FLORIDA STATE UNIVERSITY ATHLETICS… - Form 990 Financial Data

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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

2016

Legal Domicile

Principal Officer

MICHAEL ALFORD

Phone

8506442062

Tax Period

2023-07-01 to 2024-06-30

FLORIDA STATE UNIVERSITY ATHLETICS ASSOCIATION INC, founded in 2016, is a mid-sized nonprofit in the Recreation & Sports sector that reported $42.9M in total revenue in fiscal year 2023. Revenue surged 3085% from the prior year, signaling strong growth momentum. The organization ran a surplus of $42.8M, a strong 100% operating margin.

Mission

FSU ATHLETIC ASSOCIATION WAS CREATED AS A NOT-FOR-PROFIT ORGANIZATION TO STIMULATE AND PROMOTE THE EDUCATION, HEALTH, AND PHYSICAL WELFARE OF THE STUDENTS OF FLORIDA STATE UNIVERSITY BY PROVIDING FINACIAL SUPPORT FOR THE INTERCOLLEGIATE PROGRAM AT FSU.

Program Service Accomplishments

Program 1

Expenses: $44,046

THE ASSOCIATION ASSISTS THE UNIVERSITY WITH THE TERMINATION BENEFITS RECEIVED BY RECENTLY TERMINATED ATHLETIC COACHES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $42,865,748

Program Service Revenue $0

Investment Income $18,951

Other Revenue $0

TOTAL REVENUE $42,884,699

Expense Breakdown

Grants Paid $44,046

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $44,046

Other Expenses $1,260

TOTAL EXPENSES $45,306

Year-over-Year Comparison

	2023	2022	Change
Revenue	$42,884,699	$1,346,549	+30.8%
Expenses	$45,306	$343,339	-0.9%
Net Income	$42,839,393	$1,003,210	+41.7%

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

N/A

Volunteers

N/A

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

$3,385,440

Total Directors

$3,206,967

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD MCCULLOUGH	BOARD CHAIR	1.00	Officer Director	$0	$278,897	$1,644,648
DOUGLAS WALKER	VICE PRESIDENT	1.00	Officer Director	$0	$13,925	$108,382
ROSS COBB	TREASURER	1.00	Officer Director	$0	$34,256	$193,588
CINDY HARTMANN	SECRETARY	1.00	Officer Director	$0	$47,974	$347,569
PETER COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
DR MICHAEL BRADY	DIRECTOR	1.00	Director	$0	$49,342	$421,784
CHARLIE DUDLEY	DIRECTOR	1.00	Director	$0	$0	$0
DR ALMA LITTLES	DIRECTOR	1.00	Director	$0	$54,740	$490,996
MICHAEL ALFORD	CEO	1.00	Officer	$0	$54,805	$1,091,253

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	No data	No data	No data	No data
2024	$42,884,699	$45,306	$93,645,040	$42,839,393
2023	$1,346,549	$343,339	$12,645	$1,003,210
2022	$2,941,679	$65,622	$2,180,336	$2,876,057
2021	$3,743,670	$78,911	$2,779,844	$3,664,759
2020	$683,621	$14,990,274	$4,652,418	$-14,306,653
2019	$197,045	$3,635,936	$6,441,440	$-3,438,891
2018	$14,914,313	$7,016,817	$10,914,313	$7,897,496

FLORIDA STATE UNIVERSITY ATHLETICS ASSOCIATION INC