FLORIDA SEAPORTS COUNCIL INC

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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

1994

Legal Domicile

Principal Officer

MIKE RUBIN

Phone

8502228028

Tax Period

2023-10-01 to 2024-09-30

FLORIDA SEAPORTS COUNCIL INC, founded in 1994, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Expenses of $999K left a modest 14% surplus.

Mission

TO PROVIDE LEADERSHIP, ADVOCACY, AND INFORMATION ON SEAPORT-RELATED ISSUES BEFORE THE LEGISLATIVE AND EXECUTIVE BRANCHES OF STATE AND FEDERAL GOVERNMENT.

Program Service Accomplishments

Program 1

A MAJOR ACTIVITY OF THE COUNCIL IS THE ADMINISTRATION OF THE FLORIDA SEAPORT TRANSPORTATION AND ECONOMIC DEVELOPMENT COUNCIL (FSTED) GRANT PROGRAM CREATED UNDER CHAPTER 311, FLORIDASTATUTES. THE...

A MAJOR ACTIVITY OF THE COUNCIL IS THE ADMINISTRATION OF THE FLORIDA SEAPORT TRANSPORTATION AND ECONOMIC DEVELOPMENT COUNCIL (FSTED) GRANT PROGRAM CREATED UNDER CHAPTER 311, FLORIDASTATUTES. THE COUNCIL SERVES AS A THIRD-PARTY ADMINISTRATOR FOR FSTED AND PROVIDES STAFF TO ASSIST IN THE PREPARATION AND SUBMISSION OF ALL GRANT APPLICATIONS FROM THE VARIOUS PORTS TO FSTED.

Program 2

FLORIDA PORTS FINANCING COMMISSION (FPFC) PROGRAM ADMINISTRATION AGREEMENT - FLORIDA SEAPORTS COUNCIL PROVIDES GENERAL ADMINISTRATIVE SERVICES TO FPFC AND PERFORMS ALL RESPONSIBILITIES REQUIRED OF IT...

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,124,313

Investment Income $35,366

Other Revenue $7,903

TOTAL REVENUE $1,167,582

Expense Breakdown

Grants Paid $0

Salaries & Benefits $480,953

Fundraising Expenses $0

Other Expenses $518,355

TOTAL EXPENSES $999,308

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,167,582	$1,139,057	+0.0%
Expenses	$999,308	$985,561	+0.0%
Net Income	$168,274	$153,496	+0.1%

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

Total Directors

Key Employees

$238,639

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN MURRAY	DIRECTOR	5.00	Director	$0	$0	$0
JOE MORRIS	DIRECTOR	5.00	Officer Director	$0	$0	$0
JOSHUA REVORD	DIRECTOR	5.00	Director	$0	$0	$0
ERIC GREEN	DIRECTOR	5.00	Director	$0	$0	$0
MICHEAL MEEKINS	DIRECTOR	5.00	Director	$0	$0	$0
ALEX KING	DIRECTOR	5.00	Director	$0	$0	$0
CLARK MERRITT	DIRECTOR	5.00	Director	$0	$0	$0
HYDI WEBB	VICE CHAIRMAN	5.00	Officer Director	$0	$0	$0
PAUL ANDERSON	DIRECTOR	5.00	Director	$0	$0	$0
DAVID WIRTH	SECRETARY/TREASURER	5.00	Officer Director	$0	$0	$0
CARLOS BUQUERAS	CHAIRMAN	5.00	Officer Director	$0	$0	$0
MIRIAM HILL	DIRECTOR	5.00	Director	$0	$0	$0
SAM SULLIVAN	DIRECTOR	5.00	Director	$0	$0	$0
STEVE MCALEARNEY	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL RUBIN	PRESIDENT & CEO	35.00	Key Emp	$195,000	$43,639	$238,639

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	$1,167,582	$999,308	$1,514,883	$168,274
2023	$1,139,057	$985,561	$1,358,281	$153,496
2022	$902,145	$747,248	$1,223,102	$154,897
2021	$1,066,161	$995,617	$1,080,596	$70,544
2020	$1,103,144	$1,012,119	$968,870	$91,025
2019	$1,112,381	$1,087,169	$930,485	$25,212
2018	$1,115,863	$1,059,406	$1,017,231	$56,457