Florida Economic Development Council Foundation Inc
Nonprofit profile at a glance
- EIN
- 874015607
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024
- Location
- Tallahassee, FL, USA
- Phone
- 8502121056
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Public, Societal Benefit
Reported finances
- Revenue
- $298,263
- Expenses
- $375,549
- Assets
- $90,168
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
People named in this filing
- MICHELLE BAUER CECD (PAST CHAIR B)
- CASEY BARNES (VICE CHAIR)
- DAVID CODDINGTON (VICE CHAIR-F)
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
The Florida economic development council foundation inc (the organization) conducts charitable, educational, research, literary, and scientific activities on a variety of economic development and workforce issues facing the state of Florida. Through its research, the organization aims to identify the skill deficiencies in the state's workforce and other barriers to economic growth, including but not limited to infrastructure and business climate, and examine what factors affect the economic prosperity of Florida residents. The activities are focused on understanding the needs of businesses and industries in the state of Florida, including conducting research for the purpose of aiding Florida communities to attract new industry or to encourage the development or retention of businesses and industries within these communities. The organization also conducts activities to understand the needs of unemployed, underemployed and underserved residents in Florida in order to increase employment
What it reported doing in 2024
The Florida economic development foundation inc conducts an annual professional development conference that includes general sessions and breakout sessions coveering economic, workforce and community development programs and method used in Florida and general industry best practices.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 90
- Accountability: 70
- Sustainability: 27
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 82%; rating input score 82
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Pass
- 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: -25.9%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 0.24; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 21.2% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 10% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 82% of spending went to programs
- Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $308K in reported program spending
- Leadership: top reported pay $0 · 10 people listed
- Consistency: 18 of 18 current checks pass
- Schedules: 3 filed schedules
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- 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: Governance controls: 4 of 6 not reported.
- High — Sustainability: Operating margin scored 11/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.