FLORIDA CITRUS SPORTS EVENTS INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

Principal Officer

STEVEN J HOGAN

Phone

4074232476

Tax Period

2024-04-01 to 2025-03-31

FLORIDA CITRUS SPORTS EVENTS INC, founded in 1990, is a mid-sized nonprofit in the Recreation & Sports sector that reported $17.9M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $17.3M left a modest 3% surplus.

Mission

TO DEVELOP AND MANAGE WORLD-CLASS ATHLETIC COMPETITIONS AND SUPPORTING EVENTS THAT CONTRIBUTE TO THE MOTIVATION AND ENJOYMENT OF CENTRAL FLORIDA SPORTS FANS, INCREASE COMMUNITY PRIDE AND STIMULATE THE LOCAL ECONOMY; WHILE BENEFITTING CHARITIES, EDUCATIONAL INSTITUTIONS AND THE FLORIDA CITRUS SPORTS FOUNDATION.

Program Service Accomplishments

Program 1

Expenses: $12,618,184 Revenue: $16,603,944

FLORIDA CITRUS SPORTS EVENTS (FCSE) PROVIDES THE MANAGEMENT AND THE ADMINISTRATIVE SUPPORT FOR THE ANNUAL POP-TARTS BOWL AND CHEEZ IT CITRUS BOWL GAMES, WHICH ARE HOSTED BY THE RELATED TAX-EXEMPT...

FLORIDA CITRUS SPORTS EVENTS (FCSE) PROVIDES THE MANAGEMENT AND THE ADMINISTRATIVE SUPPORT FOR THE ANNUAL POP-TARTS BOWL AND CHEEZ IT CITRUS BOWL GAMES, WHICH ARE HOSTED BY THE RELATED TAX-EXEMPT ORGANIZATIONS TANGERINE SPORTS ASSOCIATION, INC. AND FLORIDA CITRUS SPORTS ASSOCIATION, INC., AND THE FLORIDA CLASSIC (HBCU COLLEGE FOOTBALL GAME). THESE EVENTS PROVIDE NATIONAL EXPOSURE TO THE CENTRAL FLORIDA COMMUNITY, WHILE GENERATING OVER $100 MILLION OF ECONOMIC IMPACT FOR THE REGION. FROM THE REVENUES GENERATED BY THE TWO BOWL GAMES, THE FOUR UNIVERSITIES PARTICIPATING RECEIVED A PAYOUT IN 2024, TOTALING $14.43 MILLION. FCSE ANNUALLY MANAGES THE FLORIDA CLASSIC FOR BOTH FLORIDA A&M AND BETHUNE-COOKMAN UNIVERSITY. IN 2024, THE EVENT MANAGED TO PRODUCE $2.811 MILLION OF TOTAL REVENUE FOR THE SCHOOLS TO SHARE DUE TO PARTNER SUPPORT AS WELL AS FUNDRAISING EFFORTS.FCSE IS A MEMBERSHIP BASED ORGANIZATION WHOSE MEMBERS VOLUNTEER THEIR TIME TO THE ORGANIZATION AND THUS THE CENTRAL FLORIDA REGION YEAR-ROUND. 200 MEMBERS VOLUNTEERED TO SERVE AS EVENT DAY STAFF, BOWL SCOUTS, COMMITTEE MEMBERS AND/OR DONATED THEIR TIME TO THE FLORIDA CITRUS SPORTS FOUNDATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $396,807

Program Service Revenue $16,590,225

Investment Income $700,856

Other Revenue $180,048

TOTAL REVENUE $17,867,936

Expense Breakdown

Grants Paid $1,132,811

Salaries & Benefits $6,094,553

Fundraising Expenses $2,152,157

Program Expenses $12,618,184

Other Expenses $10,086,621

TOTAL EXPENSES $17,313,985

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,867,936	$31,882,952	-0.4%
Expenses	$17,313,985	$29,813,784	-0.4%
Net Income	$553,951	$2,069,168	-0.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

106

Volunteers

150

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,163,561

Total Directors

Key Employees

$868,644

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON LINE-CLARY	PRESIDENT	0.10	Officer Director	$0	$0	$0
STEVEN CASTINO	CHAIRMAN	0.10	Officer Director	$0	$0	$0
BRIAN COMES	PRESIDENT-ELECT	0.10	Officer Director	$0	$0	$0
ED DOUGHERTY	PAST CHAIRMAN	0.10	Director	$0	$0	$0
WAYNE SHEFFIELD	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
JOE DOHER	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
DOUG GEHRET	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
JIM HUNTER	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
TONY JENKINS	SECRETARY	0.10	Officer Director	$0	$0	$0
JOHN RIVERS	TREASURER	0.10	Officer Director	$0	$0	$0
PAUL MEARS III	PAST CHAIRMAN	0.10	Director	$0	$0	$0
JOHN ARIE JR	DIRECTOR	0.10	Director	$0	$0	$0
ADAM BALL	DIRECTOR	0.10	Director	$0	$0	$0
KIRT BOCOX	DIRECTOR	0.10	Director	$0	$0	$0
SCOTT CATHCART	DIRECTOR	0.10	Director	$0	$0	$0
KAREN CONNORS	DIRECTOR	0.10	Director	$0	$0	$0
KEVIN DARRENKAMP	DIRECTOR	0.10	Director	$0	$0	$0
TOM EWING	DIRECTOR	0.10	Director	$0	$0	$0
ELISHA GONZALEZ	DIRECTOR	0.10	Director	$0	$0	$0
HEATHER HOYTINK	DIRECTOR	0.10	Director	$0	$0	$0
JUSTIN KINSEY	DIRECTOR	0.10	Director	$0	$0	$0
DAN KIRBY	DIRECTOR	0.10	Director	$0	$0	$0
CLIFFORD LONG	DIRECTOR	0.10	Director	$0	$0	$0
GEORGIA LORENZ	DIRECTOR	0.10	Director	$0	$0	$0
JOAQUIN MARTINEZ	DIRECTOR	0.10	Director	$0	$0	$0
STEVEN MCCRANEY	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT NORBY	DIRECTOR	0.10	Director	$0	$0	$0
BRIAN OSBURN	DIRECTOR	0.10	Director	$0	$0	$0
ALEJANDRO PEZZINI	DIRECTOR	0.10	Director	$0	$0	$0
WOODY RODRIGUEZ	DIRECTOR	0.10	Director	$0	$0	$0
ERIK SANKEY	DIRECTOR	0.10	Director	$0	$0	$0
KARL SCHMIDT	DIRECTOR	0.10	Director	$0	$0	$0
GREG SPENCER	DIRECTOR	0.10	Director	$0	$0	$0
ALLEN JOHNSON	DIRECTOR	0.10	Director	$0	$0	$0
STEVE HOGAN	CEO	10.00	Officer	$854,642	$41,668	$896,310
SIMON DOVER	CFO	10.00	Officer	$238,978	$28,273	$267,251
SHANNON CLARK	CCO	10.00	Key Emp	$295,238	$23,595	$318,833
MATTHEW REPCHAK	CMO	10.00	Key Emp	$273,078	$21,237	$294,315
GABRIEL PARK	EVP BUSINESS DEV	10.00	Key Emp	$226,648	$28,848	$255,496
JOE ANDRADE	SVP TICKET SALES	10.00	Highest	$139,713	$20,474	$160,187
CHRISSY ELLIOTT	EVP EVENT OPS	10.00	Highest	$148,318	$18,131	$166,449
BRIAN CREWS	SR DIR BUSINESS DEV	10.00	Highest	$121,256	$19,613	$140,869
MICHELLE SHELDON	SVP TICKET OPS	10.00	Highest	$120,031	$37,989	$158,020
NICHOLAS STEP	FINANCE DIRECTOR	10.00	Highest	$118,501	$15,605	$134,106

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$17,867,936	$17,313,985	$29,848,588	$553,951
2024	$31,882,952	$29,813,784	$31,874,956	$2,069,168
2023	$17,176,506	$16,126,875	$25,194,320	$1,049,631
2022	$14,111,866	$12,248,044	$20,810,010	$1,863,822
2021	$7,613,777	$7,128,590	$17,473,118	$485,187
2020	$23,755,349	$22,462,176	$16,728,742	$1,293,173
2019	$20,616,561	$19,395,631	$17,532,763	$1,220,930
2018	$12,990,691	$12,190,592	$14,419,082	$800,099