The Florida Economic Development Council Inc
Nonprofit profile at a glance
- EIN
- 237035680
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-EZ 2009
- Location
- Tallahassee, FL, USA
- Phone
- 8502121056
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $222,825
- Expenses
- $259,003
- Assets
- $155,678
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
People named in this filing
- SHERRY AMBROSE (CO-VICE CHR)
- CASEY BARNES (CURRENT BOAR)
- MICHELLE BAUER (FORMER CHAIR)
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
Mission statement our mission is to serve as the Florida economic development community's primary resource for peer connections, professional develpment and advocacy. Vision statement fedc is Florida's leading organization for advancing statewide prosperity by professionalizing our field, strengthening our competitiveness, and serving as the number one source of economic development expertise in Florida. Educate educate our members to enhance their professional expertise and inform our business and government leaders about the importance of economic, workforce, and community development for greater statewide prosperity. Advocate provide leadership and advocacy for policies, initiatives, and programs that promote workforce development, job creation, investment, and greater competitiveness throughout Florida. Connect strengthen relationships between fedc members and economic development stakeholders through peer networking, mentoring, regional collaboration, resource sharing and timely c
What it reported doing in 2024
The Florida economic development council inc (fedc)is organized for the purpose of advancing economic development in the state of Florida and enhance the professionalism of its 500 plus members through education, interaction and the exchange of information with businesses, government and all other interested organizations and persons. Fedc communicates bi-weekly with members via email, social media, and within the organization's crm about professional development opportunities, member best practices, and state and local policies related to economic, workforce, and community development. During the fiscal year the organization hosted four regional member meetings in miramar, ocala, tallahassee, and destin Florida and multiple professional development webinars.
Operating model
- Revenue model
- Membership-supported. 89% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 38
- Transparency & Controls: 90
- Accountability: 70
- Sustainability: 34
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 44.9%; rating input score 45
- Program expense ratio: 37.9%; rating input score 38
- 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: -16.2%; rating input score 17; 17th percentile among comparable filings
- Total-asset coverage ratio: 0.6; rating input score 28; 28th 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: -4.4% per year; rating input score 0; 18th percentile among comparable filings
- Revenue growth: -0.3% per year; rating input score 0; 22nd percentile among comparable filings
- Asset growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 44.9% of revenue deployed · 37.9% of spending went to programs
- Governance: 20 of 20 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $98K in reported program spending
- Leadership: top reported pay $0 · 20 people listed
- Highest-paid contractors: 1 contractor listed · $135K reported
- Consistency: 18 of 18 current checks pass
- Schedules: 3 filed schedules
- Filing history: 14 filing years from 2011 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
- Moderate — Financial Efficiency: Program expense ratio scored 38/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 17/100.
- High — Sustainability: Total-asset coverage ratio scored 28/100.