keeping 70,000.00 70,000.00$ 70,000.00$ 97 Grant Writing - 30,000.00$ 48,000.00 99 Audit &Tax 29,950.00 29,950.00$ 29,950.00$ 100 IT Support 7,500.00 12,000.00$ 12,000.00$ 101 Lobbying 35,000.00 50,000.00$ 72,000.00 102 Legal 2,500.00 2,500.00$ 2,500.00$ 103 Total Expense 2,878,910.61 3,243,534.89$ 3,341,034.89 $87,500 Additional 104 Expenditures 105 Net OrdinaryIncome 861,918.00 1,202,111.03$ 1,109,611.00
Proposed FY2023 Board Meetings September 15, 2022 – Online December 6, 2022 – Online Late March/Early April 2023 – In-Person Retreat in conjunction with HSHT Conference & Project Venture, Tampa June 1, 2023 - Online Proposed FY2023 Committee Meetings August 2022 November 2022 February 2022 May 2022
The Able Trust Board Matrix Location Yes No Notes Pensacola/WFL X Navy Federal Interest Tallahassee X Lori Fahey, Brent McNeal Jacksonville X Gainesville X Space Coast X Orlando X Chip Byers, Doug Hilliard Tampa Bay X Alexis Doyle, Todd Jennings SWFL X SFL (Tri County) X Mavara Agrawal (Broward), Laurie Sallarulo (Broward) FPL Interest (Palm Beach), PNC Interest (Broward) Industry Yes No Notes Aviation & Aerospace X Cleantech X Defense & Homeland Security X Financial & Professional Services X Headquarters (Fortune 500) X Current Applicant (NextEra Energy) Information Technology X Life Sciences X Logistics & Distribution X Manufacturing X Fortune 500 Headquarters in Florida World Fuel Services, Miami — No. 83 Tech Data, Clearwater — No. 88 Publix Super Markets, Lakeland — No. 91 Jabil, St. Petersburg — No. 140 AutoNation, Fort Lauderdale — No. 145 Lennar, Miami — No. 154 WellCare Health Plans, Tampa — No. 155 NextEra Energy, Juno Beach —No. 184 CSX, Jacksonville — No. 260 Office Depot, Boca Raton — No. 285 Hertz Global Holdings, Estero — No. 331 Rockwell Collins, West Palm Peach — No. 350 Fidelity National Information Services, Jacksonville — No. 361 Ryder System, Miami — No. 363 Darden Restaurants, Orlando — No. 376 Fidelity National Financial, Jacksonville — No. 402 Raymond James Financial — No. 407 MasTec, Coral Gables — No. 436 Harris, Melbourne— No. 474
The average Foundation President salary in Florida is $171,020 as of June 28, 2022, but the range typically falls between $134,890 and $223,860. Salary ranges can vary widely depending on the city and many other factors, including education, certifications, additional skills, the number of years spent in the profession. (Salary.com)
Description of the Process
President & CEO Annual Performance Evaluation Process
4. Directors or Committee members meet to decide what to emphasize in their feedback to the CEO. The Board or Committee also review the CEO’s proposed goals for the coming year, makes any modifications, and approves them.
5. The Chair and other member of the Board (Committee) meets personally with the CEO to discuss evaluation results.
3. The Chair collects the evaluations from all reviewers and presents a summary to the Board or Committee for approval.
1. President & CEO completes a self-evaluation using the same questions as the board.
2. The Board (or Executive Committee) completes the evaluation questions using the President & CEO’s self-evaluation, senior management’s evaluation of the CEO, and the CEO’s proposed goals for the coming year.
President & CEO Performance Evaluation Questions Please be as thorough as possible in describing Allison’s performance. 1. In what ways did Allison excel this past year? 2. In what areas can Allison improve in the coming year? 3. Did Allison move the organization forward in terms of mission, resources, public attention, and role as the direct support organization to VR? 4. How are the relationships between the full board and Allison and between the executive committee and Allison? 5. What goals should Allison have for the coming year?