Bradenton Area Economic Development Corporation
- Assets
- $1.9m
- Revenue
- $989.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Bradenton, FL
- Founding
- 07/2012
- Data as of
- 12/2023
- EIN
- 45-4006592
Organization Overview
Bradenton Area Economic Development Corporation is located in Bradenton, FL. The organization was established in 2012. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Bradenton Area Economic Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bradenton Area 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 12/2023, Bradenton Area Economic Development Corporation generated $989.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $997.9k during the year ending 12/2023. While expenses have increased by 1.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE BRADENTON AREA EDC WORKS TO DIVERSIFY THE LOCAL ECONOMY BY ATTRACTING AND RETAINING HIGH-WAGE JOBS FOR AREA RESIDENTS, AND CONNECTING ESTABLISHED BUSINESSES TO THE RESOURCES THEY NEED TO SUCCEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RETENTION/EXPANSION: TO RETAIN EXISTING HIGH-IMPACT BUSINESSES IN MANATEE COUNTY FLORIDA BY ASSISTING WITH FACILITY EXPANSIONS, WORKFORCE ISSUES, CONNECTIONS TO GRANTS, INCENTIVES, INFORMATION RESOURCES AND INTERNATIONAL TRADE.
BUSINESS RETENTION/EXPANSION: TO ATTRACT NEW, HIGH-IMPACT COMPANIES TO MANATEE COUNTY BY ESTABLISHING AN ACTIVE, PROSPECT-DRIVEN OUTREACH MARKETING PROGRAM THAT BUILDS UPON DIFFERENTIATING RESOURCES, ESTABLISHED INTERNATIONAL CONNECTIONS, POSITIVE BUSINESS ENVIRONMENT AND AN ATTRACTIVE QUALITY OF LIFE.
WORKFORCE DEVELOPMENT: TO IDENTIFY, DEVELOP, AND CONNECT WORKFORCE RESOURCES AND TALENT TO SUPPORT THE GROWTH OF EXISTING AND TARGETED NEW INDUSTRIES, WHICH CREATE EMPLOYMENT OPPORTUNITIES IN SUSTAINABLE, HIGH-SKILL, HIGH-WAGE JOBS. CONNECT BUSINESSES WITH INFORMATION ABOUT WORKFORCE GRANTS AND TRAINING PROGRAMS AVAILABLE AT THE FEDERAL, STATE, REGIONAL AND LOCAL LEVEL. INTERACT WITH REGIONAL COLLEGES, UNIVERSITIES AND TECHNOLOGY COMPANIES TO PROMOTE TECHNOLOGY DEVELOPMENT, GRANT/RESEARCH COLLABORATION, THE BUILDING OF START-UP COMPANIES, AND TO ENCOURAGE MORE STUDENTS TO PURSUE TECHNOLOGY STUDIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Hanan Chair | OfficerTrustee | 5 | $0 |
Dr Karen Holbrook Chair-Elect | OfficerTrustee | 5 | $0 |
Chris Cianfaglione Secretary | OfficerTrustee | 5 | $0 |
Nathan Bailey Treasurer | OfficerTrustee | 5 | $0 |
David Sessions Past Chair | OfficerTrustee | 5 | $0 |
Allison Imre Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $403,704 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,408 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $422,112 |
| Total Program Service Revenue | $480,249 |
| Investment income | $40,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$18,972 |
| Net Income from Fundraising Events | $64,722 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $989,048 |
| 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. | $249,860 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,408 |
| Pension plan accruals and contributions | $8,258 |
| Other employee benefits | $28,642 |
| Payroll taxes | $38,348 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,458 |
| Fees for services: Accounting | $56,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,001 |
| Fees for services: Other | $0 |
| Advertising and promotion | $88,768 |
| Office expenses | $15,921 |
| Information technology | $7,161 |
| Royalties | $0 |
| Occupancy | $40,378 |
| 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 | $7,506 |
| Insurance | $4,136 |
| All other expenses | $0 |
| Total functional expenses | $997,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,580 |
| Savings and temporary cash investments | $214,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,340 |
| 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 | $27,284 |
| Net Land, buildings, and equipment | $10,557 |
| Investments—publicly traded securities | $1,450,559 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $134,006 |
| Total assets | $1,884,122 |
| Accounts payable and accrued expenses | $31,230 |
| Grants payable | $0 |
| Deferred revenue | $5,650 |
| 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 | $135,904 |
| Total liabilities | $172,784 |
| Net assets without donor restrictions | $1,711,338 |
| 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 | $1,884,122 |