Business Development Board Of Martin County Inc
- Assets
- $537.2k
- Revenue
- $569.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Stuart, FL
- Founding
- 07/1992
- Data as of
- 09/2022
- EIN
- 65-0255366
Organization Overview
Business Development Board Of Martin County Inc is located in Stuart, FL. The organization was established in 1992. 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 09/2022, Business Development Board Of Martin County Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Development Board Of Martin County Inc 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 09/2022, Business Development Board Of Martin County Inc generated $569.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $490.7k during the year ending 09/2022. While expenses have increased by 0.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CHAMPION AND STRENGTHEN MARTIN COUNTY'S ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARTING, GROWING, RETAINING AND WELCOMING NEW BUSINESSES AND INDUSTRIES IS CORE BUSINESS FOR THE BDB. IN FY 2022, THE BDB MADE 5 ECONOMIC ANNOUNCEMENTS WITH A JOBS IMPACT OF 294, A COMMERCIAL-INDUSTRIAL SPACE IMPACT OF 981,500 SQUARE FEET WITH A TOTAL DIRECT BUSINESS CAPITAL INVESTMENT OF $125.7 MILLION. SINCE TALENT-WORKFORCE REMAINS THE NUMBER ONE CONSIDERATION FOR A COMPANY MAKING A SITE SELECTION DECISION, THE BDB'S TALENT ADVANCEMENT TEAM, IN COLLABORATION WITH ECONOMIC AND COMMUNITY PARTNERS, SEEKS TO INCREASE THE TALENT POOL, ALIGN THE TALENT PIPELINE AND IMPROVE LABOR MARKET CONDITIONS.
RETAINING AND GROWING MARTIN COUNTY BUSINESSES AND COMPANIES ("GROW OUR OWN") THROUGH THE BDB'S PULSE PROGRAM COMPRISES OF BUSINESS SURVEYS, ONE-ON-ONE VISITS AND FACILITY TOURS IS A KEY ECONOMIC DEVELOPMENT STRATEGY. IN FY 2022, THE BDB CONDUCTED 79 PULSE VISITS, PUBLISHED THE INAUGURAL PULSE REPORT AND ASSISTED MORE THAN 781 BUSINESSES.
IN FY 2022, THE BDB PRODUCED ONE SIDE HUSTLE TO MAIN GIG, IN CONJUNCTION WITH ITS INVESTORS-CONTRIBUTORS AND THE SMALL BUSINESS DEVELOPMENT CENTER @ INDIAN RIVER STATE COLLEGE, DESIGNED TO ENCOURAGE MORE START-UPS IN MARTIN COUNTY.LAPTOP AND REIMBURSMENTS FOR NEW BUSINESS REGISTRATION FEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Goodrich Executive Director | Officer | 40 | $107,030 |
Jeff Leslie President | OfficerTrustee | 2 | $0 |
Patrick Gleason Secretary | OfficerTrustee | 2 | $0 |
Eric Kiehn President-Elect | OfficerTrustee | 2 | $0 |
Tomas Bueno Treasurer | Trustee | 0.3 | $0 |
Alessandro Anzalone Boardmember | Trustee | 0.3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $513,750 |
| Investment income | $42 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,765 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $569,166 |
| 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. | $107,030 |
| Compensation of current officers, directors, key employees. | $16,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,109 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,231 |
| Payroll taxes | $18,573 |
| 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 | $55,034 |
| Advertising and promotion | $0 |
| Office expenses | $17,896 |
| Information technology | $11,232 |
| Royalties | $0 |
| Occupancy | $30,555 |
| Travel | $2,150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,692 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,595 |
| All other expenses | $4,254 |
| Total functional expenses | $490,657 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $409,809 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,000 |
| 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 | $2,400 |
| 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 | $537,209 |
| Accounts payable and accrued expenses | $10,835 |
| Grants payable | $0 |
| Deferred revenue | $16,500 |
| 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 | $27,335 |
| Net assets without donor restrictions | $450,359 |
| Net assets with donor restrictions | $59,515 |
| 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 | $537,209 |
Grants Awarded
Over the last fiscal year, Business Development Board Of Martin County Inc has awarded $24,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CASTRONOVO CHOCOLATE LLC PURPOSE: BAP GRANT AWARD RECIPIENT | $5,000 |
ORGHUNTER LLC PURPOSE: BAP GRANT AWARD RECIPIENT | $5,000 |
TACKLE FOR LESS LLC PURPOSE: BAP GRANT AWARD RECIPIENT | $4,500 |
HANI HONEY COMPANY LLC PURPOSE: BAP GRANT AWARD RECIPIENT | $3,300 |
RAINMAKER NURSERIES LLC PURPOSE: BAP GRANT AWARD RECIPIENT | $2,500 |
PALM CITY DESIGNS INC PURPOSE: BAP GRANT AWARD RECIPIENT | $1,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
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 |