Business Development Board Of Palm Beach County
- Assets
- $3.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 13
- Location
- West Palm Beach, FL
- Founding
- 10/1982
- Data as of
- 09/2021
- EIN
- 59-2169828
Organization Overview
Business Development Board Of Palm Beach County is located in West Palm Beach, FL. The organization was established in 1982. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Business Development Board Of Palm Beach County employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Development Board Of Palm Beach County 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 09/2021, Business Development Board Of Palm Beach County generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $2.6m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 6 years. 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
COUNTYWIDE ECONOMIC DEVELOPMENT TO RECRUIT, RETAIN AND EXPAND COMPANIES TO CREATE JOBS FOR ALL RESIDENTS, COORDINATE BUSINESS DEVELOPMENT ACTIVITIES, IMPROVE ECONOMIC STABILITY, ENHANCE THE COUNTY'S TAX BASE, ASSIST ALL COMMUNITIES IN ATTRACTING OR RETAINING BUSINESSES AND TO COLLECT AND DISSEMINATE ECONOMIC DATA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RECRUITMENT, RETENTION, AND EXPANSION - TO CREATE HIGH-QUALITY JOBS, DIVERSIFY THE ECONOMIC BASE, AND RELOCATE NEW COMPANIES TO PALM BEACH COUNTY, AS WELL AS GROWTH AND RETENTION OF COMPANIES ALREADY LOCATED HERE.
MARKETING - MANAGE PROGRAMS THAT BUILD PUBLIC AWARENESS OF PALM BEACH COUNTY AS A GLOBALLY COMPETITIVE BUSINESS LOCATION. DEVELOP NATIONAL AND INTERNATIONAL MEDIA CAMPAIGNS TO PROMOTE THE COUNTY TO CEO'S LOOKING TO RELOCATE OR EXPAND THEIR OPERATIONS.
MEMBERSHIP DEVELOPMENT AND EVENTS - ENGAGE PALM BEACH COUNTY BUSINESS LEADERS IN MEMBERSHIP PROGRAMS AND EVENTS FOCUSED ON ECONOMIC DEVELOPMENT ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly L Smallridge President & CEO | Officer | 40 | $332,000 |
Lisa M Anderson VP Of Private Funding | 40 | $138,997 | |
Shereena L Coleman VP Of Business Facilitatio | 40 | $128,969 | |
Gary S Hines Senior VP Of Administratio | 40 | $127,056 | |
Robert Patrick Mino Former VP Of Life Sciences | 40 | $114,251 | |
Benjamin Boynton Past Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,291,760 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,291,760 |
| Total Program Service Revenue | $1,432,354 |
| Investment income | $50 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,005 |
| Net Income from Fundraising Events | $45,670 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,972,004 |
| 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. | $530,058 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $846,088 |
| Pension plan accruals and contributions | $38,210 |
| Other employee benefits | $125,083 |
| Payroll taxes | $89,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,212 |
| Advertising and promotion | $173,886 |
| Office expenses | $4,074 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,490 |
| Travel | $37,725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,800 |
| Interest | $49,793 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,862 |
| Insurance | $24,971 |
| All other expenses | $10,913 |
| Total functional expenses | $2,592,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,657,556 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,289 |
| 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 | $59,360 |
| Net Land, buildings, and equipment | $1,528,425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,364,630 |
| Accounts payable and accrued expenses | $23,126 |
| Grants payable | $0 |
| Deferred revenue | $2,880 |
| 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 | $1,209,736 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,571 |
| Total liabilities | $1,288,313 |
| Net assets without donor restrictions | $2,076,317 |
| 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 | $3,364,630 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Business Development Board Of Palm Beach County has recieved totaling $15,500.
| Awarding Organization | Amount |
|---|---|
Baptist Health Of South Florida Inc Coral Gables, FL PURPOSE: Gala photo booth sponsor | $10,500 |
Marine Industries Association Of Palm Beach County Inc North Palm Beach, FL PURPOSE: EVENT SPONSORSHIP | $2,500 |
Marine Industries Association Of Palm Beach County Inc North Palm Beach, FL PURPOSE: EVENT SPONSORSHIP | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Tri-County Community Council Inc Bonifay, FL | $6,451,084 | $10,551,381 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Economic Opportunities Council Of Indian River County Inc Vero Beach, FL | $1,869,765 | $6,434,584 |
Grand Avenue Economic Community Development Corp Orlando, FL | $15,324,319 | $6,865,821 |
University Area Community Development Corporation Inc Tampa, FL | $12,749,613 | $5,875,333 |
Fcs Urban Ministries Inc Atlanta, GA | $14,341,492 | $9,768,608 |
Pinellas Opportunity Council Inc Saint Petersburg, FL | $578,079 | $5,188,164 |
Florida Police Benevolent Association Inc Doral, FL | $8,588,040 | $5,522,405 |