BUSINESS DEVELOPMENT BOARD OF PALM BEACH COUNTY INC

EIN: 592169828

WEST PALM BEACH, FL

Total Revenue
$3,314,018
Total Expenses
$3,140,003
Total Assets
$3,696,331
Net Assets
$3,180,588
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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
1982
Legal Domicile
FL
Principal Officer
KELLY SMALLRIDGE
Phone
5618351008
Tax Period
2023-10-01 to 2024-09-30

BUSINESS DEVELOPMENT BOARD OF PALM BEACH COUNTY INC, founded in 1982, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2023. Expenses of $3.1M left a modest 5% surplus.

Mission

COUNTYWIDE ECONOMIC DEVELOPMENT TO RECRUIT, RETAIN AND EXPAND COMPANIES TO CREATE JOBS FOR ALL RESIDENTS, COORDINATE BUSINESS DEVELOPMENT ACTIVITIES, IMPROVE ECONOMIC STABILITY, ENHANCE THE COUNTY'S TAX BASE, ASSIST ALL COMMUNITIES IN ATTRACTING OR RETAINING BUSINESSES AND TO COLLECT AND DISSEMINATE ECONOMIC DATA.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,740,249
Program Service Revenue $1,431,546
Investment Income $71,421
Other Revenue $70,802
TOTAL REVENUE $3,314,018

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,002,120
Fundraising Expenses $0
Other Expenses $1,137,883
TOTAL EXPENSES $3,140,003

Year-over-Year Comparison

2023 2022 Change
Revenue $3,314,018 $3,370,631 0.0%
Expenses $3,140,003 $3,010,061 +0.0%
Net Income $174,015 $360,570 -0.5%
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

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Governance

Voting Members
51
Independent Members
49
Employees
14
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
6
$639,495
Total Directors
53
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMIT RASTOGI DIRECTOR 2.00
Director
$0 $0 $0
ART MENOR EX-OFFICIO 2.00
Director
$0 $0 $0
AVA L PARKER EX-OFFICIO 2.00
Director
$0 $0 $0
BENJAMIN BOYNTON DIRECTOR 2.00
Director
$0 $0 $0
BOBBY D'ANGELO DIRECTOR 2.00
Director
$0 $0 $0
BRENDAN LYNCH DIRECTOR 2.00
Director
$0 $0 $0
BRIAN SEYMOUR CHAIR 2.00
Officer Director
$0 $0 $0
CAREY O'DONNELL DIRECTOR 2.00
Director
$0 $0 $0
COLONEL ANTONIO ARAUJO DIRECTOR 2.00
Director
$0 $0 $0
CRESSMAN BRONSON DIRECTOR 2.00
Director
$0 $0 $0
DAN CANE DIRECTOR 2.00
Director
$0 $0 $0
DAVID NICHOLSON DIRECTOR 2.00
Director
$0 $0 $0
DEANA PIZZO DIRECTOR 2.00
Director
$0 $0 $0
DESMOND GREENE DIRECTOR 2.00
Director
$0 $0 $0
DON KISELEWSKI DIRECTOR 2.00
Director
$0 $0 $0
DONIA A ROBERTS DIRECTOR 2.00
Director
$0 $0 $0
ERICK STRATI DIRECTOR 2.00
Director
$0 $0 $0
FABIOLA BRUMLEY DIRECTOR 2.00
Director
$0 $0 $0
FRANCISCO GONZALEZ DIRECTOR 2.00
Director
$0 $0 $0
FRANK COMPIANI DIRECTOR 2.00
Director
$0 $0 $0
GEORGE ELMORE DIRECTORS 2.00
Director
$0 $0 $0
GEORGE GENTILE DIRECTOR 2.00
Director
$0 $0 $0
GINA MELBY DIRECTOR 2.00
Director
$0 $0 $0
GORDON SPRINGMYER DIRECTOR 2.00
Director
$0 $0 $0
GRASFORD W SMITH DIRECTOR 2.00
Director
$0 $0 $0
HARVEY OYER PAST CHAIR 2.00
Director
$0 $0 $0
JAKE GELEERD DIRECTOR 2.00
Director
$0 $0 $0
JOE JACOBS DIRECTOR 2.00
Director
$0 $0 $0
JUAN TAGLE TREASURER 2.00
Officer Director
$0 $0 $0
JULIA DATTOLO EX-OFFICIO 2.00
Director
$0 $0 $0
KEITH SPINA DIRECTOR 2.00
Director
$0 $0 $0
KEITH WEDGWORTH DIRECTOR 2.00
Director
$0 $0 $0
KEN HIMMEL DIRECTOR 2.00
Director
$0 $0 $0
KEN KAHN DIRECTOR 2.00
Director
$0 $0 $0
KENNETH R KENNERLY DIRECTOR 2.00
Director
$0 $0 $0
KYLE GOEBEL DIRECTOR 2.00
Director
$0 $0 $0
MARIA SACHS DIRECTOR 2.00
Director
$0 $0 $0
MARK BELLISSIMO DIRECTOR 2.00
Director
$0 $0 $0
MARTY CASS DIRECTOR 2.00
Director
$0 $0 $0
MATTHEW ENOCHS DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL BURKE EX-OFFICIO 2.00
Director
$0 $0 $0
MICHAEL KOHNER DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL PRINCE VICE CHAIR 2.00
Officer Director
$0 $0 $0
MICHELLE MCGOVERN SECRETARY 2.00
Officer Director
$0 $0 $0
MITCHELL HARRIS DIRECTOR 2.00
Director
$0 $0 $0
MUKANG CHO DIRECTOR 2.00
Director
$0 $0 $0
NEIL MERIN DIRECTOR 2.00
Director
$0 $0 $0
NOREEN PAYNE DIRECTOR 2.00
Director
$0 $0 $0
PAM TAHAN DIRECTOR 2.00
Director
$0 $0 $0
PEPE FANJUL JR DIRECTOR 2.00
Director
$0 $0 $0
RICHARD BERNSTEIN DIRECTOR 2.00
Director
$0 $0 $0
RICHARD RENDINA DIRECTOR 2.00
Director
$0 $0 $0
VARISA LALL DASS DIRECTOR 2.00
Director
$0 $0 $0
KELLY L SMALLRIDGE PRESIDENT & CEO 40.00
Officer
$453,846 $19,731 $473,577
LISA M ANDERSON VP OF PRIVATE FUNDING 40.00
Officer
$156,157 $9,761 $165,918
GARY S HINES SENIOR VP OF ADMINISTRATIO 40.00
Highest
$111,677 $3,587 $115,264
KRISTEN M BOYD VP OF ECONOMIC DEVELOPMENT 40.00
Highest
$109,237 $1,300 $110,537
TIMOTHY M DOUGHER VP OF BUSINESS RECRUITEMEN 40.00
Highest
$126,817 $0 $126,817
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
2024 $3,314,018 $3,140,003 $3,696,331 $174,015
2023 $3,370,631 $3,010,061 $3,868,787 $360,570
2022 $3,393,134 $2,880,195 $3,656,991 $512,939
2021 $2,972,004 $2,592,345 $3,364,630 $379,659
2020 $3,032,664 $2,714,835 $3,086,414 $317,829
2018 $2,798,963 $3,064,220 $2,717,233 $-265,257
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