FIRST COAST MANUFACTURERS ASSOCIATION

EIN: 592922415

Jacksonville, FL

Total Revenue
$508,079
Total Expenses
$398,916
Total Assets
$476,825
Net Assets
$157,114
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
FL
Phone
9042969664
Tax Period
2023-01-01 to 2023-12-31

FIRST COAST MANUFACTURERS ASSOCIATION, founded in 1990, is a small nonprofit that reported $508K in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $109K, a strong 21% operating margin.

Mission

A member supported association providing a united voice to government and pathways to member success through education, workforce development, and business to business relationships.

Program Service Accomplishments

Program 1

2023 First Coast Manufacturers Association Accomplishments This year has been exciting for FCMA as companies continue to emerge from the longer-term impacts of the Covid shutdown. Businesses are...

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2023 First Coast Manufacturers Association Accomplishments This year has been exciting for FCMA as companies continue to emerge from the longer-term impacts of the Covid shutdown. Businesses are growing in strength and production while things return to near normal levels. The softened participation in Association events, had a complete reversal this year as attendance returned at our events. We want to share some highlights from this year at FCMA. The second Roundtable event gave insight on the banking crises, artificial intelligence and continued supply chain issues. Participation grew as we provided information on key policy and business issues. Our Symposium participation increased over 20% over last year with topics on future business interactions in a digital age, the new workforce approach employment, topped with a panel discussion lead by Congressman Arron Bean on supply chain, economic outlook and supply chain. Government policies continue to create opportunities and challenges. We had a great year working through our partnership in FloridaMakes by providing policy changes in the legislature, laying the groundwork for increased resources and grants for our members in 2024. FCMA continues providing workshops and committee action to identify changes in policies, mandates and legislation as a resource for managing these issues. Currently, we are monitoring potential impacts of increased energy cost and emerging policy pertaining to carbon emissions. We anticipate energy and carbon emissions will continue to have key financial impacts to operational costs. This year we continued to have multi participation options for in-person and virtual meetings, remaining focused on in-person meetings to create network opportunities. Our Leadership Academy courses were very active this year, including Professional Progress which returned to help personal interaction skills and develop relationships skills. Plans are underway for next year's classes. I hope you will plan to participate in these outstanding programs. The Legislative days were held this year after a three-year pause giving our members the opportunity to meet legislators and discuss important statewide matters. Plans are underway next year to participate with FloridaMakes to join with manufacturers around the state in our legacy event. The annual golf outing held in May was near capacity. Excellence in Manufacturing annual awards program to recognize our manufacturers, partners and employees was held in October. We hosted almost 350 participants as we enjoyed recognizing our manufacturers' accomplishments throughout the year. Plans are already underway to make next year's event even bigger and better. This year's success was also visible in our Lunch with Lake and Lunch with Clay (Yarbrough), giving members opportunities to socialize and network. We are looking forward to closing our year out with our Holiday Party with a special venue at the Igloo. Thanks to all who have supported and participated with our Association. Please take a moment to renew your membership so can continue to serve you. With kind regards, Lake Ray III

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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 $0
Program Service Revenue $253,012
Investment Income $0
Other Revenue $255,067
TOTAL REVENUE $508,079

Expense Breakdown

Grants Paid $0
Salaries & Benefits $297,846
Fundraising Expenses $0
Program Expenses $0
Other Expenses $101,070
TOTAL EXPENSES $398,916

Year-over-Year Comparison

2023 2022 Change
Revenue $508,079 $387,477 +0.3%
Expenses $398,916 $426,602 -0.1%
Net Income $109,163 $-39,125 -3.8%
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

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Governance

Voting Members
17
Independent Members
17
Employees
3
Volunteers
17

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
1
$164,000
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andreas Wagner Board Member 2.0
Director
$0 $0 $0
Blake Brown Board Member 2.0
Director
$0 $0 $0
Caleb Diffell Board Member 2.0
Director
$0 $0 $0
Chad Johnson Board Member 2.0
Director
$0 $0 $0
Craig Callahan Board Member 2.0
Director
$0 $0 $0
Jim Bush Board Member 2.0
Director
$0 $0 $0
Laurent Dijon Board Member 2.0
Director
$0 $0 $0
Masha Sams Board Member 2.0
Director
$0 $0 $0
Matt Kent Board Member 2.0
Director
$0 $0 $0
Mike Benn Board Member 2.0
Director
$0 $0 $0
Mike Brannen Board Member 2.0
Director
$0 $0 $0
Peter Schonning Board Member 2.0
Director
$0 $0 $0
Russell Verhovec Board Member 2.0
Director
$0 $0 $0
Steven Hughes Board Member 2.0
Director
$0 $0 $0
Tim Romecki Board Member 2.0
Director
$0 $0 $0
Tracy Smith Board Member 2.0
Director
$0 $0 $0
Trent Schmidgall Board Member 2.0
Director
$0 $0 $0
Lake Ray President 40.0
Officer
$164,000 $0 $164,000
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 No data No data No data No data
2023 $508,079 $398,916 $476,825 $109,163
2022 $387,477 $426,602 $338,059 $-39,125
2021 $324,038 $359,834 $474,742 $-35,796
2020 $237,580 $393,271 $496,477 $-155,691
2019 $480,054 $438,485 $645,149 $41,569
2018 $433,551 $452,266 $644,243 $-18,715
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