SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION (EIN 592195483) - 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

1982

Legal Domicile

Principal Officer

A BROOKE MIRENDA

Phone

8008502504

Tax Period

2024-10-01 to 2025-09-30

SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION, founded in 1982, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $2.0M left a modest 4% surplus.

Mission

THE ORGANIZATION WAS ESTABLISHED AS A PRIVATE, COMMUNITY-BASED NONPROFIT CORPORATION. THE ORGANIZATION'S PRIMARY OBJECTIVE IS TO FURTHER THE ECONOMIC AND SOCIAL WELFARE OF SMALL BUSINESS IN THE REGION AND STATE OF FLORIDA BY PROVIDING ASSISTANCE IN OBTAINING LONG-TERM FINANCING, AS WELL AS EDUCATING SMALL BUSINESS COMMUNITY GROUPS, ECONOMIC DEVELOPMENT ORGANIZATIONS AND LENDERS AS TO THE AVAILABILITY OF OTHER LENDING AND ECONOMIC DEVELOPMENT PROGRAMS.

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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 $0

Program Service Revenue $1,963,506

Investment Income $88,111

Other Revenue $500

TOTAL REVENUE $2,052,117

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,584,845

Fundraising Expenses $0

Program Expenses $1,726,932

Other Expenses $379,366

TOTAL EXPENSES $1,964,211

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,052,117	$1,834,387	+0.1%
Expenses	$1,964,211	$1,860,277	+0.1%
Net Income	$87,906	$-25,890	-4.4%

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

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

$268,906

Total Directors

$268,906

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
A BROOKE MIRENDA	PRESIDENT/CEO	40.00	Officer Director	$231,831	$37,075	$268,906
JAMES EDWARD NEWTON	CHAIR	0.20	Officer Director	$0	$0	$0
IRENE HURST	VICE-CHAIR	0.20	Officer Director	$0	$0	$0
FELIX HAYNES	SECRETARY	0.20	Officer Director	$0	$0	$0
ROBERT LAPLANT	TREASURER	0.20	Officer Director	$0	$0	$0
SCOTT KUHN	DIRECTOR	0.10	Director	$0	$0	$0
ARMANDO ROCHE	DIRECTOR	0.10	Director	$0	$0	$0
BRIAN LANGFORD	DIRECTOR	0.10	Director	$0	$0	$0
AARON SHERWOOD	DIRECTOR	0.10	Director	$0	$0	$0
CHELSEA MIODUSZEWSKI	SVP OF SALES & MARKETING	40.00	Highest	$136,962	$47,055	$184,017
MICHAEL FRID	SVP OF CREDIT MANAGER	40.00	Highest	$110,874	$34,933	$145,807

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	$2,052,117	$1,964,211	$6,417,458	$87,906
2024	$1,834,387	$1,860,277	$6,294,286	$-25,890
2023	$1,502,127	$1,803,144	$6,295,389	$-301,017
2022	$1,695,679	$1,837,606	$6,634,562	$-141,927
2021	$13,576,294	$12,493,890	$11,558,227	$1,082,404
2020	$1,441,864	$1,439,091	$9,820,697	$2,773
2019	$1,668,394	$1,278,750	$6,350,693	$389,644
2018	$1,165,510	$1,271,360	$5,891,342	$-105,850

SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION