Direct Support Organizations

Below is information regarding the following Direct Support Organizations (DSOs):

• UCF Convocation Corporation
• UCF Finance Corporation
• UCF Stadium Corporation

A Direct Support Organization is a subsidiary corporation of the university and is certified by the Board of Trustees to support the mission and goals of the university. See Florida Statute 1004.28 and the DSO Statements of Purpose for further information.

About The Convocation Corporation

The UCF Convocation Corporation was created by the University Board of Trustees to provide a means for financing facilities to meet university needs for large meetings, or convocation space and to provide additional student housing.

The UCF Convocation Corporation also manages a 10,000 seat arena, a renovated venue, and four student housing residence halls. Additionally, the corporation manages two parking garages for the convenience of the resident students, and one parking garage to serve guests of the arena and surrounding venues, such as the baseball and football stadiums. The entity also includes approximately 80,000 square feet of retail space.

These facilities provide lodging for UCF students and retail outlets serving students, faculty, staff, and the general public. Both arenas hosts university events such as graduations, basketball games, concerts, and other forms of entertainment or public gatherings. University events take priority in booking the arena over rentals to outside entities. A facilities management company is used to book and manage events. This management company has oversight provided by employees of the university.

The corporation’s revenues are used to cover debt service and the operation and maintenance of the facilities. Revenues in excess of these needs can be used for other university purposes with the approval of the Board of Trustees.

About The Finance Corporation

The UCF Finance Corporation was created by the University Board of Trustees to provide a means for financing the Burnett Biomedical Sciences building and the Medical Education building. After its creation for the purpose of incurring debt and a conduit for servicing that debt, and with no operating revenues or expenses, the university-appointed corporate governing board decided to further use this corporation as a vehicle to facilitate select future financings where there would be no need for the corporation to be involved in the operations of whatever entity was the beneficiary of the financing. Specifically, the articles of incorporation state that “The Corporation is organized and shall be operated exclusively to receive, hold, invest, and administer property and to make expenditure to or for the benefit of the University of Central Florida.”

About The UCF Stadium Corporation

The UCF Stadium Corporation, formerly known as the Golden Knights Corporation, was created by the University Board of Trustees to provide a means for financing an on-campus football stadium and athletics building. A series of Certificates of Participation were originally issued to provide construction funds for the stadium. The debt is serviced by revenues generated by stadium events and other revenues pledged by the University of Central Florida Athletics Association. A governing board for this direct support organization was appointed by the university president.