Economic Development Commission Of Floridas Space Coast
- Assets
- $2.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 13
- Location
- Rockledge, FL
- Founding
- 03/1990
- Data as of
- 09/2021
- EIN
- 59-2946685
Organization Overview
Economic Development Commission Of Floridas Space Coast is located in Rockledge, FL. The organization was established in 1990. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Economic Development Commission Of Floridas Space Coast employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Commission Of Floridas Space Coast 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, Economic Development Commission Of Floridas Space Coast generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $2.3m 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
TO PROMOTE AND FOSTER ECONOMIC AND INDUSTRIAL DEVELOPMENT IN BREVARD COUNTY, FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC DEVELOPMENT COMMISSION OF FLORIDA'S SPACE COAST IS AN INNOVATIVE, COUNTYWIDE, NOT-FOR-PROFIT WORKING CLOSELY WITH THE SPACE COAST BUSINESS COMMUNITY, BUSINESS LEADERS, CHAMBERS OF COMMERCE, LOCAL AND STATE GOVERNMENT LEADERS, AND COMMUNITY ORGANIZATIONS. THE EDC IS DEDICATED TO ATTRACTING NEW BUSINESS AND INVESTMENT AND EXPANDING EXISTING INDUSTRY THROUGHOUT THE SPACE COAST, ADVOCATING FOR POSITIVE BUSINESS POLICIES, PROMOTING THE SPACE COAST TO ENCOURAGE NEW BUSINESS INVESTMENT, SUPPORTING EFFORTS OF SPACE COAST MILITARY INSTALLATIONS, AND DEVELOPING PROGRAMS TO ASSIST MANUFACTURING AND HIGH TECH COMPANIES. (CONTINUED ON SCHEDULE O)THE EDC GUIDES ITS PROGRAM OF WORK WITHIN THREE PRIMARY STRATEGIC PRIORITIES: 1. MAINTAIN A TARGETED INDUSTRY FOCUS CONCENTRATING EFFORTS ON FIVE KEY INDUSTRIES THAT SERVE AS CORE DRIVERS OF ECONOMY: AEROSPACE AND AVIATION, ADVANCED COMMUNICATIONS, ELECTRONICS, HOMELAND SECURITY AND DEFENSE, AND EMERGING TECHNOLOGIES. 2. ADVOCATE FOR A COMPETITIVE BUSINESS ENVIRONMENT3. ENGAGE COMMUNITY LEADERS AND ELECTED OFFICIALS, ENABLING THESE LEADERS TO SERVE AS ECONOMIC DEVELOPMENT ADVOCATES THROUGHOUT THE COMMUNITY. ALONGSIDE JOB GROWTH, THE EDC CONTINUES TO FOSTER THE CONDITIONS AND COALITIONS THAT LEAD TO OPPORTUNITIES FOR BUSINESS TO EXPAND AND OBTAIN QUALIFIED WORKFORCE. THESE PROGRAMS INCLUDE:THE CERTIFIED PRODUCTION TECHNICIAN PROGRAM, MOST COMMONLY KNOWN AS THE CPT PROGRAM, CONTINUES TO GROW, AS THE EDC BUILDS THE NEXT GENERATION OF BREVARD'S MANUFACTURING WORKFORCE. THIS COURSE CONTINUES TO NOT ONLY PROVIDE TRAINING, IT ALSO PROVIDES WORKFORCE-READY SKILLS WITH 88% OF CPT CERTIFIED STUDENTS SECURING EMPLOYMENT. THE PROGRAM HAS GROWN TO INCLUDE CAREER EXPOSURE TOURS, HR AND INTERVIEW SKILLS SESSIONS, AND PRIVATE JOB FAIRS.THE EDC LIVE BIG SPACE COAST CAMPAIGN ATTRACTS TOP TALENT TO SUPPORT THE WORKFORCE PIPELINE NEEDS OF LOCAL INDUSTRY.THIS PAST YEAR THE EDC TEAM MANAGED 29 NEW BUSINESS PROJECTS AND 83 NEW CLIENT LEADS. THE SPACE COAST IS RANKED AS THE #1 MOST INDUSTRY DIVERSIFIED ECONOMY IN FLORIDA. THIS REFLECTS THE EDC'S BUSINESS ATTRACTION EFFORTS TO DIVERSIFY OUR INDUSTRY BASE, PROVIDING ADDITIONAL AVENUES OF EMPLOYMENT AND LONG-TERM DURABILITY FOR BREVARD'S ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynda Weatherman President | Officer | 45 | $325,882 |
Trudy Mccarthy Sr Director Of Marketing | 45 | $123,425 | |
Julie K Song Chair | OfficerTrustee | 1 | $0 |
Joe T Mayer Past Chair | OfficerTrustee | 1 | $0 |
Bart Gaetjens Chair-Elect | OfficerTrustee | 2 | $0 |
Kirk Hall Sec/treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $734,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,732,903 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,269 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,575,422 |
| Total Program Service Revenue | $82,855 |
| Investment income | $751 |
| 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 | $2,659,028 |
| 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. | $368,323 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $743,294 |
| Pension plan accruals and contributions | $76,414 |
| Other employee benefits | $141,647 |
| Payroll taxes | $65,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,231 |
| Fees for services: Accounting | $62,991 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $122,775 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,502 |
| Advertising and promotion | $20,494 |
| Office expenses | $25,698 |
| Information technology | $43,223 |
| Royalties | $0 |
| Occupancy | $138,539 |
| Travel | $5,939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,035 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,024 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,329,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,143,042 |
| Savings and temporary cash investments | $1,007,436 |
| Pledges and grants receivable | $52,654 |
| Accounts receivable, net | $104,113 |
| 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 | $18,506 |
| Net Land, buildings, and equipment | $48,398 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,128 |
| Total assets | $2,384,277 |
| Accounts payable and accrued expenses | $158,247 |
| Grants payable | $0 |
| Deferred revenue | $459,035 |
| 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 | $0 |
| Total liabilities | $617,282 |
| Net assets without donor restrictions | $1,766,995 |
| 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 | $2,384,277 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Development Commission Of Floridas Space Coast has recieved totaling $96,414.
| Awarding Organization | Amount |
|---|---|
Floridamakes Inc Orlando, FL PURPOSE: NIST COOPERATIVE AGREEMENT - TO FACILITATE MEP ACTIVITIES IN ACCORDANCE WITH FLORIDAMAKES MISSION TO ESTABLISH, PROMOTE, MAINTAIN, AND EXPAND A STATEWIDE MEP IDENTITY. | $96,414 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Association Of Realtors Inc Miami, FL | $56,284,695 | $21,744,917 |
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Orlando Regional Realtor Association Inc Orlando, FL | $41,443,880 | $9,652,407 |
Jacksonville Regional Chamber Of Commerce Inc Jacksonville, FL | $9,462,619 | $9,572,618 |
Orlando Economic Partnership Inc Orlando, FL | $7,838,258 | $8,634,020 |
Florida Chamber Of Commerce Tallahassee, FL | $11,287,883 | $6,720,102 |
The Economic Development Partnership Of Alabama Inc Birmingham, AL | $16,193,879 | $5,250,949 |
Gwinnett Chamber Of Commerce Inc Duluth, GA | $6,627,911 | $6,072,892 |
Jacksonville And The Beaches Convention & Visitors Bureau Inc Jacksonville, FL | $1,089,102 | $5,103,594 |
Better Business Bureau Of Palm Beach County Inc West Palm Beach, FL | $4,183,669 | $5,496,948 |
Florida Rv Trade Association Riverview, FL | $9,475,092 | $4,511,413 |