First Place Partners Inc

Nonprofit profile at a glance

EIN
821918684
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Pensacola, FL, USA
Phone
8504358300
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$6,000
Expenses
$40,610
Assets
$25,927
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • ED CARSON (PRESIDENT)
  • STEVE RHODES (VICE PRESIDENT)

People named in this filing

  • ED CARSON (PRESIDENT)
  • LOGAN DEVRIES (TREASURER)
  • STEVE RHODES (VICE PRESIDENT)

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

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

Overview

Mission

Promote economic development and job creation in escambia county fl and other counties included in the pensacola standard metropolitan statistical area (smsa)

What it reported doing in 2024

During the past year first place partners has supported economic and job growth in escambia and santa rosa counties in various ways - these activities were a continuation of the projects started in 2019. We provided direct funding to subscribe to a national data base to showcase the available sites and buildings in the two county region. Direct funding was provided for the hiring of a consultanting firm to set-up appoinments with target companies at trade shows. We researched and wrote a strategic plan for floridawest - the economic development recruitment organization for escambia county. We advocated for a good economic growth policy with the Florida legislature, supporting infrastructure funding for a number of items ranging from a new wastewater treatment plant for santa rosa county to road improvements for an industrial park in escambia county. In 2021 we continued our advocacy of good economic growth and continued to support funding for infrastructure projects within the two county area. As the military has a significant economic impact in the two county area it is critical to protect and grow the defense industry's presence in escambia and santa rosa county. We have partnered with floridawest to engage a consultant to perform a strengths, weaknesses, opportunities, and threats (swot) analysis targeting the department of navy installations in escambia and santa rosa county. This process will shed light on both the challenges and the opportunities each installation is facing and will give our orginization visibility into where our capabilities can be best leveraged to support nas pensacola and nas whiting field. In 2022 the swot analysis was completed abd shared with the various economic development organizations in santa rosa and escambia counties. It was determined that another organization will be formed to act on the oppertuities that the analysis identifed.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -576.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 42nd percentile among comparable filings
  • Revenue growth: -14.7% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: -9.4% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
  • Governance: 0 of 22 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $40K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2018 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.