2024-08-26T13:07:42-05:00 2023-12-31 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2023-01-01 596522982 BOY SCOUT TRUST FUND FOR THE CENTRAL FL COUNCIL BOY SCOUTS OF AMERICA INC BOYS 4078894403 1951 S ORANGE BLOSSOM TRL 102 APOPKA FL 32703 ERIC MAGENDANTZ CEO/SCOUT EXECUTIVE 4078894403 2024-08-26 1 0 KURT A ALTER CPA P00059492 4077405400 2023 2024-08-08 14:25:15Z ERIC MAGENDANTZ 1951 S ORANGE BLOSSOM TRL 102 APOPKA FL 32703 153185 0 1761 X N/A X 1950 FL TO PROMOTE AND BENEFIT BOY SCOUT WORK IN CENTRAL FLORIDA. 58 57 0 57 0 0 97417 13099 0 0 -234911 140086 0 0 -137494 153185 0 0 0 0 0 0 0 0 0 10714 11141 10714 11141 -148208 142044 1216051 1296419 0 0 1216051 1296419 THE TRUST FUND WAS ESTABLISHED FOR THE BENEFIT OF CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC. IN SUPPORT OF ITS MISSION TO PROVIDE SCOUTING ACTIVITIES IN THE CENTRAL FLORIDA TERRORITY. 0 0 11141 THE TRUST FUND SUPPORTS CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC., WHICH PROVIDES SERVICE TO YOUNG MEN AND WOMEN AGES 6-20 IN EIGHT DISTRICTS IN CENTRAL FLORIDA. IT PROVIDES EDUCATIONAL PROGRAMS FOR YOUNG PEOPLE TO DEVELOP THEIR SKILLS, PROMOTE FITNESS AND TRAIN IN RESPONSIBILITIES. 11141 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 58 57 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X BB&T RETIREMENT AND INSTITUTIONAL SERVICES 4078894403 PO BOX 2887 WILSON NC 278942887 ERIC MAGENDANTZ EXECUTIVE DIRECTOR 0.20 60.00 X X 0 302697 0 WILLIAM PATTERSON COUNCIL PRESIDENT 4.00 8.00 X X 0 0 0 JEFFREY JENNINGS CHAIRMAN OF THE BOARD 4.00 8.00 X X 0 0 0 GARRETT MILLER VICE PRESIDENT OF DEVELOPMENT 4.00 6.00 X X 0 0 0 GIORGINA PINEDO ROLON PHD VICE PRESIDENT OF DIVERSITY 4.00 6.00 X X 0 0 0 ROBERT WAHLERS MS CFRE VICE PRESIDENT OF MAJOR GIFTS 4.00 6.00 X X 0 0 0 MONIQUE WALDROP VICE PRESIDENT OF MARKETING/PR 4.00 6.00 X X 0 0 0 JEFFREY BROOMELL BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 HOMER VANTURE BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 HAROLD LONG BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 KARL PALVISAK BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 WILLIAM RUFFIER BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 THOMAS WILLIAMS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN BEACHAM BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 REGINE BONNEAU BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 STEVE BUERY BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 LESLIE CAMPIONE BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 RICHARD COAXUM BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 BILL COWLES BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JACK DEMETREE BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 SUSIE DOLAN BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 ERIC EALY BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN GILMORE BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 RODNEY GRABOWSKI BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 CHRISTOPHER GROVE MD BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 GUY HAGGARD BCS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 KIRK HALL BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 PEGGY HALL BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 DANIEL HARDIMAN BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 CHRISTOPHER HAYES BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 DARREN HINSHAW BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 AMY IENNACO BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN JENNINGS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 MICHAEL JENNINGS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 MIKE JOHNSON BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JEFFERY JONASEN BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 FRED KITTINGER BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JEFFREY KOSIK BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 DENNIS LEMMA BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN LOVEJOY III MD BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JAMES MCKNIGHT BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 GEORGE MIKITARIAN BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN MINA BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 HANK MINOR BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 MIKAELA NIX-WALKER BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JERMAINE PATTERSON BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 TICO PEREZ BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 GREGORY RAYMOND BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JAMES SEEGERS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JOHN SOAPES BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 JAMES STRATFORD BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 ROBERT TERRY BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 AUSTIN THACKER BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 BRAD VALDYKE BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 ERIK WEINER BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 LEN WILLIAMS BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 THOMAS YUSCHOK MD BOARD OF DIRECTORS 2.00 2.00 X 0 0 0 BBT RETIREMENT INSTITUTIONAL TRUSTEE 0.00 1.00 X 11141 0 0 CHRIS J CROWLEY CHIEF OPERATIONS OFFICER 0.20 60.00 X 0 122842 0 HENRY KNOWLES CHIEF FINANCIAL OFFICER 0.20 60.00 X 0 133093 0 MATTHEW P RAGAN DIRECTOR OF SUPPORT & CAMP 0.20 60.00 X 0 115749 0 11141 674381 0 0 0 1 0 0 13099 13099 94859 94859 45227 0 45227 45227 45227 153185 0 0 140086 11141 11141 11141 0 11141 0 9395 1206703 1287024 9348 0 1216051 1296419 0 0 X -130023 -66728 1346074 1363147 1216051 1296419 1216051 1296419 X 142044 -61676 X X 0 1 X 1 0 X X 1 CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA INC 590624376 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1216051 13099 78409 11142 1296417 1439259 97417 -309911 10714 1216051 1389531 62105 12377 1439259 2036976 10000 58363 715808 1389531 1835453 84246 237759 130468 2026990 0.13330 0.86670 0 0 0 EQUITY MUTUAL FUNDS 604395 F EQUITY EXCHANGE-TRADED FUNDS 389319 F FIXED INCOME MUTUAL FUNDS 154122 F CASH AND CASH EQUIVALENTS 24940 F LIFE INSURANCE POLICIES 114248 F 1287024 X PART V, LINE 4: EARNINGS FROM ENDOWMENT FUNDS ARE USED TO FUND THE OPERATIONS OF THE CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC. AND TO PAY THE EXPENSES OF THE CENTRAL FLORIDA SCOUTING PROGRAMS. PART X, LINE 2: THE COUNCIL IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND HAS BEEN GRANTED RECOGNITION OF ITS TAX-EXEMPT STATUS UNDER SECTION 501(A), AS DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE LAW, AS A CHARITABLE ORGANIZATION, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512 OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE COUNCIL HAD NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 ERIC MAGENDANTZ EXECUTIVE DIRECTOR 0 294897 0 0 0 7800 0 0 0 0 0 302697 0 0 PART I, LINE 3 THE TRUST FUND'S CHIEF EXECUTIVE OFFICER IS EMPLOYED BY CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC., A RELATED 501(C)(3) ORGANIZATION. THE FOLLOWING METHODS ARE UTILIZED BY CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC. TO ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER: - FORM 990 OF OTHER ORGANIZATIONS - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 2 JEFFREY JENNINGS, JOHN JENNINGS AND MICHAEL JENNINGS - FAMILY RELATIONSHIP LEN WILLIAMS AND THOMAS WILLIAMS - FAMILY RELATIONSHIP KIRK HALL AND PEGGY HALL - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS OF CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA INC. (THE COUNCIL), HAVING ESTABLISHED AND CREATED THE BOY SCOUT TRUST FUND FOR THE CENTRAL FLORIDA COUNCIL (THE FUND), SHALL BE ITS GOVERNING BODY. THE BOARD OF DIRECTORS OF THE COUNCIL IS ELECTED BY ITS ACTIVE MEMBERSHIP PURSUANT TO THE ORGANIZATION'S GOVERNING DOCUMENTS. THE COUNCIL HAS THE POWER TO APPOINT AND DISCHARGE THE FUND'S INSTITUTIONAL TRUSTEE AS IT DEEMS APPROPRIATE AND, SUBJECT TO THE PROVISION OF THE CHARTER, BYLAWS, AND RULES AND REGULATIONS OF THE BOY SCOUTS OF AMERICA, GIVES BROAD POWERS TO THE TRUSTEE, AS ENUMERATED IN THE AGREEMENT OF TRUST, TO ADMINISTER THE FUND. FORM 990, PART VI, SECTION A, LINE 7B THE ACTIVE MEMBERSHIP OF THE CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC. HAS THE AUTHORITY TO ELECT THE BOARD OF DIRECTORS AND OFFICERS, OTHER THAN THE SCOUT EXECUTIVE WHO IS APPOINTED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING EACH YEAR, THE TRUST FUND'S AUDIT COMMITTEE PERFORMS A THOROUGH REVIEW OF A PRELIMINARY DRAFT OF THE FUND'S FORM 990 WHERE IT WILL RECOMMEND CHANGES AND/OR CORRECTIONS, IF ANY, TO THE RETURN PREPARER. WHEN THE CHANGES HAVE BEEN INCORPORATED IN THE RETURN, THE AUDIT COMMITTEE WILL RECOMMEND THAT IT IS PRESENTED TO THE ENTIRE BOARD OF DIRECTORS FOR REVIEW. AT THAT TIME, A COMPLETE COPY OF THE TRUST FUND'S FORM 990 AND SCHEDULE IS EMAILED TO EACH DIRECTOR, WHERE HE OR SHE IS INVITED TO REVIEW THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE FUND FOLLOWS THE POLICY OF THE COUNCIL WHICH IS TO, AT LEAST ONCE A YEAR, DISTRIBUTE A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM TO ITS OFFICERS, DIRECTORS, TRUSTEES, AND PROFESSIONAL EMPLOYEES. THE COVERED PERSONS ARE REQUIRED TO COMPLETE AND SIGN THE CERTIFICATION AND DISCLOSURE FORM, WHICH IS RETAINED IN THE COUNCIL FILES. THE CERTIFICATION AND DISCLOSURE FORMS ARE REVIEWED NO LESS THAN ANNUALLY BY THE SCOUT EXECUTIVE AND TREASURER. ADDITIONALLY, THE COUNCIL COMPILES AND MAINTAINS A LIST OF POTENTIALLY CONFLICTED ENTITIES AND INDIVIDUALS. PROPOSED TRANSACTIONS ARE THEN MATCHED AGAINST THE LIST AS A MEANS OF IDENTIFYING POSSIBLE CONFLICTS. THE SCOUT EXECUTIVE IS ULTIMATELY RESPONSIBLE FOR MAINTAINING THE LIST AND SCREENING FOR POSSIBLE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA, INC. (THE COUNCIL), A RELATED 501(C)(3) ORGANIZATION, APPOINTS AN INDEPENDENT COMPENSATION AND BENEFITS COMMITTEE WHOSE RESPONSIBILITIES ARE TO REVIEW THE PERFORMANCE OF THE SCOUT EXECUTIVE AND TO ESTABLISH A COMPENSATION PACKAGE FOR HIM OR HER SUBJECT TO APPROVAL BY THE EXECUTIVE BOARD. THE COMPENSATION OF THE SCOUT EXECUTIVE IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. FORM 990, PART VI, LINE 15B - COMPENSATION REVIEW AND APPROVAL PROCESS - OFFICERS & KEY EMPLOYEES EACH YEAR, THE COUNCIL CHAIRMAN APPOINTS AN INDEPENDENT COMPENSATION AND BENEFITS COMMITTEE WHOSE RESPONSIBILITY IS TO ESTABLISH A COMPENSATION PACKAGE FOR OFFICERS OTHER THAN THE SCOUT EXECUTIVE AND KEY EMPLOYEES BASED ON PERFORMANCE REVIEWS CONDUCTED BY THE SCOUT EXECUTIVE USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY SITUATED ORGANIZATIONS. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. ADDITIONALLY, DURING THE ANNUAL BUDGETING PROCESS, THE EXECUTIVE BOARD REVIEWS THE REASONABLENESS OF THE FEES CHARGED BY THE TRUSTEE BASED ON THE INVESTMENT POLICY APPROVED BY THE EXECUTIVE BOARD TO SET A REALISTIC TARGET FOR INCOME, AND A BENCHMARK AND TIME LINE FOR COMPARISON, TO HOLD THE TRUSTEE ACCOUNTABLE. FORM 990, PART VI, SECTION C, LINE 19 THE FUND'S POLICY REGARDING DISCLOSURE OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS FOLLOWS THAT OF BOY SCOUTS OF AMERICA, INC. CENTRAL FLORIDA COUNCIL, WHICH IS THAT IF THE GOVERNING DOCUMENTS AND POLICIES OF THE COUNCIL ARE SUBJECT TO THE FEDERAL PUBLIC DISCLOSURE RULES (OR STATE PUBLIC DISCLOSURE RULES), THESE DOCUMENTS WILL BE MADE PUBLICLY AVAILABLE AS APPLICABLE LAW MAY REQUIRE. OTHERWISE, THE GOVERNING DOCUMENTS AND POLICIES WILL BE PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. FORM 990, PART XI, LINE 9: INTERFUND TRANSFER -61,676. AUDIT OVERSIGHT COMMITTEE: THE ORGANIZATION'S AUDIT OVERSIGHT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM PRIOR YEAR. CENTRAL FLORIDA COUNCIL BOY SCOUTS OF AMERICA INC 1951 SOUTH ORANGE BLOSSOM TRAIL 102 APOPKA FL 32703 590624376 TO PROMOTE THE BOY SCOUT PROGRAM BY PROVIDING EDUCATIONAL PROGRAMS. FL 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0