Florida Opportunity Fund Inc
Nonprofit profile at a glance
- EIN
- 412262408
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Orlando, FL, USA
- Phone
- 4079565600
- Rating
- 57
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $53,188,814
- Expenses
- $3,616,939
- Assets
- $188,521,939
- Liabilities
- $191,689
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- ROBERT HARVEY (PRESIDENT)
People named in this filing
- AJ RIPIN (CHAIRMAN)
- SUSAN AMAT (DIRECTOR)
- BRANDON DETWEILER (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The fund was created because the Florida legislature found there was a need to increase the availability of seed capital and early stage venture equity capital for emerging companies in the state, including, without limitation, enterprises in life sciences, information technology, advanced manufacturing processes, aviation and aerospace, and homeland security and defense, as well as other strategic technologies.
What it reported doing in 2024
The fund increases the availability of seed capital and early stage venture equity capital for emerging companies in the state, including, without limitation, enterprises in life sciences, information technology, advanced manufacturing processes, aviation and aerospace, homeland security and defense, and energy efficient or renewable energy products and technologies, as well as other strategic technologies.
Operating model
- Revenue model
- Grant-funded. 93% of the money available for current operations came from government grants.
- 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
MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 35
- Transparency & Controls: 54
- Accountability: 94
- Sustainability: 99
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 6.3%; rating input score 6
- Program expense ratio: 94.4%; rating input score 94
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 12th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 6 of 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 93.2%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 52.12; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings
Growth
- Program expense growth: -3.3% per year; rating input score 0; 3rd percentile among comparable filings
- Revenue growth: 7.8% per year; rating input score 100; 65th percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 6.3% of revenue deployed · 94.4% of spending went to programs
- Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $3.4M in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Highest-paid contractors: 2 contractors listed · $1.7M reported
- Consistency: 21 of 22 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and foreign activity
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 2 filed related-organization links
- 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 — Financial Efficiency: Mission deployment rate scored 6/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.