Economic Development Council of South Miami-dade Inc

Nonprofit profile at a glance

EIN
650407832
IRS 990-EZ coverage
2011–2024
Forms available
Form 990 2023, Form 990-EZ 2024, Form 990-N 2015
Location
Palmetto Bay, FL, USA
Rating
96
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$50,153
Expenses
$217,967
Assets
$104,518
Liabilities
$178

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

Leadership & pay

6 people listed

People named in this filing

  • Lisa Greer (Chair)
  • Baldwyn English (Director)
  • Wilbur Bell (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The Economic Development Council of South Miami-Dade Inc. EDC provides support and advocacy to existing and prospective businesses and promotes initiatives which bolster the regions resiliency and sustainability.

What it reported doing in 2024

The EDC continues to provide initiatives that bolster the sustainability of the region which include: - Encouraging the Dept of Defense for the basing of F35s at HARB - Creation of a South Dade Aerospace Technology Hub north of HARB - Continued economic development by attracting businesses that provide higher paying jobs careers - Collaborations with local schools colleges and universities for training and certification programs

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -334.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $218K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.