The Beacon Council Economic Development Foundation Inc
- Assets
- $2.3m
- Revenue
- $624.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami, FL
- Founding
- 05/1987
- Data as of
- 09/2021
- EIN
- 59-2738676
Organization Overview
The Beacon Council Economic Development Foundation Inc is located in Miami, FL. The organization was established in 1987. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Council Economic Development Foundation 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, Beacon Council Economic Development Foundation Inc generated $624.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $637.8k during the year ending 09/2021. While expenses have increased by 10.4% 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
THE FOUNDATION OPERATES EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES AS FOLLOWS: (A) TO COMPILE, PREPARE, AND PUBLISH STATISTICAL DATA CONCERNING MIAMI-DADE COUNTY, FLORIDA AND MAKE SUCH DATA AVAILABLE TO ALL SEGMENTS OF THE COMMUNITY; (B) TO LESSEN THE BURDENS OF GOVERNMENT; (C) TO COMBAT COMMUNITY DETERIORATION; AND (D) TO DO ALL LAWFUL ACTS INCIDENTAL TO THE ACCOMPLISHMENT OF SAID CHARITABLE AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE COMMUNITY ONE GOAL TARGETED INDUSTRY STUDY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yolanda Cash Jackson Secretary | OfficerTrustee | 0.2 | $0 |
Olga Ramudo Treasurer | OfficerTrustee | 0.2 | $0 |
Gary Goldfarb Chair | OfficerTrustee | 0.2 | $0 |
Michael A Finney President And CEO | Officer | 0.2 | $0 |
Camela Glean-Jones CFO And Evp Budget & Admin | Officer | 0.2 | $0 |
George Bermudez Chair-Elect | Trustee | 0.2 | $0 |
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 | $624,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $624,038 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $624,041 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $130,910 |
| Advertising and promotion | $75,341 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $324 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,508 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,378 |
| All other expenses | $0 |
| Total functional expenses | $637,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,578,052 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $668,398 |
| 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 | $12,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,258,450 |
| Accounts payable and accrued expenses | $379,325 |
| Grants payable | $0 |
| Deferred revenue | $1,839,992 |
| 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 | $5,678 |
| Total liabilities | $2,224,995 |
| Net assets without donor restrictions | $33,455 |
| 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 | $2,258,450 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Beacon Council Economic Development Foundation Inc has recieved totaling $425,000.
| Awarding Organization | Amount |
|---|---|
Rockefeller Foundation New York, NY PURPOSE: IN SUPPORT OF PROVIDING A TECHNICAL ASSISTANCE PROGRAM FOR BLACK- AND LATINX-OWNED SMALL- AND MICROBUSINESSES IN MIAMI-DADE COUNTY IN AN EFFORT TO ACCELERATE THE COMMUNITY'S ECONOMIC RECOVERY FROM THE COVID-19 CRISIS | $350,000 |
Baptist Health Of South Florida Inc Coral Gables, FL PURPOSE: Support Miami Community Ventures project aimed at connecting low income individuals with living wage jobs for the long term | $50,000 |
Pricewaterhouse Coopers Charitable Foundation New York, NY PURPOSE: Education | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
The Miami-Dade Beacon Council Inc Miami, FL | $5,791,643 | $5,287,764 |
Sarasota Convention And Visitors Bureau Sarasota, FL | $1,250,974 | $4,640,700 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Woodlawn Foundation Inc Birmingham, AL | $23,281,492 | $7,022,697 |
East Tampa Business And Civic Association Inc Tampa, FL | $6,775,919 | $3,764,186 |