Central Florida Development Council Inc

Nonprofit profile at a glance

EIN
592681696
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2012
Location
Lakeland, FL, USA
Phone
8639374430
Rating confidence
Limited

Official website

Reported finances

Revenue
$1,777,711
Expenses
$1,672,528
Assets
$1,396,882
Liabilities
$330,044

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • SEAN MALOTT (PRESIDENT & CEO)

Highest reported compensation

  • SEAN MALOTT (PRESIDENT & CEO): $209,983 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grow an economy based on high-skill, high-wage sustainable businesses. We focus on business recruitment and expansion, business advocacy, facilitating collaborative partnerships and advancing strategic initiatives in central Florida's polk county.

What it reported doing in 2024

Central Florida development council (cfdc) is responsible for recruiting new businesses to polk county and helping existing businesses expand. We focus on business recruitment and expansion, business advocacy, facilitating collaborative partnerships and advancing strategic initiatives in central Florida's polk county. Founded in 1985, cfdc transitioned into a private, not-for-profit organization in 2015 through a strategic partnership with the polk county board of county commissioners and the local business community. The vision of the cfdc is to develop an economic environment that attracts and retains industry-diverse businesses with higher-paying careers and educates and retains qualified talent to align with targeted industry workforce needs.

Operating model

Revenue model
Grant-funded. 68% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 74
  • Accountability: 84
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.9%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $210K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.