Enterprise Florida Inc
- Assets
- $124.9m
- Revenue
- $26.2m
- Investments
- $50.0k
- Employees
- 88
- Location
- Orlando, FL
- Founding
- 10/1994
- Data as of
- 06/2021
- EIN
- 59-3165226
Organization Overview
Enterprise Florida Inc is located in Orlando, FL. The organization was established in 1994. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Enterprise Florida Inc employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise Florida 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 06/2021, Enterprise Florida Inc generated $26.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $17.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (11.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Enterprise Florida Inc has awarded 661 individual grants totaling $32,486,072. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENTERPRISE FLORIDA, INC. ("EFI") ACCOMPLISHES ITS MISSION OF FACILITATING JOB GROWTH FOR FLORIDA'S BUSINESSES AND CITIZENS BY FOCUSING ON A WIDE RANGE OF INDUSTRY SECTORS, INCLUDING CLEAN ENERGY, LIFE SCIENCES, INFORMATION TECHNOLOGY, AVIATION/AEROSPACE, HOMELAND SECURITY/DEFENSE, FINANCIAL/PROFESSIONAL SERVICES AND MANUFACTURING. IN COLLABORATION WITH A STATEWIDE NETWORK OF REGIONAL AND LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS, EFI HELPS TO IMPROVE FLORIDA'S BUSINESS CLIMATE, ENSURING THE STATE'S GLOBAL COMPETITIVENESS. EFI IS COMMITTED TO ASSISTING COMPANIES CONFIDENTIALLY WITH THEIR EXPANSION AND LOCATION PLANS. EFI PROVIDES SITE SELECTION SERVICES, DEMOGRAPHIC INFORMATION, INCENTIVE INFORMATION, TRADE LEADS AND MUCH MORE. WE ALSO COORDINATE INTRODUCTIONS TO OUR NETWORK OF ECONOMIC DEVELOPMENT PARTNERS LOCATED THROUGHOUT THE STATE.
Describe the Organization's Program Activity:
BUSINESS DEVELOPMENT - RESPONSIBLE FOR COORDINATING NATIONAL AND INTERNATIONAL BUSINESS DEVELOPMENT BY MANAGING PROJECTS TO INCREASE CAPITAL INVESTMENT AND JOBS IN FLORIDA. THE DIVISION ASSISTS BUSINESSES WITH SITE LOCATION IN ORDER TO FACILITATE JOB CREATION AND RETENTION WITHING THE STATE OF FLORIDA. THE DIVISION WORKS WITH COUNTIES TO ATTRACT HIGH QUALITY JOBS WITHIN THE STATE'S TARGETED INDUSTRIES. THE DIVISION FOSTERS RELATIONSHIPS WITH SITE SELECTORS, INDUSTRY LEADERS AND FLORIDA'S 67 LOCAL PARTNERS.
INTERNATIONAL TRADE AND DEVELOPMENT - FOCUSES ON INTERNATIONAL TRADE PROGRAMS TO EXPAND THE NUMBER OF FLORIDA COMPANIES EXPORTING FLORIDA PRODUCTS AND SERVICES. IT COORDINATES EVENTS FOR MARKETING AND PROMOTION OF FLORIDA FOR TRADE AND INVESTMENT. IT ALSO MANAGES KEY INTERNATIONAL RELATIONSHIPS TO IMPROVE FLORIDA'S INTERNATIONAL BUSINESS AND GLOBAL REPUTATION IN THE FOLLOWING COUNTRIES: BRAZIL, CANADA, GERMANY, ISRAEL, MEXICO, JAPAN, FRANCE, SOUTH AFRICA, SPAIN AND UNITED KINGDOM.
STRATEGIC PARTNERSHIPS - MAINTAINS AND ENHANCES RELATIONSHIPS WITH PRIMARY PARTNERS AND STAKEHOLDERS TO STRENGTHEN SUPPORT OF ECONOMIC DEVELOPMENT INITIATIVES AND INCREASE JOB GROWTH. IT MAINTAINS AND EXPANDS INVESTOR SUPPORT AND BOARD PARTICIPATION. IT ASSISTS COMMUNITIES BY INCREASING THEIR COMPETITIVENESS WHEN VYING FOR JOB CREATION PROJECTS. IT RETAINS AND MAXIMIZES OPPORTUNITIES TO ENHANCE THE DEPARTMENT OF DEFENSE INVESTMENT IN FLORIDA THROUGH MANAGEMENT OF DEFENSE GRANT PROGRAMS AND THE FLORIDA DEFENSE SUPPORT TASK FORCE ACTIVITIES.
OTHER PROGRAM SERVICES INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING: MINORITY AND SMALL BUSINESS, ENTREPRENEURSHIP AND CAPITAL - RESPONSIBLE FOR IDENTIFYING RESOURCE PROVIDERS FOR UNDERSERVED MINORITY AND SMALL BUSINESSES. IT ALSO ADMINISTERS SPECIAL CAPITAL PROGRAMS SUCH AS THOSE OF FLORIDA OPPORTUNITY FUND, AND SUPPORTS THE FLORIDA DEVELOPMENT FINANCE CORPORATION.MARKETING AND COMMUNICATIONS - ESTABLISHES AND BUILDS A PRO-BUSINESS IMAGE FOR THE STATE BY IDENTIFYING AND MARKETING FLORIDA TO TARGETED INDUSTRY DECISION MAKERS AND BUSINESS LEADERS. IT DEVELOPS, COORDINATES, AND IMPLEMENTS A STATEWIDE STRATEGIC PLAN FOR FLORIDA BRAND RECOGNITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamal Sowell President & CEO | Officer | 40 | $206,334 |
Manny Mencia SVP - It&d | Officer | 40 | $178,232 |
Robert Schlotman COO | Officer | 40 | $175,633 |
Timothy Vanderhoof SVP - Bus Dev | Officer | 40 | $166,164 |
Joe York Vice Chair | OfficerTrustee | 1 | $0 |
Ron Desantis Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oco Global International Office Managing Services | 6/29/21 | $341,175 |
Institute Of Advanced Finance International Office Managing Services | 6/29/21 | $165,000 |
Apco World Wide Advisory Services International Office Managing Services | 6/29/21 | $186,921 |
Pm & Partner Marketing Consulting International Office Managing Services | 6/29/21 | $165,000 |
Inteligencia Corporativa Ltda International Office Managing Services | 6/29/21 | $144,652 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,924,056 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,525,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,449,056 |
| Total Program Service Revenue | $1,711,606 |
| Investment income | $45 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$329 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,160,378 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,508,172 |
| 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. | $843,135 |
| Compensation of current officers, directors, key employees. | $442,289 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,407,502 |
| Pension plan accruals and contributions | $525,315 |
| Other employee benefits | $788,006 |
| Payroll taxes | $379,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,071 |
| Fees for services: Accounting | $64,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,232,826 |
| Advertising and promotion | $3,478,177 |
| Office expenses | $731,498 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $943,124 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97,960 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,425 |
| Insurance | $68,513 |
| All other expenses | $1,064 |
| Total functional expenses | $17,143,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $76,370,024 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,476 |
| 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 | $953,406 |
| Net Land, buildings, and equipment | $60,178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,000 |
| Investments—program-related | $35,616,101 |
| Intangible assets | $0 |
| Other assets | $11,684,672 |
| Total assets | $124,862,857 |
| Accounts payable and accrued expenses | $1,902,316 |
| Grants payable | $0 |
| Deferred revenue | $132,042 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $36,167,110 |
| 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 | $4,817,777 |
| Total liabilities | $43,019,245 |
| Net assets without donor restrictions | $32,784,830 |
| Net assets with donor restrictions | $49,058,782 |
| 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 | $124,862,857 |
Grants Awarded
Over the last fiscal year, Enterprise Florida Inc has awarded $709,756 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF JACKSONVILLE PURPOSE: MILITARY - DEFENSE INFRASTRUCTURE IMPROVEMENTS | $322,500 |
UNIVERSITY OF WEST FLORIDA PURPOSE: INTERNATIONAL EXPORT MARKETING PLANS GRANT | $117,000 |
HIGHLANDS COUNTY BOARD OF COUNTY COMMISSIONER PURPOSE: MILITARY - DEFENSE INFRASTRUCTURE IMPROVEMENTS | $39,493 |
CITY OF SEBRING PURPOSE: RURAL SITE PREPAREDNESS | $25,000 |
IBT ONLINE LLC PURPOSE: INTERNATIONAL WEBSITE LOCALIZATION GRANT | $24,000 |
UNION COUNTY BOARD OF COUNTY COMMISSIONERS PURPOSE: RURAL MARKETING & EDUCATION GRANT | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Enterprise Florida Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Florida Inc Orlando, FL | $124,862,857 | $26,160,378 |
Florida Strawberry Patent Service Corporation Dover, FL | $2,284,468 | $8,232,552 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Georgia Transportation Alliance Inc Atlanta, GA | $275,023 | $553,290 |
Csra Property Holding 2 Inc Augusta, GA | $0 | $95,187 |
Society Of Cosmetic Chemists Palm Coast, FL | $472,313 | $464,201 |
Aventura Marketing Council Inc Aventura, FL | $491,753 | $356,498 |
Kiwanis Peanut Day Inc Naples, FL | $0 | $0 |
Durham Foundation Annie Watts Hill Fund Orlando, FL | $6,794,105 | $1,016,591 |
Limestone County Economic Development Association Inc Athens, AL | $431,310 | $303,640 |
Pastoral Support Service Lakeland, FL | $51,482 | $242,916 |
John A Peterson Charitable Trust Montgomery, AL | $2,360,428 | $210,203 |