Suwannee River Economic Council Inc
- Assets
- $11.0m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 123
- Location
- Live Oak, FL
- Founding
- 06/1966
- Data as of
- 09/2021
- EIN
- 59-1101989
Organization Overview
Suwannee River Economic Council Inc is located in Live Oak, FL. The organization was established in 1966. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 09/2021, Suwannee River Economic Council Inc employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Suwannee River Economic Council Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Suwannee River Economic Council Inc generated $10.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $9.3m during the year ending 09/2021. While expenses have increased by 4.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ASSISTANCE TO THE DISADVANTAGED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW-INCOME HOME ENERGY ASSISTANCE
TRANSPORTATION DISADVANTAGED
SPECIAL PROGRAMS FOR THE AGING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Pearson Executive Director | Officer | 40 | $118,514 |
Barbara Hamric Director Of Finance | Officer | 40 | $97,148 |
Richard Tillis President | OfficerTrustee | 5 | $0 |
Oleatha Harris Secretary | OfficerTrustee | 5 | $0 |
Ricky Lyons Treasurer | OfficerTrustee | 5 | $0 |
Karen Cossey Vice President | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
G&a Food Service Inc Food Service | 9/29/21 | $587,414 |
Spicer Construction Housing | 9/29/21 | $454,913 |
Pournelle Construction Co Housing | 9/29/21 | $323,822 |
Metz Culinary Management Food Service | 9/29/21 | $175,594 |
Family Life Care Inc In Home Health Services | 9/29/21 | $216,299 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,691,422 |
| All other contributions, gifts, grants, and similar amounts not included above | $348,866 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,040,288 |
| Total Program Service Revenue | $744,009 |
| Investment income | $20,632 |
| 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 | $10,809,729 |
| 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. | $277,654 |
| Compensation of current officers, directors, key employees. | $63,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,161,492 |
| Pension plan accruals and contributions | $185,298 |
| Other employee benefits | $450,387 |
| Payroll taxes | $188,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,698 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,491 |
| Advertising and promotion | $1,399 |
| Office expenses | $79,411 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $288,361 |
| Travel | $90,119 |
| 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 | $352,180 |
| Insurance | $163,809 |
| All other expenses | $80,184 |
| Total functional expenses | $9,344,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,961,448 |
| Pledges and grants receivable | $1,774,295 |
| 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 | $127,223 |
| Prepaid expenses and deferred charges | $31,813 |
| Net Land, buildings, and equipment | $2,146,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,040,915 |
| Accounts payable and accrued expenses | $1,198,214 |
| 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 | $1,198,214 |
| Net assets without donor restrictions | $9,842,701 |
| 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 | $11,040,915 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Suwannee River Economic Council Inc has recieved totaling $3,618,762.
| Awarding Organization | Amount |
|---|---|
Mid-Florida Area Agency On Aging Inc Gainesville, FL PURPOSE: ELDERLY ASSISTANCE | $3,613,450 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $1,650 |
The Duke Energy Foundation Charlotte, NC PURPOSE: PUBLIC ASSISTANCE | $1,013 |
The Duke Energy Foundation Charlotte, NC PURPOSE: PUBLIC ASSISTANCE | $909 |
The Duke Energy Foundation Charlotte, NC PURPOSE: PUBLIC ASSISTANCE | $877 |
The Duke Energy Foundation Charlotte, NC PURPOSE: PUBLIC ASSISTANCE | $863 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of Saint Vincent De Paul Archdiocesan Council Of Miami Inc Pompano Beach, FL | $3,397,404 | $19,730,738 |
United Food Force Inc Mcdonough, GA | $2,007,344 | $13,651,508 |
North Fulton Community Charities Inc Roswell, GA | $11,894,105 | $9,822,757 |
Guadalupe Center Inc Immokalee, FL | $34,725,247 | $10,336,236 |
Suwannee River Economic Council Inc Live Oak, FL | $11,040,915 | $10,809,729 |
The Center For Family Resources Inc Marietta, GA | $3,412,600 | $7,984,553 |
United Food Bank And Services Of Plant City Inc Plant City, FL | $2,071,779 | $8,259,212 |
Jesus House Of Hope Inc Stuart, FL | $4,353,557 | $8,126,486 |
Law Enforcement Officers Relief Fund Inc Sarasota, FL | $947,291 | $7,460,031 |
Tarpon Springs Shepherd Center Inc Tarpon Springs, FL | $1,718,168 | $6,908,224 |
Interfaith Emergency Services Inc Ocala, FL | $5,963,488 | $6,296,674 |
Beaches Emergency Assistance Ministry Inc Jacksonville Beach, FL | $4,037,553 | $5,462,867 |