Okaloosa Community Development Corporation
- Assets
- $5.4m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Fort Walton Beach, FL
- Founding
- 12/1994
- Data as of
- 06/2017
- EIN
- 59-3165895
Organization Overview
Okaloosa Community Development Corporation is located in Fort Walton Beach, FL. The organization was established in 1994. 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 06/2017, Okaloosa Community Development Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Okaloosa Community Development Corporation 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 06/2017, Okaloosa Community Development Corporation generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $2.2m during the year ending 06/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR REDEVELOPMENT, PROMOTION, AND REHABILITATION OF THE CULTURAL, HISTORICAL, SOCIAL, PHYSICAL AND ECONOMIC ASPECTS OF OKALOOSA COUNTY, FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE HOUSING INITIATES PARTNERSHIP PROGRAM (SHIP) PROVIDES MONEY TO BE USED FOR VARIOUS STRATEGIES INCLUDING DOWN PAYMENT CLOSING COST ASSISTANCE, FORECLOSURE PREVENTION, MORTGAGE INTEREST RATE SUBSIDIES AND/OR DIRECT MORTGAGE LOANS TO VERY LOW, LOW, AND/OR MODERATE INCOME FAMILIES TO PURCHASE NEWLY CONSTRUCTED OR EXISTING AFFORDABLE HOUSING. FUNDING MAY ALSO PROVIDE EMERGENCY HOUSING REPAIRS, AND MATCHING FUNDS FOR FEDERAL PROGRAMS OR TO SUPPLEMENT FLORIDA HOUSING FINANCE CORPORATION PROJECTS UNDERTAKEN IN OKALOOSA COUNTY.
NEIGHBORHOOD STABILIZATION PROGRAM (NSP). THE OKALOOSA CDC SERVES IN A DEVELOPER CAPACITY FOR THE NSP PROGRAM AWARDED THROUGH OKALOOSA COUNTY. THE NSP PROGRAM FUNDS THE PURCHASE AND REDEVELOPMENT OF FORECLOSED AND ABANDONED HOMES AND RESIDENTIAL PROPERTIES WHICH ARE USED TO HOUSE INDIVIDUALS OR FAMILIES WHOSE INCOMES FALL WITHIN THE VERY LOW, LOW, AND MODERATE INCOME LEVELS OF THE AREAS MEDIUM INCOME.
INDEPENDENT LIVING PROGRAM PROVIDES RENTAL AND COUNSELING ASSISTANCE TO QUALIFIED TENANTS.
OTHER PROGRAM SERVICES, INCLUDING HARBOUR PLACE APARTMENTS, LLC WHICH WAS ORGANIZED FOR THE PURPOSE OF CONSTRUCTION OF AFFORDABLE HOUSING UNITS FOR THE HOMELESS IN OKALOOSA COUNTY. THE OKALOOSA CDC PARTNERED WITH THE COALITION FOR THE HOMESLESS (D/B/A FRESH START) TO RECONSTRUCT A 10 UNIT FACILITY AS PHASE I OF TRANSITIONAL HOUSING UNITS. THE OKALOOSA CDC HAS ALSO PARTNERED WITH FRESH START TO BEGIN CONSTRUCTION ON PHASE II OF THE APARTMENT COMPLEX. PHASE II WILL CONSIST OF 10 UNITS ADJACENT FROM THE EXISTING TRANSITIONAL PROPERTY.
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 |
|---|---|---|---|
James Robbins Executive Director | Trustee | 40 | $48,777 |
Aaron Wentz Chairman | Officer | 2 | $0 |
Nate Smith Secretary | Officer | 2 | $0 |
Michael Kent Treasurer | Officer | 2 | $0 |
Tammy Mcgaughy Co Chairman | Officer | 2 | $0 |
Gary Mcmorrow Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,083,446 |
| Investment income | $233 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,154 |
| 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 | $2,079,191 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $310,399 |
| 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 | $28,304 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,255 |
| Advertising and promotion | $0 |
| Office expenses | $5,486 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,655 |
| Travel | $10,057 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,298 |
| Insurance | $50,469 |
| All other expenses | $0 |
| Total functional expenses | $2,156,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $371,099 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $215,379 |
| 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 | $50,235 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $294,707 |
| Intangible assets | $0 |
| Other assets | $20,958 |
| Total assets | $5,445,394 |
| Accounts payable and accrued expenses | $153,771 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $50,107 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $414,159 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $71,115 |
| Total liabilities | $689,152 |
| Net assets without donor restrictions | $622,363 |
| Net assets with donor restrictions | $4,133,879 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $4,756,242 |
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 |