Central Florida Development Council Inc
- Assets
- $836.7k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Lakeland, FL
- Founding
- 02/1987
- Data as of
- 09/2022
- EIN
- 59-2681696
Organization Overview
Central Florida Development Council Inc is located in Lakeland, FL. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Central Florida Development Council Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Florida Development Council Inc 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 09/2022, Central Florida Development Council Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $1.3m during the year ending 09/2022. While expenses have increased by 21.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GROW AN ECONOMY BASED ON HIGH-SKILL, HIGH-WAGE SUSTAINABLE BUSINESSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CFDC IS RESPONSIBLE FOR RECRUITING NEW BUSINESSES TO POLK COUNTY AND HELPING EXISTING BUSINESSES EXPAND. WE FOCUS ON DOMESTIC AND INTERNATIONAL BUSINESS RECRUITMENT AND EXPANSION, BUSINESS ADVOCACY, AND GLOBAL TRADE DEVELOPMENT IN CENTRAL FLORIDA'S POLK COUNTY. ORIGINALLY FOUNDED IN 1986, THE CENTRAL FLORIDA DEVELOPMENT COUNCIL, INC. (CFDC) BECAME A PRIVATE NOT-FOR-PROFIT ORGANIZATION OCTOBER 1, 2015 THROUGH A PARTNERSHIP WITH THE POLK COUNTY BOARD OF COUNTY COMMISSIONERS AND THE PRIVATE BUSINESS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Malott President & CEO | Officer | 40 | $152,232 |
Bart Allen Chair | OfficerTrustee | 3 | $0 |
Gene Conrad Secretary | OfficerTrustee | 3 | $0 |
Maggie Mariucci Vice Chair | OfficerTrustee | 3 | $0 |
Pete Frantzis Investor Relations Chair | Trustee | 3 | $0 |
Emery Smith Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $305,911 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,065,766 |
| 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 | $1,371,677 |
| Total Program Service Revenue | $180 |
| Investment income | $203 |
| 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 | $1,373,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,282 |
| 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. | $165,636 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $389,206 |
| Pension plan accruals and contributions | $11,650 |
| Other employee benefits | $69,841 |
| Payroll taxes | $39,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $235 |
| Fees for services: Accounting | $20,889 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,498 |
| Advertising and promotion | $149,906 |
| Office expenses | $27,250 |
| Information technology | $9,200 |
| Royalties | $0 |
| Occupancy | $65,420 |
| Travel | $5,525 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $136,293 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,433 |
| Insurance | $771 |
| All other expenses | $0 |
| Total functional expenses | $1,257,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $505,752 |
| Savings and temporary cash investments | $169,224 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000 |
| 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 | $70,496 |
| Net Land, buildings, and equipment | $82,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,394 |
| Total assets | $836,733 |
| Accounts payable and accrued expenses | $57,443 |
| Grants payable | $0 |
| Deferred revenue | $80,187 |
| 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 | $9,922 |
| Total liabilities | $147,552 |
| Net assets without donor restrictions | $519,957 |
| Net assets with donor restrictions | $169,224 |
| 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 | $836,733 |
Grants Awarded
Over the last fiscal year, Central Florida Development Council Inc has awarded $13,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Winter Haven, FL PURPOSE: SPONSORSHIP | $7,500 |
Lakeland, FL PURPOSE: INTERNATIONAL FLY-IN AND EXPO SPONSORSHIP | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Tri-County Community Council Inc Bonifay, FL | $6,451,084 | $10,551,381 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Economic Opportunities Council Of Indian River County Inc Vero Beach, FL | $1,869,765 | $6,434,584 |
Grand Avenue Economic Community Development Corp Orlando, FL | $15,324,319 | $6,865,821 |
University Area Community Development Corporation Inc Tampa, FL | $12,749,613 | $5,875,333 |
Fcs Urban Ministries Inc Atlanta, GA | $14,341,492 | $9,768,608 |
Pinellas Opportunity Council Inc Saint Petersburg, FL | $578,079 | $5,188,164 |
Florida Police Benevolent Association Inc Doral, FL | $8,588,040 | $5,522,405 |