Community Economic Development Assoc d/b/a FloridaWest Economic Development (EIN 471954665) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

Chris Plate

Phone

8508982201

Tax Period

2024-10-01 to 2025-09-30

Community Economic Development Assoc d/b/a FloridaWest Economic Development, founded in 2014, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $1.1M left a modest 14% surplus.

Mission

Promote business development in Pensacola and Escambia County.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,204,946

Program Service Revenue $125,769

Investment Income $3,919

Other Revenue $6,142

TOTAL REVENUE $1,340,776

Expense Breakdown

Grants Paid $0

Salaries & Benefits $549,493

Fundraising Expenses $0

Program Expenses $593,038

Other Expenses $598,427

TOTAL EXPENSES $1,147,920

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,340,776	$1,899,003	-0.3%
Expenses	$1,147,920	$1,279,134	-0.1%
Net Income	$192,856	$619,869	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$174,154

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Bear	President	1.00	Officer Director	$0	$0	$0
Ryan Tilley	Vice President	1.00	Officer Director	$0	$0	$0
Charletha Powell	Secretary	1.00	Officer Director	$0	$0	$0
Olevia McNally	Treasurer	1.00	Officer Director	$0	$0	$0
Donnie McMahon	Director	1.00	Director	$0	$0	$0
Matt Davis	Director	1.00	Director	$0	$0	$0
Don Palmer	Director	1.00	Director	$0	$0	$0
Jim Waite	Director	1.00	Director	$0	$0	$0
Chris Plaeger	Investor	1.00	Director	$0	$0	$0
KC Gartman	Investor	1.00	Director	$0	$0	$0
Kelvin Enfinger	Investor	1.00	Director	$0	$0	$0
Justin Beck	Investor	1.00	Director	$0	$0	$0
Charlie Sherrill	Investor	1.00	Director	$0	$0	$0
Mike Morette	Investor	1.00	Director	$0	$0	$0
Mark Roy	Investor	1.00	Director	$0	$0	$0
Ed Meadows	Investor	1.00	Director	$0	$0	$0
Marcus McBride	Investor	1.00	Director	$0	$0	$0
Rick Byars	Interim CEO	40.00	Officer	$0	$0	$0
Chris Plate	CEO	40.00	Officer	$148,500	$25,654	$174,154

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,340,776	$1,147,920	$1,735,729	$192,856
2024	$1,899,003	$1,279,134	$1,813,239	$619,869
2023	$1,184,018	$1,177,158	$929,668	$6,860
2022	$1,163,356	$1,308,620	$509,626	$-145,264
2021	$1,371,951	$1,357,412	$663,389	$14,539
2020	$1,187,892	$1,250,286	$683,155	$-62,394
2019	$1,136,016	$1,191,859	$687,732	$-55,843
2018	$1,059,035	$1,003,556	$735,111	$55,479

Community Economic Development Assoc d/b/a FloridaWest Economic Development