ECONOMIC DEVELOPMENT COUNCIL OF SO… - Form 990 Financial Data

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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

1995

Legal Domicile

Phone

3053789470

Tax Period

2023-10-01 to 2024-09-30

ECONOMIC DEVELOPMENT COUNCIL OF SOUTH MIAMI-DADE INC, founded in 1995, is a small nonprofit that reported $422K in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $123K, a strong 29% operating margin.

Mission

The Economic Development Council of South Miami-Dade Inc. EDC provides support and advocacy to existing and prospective businesses and promotes initiatives which bolster the regions resiliency and sustainability.

Program Service Accomplishments

Program 1

Expenses: $266,647 Revenue: $0

The EDC continues to provide initiatives that bolster the sustainability of the region which include: - Encouraging the Dept of Defense for the basing of F35s at HARB - Creation of a South Dade...

The EDC continues to provide initiatives that bolster the sustainability of the region which include: - Encouraging the Dept of Defense for the basing of F35s at HARB - Creation of a South Dade Aerospace Technology Hub north of HARB - Continued economic development by attracting businesses that provide higher paying jobs careers - Collaborations with local schools colleges and universities for training and certification 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 (2023)

Revenue Breakdown

Contributions & Grants $421,953

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $421,953

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,307

Fundraising Expenses $0

Program Expenses $266,647

Other Expenses $150,331

TOTAL EXPENSES $298,638

Year-over-Year Comparison

	2023	2022	Change
Revenue	$421,953	$308,479	+0.4%
Expenses	$298,638	$258,104	+0.2%
Net Income	$123,315	$50,375	+1.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lisa Greer	Chair	2.50	Officer	$0	$0	$0
Sioux dePass	Secretary Treasurer	2.50	Officer	$0	$0	$0
Baldwyn English	Director	2.50	Director	$0	$0	$0
Wilbur Bell	Director	2.50	Director	$0	$0	$0
Richard Candia	Director	2.50	Director	$0	$0	$0
Richard Miller	Director	2.50	Director	$0	$0	$0
Dr Tania Acosta	Director	2.50	Director	$0	$0	$0
Matthew Rocco	Director	2.50	Director	$0	$0	$0
Kenneth Spell	Director	2.50	Director	$0	$0	$0

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	$421,953	$298,638	$279,359	$123,315
2023	$308,479	$258,104	$153,669	$50,375
2022	$234,906	$144,245	$98,744	$90,661
2021	$40,500	$57,597	$14,217	$-17,097
2020	$71,991	$52,770	$28,312	$19,221

ECONOMIC DEVELOPMENT COUNCIL OF SOUTH MIAMI-DADE INC