Mission Statement: The Florida Prepaid College Board is committed to helping Floridians save for future qualified higher education expenses by providing a cost-effective, financially sound Prepaid College Plan and other college savings programs.
The Florida Prepaid College Board has seven members, including the Chief Financial Officer of Florida, the Attorney General of Florida, the Chancellor of the Board of Governors of the State University System of Florida, the Chancellor of the Division of Florida Colleges of the Florida Department of Education, or their designees, and three members appointed by the Governor and subject to confirmation by the Florida Senate.
The Florida Prepaid College Board manages the Stanley G. Tate Florida Prepaid College Program and the Florida 529 Savings Plan. Both are tax-favored 529 college savings plans authorized by Section 529 of the Internal Revenue Code. The Board establishes policy and actively oversees the investment and financial performance of the programs. There are 14 positions (FTE) authorized by the Board, including an Executive Director appointed to oversee the day-to-day operations of the Board and its programs.
Ambassador John D. Rood was appointed to the Florida Prepaid College Board by Governor Rick Scott in 2016 and is the current Chairman of the Board. Mr. Rood is the founder and chairman of The Vestcor Companies. He served as United States Ambassador to the Commonwealth of the Bahamas from 2004 until 2007. Mr. Rood previously served as a member of the Florida Fish and Wildlife Conservation Commission and the Board of Governors of the State University System. He is on the Board of Trustees of Flagler College and previously served as a board member for Episcopal High School and Teach for America. Mr. Rood received his bachelor’s degree from the University of Montana.
Vice Chairman Philip E. Marshall was appointed to the Florida Prepaid College Board in 2011 as the designee for the Chief Financial Officer of Florida, Jeff Atwater. With more than 30 years’ experience in the financial services industry, Mr. Marshall serves as a Principal at Advantage Capital Partners where he is responsible for investment activities and portfolio management of the firm’s investments in the Southeast. Prior to this, he was associated with SunTrust Robinson Humphrey, the investment banking arm of SunTrust Banks for more than two decades. Mr. Marshall is active in the Central Florida community and previously served as Chairman of the Board of Trustees of Bishop Moore Catholic High School in Orlando as well as a member of the Finance Committee. Mr. Marshall earned a Bachelor’s degree from the University of Florida in Agricultural Economics and a M.B.A. with a concentration in Finance from the Wharton School of the University of Pennsylvania.
Marshall M. Criser III was named Chancellor of the State University System of Florida in January 2014. Fully dedicating himself to his passion of higher education advocacy, Mr. Criser is serving his fifth year as the Florida House Speaker’s appointee to the Higher Education Coordinating Council. Mr. Criser was appointed to the Florida Prepaid College Board in 2014. Mr. Criser represented the business community by serving as the former president of AT&T Florida. His community service includes terms as vice chair of the University of Florida’s Board of Trustees, chair of the Florida Chamber of Commerce and chair of Florida TaxWatch. A Florida native, Mr. Criser graduated from the University of Florida with a degree in business administration and completed an Advanced Management Programme at INSEAD of Fountainebleau, France.
Mr. Lovett is managing director and co-founding partner of Lovett Miller & Co., a Florida-based venture capital and private equity firm that invests in privately held companies primarily in the Southeastern United States. Mr. Lovett has also served as founder, chairman and chief executive officer of two successful growth companies, TowerCom Development, LP, and TowerCom Limited. In addition, Mr. Lovett formerly served as a member of the board of trustees for the University of North Florida and also served as president of the foundation board and co-chairman of the University of North Florida’s Capital Campaign. He is also a former chairman of the Youth Crisis Center and the Jacksonville Jaguars Honor Rows program. Mr. Lovett graduated from Harvard College and lives in Atlantic Beach, Florida.
Madeline M. Pumariega started as Chancellor of the Florida College System in September 2015. Prior to becoming Chancellor, Ms. Pumariega served as the President and Chief Executive Officer of Take Stock in Children, a statewide nonprofit organization that aims to help at-risk youth break the cycle of poverty by completing college. Previously, Ms. Pumariega served as President of the Wolfson Campus at Miami Dade College. She was with Miami Dade College for more than a decade, serving in a number of leadership roles. Ms. Pumariega also serves on the board of City Year Miami and was a national Kellogg Fellow for the League for Innovation’s Expanding Leadership Diversity in Community Colleges program. Ms. Pumariega is a doctoral candidate at Barry University and earned her Master of Education from Florida Atlantic University and her Bachelor of Arts from St. Thomas University.
James W. Rasmussen was appointed to the Florida Prepaid College Board in December 2015 by Governor Rick Scott. Mr. Rasmussen is the former Chairman, President and CEO of SunTrust Bank, South Florida. Mr. Rasmussen’s career with SunTrust spanned 37 years. Mr. Rasmussen has been active in community and civic affairs, maintaining leadership positions throughout his career. He currently serves as a Director on the Advisory Board of SunTrust Bank, North Florida and mentors students at the Florida State University College of Business. Mr. Rasmussen graduated from Bradley University with a Bachelor of Science degree in accounting and earned his graduate degree from the Stonier Graduate School of Banking. Mr. Rasmussen is a graduate of Leadership Florida, Class XIII.
Adria D. Starkey was appointed to the Florida Prepaid College Board by Governor Rick Scott in December 2015. Ms. Starkey serves as the Collier County President for FineMark National Bank & Trust. Ms. Starkey has three decades of experience in financial services. Prior to joining FineMark, Ms. Starkey was Chief Operating Officer of The Sanibel Captiva Trust Company and President of The Naples Trust Company. She is currently on the Foundation Board for Healthcare Network of Southwest Florida, the Board of Directors for Gulfshore Playhouse and the Friends of Baker Park Board of Directors. She is currently a trustee of the Naples Children and Education Foundation. Ms. Starkey holds a degree in finance from the University of Florida and has done postgraduate work at Florida International University, University of Miami and the University of North Carolina.