Okeechobee County Economic Development Corporation
- Assets
- $740.0k
- Revenue
- $93.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Okeechobee, FL
- Founding
- 04/2019
- Data as of
- 09/2022
- EIN
- 83-1383460
Organization Overview
Okeechobee County Economic Development Corporation is located in Okeechobee, FL. The organization was established in 2019. 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. Okeechobee County Economic Development Corporation 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, Okeechobee County Economic Development Corporation generated $93.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (30.0%) each year. All expenses for the organization totaled $94.7k during the year ending 09/2022. 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 ENHANCE AND CAUSE QUALITY ECONOMIC GROWTH OF THE OKEECHOBEE COUNTY ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED EXCLUSEIVELY TO IMPLEMENT A COMPREHENSIVE ECONOMIC DEVELOPMENT PROGRAM FOCUSED UPON PRIMARY (CONTRIBUTORY ENTERPRISES FOR WHICH THE MARKET PLACE IS OUTSIDE OKEECHOBEE COUNTY) WHICH CAUSE ECONOMIC GROWTH INCLUDING BUT NOT LIMITED TO THE FOLLOWING: A. AN EXISTING INDUSTRY PROGRAM WHICH ENCOURAGES THE RETENTION AND EXPANSION OF PRIMARY-CONTRIBUTORY ENTERPRISES LOCATED IN OKEECHOBEE COUNTY. B. AN ATTRACTION-MARKETING PROGRAM WHICH CAUSES THE LOCATION OF PRIMARY- CONTRIBUTORY ENTERPRISES TO OKEECHOBEE COUNTY. C. A START-UP PROGRAM WHICH ENCOURAGES THE FORMATION OF PRIMARY-CONTIBUTORY ENTERPRISES IN OKEECHOBEE COUNTY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russ Brown Secretary | OfficerTrustee | 1 | $0 |
Frank Irby Past Chairma | OfficerTrustee | $0 | |
Jeff Sumner Vice Chairma | OfficerTrustee | 1 | $0 |
Wes Williamson Chairman | OfficerTrustee | 1 | $0 |
John Williams Treasurer | OfficerTrustee | 1 | $0 |
Terry Burroughs Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,050 |
| Total Program Service Revenue | $0 |
| Investment income | $3,158 |
| 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 | $93,208 |
| 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 | $46,007 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,843 |
| Advertising and promotion | $0 |
| Office expenses | $1,350 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,860 |
| All other expenses | $3,539 |
| Total functional expenses | $94,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,800 |
| Savings and temporary cash investments | $653,158 |
| 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 | $0 |
| Total assets | $739,958 |
| 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 | $739,958 |
| 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 | $739,958 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Okeechobee County Economic Development Corporation has recieved totaling $13,758.
| Awarding Organization | Amount |
|---|---|
Enterprise Florida Inc Orlando, FL PURPOSE: RURAL MARKETING & TRAINING GRANT | $6,879 |
Enterprise Florida Inc Orlando, FL PURPOSE: RURAL MARKETING & TRAINING GRANT | $6,879 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
The Miami-Dade Beacon Council Inc Miami, FL | $5,791,643 | $5,287,764 |
Sarasota Convention And Visitors Bureau Sarasota, FL | $1,250,974 | $4,640,700 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Woodlawn Foundation Inc Birmingham, AL | $23,281,492 | $7,022,697 |
East Tampa Business And Civic Association Inc Tampa, FL | $6,775,919 | $3,764,186 |
Mobile Convention & Visitors Corporation Mobile, AL | $2,719,162 | $3,833,596 |
Rowen Foundation Inc Lawrenceville, GA | $75,583,362 | $5,573 |
Southern Travel Directors Council Inc Travel South Usa Atlanta, GA | $2,576,734 | $2,286,917 |
Cartersville-Bartow County Tourism Council Cartersville, GA | $3,831,026 | $3,114,097 |
Dekalb Convention & Vistors Bureau Inc Tucker, GA | $3,443,154 | $2,769,408 |
Tuscaloosa Tourism And Sports Commission Inc Tuscaloosa, AL | $957,190 | $1,659,010 |