Pasco Economic Development Council Inc

Nonprofit profile at a glance

EIN
592031062
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lutz, FL, USA
Phone
8139260827
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$2,516,677
Expenses
$2,483,793
Assets
$4,458,065
Liabilities
$461,800

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

Leadership & pay

38 people listed

Executive titles in this filing

  • WILLIAM CRONIN (PRESIDENT)

Highest reported compensation

  • WILLIAM CRONIN (PRESIDENT): $217,736 total reported compensation

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

Overview

Mission

The pasco economic development council is an economic development organization (non-profit) dedicated to the economic development of pasco county, Florida. The organization works together with other entities to improve the county economy and quality of life.

What it reported doing in 2024

Developed promotional material about pasco county for print to attract, retain, and promote the expansion of business and industry; provided technical assitance and training to new and expanding businesses; provided low cost loans to new and expanding businesses.

Operating model

Revenue model
Grant-funded. 63% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 60
  • Accountability: 84
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.5%; rating input score 93
  • Program expense ratio: 94.2%; rating input score 94
  • Fundraising efficiency: $32.19 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: 1.3%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.79; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 93.5% of revenue deployed · 94.2% of spending went to programs
  • Governance: 37 of 37 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $218K · 38 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.