Pasco Economic Development Council Inc
- Assets
- $4.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 15
- Location
- Lutz, FL
- Founding
- 06/1981
- Data as of
- 09/2022
- EIN
- 59-2031062
Organization Overview
Pasco Economic Development Council Inc is located in Lutz, FL. The organization was established in 1981. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Pasco Economic Development Council Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pasco Economic Development 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 09/2022, Pasco Economic Development Council Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.2m during the year ending 09/2022. While expenses have increased by 8.8% 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
THE PASCO ECONOMIC DEVELOPMENT COUNCIL IS AN ECONOMIC DEVELOPMENT ORGANIZATION (NON-PROFIT) DEDICATED TO THE ECONOMIC DEVELOPMENT OF PASCO COUNTY, FLORIDA. THE ORGANIZATION WORKS TOGETHER WITH OTHER ENTITIES TO IMPROVE THE COUNTY ECONOMY AND QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED PROMOTIONAL MATERIAL ABOUT PASCO COUNTY FOR PRINT TO ATTRACT, RETAIN, AND PROMOTE THE EXPANSION OF BUSINESS AND INDUSTRY; PROVIDED TECHNICAL ASSITANCE AND TRAINING TO NEW AND EXPANDING BUSINESSES; PROVIDED LOW COST LOANS TO NEW AND EXPANDING BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Cronin President | Officer | 40 | $182,589 |
Timothy Beard Policy Counc | Trustee | $0 | |
Gina Abadir Director | Trustee | $0 | |
Courtney Bissett-Hayes At-Large | Trustee | $0 | |
Michael Carballa Ex Officio | Trustee | $0 | |
Tom Coletta At-Large | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $584,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,546,670 |
| All other contributions, gifts, grants, and similar amounts not included above | $129,652 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,261,072 |
| Total Program Service Revenue | $0 |
| Investment income | $47,146 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $52,552 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,360,770 |
| 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. | $195,729 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $658,889 |
| Pension plan accruals and contributions | $25,797 |
| Other employee benefits | $82,670 |
| Payroll taxes | $63,166 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,630 |
| Fees for services: Accounting | $25,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,454 |
| Advertising and promotion | $399,903 |
| Office expenses | $44,791 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $249,671 |
| Travel | $34,443 |
| 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 | $10,668 |
| Insurance | $9,926 |
| All other expenses | $63,065 |
| Total functional expenses | $2,222,403 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $852,535 |
| Savings and temporary cash investments | $2,683,903 |
| 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 | $689,519 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $68,522 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,772 |
| Other assets | $13,550 |
| Total assets | $4,349,801 |
| Accounts payable and accrued expenses | $3,587 |
| 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 | $144,810 |
| Total liabilities | $148,397 |
| Net assets without donor restrictions | $1,681,257 |
| Net assets with donor restrictions | $2,520,147 |
| 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 | $4,349,801 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Pasco Economic Development Council Inc has recieved totaling $126,000.
| Awarding Organization | Amount |
|---|---|
Santander Consumer Usa Inc Foundation Dallas, TX PURPOSE: SUPPORT FOR ENTREPRENEURS | $100,000 |
Withlacoochee River Electric Cooperative Inc Dade City, FL PURPOSE: GENERAL SUPPORT | $25,000 |
Cracchiolo Foundation Inc Tampa, FL PURPOSE: DONATION | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Bay Park Conservancy Inc Sarasota, FL | $16,645,209 | $18,178,827 |
Florida Opportunity Fund Inc Orlando, FL | $119,810,322 | $8,334,220 |
Florida Community Loan Fund Orlando, FL | $108,210,727 | $7,672,092 |
Bac Funding Corporation Miami, FL | $17,927,247 | $4,831,785 |
Community And Economic Development Quincy, FL | $11,268,446 | $5,882,256 |
Broward County Community Development Corporation Inc Fort Lauderdale, FL | $8,205,586 | $4,659,433 |
Miami Beach Community Development Corporation Inc Miami Beach, FL | $28,003,490 | $2,129,125 |
Neighbors And Neighbors Association Inc Miami, FL | $2,936,211 | $3,300,045 |
Pasco Economic Development Council Inc Lutz, FL | $4,349,801 | $2,360,770 |
Sunshine State Economic Development Corp Clearwater, FL | $6,634,562 | $1,695,679 |
Small Business Assistance Corp Savannah, GA | $17,970,431 | $1,539,306 |
Endeavor Miami Inc Miami, FL | $2,466,456 | $1,752,588 |