Pasco Economic Development Council Inc
- Assets
- $5.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Lutz, FL
- Founding
- 06/1981
- Data as of
- 09/2023
- 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 09/2023, 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 09/2023, Pasco Economic Development Council Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $2.5m during the year ending 09/2023. While expenses have increased by 9.2% per year over the past 8 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 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 |
|---|---|---|---|
Sheylla Aceves Director | Trustee | $0 | |
John Allgeier Director | Trustee | $0 | |
Alain Fernandez Director | Trustee | $0 | |
Mark Hale Director | Trustee | $0 | |
Michael Carballa Ex Officio | Trustee | $0 | |
Dr Jesse Pisors Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $527,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,580,130 |
| All other contributions, gifts, grants, and similar amounts not included above | $322,707 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,430,587 |
| Total Program Service Revenue | $0 |
| Investment income | $89,349 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $48,536 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,568,472 |
| 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. | $195,159 |
| Compensation of current officers, directors, key employees. | $9,758 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $723,870 |
| Pension plan accruals and contributions | $39,069 |
| Other employee benefits | $110,084 |
| Payroll taxes | $68,813 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,292 |
| Fees for services: Accounting | $26,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $164,799 |
| Advertising and promotion | $476,484 |
| Office expenses | $43,927 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $214,139 |
| Travel | $46,728 |
| 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 | $22,752 |
| Insurance | $11,648 |
| All other expenses | $55,455 |
| Total functional expenses | $2,491,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $853,109 |
| Savings and temporary cash investments | $2,704,308 |
| 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 | $694,029 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $131,615 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $37,296 |
| Other assets | $562,092 |
| Total assets | $4,982,449 |
| Accounts payable and accrued expenses | -$754 |
| 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 | $704,484 |
| Total liabilities | $703,730 |
| Net assets without donor restrictions | $1,728,576 |
| Net assets with donor restrictions | $2,550,143 |
| 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 | $4,982,449 |