2017 Seminole Boosters Stewardship Report

2017 ANNUAL STEWARDSHIP REPORT SEMINOLE BOOSTERS, INC.

Seminole Boosters, Inc. is responsible for engaging fans, alumni, and loyal supporters of FSU in order to generate financial contributions to better the lives of our Student-Athletes. Your support ensures the Seminole legacy lives on and grows – through the talented Student-Athletes who are able to train in elite facilities, learning opportunities and experiences FSU provides, and the ability you give them to prepare for success later in life. As a contributor, you send a perpetual message of your values to both current and future generations of Seminoles who will directly benefit from your generosity.

Thank you for investing in the future of our Student-Athletes and in our great University.

2 The financial aspect of intercollegiate athletics seems to have been in the spotlight for most of the past five years. Most recently, the impending launch of the ACC’s linear network and recent federal tax changes mean the focus will continue.

What may surprise even our most ardent supporters is the educational component remains the largest single annual expense athletics faces. Tuition, room, board and books for the 399 scholarships we offer is both our largest and most important financial outlay.

STAN WILCOX Vice President and Director of Athletics

Each time I have an opportunity to speak to our Student-Athletes I implore them to maximize every educational opportunity our preeminent University affords them, and I am pleased to share the clear majority of them do. Earlier this year former FSU football Student-Athlete, Rhodes Scholarship winner and FSU Medical School graduate Myron Rolle M.D. was honored in Orlando as part of their Black History Gala. He epitomizes our goal of producing alumni who excel once their athletic careers are over.

While maximizing the educational opportunities for our Student-Athletes will always be our top priority, it is also essential the facilities in which they train and compete are first-class in every way. Our Seminoles spend countless hours in our medical facilities, weight rooms and team areas as well as the locker rooms and their competition sites. Providing and maintaining state-of-the-art amenities is critical to the success of our programs.

Your contributions aid in growing the endowment for athletic scholarships and funding the facilities that allow us to provide our Student-Athletes every opportunity to be successful.

It is the most important thing we do, above all else. Thank you for your role in producing individuals who make a difference and make the world a better place. With your help, we will remain steadfast in that mission.

GARY THURSTON Chairman of the Board, Seminole Boosters, Inc.

In order to achieve our mission as a University, we as a community must provide as much financial support as possible. By doing so, we are able to prepare these Student-Athletes for the challenges they’ll face on the field and in the classroom, and give them the necessary tools to succeed later in life. As we reach the final months of the Champions Campaign, it is imperative to maintain the current level of momentum and commitment to reach our ambitious goals of building and renovating our facilities and fully endowing our scholarship program. It’s not just what we do, but why and how we do it, that distinguishes us as Seminoles.

3 No Student-Athlete achieves success completely on his or her own. There is an entire “team” around us - providing “behind the scenes” support and encouragement. Thank you Seminole Boosters. Your support transforms the dreams of our past into the successes of today, creating a vision for tomorrow.

TERANCE MANN Men’s Basketball Words cannot describe what it means to represent The Florida State University and its multifaceted constituents. It is an absolute honor to be able to confidently wear garnet and gold and portray what it means to be a True Seminole. I am beyond blessed and thankful for my scholarship and the facilities that are made available to all Student-Athletes. My scholarship is not just important to me, it is important to my family and friends who stand behind me 100% in all of my endeavors. We recognize the opportunity I have been blessed with and we all work extremely hard every day to ensure I do not squander this gift. Beyond my family and friends, my scholarship is also important to the Seminole community because it allows me to uphold the ideals of Seminoles of the past, present and future. Boosters, thank you all so much for what you have provided, not only myself, but to all Student-Athletes! Without your contributions, all we do would be nearly impossible.

MICHAEL HALL Cross Country/Track & Field

I have been given the opportunity of a lifetime to play the sport I love at a prestigious university. The opportunities I have been presented with have helped me secure a very bright future. Thank you Seminole Boosters; it’s because of your incredible generosity that the future of every Student-Athlete at Florida State has no limits.

GABBY CASTANEDA Women’s Tennis

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A Year In Review O U R S T U D E N T- AT H L E T E S

108 on the

25

294

on the

DEAN’S LIST

PRESIDENT’S LIST

(3.5 or higher in 12 graded hours)

(4.0 GPA in 12 graded hours)

with a 3.0 or above

SEMESTER GPA

FOR THE ACADEMIC YEAR

252 STUDENT-ATHLETES

12 TEAMS

2016-2017 THE

MADE THE

STUDENT-ATHLETES SERVED 6,141 HOURS

ACC HONOR ROLL

ABOVE A 3.0 (ALL WOMEN’S TEAMS ABOVE A 3.0 GPA)

OF COMMUNITY OUTREACH

76

INTERNATIONAL STUDENT-ATHLETES

with 33 countries represented

46

$10,581,492

FIRST

Scholarship Dollars awarded in 2017

GENERATION

STUDENTS

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A Year In Review SEMINOLE BOOSTERS, INC

Fiscal Year 2016-2017

Supporting Services $5,918,017

EXPENSES AS OF JUNE 30, 2017

Interest Expense $5,411,582

Scholarship Pledges $2,811,270

Scholarship Payments $2,232,858

$73,671,439 Nonperforming Pledges $10,063,819 Program Services $52,278,021

Facility Pledges $12,831,871

Facility Payments

Investment Income $8,643,752

$7,168,848

Planned Gift Pledges

Royalties $3,956,866

Charges for Services $10,193,213

Other Revenues $7,909,533

$4,370,000 Skybox & Club $7,645,990

527 Donors

GAVE TO 83 SCHOLARSHIPS

448 Donors

GAVE TO 20 FACILITY PROJECTS

Rent Income Stadium Lease $1,850,000

Contributions $35,708,743

REVENUES AS OF JUNE 30, 2017 $75,908,097

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2017

Endowment Report

Florida State’s endowment is ever-growing and consists of 606 funds that ensure the financial stability of the Athletic Department. The contributions from those 606 funds are invested collectively through Seminole Boosters, Inc. and a portion of the total earnings is transferred each year to help cover the cost of our athletic scholarships. These funds help Florida State Athletics maintain a competitive edge in attracting and retaining top Student-Athletes and enable our programs to continue to grow and enrich the lives of all Student-Athletes who step foot on our campus.

Total Endowment on June 30, 2017 • $63.0M

D O L L A R S IN MIL L IO NS

65

60

55

50

45 2013

2014

2015

2016

2017

FISCAL YEARS (JULY 1 - JUNE 30)

The chart above represents the fair market value of the endowment for each fiscal year over a five year period. As of June 30, 2017 the Seminole Boosters, Inc. Athletic Scholarship Fund consisted of a total of 606 endowments. The total market value of the endowment accounts on June 30, 2017 was $63.0 million.

Total Endowment Activity Financial Statement July 1, 2016 – June 30, 2017

Market Value at 7/1/16

$54,741,426

Total Gifts Received

$2,232,858

Net Appreciation

$8,604,237

Net Expenditures

-$2,544,504

Market Value at 6/30/17

$63,034,017

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2016-2017 Endowment Highlights Fiscal Year 2016-2017: The Seminole Boosters Athletic Scholarship Endowment increased by $8.3 million to $63.0 million.

Seminole Boosters, Inc. provided a total of $10.6 million in 2017 for Athletic Department Scholarships, with $1.0 million coming directly from the Seminole Boosters Athletic Scholarship Endowment.

In the past five years: The Seminole Boosters Athletic Scholarship Endowment asset value increased by $13.1 million.

Over the five year period ending June 30, 2017 Seminole Boosters, Inc. provided a total of $51.1 million for Athletic Department Scholarships, with $8.1 million coming directly from the Seminole Boosters Athletic Scholarship Endowment.

Deferred Giving: This endowment report is reflective of current assets under management. Any deferred commitments towards the endowment are currently recognized in the Custodes Lampadis Society and will not receive endowment reports or be included in the endowment total until realized.

Real Estate: Endowment real estate was appraised during the 2017 fiscal year and all changes in value have been recorded.

GLOSSARY OF TERMS RELATED TO FINANCIAL SUMMARY Market Value of Endowment: Value of the endowment at a point in time.

Total Gifts Received: The sum of gifts received for the fiscal year ending June 30, 2017.

Net Appreciation: The realized and unrealized gains and losses earned by the Seminole Boosters Athletic Scholarship Endowment Fund for the fiscal year ending June 30, 2017.

Net Expenditures: The expenditures and Seminole Boosters, Inc. administrative fee paid for the fiscal year ending June 30, 2017.

From July 1, 2016 until June 30, 2017, more than $2.8 million was pledged specifically to help grow our endowment with just over $2.2 million in contributions collected. The following people have made significant contributions to our endowment program during the 2016-2017 fiscal year: Sunshine Gasoline Distributors, Inc.

The Summey Family

Kevin and Angela Hawkins

The Vengel Family

John L. Holcomb

Richard & Christine Welch

Moises Issa

James and Annette Williams

Kalenich and LaMay Family For information about this report, please contact: JP Sinclair • Chief Financial Officer at Seminole Boosters, Inc. 225 DeVoe L. Moore University Center • Suite C-5100 • Tallahassee, FL 32302 850.644.6595 • jpsinclair@fsu.edu • SeminoleBoosters.com

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Facilities Update R E C E N T LY C O M P L E T E D P R O J E C T S Through private funding provided through Seminole Boosters, the Florida State University Athletic Department has recently made several investments in athletic facilities that directly impact our Student-Athletes’ ability to train and compete for championships. These facilities include but are not limited to: Renovation of the football coaches offices and locker room as well as the creation of the Parrish Owens Players Lounge, renovations to the men’s and women’s basketball facilities at the Tucker Center, brand new HD scoreboards and video boards for baseball and volleyball. These facilities will allow our Student-Athletes to train every day in an environment that fosters learning, growth, and achieving greatness.

The Parrish Owens Players’ Lounge

The Craig Mateer Men’s Basketball Locker Room

New Scoreboard at Dick Howser Stadium

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What’s Next Looking ahead, Seminole Boosters and the Athletic Department are currently focusing on the next round of priority projects.

These initiatives include the football operations strategic investment, transformation of the Don Veller Golf Course to the firstever Nicklaus Legacy Course in North America, additional improvements at the Tucker Center including the creation of lounges and meeting rooms for the men’s and women’s basketball team and the master plan renovations at historic Dick Howser baseball stadium. These projects will elevate our ability to compete at the next level and achieve national recognition.

COLLECTIVELY REPRESENTING MORE THAN $70 MILLION, THIS WILL BE ONE OF THE LARGEST INVESTMENTS EVER MADE IN FACILITIES PRIMARILY FOR OUR STUDENT-ATHLETES.

Flaumenhaft Players Lounge

Proposed Renovations to Dick Howser Stadium

Seminole Golf Course

In the past year, more than $12.8 million was pledged to make these and other facility projects happen, with over $7.2 million in contributions collected. We thank our supporters who share a passion for these sports and helped us make this investment in current and future Seminoles. The following contributors have made significant investments specifically to facility projects during the 2016-2017 fiscal year: David and Mary Bellamy Ed and Billie Jo Burr Al & Judy Dunlap Bob & Deb Frey The Ghazvini Family Dr. Herb & Mary Jervis

Mark & Patricia Macek Jim Owens Bill & Kelly Pfeiffer Family John and Janie Robinson The Shaver Family Bill, Tammy, Will, and Becca Stephenson

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Planned Giving Guardians of the torch, from the Latin custodes lampadis, or, more liberally, “defenders of the flame,” designates a select corps of individuals within the University’s sphere.

The Custodes Lampadis Society was established to preserve intercollegiate athletics at Florida State University, and to ensure future generations of young men and women Student-Athletes are provided an opportunity to obtain a worldclass education. This is one of the most exclusive of all Seminole Boosters affiliations, as it is comprised of those who engage in the nobility of projecting their love for the University beyond the horizon of their own mortality.

Most society members specify their gifts for athletic scholarships, and these gifts will be placed in the Endowed Scholarship Fund. Only the interest earned from the Endowment Fund is used, making their gift one that will give in perpetuity. Gifts made for facilities and development will be placed in the Florida State Athletic Fund.

Both endowed scholarship gifts and athletic fund gifts can be designated by sport, and bear the donor’s name or in the name of someone of the donor’s choosing.

Any person who makes an estate gift to Seminole Boosters, Inc., will gain entrance into this prestigious society. Society membership is not dependent upon the size or type of estate gift.

Since its founding in 1995, the Custodes Lampadis Society has welcomed and recognized more than 275 donors who will be making a difference beyond their lifetime. These supporters are a vital source for Florida State Athletics and will eventually become a consistent flow of revenue that will help support the program.

The following chart outlines the various vehicles our donors can use when creating their estate plans:

Bequests - beneficiary in a will or trust

Charitable Remainder Trusts

A percentage of an estate or a specific gift dispersed upon a donor’s death as outlined in estate document.

Assets placed inside an irrevocable trust generating a tax deduction, mitigating tax on appreciated assets, and generating income for a donor for life or a period of time with the remainder benefiting Seminole Boosters.

Life Insurance Gifting a fully funded policy or the naming as a beneficiary of a life insurance policy.

Charitable Gift Annuities A simple tax favored agreement that pays income to an annuitant for their lifetime with the remainder left to Seminole Boosters.

Retained Life Estates A tax favored gift of property that allows the donor to retain sole access and use of the property through their lifetime.

IRA - beneficiary The naming of a charity as a beneficiary of a qualified retirement plan while leaving more tax advantaged assets to loved ones.

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Planned Giving LIFETIME PLANNED GIVING COMMITMENTS THROUGH JUNE 30, 2017 Real Estate $1,117,368 Life Insurance $819,300 Charitable Remainder UniTrust $6,179,602 Charitable Remainder Annunity Trust $1,229,000 Charitable Lead Annunity Trust $1,661,162

TOTAL PLANNED GIFTS $135,185,725

Charitable Gift Annunity $987,400 Bequest Gifts $118,073,769

In 2017, Seminole Boosters, Inc. received commitments for more than $4.1 million from donors through their estates. The following Seminoles have committed to leave a lasting legacy through their planned giving: David and Jana Bonderud Connie L. Garrett Philip & Jerrilyn Griffitts Dianne Murphy Oliver Puhr Marjorie Claire Rendina

Alex and Denise Salabarria Ron Sellers David and Kiki Slaton Terry & Valerie Smith James & Connie Warren

Executive Staff Andy Miller President and CEO

Jerry Kutz Senior Vice President of Capital Campaigns & Projects

Derril Beech Vice President of Marketing and Annual Giving

JP Sinclair Chief Financial Officer

Eric Carr Senior Vice President for Central Florida

Kari Terezakis Vice President of Stewardship & Fundraising Advancement

Mike Dasher Senior Vice President of Development

Ben Zierden Senior Vice President of Operations

Greg Hulen Executive Vice President

Executive Committee Gary Thurston Ocala, FL | Chairman

Stan Wilcox Tallahassee, FL | Vice President & Director of Athletics

Doug Russell Tallahassee, FL | Chairman-Elect

Nylah Thompson Plant City, FL | Immediate Past Chair

John Crowe Tallahassee, FL | Secretary

David Rancourt Champions Gate, FL | 2nd Immediate Past Chair

Bob Davis Orlando, FL | Treasurer

Bob Frey

Brentwood, TN | At-Large Member

Tom Jennings Tallahassee, FL | Vice President for University Advancement

Jimmy Graganella Tallahassee, FL | At-Large Member

Ed Burr

Jacksonville, FL | Chairman of the Board of Trustees

Kris Inchcombe St Augustine, FL | At-Large Member

Board of Directors Diana Azor Pembroke Pines, FL Byron Bailey Lakeland, FL Lance Barton Tampa, FL WO Bell Tallahassee, FL Yvonne Brown Tallahassee, FL Kevin Carpenter Jacksonville, FL Eleanor Connan Tallahassee, FL Clif Curry Brandon, FL Bill Dawkins Atlanta, GA Mary Demetree Winter Park, FL Chris Diamantis Tallahassee, FL Doug Dunlap Tallahassee, FL Linda Dupree Panama City Beach, FL Don Everett Perry, FL Alan Flaumenhaft Orange, CT

Eric Friall Tallahassee, FL Ernie Garcia Sarasota, FL Bill Hagen Tallahassee, FL Kevin Hawkins Belleair, FL Dan Hendrix Atlanta, GA Nan Hillis Tallahassee, FL Bob Johnson Irving, TX Marice Leo Kinnelon, NJ Shane Locke Windermere, FL Craig Lynch Charlotte, NC Mark Macek Pompano Beach, FL Scott Madden Atlanta, GA John McCann Tallahassee, FL Richard McMullen Tallahassee, FL Brian Murphy Tampa, FL

Dennis Newman Ft Lauderdale, FL Parrish Owens Rome, GA Warner Peacock Hardeeville, SC Pamela Perrewe Tallahassee, FL Scott Roix Largo, FL Mark Shelnutt Ocala, FL Delores Spearman Rockledge, FL Bill Stephenson Ponte Vedra Beach, FL Larry Strom Tallahassee, FL Mike Summey Asheville, NC Nada Usina Flagler Beach, FL Jesse Vance Bradenton, FL Wade Wallace Saint James City, FL Richard Welch Ft Lauderdale, FL

SEMINOLE BOOSTERS, INC. 225 DeVoe L. Moore University Center, Suite C-5100 • Tallahassee, Florida 32306 (850) 644-3484 • (850) 222-5929 fax • SeminoleBoosters.com