Florida First Capital Finance Corporation Inc
- Assets
- $141.8m
- Revenue
- $12.4m
- Investments
- $0.0
- Employees
- 72
- Location
- Tallahassee, FL
- Founding
- 10/1985
- Data as of
- 12/2021
- EIN
- 59-2515700
Organization Overview
Florida First Capital Finance Corporation Inc is located in Tallahassee, FL. The organization was established in 1985. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Florida First Capital Finance Corporation Inc employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida First Capital Finance Corporation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Florida First Capital Finance Corporation Inc generated $12.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $10.3m during the year ending 12/2021. While expenses have increased by 12.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ECONOMIC DEVELOPMENT ASSISTANCE AND ASSURING ACCESS TO CAPITAL FOR THE SMALL BUSINESS COMMUNITY IN THE STATE OF FLORIDA THROUGH LOAN PACKAGING, CLOSING, AND ADMINISTRATION UNDER FEDERAL, STATE AND LOCAL LOAN PROGRAMS. IN ADDITION TO ORDINARY LOAN PROGRAMS, THE ORGANIZATION DELIVERS AND ADMINISTERS FUNDS UNDER VARIOUS STATE EMERGENCY LOAN PROGRAMS FOR DISASTER-AFFECTED SMALL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS DEDICATED TO INSURING THAT SMALL BUSINESSES IN ITS AREA OF OPERATIONS MAINTAIN ADEQUATE ACCESS TO THE CAPITAL THEY REQUIRE TO GROW, PROSPER AND INCREASE EMPLOYMENT AND ECONOMIC ACTIVITY IN THE COMMUNITIES IN WHICH THEY OPERATE. THE ORGANIZATION IS AUTHORIZED TO ADMINISTER THE SMALL BUSINESS ADMINISTRATION 504 LOAN PROGRAM, WHICH IS DESIGNED TO PROVIDE ECONOMIC ASSISTANCE TO SMALL BUSINESSES, LOANS FROM THE FLORIDA RECYCLING DEVELOPMENT FUND, WHICH PROVIDES LOANS TO SMALL BUSINESSES AT COMPETITIVE INTEREST RATES TO ACQUIRE OR CONVERT RECYCLING EQUIPMENT AND/OR FUND RESEARCH AND DEVELOPMENT OF RECYCLING PROCESSES, AND LOAN PROGRAMS NECESSITATED BY VARIOUS DISASTERS THROUGHOUT THE STATE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd G Kocourek President & CEO | Officer | 55 | $619,751 |
Scott Radway Bdo | 55 | $571,897 | |
Alejandro Buitrago Bdo | 55 | $552,621 | |
Kristen Tackett Bdo | 55 | $435,369 | |
John Hanrahan Bdo | 55 | $322,494 | |
Deborah Petrell Sales Manager | 55 | $320,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $12,309,401 |
| Investment income | $92,738 |
| 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 | $12,402,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,570 |
| 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. | $707,719 |
| Compensation of current officers, directors, key employees. | $707,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,979,492 |
| Pension plan accruals and contributions | $980,210 |
| Other employee benefits | $833,511 |
| Payroll taxes | $368,021 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $644 |
| Fees for services: Accounting | $20,081 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,334 |
| Advertising and promotion | $65,211 |
| Office expenses | $282,142 |
| Information technology | $169,935 |
| Royalties | $0 |
| Occupancy | $164,629 |
| Travel | $16,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,120 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,125 |
| Insurance | $47,201 |
| All other expenses | $47,563 |
| Total functional expenses | $10,250,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,494,986 |
| Savings and temporary cash investments | $27,522,110 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,382,888 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,125,661 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $56,383 |
| Net Land, buildings, and equipment | $1,229,350 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,353 |
| Total assets | $141,828,731 |
| Accounts payable and accrued expenses | $447,681 |
| 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 | $128,692,556 |
| Total liabilities | $129,140,237 |
| Net assets without donor restrictions | $12,688,494 |
| 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 | $141,828,731 |
Grants Awarded
Over the last fiscal year, Florida First Capital Finance Corporation Inc has awarded $15,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Miami, FL PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
Hollywood, FL PURPOSE: CHARITABLE CONTRIBUTION | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Business Development Corporation Tampa, FL | $33,289,618 | $11,353,738 |
Florida First Capital Finance Corporation Inc Tallahassee, FL | $141,828,731 | $12,402,139 |
Black Business Investments Fund Inc Orlando, FL | $36,658,367 | $11,605,292 |
Innovation Depot Inc Birmingham, AL | $15,832,125 | $3,165,143 |
Hispanic Business Initiative Fund Of Florida Inc Orlando, FL | $4,121,804 | $3,822,531 |
Tampa Bay Wave Inc Tampa, FL | $1,054,674 | $1,625,044 |
The Southern Development Council Inc Mountain Brook, AL | $5,076,770 | $1,106,394 |
The Catalyst Center For Business & Entrepreneurship Huntsville, AL | $634,732 | $1,362,873 |
Curiosity Lab At Peachtree Corners Inc Peachtree Corners, GA | $759,235 | $737,622 |
Beaver Street Enterprise Center Inc Jacksonville, FL | $195,250 | $407,360 |
Birmingham Business Resource Center Inc Birmingham, AL | $2,142,207 | $111,250 |
Marietta Welcome Center Inc Marietta, GA | $323,025 | $326,253 |