Florida Economic Development Council
- Assets
- $191.2k
- Revenue
- $205.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 03/1970
- Data as of
- 06/2023
- EIN
- 23-7035680
Organization Overview
Florida Economic Development Council is located in Tallahassee, FL. The organization was established in 1970. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Economic Development Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Florida Economic Development Council generated $205.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $182.7k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FLORIDA DEVELOPEMENT COUNCIL, INC. HAS BEEN ORGANIZED TO PROMOTE ECONOMIC DEVELOPMENT IN THE STATE OF FLORIDA THROUGH AN ANNUAL CONFERENCE FOR BUSINESSES, GOVERNMENT AND INDIVIDUALS. IT ALSO PROVIDES FOR ECONOMIC DEVELOPMENT AWARENESS THROUGH NEWLETTERS AND OTHER MATERIALS SENT TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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. IT SENDS A BI-WEEKLY NEWSLETTER TO THE MEMBERS AND GIVES LEGISLATIVE UPDATES DURING THE LEGISLATIVE SESSION. FEDC SPONSORS AN ANNUAL CONFERENCE FOR MEMBERS AND OTHER INTERESTED PARTIES THAT IS ATTENDED BY APPROXIMATELY 275 INDIVIDUALS. FEDC ALSO SPONSORS REGIONAL WORKSHOPS FOUR TIMES A YEAR AND THE ATTENDENCE AVERAGES 60 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Coddington Leed Ap Vc Of Advoca | Trustee | $0 | |
Sherry Ambrose V Chair-Prof | Trustee | $0 | |
Michelle Bauer Chair | Trustee | $0 | |
Casey Barnes Cecd Vc Of Financ | Trustee | $0 | |
James Kohnstamm Cecd Se Region Di | Trustee | $0 | |
Suzanne Christman Past Chair | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $171,917 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,917 |
| Total Program Service Revenue | $29,275 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $125,295 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,167 |
| Fees for services: Lobbying | $6,900 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $991 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,885 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,139 |
| All other expenses | $7,570 |
| Total functional expenses | $182,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,357 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,881 |
| Total assets | $191,238 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $191,238 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $191,238 |