report to donors 2009-2010 -...
TRANSCRIPT
community’s changing workforce
needs. Our four-year baccalaureate
programs will continue to expand and
will provide students with even more
opportunities to achieve their dreams.
The Broward College family -
comprised of students, faculty,
employees, alumni and donors -
continues to grow. We look forward
to serving you and our community for
the next 50 years.
Sincerely,
J. David Armstrong, Jr.
President
Report to Donors
2009-2010
2009 Broward College Foundation Report to Donors
Broward College President J. David Armstrong, Jr. (L), G.J. and Antonia Armstrong (R) join one of Broward College’s newest family members, Broadway’s Brian Stokes Mitchell, recipient of a Broward College honorary degree.
Michael G. Landry, Board Chair of the Broward College Foundation, CEO of Landry Trebbi Investment Corporation and owner of The Pillars Hotel at New River Sound
Broward College Foundation Supports Student Success
Message from the President
Broward College Honors students enjoy their moment in the sun at the Broward College Foundation’s Heritage Society Luncheon, ”Investing in the American Dream.”
Broward College Honors students,
many of them scholarship recipients
themselves, have transformed into
philanthropists by raising scholarship
funds for deserving incoming
students. Before they have even
graduated, the Broward College
Honors students have recognized the
value of an education and have
worked hard to provide opportunity
for others.
“So far we have organized car washes
and a fundraising dinner; we have
other things in the planning stages,”
said Mazen Mbayed, the student
spearheading the fundraising efforts.
“We’d like to purchase Florida Pre-
paid Scholarships for incoming
students. The help many of the
Honors students have received from
the Broward College Foundation and
its generous donors is invaluable, and
these donors set a great example for
us. As we are growing academically,
we think it is also important to
develop ourselves into good
community stewards. Scholarships
are the best way we can thank you for
investing in our American Dream.”
The Broward College Foundation Board of
Directors recently completed the extensive
“Boards in Action” workshop made available
by the Community Foundation of Broward.
The program enabled us to identify areas of
focus imperative for propelling the organization
to the next level. I want to acknowledge the
board’s dedication to improving the Broward
College Foundation’s capacity to transform
lives through education.
Investing in learning remains our greatest hope
for economic recovery and community
prosperity. On behalf of the foundation, thank
you for your generous, continued support.
Sincerely,
For 50 years, Broward College has
provided access to higher education
in Broward County and, in doing so,
has provided our community with
nurses, teachers, pilots, public safety
officials and leaders in private
industry and public service. In fact,
as of May, Broward College has
awarded more than 105,000 degrees
and certifications.
In celebrating our semicentennial, it is
impor tan t to recognize our
great relationships with healthcare,
aviation and information technology
partners. Building upon these
relationships has provided a solid
foundation for meeting our diverse
Because of you, the
Broward College Foundation
funded 2,823 scholarships
in 2009.
MERIT-
BASED SCHOLARSHIPS
1,180
NEED-
BASED SCHOLARSHIPS
1,643
Michael G. Landry
Board Chair
Message from the Broward College Foundation Board Chair
2009 Broward College Foundation Report to Donors
Statement of Activities
Market Value of Investments
Statement of Financial Position
Market Value of Investments
$-
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
Jan-0
9
Feb-0
9
Mar
-09
Apr-0
9
May
-09
Jun-0
9
Jul-0
9
Aug-0
9
Sep-0
9
Oct-0
9
Nov-09
Dec-0
9
BCF market value
SUPPORT AND REVENUE 2009 2008
Contributions and bequests $ 1,266,470 $ 5,739,883
Support from Broward College 927,570 1,113,179
State matching contributions 881,557
Fundraising event revenue 245,287 430,635
Interest and dividends 1,242,174 1,510,476
Net unrealized and realized gains (losses) on investments 10,052,314 (17,851,201)
Other revenues 109,646 70,441
Total support and revenue 13,843,461 (8,105,030)
EXPENSES
Program expenses (scholarships, Endowed Teaching Chair and program support)
5,047,397 5,584,494
Total program expenses 5,047,397 5,584,494
General and administrative expenses:
Administrative expenses 1,077,544 1,167,662
Development expenses 712,163 739,648
Fundraising event expenses 129,845 285,330
Investment manager fees 228,575 279,294
Total general and administrative expenses 2,148,127 2,471,934
Total expenses 7,195,524 8,056,428
Change in net assets 6,647,937 (16,161,458)
NET ASSETS, beginning of year 59,548,304 75,709,762 NET ASSETS, end of year $ 66,196,241 $ 59,548,304
ASSETS 2009 2008
Cash and cash equivalents $ 1,980,222 $ 2,335,476
Pledges receivable 187,200 485,541
Prepaid expenses 6,175 4,857
Investments 64,705,883 57,613,718
Total assets $ 66,879,480 $ 60,439,592
LIABILITIES AND NET ASSETS
LIABILITIES
Accounts payable and other liabilities $ 566,022 $ 332,438
Program support, awards and grants payable 117,217 558,850
Total liabilities 683,239 891,288
NET ASSETS
Unrestricted:
Operating 5,873,839 4,299,582
Board designated 307,663 307,663 Total unrestricted 6,181,502 4,607,245
Temporarily restricted 24,913,932 19,968,056
Permanently restricted 35,100,807 34,973,003
Total net assets 66,196,241 59,548,304
Total liabilities and net assets $ 66,879,480 $ 60,439,592
Date Market Value
1/31/09 $ 52,260,494
2/28/09 $ 51,766,716
3/31/09 $ 54,016,914
4/30/09 $ 57,702,389
5/31/09 $ 60,472,476
6/30/09 $ 60,107,422
7/31/09 $ 62,727,189
8/31/09 $ 64,403,098
9/30/09 $ 65,458,211
10/31/09 $ 63,181,240
11/30/09 $ 65,078,078
12/31/09 $ 64,705,883
Broward County offers myriad
opportunities for philanthropic
individuals and we are honored you
have chosen to invest in the students
served by the Broward College
Foundation.
In facing some of the worst economic
times this nation has seen since the
Great Depression, the Broward
College Foundation, through its
finance and investment committee,
h a s j u d i c i o u s l y m o n i t o r e d
investments. We have continued a
course of prudent oversight and good
stewardship of your philanthropic
contributions.
While Broward College offers one of
the most reasonable tuition rates in
the country, a Broward College
education is not free. One class at
Broward College can cost almost
$300.
What is the cost of not educating
Broward County residents? It costs
more than twice as much to
incarcerate a young person for one
year than to educate them for two. It
costs untold amounts for families
entrenched in the cycle of poverty. It
costs us the health and well-being of
our community.
Enrollments are up and there have
been deep cuts in state educational
funding. Private contributions have
never been more important than they
are now.
As we look forward to celebrating
Broward College’s 50th Anniversary,
it is important to note that next year
the Broward College Foundation will
celebrate a milestone of its own: forty
years of providing advocacy and
financial support for students striving
to achieve their American dreams.
The value of an education is truly
priceless.
Nancy R. Botero
Executive Director
Market Value
Message from the Executive Director
2009 Broward College Foundation Report to Donors
Year in Review and New Developments
President’s Club
The Broward College Foundation is pleased to
honor the following distinguished donors for
their generous support of the President’s Club.
Seen below at a President’s Club reception at
the Broward College Buehler Planetarium and
Observatory are Elaine and Jon Krupnick.
A highlight of 2009, the Second Annual Tripp Scott
Lyceum Awards honored Broward College’s Endowed
Teaching Chair recipients. Funding for the ETC awards
was made possible by the generosity of Bank of America,
A. Hugh Adams, George and Wilma Elmore, Margaret
and Cato Roach, the Robert Elmore Family, R. Irene
Craney Fischley and Wachovia.
Broward College hosted His Holiness the 14th Dalai
Lama of Tibet in February. A panel discussion with the
Dalai Lama (R) was facilitated by President J. David
Armstrong, Jr. (L) and a high tea immediately followed.
Dalai Lama Visits Broward College Community Leaders Invest in the American Dream at Heritage Society Luncheon
“Investing in the American Dream” was the theme of the
Broward College Foundation’s Heritage Society
Luncheon. The event raised more than $190,000.
Pictured above are (L-R) Broward College Foundation
Board Chair Michael G. Landry, Alan Levy, Jennifer
Pierce, keynote speaker and Project STARS founder
Stanley Tate and Broward College President J. David
Armstrong, Jr. Pictured below left are (L-R) Louis and
May Jean Wolff and Sylvia Yohalem. Pictured below
right are (L-R) Wini Amaturo, foundation board member
and luncheon chair Gale Butler and Mimi Bauer.
Blue Cross Blue Shield of Florida contributed $150,000
to the foundation and earmarked a portion for Hispanic
Unity. Pictured above are (L-R) Hispanic Unity’s Josie
Bacallao, South Campus Provost Dr. Lourdes Oroza,
Trustee Sean Alveshire, Blue Cross Blue Shield’s
Martha de la Pena, Trustees Sean Guerin and Paul
Tanner, Blue Cross Blue Shield’s Susan Towler, Trustees
Georgette Sosa Douglass and Levi Williams, foundation
Director of Grants Ellyn Drotzer and Executive Director
Nancy R. Botero and President J. David Armstrong, Jr.
Blue Cross Blue Shield Presents $150,000 Gift
Golfers Raise Green for Education
More than 144 golfers took to the links for the 23rd
Annual SHARP Broward College Foundation Golf
Classic to raise money for scholarships. Featuring a
silent auction and awards dinner, the highlight of the
event was the Live Auction, when two lucky bidders won
the opportunity to be “Broward
County Sheriff for a Day.”
Pictured above are (L-R) Fort
Lauderdale Country Club’s Mark
Van Dyck, sponsor MEP
Structural Engineering and
Inspection, Inc.’s Sal Giorlando
and Otto Letzelter, the
foundation’s Executive Director Nancy R. Botero,
student Bahareh Heidari, title sponsor SHARP’s Ricky
Bolanos, student Ana Rocha, SHARP’s Samantha
Jarrell, board member and sponsor Merrill Lynch’s Jamie
Tidwell, board member and sponsor AutoNation’s Gale
Butler and presenting sponsor CIGNA’s Scott Evelyn.
Pictured in the middle is
Sheriff Al Lamberti. Pictured
left are (L-R) Ricky Bolanos,
Jamie Tidwell and SHARP’s
L u i s G o n z a l e z . T h e
tournament raised $90,000 for
deserving students.
To acknowledge the Emil Buehler Perpetual Trust’s
longstanding support of Broward College, President J.
David Armstrong, Jr., left, Trustee Sean Guerin and
foundation Vice Chair Ray Kendrick present the Emil
Buehler Perpet-
ual Trust’s George
Weaver, second
from left, with a
plaque in honor of
the dedication of
the indus t ry -
leading MaxSim®
Air Traffic Con-
trol Simulator at
Broward College’s
Aviation Institute.
Emil Buehler Perpetual Trust Continues Constant Support
Honorary Provosts
Dr. Floyd Koch
Elaine* and Jon Krupnick
Rosemary Duffy Larson
Honorary Deans
H. Wayne Huizenga
Moss & Associates
Honorary Chairs
Altman Foundation for Children
Kyle C. Boos*
Joan Elmore
Robert "Bob" Elmore
Richard L. Hamill*
Teresa Justice*
Barbara and Michael Landry
Alan and Marsha* Levy
William M. Murphy
William D. Pennell
Regions Bank
Teresa B. Sjogren*
Honorary Professors
A. Hugh Adams
BankAtlantic
Best Rental Service
Mark Fried*
Bill Lank*
Mad 4 Marketing, Inc.
Samuel F. Morrison
Lloyd F. Rhodes*
M. Scott Whiddon
Honorary Fellows
Ambit Advertising and Public Relations
Michael Bassichis
Berenfeld Spritzer Shechter & Sheer LLP
Dr. Irmgard L. Bocchino*
Dr. Lois Bolton
Nancy R. Botero*
Dr. Barbara J. Bryan
The Law Offices of George Castrataro, PA
Steve Cooper
Judith Davidoff*
Phillip E. Harlow
John P. Hart
Ray Kendrick
Annie and Kevin Kessler
James B. LaBate
Christine Lambertus
David H. Lindemann
Ande Mayhue
MEP Structural Engineering & Inspection, Inc.
Tom and Maryrose Mullane
Randye Notey
Gregory M. Oram - Tower Club
Dr. Lourdes Oroza
Mayor Frank C. Ortis
Pavarini Construction Company
Jillian Krueger Printz
Joan Readding
Phil Rosenberg
Dr. and Mrs. Peter Sarbone
Ellen Schulman
Dr. Kenneth Stevenson
TD Bank
Mr. James Tidwell
Dean Trantalis and Richard G. Smith
Beverly Yanowitch
* Broward College alumni
Second Annual Tripp Scott Lyceum Awards
Honor Endowed Teaching Chairs
MISSION STATEMENT
The mission of the Broward College Foundation is to transform lives through education by providing community awareness, advocacy and financial support to Broward College.
Donor Spotlight Rosemary Duffy Larson is one in a million and is
living proof that great things come in small
packages. This petite and gracious lady is an
ardent supporter of Broward College through her
involvement in the Broward College Foundation.
An active community philanthropist and
benefactor, Rosemary Duffy Larson is a member
of the foundation’s President’s Club and recently
bequeathed a million dollar legacy gift to the
Broward College Foundation because she believes
education has the power to transform lives.
“The legacy gift Rosemary Duffy Larson has
bequeathed will serve countless students in
Broward County,” said Michael Landry, Broward
College Foundation Board Chair. “Because of
people like Mrs. Larson, we can insure the
continued vibrancy and prosperity of our
community. On behalf of Broward College and
the foundation, thank you, Mrs. Larson!”
Have you thought about leaving a legacy gift to Broward College? To learn more about planned giving, please visit:
www.LegacyBroward.com.
The Board of Directors of the Broward College Foundation is pleased to acknowledge the following donors whose gifts of $10,000 or more were made between January 1 - December 31, 2009.
Broward College Foundation Leadership Gifts
Balfour Beatty Construction, Inc.
Blue Cross Blue Shield
Cigna Healthcare Corporation
CITI Foundation
Community Foundation of Broward , Inc.
Delta Connection Academy, Inc.
Louis & May Jean Wolff
Gertrude E. Skelly Charitable Foundation
Health Foundation of South Florida
Helios Education Foundation
Holy Cross Hospital, Inc.
Jon and Elaine Krupnick
Joseph T. Charles
Leo Goodwin Foundation
Lillian Jean Kaplan Foundation
Marine Industries Association of South Florida
Mary L. Rasmuson
Michael G. Landry
Rosa J. Lawson
Rosalind Ludwig Children's Foundation
Rosemary Duffy Larson
Sun-Sentinel Children's Fund
The Community Foundation, Inc.
The Emil Buehler Perpetual Trust
The Florida College System Foundation
The Jim Moran Foundation
Tripp Scott
United Way of Broward County
The following donors have contributed more than
$10,000 "in-kind" products, goods or services:
American Offshore Marina
Banyan Bay Marina
Pantropic
Tammi Molinet
Tim Davey
Broward College Foundation Board of Directors Officers
Michael G. Landry, Chair
Lloyd F. Rhodes, Past Chair
Ray Kendrick, Vice Chair
Teresa B. Sjogren, Secretary
Phillip E. Harlow, Treasurer
Nancy R. Botero, Executive Director
J. David Armstrong, Jr., College President Directors
Kyle C. Boos
Gale Butler
Mark R. Fried
Kathryn Young Glenewinkel
Ramin Gozleveli
John P. Hart
Anne Alexandra Kessler
James B. LaBate
Christine Lambertus
James S. Lansing
Marsha Levy
David Lindemann
Gregory E. McGowan
Phil Rosenberg
Antonio Seminario
Gregory R. Tait
Paul Tanner
James D. Tidwell
M. Scott Whiddon
Louis Wolff
Dionne E. Wong Honorary Directors
Walter Banks
Michael Chizner
Arden Dickey
Jesse P. Gaddis
Kathy Koch
Catherine Leisek
Chris Mobley
Stacy Modlin
Izu Nnakenyi
Eugene K. Pettis
Ellen Schulman
Richard O. Wessel
Mary Wood Directors Emeritus
Marietta M. Benevento
Russell L. Cheatham
Robert L. Elmore
Alfred D. Harrington, Jr.
Willis Holcombe
Richard Kip
Clete Siefker
Judy Van Alstyne
Carol Weber-Thomas Chairperson Emeritus
Gene A. Whiddon (deceased)