SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION

EIN: 592195483 501(c)(3)

CLEARWATER, FL

Total Revenue
$2,052,117
Total Expenses
$1,964,211
Total Assets
$6,417,458
Net Assets
$5,503,717
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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
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

ECONOMIC DEVELOPMENT WITHIN THE STATE OF FLORIDA.

Program Service Accomplishments

Program 1
Expenses: $1,726,932 Revenue: $1,963,506

SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION (SEDCO) ASSISTS SMALL BUSINESSES, AS DEFINED BY THE SMALL BUSINESS ADMINISTRATION, IN OBTAINING LOANS TO EITHER EXPAND THEIR BUSINESS OR REFINANCE...

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SUNSHINE STATE ECONOMIC DEVELOPMENT CORPORATION (SEDCO) ASSISTS SMALL BUSINESSES, AS DEFINED BY THE SMALL BUSINESS ADMINISTRATION, IN OBTAINING LOANS TO EITHER EXPAND THEIR BUSINESS OR REFINANCE EXISTING PREVIOUSLY OBTAINED DEBT. IN ADDITION, SEDCO, THROUGH THE USE OF ITS INTERNALLY GENERATED FUND, OPERATES A PROGRAM DESIGNED TO FOSTER WOMEN AND MINORITY BASED BUSINESS.

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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 (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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Governance

Voting Members
9
Independent Members
8
Employees
16
Volunteers
8

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
5
$268,906
Total Directors
9
$268,906
Key Employees
0
$0
Highest Compensated
2
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
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